Obama’s Big Fat Greek Budget: His debt is Your Children's Future

FrontPage Mag ^ | 02/04/2015 | Daniel Greenfield

[SeekAndFind]

In a speech at the Department of Homeland Security, Obama declared that he wants to “replace mindless austerity with smart investments that strengthen America”. Those “smart” investments scattered across a gargantuan $4 trillion budget include a $500 million Green Climate Fund for the Third World and $105 million to help the government build better websites.

Obama is fond of putting the word “smart” in front of stupid ideas to make them seem less stupid. The $4 trillion budget is actually as stupid as the new left-wing Greek government elected on a platform of not paying its debts. This new government intends to replace the old policy of getting money in exchange for cutting spending with a new policy of not cutting spending and demanding money anyway.

So far this new policy has been rejected by every country from Germany to China.

Greece has managed to spend itself into a debt that stands at 175 percent of its GDP. But of course we’re Americans. Our “smart” government with its “common sense reforms” and eagerness to spend a vast fortune to build better websites couldn’t possibly have dug us into a hole that deep.

Our debt-to-GDP ratio is only 101 percent. Under Bush, it stood at 64 percent. By the time the last election rolled around, it was nudging 100 percent.

But that’s no reason for “mindless austerity”. It’s no reason to stop investing in things like spending hundreds of millions of dollars to help Third World countries buy crudely inefficient solar panels from China that will break down even before our economy does.

Obama’s idea of “smart” investments that “strengthen America” is to borrow money from China to buy things from China for other countries. That’s not even a smart investment for China which has been reducing its holdings of US Treasury bonds because it’s not all that confident in our “smart” investments.

While Obama announced that he wouldn’t accept a budget that doesn’t raise spending, Greece’s left-wing finance minister also announced that he won’t accept “the self-perpetuating crisis of deflation and unsustainable debt”.

“You have to be prepared to blow the whole thing up, simply by being intransigent if you are not taken seriously,” he declared.

That’s also Obama’s strategy. Intransigence and blowing up the economy is all he brings to the table. Greece’s finance minister plans to go after multinationals and the rich to close the gap. Considering how fast the wealthy and corporations fled France when its Socialist government tried that, you can only imagine what will take place in Greece. But the Greek leftist strategy is also Obama’s strategy.

Both act as if the existence of a massive debt is something that they can ignore if they feel like it. Debt, like war, will be over if you want it to be. You can wave it away with imaginary economics.

Obama promises that his illegal alien amnesty and ObamaCare boondoggles will save us so much money that a $4 trillion budget will be no challenge. Every one of his disastrous proposals can be paid for with their own promises. Money is being spent using his own speeches as the IOU.

The Greek left is doubling down on unions, attacking privatization and hiring more government workers. Its priorities are the same ones as those of Obama, Jerry Brown or Bill de Blasio. The attacks on austerity use homeless families as human shields, but they are really about protecting the institutions of the left.

Austerity simply means living within a budget. The Keynesian budgetophobes, who portray budgetary restraint as the plot of some Dickensian villain, insist on more “smart” investments in big government. And when you’ve made enough “smart” investments that your bonds are junk and the banks won’t lend you any more money at favorable terms, then it’s time to denounce that austerity.

The left makes crazy promises that it can’t keep, spends money it doesn’t have and then waits until a halfway responsible government gets into office so that it can denounce its austerity cutbacks. It goes deep into debt to international banks and then rants and raves against them. And then it asks them to lend it more money. It denounces the European Union, but suckles greedily at its financial lifelines.

Obama denounces a “mindless austerity” that his own mindless spending and refusal to compromise made necessary. His $4 trillion budget consists of phantom taxes that will never be collected, imaginary savings that will never materialize and entirely real amounts of money being spent to create a huge pile of debt and massive deficits down the road.

The closest thing Greece has to a plan is to turn to Russia in the hopes that either Vladimir will be generous or the EU will panic at a breach in the sanctions on Russia and cut Greece’s debt some more. That’s not economic reform; it’s political terrorism aimed at extracting money, not for a recovery, but to delay the reckoning a little longer before dumping the problem into the lap of another government.

Obama is all too familiar with that brand of political terrorism. When S&P downgraded Treasury debt, former Treasury Secretary Timothy Geithner warned that the credit rating firm would have its actions “looked at very carefully.” A $5 billion lawsuit followed. Whether it’s the American left or the Greek left, they both still believe in solving their mathematical problems at the point of a gun.

Obama needs Wall Street the same way that the Greek left needs the European Union. It’s a corrupt and dysfunctional relationship in which after all the noise dies down, the real losers are the taxpayers. Greece’s tax revenues are already falling. Its plan to squeeze more money will only accelerate the process. Obama’s plans to loot revenues outside the country are even more willfully delusional.

That leaves what’s left of the middle class as the biggest target. Google isn’t going to let Obama pick its pockets. But the middle class has fewer options. Obama’s plan to tax 527 college fund savings has been aborted, but it’s only the first shot across the bow of the upper middle class and then the middle class.

When Obama talks about “middle class economics”, what he really means is an economics built on taxing the middle class. His budget, with its expansion of the earned income credit and free community college, doesn’t offer much to the middle class, but it takes a lot.

And what it takes most of all is their future.

Debt is about more than just money. It’s about the end of expectations and the death of hope.

Polls of Greek adults showed them to be the biggest pessimists globally, but Americans are catching up. Three quarters of Americans are not confident that their children will live better than they will. The first American generation to see a decline in living standards has been born under a cloud of debt, surrounded by rising prices and falling incomes. It sees a government that spends trillions in their name which they will be expected to somehow repay with the jobs that don’t exist anymore.

The generations of tomorrow will be the ones left holding the bill for Obama’s debt. His $4 trillion budget is paid with the coin of their lives and dreams. His debt is their future.

[sten]

$4 trillion annual budget with $2.6 trillion in tax revenues?

good luck with that

[goldstategop]

That’s why this budget should be DOA.

Its a gigantic Ponzi scam.

If we could spend our way out of our debt, then we wouldn’t need a budget.

Only Obama thinks our problem is we aren’t spending enough.

[OneWingedShark]

Its a gigantic Ponzi scam.

Worse.
It's selling us, and our children, and their children [ad infinitum] into slavery.

[jmacusa]

“Mindless austerity’’. There is the heart and soul of this narcissistic prick, the Occupy mob and the ''L'efant terrible'' entitlement mentality. "It's mine, gimmie it, I want it and you have to pay for it''. No one has ever told this Marxist stooge ''NO!''. God how I hate this bastard.

[Beagle8U]

They elected the bastard, let the little dummies pay for it! Perhaps the Yutes will make better choices on election day in the future.

[Ezekiel]

The left makes crazy promises that it can’t keep, spends money it doesn’t have and then waits until a halfway responsible government gets into office so that it can denounce its austerity cutbacks. It goes deep into debt to international banks and then rants and raves against them. And then it asks them to lend it more money. It denounces the European Union, but suckles greedily at its financial lifelines.

Obama denounces a “mindless austerity” that his own mindless spending and refusal to compromise made necessary. His $4 trillion budget consists of phantom taxes that will never be collected, imaginary savings that will never materialize and entirely real amounts of money being spent to create a huge pile of debt and massive deficits down the road.


enig·ma
noun

: someone or something that is difficult to understand or explain

1

: an obscure speech or writing

2

: something hard to understand or explain

3

: an inscrutable or mysterious person

Origin of ENIGMA

Latin aenigma, from Greek ainigmat-, ainigma, from ainissesthai to speak in riddles, from ainos fable


Obama’s Big Fat Greek Budget: His debt is Your Children's Future

Daniel 8

23. And in the latter time of their kingdom [Greece], when the transgressors have reached their full measure, a king of fierce countenance [az-paniym = impudent, audacious], and one who understand riddles [mevin chidot = expert/maven of riddles]*, shall arise:
24. And his power shall be mighty, but not by his own power; and he shall cause awesome destruction, and he shall prosper, and act, and he shall destroy the mighty and the holy people:
25. And through his cunning he shall make deceit prosper under his hand; and he shall magnify himself in his heart, and without difficulty shall destroy many; he shall also stand up against the Prince of princes; but he shall be broken by no human hand:

*Maven:

A maven (also mavin) is a trusted expert in a particular field, who seeks to pass knowledge on to others. The word maven comes from Hebrew, meaning "one who understands", based on an accumulation of knowledge.[1]

http://en.wikipedia.org/wiki/Maven

An expert in deceit, slight of hand, empty promises, lies... IOW, the economics of destruction

The left makes crazy promises that it can’t keep, spends money it doesn’t have and then waits until a halfway responsible government gets into office so that it can denounce its austerity cutbacks.

And in the latter time of their kingdom, when the transgressors have reached their full measure...

[MeshugeMikey]

I HAD FORGOTTEN the bizarrely ostentatious COLOSSAL Obama Circus EVent

so much has gone on in the interim

how anyone could have missed what this puke is...is beyond me

[Still Thinking]

Mindless austerity? Mindless austerity???? Comparing government of the last few decades with drunken sailors insults drunken sailors. Cut current spending levels about 98% and THEN we can talk about how austere we are and how we can bring spending back to 10% levels or so.

[captmar-vell]

The image of the 2008 DNC stage does tend to remind me of the Temple of Pergamon,

That alter was Satan’s throne we’re told by none other than Jesus himself.

“I know thy works, and where thou dwellest, even where Satan’s seat is: and thou holdest fast my name, and hast not denied my faith, even in those days wherein Antipas was my faithful martyr, who was slain among you, where Satan dwelleth.” Revelation 2:13

[Ezekiel]

The image of the 2008 DNC stage does tend to remind me of the Temple of Pergamon,

That alter was Satan’s throne we’re told by none other than Jesus himself.

Good point. I visited the site about 25 years ago, and still have the guide book I bought there. Lots of interesting details - history, maps and diagrams.

The Obama "temple" is a modern neokoros.

3511 neokoros {neh-o-kor'-os}
from a form of 3485 and koreo (to sweep);; n m

AV - worshipper 1; 1

1) one who sweeps and cleans a temple
2) one who has charge of a temple, to keep and adorn it, a sacristan
3) the worshipper of a deity
3a) word appears from coins still extant, it was an honourary
title [temple-keeper or temple-warden] of certain cities,
esp. in Asia Minor, or in which some special worship of some
deity or even some deified human ruler had been established;
used of Ephesus

Besided the altar of Zeus, Pergamon was famed for its Askleipion:

Aesculapius the healing god (Tacitus, Ann. 3:63) was the prominent Pergamean idol (Martial); the Pergamenes on coins are called "the principal temple-care-takers (neokoroi) of Asia," and their ritual is made by Pausanias a standard. The grove of Aesculapius was recognized by the Roman senate under Tiberius as having right of sanctuary. The serpent (Satan's image) was sacred to him, charms and incantations were among medical agencies then, and Aesculapius was called "saviour." How appropriately the address to the Pergamos church says, "I know thy works, and where thou dwellest, even where Satan's seat (throne) is," etc.

And

Religions: There were beautiful temples to the four great gods Zeus, Dionysus, Athena and Asklepios. To the temple of the latter, invalids from all parts of Asia flocked, and there, while they were sleeping in the court, the god revealed to the priests and physicians by means of dreams the remedies which were necessary to heal their maladies. Thus opportunities of deception were numerous. There was a school of medicine in connection with the temple. Pergamos was chiefly a religious center of the province. A title which it bore was "Thrice Neokoros," meaning that in the city 3 temples had been built to the Roman emperors, in which the emperors were worshipped as gods.

http://www.pilgrimtours.com/greece/info/pergamum.htm

[captmar-vell]

Good information, thanks for the link,

How this evil administration operates, has all of the earmarks of demonic attendance,

[MeshugeMikey]

thats our barry!

[cyn]

Interesting - how the relationships fit like a puzzle. The senate...lol!

“Stay well” is even more meaningful these days!

Heh. “Nice health ya have there. Be a real shame if somethin’ happened to it.”

Take care...stay well!

[Pajamajan]

"The left makes crazy promises that it 9i keep, spends money it doesn't have, then waits until half way responsible government gets into office so they can denounce austerity"

BUMP