An existential threat to the United States 13


By Tom Quiner

The president’s smug gene was in overdrive:

“It is sometimes important for people to step back and measure how far we’ve come. The economy right now is better than any other economy in the world by a significant margin. We remain the strongest nation on earth by far and there are no existential threats facing us.”

He went on to dismiss ISIS (who in another bout of smugness he once derided as the Jayvee team) or Russia as existential threats to the United States in an exchange with NBC’s Matt Lauer earlier this year.

He insisted the U.S faced no existential threats at all.

I think he’s wrong. There is one significant threat that could bring this country down abruptly: a debt crisis.

Do you remember how the economy was on the verge of collapse in 2008? That was before eight years of Obamanomics.

That was before a new, unaffordable entitlement, Obamacare.

That was before unrelenting deficit spending that doubled the public debt  to 76.6% as a share of the economy since Obama took office.

Here is the Obama legacy:

Our corporate tax rate is the highest in the world. (Hillary wants to increase it.)

As a result, corporate profits are down, which depresses tax revenue, which increases the deficit.

The deficit shall increase 35% this year alone.

The economy that Obama crows about only grew 1.1% last quarter. We are hovering near recession.

Because the government has to increase borrowing to cover all of Obama’s red ink, interest as a share of the budget is increasing to 11% … despite record low interest rates!

Here’s the existential threat:  unsustainable debt.

At what point does the economy collapse?

At what point does China or other nations refuse to lend us money?

What happens if interest rates spike, causing interest payments to overwhelm our budget, crowding out national defense, our societal safety net, and entitlement payments?

No one is talking about this issue, least of all Hillary Clinton, who wants to expand deficits with dramatic new government spending and economy-busting higher taxes.

The Congressional Budget Office projects public debt to increase to 85% of our economy in ten years. But that doesn’t factor in new debt Hillary promises to usher in.

What if she accomplishes what Obama accomplished in eight years and doubles our public debt to the economy again?

Then we’d be Greece.

And that is an existential threat to this country.

 

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13 comments

  1. I predicted 7 yrs ago that Obama would do something to not have leave the W.H. when he’s due to. Then earlier this wk, we get notified that the elections may not be able to happen due to poss. hacking that would cause the outcome to be unreliable. I don’t say I predicted this lightly. My hubby is poli/sci expert and knew that sort of thing would eventually come as the republic (it’s NOT supposed to be a democracy) failed. I felt this was the POTUS that would do it. He had a desire to “fundamentally transform” the country and has done so to a great extent, but not enough for one who so despises the very founding principles of this country.

    • Most presidents at this stage of their second term are lame ducks, their power pretty much gone. But for a president who doesn’t feel bound by the Constitution, four months can seem like a lifetime. Who knows what other damage he can do?

  2. Many in this country have NO understanding of just what could happen, especially if Hildabeast (sorry, that wasn’t very nice was it… 🙂 ) happens to make it to the WH and continues to sucking this country dry. After all, we have raised a generation under Obama who have learned that even though they don’t work or have money they are still able to eat and pay their bills…nothing truly bad ever happens…right? So, the country being in debt has no meaning. Heck, we can just print more money and problems solved, right? GOOD GRIEF…To say it is alarming would be an understatement.

      • Of course not. Just leave it for the next generation and the one after that… They SAY they are concerned about their children’s future but how can that be when they play Russian Roulette with this country daily? Shaking my head. Glad God is in control!! 😊

  3. Well said, oh namesake me!!! I just heard this afternoon that President Obama’s approval rating is the highest it has been since the Bin Laden killing!!! Sheeesh!!

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