The Generational Theft Act of 2009
My syndicated column today takes on Obama’s stimulus Trojan Horse. It’s for the children. Mitch McConnell, are you there?
And just in: 2009 budget deficit is estimated at $1.2 trillion.
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The Generational Theft Act of 2009
by Michelle Malkin
Creators Syndicate
Copyright 2009
Barack Obama has dubbed his behemoth fiscal stimulus proposal the “American Economic Recovery and Reinvestment Act.” But if truth in advertising were required of White House plans, only one title would fit the trillion-dollar-plus-and-growing bill: The Generational Theft Act of 2009.
President-elect Obama was at his most candid when he told the country Tuesday that we face massive deficits for the foreseeable future. “Potentially we’ve got trillion-dollar deficits for years to come,” he said, “even with the economic recovery that we are working on.” But one word is glaringly out of place in that warning. It’s the word “even.” Washington will saddle future generations with unprecedented debt because of the economic recovery interventions Obama is planning, not despite them.
Think this through. We are now thirteen months into the current recession. Since World War II, none of the recessions that have hit the U.S. economy have lasted more than two years. Most have lasted 12 months. The new mega-injections of government “investments” championed by Obama are intended to “break the momentum” of a recession we’re probably more than half-way through suffering.
This is not to suggest that the economic picture is all sunshine and roses. Quite the opposite. Our fundamental ill is too much spending and borrowing and too little saving. It’s going to take years to recover from the housing mess. Washington continues to encourage ever more ill-considered lending in a misguided attempt to stave off needed market corrections. The currently proposed combination of a nationwide infrastructure spending orgy plus tax-cut bribes does nothing to remedy that.
To paraphrase a previous Democrat administration: It’s the timing, stupid. Keep in mind that the Democrats’ stimulus timetable pushed through the House last fall proposed $34 billion in new, “ready to go” infrastructure spending — only $9.8 billion (30 percent) of which could be spent in 2009. As writer Brian Faughnan points out:
“While it’s unclear so far exactly how much infrastructure spending will be included in Obama’s stimulus package, it will clearly run into the hundreds of billions. As Democrats broaden their definition of projects that are ‘ready to go,’ they will by definition slow the rate at which funds are spent. When President Obama signs his stimulus bill into law, it will already be 5 months further into the recession than when [the Congressional Budget Office] reported on the last Democratic bill — and thus 5 months along toward being wasteful and counterproductive spending. He will also be signing a much larger bill, with a much smaller percentage of ‘front-loaded’ spending.”
Moreover, despite Obama’s earnest-seeming pledge to block all earmarks, there will be an inevitable lard-up of the stimulus. When has there not? Republican Senate Minority Leader Mitch McConnell signaled openness to the plan over the weekend as long as the GOP gets nominal input and kabuki hearings. The lard-up will guarantee that future capital is diverted to superfluous pork projects (“green jobs”) and away from productive private enterprise. Instead of basic roads and bridges, infrastructure spending will go to bloated unions overseeing pie-in-the-sky construction projects like the $30 billion-plus high-speed rail line from Los Angeles to San Francisco, which California officials fully expect to be funded.
Bottom line: Obama’s prescription for economic pain will at most be useless in encouraging short-term growth, while ensuring anemic longer-term growth for the next decade (and beyond) at the expense of Obama’s kids and my kids and yours.
The truly bold thing for Obama to do would be to tell the panic-mongers and boondoggle-seekers to shove it and to tell taxpayers to ride out the rest of the tough times while he got Washington’s own economic house in order.
Instead, it’s more of the same old, same old mortgaging of our children’s future for the sake of present political crisis management.
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Not really, we will hit bankruptcy WWWAAAYYYY before we have “years” of trillion dollar deficts.
I get it – it’s the AERRA as in error (as said in New England)
So screwed.
Ehhh…I don’t have any kids, so I say SPEND BABY SPEND! HOOK ME UP!
1/20/09 beginning of an error.
Because bankruptcy is the new “pink”. Its fashionable.
How can so many people be so ignorant of 1) history and 2) basic economics. What planet do we live on?
Wait til the fake global warming cap and trade hits.
The barely disguised carbon tax, which the libs see as a ticket for huge new revenues, will actually slow the economy so badly business and income taxes will plummet, and the deficits will really go crazy.
I think Obama is talking an 80% reduction in carbon dioxide emissions by 2050, and with libs in mortal fear of nuclear power, a coast to coast network of wind farms and solar cells won’t come close to making up the 80% reduction in fossil fuel use, which means just under an 80% decline in our GDP by then.
Since bovines are flatulent and tractors burn diesel, we’ll all be living on communes taking turns pulling the plows through our fields, and only the
Politburoer, Congress and other top Dems will be allowed to own or ride in automobiles.1930s Stalinist Russia, here we come!
Hmmm, so this is what “Hope and Change” looks like.
We’re so Screwed!!
Great article again Michelle. I’d say the next 4 years are only going to give you more than enough material to comment on.
No earmarks? This bill is one huge earmark package. Bike trails, swimming pools, and anything else that anyone wants will be in this bill.
It’s a foolish plan to fix something they broke by continuing to break it.
Chaps points out something, whether intentionally or not, in his attempt at humor.
Another reason why atheism or fuzzy spirituality is so common with Dems.
If there is no God, and everything ends when you die, why should you care about anything after you die, especially if you decide having children would be too big a burden on your lifestyle.
“Moreover, despite Obama’s earnest-seeming pledge to block all earmarks”
no earmarks needed when the pox is in charge of the whorehouse!!
Maybe not, see the fairness doctrine.
As much as I would love to believe this, I don’t. I remember the denial a year ago that we were in a recession (because the government numbers did not say so). We were and we have in my opinion a long, long, long way to go to get out of it. I don’t think anything Obama does in the next 4 years will get us out of it.
Also remember that the END of a recession just marks when the economy quits getting worse. It may take decades to get back to where we were.
The US has been running a giant Ponzi scheme. Eventually it runs out of new investors and defaults. It could happen in 2009 or 2010. At that point we all go bankrupt.
I argued against generational theft when I was in college in the late 60′s. I considered Social Security, Public Education and Medicare generational theft. It did not just start with Obama. It is Keynsian, in which the final generation pays for ALL previous generations. Maybe we are now that final generation.
I’ve looked through Harry Reid’s wishlist and have seen that, in addition to mortgaging our future, the Democrats want to implement a lot of programs that have failed wherever they have been tried:
S.1 — American Recovery and Reinvestment Act of 2009: Hundreds of billions in infrastructure spending like the kind that failed to end the Japanese recession of the 1990′s coupled with hundreds of billions more in welfare and education spending that contributes nothing to the economy.
S.3 — Homeowner Protection and Wall Street Accountability Act of 2009: The Democrats propose to tighten mortgage requirements to the point where a government program will be necessary to qualify people for mortgages.
S.4 — Comprehensive Health Reform Act of 2009. Socialized health care that fails in Britain and Canada and that Wisconsin and California rejected when they saw the bill.
S.5 — Cleaner, Greener, and Smarter Act of 2009: A cap and trade scheme of the kind that results in industries locating to countries without cap and trade schemes and higher energy prices for the rest of us.
S.6. — Restoring America’s Power Act of 2009: i.e. A return to Carter Era foreign policy.
S.7 — Education Opportunity Act of 2009: More subsidies for teachers unions while our public schools continue to fail.
S.9 — Stronger Economy, Stronger Borders Act of 2009: Amnesty III.
S.10 — Fiscal Responsibility Act of 2009: Despite trillions in pork barrel deficit spending, the Democrats pledge fiscal responsibility.
1 year, maybe 2 and we will be bankrupt. This is why I will be building a greenhouse this summer and paying off every debt I can.
That would explain an awful lot about the policies of the godless left.
Drudge has something on Obummer’s economic brain trust. A picture of Time Warner with a caption on how they are in the red, with a link to Obummer’s choice of the Time Warner CEO as commerce Sec. That should work well.
Yep.
As always, the socialists are trying to put out the fire(s) they started by pouring on yet more gasoline.
My lack of children has nothing to do with my atheism and everything to do with my love of sleep.
I think that’s also why Europe doesn’t care much about it’s impending Islamization. For the most part, Europe hasn’t bothered to produce a future generation, so they really have not much stake in what conditions the next generation is living under.
We agree. I paid off my debts and sold all my stocks, luckily, two years ago. My only good investment has been gold and silver. We bought a house in central oregon, and we are just working while we can to save what we can before we move into it.
Think about this people, we know have 11 trillion in debt. Obama just promised 1 trillion more, NOT COUNTING the hundreds of billions in the normal budget. How do we pay for that? We can’t. We are just paying intrest on the loans and are almost to the point of borrowing to pay the intrest.This recession count have been a bad painfull one verging on a depression. Spending like this ensures national bankruptcy and a new great depression before we go to the polls again.
Why do you think I am eyeing New Zealand again? This generation can’t handle a depression. They don’t have the disapline. There will be blood spilt. The kids will demand a lifestyle like they saw thier perants have. And because they haven’t learned history, they will not know that they can’t demand or take it without destroying it. Once obamas plan fail, there will be blood. I only hope we can contain it.
There is certain irony in this. In Susanville Ca., a WPA indoor swimming pool was condemned because the roof beams had rotted out from rain leaking through the roof. The buildings level of care was inadequate because the local population wouldn’t pay what it costs to take care of the structure.
I wouldn’t be surprised to see a new gubberment pool get built on the US taxpayers dime here….again.
The infrastructure problem America faces is enormous. Taxpayers have built way more than they can afford to take care of adequately. The only ways to fix this is a) Tax More! or b) Tear stuff down and do less.
Please don’t suggest that eliminating waste is an answer. Government IS waste.
Come on, don’t you people know it is ALL Bush’s fault? Everything that ever went wrong on this planet from the beginning of time is his fault too. But you just wait. Bambi is going to heal the world & fix everything. Have you no faith? What’s another trillion or two when Bush already got us into the frist trillion in debt.
sarc/off
I’ve finally figured it out:
Congress has become a wholly-owned subsidiary of al-Qaeda.
When you’re bent on the destruction of a once-free people, no bombs or airplanes are required. Rather, all that’s needed is an Idiot Electorate, Big Guvmint, and Big Media.
And al-Qaeda now controls the last two of those three, for a “winning” majority.
Yep.
Another reason why atheism or fuzzy spirituality is so common with
Demssocialists.There – fixed it.
Yep.
That would explain an awful lot about the policies of the godless, immature, irresponsible, selfish, living-only-in-the-present-tense left.
Hope you don’t mind the add-ons.
As I’ve repeatedly said, (and been mocked by the socialist clowns precisely because I’m dead-on accurate), socialists have a diametrically opposite, irreconcilably different worldview.
What was it 20 years ago? It was “The Community Reinvestment Act” that led to the greatest theft of private property in the history of mankind – via the subprime conspiracy – all courtesy of Jimmy Carter, Bill Clinton, and Congressional Democrats. Memo to Democrats: If you want a civil war, this is a great way to get one.
Chalk me up as in agreement with Mister P, Sonofdy and others who feel we are nowhere near the bottom economically.
By any normal method of accounting we are already bankrupt as a nation. Our funded and unfunded debts are already way beyond our ability to pay. And Obama and the libs want to add trillions to this debt every year for the foreseeable future?!?!?! Where do we get the money? Borrow it? At some point our foreign enablers will stop lending us money. Print it? Can you say hyperinflation?
Government has caused this dilemma, aided and abetted by a willing populace. I see no good outcome. At best, if adults with common sense took over you are talking decades to unravel this mess. And THAT is the best case.
Chap – …and yourself. It’s not a putdown. I never wanted children either, but somehing changed in my thirties when I met my husband (the first and only, married twenty years now). I have learned a lot about myself and human relationships raising our chldren. Being a mom has made me more conservative as well. (Just try explaining why “we dont watch that show” to your kids.)
I also don’t think chaps was kidding when he said (paraphrasing) “Screw future generations! Gimme Gimme Gimme!”
Well said. al-Qaeda and Communism have no better ally in their war on America than the Federal Government of the United States. The Feds could not do better unless maybe they unleash nuclear weapons on their own people. That would be a topper. Insane.
The Lard-Up won’t really do all that well in infrastructure improvements either. Eisenhower’s Federal-Aid Highway Act of 1956 was a grand idea-the best roads and bridges we could build from coast to coast, the money would be generated through new taxes on fuel, automobiles, trucks and tires. Almost as soon as the act was passed Fedzilla began dipping into the fund for other projects and using highway funds to force states to enact Politically Correct Policy on unrelated issues.
We now have a completed National Highway system that is not as well built as it should have been and does not have the cash to do needed repairs.
The same can and is said about aid to public education, Community Redevelopment and THOUSANDS of Fedzilla spending projects.
These fools in congress, Republicans all to often included, spend now trillions with little thought on the end results. We leave our children and their children a huge burden but will we leave them a country?
By the way, the Wall Street Journal has an article today that is entitled “Fed Outlook Darkens On The Economy”. Gee. what a surprise.
Is there any reflective thought present in the Federal Government? If they do not get off the premise that all business is centered around re-election and gaining/maintaining power all they are going to inherit is a graveyard.
It is a mindset that borders on derangement.
It’s curious Obama has created a new position of “chief performance officer” which will “help put us on a path to fiscal discipline”, a Democratic official said, while at the same time planning trillion dollar deficits for as long as the eye can see. Spending more and more is now associated with fiscal discipline. Can you say Orwellian doublespeak?
BINGO!!!!
It is good Chap you are not dyslexic.
SO 1 trillion becomes 1.2 trillion. Where is this money coming from? Congress, YOU CAN NOT BORROW YOUR WAY OUT OF DEBT!!!! These idiots shouldn’t be allowed a check book let alone control of the us economy.
I wish you well, but I think New Zealand will not take kindly to illegal aliens
I have had a bad feeling for a few years that the President after Bush would be our last president. We are entering an unfamiliar place far worse than the Great Depression. We did not carry huge debts in the GD. We did not have nuclear warheads and we did not worry about terrorism.
But chaos has its own way of sorting things out. We will reform under a new structure, and we have no idea what it will look like. But in the mean time, I think the US will be the most dangerous country in the world. We will have 80 percent of all the military power and no money.
I was born there. My children will be dual citizens.
Especially fair weather (or at least weather-is-slightly-less-bad-over-here) former New Zealanders.
I also believe that we will see a lot more “innovative” taxes and fees that will seep into everyday life (local, state and federal). We will see small, seemingly inconsequential additions to the tax burden (1 cent for every mile you drive over 12,000 miles to help save the planet — $15 stormwater “fee” to pay for drainage — 10 cent plastic bag “fee” at the grocery store for recycling– $10/child after 2 kids to help schools), etc. Once they are established, they will never go away and will simply increase over time.
So they can never be president, per Red Pill.
Well as native born americans they could be. In the case of civil war I would relocate my family to New Zealand and come back to fight. In that situation and given the chance every single person here would secure thier families in another country if they could.
Unfortunately I was born in Chicago.
As long as Obama emphases M1 money – money in circulation that can delude us into thinking we’re prospering when we actually aren’t, over M3 – money that creates jobs and real economic growth, and, subsequently, M2 money – money we save, then there can be no real economic growth.
Like the quote above implicates, we’ll be in servitude to China, Europe, and SE Asia for generations to come if this massive spending keeps up.
This couldn’t be more clear: the Democrats intend to spend to their hearts desire, whether we’re in recovery or not, and there’s not a thing can be done about until the 2010 elections.
The current economic “plans” remind me of a crazy 16 year old who gets hold of his parent’s credit card. He is buying a new Corvette for his girlfriend, and is signing up for an around the world cruise with her–all at his unaware parent’s expense!
***
We are the parents–and the bill is coming soon. However, if the weak CIA and military policies result in a nuclear attack on our cities it won’t matter much. Ditto for the “no energy” energy policies and its future costs to our economy. Ditto for the coming ILLEGAL ALIEN amnesty.
***
Hope and Change my A**!
***
Rocketman
***
On January 7th, 2009 at 10:40 am, DBNinKY said:
…the
Democratssocialists intend to spend to their hearts desire, whether we’re in recovery or not, and there’s not a thing can be done about until the 2010 elections.Good post.
Agreed.
But please, use the correct term.
I still remember the saying, “those who do not remember history, are doomed to repeat it”… Known fact, if HOOVER and ROOSEVELT would have stayed out of the way the GREAT DEPRESSION would have lasted 2 years at most… Now we have both BUSH and soon OBAMA kick starting the economy, so instead of 12-18 months, this recession will go on for years… In the 30s ROOSEVELT had WWII to bail out his meddling ineptitude… What will B. HUSSEINS bail out be???
Only conservative principles can return us to prosperity. Liberals will tell us that Republicans created this chaos. My response is that RINOs and Democrats created this chaos in the name of greed and power. Corporate America also played a significant role with the greed factor.
Maybe after liberals bring up upon the brink of collapse, the idiots who vote for liberals may give “Conservatives” a better look. Otherwise, we’ll become the old Soviet Union and be living three families in one small apartment funded by big brother. We’re already on our way.
uh, government run, unionized schools maybe.
Sadly, it has come to the point where we need a disaster to avert the “Disaster-That-Is-Washington-DC”.
Such an event is the only thing that will (albeit temporarilly) dissuade the Spend-A-Holic lunatics in Congress from their delusional “Life Is a Tradeoff-Free exercise” addictions.
Sadly again, that disaster is likely.
So, two wrongs DO make a right after all. I knew it.
I am up to 2 families in my home.
rocketman – its more like the parents stealing their kids credit cards and going on a spending spree.
Right is Right beat me to the punch on commenting on Dandapani’w post. After reading all the comments (which as a whole are the scariest I have ever seen following a lead story). The sorry conclusion is that my grandchildren will live (hopefully) through a worse depression than my parents survived. Unbelivably, generations of Americans alive today still think FDR and his policies lead us out of the Great Depression. Today we have even more millions of ignorant voters who will most likely never wake up in time.
It wasn’t generational theft when Reagan did it, or Bush, or Bush again.
Dandapani – my son is a senior in high school in a recent class discussion he was the only student who could answer a question about the law of supply and demand.
You’re right lgm. They should not have overspent either. Three wrongs dont make it right.
Anyone see the irony in that statement?
Yes it was. But none of them EVER did it on this scale. obama will spend more in his first month than the entire military expenditure of the usa on wars since clinton got in combined. IN HIS FIRST MONTH, lgm.
That is not irony, Ed. That is confirmation. Also, god-fearing people can love sleep too.
As I’ve said, people who live in the present tense only; opposite-worldview holders.
One can strive mightily to explain things to them, but they will never understand…never.
Thanks Mr. Bush…Good going there on the whole fiscal conservative republican principle in last 8 years. Glad you are going out.
Not that I disagree with you all that much but the 1.2 trillion is in ADDTION to current spending. This spending will be signed into laws by obama, not bush because it hasn’t made it through congress.
Reagan called the large deficit the biggest regret of his presidency.
I think we are running out of good faith from our foreign creditors to be mortgaging our children’s future any longer Michelle. Our government is now mortgaging our next month for the failed principal’s of Keynesianism. Unfortunately, the only collateral the government has left to mortgage is our dollar, and they are going to mortgage it to the hilt. Which means massive inflation in the near future, which will affect us all, right now.
lgm, only Congress can spend federal dollars. Presidents can only veto Congressional spending bills. You must have skipped out on social studies.
Reagan had a Democrat Congress and so did Both Bush boys during their terms. The Bush boys also had a Republican Congress at certain times.
Oh yea, you forgot to mention that Bush lied and people died.
Someone please tell Obama this.
I don’t think he has a clue.
RWR
http://www.rightwingrocker.com
Hear! Hear! It’s all about propriety and the unseemliness of Obama’s multi-trillion dollar plan of indebting future generations of Americans to China – when it is not essential to our economic recovery.
And yet they insist on breaking it further.
Very well said, BTW.
RWR
http://www.rightwingrocker.com
One thing we also have to remember is that this is just congressional spending. The Federal Reserve has added $8.5 trillion to the money supply during this crisis. This is money just printed out of thin air and given away. The Fed won’t even tell us where the money has gone!
Apparently, MM did too, then because she doesn’t mention Congress once.
will be burying my gold and silver before PEBO tries to take it away for the good of the country just like FDR did . What a tool call me in 4 years when this bumbling empty suited idiot is out of office . Then ill come out of my bunker, thats if we are still around in 4 years.
I’m surprised a question like that would even be asked, does he go to a gubberment school and if so, I wonder where did that union teacher ever hear of such a thing as “supply and demand”?
That’s not even fair, Chap. She talks about Congress daily. Check out the story on Nancy Pelosi dated today.
Quick history check lgm, Reagan was forced into spending in an effort to correct Jimmies poor economic wows in addition to rebuild the military that Jimmy tore apart , 1st Bush had a democrapic congress, he also was a liberal at heart like his son Bush the 2nd. Both the Bush’s were, are RINO’s. That is not an excuse for their actions only a clear reasoning.
Hmmm brad_sk, you make a good point. Does the 1.2 trillion defict include obamas 1 trillion spending spree or is it additional to it????
I think you missed my point. It wasn’t to deride MM. It was to deride orlandocajun, who thinks that Presidents don’t influence spending policy.
Sigh, it goes like this. The president writes the budget, congress re-writes it, the president signs it.
Bush has been as bad as the Democrats when it comes to spending, and he even had a Republican congress most of the time so there is no excuse. He has shown little inclination for fiscal restraint and never vetoed a spending bill until the Dems took over congress. The medicare presciption drug program is a financial disaster that has been tacked onto an even greater disaster. Once in while the Dems are right (usually by accident). Their complaints about the deficit spending have been fake but accurate.
No offense, but does LGM have you on retainer? This makes about three or four times I’ve noticed you coming to his defense over the course of the past year or so.
I rarely agree with lgm, but this is a very, very important point to make, especially on conservative blogs. The fact is that the buck stops with the president, and trying to defend Reagan and the Bushes from the massive increases in deficit spending during their administrations puts one on very thin ice.
Blaming 2 years of a democratic congress for all the ills being unleashed right now is not going to work. The fact is that Bush is a failure, a failure that we have to accept, reject, and vow to never again believe that liberal conservativism (read: neoconservatism) will drive the GOP forward.
I calls em likes I sees em. I know people here don’t like lgm, but that doesn’t mean he is necessarily wrong.
And for what its worth, if you ever say anything correct, I will be sure to defend you as well
.
Can’t go bankrupt if we can print the money to pay our debts indiscriminately. We will only bankrupt the value of the dollar.
Change ‘we’ can believe in.
Barack Obama
Careful what you wish for.
Hillary Clinton
I think lgm is saying generational theft is okay when his side does it. No surprise there.
That is almost the exact opposite of what he was saying.
The mistake of Republican presidents was to always roll over for the spendthrift scofflaw Socialists and not veto their ignorant spending bills. And the vetos were few and far between for fear of the negative propaganda campaign to come. Congress controls the purse. If they refuse to cut entitlement spending to maintain contact with the budget then it’s their fault. That’s always been the problem, Congress thumbs it’s nose at the budget because thay are not held accountable. They are indeed Paris Hiltons spending mommy’s dime.
Now we have to deal with their multi-trillion dollar theft of our wealth. All I can say to the Socialists is: payback will be absolute hell.
I seem to recall that opposition to Bush 43′s reckless spending was a main reason he fell into disfavor among conservatives, and a big reason the Republicans lost the house was conservatives who stayed home because they were fed up with spending.
Instead of criticizing his own side’s fiscal irresponsibility, lgm points fingers and says “they did it first” like a whining six-year-old.
Meanwhile, Chairman Zero is talking about “budget discipline” out of one side of his mouth while planning for trillion dollar deficits out of the other.
Very well said.
Good to see the use of the accurate term for those dangerous fools.
I certainly hope so.
They deserve at least that.
And, it couldn’t happen to a nicer bunch of people.
As a Canadian who has admired the U.S. for many years, it is terribly sad to see these events unfold. The Obama/Congress spending spree is just the latest step in a downward spiral that has gone on for over a decade.
In Canada, the Reform Party, a populist, right-wing group that went from 1 MP to Official Opposition made such a strong case for balanced budgets that we have had 11 years of significant surpluses and managed to pay off about 20% of the Federal debt.
Ross Perot’s American “Reform Party”, in reality his personal vehicle for publicity, not a genuine movement, only managed to make the idea of balanced budgets seem ludicrous.
When the international community stops buying U.S. Treasury bills (in one to two years, max) the only alternative for the wild spenders will be to debase the money supply. Obama might as well cut to the chase and take on Robert Mugabe as Treasury Secretary – might as well have an expert in making the currency worthless right from Day 1.
I think we’re going to have to be patient in waiting for payback. The Democrats are insulated from public opinion by a thick layer of MSM sycophancy. It is likely to take a while for the public to wake up to how corrupt and irresponsible the Democrats are. Look at Michigan, New Jersey, and Chicago; run into the ground by hopelessly corrupt Democrat machines… and they just keep electing more of them.
For a few decades now I have been saying that the difference between Republicans and Democrats is which pocket they steal from. Both are guilty of stealing from the tax payer.
GW Bush has taken money we did not have with (medicare drug plan, no child left behind, Iraq not funding the Iraq war, not enforcing the immigration laws, and blatant transfer of wealth to other nations, bailouts) Add these to the massive budget and we already had, and we are not facing bankruptcy.
Good for Canada. But will happen to their budgets when the US can no longer defend them?
Fortunately Canada is defended by 2 oceans. Although, they might have a pretty major problem with their southern border when Americans start mass emigration.
Afraid Socky is correct. It may be many years before any democrat (socialist) says to quote a character from the old Carol Burnett miniseries Fresno: “I knowed what I done was probably wrong,” but I needed to get reelected.
Here’s a hypothetical. Suppose the USA were to dissolve and split into, say, four countries. (The People’s Republic of New England, The People’s Democratic Republic of Pacifica, New Aztlan, and The United States of Jesusland), what would happen to the international debt?
Problem #1:
Trying to pin down Obama on his definition of “earmark” to include “pork-barrel” spending, proved fruitless. There will be pork!
Problem #2:
Obama asserted that “spending” would have to take place in order to get us out of this “crisis.” The then added that it would “potentially” save us money in the long term. Potentially? Really? Potentially? The additional spending is going to spiral out of control, with Bush getting the blame for starting it all.
Meanwhile (and you watch), certain powerful Democrats will not only enrich themselves through these “programs”, they will consolidate power to ensure future electoral victories to keep the party in power. The lot of the “impoverished” that they cavalierly use repeatedly to rationalize legislative action, will not improve. Should it, they would lose the majority of the Democrat Party platform.