Debt and Deficits

Temporary Debt Limit Extension Passed, is Osama Bin Laden Winning?

Said back in 2004 he intended to force America into bankruptcy


national security risk?

The Senate today passed a measure temporary extending the federal government's borrowing authority through May. The president is expected to sign it and the U.S. government is expected to keep borrowing. The U.S. debt clock has the national debt approaching $16.5 trillion and the federal government spends about two dollars for every dollar it receives. The path doesn't seem sustainable at all, and once again talk of default fills the air in Washington. And as Al-Qaeda makes its latest threat against America, it's worth rewinding to a bin Laden tape released in 2004. From a CNN article dated November 2, 2004:

The Arabic-language network Al-Jazeera released a full transcript Monday of the most recent videotape from Osama bin Laden in which the head of al Qaeda said his group's goal is to force America into bankruptcy…

"We are continuing this policy in bleeding America to the point of bankruptcy. Allah willing, and nothing is too great for Allah," bin Laden said in the transcript.

Despite President Obama's protestations that America paid for two wars on a credit card, he hasn't shown any desire to stop using those cards. This week's confirmation hearings for John Kerry (concluded) and Chuck Hagel (ongoing) have so far displayed the continuing popularity of an ever expanding interventionist foreign policy among the political establishment. "The most significant threat to our national security is our debt," Admiral Mike Mullen said in 2010. And while Politico reports that the sentiment has gained a life of its own in Washington, the complete lack of substantive effort by the powers-that-be to rein in federal spending by any significant measure betrays the lack of seriousness among our political class in facing that threat. In fact, so long as budgets keep rising, the threat can't even be considered acknowledged, political posturing to the contrary notwithstanding.

Spending vs. revenue since 1999:

threat matrix it

NEXT: Congress Passes Temporary Debt Limit Suspension

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  1. Why does Reason support teh terrrrrrrristsz?

  2. “nothing is too great for Allah”

    “A ham sandwich is better than nothing.”

  3. Al Queda needs to make a hologram Bin Laden like was done for Tupac.

    1. Except one of those two isn’t actually dead.

  4. It’s a new mantra for much of the national security world: “The most significant threat to our national security is our debt.”

    Since the line was first spoken over two years ago, it has taken on a life of its own.

    And the man behind the quote ? retired Adm. Mike Mullen, former chairman of the Joint Chiefs of Staff ? has not backed away from it.


    Instead, he’s made the debt and the danger it poses to national security a central focus of his work since retiring last year.

    Tuesday he appeared at the Newseum in Washington to announce the formation of a group of 15 national security and economic leaders who are urging the government to act quickly to avert the fiscal cliff.


    When he says the debt is the greatest national security threat of our time, I think he means because it might cause budget cuts.

  5. Hard to win when you are sleeping with the fishes at the bottom of the East River.

  6. We are continuing this policy in bleeding America to the point of bankruptcy. Allah willing, and nothing is too great for Allah

    Al Qaeda, and Allah, had nothing to do with it. America’s been bleeding to the point of bankruptcy for a long, long time. Our last year with a federal surplus was 1957. (2000 came close but didn’t quite make it)

  7. If all of those outlays were military, this post would have a point. But they are not. Did Osama cause us to pass the stimulus and raise baseline spending by 50 percent?

  8. The freedomists are obviously losing.

    1. Good! The racist haters of the poor are losing.

  9. Osama bin Laden has certainly proved to be smarter than the American people (although, it’s not like that is difficult). His strategy is likely to win. The question is, a century from now will Americans condemn him or thank him for it? I’m not always sure.

  10. “We are continuing this policy in bleeding America to the point of bankruptcy. Allah willing, and nothing is too great for Allah,” bin Laden said in the transcript. – –

    So basically our corporate banks and congress are guilty of ‘material support of terrorism’ for helping Bin Laden bring us to the brink of bankruptcy. Awesome. Now WTF do we do about it?

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