Tag Archive: Trillions


Mark Steyn: Magical Fairyland Budgeting

 

 

“I’m also issuing a new goal for America,” declared President Obama at his “State of the Union” on Tuesday. We’ll come to the particular “goal” he “issued” momentarily, but before we do, consider that formulation: Did you know the president of the United States is now in the business of “issuing goals” for his subjects to live up to?

The State of the Union is the opposite. The president gives a performance, extremely animatedly, head swiveling from left-side prompter to right-side prompter, continually urging action now: “Let’s start right away. We can get this done. … We can fix this. … Now is the time to do it. Now is the time to get it done.” And at the end of the speech, nothing gets done, and nothing gets fixed, and, after a few days’ shadowboxing between admirers and detractors willing to pretend it’s some sort of serious legislative agenda, every single word of it is forgotten until the next one.

In that sense, like Beyoncé lip-synching the National Anthem at the Inauguration, the State of the Union embodies the decay of America’s political institutions into a simulacrum of responsible government rather than the real thing, and a simulacrum ever more divorced from the real issues facing the country. “Over the last few years, both parties have worked together to reduce the deficit by more than $2.5 trillion,” said the president. Really? Who knew? “Now we need to finish the job.” Just one more push is all it’ll take.

What’s he on about? The annual “deficit” has been over a trillion for every year of Obama’s presidency. The cumulative deficits have, in fact (to use a quaint expression), increased the national debt by $6 trillion. Yet Obama claims Washington has “reduced the deficit” by $2.5 trillion, and all we need to do is “finish the job.” “

 

“The War on Children”

  ”  If you think Barbara Boxer’s right about General Romney’s war on woman, feel free to waste
your vote. But what else is likely to happen between now and the next time you cast a presidential ballot? We’ve rehearsed the fiscal stuff in this space before: China becoming the world’s biggest economy, another American downgrade, total U.S. liabilities equivalent to about three times the entire planet’s GDP. A “non-partisan” Pew Research study says the American middle class faces its “worst decade in
modern history” — and the first bump down starts on January 1: The equally “non-partisan”
Congressional Budget Office now says that the tax and budget changes due to take effect at the
beginning of 2013 will put the country back in recession and increase unemployment. This is a
revision of their prediction earlier this year that in 2013 the economy would contract by 1.3 percent. Now they say 2.9 percent. These days, CBO revisions only go one way — down. They’re gonna need steeper graph paper. In a global
economy, atrophy goes around like syphilis in the Gay Nineties: A moribund U.S. economy further mires Europe, and both slow growth in China, which means fewer orders for resource-
rich nations. . . . Four wheels spinning in the mud, and none with a firm-enough grip to pull the vehicle back on to solid ground.”

  “Ten inconvenient truths about the national debt”

Here is truth number one .
 

” 1.) The amount by which the public debt — the portion of the national debt not borrowed by the
U.S. government from funds it administers — has increased since President Obama took office
is unprecedented, not politics as usual: more than $4.75 trillion (more than 75%), according
to the Treasury Department. If the president’s second-term budget is implemented, he will end up (according to the Congressional Budget Office) increasing the public debt by $8.9 trillion. That exceeds the public debt incurred by all previous presidents combined — by more than $2.6 trillion. “

Via Gatewaypundit

” Even top Democrats admit Barack Obama’s economic policies failed. Rep. Henry Waxman(D-CA) told CSPAN today,

“The economy has not recovered… I think
it’s a depression.” ”

   In this bizarre world of Obama we find ourselves once again in a ” if pigs could fly ” moment …. We are in substantial agreement with another hardline liberal , Henry Waxman .

  While we seldom share much sentiment with Dennis Kucinich , in this case we stand on common ground .

” Ohio Democratic Rep. Dennis Kucinich thanked Texas Republican Rep. Ron Paul for his “diligence” in advocating for a bill that would
give the Government Accountability Office the authority to fully audit the Federal Reserve, adding that it is “baloney” to suggest Congress
cannot “touch the Fed.”

   The legislation moved through the House Oversight Committee and Government Reform Committee on Wednesday. ”

  
   This is an issue that should have been dealt with ages ago . The FED needs to audited and brought to heel immediately .

”  “When Congress created the Fed in 1913,.Congress delegated specific tasks to it, and Congress remains constitutionally-obligated to conduct oversight over the Fed as a result. The Fed should not be permitted to operate in the dark without oversight by Congress and
accountability to the people.” ”

   Support this bill . Call your congressman . Make some noise .

Jobs ? What Jobs ?

“The Keynesian government-spending model has proven a complete failure. It’s the Obama model. And it has produced such an anemic recovery that frankly, at 2 percent growth, we’re back on the front end of a potential recession. If anything goes wrong — like another blow-up in Europe — there’s no safety margin to stop a new recession.”

  “President Barack Obama has done something no other president has ever done. Just as Barry Bonds set the single-season record for home runs, Obama is the debt leader of politics. He has set the single-term record for debt, breaking the $1 trillion mark every year in office. This week, he hit the  $5 trillion mark, an all-time record for debt racked up during a single presidential term. “