Bill O'Reilly: Debt Is Humbling Our Once-Great Nation


You will not see this story in most media because it is devastating to the Democratic Party.

This week the nonpartisan Congressional Budget Office issued a report that says the rising federal debt in America may doom the economy in the future.

Now I understand most Americans don't care about the federal debt. It is not real to them, just a fuzzy fantasy.

But right now the USA owes about $18 trillion, which is catastrophic.

Under President Obama, that debt increases about $3.3 billion every single day.

When the president took office six-and-a-half years ago, the debt was $10.6 trillion.

So Mr. Obama has racked up about $7.6 trillion in debt since he's been in the White House.

That is simply hard to believe.

Yet Mr. Obama and his acolytes will tell you that he is cutting the deficit.

Which really doesn't matter when you're racking up debt to the tune of $3 billion a day … a smaller deficit is inconsequential.

So here's the warning and I'm sorry to have to give it.

The CBO says if Congress does not start balancing the budget, the long-term economic situation will be dire.

Taxes will go up on everyone, interest rates will go up because people around the world will not lend us any more money unless they get paid through the roof.

In other words, the American economy will be strangled and could very well crash and burn, taking the welfare of all Americans with it.

Responsible politicians know this, yet they continue to tell you the voter that they will rebuild the American military; that they will stimulate the economy so everybody can have a good job; that they will provide health insurance for people who can't or won't pay for it.

And who's going to pay for that?

People who lend America money, that's who.

So we sink deeper and deeper.

It is long past time for politicians to be honest, to level with the folks.

In the pursuit of votes both parties, but especially the Democrats, have irresponsibly spent money just to pander to the electorate.

America at this point in history remains a great country, but we are getting weaker by the day.

And the reason we are getting weaker is because our debt is out of control.

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