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President Alfred E. Obama
· Tuesday, June 29, 2010
Observing President Obama's relentlessly reckless approach to our nation's fiscal integrity is reminiscent of the signature phrase of Mad magazine's Alfred E. Neuman, "What, me worry?" Obama struck again last week at the G-20 conference in Toronto, urging other nations to follow his Pied Piper lead into deficit spending hell.
Unlike recent U.S. presidents who recognized and touted this nation as the world's exemplar for economic growth and prosperity, Obama is turning us into a poster nation for financial irresponsibility. While other nations at the meeting were focusing on deficit reduction, Obama was haplessly urging them to join us in Keynesian spending oblivion.
He told the conference that global economic recovery remains "fragile" and implored the nations' leaders to continue deficit spending to sustain the "recovery." The Washington Post reports that Obama's remarks "tempered the Group of 20's headline achievement at the summit, a deficit-reduction target that had been pushed by Canadian Prime Minister Stephen Harper, the host of the meeting and a fiscal conservative."
Obama is wholly impervious to the historical record documenting the failure of FDR's pump priming during the Depression, which exacerbated rather than ameliorated the economic problems. He is similarly detached from reality concerning the failure of his own policies to stimulate growth of any kind to save his beloved public sector and thus recommends more of the same.
In speech after speech, he takes credit for having launched an economic recovery in the United States and for achieving job growth. Notwithstanding his economic models that stubbornly predict such results, he can point to no empirical evidence to verify his delusional boasts.
It would be bad enough if his economic policies were simply retarding our economic recovery, but they are also accelerating our trip to national bankruptcy. Yet Obama continues to press forward with his foot smashed down on the gas pedal.
Though fiscal sanity would demand that we put the brakes on runaway government spending, Obama wants more of it and is in the process of securing it -- not just in the short term but also in perpetuity. Obama launched an array of new spending programs ostensibly billed as temporary -- to help "stimulate" the economy -- but his latest budget, according to The Heritage Foundation, "would replace this temporary spending with permanent new programs." As if that should surprise anyone!
Heritage's latest figures show that federal spending, deficits and debt continue "to grow at a pace not seen since World War II." This year, the federal government is spending $5,000 more per household than it was just two years ago.
Oh, sure, Obama is also touting his promise to halve the federal deficit by 2013 and saying he means it. "People should learn that lesson about me because next year when I start presenting some very difficult choices to the country, I hope some of these folks who are hollering about deficits and debt step up because I'm calling their bluff," he said.
But his theories about deficit reduction might be a bit different from yours and mine. Obama wants us to believe (and apparently can't help believing himself) that our soaring deficits are the result of "messy and unfair" tax laws. You know the drill: The rich are not paying their fair share. Put aside for now his specious and class warfare-driven arguments about the rich. The latest data published by Heritage reveal that 90 percent of the rising long-term budget deficits are driven by rising spending and that just 10 percent of the rising deficits are caused by falling revenues. Moreover, the "tax cuts" for those earning more than $250,000 are responsible for just 4 percent of the swing from surpluses to deficits.
Yet after all his newly imposed federal spending programs, Obama will soon unveil the results of his "bipartisan" budget commission and swear he's going to drastically reduce the deficit -- mostly by raising taxes even more. To make the numbers work, even in theory, he'll have to break -- yet again -- his promise not to raise taxes "of any kind" on those making less than $250,000. And he'll expect to be lauded for his stewardship and given a pass for reneging on his pledge. Those who criticize him for his reckless spending, his broken promises and his economically suicidal blueprint to solve our debt and economic problems through higher taxes will be castigated as mere partisans. So predictable. So maddening. So destructive.
In a nutshell, then, Obama's plan is to spend us into bankruptcy without improving private-sector economic growth, impose national health care and other permanent entitlements to further bankrupt us and suppress the economy, exploit the Gulf oil spill to cram through the further growth-destroying cap-and-trade bill, and then revamp the tax code to place even further burdens on income earners and the economy as a whole. What, me worry? Duh! How about you?
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Marcus
Easy fix David. Let's get everybody in the private sector to quit immediately and go to their local federal handout office. It would be worth it just to see their reaction when we private workers tell the government workers that their money well just dried up, but we'd still like some of that gubment stimlis please. We would stop paying mortgages, taxes, anything to do with government or banks. We would withdraw all of our savings and retirements and shut that industry down.
We'll all be willing to go back to work only when they get rid of public sector unions, eliminate ALL unnecessary government offices,and eliminate the income tax and eliminate all entitlements. Throw in a presidential impeachment while you're at it.
Wouldn't it be wonderful? A country wide private worker strike. If we can't do that, then what are we talking about? The only power we have is economic (70% of the economy?) and we don't wield it because we are not united, and because we are scared to do something radical.
At least you'll get to keep writing about how the sheep are getting sheared again next week.
Posted June 29, 2010 at 10:28:03 AM
Kathy
LOL! What a great comparison - Alfred E Obama! He even looks like him a little, don't you think??
If he launched such a good economic recovery, why doesn't he recite the list of things he's done? HA! He can't, because he didn't do any such thing.
"Obama is also touting his promise to halve the federal deficit by 2013 and saying he means it." So, you think we can believe him this time? Didn't he mean it when he said he'd bring troops home? didn't he mean it when he said he would shut down Gitmo? Nah, not those times, but this time he really means it.
And those people whose bluff he's gonna call next year? I bet they're shaking in their boots.
And he'll "present some difficult choices"??? Choices, being the key word here, is not something he's given anyone. There have been no 'choices', only executive orders, commands from the throne, if you will.
But maybe, he really means it this time, ya think??
Posted June 29, 2010 at 10:42:53 AM
Alaskat
Why are we still giving Obuma a pass by calling him stupid? It's plain to many of us by now that this Communist Marxist president is deliberately bankrupting our nation. Just look at the people behind him pulling the strings, Alinsky, Soros,
and a host of reprobate America haters. The Communist Manifesto works, folks, and it is rapidly destroying us from within exactly according to plan. We are the stupid ones for not impeaching the Obamination Express yesterday.
Posted June 29, 2010 at 12:33:13 PM
pete
obama and congress don't have to worry about a complete economic collapse of the US. They have their position and millions of $$ to support them while the rest of us starve. They will never feel the impact the way Mr. and Ms. Everyday will feel it. And we will still be paying for their protection, travel, housing, transportation, pop-tarts, and every thing else.
Time to eliminate the income tax in favor of a 15% national sales tax to be spread thusly: 2% for County, 1% for City, 2% for school district, 5% for state, and 10% for federal government, half of which MUST go to DoD; and SS tax on 100% of all income other than SS payments and Veterans Disability payments. Those two are EARNED the hard way.
With a little bit of serious thought, that national sales tax should be lowered to 12% within 3 years and to 10% within 5 years. Government will have more money than they do now, everybody will be part of the process (a 99% reduction in underground economies), and workers will be keeping more of the money they earn and invest.
Posted June 29, 2010 at 12:42:11 PM
Gordauch
In response to another editorial concerning the legal fate of a now undocumented Palestinian, JRBeaman suggested
The right man to deport is Barry Soetoro.
Posted June 29, 2010 at 11:18:47 AM
=====
I second the motion.
Posted June 29, 2010 at 12:54:13 PM
Dan Dayton
The man from the "Land of Lincoln", is a hate filled ideolog, who has never admitted to making a mistake in a life, obviously spent blaming others for his miscues. Obama spent his formative years, at the feet, of violent, anti-American, Communists, absorbing their leftist venom, and is diluted to such a point, that I do not think him capable of independent thought, opting for a consensus, from his over-educated, like-minded cronies(Czars). In Canada, at the G-20, he was a source of derision, and embarrassment, but, you gotta admit, he can sure read a teleprompter!...Dan Dayton
Posted June 29, 2010 at 5:25:14 PM
GORDY
I concur with alaskat, we are the sucka's big time economic collapse of our democratic society is vital for
OBAMA to turn our country directly into a socialist and/or communist society dependant on the GOV for everything!even our weekly toilet paper allocations!
Posted June 30, 2010 at 11:50:19 AM
Jimmy D
Gotta post in with Alaskat n Gordie here!
David! You hit the nail on the head as a rule but with this article you get a big bloody thumb!
OK, we don't want to lose our sense of humor and there ARE instances of incredible stupidity coming out of the gang on a daily basis, but there's nothing funny about the Communist plans to destroy this country that are now operating in high gear.
And there's nothing stupid about the endless con jobs they're using to suck this economy dry.
Posted June 30, 2010 at 5:35:30 PM
Free Dame
Pete - I'm with you 100% on a national sales tax to REPLACE the income tax (NOT a VAT scam.) It should have been in place years ago.
Marcus - I agree, we should all quit. My husband and I own a small parcel of land where we can be almost entirely self-sufficient. As soon as possible, we plan to "retire" there. That's two more wage earners/tax payers who won't be footing the bill for Washington and the Entitlement leeches. If enough of us could/would leave, we'd crash their whole idiotic system.
Posted June 30, 2010 at 6:42:08 PM
Jon C Savauge
No disagreement with any post here. One exception; we, the People, somehow, need to remove this man from the White House! Whatever his beliefs, his actions are anti-Republic, pro-Democracy (read totalitarian)and he is a serious threat to the continuance of the Republic of the United States of America! Now!
Posted June 30, 2010 at 9:31:41 PM
Abu Nudnik
@Marcus
We would withdraw all of our savings and retirements and shut that industry down.
Good luck with that Marcus. The banks don't have your money. They have a tenth of it. The other's out in loans.
Posted July 5, 2010 at 1:13:53 PM