Consti coming to you from the accounting offices of Bunker, Bunker, and Finkelstien. Now I am not an economist but I play one on T.V. Thanks to some clarification from my accountant I’ve come to realize that the 5.7% growth in GDP is worthless. Yep that’s right, worthless. With a RECORD increase in the National debt by the Democratic Party (not one Republican voted for it) to $14.3 TRILLION each and every American owes approximately $45,000 in debt our government has incurred in our name. The savings proposed in the SOTU will only account for 1% of the deficit over the next year. You can’t claim savings when you are raising the amount of bad checks you can write by 5% over a decade.
Now the new budget proposal that is to be released Monday increases the fiscal deficit AGAIN ANOTHER RECORD $1.6 TRILLION.
“But Consti this was inherited from the Bush administration!” That’s a bunch of B.S. (Barbra Streisand). This administration and its friends in the Senate will have raised the debt limit higher than Bush I, Clinton, and Bush II combined. That’s including both the Iraq and Afghanistan overseas contingencies. (You can’t call them wars any more according to the White House.) In his budget, Obama will propose a three-year freeze on some domestic programs to save $20 billion next year and $250 billion over the coming decade. But that will not be enough to get deficits down permanently to the 3 percent of gross domestic product that most economists consider sustainable.
Now don’t get me wrong. I am for trimming useless programs from Government rolls. I don’t see why tax money should go to cranberry research or the mating habits of college co-eds. (A bottle of Tequila and a $5 bill I can tell you that.) However, trimming programs only to raise the limit at which you can borrow is not economically sound. It’s like throwing the dog a bone when you are eating steak and lobster. Or like Nancy Pelosi’s liquor bill for the Copenhagen summit.
Why are we mortgaging the future of our children? Why are we making future generations pay for our mistakes? Despite the smoke-and-mirrors of “pay as you go” history has shown that the deficit STILL increased. That’s a fact, not fiction. In the words of the Simpson’s Helen Lovejoy; “Won’t SOMEBODY PLEASE THINK OF THE CHILDREN!?”
The Republican’s don’t have to “paint” Obama and the Democrats as uncontrolled spenders. They are doing a good enough job themselves. The people of this country are tired of carrying the weight of the deficit on our backs. For the last year all we have heard about was Healthcare when we should have been hearing about Jobs and the economy. Barak Obama promised that the stimulus plan wouldn’t let unemployment go past 8%. We are now at 10.2% with no relief in sight.
Hope and change. Hope you can pay your bills with the change in your pocket.
Consti.
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