Here's the stunningly unfettered perspective on the debt limit fight that neither party nor the media have presented to the American people...instead of these slightly over $1 trillion deficits we've been running, the federal government is actually deficit spending in the multi-trillion dollar range: $6.9 trillion in 2012, $4.6 trillion in 2011...total U.S. government obligations is around $88 trillion or 6x the annual U.S. gross domestic product! And Obama launched his 'tax the rich' campaign, raising only $600 billion, and that's his 'fair and balanced' approach.
theRightScoop: Mark Levin puts the debt limit fight into context by explaining what our actual federal deficits are using the same methods and generally accepted accounting principles that businesses use. In other words, this is how the government would be forced to deal with its deficits and spending if it were a business operating in the private sector. And as the title implies, the figures are staggering (start @ 3:30):
(Here's a link to John William's Shadow Government Statistics site)
And no sooner than we begin to hear about the truth of the nation's financial ruin, the Republican-led House once again kicks the can down the road...
theRightScoop: Instead of standing strong and taking the bull by the horns, Republicans are agreeing to a three month short-term debt ceiling raise to move the fight to the middle of May instead of fighting it out now. I’m not sure what this accomplishes, but unless they are willing to fight tough this is probably going to end with Republicans agreeing to cuts in the growth in spending in a Senate budget or something meaningless like that.
