Posted on 10/18/2009 3:52:48 PM PDT by Son House
At 10 percent of the gross domestic product, the 2009 deficit is the highest since the end of World War II, when it was 21.5 percent.
http://www.marketoracle.co.uk/index.php?name=News&file=article&sid=14306
“The federal government’s promise to extricate the U.S. economy from this recession involves more spending (increasing public debt) and more subsidies for consumers, such as car rebates and home buying incentives (more private debt). In other words, more debt is supposed to solve the problem of over-indebtedness.
The truth is that this policy merely indentures its citizens further without providing any income for repayment of debt.
Here’s a link to the Heritage article;
Bush Deficit vs. Obama Deficit in Pictures
http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/
What’s driving Obama’s unprecedented massive deficits? Spending. Riedl details:
President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.
President Bush began a string of expensive finan cial bailouts. President Obama is accelerating that course.
President Bush created a Medicare drug entitle ment that will cost an estimated $800 billion in its first decade.
President Obama has proposed a $634 billion down payment on a new govern ment health care fund.
President Bush increased federal education spending 58 percent faster than inflation. Presi dent Obama would double it.
President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already in creased this spending by 20 percent.
President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.
Wow, that's worthy of a million or few as an anchor.
Katie who?
The reason the private sector is shrinking is that the public sector is growing. Interestly, though, the state and local sectors are also shrinking. The feds are making a pig of themselves at the expense of the states and the private sector.
Alas, one has to believe that she is as stupid as she looks.
Thanks to you Couric...
Analysts have described President Obama's budget as a repudiation of the past 25 years of economic pol icy. In doing so, the President has rejected the most prosperous economic period in American history.
Between 1953 and 1982—a period of high tax rates, spending growth, and applied Keynesian eco nomics—the economy was in recession 21 percent of the time, inflation reached 13 percent, interest rates hit 19 percent, and the stock market grew only 5.4 percent annually.
However, beginning around 1982, tax rates were dramatically reduced, and federal spending began decreasing as a share of the economy. In the 26 years following this major policy shift, the economy has been in recession only 10 percent of the time (including the current recession), inflation has never topped 5 percent, interest rates have never exceeded 12 percent, and the stock market (despite increased volatility) has soared 7.0 percent annually, even including the recent 50 percent drop.[25]
The United States has created enormous wealth over the past 25 years. For President Obama to pro pose returning to economic policies of the Carter Administration, which brought stagflation and mal aise, is unfathomable. Lawmakers should reject this budget and instead reduce tax rates for families and entrepreneurs, restrain runaway government, and reform unaffordable entitlements.
Bookmark for later.
ROTFLMAO!! (gasp)
It's in the works and before he is tossed from the Oval Office in 2012, martial law will be enacted and an extended term for the messiah (unelected) will be dictated.
On purpose.
That is not a flattering photo of her to say the least
How many people are not going to get pay raises or bonuses this year or next.
That is the latest hit. Everyone I have spoke to says that their employers are NOT giving any raises etc.
I guess this is the O admins ode to Socialist Utopia. EVERYONE must make the SAME wage.
EQUAL PAY FOR EQUAL WORK...mmm mmm mmm
/s
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