Debt We Can Believe In!
By Chris on Feb 26, 2009
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The deficit chart currently shown today at drudgereport.com is what I've been screaming about now for the last few weeks. The 1.75T deficit is a conservative figure though I think -- Either way, at 2T they've done as much damage to our debt within SIX WEEKS as the Bush administration did in oh, about five years!
Continued...
Not only that, but if you look real close, you'll see that the trend during the Bush years was getting better, well, you know, shortly after that whole crazy-Muslims-flying-airplanes-into-buildings 'thing'. And if you look a little closer at that chart, you'll see there was a surplus during the Clinton years. Don't mind that, it's bogus accounting, as a result of Gingrich/Clinton borrowing from social security -- the real number (to the best of my knowledge) is around -200B before Bush took office. Yes, both republicans and democrats are guilty of that one, sorry folks!
In the same spirit that liberal comedians used to calculate how many years they could send Quayle back to the University of Indiana, I thought you might be interested in knowing that we could have used that two trillion dollars more efficiently by sending Pres. Obama back to Harvard Law School for ~38.4 million years, including room & board. Just imagine the plethora of platitudes and clichés he could add to his arsenal of rhetoric in 38 million years!
Or, what the hell, lets just spend another 700B dollars and we could have excused all income tax, social security tax, corporate income tax, excise tax, customs duties, and death taxes for an entire year. The biggest downside to that being that we wouldn't reap the benefits of spending millions of dollars determining why pigs smell or saving Pelosi's salt marsh mouse. Can you imagine how much this country would grow without ANY taxes for just one year?
Instead, we're using that money to grow our oh-so-efficient government. We're going to invest in socialized medicine when we can't even sustain social security and medicare. We're going to suffocate business by placing restrictions on the most viable forms of energy. We'll also invest heavily in our unions; you know, those guys that make 200k/yr right out of high school (including benefits) to make our crappy over-priced American cars. And to top it off, we're going to go ahead and raise taxes on the rich. If you think by 'rich' they're referring to Bill Gates and Warren Buffett, think again -- by 'rich' they're referring to all of the businesses that you buy your products from, like Walmart, Target, and Amazon. But it gets even better! Yes, we're also going to hand out billions of dollars to people who can't afford their mortgage payments being made to companies who were forced to give out bad loans while at the same time we're handing out billions of dollars to the same companies to keep them from failing! Hurray!
So, while our big companies are laying off workers left and right now, they'll soon be forced to lay off additional workers and/or raise their prices to accommodate their tax hikes and make the Goracle happy. (that's Al Gore for those of you not in the know). In the meantime, all of this debt accumulating interest will eventually make it's way back into the economy by way of the US Mint and the B.E.P.. When that happens, we'll all get to enjoy inflation -- a devalued dollar. Just imagine high prices, high unemployment, worthless money, and higher taxes. Hold on now, it gets even better, because you see, when people are out of work, and the government has stymied business through taxes, unions, and additional regulations, tax revenue will decrease! When that happens, our 10+ Trillion dollar debt will seem insurmountable -- laughable really. Oh, by the way, if we follow the California trend, our government will likely increase taxes even more when they see that tax revenue goes down. 70% tax brackets, anyone?
We're not in a depression folks, but one could certainly argue that our government is leading us down that path. To quote a friend, when your lunch consists of hot water and a bouillon cube, then you can call it a depression.
Folks, that is CHANGE WE CAN BELIEVE IN! YES, WE CAN!!!
If you want to live in a place where the air is clean, people our poor and common sense dictates the reason that pigs smell, I suggest moving to Kenya.
It is my opinion that our best course of action is to produce our way out of this recession, and convince enough people around us to elect fiscal conservatives (read: not necessarily republicans) back to office. The government is not going to fix this and conservatives have virtually no voice for another two years -- the American people are going to get us out of this recession and I have faith that the American people can even get us out of this quagmire being constructed by the new administration and congress.
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