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The Boston Tea Party took place DECEMBER 16, 1773, just three years after the Boston Massacre, where the British fired into a crowd, killing five. The British passed unbearable taxes: 1764 Sugar Act -taxing sugar, coffee, wine; 1765 Stamp Act -taxing newspapers, contracts, letters, playing cards and all printed materials; 1767 Townshend Acts -taxing glass, p […]
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DON'T BELIEVE LYING LIBERALS!
LET ALL CONSERVATIVES PUT ASIDE THEIR DIFFERENCES AND BAND TOGETHER TO
STOP THIS TYRANNY IN D.C.!
Remember what Ben Franklin said:
"We must
hang together, gentlemen...else, we shall most assuredly hang
separately."
“Public affairs go on pretty much as usual: perpetual chicanery and rather more personal abuse than there used to be…” –John Adams
CULTURE
“Chicago politics is not about ideology. It is about, ‘Who Gets What, When, and How,’ to quote the inimitable Harold D. Laswell, one of the outstanding political theorists of the last century. The sine qua non of Chicago politics is power, getting it and keeping it. Everything else is incidental. Even corruption is a byproduct of power and is functional only if it enables you to stay in power. In Chicago politics, you don’t make waves, you don’t back losers, and you ‘don’t talk to nobody nobody sent.’ Chicago politics is always about hierarchy and centralization. … If you want to understand Obama’s health care policy, you need to start where Obama starts. You need to start with Chicago. You need to look at constituent interests. Obama won in 2008 because, among other things, he mobilized the electoral periphery. He mobilized young voters and minority voters, people who traditionally had a lower probability of showing up on Election Day. Chicago politics is about mobilizing the vote. —- Read the rest of this entry »
Our good friend Marlin got to speak at a recent Town Hall meeting held by Congressman Tom Perriello (D-VA) and the following is text of what Marlin said.
Why is there no tort reform in any of the House or Senate bills? This would be the easiest way to save about $200 billion dollars without changing anything. Doctors are forced to spend an enormous amount of money on mal-practice insurance due to the ever-growing number of frivolous lawsuits filed. The increase of cost to the doctor trickles down to the patient, which then increases the cost of medical insurance. It is a vicious unending cycle that tort reform could combat.
Howard Dean, former Democratic National Chairman, explained at a town hall meeting why tort reform was not part of the proposed health care reform bill. He said, “This is the answer from a doctor and a politician. Here’s why tort reform is not in the bill. When you go to pass a really enormous bill like that, the more stuff you put in it, the more enemies you make, right? And the reason that tort reform is not in the bill is because the people who wrote it did not want to take on the trial lawyers in addition to everyone else they were taking on. And that is the plain and simple truth.” For once he told the truth. In the proposed bills, doctors and hospitals are to take a $500 billion hit on Medicare, while the lawyers get a free pass.
The United States Constitution, that has served us so well for over 200 years, is 4,000 words long. So why does any bill in Congress have to be over 1,100 pages long? When I write a Letter to the Editor of the Roanoke Times, I cannot have more than 200 words. Why don’t they pass a law that no bill can be longer than the Constitution? Then maybe they would have to choose their words carefully and actually create legislation that we could read without having lawyers at our side to understand it.
There are over 250 web sites from individual law firms trolling for perceived victims of medical malpractice, with over 100 reasons to sue doctors or hospitals for everything from Mesothelioma to birth defects. If former Senator John Edwards is the poster boy for trial lawyers, he is also a testimonial to the need for limiting caps on medical malpractice. President Obama was booed by doctors in a speech to the AMA in Chicago on June 15 when he said he was not in favor of limiting outrageous jury awards against doctors or hospitals.
Lawyers are one of the only profession that Jesus publicly reproved. In Luke 11:46 He said, “Woe to you lawyers! For you load men with burdens hard to bear, and you yourselves do not touch the burdens with one of your fingers”. His words ring as true today as they did 2000 years ago.
A former governor of Wisconsin had it right, when he reportedly said “The only three things I want the federal government to do for me are – deliver the mail, keep any enemies out of my yard, and stay out of my life”.
“We cannot continue to relay only on our military in order to achieve the national security objectives that we’ve set. We’ve got to have a civilian national security force that’s just as powerful, just as strong, just as well funded.”
Barack Obama, July 2nd, 2008
We are well aware that there are many members of the Kool-Aid Brigade that follow this website.
We here at the Freedom Medium, as well as the non-brainwashed members of our audience, would like you current or potential members of Obama’s Army to clear something up for us.
It’s always a little concerning doing something like this, well, for me anyway. It means that I have publicly made a visible commitment to something. I have taken a stand. From that point, I then have to stand by that. The perception for me is that in so doing, there is the distinct possibility that it could actually be wrong, and where does that leave me?
So, for those 18 months now, I have been contributing regularly on this subject. I have a 25 year background in the electrical trade, both working in the trade, and also teaching the trade, so I was coming from a secure knowledge of that trade. What I wanted to base my posts on was the technical aspects behind that belief, and just what the consequences will be of blindly following something we are being told we must do for the sake of the environment we all live in.
The technical aspects are not easily comprehended, and my task was to actually try and explain it so that it could be understood by the average ‘man in the street’.
In the time since that first post, I have contributed more than 220 posts just tagged with same tag as that first one, and possibly a further hundred or more on related matters, as well as maybe a further hundred or more on other subjects, some of them also even related to those original subjects. As well as these, I have selected other posts (also probably more than hundreds) from our other contributors to our blog, some of them also relating to what I have been contributing.
With each post I make, I check the facts meticulously, because that is my nature. I won’t just talk from the top of my head just for the sake of saying something.
Early on, with each of those posts came further commitment, wondering if those facts were ‘perfectly’ true. As detailed as my knowledge of the trade was, I learned new things along the way, and with each new thing, I didn’t just rattle it off first, without checking from other sources to verify that information.
What a relaxing week it was in Martha’s Vineyard. Heck, not having to look at the sour pusses of Nancy Pelosi or Harry Reid for a week is a vacation in itself. Now if I could only dump Michelle for a few days! I’m back in the White House now, but later this week I’m headed off to Camp David in order to recuperate from all of this relaxation. Now that’s what I call a sweet deal.
But of course, as president, I’m always on duty. That’s the part about this job that I really don’t like, but don’t tell anyone I said so. I delivered a eulogy for Ted Kennedy, even though it pushed back my tee time, and I interrupted my faux news blackout to let the little people the American people know that I’m nominating Ben Bernanke for a second shot as Chairman of the Federal Reserve. He’s done such a crappy great job, I figured, why not prolong the agony let him keep doing great things for this nation? I figure he’s good for another manufactured crisis or two before all of this is over.
But what I’m really excited about these days, Diary, is this new Internet project I’m working on. I wanted to call it “I’m Taking Over the Internet Whether You Like It or Not,” but my advisors thought that was a little too revealing, so I went ahead with the suggestion to call it “Cybersecurity Responsibilities and Authority,” as a part of Senate bill 773 being ghostwritten by Sen. Jay Rockefeller and Sen. Olympia Snowe. (My pet name for him is Uncle Pennybags, and hers is Snow Job.) Read the rest of this entry »
Its impossible to turn on the television these days without being subjected to President Obama pitching one thing or another. In addition to the obsessive 24/7 media coverage of his dog, his wife and his latest sound bite, we also have our President appearing several times a day to lecture the American people on the virtues of being a good father and the virtues of volunteering. (Through a government agency, that is.)
Inquiring minds want to know: While Obama spends the majority of his time doing press conferences, town hall meetings and government service announcements, in between vacations and highly publicized jaunts to foreign countries, who’s actually running the store?
Who is writing the speeches that Obama is so skilled in delivering? Who is formulating the policy Obama is so masterfully promoting? Who is handling the war in Iraq and Afghanistan? Who is handling the economy? And when, exactly, does our President find the time to run the affairs of state when it appears the majority of his time is spent in front of cameras?
Glenn Beck of Fox News is the only journalist asking these questions. And the answers he is finding are alarming. All this week, Beck is investigating the unelected, unaccountable ‘czars’- the ultra-radical individuals Obama has placed in every segment of the federal government.
These czars have carte blanche to implement policy. They have the enforcement power of the federal government but none of the oversight or accountability. And, unreported by the old media, these ‘czars’ are pushing America down a path towards one world government and outright socialism. (Or fascism, since fascism includes a charismatic leader.) Read the rest of this entry »
Once again, a dose of reality is needed to properly assess the real effect that Barack Obama is having on America’s standing among the nations of the world. And as usual, the truth is far less glowing than the liberal media enclave would have us believe.
Americans are incessantly told that those other nations are currently much happier with it and feel less threatened by it under the headship of an avowed leftist like Obama. While such an appraisal is quite believable, it does not follow that this translates into an elevated respect from those nations. In fact, the historical truth is completely to the contrary. America and its leaders ignore this to the imminent peril of the nation.
When all of the platitudes of burgeoning “international good will” are stripped away, nations ultimately function as competitors. Few cases of genuine international altruism exist, and the overwhelming majority of international relations are pursued by each nation from the perspective of its own best interests.
A fiscally and diplomatically weak but sustainable America poses the least risk of exerting influence on other nations, and is thus much more appealing to them than when it is strong and purposeful. Under the Obama Administration, America has lost significant sway with the rest of the world, which is just fine with every foreign entity that seeks to gain dominance and power. As long as the United States, with its rampant consumerism, can continue to enable the world’s economic engine on terms dictated by the other nations, they can reap monetary benefits from it while ignoring and even deriding its values and interests.
However, this cycle cannot continue indefinitely. During every previous period in which the United States retreated into such a weak and vulnerable position, its enemies eventually recognized the moment as their opportunity to strike a blow against this nation. And that pattern is currently being repeated with disturbing predictability. Read the rest of this entry »
On Friday, we published an article pointing out our take on a report that originated at World Net Daily on how Organizing For America was now paying recruits.
On Saturday we presented a little history lesson on what some people feel is the predecessor to Obama’s Civilian Defense Force, along with showcasing how the President has his own “astroturf” organization.
Today, we will continue this series with a report of just how tragic the members of Organizing For America really are.
Either that, or they have totally lost touch with reality.
Today’s music video is ‘Blow Away’ from George Harrison.
This is the third in the series following the solo careers of The Beatles members and looks at George Harrison. He was the youngest of the Beatles, the quiet one who crafted such wonderful guitar work for the band.
He had a long and distinguished solo career, and has 18 albums credited to him, of which 11 were studio albums. His monster album was the triple album called ‘All Things Must Pass’, which came out in 1970. It was Number One virtually everywhere, and was a 6 Time Platinum album. It had the huge hit taken from it titled ‘My Sweet Lord’, the song that ended up causing him more trouble than it was worth, when, after a long drawn out Court battle, it was proved to be too close to the Chiffons song ‘He’s So Fine’ from 1963. Whether intentional, or unintentionally done, that is something that only George would know.
By the time you read this, President Barack Obama will already be bodysurfing in the Atlantic Ocean. His glistening, sculpted, Greek god body will be spending the week vacationing in a modest, 28-acre farm in Martha’s Vineyard. Naturally, the “farm” is lavishly appointed, and contains only the barest of necessities: oil heat, hot water, and a secure satellite videoconference hookup. Some people are questioning the timing of Obama’s getaway, but ruining the American economy is tiring work, and even The One needs to take the occasional holiday.
So, in a brilliant, yet futile, attempt to escape his plummeting poll numbers, the president and his family are retreating to Tax-achusetts. And what does the most powerful man in the world want more than anything? Privacy: Oh yeah, that’ll work:
Pleading for privacy, the White House said Obama would have no public events while vacationing on Martha’s Vineyard with his family and close friends. Aides also asked that the journalists not take pictures of the Obamas’ two young daughters, age 8 and 11, when they aren’t with the president.
“He wants you to relax and have a good time. Take some walks on the beaches. Nobody’s looking to make any news,” spokesman Bill Burton told reporters flying with the Obamas from Washington to Massachusetts.
Burton also added, “And while you’re at it, the president would really appreciate you keeping to script and not addressing the $7 trillion debt, the bankrupt Cash for Clunkers program, the abortion that is ObamaCare, and the president’s awful ‘Mom jeans’ choice at the MLB All-Star Game. Thanks much.” Read the rest of this entry »
This story just hit the Drudge Report’s front page. Declan McCullagh at CNET writes today about the latest revision of S.773, a bill that would give the president “emergency control” of the internet in case of a “cybersecurity emergency.” Wayne Crews, CEI Vice President for Policy, released a statement on the naming of the cybersecurity chief and wrote an article on this back in May. See an excerpt below:
Policy makers should avoid collectivizing and centralizing risk management, especially in frontier industries like information technology. Yes, we need government-backed “police forces” to protect private networks and infrastructure, but we also need the “barbed wire” and “door locks” which private companies continuously compete with each other to improve. When government overrules market competition for information/electronic security, it creates barriers to innovative private security solutions. We become less secure, not more.
Some reports indicate that the administration and Congress are seeking government authority over private networks-like power grids and computer networks-in the event of breaches. The very term “cyber” at once means everything and therefore nothing: American telecommunications, the power grid; virtually anything networked to some other computer is fair game to a new czar. The dominant tenor of the cybersecurity debate today is toward greater federal control over private infrastructure.
With less than 100 days to go until the UNFCCC Conference in Copenhagen, lobbying has become intense. I have posted numerous earlier pieces on what the intent of such a meeting might be. The nature of this UNFCCC body is such there are 192 Member Countries that will effectively decide on this important matter. What I would like you to consider is this. Of those 192 Countries, they are divided up into Developed Countries and Developing Countries. The Developed Countries have been directed by the UN to pay all the costs of implementation of any new accord, and what follows, for all the Developing Countries. Those Developed Countries also have to pay their own costs, and as they have the largest emissions, then those costs will be immense, and on top of that they have to also foot the bill for those Developing Countries. Of those 192 Countries in all, only 23 of them are categorised as Developed Countries. Now, you tell me how you think that vote is going to go on the floor of this meeting.
This morning we reported on a recently-leaked document from the G20 Climate Finance Experts Group detailing that while Congress has promised to give Waxman-Markey’s energy tax revenues to Americans, Obama administration negotiators are promising to give that very same money to the governments of China, India and a host of other countries.
But that is just the beginning of cap and trade’s duplicity exposed by the documents. Page 10 of the document shows that those working to give our income away know they can’t be straight forward:
“A second question is how to address funding sources that might not be included in a contributor’s up front commitment. In particular, carbon markets are likely to provide a large fraction of financing for some contributors yet may be difficult to pledge.”
Translation: “If taxpayers [contributors] know that cap and trade commits America to sending hundreds of billions of dollars per year to foreign governments for decades to come, they might not like it so much.”
(This is the first of two parts. If you enjoy this one, be sure to check back tomorrow, you will love part two. If you hate this one, be sure to check back tomorrow, you will really hate part two.)
Yesterday we reported on how Organizing For America, known to some of us as Obama’s Army, were hiring recruits at a very good rate of pay.
We also pointed out that members of what is possibly a forerunner of Obama’s Civilian Defense Force were being snuck into town hall health care meetings.
It seems as though we were a bit off the mark on that one.
They aren’t sneaking in, they are blatantly and openly campaigning for passage of Barack Obama’s health care reform bill!
Apparently the thugs from ACORN and the SEIU weren’t intimidating enough, so Obama had to call up the reserves.
So today we will show you proof of the actions of Obama’s Army, and some of their tactics.
How much more suffering does the Obama administration want to inflict upon American relatives of the Lockerbie bombing murder victims?
Watching Lockerbie terrorist Abdel Baset al-Megrahi walk free after serving a measly eight years of a life sentence was cruel enough. Next, Lockerbie families endured the despicable hero’s welcome party thrown for Megrahi by Libyan thug Moammar Gadhafi. Soon after came reports that Megrahi, released by Scotland for “compassionate reasons” due to terminal prostate cancer diagnosed by a lone anonymous doctor, may not actually have less than three months to live.
And now? Now, the Lockerbie families must prepare for the sight of Gadhafi jetting to New York City for a thug-of-the-month speech at the United Nations General Assembly in September — topped off by a planned jaunt to Englewood, N.J., where the murder-stained jihadi financier wants to pitch a swank, air-conditioned Bedouin tent to greet well-wishers.
The civil liberties crusaders who fret over America’s “inhumane” treatment of Gitmo detainees with smoke in their eyes have shown no compassion for the loved ones of Lockerbie murder victims getting kicked in the teeth.
New Jersey was home to 38 of our fellow Americans who lost their lives on Pan American Flight 103 in 1988. Fifty-nine of those murdered in the bomb attack called New York home. A total of 189 Americans perished over Lockerbie. And as we will soon commemorate two weeks from now, New York City, Shanksville, Pa., and Washington, D.C., witnessed 3,000 men, women and children slaughtered in the name of Allah firsthand. Read the rest of this entry »
On the surface, it just looks like another of those mega rich bleeding heart media moguls bleating about how tough things are for his media enterprise. However, sit back and think about it for a minute, and everything he says is absolutely correct.
What the younger Mr Murdoch of the huge News Corporation is complaining about is how the largest media corporation in the UK, the BBC, which is funded by the Government, seems to be immune from the same regulations that the Government imposes on all other media outlets, and while most private media enterprises are losing money in this current economic climate, the BBC has its funding guaranteed absolutely, and in fact has its funding increased by the Government
Admittedly, this story comes out of the UK, and it is specifically directed towards the enormous and all encompassing BBC, which is the National Media Network for News, TV, Radio, and Online News.
It may not really apply in the U.S. where, because of your great size, population, and diversity, you have many large networks that cover all those areas, so the need for a National Broadcaster may not seem particularly relevant, and if there was one, then those huge existing networks would literally swamp it completely.
However what I do want to do here, and with reference to this particular story is to point out the situation that exists here in Australia.
Here in Australia, we do have a very strong National Broadcaster, and because it has been around for so long, they have the distinct advantage of establishment.
Our National Broadcaster is called the Australian Broadcasting Corporation, the ABC.
Now, don’t confuse it with the American network also called the ABC, because the one here in Australia has absolutely no link to the ABC in the U.S. In point of actual fact, the Australian ABC has been in existence longer then the U.S. ABC network, which started in 1943.
“Beloved Cherokees,” wrote President Washington on AUGUST 29, 1796, “The wise men of the United States meet once a year, to consider what will be for the good of their people…I have thought that a meeting of your wise men…would be alike useful to you…I now send my best wishes to the Cherokees and pray the Great Spirit to preserve them.”
On May 12, 1779, Washington addressed the Delaware Indian Chiefs at the Middle Brook military encampment: “Brothers: I am glad you have brought three of the Children of your principal Chiefs to be educated with us…Congress…will look upon them as their own Children.”
Washington continued: “This is a great mark of your confidence and of your desire to preserve the friendship between the Two Nations…and to become One people with your Brethren of the United States…You do well to wish to learn our arts and ways of life, and above all, the religion of Jesus Christ. These will make you a greater and happier people than you are.”
Washington concluded: “Congress will do everything they can to assist you in this wise intention; and to tie the knot of friendship and union so fast, that nothing shall ever be able to loose it…I pray God He may make your Nation wise and strong.”
Henry Waxman, Ed Markey, and the puppet master in front.
TonyfromOz prefaces …..
The image is a classic. For more background, take this link.
If you want to know what cap and trade will to do our economy, we’re living it. According to new data released from the Energy Information Administrations, United States carbon dioxide emissions are down 9% since 2007. The calculation compares the emissions of coal, petroleum and natural gas in the first five months to the emissions of the first five months in 2009.
The current recession means people are driving less, people are flying less, and companies are pumping out less carbon dioxide because people are simply buying less. The trade off for reduced carbon dioxide emissions is reduced economic activity – or an economy operating well under its potential. In fact, The Heritage Foundation analysis of the Waxman-Markey cap and trade bill reduce economic activity by $9.4 trillion inflation adjusted dollars for the years 2012-2035, the years for which Heritage modeled the bill. What’s worse, the trade off for all this economic pain is very little environmental gain, as climatologists predict the bill will have negligible effects on global temperature.
Waxman-Markey will deepen and prolong future recessions and weaken future recoveries. The goal of cap and trade is to drive up energy prices so high people will use less energy, but even after reduced consumption, people still need to drive their cars and turn on their lights at home. All cap and trade does is force people to spend more on their energy bills. These higher energy prices result in a slower economy, which means less production, higher unemployment, and reduced income.
Contributing Author Nick Loris writes at The Heritage Foundation and he is a Research Assistant at The Heritage Foundation’s Roe Institute for Economic Policy Studies.
“To say that the United States should be answerable for twenty-five millions of dollars without knowing whether the ways and means can be provided, and without knowing whether those who are to succeed us will think with us on the subject, would be rash and unjustifiable. Sir, in my opinion, it would be hazarding the public faith in a manner contrary to every idea of prudence.” –James Madison
GOVERNMENT & POLITICS
So This Is Hope ‘n’ Change?
Obama's plan for America: Debt, debt and more debt.
In May, when the federal deficit was projected to be $7 trillion over the next decade, President Barack Obama was asked, “At what point do we run out of money?” His reply was actually rather candid: “Well, we are out of money now,” he said. Last Friday, the administration adjusted its deficit projection — upwards, of course. The White House now says the number will reach $9 trillion, including $1.6 trillion this year and $1.5 trillion next year. So much for The One’s promise to end the years of “borrow and spend” budgeting.
The Congressional Budget Office simultaneously projected a deficit of $7 trillion over the next decade, a lower number because the CBO considers only current law, not White House proposals. The Wall Street Journal reports that “these deficit estimates are driven entirely by more domestic spending and already assume huge new tax increases. CBO predicts that debt held by the public as a share of GDP, which was 40.8% in 2008, will rise to 67.8% in 2019 — and then keep climbing after that. CBO says this is ‘unsustainable,’ but even this forecast may be optimistic.” —- Read the rest of this entry »
We have done numerous articles outlining the activities of Organizing For America, an offshoot of the Democratic National Committee, OFA is also known as Obama’s Army.
On the surface, Organizing For America seems like a benign enough group, but once you do a little research you can’t help but question their agenda.
As a continuance of the campaign group Organizing for Obama, OFA members have been touring the country seeking to enlist support for President Obama’s policies.
For months they have been standing outside of shopping malls and conducting door-to-door campaigns asking people to sign pledge cards in support of the President’s policies.
And when we first learned of this, it struck us as a bit odd that a sitting President was looking for signature cards showing support for his ideas.
Apparently, we aren’t the only ones who feel that way.
Norm Sterzenbach, executive director of the Iowa Democratic Party, had this to say: “Iowa has almost nonstop Presidential activity. But the idea of a sitting President continuing an organization is fairly unusual.”
On August 22, Muslims in America began honoring our holy month of Ramadan — a month of fasting, prayer and a renewed religious focus. It is a month of introspection, where Muslims around the world focus on the truly important elements of their lives; renewal of faith, family and strengthening one’s relationship with God.
Many Americans are unaware of the significance of Ramadan for Muslims, both locally and abroad. It is celebrated in the ninth month of the lunar calendar during which Muslims believe the Prophet Muhammad received the scripture of the Quran. From sun-up to sun-down we will fast from all food and drink in order to obey what we Muslims believe is God’s commandment in the Quran to fast (2:185). It is a deeply challenging but spiritually rewarding month.
The fast is a symbolic equalizer for all Muslims from every part of humanity. From the very rich to the very poor, the fortunate or the less fortunate, during this month every Muslim finds common goodness in the challenge and rewards of the daily fast. The hunger and thirst is a remembrance of the cornerstone of free will and discipline in faith as much as it is a sign of health. It is a reminder of thanks for our health and a test for Muslims to see and feel the plight of those less fortunate. In hunger and in thirst, we are all equal. It is an equality that not only crosses social boundaries, but religious, political and geographical as well. It is a reminder of our shared humanity with every individual around the world.
In that equality, Ramadan bears significance beyond its spirituality for Muslims. Every year it reminds me of my love of personal liberty and free will from Islamist coercion. A respect for universal equality is a central community value vital to ultimately defeating the theocrats of political Islam. Muslims need an Islam whose laws stay out of government, and instead teach the equality of all humanity regardless of faith practice.
The spirit of Ramadan is a true example of how Islam can flourish under the separation of mosque and state.
So This Is Hope ‘n’ Change?
Posted by papundits on 08/28/2009
The Patriot Post – Fri Digest – August 21, 2009
THE FOUNDATION
“To say that the United States should be answerable for twenty-five millions of dollars without knowing whether the ways and means can be provided, and without knowing whether those who are to succeed us will think with us on the subject, would be rash and unjustifiable. Sir, in my opinion, it would be hazarding the public faith in a manner contrary to every idea of prudence.” –James Madison
GOVERNMENT & POLITICS
So This Is Hope ‘n’ Change?
Obama's plan for America: Debt, debt and more debt.
In May, when the federal deficit was projected to be $7 trillion over the next decade, President Barack Obama was asked, “At what point do we run out of money?” His reply was actually rather candid: “Well, we are out of money now,” he said. Last Friday, the administration adjusted its deficit projection — upwards, of course. The White House now says the number will reach $9 trillion, including $1.6 trillion this year and $1.5 trillion next year. So much for The One’s promise to end the years of “borrow and spend” budgeting.
The Congressional Budget Office simultaneously projected a deficit of $7 trillion over the next decade, a lower number because the CBO considers only current law, not White House proposals. The Wall Street Journal reports that “these deficit estimates are driven entirely by more domestic spending and already assume huge new tax increases. CBO predicts that debt held by the public as a share of GDP, which was 40.8% in 2008, will rise to 67.8% in 2019 — and then keep climbing after that. CBO says this is ‘unsustainable,’ but even this forecast may be optimistic.” —- Read the rest of this entry »
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