If Only We Would Look!

Wish somebody in our own Congress would stand up and say to Obama the same thing that Mr. Hannan said to Gordon Brown.

 

Overheard a great analogy on possibly Hugh Hewitt last week. It went like this: Obama's plan is like someone who wants to loose 50 pounds, so he gains a 100 pounds and then looses 50~ He's still 100 pounds over weight and is worse off then if he had done nothing.

 

 

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The Obama Deficits...as far as the eye can see


Conservative Outpost  | http://www.conservativeoutpost.com/obama_deficits

The Heritage Foundation has done a fantastic job of breaking down Obama's budget deficits (http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/) and poking holes in most of his claims.

First up, have a gander at the handy-dandy chart they've put together that shows our deficits up until 2008...and then the Obama deficits going forward, (both his own "claimed" numbers...and the bi-partisan Congressional Budget Office's numbers).

It is, to say the least, breathtaking... (Bush deficit vs Obama deficit in pictures)

They point out that the Bamster claims he'll "cut the deficit in half" in ten years...but he leaves out the useful fact that he means "half" of what he runs it up to this year.  And, of course, he doesn't like to talk about how much these deficits will add to the overall national debt...as in, it will double it.

You can catch their complete breakdown here.

So how does all this get financed?  Well debt, of course.  The only problem there is that money is starting to lose it's taste for buying debt...as in, government bonds aren't selling nearly as fast...and we're having to raise the interest rates to sell what does get sold.

The Entitlement Monster that Ate the Budget

Of course we've heard all about those new programs Obama wants to add...and we're all familiar with the money spent (and to be spent) on "stimulus" and bailouts.  But when you take into account what happens in the future once we total up the costs of expansions to Medicare and Medicaid, it truly gets staggering.  From Heritage:

Going forward, Medicare costs are projected to more than triple from today's 2.7 percent of GDP to 9.4 percent by 2050. In current terms, a cost increase of 6.7 percent of GDP would equal $916 billion, or $7,930 per household annually. According to CBO, if the entitlement growth was funded by issuing debt, the debt-to-GDP ratio would rise from about 37 percent today to more than 290 percent in 2050. If entitlement growth was funded by raising taxes, CBO analysis indicates that income tax rates would nearly double from current levels.

Incredible.  At some point, all you can do is laugh and shake your head.

Anyone who doesn't think we're on a fast track to a tax-revolt and a potential political meltdown is kidding themselves.

Sooner or later, many of the law-abiding folks who pay this freight will simply throw up their hands and say "no".  And what percent of taxpayers engaging in some good old-fashioned civil disobedience by not paying those taxes will it take to bring the entire system to a halt?  And what do you do with them?  There aren't enough jails...and who'll be paying the jailors anyway?

 

 

 

 

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http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

Bush Deficit vs. Obama Deficit in Pictures

  Posted March 24th, 2009

President Barack Obama has repeatedly claimed that his budget would cut the deficit by half by the end of his term. But as Heritage analyst Brian Riedl has pointed out, given that Obama has already helped quadruple the deficit with his stimulus package, pledging to halve it by 2013 is hardly ambitious. The Washington Post has a great graphic which helps put President Obama’s budget deficits in context of President Bush’s.

What’s driving Obama’s unprecedented massive deficits? Spending. Riedl details:

  • President Bush expanded the federal budget by a historic $700 billion through 2008. President Obama would add another $1 trillion.
  • President Bush began a string of expensive finan­cial bailouts. President Obama is accelerating that course.
  • President Bush created a Medicare drug entitle­ment that will cost an estimated $800 billion in its first decade. President Obama has proposed a $634 billion down payment on a new govern­ment health care fund.
  • President Bush increased federal education spending 58 percent faster than inflation. Presi­dent Obama would double it.
  • President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs. President Obama has already in­creased this spending by 20 percent.
  • President Bush tilted the income tax burden more toward upper-income taxpayers. President Obama would continue that trend.
  •  

  • President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.

UPDATE: Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers above. Also, some Obama defenders are claiming the graphic above represents biased Heritage Foundation numbers. While we stand behind the numbers we put out 100%, the numbers, and the graphic itself, above are from the Washington Post. We originally left out the link to WaPo. It has been now been added.

CLARIFICATION: Of course, this Washington Post graphic does not perfectly delineate budget surpluses and deficits by administration. President Bush took office in January 2001, and therefore played a lead role in crafting the FY 2002-2008 budgets. Presidents Bush and Obama share responsibility for the FY 2009 budget deficit that overlaps their administrations, before President Obama assumes full budgetary responsibility beginning in FY 2010. Overall, President Obama’s budget would add twice as much debt as President Bush over the same number of years.

Josie06 Josie06
56-60, F
4 Responses Mar 27, 2009

While Republicans are twisting their little hands, so concerned about the budget. Americans are losing jobs and incomes at an awe inspiring rate. The house is on fire and there are people inside! Hello? We'll worry about tomorrow later, right now, there are real livesto save. I don't know about you, but I do not want to live in a country where the young people have no hope. We need the government to step up now and spend, baby, spend. Cause nobody else can. Or will.

I am out there daily with all kinds of people of all income levels and all educational levels most of which seem to have hope for what Obama may be able to do.<br />
Most understand that he faces a huge amount of issues that are complex and that it will take more than 100 days to fix what Bush broke.<br />
I respect your right to your opinion and I will defend to my last breath your right to be wrong.<br />
Bottom line is this Josie, Since before he got elected (not selected) you have not given him a single chance to do the job.<br />
Are you that afraid of a black man in office or do you just fear that he just may susceed and maybe that will crush conservative chances of controlling the White House ever again?<br />
I am in the ditches every day selling things to people who have hope and are pulling themselves up and moving forward,<br />
besides being out in the world I am also working to ensure Obama has a real chance to susceed because that is what is good for my country.<br />
I am a true patriot I want America to survive no matter who occupies the oval Office... unlike Rush Limbaugh who prays Obama wont susceed..........What a patriot he is huh?

Elfinsong ... you need to get out more and see the world as it really is ... not sit back and hope.

I could play with crayons all morning and come up with lies and misrepresentations as well.<br />
Stay away from the conservative deceit machine and you will be a lot happier in life.<br />
Sucks to be on the losing side........ doesn't it?<br />
Bush destroyed nearly every support column this country was built on.....How can you still defend him?