Unsustainable

Blogger Ace had a good post today about the President's out-of-control spending and huge government growth -- and the massive tax hikes that are inevitably going to follow. Only, most people don't fully realize this yet (and despite Governor Palin warning us last year) because the mainstream media are still carrying water for their favorite politician (who's "sort of God," according to one senior Newsweek editor over the weekend). Ace points out that most people operate under the general assumption that presidents don't change policy all that much -- Democrats move things a little to the left, Republicans a little to the right, but none of them will really affect our lives all that much. The policies of this president, however, are different in scope and scale. The policies he's enacting are going to seriously impact our lives for a long time to come, and not in good ways.

As the Dan Aykroyd character in Tommy Boy says, "What the general public doesn't know is what makes them the general public."

But it seems that the general public is finally getting savvy to the idea that these budgets aren't just large, aren't just "what Bush did too," and aren't merely "a little worse than Bush." They are entirely unprecedented, except for a brief period during the Second World War.

Here's the graph of what Obama's deficits over the next decade look like -- according to his own projections.

Even if Obama taxed that awful, evil "wealthiest 5%" at 100% of their income, it wouldn't come close to covering this. And remember, he's not done spending billions and trillions he doesn't have yet. We just got the new health care plan released this week. No one's read it all yet. It probably doesn't matter to the Congressional Democrats, because they didn't read the $750 billion "stimulus" bill either before they passed it. But you can be sure it will require a lot of money we don't have. Obama proposes taxing soft drinks, reducing charitable deductions, raising gas taxes, raising payroll taxes, and raising income taxes across the board, among other things. Nevermind that he promised he wouldn't raise taxes -- "not a single dime" -- on anyone making under $250,000 per year. It was never true.

By the way, speaking of the "stimulus," how's that working out? We absolutely, positively needed $750 billion passed by President's Day or else we'd have the worst recession since the Depression OMG!!! Unemployment would hit 8% without that stimulus!!!

Well, here we are in June. Maybe 5% of that stimulus money has been spent so far. And the unemployment rate, even with the stimulus, is spiking above what the White House claimed was the worst-case scenario.


Good thing the President is "sort of God," though. Whew. Otherwise, who knows how bad it would get?

Money for Nothing

Barack Obama was elected on a mandate of change in the November presidential election, and boy has he delivered! After his stern remarks last night in his manufactured press conference, the Democrats (and 3 Republican traitors) did their job this afternoon in passing the stimulus bill.

U.S. Senate Approves $838 Billion Stimulus Package

Feb. 10 (Bloomberg) -- The U.S. Senate approved an $838 billion economic stimulus package, clearing the way for negotiations with the House over a compromise plan that President Barack Obama wants lawmakers to send him within days.

The Senate today voted 61 to 37 to approve its measure. The bill provides $293 billion in tax cuts and more than $500 billion in new spending that the legislation’s supporters call critical to preventing the economy from sinking deeper into recession.

After the Senate added $838 billion (with interest!) to the national debt, President Obama's tax-evading treasury secretary Timothy Geithner did his part to destroy the confidence of the American financial system.

Geithner unveils new bank rescue plan

Creating a private-public partnership to take toxic assets off banks' balance sheets. Policymakers believe clearing bank balance sheets of badly deteriorated loans and securities is a prerequisite for restoring the normal flow of credit into the economy. Geithner said the plan will aim initially to use public financing to create as much as $500 billion in private sector buying capacity, with the prospect of an expansion to $1 trillion down the road.

The U.S. stock market processed both actions today with incredible swiftness:

[caption id="attachment_623" align="aligncenter" width="468" caption="-381.99 (4.62%)"][/caption]

This exchange from Arrested Development pretty much sums up today:

Board Member #3: Why should we believe in you?

G.O.B.: For the same reason you should believe a hundred dollar bill is no more than a hundred pennies!

G.O.B.: They approved me unanimously.

Michael: Why wouldn’t they? You’ve only lost them 99 dollars so far.