EmptyTimCup
08-27-2009, 07:15 AM
:coffee:
EDITORIAL: The $10 trillion deficit disaster (http://www.washingtontimes.com/news/2009/aug/27/the-10-trillion-deficit-disaster/)
America was out of money a long time ago
By THE WASHINGTON TIMES | Thursday, August 27, 2009
We sure are out of money -- and the true deficit number probably is at least another $1 trillion bigger.
The Obama administration's $9 trillion estimate presumes that Congress will pass a carbon-cap bill and receive $640 billion in revenue from carbon taxes. The deficit estimate also assumes passage of legislation that would raise taxes on international businesses by $200 billion. But it is dubious whether either revenue bill will pass, as they both face opposition from some Democrats in the Senate.
The administration's predictions are based on the claim that there somehow will be many large spending cuts in the future. Quite unbelievably, the White House also claims that its proposed government health care will not introduce any new fiscal burdens.
Obamanation should be asking @ what point does our printing money make it cheaper to make a bank withdrawal to wipe our butts than buying a pack of Charmin
:popcorn:
It's rather ripe to recall that Mr. Obama was complaining that the George W. Bush administration was "living beyond our means" when deficits over President Bush's eight years totaled about $3 trillion. And those $3 trillion should not be blamed entirely on Mr. Bush or the Republicans because the largest deficits occurred during the years when the Democrats controlled both the House and Senate.
:jerry:
EDITORIAL: The $10 trillion deficit disaster (http://www.washingtontimes.com/news/2009/aug/27/the-10-trillion-deficit-disaster/)
America was out of money a long time ago
By THE WASHINGTON TIMES | Thursday, August 27, 2009
We sure are out of money -- and the true deficit number probably is at least another $1 trillion bigger.
The Obama administration's $9 trillion estimate presumes that Congress will pass a carbon-cap bill and receive $640 billion in revenue from carbon taxes. The deficit estimate also assumes passage of legislation that would raise taxes on international businesses by $200 billion. But it is dubious whether either revenue bill will pass, as they both face opposition from some Democrats in the Senate.
The administration's predictions are based on the claim that there somehow will be many large spending cuts in the future. Quite unbelievably, the White House also claims that its proposed government health care will not introduce any new fiscal burdens.
Obamanation should be asking @ what point does our printing money make it cheaper to make a bank withdrawal to wipe our butts than buying a pack of Charmin
:popcorn:
It's rather ripe to recall that Mr. Obama was complaining that the George W. Bush administration was "living beyond our means" when deficits over President Bush's eight years totaled about $3 trillion. And those $3 trillion should not be blamed entirely on Mr. Bush or the Republicans because the largest deficits occurred during the years when the Democrats controlled both the House and Senate.
:jerry: