Barack Obama: Let's steal 150m dollars an hour from American children Do you think that someone could steal 150 million dollars and get away with it? Well, the truth is that such a theft is taking place every single hour of every single day. The federal government is stealing 150 million dollars an hour from American children and American grandchildren and Barack Obama thinks that is a good thing. The new Obama budget projects a $1.33 trillion federal budget deficit for the 2012 fiscal year. That is significantly higher than the $1.15 trillion that the Congressional Budget Office was projecting because it includes a whole bunch of stimulus spending that the Obama administration plans to do.
So let's do a little math.
When you divide $1.33 trillion by 365 days, you get 3.6438356 billion dollars. So on average, the
will be adding more than 3.6 billion dollars to the national debt every single day during fiscal 2012. And when you divide $3.6438356 billion by 24 hours, you get 151.8 million dollars. So on average, the United States national debt will be going up by more than 151 million dollars every single hour during fiscal 2012 if Obama has his way. This is a theft from American children and American grandchildren that is so vast that it is almost unimaginable. U.S.
At the moment, the
national debt is sitting at a grand total of $15,355,838,921,022.16. That is an amount that is so large that it is hard to even put into words. U.S.
American founders never intended for this to be the case.Thomas Jefferson once stated that if he could add just one more amendment to the U.S. Constitution it would be a complete ban on all borrowing by the federal government.
I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.
Thomas Jefferson believed that it was fundamentally immoral for one generation to run up debts which must be paid back by future generations. Basically, he believed that such debts represented theft on a grand scale.(presstv)