“What we now have is a very stark choice,” Obama told a group of about 50 donors at a Chicago restaurant called MK. “Under their vision, we can’t invest in roads and bridges and broadband and high-speed rail. I mean, we would be a nation of potholes, and our airports would be worse than places that we thought — that we used to call– the Third World, but who are now investing in infrastructure.” (That’s called spending…)
At an another appearance, Obama said: “The speech I gave yesterday [Wednesday] was not a partisan shot at the other side. It was an attempt to clarify the choice that we have as a country right now.”
“I think it’s fair to say that their vision is radical. No, I don’t think it’s particularly courageous.”
But raising taxes is courageous? That’s what Democrat desperately want to do. So they can spend EVEN more! 😦
Meanwhile, Standard & Poor’s Ratings Service downgraded its outlook Monday on U.S. government debt, expressing unprecedented doubts over the ability of Washington to bring the massive federal budget deficits under control.
The agency lowered the long-term outlook to “Negative” from “Stable,” saying there is a one in three chance the United States could lose its top investment rating on its debt in the next two years.
The International Monetary Fund has just dropped a bombshell, and nobody noticed.
For the first time, the international organization has set a date for the moment when the “Age of America” will end and the U.S. economy will be overtaken by that of China.
The Obama deficit tour
The Wall Street Journal’s Steve Moore critiques the president’s speeches attacking Republican budget plans.
And it’s a lot closer than you may think.
According to the latest IMF official forecasts, China’s economy will surpass that of America in real terms in 2016 — just five years from now.
Put that in your calendar.
And if Obama is re-elected, make it sooner I’d bet. He and the Democrats are incapable of cutting spending. They live to spend money.
It provides a painful context for the budget wrangling taking place in Washington, D.C., right now. It raises enormous questions about what the international security system is going to look like in just a handful of years. And it casts a deepening cloud over both the U.S. dollar and the giant Treasury market, which have been propped up for decades by their privileged status as the liabilities of the world’s hegemonic power.
According to the IMF forecast, whoever is elected U.S. president next year — Obama? Mitt Romney? Donald Trump? — will be the last to preside over the world’s largest economy. (WSJ)
The Visigoths have sacked Rome and the little Nero’s are still fiddling! 😦
If video of angry constituents haranguing members of Congress over healthcare reform captured the tone of that policy debate, Democrats and their allies hope that similar clips will emerge in 2011 to define the coming battle over Medicare and entitlement reform.
Left-leaning groups pushed the idea last week that Americans all over the country are outraged at Republican legislators and have been confronting them at town halls to voice their opposition.
In emails and press statements, Democratic organizations have trumpeted examples of town-hall meetings where Republican legislators were criticized by constituents.
“Even Chairman Ryan’s constituents don’t approve of his plan to deliver tax breaks to the wealthiest Americans while ending Medicare,” the email read. “At a recent town hall in Wisconsin, Chairman Ryan was booed as he defended his budget’s continuation of low taxes for the richest people in our country.” (DC)
The fact this is a lie doesn’t matter. Liberals will say anything to win. The truth is almost never included.
Say or do anything to win.
And the Republicans are still trying to be ‘gentlemanly’ while the Democrats will use doomsday weapons at the drop of a hat–Any Hat. It doesn’t even need to be a hat for them to go all out.
One attendee at a townhall already has the talking point down, “Did you not vote for Paul Ryan’s bill?” the attendee asked. “Well, that is to abolish Medicare and give people some money. It will not be the Medicare that we know.”
So when did you stop beating your wife?
In a town hall event on Wednesday held by Rep. Lou Barletta (R-Pa.), an audience member was removed after she became loud and disruptive.
Moveon.org sent an email to residents in Barletta’s district asking them to attend the congressman’s town hall to “ask the congressman why he voted for a budget that that puts millions of seniors, children, and people with disabilities at risk of losing their health care, so we can give millionaires trillions in tax cuts.”
Meaning let Rome burns and the Democrats will supply the Marshmellows.
It’s not like they care about anything but winning.
Astroturf sales are about to skyrocket!
Meanwhile, the end is nigh. Rejoice.
Liberals hate declaring victory, because “crisis” is the lifeblood of activist government. But when it comes to poverty among the elderly, they really should take a bow.
In 1965, about 30% of seniors lived in poverty. By 2000, that number had fallen to 10%, a two-thirds decline. By 2009, the poverty rate for seniors had risen somewhat (thanks to the recession and financial crisis), but it’s still half the poverty rate for children, and about 20% less than for adults 18-64.
This makes sense: We accumulate education, wealth and property as we age. For that reason, seniors have much higher net wealth than their younger counterparts. But while entitlement programs have undoubtedly helped alleviate poverty among the elderly, they are unsustainable as currently structured.
This is because current tax revenues (from working Americans) pay for today’s retirees, and far fewer working Americans exist relative to retirees than in the old days. In 1950 nearly 17 people worked for every Social Security recipient. In 2009 the number was three. In 2040 it’ll be two.
We’re also collecting benefits much longer than originally anticipated.
Life expectancy for seniors in 1965 was just under 70 years. Now it’s close to 80, meaning that instead of paying for five years of Medicare benefits, Americans pay for 15.
Baby boomers retiring today will receive far more in Medicare benefits than they ever paid in taxes. Researchers at the Urban Institute project that a married 66-year-old couple paid $110,000 in Medicare taxes, but will receive about $340,000 worth of benefits.
So what if paying out 3 times what you put in over the next 20 years is completely unsustainable Liberals don’t care.
Economics bores liberals.
“Armageddon” excites them.
Only when the true armageddon comes, they will not be to blame. They will be as pure as the driven snow, and the news media will say s so over and over again.
FEAR IS HOPE!
FREEDOM IS SLAVERY
IGNORANCE IS STRENGTH
Rejoice citizen, the politicians of both parties are looking out for you…. 🙂