President Barack Obama discusses the continuing budget talks Tuesday at the White House in Washington. (AP)
Back when he was running for president, Sen. Barack Obama blasted President George W. Bush over excessive federal spending and over our nation's borrowing money from Communist China to finance that spending.
Here is what Obama said during a campaign stop in Fargo, N.D., in 2008:
"The problem is, is that the way Bush has done it over the last eight years is to take out a credit card from the Bank of China in the name of our children, driving up our national debt from $5 trillion for the first 42 presidents -- [Bush] added $4 trillion by his lonesome, so that we now have over $9 trillion of debt that we are going to have to pay back: $30,000 for every man, woman and child. It's irresponsible. It's unpatriotic."
Well then, the question has to be asked: If Sen. Obama thought $9 trillion in national debt was "irresponsible" and "unpatriotic," does President Obama think it is "irresponsible" and "unpatriotic" that under his leadership, our debt has exploded to $14.6 trillion? And is he as troubled about the $47,000 that each man, woman and child in America owes on the debt today as he was about the $30,000 that each man, woman and child owed back in 2008?
As for our borrowing money from Communist China, that certainly hasn't ceased during the Obama administration.
What makes this all worse is that the president now thinks America has to go deeper into debt -- and raise taxes and spending -- to fix our obviously broken economy.
But what evidence is there from our existing $14.6 trillion debt that even more spending is the answer? If deficit spending were the cure for weak economies, the United States should be rolling in the dough by now!
But that hasn't happened, and there is just no reason to think that throwing good spending after bad will restore our country to prosperity.