Last night, President Barack Obama and U.S. congressional leaders failed to reach agreement on a deal to raise the nation’s debt limit. Meanwhile, it has been more than 800 days since the U.S. Senate passed a budget, liberals in Washington are pushing for higher taxes, unemployment is soaring, the deficit keeps growing, and America is careening toward an economic future as the Europe of the West.
That’s a future of crippling debt, spending, and permanently high unemployment that some in Congress are trying to avoid. On Saturday, Speaker of the House John Boehner (R–OH) pulled the plug on a debt ceiling increase that would have raised taxes in exchange for reductions in spending. It was the right move. Tax increases are the last thing America needs as it struggles with 9.2 percent unemployment and stagnant job growth.
But America’s dismal economic reality–and the policy of taxing and spending–are facts of life the Obama Administration would like America to accept, along with their explanation of why growth has been so slow to date.
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