In what has to be the supreme example of “do as I say, not as I do,” President Barack Obama has declared April to be “National Financial Capability Month,” and has promised to use this time to teach young people “how to budget responsibly.”
“I call upon all Americans to observe this month with programs and activities to improve their understanding of financial principles and practices,” Obama said in an official proclamation according to CNSNews.
Just speaking off the top of my head, I would think that before he could ever hope to “improve [the] understanding of financial principles and practices,” for others, he would first have to find someone who can do the same for him.
Since Obama assumed office, he’s amassed an additional $6 trillion in federal, or $53,377 per household.
The president continued, “My Administration is dedicated to helping people make sound decisions in the marketplace.”
Making sound financial decisions entails setting priorities. This administration prefers to leave our borders unsecured and airport control towers unmanned instead of tackling the estimated $42.6 billion in reckless annual federal spending.
“Together, we can prepare young people to tackle financial challenges — from learning how to budget responsibly to saving for college, starting a business, or opening a retirement account,” he said.
Before one can learn to budget responsibly, one first has to learn how to budget. The law requires that the presidential budget be submitted to Congress by the first Monday in February. Almost two months after the due date, the only thing coming from the White House is the sound of crickets.
“My Administration continues to encourage responsibility at all levels of our financial system by cracking down on deceptive practices and ensuring that consumers are informed of their rights,” he said.
Do those “deceptive practices” include his own ignored promise to cut the deficit in half? The American people are still waiting on that one.
CNSNews.com’s Terence P. Jeffery reported Monday:
Listed among the “popular topics” on MyMoney.gov is “Managing Debt and Credit,” which includes a link to a page on the Federal Reserve’s website called “Getting the most from your credit card.” Tip 2 on that page is: “Stay Below Your Credit Limit.”
When Obama was inaugurated on Jan. 20, 2009, the total debt of the federal government was $10,626,877,048,913.08. As of the close of business on March 28, 2013, the total debt of the federal government was $16,766,988,432,792.62—an increase of $6,140,111,383,879.54 since Obama took office.
Saying that the Obama administration is capable of teaching young people financial responsibility is akin to inviting the late serial killer John Wayne Gacy to babysit your children — it’s a bad idea.
I kept expecting the proclamation to end with, “April Fools!” but those words never came.
Read more at CNSNews.com.