What’s Another Trillion?
Economic illiteracy is the defining trait of Left-wingers, both as voters and representatives.
Having denounced the philosophies of Adam Smith et al to be devastatingly “unfair” – which carries with it the implication of racism, just for good measure -, Barry and his cronies are fast-tracking us towards a free market oblivion.
Their strategy is simple – spend as much money as quickly as possible, in the knowledge that this will inevitably lead to tax increases, the heaviest burden of which will be enforced upon those in the middle and upper tax brackets. Thus does Barry get to implement both sides of his policy (the gain & the pain) through only one maneuver. Better yet, he could potentially delay the tax increases, leaving this measure to a subsequent – and perhaps opposition-led – administration. Wouldn’t that be a nice little time-bomb to leave for those dastardly conservatives?
So it will come as little surprise that Democrats are now demanding that the national debt limit be increased above $13 trillion.
At which point, the US will be insolvent. If it’s not a good idea for homeowners to owe more then their house is worth, how can it possibly be a good idea for a country to owe more than its economy is worth?
It isn’t.
Unless, of course, you’re a statist-socialist-Democrat and you desire for the government to usurp the role of the free market.
Barry has run up the largest (and quickest) budget deficit in history.
Barry is also bang on course to create the largest national debt in history.
And, to top it off, his is the largest national budget in history.
But it’s Bush’s fault.
October 22nd, 2009 at 12:29
This debt has been running ever higher for decades, with presidents and congresses of both parties contributing to the coming insolvency of this country. I agree with what you wrote about Obama, but you cannot honestly say that the Republican party is the answer. America was good while it lasted.
Arby´s last blog ..Where’s the Wreath? – Cemetery Edition
October 22nd, 2009 at 12:32
Arby – you can’t and I don’t. Both parties are equally complicit in getting us to where we are today. To my mind, there are no good options from here, although one of my favorite writers on economics does see some slivers of hope:
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100001459/dollar-hegemony-for-another-century/
We’ll see…
October 22nd, 2009 at 14:02
Excellent food for thought. Thank you for that link.
Arby´s last blog ..Where’s the Wreath? – Cemetery Edition
October 22nd, 2009 at 18:15
Largest deficits in human history, and what are we getting for it? NOTHING!!! At least with the other deficits we were getting a massive national defense, not to condone the massive spending, but as a country we were getting a return for our debt. Now we’re getting abosulutely nothing but future hyperinflation with this man.
October 22nd, 2009 at 18:42
Comon cons, it’s only paper. As Cheney and Wolfey the wit said, “RayGun proved, deficits don’t matter”
October 22nd, 2009 at 18:53
Thank you for the bit of humor you add to
“sour grapes”…I am enjoying checking out your blog!
October 22nd, 2009 at 19:02
Hey, Melisa, do I know you?
October 22nd, 2009 at 20:21
madmath – yep, the veneer of a return on the vast sums of taxpayer monies being disbursed, always thin at best, is now non-existent.
Melissa – welcome!
Ray – made me chuckle. At least you’re not denying the situation.
October 22nd, 2009 at 23:36
Can anyone say “debt trap”? It’s where you put a giant hole in the bottom of your boat when you have only a little bucket with which to bail.
Sonic Ninja Kitty´s last blog ..What Would You Do?
October 23rd, 2009 at 06:53
Don’t they teach math at Harvard? Obviously Obama flunked the class or he was too busy getting high.
WriterX´s last blog ..138. Snowe Job
October 23rd, 2009 at 11:54
It was called liberal (or new) math. Oh, he Ace’d it alright.