He proposes a $4 trillion budget for one year, proposes taxes that raise $1.5 trillion over the next 10 years and thinks this is not only a good thing, but will "not accept" anything that doesn't do what he wants. If you're a new reader, let me say I'm always extremely skeptical of numbers stated like that. There's simply no way to know what "$1.5 Trillion over 10 years" really means. How much per year? How much economic growth is expected? It's virtually guaranteed to be a static estimate, meaning it will be wrong as soon as the people being taxed change their behavior even slightly to avoid the taxes. Probably as soon as the bill passes. As for expecting to know precisely how much money goes to the treasury in 10 years, just go look up the 2004 budgets and tell me how accurately they predicted last year.
If he can't see how his own policies are hurting the groups he says he's trying to help, he's hopelessly deluded. What else can you expect from Alinsky-ite community dis-organizer?
Let me explain it another way. The debt is now $18+ trillion. The sum total of all currency on the planet is slightly under $60 trillion. At the rate our debt increases, it will exceed all the planet's wealth in the near future. nuff said!
ReplyDeleteIt is even simpler then that. Our debt is $18 trillion plus. We will not and cannot ever pay it off. Secondly our budget is always in debt and has been for years. We will not (but could) stop borrowing and spending. Third; the debt payment on $18 trillion at a mere 5% is $900 billion. At 8% it is $1.44 trillion. As soon as things return to "normal" and interest rates rise again it will be impossible to make the payments on this debt that we don't intend to ever pay off and we will be in default. Juat imagine that if we cannot even stop borrowing how will we even survive when we cannot borrow AND the economy turns upside down because we are bankrupt. That would mean runaway inflation, and/or great depression. It is hanging over our head and like a drug addict we are hooked on borrowing and cannot even balance the budget. This is a triple threat hanging over us and there is no rational logical way out. It is simply a matter of time; days, weeks, months, years, no way to know. But when it all goes South it will go catawampus really fast.
ReplyDeleteMy fear is that, instead of ignoring this egotistical bast*rds budget like last time (was that six years ago?), Boehner and the rest of the Democrats will pass it, as they did with Cramnibus.
ReplyDeleteHow long has it been since any form of reality has intruded upon the "minds" of those elected to represent our wishes and our needs?
Make no mistake, they will pass it or one substantially the same. The reason is simply that congressmen get elected by people in their district that benefit from the pork that they bring home. Why cut the budget? They would prefer to funnel money into their state and you cannot do that with a smaller budget. Besides there is an unwritten rule that if you as a congressman actively try to expose the fraud and cut the budget every other congressman will vote against money going to your state. This is a vicious cycle that will ony be stopped by an economic collapse. Even then watch and see if your congressman doesn't propose "spending" as the solution to the new crisis. We are doomed. It takes a working stiff 262 calendar days before all his taxes (federal, state and local) are paid. after that the rest of his pay goes to his own expenses. Compare that with the voters who have voted themselves "free stuff"; on Jan 1st they get a check and benefits and NEVER pay taxes (except in most states, sales taxes). You are being screwed.
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