Speaking at Georgetown University on April 14th, Barack Hussein Obama promised:

“We cannot rebuild this economy on the same pile of sand. We must build our house upon a rock. We must lay a new foundation for growth and prosperity — a foundation that will move us from an era of borrow and spend to one where we save and invest.”

Obama likes to have “teaching moments” and tell people “words mean something”. Maybe this is true but Obama words mean nothing because he contradicts himself, many times within the same sentence, certainly in the same speech.

Obama and his Leftist ilk are all about spending, spending and more spending selling out America into a debt ridden wasteland that future generations will ask, “brother can you spare a dime” while they beg for pennies on the street with tin can in hand.

In a very short time Obama and Democrats are creating a legacy of debt that even socialist countries (India) and Communist countries (China) are twitching over as the US dollar falls in value and the world discusses a new currency to rely on in world markets.

Obamaomics has built around the following:

1. Wall Street Bailout
2. Cash for Clunkers
3. Obama’s failed stimulus policy

Even the left-wing NY Times reports:

With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.

In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.

Interests payment of $700 billion is more than the entire US defense budget for next year including the wars in both Iraq and Afghanistan.

While the US debt is growing at the speed of a bullet train much of the current debt is becoming due. The Treasury issued a huge amount of short-term debt and estimates that about 36 percent of the government’s marketable debt — about $1.6 trillion — is coming due in the months ahead.

The Senate voted Saturday night to move forward on a $4.9 trillion in new health care spending. The leftist majorities in Congress say that they will follow with the promised spending cuts and tax hikes to make their bill deficit neutral, but clear minded people don’t believe them.

According to the latest Quinnipiac University poll 72% of Americans admit they understand that Obamacare will only add to our nation’s record breaking $12 trillion national debt.

Only 19% of Americans believe Obama’s promise that health insurance reform will not add to our federal budget deficit over the next decade.

Yes, words mean something and American’s don’t believe Obama. His economics are built on sand, quick sand. We’re sinking fast, indeed!