Economic Disinformation Abounds

I've noticed time and again over the last 24 hours since it became known that Sen Benn Nelson of Nebraska's bribe price was finally reach that many people have been kicking around facts and figures that are...at the very least weak if not outright distortions. This started out as a comment on a story at theHill.com but was too long to be printed...so I'm printing it here. That story was how Democratic Congressmen and Senators who are retiring are going to vote the party line...because they don't have to answer to their constituents any more and they've been promised excellent jobs...on the other side.

The gist of the comments was that George Bush started the huge deficit spending...but Obama is "merely extending it". The refrain "it's Bush's fault" repeats through many of the comments...Here is a graph of spending in the past 9 years...with this years (then) proposed spending:



Keep in mind..this chart is from several months ago...and the real deficit spending has been this year $1,800,000,000,000.00. That's a huge amount.

Sorry Dale, but in Geo Bush's entire stint in the White House, he racked up $480 billion in deficits...this year, Mr. Obama has spent $1,400,000,000,000.00 in deficits. That is nearly 3X's what George did. I didn't like his spending policies one bit...

The deficit spending this year has had the effect of spending roughly $2,300,000.00 for every (temporary) job "saved" or created through Federal spending. These jobs will need to be funded each and every year...else they are only temporary. On the other hand, in the private sector, it takes $330,000.00 for each PERMANENTLY created job. What has occurred with the "stimulus" package was to starve the private sector of funds. Those funds went to buy bonds...and are just was wasted as if they were never used.



This graph show projected debt...

Now...the half the "stimulus" has been spent and real unemployment is about 17%, not the 10% often reported in the media. That's just juggling number. What makes it so bad, is that in blue color jobs, unemployment is above 40%. Construction and manufacturing jobs are gone and are unlikely to return. Construction jobs that remain are going to illegals who are willing to work for 1/3 to 1/2 of what an America will work for.

Now, with the now certain passage of this governments plan to seize control of nearly 1/6 of the economy through the take over of health care industry, most small businesses aren't going to be hiring full-time employees...because they will then have to provide federally mandated health care...when the Congress 1st implemented Medicare, they figured that in the late 1990's, it would max out in costs of $40 billion...in 2002, Medicare cost $400 billion dollars...now do you really expect health care costs be contained now that our "efficient" government has taken it out of your hands?

NO! Take a good close look at the VA...as a disabled veteran I have done everything I can to stay out of their clutches. I was told there was a 3 year wait for surgery on my knees...which were severely damaged in a service-connected disability. I had it done in weeks at my own expense, because I got tired after 2 years of using crutches. The VA is the model the government is planning to follow...get used to standing in lines for health care, just like at the DMV.

The Federal government can't run the post office or AmTrack at a break-even efficiency...what makes you think they can SAVE money running health care. This is a disaster fiscally by any measure. When you throw in Cap & Trade, it will likely be a death-blow to the economy. It will take decades to recover from this insanity.