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What Debt Crisis?

As millions of Americans continue to make do in the Obama economy, the president, politicians, comedians, the Hollywood elite and members of the media gathered over the weekend for the annual White House Correspondents' Dinner. It was just another self-congratulating display of opulence amidst an otherwise trying time for many Americans.

But this has become the norm under the Obama administration, which regularly displays an arrogant tone deafness as to how Washington's actions are viewed by the rest of America. I've chronicled the many vacations, parties and overall lavish lifestyle embraced by the Obamas. Did you know that according to a new report from the Government Accountability Institute, Barack Obama has spent twice as much time on vacations and golf than he has in meetings on our economy? According to Breitbart, “According to a new report by the nonpartisan Government Accountability Institute (GAI), President Barack Obama has spent over twice as many hours on vacation and golf (976 hours) as he has in economic meetings of any kind (474.4 hours).” That should explain a thing or two.

It's no surprise then that the Obama recovery, due to his liberal policies, is failing. The Wall Street Journal puts things into perspective, considering the latest report on GDP growth:

“It's been 15 quarters since the economy hit its recession trough in June 2009. The growth rate (on an annual basis) has since averaged 2.1%, or half the 4.4% average rate of the past nine recoveries. The Reagan expansion averaged 5.3% through the same 15 quarters, according to the Joint Economic Committee. The current expansion's subpar growth performance explains why unemployment remains so stubbornly high and median household incomes after inflation are nearly $3,000 below where they were when the recession ended.”

This is the dismal result of failed tax-and-spend liberal policies. What's mind-numbing is that Democrats want to double-down on this approach, taxing even more so that they can spend even more! What will this lead to? Only more crushing debt and a stagnant economy. For some reason, liberals are incapable of making the connection between our oppressive debt and job creation.

If you can believe it, we actually have Democrats out there who seriously do not think that we have a debt crisis. Politico had a report over the weekend which said that “more Democrats such as Virginia Sen. Tim Kaine and Maryland Rep. Chris Van Hollen are coming around to the point of view that fiscal austerity, in all its forms, is more the problem than the solution.”

Austerity? This is absurd! We have almost $17 trillion in national debt. According to CNSNews, “Under President Barack Obama, the federal government's debt has increased by an amount per household that exceeds the annual median household income.” Think about that! At this rate, by the end of Obama's second term he will have accumulated as much as debt as all previous presidents combined.

Throughout the debate on gun control, Democrats were so eager to tout the fact that a majority of Americans wanted expanded background checks. Remember that? Liberals claimed that they have America on their side, even though just 4% of Americans think guns and gun control are an important problem facing the country. Yet liberals conveniently ignore any polling about America's debt crisis. Our debt, along with the economy and jobs, has consistently topped the charts of issues about which Americans are concerned. As recently as last week, a Fox News Poll found that “there is a clear consensus that debt is a concern. Four in 10 voters describe the nation's debt situation as a crisis, and more than 8 in 10 see debt as a major problem (43 percent), if not a crisis (40 percent).” But that doesn't really fit into the liberal political agenda, does it?