Today, President-elect Obama held another one of his forthcoming (I know I’m laughing my head off too.) press conferences and announced that the Congressional Budget Head, Peter Orszag, would be his administration’s budget head. But that’s not what caught my attention. After the AP claims that Obama won an electoral landslide victory, it quotes Obama as declaring that he has a “mandate to move the country in a new direction, and not continue the same old practices that have gotten us into the fix we’re in.” If that isn’t enough to cause you to cough up lunch, Obama went further by saying that economic recovery efforts that his administration will be implementing will trump deficit concerns when he takes office in January. Trump deficit concerns?! Spoken like a true liberal Democrat Socialist. So spend away Obama and don’t worry about that little ole future we are hurtling towards.
There is no goal coming from the Obama camp to lower the deficit at all and with the promise to sign into law on Inauguration Day, a $500-$700 billion dollar stimulus package, I’m not seeing any rays of hope for our economic future. And what the hell does he mean by he will either “create or save 2.5 miilion jobs”? Which is it? Are you saving those jobs or creating them – it’s an either/or thing. And how does one measure saved jobs? Perhaps when all jobs are lost but 2.5 million then Obama can claim that he saved them? And then straight out of Obama-la-la land he said, “As soon as the recovery is well under way, we need to set up a long-term plan to reduce the structural deficit and make sure we are not leaving a mountain of debt for the next generation.”
Unless you really are the messiah, Obama, there is no way that you are not leaving the next generation under a mountain of debt. Social Security and Medicare will be gone and the $10+ trillion federal debt will have at least $7.4 trillion more added as promised by the government. You will make it worse and your new economic team which has been on board with all this bailout madness gives me even less hope.
In even better news, the Treasury has now opened it’s own loaning bank to make credit easier to get for school loans and credit cards. Hmm…I’m pretty sure easy credit had a little something to do with our current mess, but hell why just have the non-governmental Federal Reserve Central Bank when the Treasury can have its very own!
And in even better news: Russia has warships off the shores of Venezuela today. Guess those neat little war games they have planned are underway.