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Posts Tagged ‘Debt’

Obama downplays S&P downgrade

by Phantom Ace ( 22 Comments › )
Filed under Barack Obama, Democratic Party, Economy, Headlines, Progressives at April 18th, 2011 - 4:58 pm

As I predicted in my earlier post on this, the regime Barack Hussein Obama downplayed the S&P downgrade. Rather than try to defend their Progressive agenda, The Obama regime called the downgrade political. As always, when painted into a corner, they demagogue and attack the messengers. This is a typical 3rd World Liberation tactic and Obama is introducing this method to America.

“I don’t think that we should make too much out of that,” top White House economist Austan Goolsbee said on MSNBC, referring to the S&P downgrade.

“What the S&P is doing is making a political judgment and it is one that we don’t agree with,” he said on CNBC.

The Obama regime can’t handle the truth, even though the markets didn’t.

Obama needs to stop blaming Bush

by Phantom Ace ( 90 Comments › )
Filed under Democratic Party, Election 2008, Elections 2012, George W. Bush, Progressives, Republican Party at April 18th, 2011 - 2:00 pm

The Blame Bush Card 3rd World Liberation Ideologue Barack Hussein Obama uses has gotten old. I was no fan of the Bush administration and was one of it’s fiercest critics. I got labeled a Communist, a traitor and an enabler for Al-Qaeda because of my Conservative based criticism of Bush. I still have a bad in taste in my mouth from my clashes with the Bush fanatics and I’m glad that era in Conservative politics is over. Obama however can’t let go of that time period.

The Bush years were a golden age to Progressives. They were able to attack the administration without any response. Anything that went wrong including hurricanes, bridge collapses and earthquakes were blamed on Bush. He did nothing to combat these smears and it lead to his political destruction. The irony off all this was that Bush oversaw the greatest expansion of the US government since LBJ’s Great Society. These attacks lead to the Republican collapses of 2006 and 2008. Once in power the Progressives continued to blame Bush. Obama did inherit deficits from Bush. Instead of trying to balance the budget and be fiscally responsible, he greatly increased the deficit and vastly increased the debt in just 2 years. Rather than man up and admit his responsibly for our fiscal mess, Obama resorts to the Left’s favorite tactic. He continues to blame Bush.

Your average poorly informed lefty (but I repeat myself) will reliably tell you that our current fiscal straits are the result of three things: 1. Bush’s wars; 2. Bush’s tax cuts for the rich; 3. Bush’s bank bailouts.

That is not true, of course: The main bank bailouts (odious as they were) have been paid back, often at a profit. The money-losing parts (and the likely money-losing parts) are the ones insisted upon by Barack Obama and his Democratic colleagues: the foreclosure-prevention programs, the endless maintenance of Fannie Mae and Freddie Mac, etc.

[…]

Definitional quibbles aside, the war spending and the Bush tax cuts don’t add up to a whole lot in the context of the $1.6 trillion deficit. What does?

The Department of Health and Human Services will see more than $900 billion in outlays in FY2011. About $83 billion of that is discretionary spending on things like the Centers for Disease Control. Almost all of the rest is Medicare and Medicaid — the two programs that President Obama has vowed to shield from substantial reform of the sort envisioned by Rep. Paul Ryan. The other big driver of spending, as the president himself acknowledged yesterday, is Social Security, meaningful reform of which he also promises to resist.

Read the rest: Not Tax Cuts, Not Wars, and Not Bailouts

As someone who was no fan of Bush, Obama needs to stop blaming him for the mess he’s created. If the job is too difficult for the current President, then he should resign or not run on re-election. Instead of paying off the credit card debt Bush left him, Obama has taken out 4 additional cards and maxed them out. Clearly his Demagogue style indicates the man is in over his head. Obama needs to man up or shut up.

Hoyer: No balanced budget for 20 years

by Phantom Ace ( 101 Comments › )
Filed under Democratic Party, Economy, Elections 2012, Republican Party at March 9th, 2011 - 11:30 am

You read the headline correctly! House Minority Whip, Steny Hoyer (D-Md.), has stated it will take twenty years to balance the budget. Clearly this shows how the Progressives don’t want to do the cuts needed to get our fiscal house in order. He doesn’t explain how we can run deficits for twenty years and keep accumulating debt without our credit rating being downgraded.

House Minority Whip Steny Hoyer (D-Md.) said on Tuesday that it may take as many as 20 years to balance the federal budget after years of deficit spending in Washington.

At Hoyer’s weekly press briefing on Capitol Hill, CNSNews.com noted that President Obama’s latest budget proposal does not balance at any time in the next 10 years and asked Hoyer, “Do you plan on introducing anything that balances within that 10-year timeframe, or is that possible?”

Hoyer said, “Now [that] we’re at $14 trillion in debt, I think the answer is – responsibly – we’re not going to get there [a balanced budget] in ten years, but we have to be on a very considered path to get there, certainly, within the next decade and a half or two decades,” Hoyer said Tuesday at his weekly press briefing.

Read the rest: Hoyer Says Federal Budget May Not Be Balanced for 20 Years

So it’s responsible to not balance the budget as quick as possible? No it’s irresponsible accepting massive deficit and accumulation of debt. This is a recipe for continuing anemic economic growth, job creation and wage increases we have had since 2001. Basically Hoyer is saying America is looking at two more lost decades of economic opportunity for Americans. This is irresponsible and criminal in my mind and the Republicans should go after him for this statement.

Barack Hussein Obama is of the same mentality as Steny Hoyer. After preaching fiscal responsibility in his 2008 campaign, he went to increase the federal debt and encourage the Federal Reserve to keep printing money. Now that the GOP controlled House is serious about bringing our fiscal situation under control, his true colors have been revealed. Rather than agree to cuts he is now advocating more spending.

“People started to realize what is needed is not either, or — not either more money or more reform, it’s both and. Both more money and more reform,” President Obama said at a technology school in Boston on Tuesday.

See the clip Here: Obama: “More Money” Is Needed For Education Reform

The US has spent billions on education over the last 30-40 years and nothing has improved. Clearly the issue isn’t more money, it’s the way subjects are taught. Most of the curriculum is designed by the Progressive NEA with the goal of indoctrination. They outcome they desire is teach people what to think, not how to think. What is needed is to break the back of the teachers unions, reform the curriculum and teach people skills they need in the real world. AN emphasis on critical thinking is needed. Borrowing more money from China or having the Feds print more money is not the answer.

In more Democratic/Progressive news here is something that should get out. The number three Democrat in the House, James Clyburn, D-S.C, will meet Louis Farrakhan. You read that correctly, the Minority Whip for the Democrats will meet with a known racist.

U.S. House Minority Whip James Clyburn, D-S.C., will join controversial Nation of Islam minister Louis Farrakhan Friday at Pittsburgh’s August Wilson Center for African American Culture for a live broadcast discussion on “The Disappearing Black Community and How We Can Get It Back.”

According to event details, Farrakhan will deliver the forum’s keynote address, focusing on “what blacks need to do to rebuild their communities and regain the purpose of the civil rights struggles of previous generations.”

This is just sickening and shows what the modern Democratic Party is about. The Progressive media gives a racist like Farrakhan a pass just because he is Black and a Muslim. James Clyburn should be condemned for meeting with this vile man. If this was a Republican he would be rightfully hounded for this. As we know, Democrats are allowed to do anything they want. Even murder is OK for Democrats since the media will give them a pass.

Europe today could be America in the future

by Phantom Ace ( 130 Comments › )
Filed under Democratic Party, Economy, Europe, Progressives at January 6th, 2011 - 2:00 pm

For too long Europe has had an easy ride. Rather than pay for their own defense, they have leeched off the Unites States and always criticize us when we use force. They are the first to insult America yet expect us to defend them. Those days are coming to an end as Americans are tired of war and being the world’s policeman. While Americans die, Europeans party and live the good life. Well now Europe is running out of money and it’s time to pay the bills. The US is not far off from this situation as states like California and New York show. The media is hyping this Obama Boom as the best economy since the 90’s and that things are good again. This is a lie since the US is accumulating debt at an unprecedented level. What we see happening in Europe, could be our future.

I Have seen the future, and it doesn’t work.

Don’t get me wrong: New Year’s in beautiful Barcelona was a blast. Spain is a great vacation spot, with good food and gorgeous women — but nobody seems to be working outside the tourist areas.

The reason is pretty simple: The Bernie Madoff-like Ponzi scheme of big government has been squeezing the productive class and redistributing its tax dollars and innovation to everyone else for years — and is finally reaching its boiling point.

And the way things are going, we’re probably not far behind.

Read the rest: Why Europe’s malaise could come here

Unless we get our fiscal house in order, these so called great times are an illusion.

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