by Greg Campbell
We here at TPNN have been laboring under the assumption that a national debt of over $16 trillion and annual deficits of over $1 trillion demanded attention and a remedy. However, according to the White House, “Deficit reduction is not a worthy goal.”
And here we were thinking that these were bad things.
In regards to ideas to fix our fiscal crises, White House Spokesman Jay Carney claimed on Wednesday, (emphasis added)
“The goal remains one that the president believes is the right one and he hopes that in dealing with our further budgetary and fiscal challenges that he will be able to reach an agreement with Congress to further reduce our deficit in a balanced way and to, most importantly- because deficit reduction is not a worthy goal unto itself, this is all about making our economy stronger, making it more productive and allowing it to create even more jobs. That is the most important thing when it comes to economic policy as far as the President is concerned.”
This recent revelation from the White House is the most recent indication that the Obama Administration is not appreciating the seriousness of the fiscal crisis America finds itself in. Earlier this week, Speaker of the House John Boehner spoke with The Wall Street Journal and claimed that Obama had stated that, “We don’t have a spending problem.”
“What stunned House Speaker John Boehner more than anything else during his prolonged closed-door budget negotiations with Barack Obama was this revelation: “At one point several weeks ago,” Mr. Boehner says, ‘the president said to me, “We don’t have a spending problem.”’…
The president’s insistence that Washington doesn’t have a spending problem, Mr. Boehner says, is predicated on the belief that massive federal deficits stem from what Mr. Obama called ‘a health-care problem.’ Mr. Boehner says that after he recovered from his astonishment—‘They blame all of the fiscal woes on our health-care system’—he replied: ‘Clearly we have a health-care problem, which is about to get worse with ObamaCare. But, Mr. President, we have a very serious spending problem.’ He repeated this message so often, he says, that toward the end of the negotiations, the president became irritated and said: ‘I’m getting tired of hearing you say that.’”
At the time of this article’s writing, the national debt stands at $16,445,065,213,579. That means each citizen owes $52,193 in debt and each taxpaying citizen owes $142,953.