There is no explanation of why President Obama continues to refuse the advice of his own Administration when they tell him that out of control spending is putting our nation at risk. And it appears that President Obama and his corrupt fellow travelers in Congress can bring about the fall of the United States’ dollar -- and the economic chaos that will follow will make the current economic crisis look like boom times. Or is the explanation frighteningly socialistic?
Here is what the non-partisan GAO had to say …
January 17, 2013
The President of the Senate
The Speaker of the House of Representatives
Subject: Financial Audit: U.S. Government’s Fiscal Years 2012 and 2011 Consolidated Financial Statements
This report transmits GAO’s report on the results of our audit of the U.S. government’s fiscal years 2012 and 2011 consolidated financial statements, which is incorporated in the enclosed 2012 Financial Report of the United States Government prepared by the U.S. Department of the Treasury.
Increased attention to risks that could affect the federal government’s financial condition is made more important because of the nation’s longer-term fiscal challenges. The comprehensive long-term fiscal projections presented in the unaudited Required Supplementary Information section of the 2012 Financial Report of the United States Government (2012 Financial Report) show that—absent policy changes—the federal government continues to face an unsustainable fiscal path.
The oldest members of the baby-boom generation are already eligible for Social Security retirement benefits and for Medicare benefits. Under these projections, spending for the major health and retirement programs will increase in coming decades as more members of the baby-boom generation become eligible for benefits and the health care cost for each enrollee increases. Over the long term, the structural imbalance between spending and revenue will lead to continued growth of debt held by the public as a share of GDP; this means the current structure of the federal budget is unsustainable.
This is the message that is being sent to the President, Harry Reid and John Boehner. There can be no excuse that they did not receive and understand the message: continued spending will sink the country as surely as the iceberg sunk the Titanic.
Bottom line …
I have no doubt that the majority of the American people will not take the time or effort to read or understand this report. So what does this say about our society – that a voting majority can simply vote an empty suit with an apparent malevolent agenda into office?
What it says is that the patriots are staying home when it comes time to vote. What it says is that the GOP is pandering to the religious right as much as Obama is pandering to the socialist left. What it says is that we are screwed unless we take action to remove corrupt politicians from office in 2014.
Reference Links …