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Obama Peddles a Dangerous Fantasy About the Debt Crisis
Investor's Business Daily ^ | 02/12/2013 | IBD Staff

Posted on 02/13/2013 5:24:32 AM PST by IBD editorial writer

Fiscal Policy: President Obama now says the deficit problem is all but fixed, so we can stop all this unpleasant talk about spending cuts and get on with government spending. Maybe this is good politics, but it's reckless policy.

In the run-up to his State of the Union speech, Obama was running around telling everyone how we've already "cut our deficit by more than $2.5 trillion," and are now "more than halfway towards the $4 trillion in deficit reduction that economists . .. say we need to stabilize our debt."

Clearly Obama wants all the dreary talk of deficits off the table. That way he can attack Republicans who try to impose deeper spending cuts, and push for more federal "investments" to help grow the economy.

But there are just two problems with Obama's claim.

(Excerpt) Read more at news.investors.com ...


TOPICS: Business/Economy; Editorial; Government; News/Current Events
KEYWORDS: debt; obama; spending; stateoftheunion

1 posted on 02/13/2013 5:24:40 AM PST by IBD editorial writer
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To: IBD editorial writer

I’d rather see the checkbook register than believe what the conman tells me...


2 posted on 02/13/2013 5:28:59 AM PST by jsanders2001
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To: jsanders2001
Well, if the party of STUPID cannot see this as one of the many to come salvo's to win control of the House in the mid-term elections, so be it.

Words are not Actions. Actions are not Results.

3 posted on 02/13/2013 5:35:58 AM PST by jamaksin
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To: IBD editorial writer; Reaganite Republican; Liz; ding_dong_daddy_from_dumas; Gilbo_3; Impy; ...
RE :”In the run-up to his State of the Union speech, Obama was running around telling everyone how we've already “cut our deficit by more than $2.5 trillion,” and are now “more than halfway towards the $4 trillion in deficit reduction that economists . .. say we need to stabilize our debt.”
....
Instead, this year's deficit will be $845 billion — even after the alleged $2.5 trillion in savings that Obama touts — and will start climbing again in three years, reaching back up to $1 trillion by 2023, according to the latest forecast from the Congressional Budget Office.”

$845B??
Wasnt the deficit about $1.5T last year? 2012?
so did the tax increases (income >$400k, and the FICA payroll) and the budget control act cuts almost cut it in half from that this year?

4 posted on 02/13/2013 5:56:04 AM PST by sickoflibs (Losing to Dems and Obama is not a principle! Its just losing.)
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To: sickoflibs; IBD editorial writer; Reaganite Republican; Grampa Dave; ding_dong_daddy_from_dumas; ...
This is how the hardened criminals in Chicago politics gull the people...and now they're all in Washington.

”In the run-up to his SOTU speech, sap-happy Obama was running around telling everyone how we've already “cut our deficit by more than $2.5 trillion,” and are now “more than halfway towards the $4 trillion in deficit reductions...." as he calulatingly planned to push for even more so-called "federal investments" to (cough) "grow" the economy.

Hmmmmmmm.......sounds an awful lot like the con job Ponzi Madoff pawned off on his hapless investors, as he bilked them out of everything they had. Madoff suavely pushed for ever more "investments" to help their holdings grow. Investors went broke while all the Madoffs got rich.

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MICHELE MALKIN---As her husband delivered his annual SOTU last night, First Lady Michelle Obama hosted the parents of an innocent teenage girl shot and killed by Chicago gang thug. On Friday, President Obama will travel to the Windy City to decry violence and crusade for more gun laws in the town with the strictest gun laws and bloodiest gun-related death tolls in America.

Does the White House really want to open up a national conversation about the state of Chicago? OK, let’s talk.

Obama, his wife, (David Axelrod and ex-COS Rham Emanuel), his campaign strategists, his closest cronies, and his biggest bundlers all hail from Chicago. Senior adviser and former Chicago real estate mogul/city planning commissioner Valerie Jarrett and her old boss, Richard Daley, presided over a massive “Plan for Transformation” in the mid-1990s to rescue taxpayer-subsidized public housing from its bloody hellhole. How’d that work out for you, Chicago?

Answer: This social-justice experiment failed miserably. A Chicago Tribune investigation found that after Daley/Jarrett dumped nearly $500 million of federal funding into crime-ridden housing projects, the housing complexes (including the infamous Altgeld-Murray homes) remained dangerous, drug-infested, racially segregated ghettos. Altgeld is a long-troubled public housing complex on Chicago’s South Side where youth violence has proven immune to “community organizing” solutions and the grand redevelopment schemes championed by Obama and company.

In fact, as I’ve reported previously, it’s the same nightmarish ’hood where Obama cut his teeth as a community activist — and exaggerated his role in cleaning up asbestos in the neighborhood, according to fellow progressive foot soldiers. As always, Obama’s claims to success there were far more aspirational than concrete.

In the meantime, lucrative contracts went to politically-connected Daley pals in the developer world to “save” Chicago youth and families. Another ghetto housing project, the Grove Parc slum, was managed by Jarrett’s former real-estate empire, Habitat, Inc. Jarrett refused to answer questions about the dilapidated housing development after becoming the top consigliere in the Obama administration.

But as the Boston Globe’s Binyamin Appelbaum, who visited the slums several years ago, reported: “Federal inspectors graded the condition of the complex an 11 on a 100-point scale — a score so bad the buildings now face demolition. . . . [Jarrett] co-managed an even larger subsidized complex in Chicago that was seized by the federal government in 2006, after city inspectors found widespread problems.”

Grove Parc and several other monumental housing flops “were developed and managed by Obama’s close friends and political supporters. Those people profited from the [federal] subsidies even as many of Obama’s constituents suffered.” Democrats poured another $30 million in public money into the city’s public schools to curb youth violence over the last three years. The New York Times hailed the big-government plan to fund more social workers, community organizers and mentors and create jobs for at-risk youth.

But watchdogs on the ground exposed it as a wasteful “makework scheme.” One local activist nicknamed it “Jobs for Jerks” because “it rewards some of the worst students in the school system with incredibly rare employment opportunities while leaving good students to fend for themselves.”

Obama and his ineffectual champions of Chicago’s youth will demand more taxpayer “investments” to throw at the problem. But money is no cure for the soaring fatherlessness, illegitimacy and family disintegration that have characterized Chicago inner-city life since Obama’s hero Saul Alinsky pounded the pavement.

As City Journal’s Heather MacDonald noted in a damning indictment of the do-gooders’ failures, “official silence about illegitimacy and its relation to youth violence remains as carefully preserved in today’s Chicago as it was during Obama’s organizing time there.”

Team Obama will find perverted ways to lay blame for Chicago’s youth violence crisis on the NRA, Fox News, George Bush and the Tea Party. But as the community organizer-in-chief prepares to evade responsibility again, he should remember: When you point one finger at everyone else, four other fingers point right back at you-know-who.

http://www.nypost.com/p/news/opinion/opedcolumnists/who_failed_chicago_rzIj6grL6v54LYFc5BOo7J

5 posted on 02/13/2013 6:32:09 AM PST by Liz
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To: Liz
Grove Parc and several other monumental housing flops “were developed and managed by Obama’s close friends and political supporters. Those people profited from the [federal] subsidies even as many of Obama’s constituents suffered.” Democrats poured another $30 million in public money into the city’s public schools to curb youth violence over the last three years. The New York Times hailed the big-government plan to fund more social workers, community organizers and mentors and create jobs for at-risk youth.

But watchdogs on the ground exposed it as a wasteful “makework scheme.” One local activist nicknamed it “Jobs for Jerks” because “it rewards some of the worst students in the school system with incredibly rare employment opportunities while leaving good students to fend for themselves.”

Typical leftist incentives - programs that not only DON'T work but make the situation worse. If leftists were in charge of triage after a natural disaster they would put 50 doctors in charge of helping the one person who has absolutely NO CHANCE of surviving - while allowing those who could be saved to die. Not saying the left is evil and stupid - just that they're evil.

6 posted on 02/13/2013 8:53:28 AM PST by GOPJ ( Illegal immigrants: violent boorish party crashers. Send them home, call police - make them leave.)
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