Romney Leads Obama in Billionaire Donors
An examination of donors and the Forbes magazine list of 412 American billionaires shows that Romney has the support of 42, followed by Obama with 30, Texas Gov. Rick Perry with 20, former Utah governor Jon Huntsman with 12, and former House Speaker Newt Gingrich with four.
Ron Paul? ..... Zero, zip, nada.
"The way I think about it is this is a great, great country that had gotten a little soft, and we didn't have that same competitive edge we needed over the last couple of decades." President Barack Obama
"Seriously, in 2008 we elected a community organizer, state senator, college instructor first term senator over a guy who spent five years in a Vietnamese prison. And now he's lecturing us about how America's gone 'soft'? Really?" Jonah Goldberg
The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies.
Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion.That is “trillion” with a “T.” That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers. And over the next 5 years, between now and 2011, the President’s budget will increase the debt by almost another $3.5 trillion.
Numbers that large are sometimes hard to understand. Some people may wonder why they matter. Here is why: This year, the Federal Government will spend $220 billion on interest. That is more money to pay interest on our national debt than we’ll spend on Medicaid and the State Children’s Health Insurance Program. That is more money to pay interest on our debt this year than we will spend on education, homeland security, transportation, and veterans benefits combined. It is more money in one year than we are likely to spend to rebuild the devastated gulf coast in a way that honors the best of America.
And the cost of our debt is one of the fastest growing expenses in the Federal budget. This rising debt is a hidden domestic enemy, robbing our cities and States of critical investments in infrastructure like bridges, ports, and levees; robbing our families and our children of critical investments in education and health care reform; robbing our seniors of the retirement and health security they have counted on.
Every dollar we pay in interest is a dollar that is not going to investment in America’s priorities.
Senator Barack Obama
Senate Floor Speech on Public Debt
March 16, 2006
Imagine the uproar if President Bush had unilaterally launched air attacks against Libya's Moammar Gadhafi.
But since it's Mr. Obama's finger on the trigger, Democratic leaders in Congress have kept quiet - demonstrating that their opposition to presidential power during the Bush years was political, not principled.
Interesting guy, John Woo.
“The proposed budget cuts from the Obama administration and Congress are jokes.
They are woefully inadequate.
And polls this week revealed that even many self-identified Tea Party members have no desire to cut Social Security and Medicare benefits.
The weaker the political will to enact painful budget reforms, the faster the federal debt will grow.
The faster the debt grows, the more the Fed will be pressured to monetize, which boosts the money supply.
The further the money supply grows, the more urgency investors around the globe will feel to buy gold, silver, and other hard assets.”
Dan Amos, The Daily Reckoning, 03-11-11
To quote then Senator, Presidential candidate, and former professor of constitutional law, Barack Obama