Article: "Obama Says U.S. Long-Term Debt Load 'Unsustainable.' "

The Link: http://www.bloomberg.com/apps/news?pid=20601087&sid=aJsSb4qtILhg&refer=worldwide

"May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries. " (Links are not mine, but have been left intact.)

No kidding, Mr Obama. It is unsustainable, and here you are adding to it. I'm sorry to quote more from the article, but this next is important:

"Earlier this week, the Obama administration revised its own budget estimates and raised the projected deficit for this year to a record $1.84 trillion, up 5 percent from the February estimate. The revision for the 2010 fiscal year estimated the deficit at $1.26 trillion, up 7.4 percent from the February figure. The White House Office of Management and Budget also projected next year’s budget will end up at $3.59 trillion, compared with the $3.55 trillion it estimated previously. "

Deficit for this year, $1.84 Trillion. That's $1,840,000,000,000.00. That's a lot of money, but that is for only this year. Fiscal year 2010 will be $1.26T (deficit). Oh, and next year's budget will be $3.59T.

But let's switch gears here. I wrote a while back that you'd start seeing things from Imprimis in this blog. And, here we go.

BUT FIRST, here's the blurb: "Permission to reprint in whole or in part is hereby granted, provided the following credit line is used: "Reprinted by permission from Imprimis, a publication of Hillsdale College." (At the end of this posting, I'll give their URL and a way to request your very own free copy of Imprimis.) ((This is the April 2009 edition, Vol 38, No 4.))

From Mark Steyn's article "Live Free or Die!" "After the President unveiled his budget, I heard Americans complain, oh, it's another Jimmy Carter, or LBJ's Great Society, or the new New Deal.

"You should be so lucky. Those nickel-and-dime comparisons barely begin to encompass the wholesale Europeanization that's underway.

"The 44th President's multi-trillion-dollar budget, the first of many, adds more to the national debt than all of the previous 43 presidents combined, from George Washington to George Dubya. [emphasis added]

"The President wants Europeanized health care, Europeanized daycare, Europeanized education, and, as the Europeans have discovered, even with Europeanized tax rates you can't make that math add up.

"In Sweden, state spending accounts for 54% of GDP. In America, it was 34% -- ten years ago. Today, it's about 40%. In four years' time, that number will be trending very Swede-like.

"But forget the money, the deficit, the debt, the big numbers with the 12 zeroes on the end of them. So-called fiscal conservatives often miss the point. The problem isn't the cost. These programs would still be wrong even if Bill Gates wrote a check to cover them each month.

"They're wrong because they deform the relationship between the citizen and the state. Even if there were no financial consequences, the moral and even spiritual consequences would still be fatal. That's the stage Europe's at.

"America is just beginning this process."

That's it. That's very important because a lot of people have been saying this, and we've been called many things for it. But here it comes. Socialism. Is this the "change" you wanted?

That should scare the crap out of you. It should also mobilize you to action. It's past time to get up off the couch and make your voices heard. It's time to kick the pols out of DC ... all of them ... take a broom and sweep it up. It's time to take back our country. As "Benedict" Arlen Specter proved, they're there simply for the money. He knew if he stayed Republican, he'd get his butt kicked in the next election. So to protect his paycheque, he switched.

Is this the change you wanted?

About Imprimis. Imprimis is a publication of Hillsdale College. Hillsdale takes no federal or state monies, so the feds can't tell them what to teach or how to teach it. You can get your very own FREE copy of Imprimis at http://www.hillsdale.edu/. Or, you can email them at imprimis@hillsdale.edu, or by phone at (800) 437-2268.

And again for that full disclosure thing. :) There is no relationship between Hillsdale College and myself, other that I receive Imprimis. They did not ask me to begin quoting from their publication, in fact, I approached them.

(H/T: Drudge Report, Imprimis)