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The Heritage Foundation’s Amanda Reinecker lays bare the charade of President Obama’s so-called spending freeze:
A Grim Fiscal Forecast
February 2, 2010 | By Amanda Reinecker
“In his State of the Union address last week, President Obama vowed that his administration would enforce a three-year spending freeze to help dig the country out of a ‘massive fiscal hole.’ But [...]
Posted by Jerry Pomeroy as Best Of the Web, Budgets, Obama Presidency at 2:49 AM UTC
President Barack Obama just released his proposed budget for the coming fiscal year and if you haven’t read the numbers yet you’d better sit down. The bad news is neatly summarized in an Associated Press subhead: “Record spending, record deficit.” A full third of Obama’s $3.8 trillion proffer will be funded with borrowed money. That’s $1.3 [...]
Posted by Jerry Pomeroy as Budgets, Obama Presidency at 2:46 PM UTC
During the last several decades, liberal Democrats have dominated California politics, but the pinnacle of their power was reached in the first years of this century. Gray Davis was Governor, all 5 statewide offices were held by Democrats and both state legislatures were dominated by Democrats. California had become the Petri dish of liberal wish fulfillment.
Budgets were crafted on [...]
Posted by Jerry Pomeroy as Budgets, Economics, Government Blunders at 5:00 PM UTC
The government of the United States is awash in a sea of red ink. The current debt ceiling of $12.1 trillion will be breached shortly, an event laced with foreboding. With the national debt forecast to exceed $20 trillion during the next decade, a rational person would expect someone in Washington to call a halt [...]
Posted by Jerry Pomeroy as Budgets, Economics at 3:04 PM UTC
The Obama administration has revised its estimated 10-year deficit. The new figure ballooned to some $9,000,000,000,000, and that’s the good news. The bad news is that such government projections are almost always low, sometimes wildly so. For instance, in the 1960s Democrats guessed what Medicare would cost 30 years hence. They were low by a factor of [...]
Posted by Jerry Pomeroy as Budgets, Obama Presidency, Video at 11:30 AM UTC
“Another tricky budget devised for California” headlines the following column by Sacramento Bee writer Dan Walters. Based on what Walters writes, I’ll lay 5 to 2 that the Golden State’s budget will again be in the red before this year is out. Maybe sooner. Please refer to Lone Star Archetype for hints on how to remedy [...]
Posted by Jerry Pomeroy as Budgets, Guest Authors at 5:24 PM UTC
Spending money like it can just print the stuff, the federal government has squandered slightly more than $1 trillion through the first nine months of this fiscal year. What’s so bad about that? Every dollar was borrowed or printed, that’s what. According to CNNMoney.com’s Catherine Clifford, “By the end of fiscal 2009, the government expects to be [...]
Posted by Jerry Pomeroy as Budgets, Obama Presidency at 4:24 PM UTC
Making things worse:
Governments all over America are struggling during this economic downturn. Without exception, less economic activity means fewer dollars available for public expenditures. And, because most municipalities and states in our fair land spend as much or more than they receive in good times, a recession like this one means red ink by the [...]
Posted by Jerry Pomeroy as Budgets, Economics, Government Blunders, Taxation at 11:51 AM UTC
Watch this and consider if we really want the Univacs running Washington to control healthcare, or anything else for that matter:
Do not adjust your computer screen. As incredible as it sounds, the headline is correct. Speaking in New Mexico yesterday, President Obama laid out a powerful case against deficit spending. Sounding every bit like a Ron Paul [...]
Posted by Jerry Pomeroy as Budgets, Economics, Taxation, Video at 7:04 AM UTC
Is sound produced by a falling tree if no living thing is within earshot? Philosophers have debated this and other abstruse questions for, well, too long. However, the conundrum lends itself to contemporary American political machinations. Trees, in the form of unmistakable governmental blunders, are plopping down all over the place, yet no one seems to appreciate the inevitable consequences certain to hammer Americans [...]
Posted by Jerry Pomeroy as American Dependence, Budgets, Economics, Government Blunders, Obama Presidency at 5:26 PM UTC