It’s a Time to Listen, and to Obey the Laws of Arithmetic

New York Times ^ | November 8, 2008 | N. Gregory Mankiw

[LowCountryJoe]

PAY ATTENTION TO BUDGET CONSTRAINTS The nation faces a long-term imbalance between government spending and tax revenue. The fundamental problem is that the federal government has promised the elderly more benefits than the tax system can support. This fiscal imbalance will become acute as more baby boomers retire and start collecting Social Security and Medicare benefits.

Yet during the campaign, Mr. Obama promised to cut taxes for 95 percent of Americans, to vastly expand health insurance coverage and never to cut Social Security benefits or raise the retirement age. The new administration will almost surely have to renege on some of these promises. As the economic team will often say, even if the laws of arithmetic are ignored during campaigns, they become a real constraint when making actual policy.

[jusduat]

Well, you know I’m not at all greedy. Even that would be
enough for me. Thanks for the encouragement Joe.

[fella]

‘The Great ObamaNation’ (blessed be his name) is not worried about any fiscal imbalance because he knows that his Treasury Department has a number of sophisticated printing presses that are just sitting idle.

[American in Israel]

As another wise freeper said:

Socialism 101

You pretend to work,
We pretend to pay you.

History shows over and over again that Obama’s policys will fail. But the Democrats are falling overthemselves to enact them anyway. But then the same History shows that when Communism is enacted the middle class are destroyed and all their wealth becomes the property of the ruling class.

The greed of the corruption in Congress is so large that siphoning off all the future of America’s working class was not enough, now they want everything left.

They have been siphoning off that wealth till the house of cards they built collapsed, and now to feed their huge bellies, they must kill off and eat the goose that laid their golden eggs.

All I know, is my goose is cooked.