Time to Clean House
When President Bush left the White House the national debt was $10.6 trillion. During his two terms in office the Republicans voted 8 times to raise the nation's debt ceiling. Their reward for this reckless disdain for the US' economic health is recorded in the 2008 elections.
The Democrats clobbered them, sending these spendthrifts to the bleachers. It was the justice they deserved. Now the Democrats are racking up spending.
They just created the largest one year deficit in history, adding $1.4 trillion of new debt. They have broken every pledge they made, and are breaking new ground on fiscal suicide.
They are on course to add another $1.6 trillion of debt in the current fiscal year. Even a casual observer would question what this administration has in its political arsenal that will insulate it from the same retribution that the Republicans suffered.
There is no good news on the horizon.
The federal government's official statistics confirm there are about 15 million unemployed workers. Mr. Obama's Chairman of the Council of Economic Advisors, Christina Romer, just conceded that the Stimulus Package didn't and won't put a dent in unemployment.
This directly impacts the government's bottom line. Tax revenues will shrink about 18%.
Of course, the Democrats plan to fund more entitlements by raising the nation's debt level to $13 trillion. They are already printing money to pay the interest on the national debt. Expect these weasels to hide this maneuver in the footnotes of another piece of unrelated legislation.
And here comes another $2 trillion in debt. Reid, Pelosi and Obama will soon unveil their universal healthcare scam. Listening to them praise the advantage of another $2 trillion of debt makes one wonder if they've heard about the voters' growing wrath.
Don't kid yourself. There is proof that the Democrats are accurately reading the voter tea leaves. Their attempt to remove reimbursements to doctors from their healthcare bill to "reduce its cost" demonstrates their concern, and lack of even a shred of integrity.
They plan on making their healthcare monstrosity revenue neutral by burying $250 billion of its cost in deficits. Deficits this size can't be sustained without more borrowing, which will quickly make the US currency worthless.
Obama and his sickle and hammer crew are proceeding with their plans to confiscate investment capital with an array of taxes, as if they have nothing to fear. It seems they are depending on the 45% of Americans who don't pay taxes to vote for anyone promising more handouts.
These voters have proven that they are too stupid to realize that the interest on the deficit will soon consume 40% of government revenues, and that massive new taxes on the top 10% of income earners will destroy any chance of economic recovery for a decade.
The elderly depending on Social Security should take note. The only predictable outcome of Obama's economic course is hyper-inflation, which will reduce the buying power of their checks to the point where they won't be worth a bag of sand within three to five years.
And that is the economic reality the nation is approaching at super-sonic speeds. More troubling, there is no proof that the Republicans will be any better.
It's time to clean house.
The Democrats clobbered them, sending these spendthrifts to the bleachers. It was the justice they deserved. Now the Democrats are racking up spending.
They just created the largest one year deficit in history, adding $1.4 trillion of new debt. They have broken every pledge they made, and are breaking new ground on fiscal suicide.
They are on course to add another $1.6 trillion of debt in the current fiscal year. Even a casual observer would question what this administration has in its political arsenal that will insulate it from the same retribution that the Republicans suffered.
There is no good news on the horizon.
The federal government's official statistics confirm there are about 15 million unemployed workers. Mr. Obama's Chairman of the Council of Economic Advisors, Christina Romer, just conceded that the Stimulus Package didn't and won't put a dent in unemployment.
This directly impacts the government's bottom line. Tax revenues will shrink about 18%.
Of course, the Democrats plan to fund more entitlements by raising the nation's debt level to $13 trillion. They are already printing money to pay the interest on the national debt. Expect these weasels to hide this maneuver in the footnotes of another piece of unrelated legislation.
And here comes another $2 trillion in debt. Reid, Pelosi and Obama will soon unveil their universal healthcare scam. Listening to them praise the advantage of another $2 trillion of debt makes one wonder if they've heard about the voters' growing wrath.
Don't kid yourself. There is proof that the Democrats are accurately reading the voter tea leaves. Their attempt to remove reimbursements to doctors from their healthcare bill to "reduce its cost" demonstrates their concern, and lack of even a shred of integrity.
They plan on making their healthcare monstrosity revenue neutral by burying $250 billion of its cost in deficits. Deficits this size can't be sustained without more borrowing, which will quickly make the US currency worthless.
Obama and his sickle and hammer crew are proceeding with their plans to confiscate investment capital with an array of taxes, as if they have nothing to fear. It seems they are depending on the 45% of Americans who don't pay taxes to vote for anyone promising more handouts.
These voters have proven that they are too stupid to realize that the interest on the deficit will soon consume 40% of government revenues, and that massive new taxes on the top 10% of income earners will destroy any chance of economic recovery for a decade.
The elderly depending on Social Security should take note. The only predictable outcome of Obama's economic course is hyper-inflation, which will reduce the buying power of their checks to the point where they won't be worth a bag of sand within three to five years.
And that is the economic reality the nation is approaching at super-sonic speeds. More troubling, there is no proof that the Republicans will be any better.
It's time to clean house.
posted by David at
7:43 AM
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