Monday, March 02, 2009
Pres Hysteria wants you to think that it's 1933......
The Obama budget is obscene.
The LA Times has a few concerns! (The president's blueprint is open about war costs and stimulus needs. But not everything adds up)
Mark Steyn calls him: The Six-Trillion-Dollar Man!
Here is the truth: You can't spend money like that without consequences.
What's going on?
Why all of the talk about Depression and how horrible everything is?
To be sure, we have problems and it will probably get worse before it gets any better.
However, does our recession need this kind of medicine?
This is a budget to change the country, from a free market approach to the economy to some European style economy.
What's wrong with that? Have you checked the French or German unemployment rates over the last years?
What's also wrong with Pres Obama's medicine?
It's un-American! I agree with Larry Kudlow: Obama Declares War on Investors, Entrepreneurs, Businesses, And More!
The NH Union Leader has a good editorial:
"The President believes that the current recession, which the Federal Reserve chairman estimated on Wednesday could be over by the end of the year, justifies trillions of dollars in new federal initiatives, financed by debt, to remake the economy.
He wants to borrow billions to impose on the rest of us his ideas about what energy sources we should use, how we should pay for health care, how credit markets should work and dozens of other subjects."
Sorry. I am not buying the medicine.
I agree with Dick Morris's It’s Obama spreading panic :
"Why does Obama preach gloom and doom?
Because he is so anxious to cram through every last spending bill, tax increase on the so-called rich, new government regulation, and expansion of healthcare entitlement that he must preserve the atmosphere of crisis as a political necessity.
Only by keeping us in a state of panic can he induce us to vote for trillion-dollar deficits and spending packages that send our national debt soaring."
P.S. Sit back, fasten your seat belts and read this post from Jennifer Rubin:
"1. The Administration’s projected budget deficit of $1.75 trillion is higher than the last five years of deficits combined, and under this plan, we will see three consecutive trillion dollar deficits between now and FY 2012.
2. While it was purported to cut the budget deficit in half – from $1.75 trillion in 2009 to $533 billion by 2013 – this budget projects higher deficits in 2014 ($570 billion), 2015 ($583 billion), and 2016 ($637 billion).
In 2019, the final year in the budget, the deficit is projected to be $712 billion.
3. Including the recently-enacted trillion-dollar “stimulus” spending bill, discretionary spending will soar by 24 percent this year under this budget.
4. The budget projects that the national debt will increase from $8.4 trillion in 2009 to $15.4 trillion in 2019.
5. The Administration’s budget contains $1.4 trillion in tax increases – tax hikes that will impact everyone, from small businesses, charities, and seniors to everyone who owns a 401(k) and anyone who flips on a light switch.
6. After promising that he will reduce taxes on 95 percent of Americans, the Administration’s budget establishes a $646 billion energy tax hike that will impact anyone who uses electricity, drives a car, or relies on energy in any way.
7. This budget forecasts more than $1.5 trillion in new health care spending, including a 10-year, $634 billion a health care “reserve fund.”
The budget also calls for seven percent annual growth in Medicare and more than six percent annual growth in Medicaid over the next 10 years.
8. The budget includes a $750 billion placeholder for a second round of spending under the Troubled Assets Relief Program (TARP), even though the first round of TARP spending is not yet finished, nor is there a clear explanation of how funds under the initial round was spent.
9. The Administration’s budget claims that reducing the number of troops in Iraq over the next 10 years will cut the deficit by $1.6 trillion; however, that is only because the budget allocates the same amount of funds for the Iraq war each year over the next decade, even though most combat troops may be withdrawn during the next 19 months.
The savings are, at best, deceptive.
10. The budget provides a scant 2.9 percent pay raise for military personnel as required by law, less than a week after Democrats in Congress provided the necessary funding to implement District of Columbia locality pay for overseas Foreign Service officers, which would constitute an 18 percent pay increase."
And he is going to do it all by taxing those who make more than $250,000!
Aren't you "lucky" that you make less than $250,000?