Posted on 02/02/2010 3:33:45 AM PST by lbryce
In a federal budget filled with mind-boggling statistics, two numbers stand out as particularly stunning, for the way they may change American politics and American power.
The first is the projected deficit in the coming year, nearly 11 percent of the country’s entire economic output. That is not unprecedented: During the Civil War, World War I and World War II, the United States ran soaring deficits, but usually with the expectation that they would come back down once peace was restored and war spending abated.
But the second number, buried deeper in the budget’s projections, is the one that really commands attention: By President Obama’s own optimistic projections, American deficits will not return to what are widely considered sustainable levels over the next 10 years. In fact, in 2019 and 2020 — years after Mr. Obama has left the political scene, even if he serves two terms — they start rising again sharply, to more than 5 percent of gross domestic product. His budget draws a picture of a nation that like many American homeowners simply cannot get above water.
For Mr. Obama and his successors, the effect of those projections is clear: Unless miraculous growth, or miraculous political compromises, creates some unforeseen change over the next decade, there is virtually no room for new domestic initiatives for Mr. Obama or his successors. Beyond that lies the possibility that the United States could begin to suffer the same disease that has afflicted Japan over the past decade. As debt grew more rapidly than income, that country’s influence around the world eroded.
Or, as Mr. Obama’s chief economic adviser, Lawrence H. Summers, used to ask before he entered government a year ago, “How long can the world’s biggest borrower remain the world’s biggest power?”
(Excerpt) Read more at nytimes.com ...
After the left and the Carter adminstration got done wrecking America in the 70’s and saying America’s best days were over, along came the great Ronaldus Magnus saying that our best days were yet to come. I like you believe the same.
Exactly. It’s not an accident.
There is a reason, purpose, and agenda for all of this and that it has been all engineered to bring about one thing ?
It’s engineered to bring about America’s downfall economically, politically, America’s world influence, and militarily... <<<
I think there is no way to doubt that any more! We are at war and the enemy is in the gates!
America’s decline was not instituted from the top. All of my life, with only several instances of sanity, rank and file Americans went to the polls to vote in politicians promising the nanny state. Nobody held a gun to their heads or tricked them.
Truly! All that is written will come to pass!
The fear of God is a wise thing!
The commiecRATS can’t risk another election in 2010, maybe never again. Whatever they try in 2010, they must fail.
I think you are both right. On the one hand, the US has taken an economic hit which it might recover from, but on the other, your kind of positive attitude is what will stop that from happening!
Not if we fire the idiot with the credit card, and cancel the policies he’s put in place.
The Founders were adamant about not granting the franchise to morons, women, those under 21, and non tax payers.
The politicians failed to heed their warning, and all of those groups have now been enfranchised via Constitutional amendment and are the reason this Republic cannot possibly endure.
The enemies of Freedom are all around us, the 50 % of Americans that continue vote Democrat.
A populace that gave the maniac algore the popular vote in 2000, elected Bill Clinton twice, and now puts a communist crypto-muslim in the White House is a populace and nation that has only darkness and despair on the horizon.
This Republic will fall, as the non taxpayers will continue to support those politicians who will redistribute money in exchange for votes.
Lets hope that in the new one that rises from its ashes, only taxpayers and veterans are entrusted to have a say on who may govern.
My modest proposal:
1)Cut 2% across all departments of gov. If that means lay-offs, well, welcome to the real world.
2) Eliminate the Dept of Education completely. Nothing can be shown to be a bigger failure than this monstrosity. Get rid of it.
3) Require all fed. employees (including elected officials) to pay Social Security taxes and begin an evaluation of fed pensions to bring them back in line w/ private sector pensions.
Continuing to borrow money from the Chinese is absolutely unacceptable.
And, unfortunately, the Government’s “cure” for the Financial Meltdown was to avoid pain by huge bailouts, guarantees, more regulation, taking over industries, and (of course) bigger Government. And the icing on the cake is we elected an inexperienced Socialist. This assures that the deficits will never go way. We made the wrong choices, plain and simple.
Awe..you don’t say...I can’t believe my ears..that a great nation could actually be destroyed.. FINANCIALLY...or for that matter, MILITARILY...or even MORALLY...or maybe CULTURALLY go to pot. One never knows what one has, until he looses it generally. UP with the debt..go out and charge those credit cards...celebrate..OBAMA says DEBT is good! It’s what makes country GREAT..
True....but the libs/progressives/leftists are masters at manipulating human nature. Promise people “something for free” (ahem....I know, I know), they’ll jump at it EVERY time.
Simple. Devastatingly effective, too. Shame on them for this; shame on America for continuing to take the bait and elect/re-elect such scum.
Absolutely dead-on, FRiend. I have certainly come around to this way of thinking, as well. If you aren’t a taxpayer, you do NOT vote, period.
I’ll also add another essential ingredient: term limits. We must eliminate “career politician” from our political lexicon. It’s time to return to the concept of “citizen legislators”.
Not much of a choice really. We had a socialist with a competent VP candidate vs. a marxist with an incompetent boob senator as a VP candidate.
As a country, we chose the marxist.
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