Posted on 03/20/2009 10:01:24 AM PDT by LoRo
'Forbes on FOX' guests asked if Madoff's Ponzi scheme or Obama's spending plan will cause more economic damage.
According to some “Forbes on Fox” guests, the Obama Administration is more harmful to the economy than Bernie Madoff’s infamous Ponzi scheme.
On March 12, Madoff pled guilty to 11 felony counts including money laundering, perjury, and mail, wire, and securities fraud. On Mar. 14, David Asman asked guests of the show “Who’s worse for the market – Madoff or the folks in D.C.?”
Steve Forbes, Forbes magazine’s editor-in-chief, blamed the folks in D.C. as the worse culprit. Forbes explained that “in terms of what the current administration is doing, in terms of the cost they’re applying to the economy, uh destroying, hitting businesses, small businesses with new taxes, taxing capital, wasting tens and hundreds of billions of dollars, that’s gonna do more economic harm than Bernie Madoff could ever dream of doing.”
Guest Mike Ozanian, accused Obama of running a $2 trillion Ponzi scheme through his economic spending strategy. Ozanian, national editor of Forbes, explained, “Madoff’s scam is about $20 billion. Barack Obama’s Ponzi scheme is $2 trillion. And if you look at how they work the schemes, they’re very similar. Both falsify their returns, Obama has overinflated what the GDP is gonna be, the economy, how much it’s gonna grow. Even the Congressional Budget Office has said Obama’s numbers are way inflated. And to pay for that, he’s gotta bring in a lot of other scamsters through, Obama does, which in this case really are taxpayers.”
As an example of government swindle, Asman cited the annual $50 billion of fraud and waste in Medicare – the same dollar amount Madoff scammed from investors. “One government program wastes as much as Bernie Madoff,” he pointed out.
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(Excerpt) Read more at businessandmedia.org ...
We know Steve......It’s unfolding right before our eyes and the media does nothing!
Looks more to become a 6-7 trillion scheme, not a 2 trillion one IMO.
Keep slamming these befuddled socialists, Mr. Forbes. We need every voice of protest.
rape, loot and plunder (that sttill leaves a lot out)—biz as usual—but we all know we ain’t seen nuthin’ yet, baby!
Forbes is dead on! Hes absolutely right! This government is killing us all by degrees and that steamroller is snowballing. Pretty soon well all be out of our misery if not by a terror attack by our own government.
It’s not the medias job to do something, it is ours, “WE THE PEOPLE” who needs to do something!
I guess Jim Cramer can take off the shirt with the Obama Administration “Bulls-eye” on it and pass it over to Steve Forbes.
Wake up America!
At some point people will stop sending in their taxes. I’m a long ways from there personally, but what if Americans just voted no confidence by refusing to fund this boondoggle? Would there be enough cabinet positions in Zero’s regime to accommodate all the tax protesters? I’d almost like to see the top 1% say “Suck it, Zero” and simply emigrate.
And the Grand Ponzi Scheme of all is Social Security and it hasn’t even been fixed yet......it will take mega $trillions, but the easiest way for dems to fix it is to means test all producers out of it, raise the retirement age to 80, and tax all income to the max with the current social security tax....a dead chicken in every pot! But they will insure their non producer voting base to keep them in power forever!
"We" already did.
The brain dead majority, ignorant voters voted for change
It never occurred to these mental giants that undefined "change" can range from great to abysmal. Is it any wonder that, failing to first determine what kind of change they would be voting into office, they got the absolutely worst, most abysmal kind?
Oh, by the way, the ongoing joke, applied to Palin, about "learning on the job" has really come back to haunt us all. National brain surgery by a hack...
“Madoff’s scam is about $20 billion. Barack Obama’s Ponzi scheme is $2 trillion.Hey obama voters this is what you did to yourself enjoy.
That’s right! before this merry band of idiots got into the white house, Politicians were talking about social security and medicare running out of funding, now we get all this too? This idiot has to go. In two months, it’s been the Indi 500 over the cliff!
Obama Officials: Over Ten Percent Unemployment in 2010,
Another $750B Bailout Likely
Thursday, March 19, 2009 | Kristinn
Posted on 03/19/2009 1:46:02 PM PDT by kristinn
http://www.freerepublic.com/focus/f-news/2210196/posts
Fed planning 15-Fold Increase in US monetary base
Market Skeptics | March 20, 2009 | Eric deCarbonnei
Posted on 03/20/2009 10:11:56 AM PDT by givemELL
http://www.freerepublic.com/focus/f-news/2210841/posts
Ooh, that’s gotta leave a mark...LOL.
The Bible says that in the end men’s hearts will fail them. We’ll all have heart attacks and strokes when we get the bill for all this.
OR kill us all by refusing healthcare to anyone over 70. Think it can’t happen?
Play the new game “Madoff As Hell”
http://www.iwon.com/games/sports-and-action/madoff-as-hell.jhtml
Exactly what I was thinking, including the laugh....LOL
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