Wednesday, April 22, 2009
Tea Parties...
The recent "Tea Parties" held around the country are not as the MSM would have you believe merely about taxation, but rather about the runaway spending that has escalated inside the DC beltway.
But the efforts to short-circuit them (i.e. Janeane Garofollo's rant on racists), and joke about them is going to, in the end, backfire. The people who attended them, weren't racists, they were on the whole, people who DON'T attend political protests. Nor were they "right wingnuts". Just people who are afraid of mortgaging our grand children's future.
Out of control government spending is not going to solve the financial crisis, it's going to exacerbate it. Obama wants to triple the national debt. His spending makes that of Geo. Bush look like an amateur
"In the first independent analysis, the nonpartisan Congressional Budget Office concluded that President Obama's budget would rack up massive deficits even after the economy recovers, forcing the nation to borrow nearly $9.3 trillion over the next decade." SOURCE: CBO, White House Office of Management and Budget | The Washington Post - March 21, 2009
I tried to import the graphic that was included but here's thelink
http://www.washingtonpost.com/wp-dyn/content/graphic/2009/03/21/GR2009032100104.html
It clearly shows that Obama's projected spending will literally bankrupt the country in 10 years. I say bankrupt, because we cannot sustain this level of spending without a massive increase in taxation across the board. On the otherhand, borrowing the money through bond issues isn't a viable alternative either. The last bond issue of the US Treasury didn't sell out, for the 1st time in our history, neither did the British sale, held on the same day. The Chinese government, the largest holder of US debt, has recently begun selling off some of the notes they presently hold. If the Chinese aren't buying US Government debt, who will?
But the efforts to short-circuit them (i.e. Janeane Garofollo's rant on racists), and joke about them is going to, in the end, backfire. The people who attended them, weren't racists, they were on the whole, people who DON'T attend political protests. Nor were they "right wingnuts". Just people who are afraid of mortgaging our grand children's future.
Out of control government spending is not going to solve the financial crisis, it's going to exacerbate it. Obama wants to triple the national debt. His spending makes that of Geo. Bush look like an amateur
"In the first independent analysis, the nonpartisan Congressional Budget Office concluded that President Obama's budget would rack up massive deficits even after the economy recovers, forcing the nation to borrow nearly $9.3 trillion over the next decade." SOURCE: CBO, White House Office of Management and Budget | The Washington Post - March 21, 2009
I tried to import the graphic that was included but here's thelink
http://www.washingtonpost.com/wp-dyn/content/graphic/2009/03/21/GR2009032100104.html
It clearly shows that Obama's projected spending will literally bankrupt the country in 10 years. I say bankrupt, because we cannot sustain this level of spending without a massive increase in taxation across the board. On the otherhand, borrowing the money through bond issues isn't a viable alternative either. The last bond issue of the US Treasury didn't sell out, for the 1st time in our history, neither did the British sale, held on the same day. The Chinese government, the largest holder of US debt, has recently begun selling off some of the notes they presently hold. If the Chinese aren't buying US Government debt, who will?
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