This photo of my son and nephew ran in our local newspaper about 15 years ago. I’m betting dollars to doughnuts our president skipped this universal childhood lesson in Economics 101, and perhaps that explains his problem understanding the tragedy to befall us as America drowns in debt. Running a lemonade stand teaches you to progress by the sweat of your brow and live within your means. It taught these boys that it was unacceptable and self-defeating to keep coming back to mama for more money for ingredients needed to concoct a product to sell to the public. Obviously more debt means less progress and opportunity to expand. Anyone who has run a business knows more debt equals less profit, and less profit means less ability to grow operations, employ more people, and even hold your head high above shortsighted economic decisions that history proves lead to failure.
All these lessons about the kids’ lemonade stand and economic freedom apply to our families’ budgets, our businesses, and most certainly our government. We cannot borrow our way to prosperity. We’re in a deep hole; quit digging. We cannot ignore the economic realities of bankruptcy.
President Obama is giddily enthused now about growing more debt, but just a few years prior when he was still a senator, he scolded America, proclaiming: “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure.…Increasing America’s debt weakens us domestically and internationally.” And on July 3, 2008, he declared, “driving up our national debt from $5 trillion dollars to $9 trillion is irresponsible. It’s unpatriotic.” If it was irresponsible and unpatriotic at $5 trillion, what is it at $17 trillion?
Was he lying then or now?
Mr. President, boys and girls all across our great nation would no doubt share their lessons learned about the danger of debt. It’s our posterity you’ve made insecure when you doubled our national debt since taking office, which violates the preamble of our Constitution which speaks of securing “the blessings of liberty to ourselves and our posterity.” How can we secure our liberty when we’re hopelessly in debt to foreign nations? You said today that the cool thing about being President is you can “pick up the phone and call anyone in the world and they’ll answer.” Call Track and Payton. I’m sure your NSA and IRS have their numbers.