MSNBC is reporting today that President Obama is seeking another $83 billoin dollars in supplemental funding for the Iraq and Afghanistan wars, something that Obama had repeatedly denounced, but voted in favor of, throughout his brief stint in the US Congress and on the campaign trail.
Let’s also remember that the Democrats were awarded a majority in the Congress back in 2006 under the now ridiculous notion that they were going to end the Iraq war and bring our troops back home, not to mention rein in federal spending.
This only weeks after introducing not only the largest budget in American history, but one that will lead to the largest one year increase in the federal deficit ever, officially estimated to increase the deficit by 1.75 trillion dollars.
This also comes at a time when official unemployment numbers – and we all know how accurate those are – are rapidly approaching ten percent. Unofficial unemployment numbers put the tally of those not working somewhere between fifteen and eighteen percent.
Officially, one out of every ten able-bodied Americans are unable to find work. Unofficially, and more accurately, we’re getting close to having two of every ten formerly functioning members of this “Great Society” unable to provide for his or herself and their families.
Robert Gibbs, the White House press secretary, acknowledged that Obama had been critical of Bush’s use of similar special legislation to pay for the wars. He said it was needed this time because the money will be required by summer, before Congress is likely to complete its normal appropriations process.
For folks that don’t know, supplemental funding is money that is appropriated outside the official budget. Like all of these recently popular and oh so necessary bailouts and “stimulus” packages.
For some strange reason, I don’t feel very stimulated. Not in a good way, anyway.
The coming request will include $75.8 billion for the military and more than $7 billion in foreign aid. Pakistan, a key ally in the fight against al-Qaida, will receive $400 million in aid to combat insurgents.
In the first six years of George Bush’s reign, we saw the federal deficit increase by 2.43 trillion dollars. The Democrat Congress, those we foolishly believed would put an end to Bush’s follies, managed to virtually match six years worth of Republican debt creation in a mere two years. In fact, they outdid Bush and the Republicans in tacking on 2.68 trillion dollars to the public debt.
Since Barack Obama’s coronation, our federal deficit has increased by 518 billion dollars, making the grand total of public debt – that’s mine and your debt – as of Wednesday to 11.15 trillion dollars.
With a dwindling tax base and more job losses expected, we can look forward to an increase in the public debt by the end of the year to match or exceed the total debt accumulation during Bush’s first six years.
Congressman Ron Paul (R-TX) explains in his blog on April 7…
Despite the deterioration of our economy, this is the largest budget ever passed, at $3.6 trillion. Gross domestic product and tax receipts are shrinking. The government has less money to spend this year, and so it spends more — $1.5 trillion more — than it has. When the economy expands, the government expands. Worse, when the economy contracts, the government expands more. Even more troubling is that even though the size of the budget boggles the mind, it is never the final word on federal spending. No allowance has been made for future bailouts and stimulus plans that are highly likely. There are always supplemental bills passed later in the year. War spending is one of those. Spending on Afghanistan is only partially included in budget, with a supplemental request expected in the future. History shows that true costs far exceed estimates. So even though these numbers sound appalling enough, I predict spending will top $4 trillion this year, raising the national debt by over $2 trillion when all is said and done.
Now I am by no means a fan of Bush or the Republicans, but when we were promised change not only in Washington but in the way that Washington does business, how many of us were expecting that change to mean an increase in the speed at which this country is being brought to its knees?
Well I was, but it still pains me to say that I told you so.