For those who understand numbers better when they see graphs, here's one that might interest. It's the comparison of the Bush deficit and the Obama deficit.
But would people even care? If you don't pay taxes, if you're of the mind that the government owes you and will take care of you, what do you care if spending is out of control...as long as you get yours.
I imagine our taxes will go up after all the changes are complete. Many will convert to the government health insurance as they won't want to pay twice... out of their pocket and out of their taxes for the ghi that others have.
I sincerely believe... that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
Yes, the spending is bad, yes Obama could have taken a better path;
But let's not get carried away. Total national debt is not yet at historic levels, as compared to GDP. After WWII total debt soared to around 110% of GNP (forerunner of GDP.)
Unfortunately, Obama has another full 3 plus years to spend more money, if the FED allows such a gamble. Depending on what happens with monetary policy, things could turn out just fine, and Obama will be seen as a GENIUS ! ! !
The problem is, the reverse has it's own problems, and legacies. Should Obama's plans clash with those of the FED, then all bets are off, and Obama will go down as the first Head Whiner in Chief, as he spends the rest of his administration blaming bush bush bush.
There's no in between here kids, and no matter what happens, his "legacy" is nearly assured, as there are only two options.
All the charts I've seen of this show that today is the worst it's been since WWII, and with the numbers going up, it's bound to get even closer to that.
No one would accuse the President of fiscal discipline, but what concerns me is that he wants to spend massive amounts of money to destroy the U.S. economy. For example:
1. The Porkulus bill is running up the national debt by $780 billion with little effect on the recession. The President's talk has changed from "crisis" and "immediate impact" to "2012" (when he is running for reelection).
2. Health Care Reform will cost $1.5 trillion (over 10 years according to CBO) for a government takeover of 1/6th of our economy. If past government spending on health care is an indicator, $1.5 trillion will be $5 trillion or more by the time it is implemented, causing a major drag on the economy.
3. Cap & Trade will raise the cost of everything America produces (and consumers buy) just to make the U.S. look "green" to th UN and Europe, just so the President doesn't get criticized by his leftist pals at international meetings. Meanwhile, our economy will sink lower than winter temperatures (due to "global cooling") because of the burden on both industry and consumers.
Our inexperienced President has never managed a business of any size, yet our media and liberal establishment are willing to trust him with management of the Executive branch of our government, and with the health of our economy. Unfortunately, they were able to talk a majority of the voters into taking the same risk and the U.S. economy is now at stake.
Let's hope the voters are returning to their senses and can slow the leftists down, or this country is in the crapper!
Amazing how much a man with no experience can mess up, isn't it? :) The people who want something for nothing are still out there. They're the ones who think health care is free. They're the ones who think it's perfectly fine to take money from their next door neighbor who worked 16+ hours per day and went without a salary for 3 years while building a business that finally, after 10 years, is earning his family over $250,000.
Yes, it does. But you know, those who want this so badly don't pay taxes. It still amazes me that 40% of working Americans don't pay taxes. They'll argue that they do - it's taken out of their pay checks. Sure. Then they get refunds...sometimes 2 & 3 times what they paid in.
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Comments: 22
too bad the mainstream won't let the people know......
should pray!! God's will be done.
I sincerely believe... that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
-Thomas Jefferson
But let's not get carried away. Total national debt is not yet at historic levels, as compared to GDP. After WWII total debt soared to around 110% of GNP (forerunner of GDP.)
Unfortunately, Obama has another full 3 plus years to spend more money, if the FED allows such a gamble. Depending on what happens with monetary policy, things could turn out just fine, and Obama will be seen as a GENIUS ! ! !
The problem is, the reverse has it's own problems, and legacies. Should Obama's plans clash with those of the FED, then all bets are off, and Obama will go down as the first Head Whiner in Chief, as he spends the rest of his administration blaming bush bush bush.
There's no in between here kids, and no matter what happens, his "legacy" is nearly assured, as there are only two options.
1. The Porkulus bill is running up the national debt by $780 billion with little effect on the recession. The President's talk has changed from "crisis" and "immediate impact" to "2012" (when he is running for reelection).
2. Health Care Reform will cost $1.5 trillion (over 10 years according to CBO) for a government takeover of 1/6th of our economy. If past government spending on health care is an indicator, $1.5 trillion will be $5 trillion or more by the time it is implemented, causing a major drag on the economy.
3. Cap & Trade will raise the cost of everything America produces (and consumers buy) just to make the U.S. look "green" to th UN and Europe, just so the President doesn't get criticized by his leftist pals at international meetings. Meanwhile, our economy will sink lower than winter temperatures (due to "global cooling") because of the burden on both industry and consumers.
Our inexperienced President has never managed a business of any size, yet our media and liberal establishment are willing to trust him with management of the Executive branch of our government, and with the health of our economy. Unfortunately, they were able to talk a majority of the voters into taking the same risk and the U.S. economy is now at stake.
Let's hope the voters are returning to their senses and can slow the leftists down, or this country is in the crapper!
It nicely sums up the liberals self-deception.
Great post and graph. Every Dem should see it .