August 25, 2009
Day 217... and It's STILL All Bush's Fault!
Viddie this, oh my droogies, with glazzies of your very own...
The federal government faces exploding deficits and mounting debt over the next decade, White House officials predicted Tuesday in a fiscal assessment far bleaker than what the Obama administration had estimated just a few months ago.
Figures released by the White House budget office foresee a cumulative $9 trillion deficit from 2010-2019, $2 trillion more than the administration estimated in May. Moreover, the figures show the public debt doubling by 2019 and reaching three-quarters the size of the entire national economy.
Obama economic adviser Christina Romer predicted unemployment could reach 10 percent this year and begin a slow decline next year. Still, she said, the average unemployment will be 9.3 in 2009 and 9.8 percent in 2010.
And now, the punchline:
"This recession was simply worse than the information that we and other forecasters had back in last fall and early this winter," Romer said.
I think we all get it now. Hunker down for 41 more months of "Look what you made me do!"
But wait -- there's light at the end of the tunnel. President Barack H. Obama has a cunning plan to get us out of this economic death spiral:
[Budget director Peter] Orszag, anticipating backlash over the deficit numbers [you think?], conceded that the long-term deficits are "higher than desirable." [You think?] The annual negative balances amount to about 4 percent of the gross domestic product, a number that many economists say is unsustainable [you think?].
But Orszag also argued that overhauling the health system would reduce health care costs and address the biggest contributor to higher deficits.
Thanks goodness for ObamaCare; we can balance the budget with huge cuts in health care.
Isn't it wonderful finally to have an actual genius in the White House, instead of that slope-browed illiterate from Texas, whose only experience with financial matters was running several businesses?
Say -- is that an onrushing train I hear?
Hatched by Dafydd on this day, August 25, 2009, at the time of 7:21 AM
TrackBack URL for this hissing: http://biglizards.net/mt3.36/earendiltrack.cgi/3842
The following hissed in response by: Michael Babbitt
I am thankful for your blog which most always offers great insights, good argumentation, and a good read. But in this case no insight nor argumentation is really needed. The arrogance, immaturity, and pure stupidity of the Obama administration and their media enablers (Obamabots) are there for anyone with eyes to see. They have been devoured by their own post-modern hatred of common sense.
The following hissed in response by: MarkJM
If I recall correctly from 2002 to 2006, the deficit was actually going down with unprecidented sustained job growth and the highest recorded IRS revenue ever! Then what happened? Oh yeah, that's right. Democrats took control of Congress and the purse strings. Then Senator Obama VOTED FOR TARP! Not his fault? ANYONE that votes for a Democrat at ANY level of government either hates America and wants to see Her destroyed, or is a complete misinformed/uninformed moron. Wake up America!
The following hissed in response by: cdor
"But Orszag also argued that overhauling the health system would reduce health care costs and address the biggest contributor to higher deficits."
As some say, this is the statement that sent my coffee spewing all over my monitor. This must be that "NEW MATH" they teach these days. Take a system where 40% is run by the government (medicare/medicaid/schip) and is accumulating a $37 trillion unfunded liability, add to it the remaining 60% run privately and profitably with no unfunded liabilities, oh, and add another (47 million/NOT) who aren't in any of the previously mentioned segments, increase coverage (all pre-existing conditions) with no rationing...VOILA!, so much money will be saved that not only will we pay off the debt, but we will open our borders to all the medically needy from the entire world and pay for them as well.
Now we know why we ALL should vote for The ObieOne. Both my legs are tingling, Chrissie.
The following hissed in response by: MarkJM
This slogan needs to get around:
the Enemy of Freedom,
the Obstacle to Opportunity, and
the Destroyer of Dreams.
In particular, the American Dream.
Post a comment
Thanks for hissing in, . Now you can slither in with a comment, o wise. (sign out)(If you haven't hissed a comment here before, you may need to be approved by the site owner before your comment will appear. Until then, it won't appear on the entry. Hang loose; don't shed your skin!)
© 2005-2009 by Dafydd ab Hugh - All Rights Reserved