The timing is precious. We are within days of learning the extent of Obama’s Afghan escalation; the banks are sitting on trillions in bailout money; more bailout money may be needed to continue the illusion of their solvency. Where, we ask, will the money for all this come from?
And, finally, the other shoe has dropped.
The Associated Press headline says it all: “Obama eyes domestic spending freeze.”
Well, not quite all. An across the board five percent reduction in domestic spending is waiting in the wings.
Note: there is no mention of cutting military spending. If anything, the domestic cuts and freezes are needed to help fund Obama’s Afghan escalation. However, no mention of this was made in the AP story. That is because our military budget resides in the Ark of the Covenant,, and a curse is laid on all who dare tamper with it.
The fear is that foreigners will stop financing our red ink, and this could prove detrimental to our statistical recovery. The 2009 budget year ended on Sept. 30 with a $1.42 trillion deficit. (Converting dollars to seconds of time, each trillion equals 37,000 years.)
There is some mumbling about raising taxes, but it’s just that. White House budget director Orszag said, “I’m not going to get into the mix between spending and revenues.” The golden rule for any politician who wants to stay in office is, “Cut; don’t tax.”
With every passing day, it is becoming more and more obvious that Obama is simply a Bush lite. The only change we’ve seen coming out of the White House is an increase in articulation.
Bush tried and failed to “reform” Social Security. Could it be…?
People are being turned out of their homes in droves. Unemployment is rising. Retail sales are down. The Fed’s bailouts are inflating another asset bubble. States are being forced to slash their budgets. And in the face of all this Obama has the balls to escalate an unnecessary war while the nation bleeds.
Shakespeare’s Puck said it all: “What fools these mortals be!” Especially if they hold elected office.