> Obama Regime Report < Obama Regime Report: The Long-Term Budget Outlook / Obama's Trickle Down Recovery

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Friday, July 17, 2009

The Long-Term Budget Outlook / Obama's Trickle Down Recovery

Or we could call it the 'Tax Borrow and Spend" Boogie as well.

Our present economic situation couldn't be more precisely explained than it is in the opening section of a post from the CBO director's blog today also linked on Drudge..

That is besides using my three favorite words when it comes to we American's expecting any quick or even modest rewards from Obama's financial policy....Earth to Obama and Friends........."It Wont Work."

Hence My Title "Trickle Down Recovery"..after looting our paychecks, with obscene taxes from all quarters, it then starts at the top, then trickling down that good old "tingling leg" right up until a couple loose drops finally reach the floor .

Only giving a little back to us of which they already took.. Talk About Voodoo Economics, this is it.

Director’s Blog » Blog Archive » The Long-Term Budget Outlook: "Under current law, the federal budget is on an unsustainable path, because federal debt will continue to grow much faster than the economy over the long run.

Although great uncertainty surrounds long-term fiscal projections, rising costs for health care and the aging of the population will cause federal spending to increase rapidly under any plausible scenario for current law. Unless revenues increase just as rapidly, the rise in spending will produce growing budget deficits. Large budget deficits would reduce national saving, leading to more borrowing from abroad and less domestic investment, which in turn would depress economic growth in the United States.

Over time, accumulating debt would cause substantial harm to the economy. The following chart shows our projection of federal debt relative to GDP under the two scenarios we modeled"

continued here

I think of a quote from an action movie, not exactly Shakespeare but pertinent nonetheless..

It comes from a scene with the character Pinball played by Dave Chappel where he says this:
I hate to say this, Cyrus, but we are three white dudes short. Or as they say in Ebonics, "We be fucked".
Under Obama's worldview, "We be fucked" will be the phrase of the month every month until final collapse unseen in modern times and that's no joke.


The urge to save humanity is always a false front for the urge to rule it. H. L. Mencken

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