Posted on 05/30/2009 2:24:21 PM PDT by reaganaut1
Ninety years ago the Chicago White Sox intentionally lost--dumped, to you sports fans--the World Series. Legend has it that a young fan implored the team's star, "Shoeless" Joe Jackson, as he emerged from the court house, "Say it ain't so, Joe." The Shoeless one allegedly responded, "Yes, I'm afraid it is, kid."
Let's hope that chief White House economic adviser Larry Summers wouldn't respond similarly if someone were to charge that he sat silently when the administration's political types decided it would be just fine to submit a budget that will take the ratio of debt-to-GDP from around 40 percent to 80 percent--most critics say 100 percent is where the debt-to-GDP ratio will in fact end up in ten years. Surely Summers knows that many economists use a rule-of-thumb that suggests that such an increase will force interest rates up between 1.25 and 1.5 percentage points, with unpleasant consequences for our economic growth rate. Or that, according to the highly regarded Stanford professor John Taylor, we could only inflate our way out of the problem by allowing a 100 percent rise in the price level over a ten-year period.
More important, it was only a few weeks ago that Summers told an audience at the Brookings Institution that it is "a criterion of fiscal sustainability that ensures that once the economy has recovered, the ratio of the nation's debt to its income stabilizes rather than continuing to grow. Once your income has returned to normal ... your debts can't be rising relative to your income." But just such an increase is built into the president's ten-year budget.
Summers is famous for his intellect and ability to shoot down nonsensical ideas, so if he was not asleep or absent, he must have gone along. Say it ain't so, Larry.
(Excerpt) Read more at weeklystandard.com ...
If you don’t own a house, you are paying for one for millions of others.
http://www.usatoday.com/news/washington/2009-05-28-debt_N.htm
Fed Gov Debt = $668,621 Per Household and climbing.
“We have a huge implicit mortgage on every household in America — except, unlike a real mortgage, it’s not backed up by a house,” says David Walker, former U.S. comptroller general, the government’s top auditor.
Maybe this is the guy that taught math to John Williams. If so, it’s understandable why his statistics, and his methodology, hide in the shadows.
What do you think this guy is funny he use to be host on QVC
We need some cash!
http://www.soundclick.com/player/single_player.cfm?songid=6976916&q=hi&newref=1
We have to decide that conservatism is the light, the way, the path, the option that people will take if given the chance.
We have to not only preach conservatism but act it as well. IF we do and the American voters are given the choice socialism will lose every time.
But not to watered down rinoism.
Everything you said makes sense except for the part he can’t move too fast since he is.
60 Years - An Economic Song Parody
http://www.youtube.com/watch?v=l2MjPBNQfv8
We Need Some Cash
http://www.soundclick.com/player/single_player.cfm?songid=6976916&q=hi&newref=1
You two are GREAT!
I love your graphics!
Steve Bryant - A Beautiful Day in Guantanamo
http://www.soundclick.com/player/single_player.cfm?songid=7279538&q=hi&newref=1
Math education in America, weak and getting worse.
Steve Bryant - A Beautiful Day in Guantanamo
You tube
http://www.youtube.com/watch?v=QcGIt24UQjk
My Space - An Anti-Pedophile Parody
http://www.youtube.com/watch?v=8R0mfZ2SBSA
They want to make us think they're crazy and that we're crazy, too.
Gitmo was customized for Mideast terrorists and is grander with more amenities than any continental prison. There are ball courts, arrows pointing east everywhere, and the weather is perfect.
When Obama decides something he never gives a reason because there is no plausible one.
Beautiful Day in Guantanamo is funny!
The prisoners are happier there and Americans are happy with them there.
And now one's ever escaped from Gitmo.
Gitmo how I love ya, how I love ya
My dear old Gitmo
I'd give the world to stay
Among the folks in G-I-T-M-O even know they
They want to move me
To a dark hole.
Your post creeped me out. Why? Why are people in powerful positions just standing by? It doesn't make sense. What is really going on in our country?
I hope you don't mind. Check my homepage!
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