Do you know how you get out of a hole? You stop digging.

But after his election in 2008, Obama kept right on digging for the four years after Bush had vacated the White House. On Jan. 20, 2009, Obama had all the tools he required to correct any fiscal imbalances “caused” by Bush. He had a Congress comprised of a House and Senate Democrat majorities. They were a race car ready to rock-and-roll for whatever his whim was. But he chose to do his job in a car with only an accelerator for spending…and no brake pedal for cutting spending. He could have avoided the massive unemployment we suffered even today if he had shelved his ideology, ratcheted back regulations and significantly cut spending. Instead, he opted to waste his political capital on the liberty-sucking and debt-busting Obamacare as his signature accomplishment. I’m sure children will be singing paeans to him for this monstrosity generations from now. NOT!!!

See, we don’t have a revenue problem…we have a massive spending problem. Nobody wants to touch the very sacred cow of spending, as it is the very deadly third rail of politics. Craven politicians like Obama know that re-election chances approach 0% if government sending, particularly entitlement spending, is reduced. And if you think our spending problem begins and ends with the one point something trillion dollars being batted about in the lamestream, you’re more naive than you think. Cruise on over to www.usdebtclock.org if you want true enlightenment into the world of hurt our profligate elite masters have gotten us into. Take a look at the last box at the bottom for the true extent of our debt and profligacy…and tell me if we haven’t been duped by the most diabolical and sinister Ponzi scheme ever dreamed up…which by the way we’re on the hook to pay.

As a nation we currently have almost $122 TRILLION in unfunded liabilities. Any way you look at it it’s a lot of dough. YOUR part of this is a little over a million bucks. When are YOU going to pay up?!?!?! Seeing that many working stiffs won’t make a million bucks in their lifetimes, the answer for many is NEVER! Guess what? That debt, plus interest, falls to our kids to pay. Some legacy gift to the widdle tykes, huh?

Making matters worse, we only have national assets (you know, the real stuff that we can pay the debt back with) of just over $87 Trillion. This leaves a deficit in this liability of around $35 TRILLION. There aren’t enough millionaires and billionaires in the galaxy to pull our fat out of the fire on this one. But Emperor ZERO fiddles, and then goes on a lavish Hawaiian vacation after his re-election, while Washington runs up over $150 MILLION per hour in debt…just for the operational side of things. Honestly, the guy doesn’t have $50 worth of concern in his eyes regarding debts and deficits…let alone the countless trillions that we do owe. He’s proved this time and time again. He’d rather complain about his predecessor than do the hard lifting that is required to put our fiscal house in order.

So, although Obama didn’t run up all this debt, his party and his Progressive ideology are squarely responsible for it with their entitlement schemes and their historical profligate spending — since 1903. Obama would not be president today if it weren’t for 20th century Progressives T. Roosevelt, W. Wilson, FDR and LBJ getting the ball rolling and keeping it moving over time. [I saw a news report that since his election that Obama has spent more money than all the presidents that preceded him, COMBINED. Some legacy, huh?]

Our profligate Commander-In-Chief may argue about “fiscal cliffs” but he really should be worried about fiscal icebergs…because we’re going to hit the one with the teeny-tiny tip just above water and the ginormous mass just below the surface. It’s called unfunded liabilities…and it’s coming for us REAL soon. And soon we’ll get to meet the good buddy of unfunded liabilities as well…remorseless hyperinflation. All brought to you by the spendaholics in the Obama administration.