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Limbaugh Ashamed Of The United States, But Is The Debt Crisis Real?

Limbaugh Ashamed Of The United States, But Is The Debt Crisis Real?

Rush Limbaugh is ashamed of the United States. Limbaugh goes so far to say that the Fiscal Cliff, the Federal debt ceiling, and all the other budget conflicts in Congress are just one manufactured crisis after another. But what is the real financial status of the United States?

As previously reported by The Inquisitr, Rush Limbaugh is ashamed of Americans, but he says this because people are buying into the claims of Obama and the Democrats:

“I’ve said the same things over and over for 25 years. It’s the same stuff, it’s the same threats, it’s the same arguments, over and over nothing ever changes.

“We just keep spending more money, we create more dependency, we get more and more irresponsible one crisis to the next, all of them manufactured. Except for the real crisis that nobody ever addresses and that is we can’t afford it.”

While it’s true that Congress has been letting their finances get out of control for a long time now, Limbaugh can’t say it’s solely the fault of Obama and the Democrats. While the Republican party of the 1990′s made a good attempt at balancing the Federal budget, they did an apparent about-face when the 2000′s hit and they were in control of the Presidency and both parts of Congress.

Part of the problem was an economic contraction that occurred from late 2000 to 2004. The slow in GDP growth meant that the Federal income dropped and thus the Federal deficit became a real problem. Republicans like to say that the War On Terror was largely responsible for the increased spending, but that’s only true to a certain extent. The Federal government grew mightily during this years as well, spending their way toward the debt crisis the nation is now facing.

Once Democrats gained both the House and Senate in 2007 the spending really got out of control. Combine this with the GDP slowdown that lasted from early 2008 to mid 2009 and the Federal deficit busted the $1 trillion mark. But the problem is that even after the GDP kept increasing by trillions these past several years the Federal deficit still stayed high, which is what brings us to the debt crisis now.

In short, the debt crisis is real, not manufactured, and both major political parties in the United States had a hand in creating the situation. Forget the Fiscal Cliff, the current situation could be called a Super Cliff if the US debt crisis is allowed to continue to the point where our credit rating is cut, the interest payments on our debt exceeds the cost of Social Security, and hyperinflation sets in. Hyperinflation essentially means that the value of your dollar drops so quickly that you need buckets of dollars just to purchase basic goods.

President Obama claims the job of debt reduction is nearly done. But how can anyone consider reducing the Federal deficit from $1.089 trillion in 2012 to a future 10 year goal of roughly $700 billion to be close to balanced by any measure? That means we’ll be exceeding $20 trillion in debt within several years and the debt interest payments alone will cost the nation trillions each year.

Here’s where we face a stark choice. I’ve already analyzed Federal government income and spending, so I won’t repeat that information here. Borrowing from others represents about 1/3 of the Federal budget, with income (taxes) being around 17 percent of GDP and spending about 24 percent of GDP. There are three options: cut spending, increase taxes greatly, or a combination of the two.

Taxing just the rich won’t work. If the IRS grabbed 100 percent of income over $1 million, the take would be just $616 billion and the 2012 Federal deficit was $1,086 billion. In order for revenue/tax increases to cover expenses we’re talking about taxing everyone–not just the rich–a lot more. So that leaves spending cuts and the thrust of the “Limbaugh ashamed” comments.

Rush Limbaugh is right to be ashamed. But this shame is shared by everyone, not just those who support Obama and the Democrats. We voted these people from both parties in and allowed them to trash the finances of the country, all the while pointing fingers at others instead of taking responsibility.

Now that you know the facts about the United States debt crisis, does your opinion of Limbaugh saying he’s ashamed of the country change in any way?

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Comments

19 Responses to “Limbaugh Ashamed Of The United States, But Is The Debt Crisis Real?”

  1. Anonymous

    Like Michelle Obama, I too for the first time am ashamed of my country because of her husband.

  2. Terry McGough

    Rush you are only a few years behind me in your shame. I happened for me when I realized the country had elected an alcoholic cocaine-addict who went on to spent 10 billion dollars a month on a war which accomplished nothing for the US, and that a major reason he was elected because he had as a mouthpiece a oxyxontin-addict who procured his drugs from the black market. Now ther's a reson to be ashamed!

  3. Anton Batey

    The issue of debt is something nobody truly takes serious: because it’s not that serious. It’s only marginally serious to investment banks and financial multinationals (which is why it’s an “issue”). The debt issue can be solved anyway if the United States instituted a single-payer health care system, but since Americans get frightened at the invocation of “socialism” due to a half-century of fear-mongering, the process is being prolonged. The debt/deficit “crisis” is manufactured as a justification to slash programs that poor and middle class people benefit from and to kill on arrival any public works program that might create jobs and get the economy stimulated.

  4. Anonymous

    This all started when BHO and Some LIBERAL DEMPOCRATS took over Washington BHO is TOTALLY at fault because of his desire to "fundamentally change America". To Irene you are a idiot and part of the problem.

  5. Ron Atkinson

    No. He can back up his statements with more idiotic words. As I state before he makes too much money for doing an saying nothing.

  6. Bogos Bedros

    I am ashamed of all the idiots that are so blinded by their hatred for Rush that can't even understand what he is trying to say. He blamed both parties for the mess that this country is in. The people who are in the government are destroying the future of our children.

  7. Wayne Knowles

    I fought (3 tours Vietnam) tonstituto keep this Republic free. I took an oath to defend The Constitutiion against those who would seek its demise whether foregin or demomestic. That would include Communist, Sociaist, Anarchist, Terrorist, Islamist or anyone else. I was born free, I will live free, and I will die free. The problems of this country are many, economic collapse would only aid those who seek to destroy our way of llfe and freedom.The greatnees of America is centered in the free enterprise system which rewards indivdual effort, inginuity, perservance and willingness to scarfice. It does not grant anyone a free ride on the back of those who took the risk, made the effort and strived to succed. each person has an equal right to succeseed according to their abailty, effort, willingness to take the risk and achieve success. America was to bring individual freedom within Gods plan. It is time to realise that our freedoms are at risk and stop the downward spiral toward a welfare state that will destroy our Republic. It is time to think and look at what we have to loose, reinstill our national work effort, backbone stop those who would destroy America. That is my opinion.

  8. Anonymous

    I'll add that I am not ashamed of America, but rather the voter's that put a light weight in as President. We've had some stinkers in office before, but Obama is sour cream of the crop.

  9. Anton Batey

    Mr. Knowles, the Vietnam War did not keep the United States free. The war not only had nothing to do with preserving the Constitution, the war and the military draft contradicted the Constitution. It was an imperialist, brutal war that turned three countries into cemeteries that were destroyed to its core. The economic collapse you’re talking about was brought about by about three decades of governmental deregulation that permitted investment banks to consociate with commercial banks, the creation of a slew of collateralized debt obligations, the paying off of rating companies, the continuation of outsourcing and globalization, the decline and tarnishing of the concept of unionization, the squandering of money to pay for illegal wars, etc. (every one of those issues I can provide an in-depth analysis of, if you’d like). And you’re seriously saying it is because of the “welfare state”? Like seriously? You’ll have to be more specific than just parroting what Limbaugh or Hannity say. Are you talking about Social Security? Or Medicare? Medicaid? Food stamps? What? Because each one of those I’d agree are expensive, but it’s mainly because they have to operate through private companies where little regulation exists and blanks checks are written.

  10. Cynthia King

    I remember fears of y2k at the end of the nineties. Companies spent a lot of money getting ready for the turn of the century, times were good enjoyed by all. Bill Clinton took a lot of credit for the economy. Well the century turned, the world didn't implode, and life went on. Thing were heating up in the Middle East,

  11. Cynthia King

    Cole attack in Yemin? But ignored. But the economy contracts as it usually does, Geo Bush gets elected, 911 happened, and we end up in Iraq. My point is its all cyclical in nature. Some people make the mess, somebody else mops it up. The political party in office at the time gets the credit or the blame. That's why Rush is so popular. He can skew any event to his favor, and most people don't look any further. Isn't feb. a rating month? Maybe that explains his shame.

  12. James Trandel Sr.

    What would you get if you cut out all the parts in the bible about love, forgiveness and humility? A place for Rush to put his daily supply of Oxycondone! Good seeing you again Johnny! Jimmy Trandel