At the time, some people thought that was a god idea. But look what happened.
In just 12 months between 2007 and 2008, Washington TRIPLED the federal deficit from $161 billion to $459 billion. Of course, our leaders swore on a stack of Bibles that this was a one-time-only event, needed to fight the recession.
They lied. Washington tripled the deficit AGAIN ... to $1.4 trillion in 2009.
Then, again, they solemnly promised that this, too, was temporary — for emergency purposes only.
But that was a lie, too. The 2010 deficit was $1.3 trillion.
Plus, the deficit for 2011 is the biggest of all: More than $1.5 trillion.
And in a double-dip recession, the deficit could surge to $2 trillion dollars.
All these dramatic changes and all these lies are what inevitably lead to the doomsday event that is now on the near horizon for America.
Still skeptical? Then consider this shocking change ...
We’ve sold our American birthright for a mess of porridge.
In the past, Washington always borrowed nearly all the money it needed from its own citizens. But in recent years, it has borrowed most of the money from foreigners, especially China, and now it owes foreigners over $4 trillion dollars.
That’s over four times MORE than it owed foreigners when the U.S. plunged into recession in the early 2000s.
But it still hasn’t been enough. The White House and Congress wanted to spend even more money than Americans and foreign investors would loan us — combined.