Obama’s spending bender: What have I done?

[sharenow]
Obama on debt, spending
By ignoring his deficit reduction promise, Obama has reduced the nation into a fragility it hasn’t seen since the Civil War.

The first campaign promise Barack Obama ignored after having reached the presidency was his pledge to cut the budget in half. And by ignoring that promise, he’s reduced the nation into a fragility it hasn’t seen since the Civil War.

The president and progressive Democrats have been living in a drug-induced dream world for the past four years, and just like any other addict, they will require ever-increasing amounts of the drug to do the trick. Their drug of choice is, of course, spending.

Just like any other drug, this one clouds the brain, erases the line between reality and fantasy and ends all logic and reason.

As a result of this delusion, The New York Times reported that our deficit problem is mostly solved, based on a declaration by the left-leaning Center on Budget and Policy Priorities. Kevin Glass noted in Townhall.com, however, that this assessment is based on still other delusions:

First off, the CBPP assumes that sequestration cuts are going to happen – and that’s $1.4 trillion in spending cuts over the next ten years that fall about half on defense spending and half on nondefense discretionary spending. Portions of these cuts are opposed by both Democrats and Republicans on Capitol Hill. It’s possible, though by no means likely, that the BCA is implemented in its entirety.

The CBPP also assumes that Medicare spending cuts put forth in Obamacare are going to work perfectly – namely, that lower spending targets are attainable and that the Independent Payment Advisory Board will both work properly and won’t be overridden by Congress. The Congressional Budget Office estimated that Obamacare’s Medicare cuts would total over $700 billion over the next ten years. While it would be nice if IPAB and the other spending reductions worked properly, the chances are low. The CBO’s “Alternative Fiscal Scenario,” the set of policies they deem most likely to happen, includes these Medicare cuts either failing or being overridden.

Finally, the CBPP’s report only covers the next ten years, while the deficit crisis isn’t going to truly hit the United States until the next decade. Progressives would have you believe that, because it seems far away, it’s not really important to address. The CBO concludes otherwise: the cost of inaction gets heavier and heavier every day.

Because the president ignored his promise to reduce the deficit, he has added $50,521 per household in debt, according to figures based on government data and compiled by CNSNews.com.

Forbes reported that another result will be a $20 trillion-plus debt as a legacy to the president’s successor.

the_bridge_on_the_river_kwai
Alec Guinness as Nicholson: “What have I done?”

In the climatic scene of “The Bridge on the River Kwai,” Nicholson, played by Alec Guinness, realizes he has made a huge, perhaps fatal error, affecting his nation’s interests. “What have I done?” he exclaimed.

I’m still waiting for the president to do the same — wake from his stupor, correctly assess the reality of the situation and exclaim, “What have I done?”

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