CHESSNOID

Listen, even if you love Obama and everything he stands for “Hope and Change”, you would be very ignorant to think he will be able to cut the deficit by increasing the budget to 3.6 TRILLION DOLLARS.   His “Robin Hood” approach on a national level to rob from the rich and give to the poor sounds good in his speech, but believing it will be properly executed  requires you to believe in Santa Claus, the Easter bunny, and the Tooth Fairy.

When Obama, Biden and all the other silly senators passed the Fraud Bailout last year, they said it was necessary and would help revive the economy.  They guaranteed transparency and accountability and did not deliver! We know where that money went, well, at least $20 billion worth went to CEO bonus or compensation, lavish parties for AIG, and even a $35,000 toilet for a CEO!  Do I think the biggest budget ever will really be paid for by the richest population of America?  Hell no, because I am not naive.   This budget will be paid by you and me, the American taxpayer.

NY Times:

Obama enthusiastically perpetuates the myth that the American people can have everything they want without a dose of shared sacrifice. They can have health care, education reform, even a cure for cancer, and 98 percent of them need pay nothing. The burdens of progress will be borne by the rich while everyone else can enjoy their tax cuts and go shopping.

Obama perpetuates base-line gimmickry. He claims to save hundreds of billions by drawing down forces in Iraq. But even the Bush administration was going to draw down. Obama is claiming bogus savings by not spending money that never would have been spent anyway.

Obama grades himself on a curve. He’s set a target of merely cutting the deficit in half from 2010 to 2013. But the red ink has quadrupled in one year. Cutting the deficit to still unsustainable levels as the economy recovers is about as challenging as riding a sled downhill.

The one thing Obama is  becoming well known for in his short time in office is breaking many campaign promises and that he is no different from any other politician.  Sorry, I am just the messenger here.  He was doing it before he was elected and there is always an excuse or reason to justify his flip flopping.  His actions have spoken louder than his words.

CJOnline:

He said he would go through the budget line by line and take out wasteful spending. That apparently did not apply to his massive stimulus bill.

Also, he said there was no pork in the bill. Tell me what saving a mouse in Rep. Nancy Pelosi’s district or saving the rail line from Los Angeles to Las Vegas for Sen. Harry Reid have to do with stimulating the economy.

Obama said the people would have a chance to read legislation on the Internet before he signed it. The bill was not even read by him or any member of Congress.

President Obama said his administration would be the most ethical ever. He also said he would not have any lobbyists in his administration.

In the worst recession since the Great Depression, he has decided that we can literally spend our way out with more money.

Washington Post:

The ambitious agenda for the fiscal year that begins in October would not come cheap. This year’s budget deficit, swollen by spending to combat a severe recession, would hit a record $1.75 trillion, or 12.3 percent of the overall economy, under the president’s plan, the highest since 1945. While Obama inherited the bulk of that gap, his budget would make room for a fresh round of spending that could hit $750 billion to prop up troubled financial institutions.

Next year’s deficit would approach $1.2 trillion. But Obama proposes to cut that figure roughly in half by the end of his first term, in large part by levying nearly $1 trillion in new taxes over the next decade on the nation’s highest earners, defined as families with gross income of more than $250,000 a year.

In unveiling the 134-page volume that outlines his spending priorities, Obama acknowledged that his proposal would “add to our deficits in the short term to provide immediate relief to families and get our economy moving.” But he argued that the economic crisis should not be used as an excuse to delay costly investments intended to modernize the nation’s economy, enhance its workforce and, ultimately, reduce government spending.

I didn’t like Bush’s actions because they were wrong and ignorant. Obama seems to be the Democratic version of Bush. Obama may speak more eloquently than Bush, but I see no difference between his actions and his predecessor’s actions. The change he is implementing is even more of the same: which is more deficit spending, more bailouts, and more government. :shock: How is this different from President Bush’s actions in the last 8 years?!

One of the basic things we must do to get this country’s economy back on track is to balance the budget. There are only two ways to do that which is to increase revenues or decrease costs. Obama has set himself up to fail considering he is exponentionally increasing costs on decreasing revenues. The consequences will play out accordingly and I think the Bush-Obama Depression is officially here now.

Jim Rogers assessmentss on the US economy