Posted on 02/03/2010 2:21:58 PM PST by blueyon
If any CEO in the USA presented his board with a budget that was one-third unfunded, he would be fired and tossed out of the boardroom immediately.
President Barack Obama recently revealed a $3 trillion budget that had a $1.6 trillion deficit. The maximum deficit presented to Congress prior to this president was approximately a half-trillion dollars (in George W. Bush’s last year, $700 billion of his deficit was a loan, resulting in a net deficit of $500 billion).
Our president has made anemic gestures to reduce spending in his budget in certain non-discretionary areas. However, these are not to take place this fiscal year. If President Obama truly and sincerely wishes to reduce the deficit, he must take similar action that everyday U.S. corporations implement when confronted with huge losses.
(Excerpt) Read more at thehill.com ...
Watchdog: TARP tab could hit $24 trillion
http://www.washingtontimes.com/news/2009/jul/21/watchdog-says-tarp-tab-could-hit-24-trillion/
Bush Deficit vs. Obama Deficit in Pictures
http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/
Clyburn: ‘We’ve got to spend our way out of this recession’
The U.S. government must spend its way out of the recession, the Democrats’ third-ranking House leader stressed Monday.
Rep. James Clyburn (D-S.C.), the House majority whip, said that trying to find greater savings in the budget, which was released by President Barack Obama this morning, wouldn’t help alleviate the recession.
“We’ve got to make some decisions here as to what’s in the best interests of our country going forward,” Clyburn said during an appearance on Fox News. “And I think the best interest is to invest in education, control these deficits, while at the same time trying to get people back to work.”
“We’re not going to save our way out of this recession,” the majority whip added. “We’ve got to spend our way out of this recession, and I think most economists know that.”
It appears to be a planned bankruptcy. But they have the power to print. This leads me to think they will either inflate or deflate in to depression. Deflation would help the banks and the ultra rich. Odds are for deflation.
God help us with these Marxists in charge. They are systematically destroying America
Well he may not. Look at what we are doing.
We have to spend our way out of recession? Huh? Is that like spending your way out of bankruptcy?
Wow. Our government is indeed broken.
“...or screwing your way to virginity”. -Tiger Woods
bttt
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