Government Spending Is Ruining Families

The economic picture in the United States gets worse with each passing day of the Obama administration, and families are especially hard-hit.  While the damage is already devastating, the ramifications will continue wreaking havoc on today's children when they are adults starting their own families.

Comedians refer back to President Obama's 2008 campaign theme, "Hope and Change," declaring that most of us can only hope to have some change left after paying bills.  A survey of 1,100 Americans taken in October 2012 showed that 41 percent of respondents did not have more than $500 in savings at the time of the survey, which included "dual-income earners with ... big mortgages and big credit card bills."  Further, 54 percent had no savings plan, and 45 percent thought they would never be able to save money. 

The picture did not look any better in June 2013, when a survey of 1,000 adults found that 76 percent are living paycheck-to-paycheck.  Half of those surveyed had less than a three-month cushion in savings, and 27 percent had no savings at all.

It's even worse for the federal government.  Just click on the Debt Clock to see profligate spending in real time.  The U.S. national debt is just shy of $17 trillion!  That amounts to a debt per citizen of $53,431 -- that means every man, woman and child who is a United States citizen would need to pay that much money each to retire our current national debt.  The debt per taxpayer is a whopping $148,091.

What was the national debt when President Obama took office?  According to Mark Knoller, White House correspondent for CBS News, it was $10.626 trillion.  Mr. Knoller pointed out in March 2012, "The Debt rose $4.899 trillion during the two terms of the Bush presidency. It has now gone up $4.939 trillion since President Obama took office."  In the first three years and two months of Obama's presidency, he increased the debt more than the entire eight years of President Bush's presidency.  In March 2012, it was $15.566 trillion, and it now stands at $16.901 trillion and is estimated to top $20 trillion by the time Obama leaves office in 2016 -- an 87-percent increase in his two terms.

Via: American Thinker

Continue Reading....

RNC unveils national debt clock, immediately recesses

TAMPA, Fla. — Republican National Committee Chairman Reince Priebus gaveled in the 2012 Republican National Convention Monday afternoon, in the process unveiling two massive national debt clocks.

To cheers from delegates and guest — and with Hurricane Isaac menacing in the Gulf of Mexico — Priebus announced the beginning of the RNC.

“Ladies and gentlemen, by the authority contained in the rules adopted by the 2008 Republican National Convention, the Republican National Committee has directed that the 2012 Republican National Convention be held in Tampa, Fla. starting at 2 p.m. on the 27th day of August 2012,” he said.

“So it is my privilege to proclaim the 2012 Republican National Convention in session and called to order,” Priebus said with six slams of the gavel and immediately announced a recess, ending official activities until Tuesday as a result of Hurricane Isaac.

While in recess, Priebus directed attendees to focus on two large debt clocks overhead — one bearing the ever increasing national debt, the other displaying the debt tally accrued just during the convention.

“For this convention we also want to draw your attention to the unprecedented fiscal recklessness of the Obama administration depicted by the real time national debt clock shown here in the arena,” he said. “For this convention we have actually installed a second national debt clock that will log the debt that accrues during the course of this convention.”

The national debt is at a record $15.9 trillion and that the Obama administration has overseen an $5 trillion increase in the debt.

“This clock reminds every delegate and every American why we are here in Tampa – because America can and must do better,” Priebus said in a statement in advance of the unveiling. “Every American’s share of the national debt has increased by approximately $16,000 during the current administration.”

Follow Caroline on Twitter

Via: Daily Caller

Continue Reading...