We Don't Have A Spending Problem!?

Obama has one of four problems. Either
1) He doesn't read reports that cross his desk, or
2) He doesn't comprehend or remember what he reads, or
3) He just lies constantly.

Apparently, President Obama never got around to reading the final report of his own deficit commission. How else to explain his belief that federal spending isn't the cause of the nation's debt crisis?

That's apparently what Obama told House Speaker John Boehner during their recent "fiscal cliff" negotiations.

"At one point several weeks ago," Boehner told the Wall Street Journal, "the president said to me, 'We don't have a spending problem.'"

That would be news to Obama's debt commission, which in its final report made clear that spending is the driving force behind the nation's debt crisis.

Here's what the report said: "Even after the economy recovers, federal spending is projected to increase faster than revenues, so the government will have to continue borrowing money to spend."

The panel added, "Over the long run, as the baby boomers retire and health care costs continue to grow, the situation will become far worse."

And it recommended: "We should cut all excess spending — including defense, domestic programs, entitlement spending, and spending in the tax code."

The commission was hardly breaking new ground here. Indeed, anyone who has looked at the federal budget can quickly see that out-of-control spending, not insufficient revenues, is the problem.

By 2022, federal revenues will top 19% of GDP, which is significantly higher than the post-World War II average. But spending will exceed 22%, and keep climbing.

Meanwhile, a Government Accountability Office report concluded that spending is "on an unsustainable long-term fiscal path" and blamed entitlements.

And countless Congressional Budget Office reports have documented how, left unchecked, federal entitlement programs will soon swamp the entire budget.

Apparently Obama didn't read any of those, either.

When it comes to federal spending, Obama is like the alcoholic who says that the only drinking problem he has is when he can't get a drink.

http://news.investors.com/ibd-editorials/010713-639635-obama-says-there-is-no-spending-problem.htm

I guess Obama has never seen this or any similar charts either.

As A Percent Of GDP
<img src="http://www.heritage.org/federalbudget/charts/2012/entitlements-consume-economy-680.jpg">

 

When a Democrat runs out of reasonable arguments, they resort to denial, intimidation, etc.

 

What else could Odumbo say? After all, his primary objective is to destroy America... no better way than to collapse the economy with debt until it crashes and the $USD is rejected by the rest of the world...