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>>> Hey, when do we start saying it’s Bammie’s fault!!!

LOL sometime - maybe he will accept responsibility for something. <<<

Ha! that's a good one.. meanwhile here is “reality”

Economist declares ‘train wreck’

By: Victoria McGrane
July 8, 2009 04:50 AM EST

If you thought last week’s job numbers were bad, take a look at the latest from Morgan Stanley’s chief economist, Richard Berner.

In a research note that’s been making the rounds of economics blogs this week, Berner declares that “America’s long-awaited fiscal train wreck is now under way.”

By “train wreck,” he means out-of-control federal budget deficits that he’s sure will finally drag the economy under — as if we weren’t already feeling badly enough about its shaky state.

“Depending on policy actions taken now and over the next few years, federal deficits will likely average as much as 6 percent of [the gross domestic product] through 2019, contributing to a jump in debt held by the public to as high as 82 percent of GDP by then — a doubling over the next decade,” Berner writes on Morgan Stanley’s online Global Economic Forum.

“Worse, barring aggressive policy actions, deficits and debt will rise even more sharply thereafter as entitlement spending accelerates relative to GDP. Keeping entitlement promises would require unsustainable borrowing, taxes or both, severely testing the credibility of our policies and hurting our long-term ability to finance investment and sustain growth,” he adds. “And soaring debt will force up real interest rates, reducing capital and productivity and boosting debt service.”

“Not only will those factors steadily lower our standard of living,” Berner concludes, “but they will imperil economic and financial stability.”

full link:

http://www.politico.com/news/stories/0709/24660.html

Comment: The derivatives bubble which is never mentioned by the SRM, will eventually pollute the kool-aid , you can not go into turn 1 at Dover with a tire rubbing for long.. eventually you're in the wall..

We have been here several months and most times I can only imagine how is was for Noah ( can I get this ready in-time ) or Job ( what pestilence will be sprung upon today )

I know that I would find a way to put more veggies in the ground if I was back in April, because here in July, the prospects are looking bleak, and am now planning on a late season crop.. and have never been so reminded to give thanks for what we do have to can and freeze..

Meanwhile::

Here is your change!!!
Michelle Obama Takes Girls to London for Fish and Chips

Truly change we can believe in -—

or as was said during the campaign, “We are the change we have been waiting for.”

Imagine this -— and when do we get totally fed up? A Boeing 757 and a fleet of armored cars for Michelle’s sight seeing tour!

President Obama flew back to the United States on Air Force One.
His wife, two daughters and her mother did a bit of shopping in Paris before taking their own Boeing 757 (C-32) over to London to do some sight seeing.

We all remember Obama’s admonishment to corporate CEO’s in February: “You can’t get corporate jets, you can’t go take a trip to Las Vegas or go down to the Super Bowl on the taxpayers dime.”Apparently that doesn’t apply to his wife.

The London Times opened it’s description of Michelle’s visit this way:

Motorcycle outriders, armoured Chevrolets and bullet-headed men in raincoats criss-crossed London yesterday as Michelle Obama and her daughters spent a second day on an unofficial visit to the capital..

The Times went on to describe that when Michelle and the girls arrived at Westminster Abbey, the building was closed to tourists with people already in told to “wait against the wall.”

An American visiting the Abbey said “Right then I knew it was probably someone from our ‘royal family’.” Michelle’s motorcade shut down the London street above as the First Lady of the World and her children go for Fish and Chips at a pub in Mayfair .

The entourage inside the restaurant was 15 people while dozens more wait outside. Include the dozens of Air Force personnel to fly and service the plane, embassy personnel and other staff and we are talking about a serious expenditure of tax payer dollars.

Meanwhile, millions of Americans have lost their jobs and won’t be able to take their family on a summer holiday.

Despite their circumstances they’ll still be expected to fork over the tax dollars to pay for Michelle’s trip.

52% WANTED CHANGE. 100% GOT SCREWED!!

TELL YOUR FRIENDS ABOUT THE WAY THE OBAMA'S ARE SPENDING OUR TAX MONEY!!!