Showing posts with label deficits. Show all posts
Showing posts with label deficits. Show all posts
Friday, February 18, 2011
30K Per Household
The amount that the Obama administration (and Congress) has borrowed per household since the economic stimulus was signed into law two years ago (and no, I do not excuse the Bush administration which was no more interested in fiscal sanity than the Obama administration). Obviously this is unsustainable and will lead to serfdom for all but the ruling and financial elites. Welcome to the reign of Louis XIV.
Monday, July 6, 2009
California, Obama, and Never Ending Deficits
An excellent read from Bloomberg. I find this paragraph both sad and funny.
The federal picture is so bleak because the Obama administration is the most fiscally irresponsible in the history of the U.S. I would imagine that he would be the intergalactic champion as well, if we could gather the data on deficits on other worlds. Obama has taken George W. Bush’s inattention to deficits and elevated it to an art form.
"The intergalactic champion of fiscal irresponsibility," it has quite a ring to it, doesn't it?
The federal picture is so bleak because the Obama administration is the most fiscally irresponsible in the history of the U.S. I would imagine that he would be the intergalactic champion as well, if we could gather the data on deficits on other worlds. Obama has taken George W. Bush’s inattention to deficits and elevated it to an art form.
"The intergalactic champion of fiscal irresponsibility," it has quite a ring to it, doesn't it?
Thursday, June 18, 2009
A Perfect Example of Orwellian DoubleSpeak
A remarkable little news item from Bloomberg wherein the President swears he will keep his campain pledge not to raise taxes "on working families." I'll post what he said then interpret the doublespeak for you.
“If we are growing at a robust rate, then we can pay for the government that we need without having to raise taxes.” Interpretation: This depends on the exact meaning of the word "robust" which I myself will define since I'm the President and can do whatever I want.
“I’m confident that we don’t have to raise taxes on ordinary working families,” he said. Interpretation: If we DO have to raise taxes (which we will), I will simply say that Congress is begging me to do it, and despite my personal preference, I will yield to the will of the people.
He also repeated his promise to cut the budget deficit, forecast to hit $1.8 trillion this year, in half by the end of his first term. Interpretation: Who cares whether this actually happens, four years is a long time and no one will remember any of my promises.
“If we are growing at a robust rate, then we can pay for the government that we need without having to raise taxes.” Interpretation: This depends on the exact meaning of the word "robust" which I myself will define since I'm the President and can do whatever I want.
“I’m confident that we don’t have to raise taxes on ordinary working families,” he said. Interpretation: If we DO have to raise taxes (which we will), I will simply say that Congress is begging me to do it, and despite my personal preference, I will yield to the will of the people.
He also repeated his promise to cut the budget deficit, forecast to hit $1.8 trillion this year, in half by the end of his first term. Interpretation: Who cares whether this actually happens, four years is a long time and no one will remember any of my promises.
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