Obama's new budget proves he not care less about our national debt, period.

We woke up this morning to this headline: White House Expects Federal Deficit to Spike to $1.65 Trillion - WSJ.com. What is not suggested is that this total supersedes the estimated from three weeks ago of $1.5 trillion. Of course, nothing has happened in the past 21 days to change this estimate. Last years deficit was a little more than 1.5 trillion dollars, so the Administration began with that number and has, now, worked its way up to 1.65 -- on its way to 1.9 trillion (?).

Understand that the new Obama budget for the fiscal year beginning October 1 of this year, is $3.73 trillion. That is how much he is hoping to spend. 44% of that total ($1.65 trillion) is borrowed money. Where does the deficit money come from? Treasury Bonds, foreign money (China and Japan are our two largest lenders) and the printing of dollar bills pumped into the national inventory to maintain and/or adjust for the estimated loss of our physical currency inventory. All of the borrowed money (foreign supply and Treasuries) adds to the structured debt of this country, debt that must be managed (i.e. interest and principle payments) each and every year. Sell a ten year Treasury bond and the president 10 years from now has to buy back that debt. Sell a 30 year Treasury note and the 15th congress, down the road into the future, has to buy that debt back.

Debt management (annual principle and interest payments) cost this nation approx $800 billion per year, money that has to be spent before we do any cutting of expenses. $414 of that total is interest alone. What Obama has done (and Bush 43 to a lesser extent) is to make it nearly impossible to solve our debt problem. We are borrowing money to pay for the money we have previously borrowed. They call it "investment." We call it "stupidity."

Point of post: to establish the fact that Obama knew of this number (1.65) before he released the $1.50 trillion estimate. Before he is finished with his first term, the debt totals for Bush's last year added to the totals for Obama's four years will exceed all money's spent by our government since its inception ---- combined. Understand that we are talking about deficit totals, not over-all spending totals . Just the deficit total is more than all spending since 1776 !!

Here (click on chart to enlarge) is how our money is being spent per Federal Budget.com.

Or current debt ceiling is 14.3 trillion dollars, a barrier we will reach sometime in March of this years. At current spending rates, the debt will rise to more than 19 trillion dollars by 2015.

Since 1913 and the creation of the Federal Reserve, our dollar has lost 98% of its value. Back then, a $20 bill would buy a $20 gold piece. Today, it takes 50 $20 bills to buy a single $20 gold piece.

This is what has happened to YOUR MONEY over the course of the past nearly 100 years.

The sad truth is that Mr. Obama decided to forgo leadership on this matter, and make his budget a part of the problem, more so that any single budget proposal in history.

He talks about the need to secure the future. What he does not understand is that the future has been squandered by himself and those who have gone on before him.

The problem with "tax cuts" is that they are never offered in concert with real and substantial spending cuts. Obama's version of a spending cut is a not-so-funny joke.

Think of it this wise. I spend $10, 000 a month on stuff. My wife comes to me and asks, "How do you do this?" I answer, telling her I borrow $4,000 a month from her mom and put interest payments on the credit cards. She warns me of pending disaster if I do not change my spending strategy immediately. I respond with a promise to spend 30 dollars less a month. She smiles and says, "Thank you."
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