It’s not the debt ceiling, that’s only the symptom of the problem- spending.
Dr. Susan Berry hits this out-of-the-park reading between the lines of what the pResident said last night to the American people:
Below are excerpts from President Obama’s latest address to the nation concerning the debt and deficit talks, followed by “subtitles,” which perhaps provide a more accurate perspective of the points he made:
“For the last decade, we have spent more money than we take in.”
- I won’t mention, of course, that I have added more to the national debt in just my first 19 months in office than all presidents from Washington through Reagan combined.
“In the year 2000, the government had a budget surplus. But instead of using it to pay off our debt, the money was spent on trillions of dollars in new tax cuts, while two wars and an expensive prescription drug program were simply added to our nation’s credit card.”
-Well, no, the nearly trillion dollars in the Stimulus, bailing out the banks, and the auto companies- this was important money spent that could have otherwise been used to pay down the debt if I really wanted to. So, that money doesn’t count…And those Bush tax cuts have been a thorn in my side…I really began to lose my base on that agreement to extend them…And about those wars, I’m referring to the ones in Iraq and Afghanistan that Bush started…not the ones in Libya and Yemen I’ve gotten us involved in… Oops, I probably shouldn’t have dissed that senior prescription drug program because later on in my speech I try to use the seniors as pawns again to get them frightened about how Republicans want to cut their Medicare.
“To make matters worse, the recession meant that there was less money coming in, and it required us to spend even more.”
- That’s this neat Keynesian economics I learned in college. I thought I’d try it out on the country when I became president. We have less money, so we spend more. It really works!
“Now, every family knows that a little credit card debt is manageable. But if we stay on the current path, our growing debt could cost us jobs and do serious damage to the economy.”
Read the remainder of this insight commentary here.
Truth is a strange thing. Need I remind anyone who controlled Congress and signed into law the Stimulus package?
During President Obama’s press conference today, he scolded Republicans for demanding tax cuts for corporate jets.
From the Associated Press in 2009:
Just a few months after lawmakers scolded auto executives for flying to Washington in private jets, Congress approved a tax break in the stimulus package to help businesses buy their own planes.
The incentive — first used to help plane makers recover from the 2001 terror attacks — sharply reduces the up front tax bill for companies who buy assets like business planes.
Ace of Spades has an appropriated titled post “Obama’s Absolutely Unbelievable Press Conference” to read a further breakdown on the political posturing of Obama during his press conference.
Okay here we go.. first allow me to say, I like Representative Michele Bachmann. Continually I have seen her stand against big government and a return to Constitutional reasoning. All of which fly in face of her most recent policy position on suggesting a Constitutional amendment which defines marriage as being between a man and woman. I can’t help but wonder who slipped her socialist Kool-Aid when she wasn’t looking? Socialist in the sense that her beliefs supersede common sense and a purist recognition as to what the fundamental concepts of the Constitution are about.
What exactly is the Constitution for? Well, if you’re Barack Obama it’s chuck full of negative liberties, a.k.a rights granted the America people through our humanity by God. Which according to the Obama world prevent him from creating the socialist Utopia which in theory may sound all comfy cozy but in the reality hasn’t worked ANYWHERE in the world. That’s is why he believes it to be negative.
Now enter Michele Bachmann, given her recent stated policy position, she must believe the Constitution is for constructing society according to her religious beliefs. Sure she tries to wiggle around it by stating:
…it’s also up to the states to decide whether they permit same-sex marriage.
After all, the family is the fundamental unit of government.
How is the family a fundamental unit of government? Seriously, isn’t that what aspects of the Tea Party are rallying against; intrusive government in to the very intimate fabrics of our lives? If Bachmann believes the family and government are intimately tied together then how can she rationalize her belief that Obamacare should be repealed? I mean come on, a healthy family and all should also benefit the government? Just how exactly are the family and government tied together? Outside of the abuse of children in the family unit, the government should have NO say as to what the family does.
And what exactly is this administrations energy policy? And do they know the American people are hurting? Yet the more accurate question is does this administration care?
High prices at the pump are putting a squeeze on the as the traditional summer driving season begins. For every $10 the typical household earns before taxes, almost a full dollar now goes toward gas, a 40 percent bigger bite than normal.
Households spent an average of $369 on gas last month. In April 2009, they spent just $201. Families now spend more filling up than they spend on cars, clothes or recreation. Last year, they spent less on gasoline than each of those things.
The ramifications are far-reaching for an economy still struggling to gain momentum two years into a recovery. Economists say the gas squeeze makes people feel poorer than they actually are.
They’re showing it by limiting spending far beyond the gas station. Wal-Mart recently blamed highfor an eighth straight quarter of lower sales in the U.S. Target said were hurting sales of clothes.
Every 50-cent jump in the cost of gasoline takes $70 billion out of theover the course of a year, Hamilton says. That’s about one half of one percent of gross domestic product.
Read the entire article at the above link.
The question today is how does a government agency stacked with bureaucratic slugs, who have no accountability to the American people, wield the power to prevent a private oil company from drilling?
Shell Oil Company has announced it must scrap efforts to drill for oil this summer in the Arctic Ocean off the northern coast of Alaska. The decision comes following a ruling by the EPA’s Environmental Appeals Board to withhold critical air permits. The move has angered some in Congress and triggered a flurry of legislation aimed at stripping the EPA of its oil drilling oversight.
No government agency should have the power to enact laws or as they prefer to call them rules which prevent companies from doing business. Agencies should have the power of oversight to enforce laws created by Congress, not blanket power to essentially shut down a private enterprise from doing business.
Instead of honestly dealing with the avalanche of debt threatening to bury the United States, the Obama administration attempts to persuade Standard’s and Poor to not lower credit rating. Truly the Chicago thuggery way..
Even though the White House has publicly downplayed the credit warning issued Monday from a leading agency, Obama administration officials were privately trying in recent weeks to convince Standard & Poor’s not to lower its outlook for U.S. debt from “stable” to “negative,” Fox News has confirmed.