Change? Ahhohh!
Posted on 27. Feb, 2009 by scott in economic daydreaming
I have been looking over some of the budget numbers for our new President’s term . . . this year and the next seven (assuming he makes it that long).?
This is really bad news and confirms my fear that Obama is further left than?I had previously hoped.? Big government?? The biggest!? Huge government spending?? The huge-est!?Increasing taxes?? The increasing-est!? And that is only the beginning.
$1.7 trillion deficit this year (more than three times last year’s).? Another $1.2 trillion next year.? Oh, my gosh.??I may just re-enlist in the republican party because these democrats are making Karl Marx seem like Howdy Doody.
If?I read this stuff right then we are going to add about $7-8 trillion of deficit in the 8 years that Obama will likely serve.? We haven’t had that kind of government spending since . . . . well the nearest?I can come up with is when the Emperor Nero tried to rebuild Rome by burning it down first.? Don’t think the analogy is as bad as it sounds–give kids (read Congress) some matches and you bet there is gonna be a fire.?
A?caveat here though.? Obama is throwing in the cost of our wars (which Bush should have done) and adding a few other things to make the deficit look (and feel) a lot worse right now.? This is a political move though and is intended to make the $600 billion deficits in four years or so seem good since they will cut this year’s deficit by more than half.? But that is smoke and mirrors.? The plan calls for the deficit in every year of Obama’s 4 or 8 year term to be GREATER than any in the Bush years.? Holy mackerel!!
I?had such high hopes for Obama.? Now he seems to be playing right into Pelosi and Reid’s playbook that was written by John-boy Keynes.? They think government can solve all problems and at any cost.? Big mistake.? I would like you to name be five big problems the government ever solved effectively.
I’m not going to make any final judgement yet but right now the future is not looking that good for free-market economists.
Change?? Wasn’t looking for this kind, this fast, this big, this awful!
Wow, even Wweden is looking downright Adam Smithian.
Honors and Recognitions
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