Spend , spend , spend, where does it end , end , end?

I just read an interesting article on President Obama's recent re-election and particularly his spending habits during his first term. Now while I have for a very long time been critical of the reckless spending of most levels of government (on a global basis, including our own) the numbers quoted in this particular article opened my eyes to the fact the monetary crisis is far worse than I believed.

Here's a couple of facts to roll around in your head, if they don't cause you some sleepless nights you obviously can not comprehend the shear size of money involved, or you are simply naive. Sorry, but if there is a third possible reason for lack of panic I really want you to tell me, but trust me on this one I will need some convincing.

-Every hour - as in every 60 minutes of every day of every week of Obama's first term in office his administration was spending $188 million of money that the United States did not and does not have. This spending spree continued 24/7 for his entire term! Even worse, is the fact that this is just federal spending and does not include municipal or state. I fear if I combined all levels of government spending during that period and published the resulting number many individuals would emulate lemmings and head for the cliff. Who knows, upon seeing that number I might join them myself!

- If second term Obama performs in the same manner the American federal debt will hit $20 trillion by 2014, a figure so immense that there is not enough liquid cash in the world to bail it out. Think about that statement for a moment, "not enough liquid cash in the world".

The above numbers are staggering, but in all fairness Obama can't be blamed entirely for this fiscal disaster. When he walked into the Oval Office the debt was sitting at $10 trillion, his predecessor George W. had taken it up by $4 trillion during his two terms. So the nation is suffering from two wild spenders in a row. Unfortunately President Obama inherited a runaway train and rather than applying the brakes he opened the throttle. In fact, by 2014 he will have personally created as much federal debt as every preceding president combined over a period of over 225 years (including George W). It's ironic that George W and Obama, (two individuals who couldn't be more different in some ways) over the span of 14 years created $14 trillion in federal debt, approximately 70% of what will be owed by the nation in total by 2014.

Now for those Democrats or Republicans that live by the belief that their man in office can do no wrong, if you truly can not see the problem here it is too late to save you. You have already drank the "koolaid" as they say.

I wonder how history will best remember President Obama, as the first African-American to be elected President, as the President that introduced a federal health bill, or as the individual who destroyed America's financial future. Only time will tell.