June 3, 2016—In under two minutes, Jacob Hornberger, president of the Future of Freedom Foundation, demolishes President Obama’s Thursday castigation against critics of endless government high-rolling.
According to The New York Times, he sharply criticized what he called, quote, “the myth of crazy liberal government spending.”
Is he for real?
He’s saying that that notion of “crazy liberal government spending” is false. Under his presidency, the national debt, the federal government’s debt, has increased almost $5 trillion, barely more than the George W. Bush administration, which shows that Republicans and Democrats are cut out of the same big-spending cloth.
The federal government now owes more than $15 trillion. It’s going in the direction of Greece and Puetro Rico, and we libertarians keep telling Americans, this cannot end well.
What about the debt ceiling? That’s the maximum amount that Congress has set as a safety valve for the federal government. They’re saying if you exceed this, this is dangerous. Guess how many times it’s been raised under the Obama administration. Five times.
And every time it approaches, they start bringing this Chicken Little stuff — what’s gonna happen if they can’t keep spending and borrowing? And, of course, Congress goes along with it. And that’s how he’s increased the debt almost $5 trillion. This cannot end well.
There’s really only one solution to this and this is libertarianism. This is where people have to ask, what is the role of government in a free society?
Because if we dismantle the welfare state functions, the mandatory charity functions, and we dismantle the imperialist, warfare-state functions, now all of a sudden we’re talking about not only a fiscally sound society, we’re talking about a free society.