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June 22, 2011
Behold The Genius Of Democrats: They Want MORE Spending As Part Of The Debt Reduction Deal ADDED: Bonus DOOM!
When all you have is a hammer, every problem looks like an opportunity to spend money we don't have.
Democrats' demand for new stimulus spending is at odds with the work of negotiators, led by Vice President Joe Biden, who are trying to find trillions of dollars in savings as part of a deal that would allow Congress to sign off on new government borrowing before the U.S. runs out of money to pay its bills.
Many Republicans? If only there were some way to demonstrate the so-called "stimulus" was failure under the terms laid out by Obama himself. Perhaps if it were done graphically, it would look something like this.
It's almost as if Democrats are idiots and don't quite get it. Of course they really believe this and think it's an economic and political winner for them. So, good luck with all of that.
Meanwhile, the Federal Reserve announced today there's no way in hell Obama is going to be reelected next year (I'm paraphrasing there).
According to the Fedís economic projections, unemployment will take longer to come down than forecast in April, hitting 7.8 to 8.2 percent at the end of 2012, rather than 7.6 to 7.9 percent.
What's that word again? Oh right....DOOM.
Oh, I forgot to mention the CBO has a report out today on the size of the debt. Basic take away....we are in a word...SCREWED.
Within 10 years, debt will exceed 100% of GDP. By 2037, it would be more than double the size of the economy.
Want more? Sure! There's always room for more DOOM!
What did the so-called "stimulus" get us, oh not much.
According to CBO projections, before Obamaís stimulus became law, federal debt equaled 36 percent of GDP and was projected to decline slightly over the next few years. Instead, thanks in large part to the stimulus, debt reached 62 percent of GDP by 2010.
You can argue whether or not Obama and the Democrats set out to destroy America, the simple fact is they have.
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