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| Name: |
MartiniMan
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| Subject: |
Budget and Deficit Insanity
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Date:
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3/30/2009 8:32:49 AM
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Good quote for those who voted for Obama to consider:
Just this week, former Clinton budget director Alice Rivlin conceded that Obama's budget could present a "scary scenario" that would "raise deficits to unsustainable levels well after the economy recovers." The solution, she wrote, is higher taxes, and not just for the richest of the rich.
CBO is now saying that the Obama budget will add nearly $1 trillion ($1,000 billion) to the deficit EACH YEAR FOR THE NEXT 10 YEARS (I am not shouting, this is the only way I know to highlight an important point) which is not sustainable as structural debt. What is happening right now folks is Obama is using the economic crisis as a smokescreen for implementing a vast increase in the size, scope, intrusiveness and cost of federal government that in the long run will reduce our economy to a shadow of what it is and could be in the future. Do we really want double digit inflation if they print money or deflation if new taxes tank the economy? Do we really want European unemployment levels that are always 5% higher than ours?
I recall quite clearly during the debates last fall Obama railing against a cumulative $450 billion deficit under Bush and rightly pinning part of the blame on McCain voting for those budget increases. It appears that not only wasn't he serious about deficits but his real objection washow the money was spent. For Obama any deficit is acceptable as long as it is spending on federal entitlement programs so he can "spread the wealth".
Folks, this is socialism in action and I hope and pray enough Americans still care about our long-term economic well being and what we will leave our children to have to deal with that we rise up and force Obama to alter from this disastrous course.
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| Name: |
Talullahhound
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| Subject: |
Budget and Deficit Insanity
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Date:
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3/30/2009 9:57:22 AM
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As you know, I voted for Obama, and I agree that it is scary. USA is now being blamed by the rest of the world for irresponsible spending.
I watched Geitner on the Stepanopolius show yesterday and he didn't leave me with a feeling of confidence. He continues to make the case for not doing enough claiming it's just a short term deficiet until the economy recovers.
I understand that Pelosi has said that anything to do with cuts in entitlement programs is off the table.
From the discussion on Morning Joe this morning, I rather that since the numbers don't add up, they've gone from a 5 year projection to a 2 year projection to make the numbers look better.
Not a happy camper these days.
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| Name: |
lakngulf
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| Subject: |
Budget and Deficit Insanity
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Date:
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3/30/2009 11:04:09 AM
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I know I am simple minded, and we have a BIG problem before us. But if we got into this mess because people were making debts they could not honor, HOW can we get out of this mess by a whole country making debts it cannot honor?
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| Name: |
MartiniMan
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| Subject: |
If it gets too depressing
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3/30/2009 12:29:46 PM
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Take my approach during the inauguration.....I set up a one week cone of media silence around me. Yes it was gutless and childish of me but my blood pressure was already spiking. :-)
It is completely depressing to see how Pelosi and Reid are behaving and as I feared Obama can't or won't have any influence on them or their positions. If you remember in several of my pre-election diatribes (yes I recognize I go on diatribes.......I know, you never noticed, right?) I wondered whether Obama was more ideological or ambitious, the theory being if he were ambitious he might tack to the right on some issues ala Clinton. The jury is still out but I am not encouraged.
At some point I think a lot of Obama voters like yourself will realize that he didn't mean a lot of what he was saying during the campaign and is reflexively moving ever leftward to the great detriment of the long-term viability of the country and financial health of our children. Maybe in 2010 we can see a shift in the house of representatives that will act as more of a counterbalance. The Senate will likely not change much because there are more Republicans on the ballot.
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| Name: |
water_watcher
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| Subject: |
Budget and Deficit Insanity
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Date:
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3/31/2009 6:39:05 AM
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This will all come to a head when China stops buying treasuries. That is a scary thought too. They do not like what Obama is doing and they have already slowed their purchases. If they stop or start pulling dollars out, interest rates will sky rocket and inflation will take off as the dollar is devalued.
Remember the misery index under Carter and stagflation. Ger ready ... it will make the Carter years look like paradise.
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