John Stossel: The flood of federal spending continues
Yet when Congress and President Obama agreed on a deal last week to raise the debt ceiling and resume government spending, people reacted as if a disaster was averted — instead of reacting as if a disaster had resumed. It has. And it continues.
As with alcoholics, there's a deeper problem here. It's not just that America is addicted to debt. Everyone agrees we should pay our bills, just not when or how. The deeper addiction is to government.
I'd forgotten that when Obama campaigned for the presidency, he was very upset about his predecessor's deficits. Sen. Obama complained, "The way Bush has done it over the last eight years is to take out a credit card from the bank of China. ... We now have over $9 trillion of debt that we are going to have to pay back. ... That is irresponsible."
John Stossel is host of "Stossel" on the Fox Business Network, and the author of "No They Can't! Why Government Fails, but Individuals Succeed."
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