Thursday, February 19, 2009

Deep Impact: The Federal Deficit

From Maynard at The Federal Deficit
This graph, taken from this Wall Street Journal article, shows what we're up against. It's a crime beyond imagination against the American people.

This monster is not of Obama's creation. It's a product of long-term rot and corruption; the consequence of fools and demagogues pandering to the lowest common denominator, promising ever-more goodies to an ever-needier mob.

For a brief moment, I hoped the shock of the current crisis would bring an element of reality to the debate in Washington. Certainly Obama would do the right thing. Not because he wanted to, you understand, but because he had no choice. I thought the nation had reached that late stage of addiction where the addict has hit bottom, and finally faces his issues head-on.

I stand corrected. We haven't hit bottom yet, but Obama is working on that. His "stimulus" package may become our final binge. What Reagan did to the Soviet Union, Obama is now arranging for us.

This is only the beginning. [...]

He goes on to say that as the baby boomer generation continues to age, demands on Social Security and Medicare will increase, consuming a greater portion of the GNP than the entire current Federal budget.

And hardly anyone is talking about the compounded interest on all the debt. What do you think will happen if interest rates rise? We just keep printing more money? Can you say "Currency collapse"?

This isn't about partisan politics. It's just simple math. Does anyone in the Federal government know how to do that anymore?

Related Links:

Is Obama compounding Bush's mistakes?

What would a U.S. currency collapse look like?

Washington really is broken. See how it "runs"


Anonymous said...

The 2009 budget was established by the 2008 Congress and the 2008 President Bush.

President Obama (and 2009 Congress) is responsible for the 2010 budget, which is set in 2009.

I have no love for President Obama, but please put blame where blame is due. Plenty to go around.

Chas said...

Uh... you should probably actually READ the blogpost before commenting on it. If you had you would have seen that your comments aren't relevant to the text, which was about how Obama was then (in Feb. 2009, the date of the post) adding to the mistakes made by others, thereby compounding them, instead of correcting them.

And looking back from 2012, that is exactly what has happened, as we now seem to be heading for QE3, which will further devalue our currency.

Joe from down south said...


People just don't get it. Obama is bringing the US to its death. People are so ignorant now that they can't even see what is going on, they don't look into anything, and they get their state propaganda from the mainstream media. I'm sick of Obama and the obamatons that are following him down the road to living hell for all that live here, and probably the world. I smell revolution and the government is fomenting it. They want a confrontation. They cannot have their New World Order if our nation is free and the world power. Well, as my Russian professor said to me, "I've seen this before, and the Dems are nothing but Communists. If I were you I'd be stockpiling guns and bullets". That's a scary prophecy from a man who lived under communism and hates it. Hope the sheople wake up soon because time is just about up!