Contextualizing

Even in the midst of a massive liberal rant some truth will spring forth.

Then it will be “contextualized” later (reinterpreted so it’s not outside of the liberal orthodoxy and the Thought Police don’t haul him away).

MSNBC folks:

Dylan Ratigan, of MSNBC, went on a rant decrying Washington’s economic  plans on Tuesday, castigating Democrats and Republicans alike as  “reckless, irresponsible and stupid.”

     On August 2, lawmakers agreed to raise the U.S.’s $14.3 trillion debt  ceiling and slash $2.4 trillion in spending over the next 10 years.  Since then, credit rating agency Standard & Poor has downgraded the  U.S.’s long-held pristine AAA credit rating to AA+.

     Conversation speculating that Standard & Poor’s decision was  motivated by the fact that the deal covers less than the $4 trillion the  company wanted the U.S. to cut misses the point, Ratigan said.

     “Tens of trillions of dollars are being extracted from the United  States of America. Democrats aren’t doing it, Republicans are not doing  it, an entire integrated system, financial system, trading system,  taxing system, that was created by both parties over a period of two  decades is at work on our entire country right now,” Ratigan said.

“I’m saying we’ve got a real problem…Republicans want to burn the  place to the ground and Democrats who want to offer a plan that gets it  through the next election, the end of the second term of their  presidency and then screws me and my kids when it’s over,” he said.

     “We’re sitting here arguing about whether we should do the $4 trillion  plan that kicks the can down the road for the president for 2017, or  burn the place to the ground, both of which are reckless, irresponsible  and stupid.”

The Democrats only want to get Obama re-elected then after 2016 who gives a crap!? Sounds about right.

While, I don’t think the Republican want to burn the place down, I’m not sure about some who would think it is necessarily bad considering the elite mentality that won the day on the debt deal that was a political solution not an economic one.

Further evidence of this, John Kerry, the Ketchup heiress’s husband and Mr “I voted for it before I voted against it” boat tax evader was named to the so-called Super Committee that will try and figure out how to weasel out of anymore cuts.

Though, they may come up with more cuts in growth like the Debt Deal which are fake cuts made to look real. Real lipstick on a pig time.

A BBC journalist has spoken to two girls that took part in Monday night’s riots in Croydon, who boasted that they were showing police and “the rich” that “we can do what we want”.

http://www.bbc.co.uk/news/uk-14458424

Audio of some rioters telling the reporter that the riots are “conservatives” fault, and that they are rioting to show the rich they can do what they want. This is what years of class-warfare/politics gets you… much like multiculturalism… it divides people and makes them think that they can never grasp at greatness by building and creating. Rather, it teaches people to destroy and to live off others.

When asked why they were attacking “their people” the locals, the little cherubs said they were business people and so they had to be rich…

Now flash back to the Wisconsin Unions in Madison…The guy being beaten in St. Louis by SEIU Union thugs…Tea Party “terrorists”….

Speaking of the SEIU…

A new Quinnipiac poll released today found that 67% of those surveyed felt that any deal to raise the debt ceiling should include tax hikes on the rich.

More voters considered (45%) Obama’s plan to raise revenue closing loopholes than they thought of it as a tax increase (37%), and Americans still haven’t forgotten about those tax hikes for the wealthy and corporations. Over 2/3 (67%) of those polled thought that the debt ceiling deal should include tax increases on the wealthy and corporations along with spending cuts.

Sound I mention Obama had no plan? He made speeches. That is not a plan.

But repeat a lie often enough and it becomes the truth and when you can repeat it 24/7/365 look out!!

But don’t worry, the Liberals won’t cause a meltdown for political “gain” by the stupid,uninformed, and the greedy here like they have in London. 😦

According to a new Quinnipiac poll, 54 percent of those surveyed say Bush is responsible for the “current condition” of the economy, compared to just 27 percent who blame Obama. Among self-described independent voters, a key 2012 voting bloc, the number shifts slightly: 49 percent point the finger at the former GOP president, while 24 percent blame Obama.

The former President is responsible for the 3rd straight Trillion Dollar yearly deficit and $4 trillion in additional debt!!

We’re Doomed!

Nobody in the left-dominated media bothers to note that in the last years of the Bush presidency Democrats controlled the Congress and thus had a death grip on the nation’s economy, having complete control over the nation’s purse strings. They spent and spent and spent the yet-uncollected taxes of future generations — as well as our own — as if there were no tomorrow.

It wasn’t a Bush Congress that jammed the incredible costs of Obamacare down the throats of the American people and their children and grandchildren — it was our spendthrift president and his allies on Capitol Hill doing their classic imitation of the legendary drunken sailors on shore leave.

It’s simply common sense to understand that spending money one doesn’t have in the hopes that the future will provide the needed funds is something like believing that some beneficent tooth fairy will come up with the money in the future.

Now the president and the national Democrat party have suddenly discovered a scapegoat for the latest economic mess they have thrust upon the American people. They insist that the credit-rating downgrade was the fault of the tea party trying to control the nation’s purse strings. I’m not kidding. They really expect us to swallow this whopper as the gospel truth.

They expect us to ignore the fact that the millions of tea party members are simply Americans deeply and sincerely concerned about the nation’s economy and the tendency of the government to spend their hard-earned tax money on whatever scam strikes its fancy.

It’s time to place the blame for our economic malaise where it belongs — on the shoulders of the Obama administration and the Democrats in Congress.

Tea party members have been the voice of reason, not the wild-eyed terrorists portrayed by the left’s crazy spin doctors.

What would have averted the credit-rating downgrade and the subsequent turmoil in the markets? Precisely the spending cuts advocated by the tea party.

According to a statement by Jenny Beth Martin, a co-founder and national coordinator of Tea Party Patriots, the debt-ceiling compromise was full of “accounting tricks and minor ‘cuts’ to spending.” She warns that these so-called cuts do not reduce our national debt. They are simply cuts to future deficit spending.

Rather than prevent a crisis, the debt deal has “already cost us our AAA credit rating,” according to Martin.

In addition, she explains that the tea party was the only organization pushing for the passage of the Full Faith and Credit Act, which would remove the threat of a national default.

A couple of hundred years ago a band of American patriots demonstrated their contempt for a distant Parliament that imposed unjust taxation upon citizens, with no say in the matter, by dumping British-taxed tea in Boston Harbor. It was one of the acts of defiance that helped spark the American Revolution and created a new nation.

Unlike the Boston tea party, today’s today’s tea party membership is nationwide and composed of people from every nook and cranny in this vast nation, but they feel the same determination to display their anger at the depredations of an out-of-control national government that the Boston patriots showed toward a distant monarch who legend tells us could not speak a word of English, preferring instead his native German.

It’s past time for a little tea dumping of our own — the bitter tea brewed by Barack Obama. (Michael Reagan)

The government’s long-term projections, bad as they are, also are based on rosy scenarios for economic growth. If the Obamalaise continues, we could see debt-to-GDP ratios north of 120% — the stuff of banana republics.

But the media will have plenty of riots to create and cover.

After all, it’s not their fault. It’s the Rich, the Tea party, and Business! 😦

Political Cartoons by Dana Summers

Political Cartoons by Nate Beeler

Pivoting Talking Points

The Grand Pivot:

Carol E. Lee of the Wall Street Journal asks White House press secretary Jay Carney about creating jobs and the point of the President’s upcoming bus tour in the Midwest. The White House denies this is a campaign event, instead calling it an “official event.” Transcript from today’s briefing below:

Q Sort of to follow on that, why should Americans believe that the White House can create jobs when the unemployment rate has been so stagnant and the record is sort of anemic?

MR. CARNEY: Well, the White House doesn’t create jobs. The government together — White House, Congress — creates policies that allow for greater job creation. And that can be through tax cuts, for example, for working Americans; everyone who works pays a payroll tax. And the tax cut that this President pushed for, for one year, for this calendar year, he’s pushing for to be extended next year.  (which costs $$ and is an evil “tax cut”)

They can — he can work to do the things that I just talked about, in terms of fuel-efficiency standards or clean energy investments. He very much supports the creation of an infrastructure bank, which has bipartisan support, which would leverage very relatively minimal amount of taxpayer dollars to allow private companies to hire folks to rebuild our infrastructure, which in turn will help create a more solid foundation for economic growth and job creation.

Did he not get the latest pivot memo?

Oh, and by the way, “rebuilding the infrastructure” is another liberal code phrase for SPENDING like drunken morons again. Stimulus “jobs” anyone?

Q And then, lastly, Senator Portman has an op-ed today, and he suggests that every other time the debt ceiling needs to be raised that Congress do a dollar-for-dollar decrease in the reduction of the deficit. Is that something that the White House —

MR. CARNEY: So make permanent the arbitrary connection between Congress simply allowing that the government should pay the bills that it rings up and link that to, again, arbitrary numbers to reduce spending. Again, this is not a related issue. I would suspect that we do not think that would be a good idea or particularly helpful to economic growth or job creation. (RCP)

Yeah, all we want is to raise taxes and spend more. That’ll solve everything! 😦

John Harwood, CNBC: “Do you feel that you or the administration’s policies are in any way responsible for this downgrade?”

Sec. Tim Geithner, U.S. Treasury: “Oh, absolutely not. You see, the President worked incredibly hard in making real incredibly progress trying to heal the damage made by this incredible crisis and you saw him work his heart out to try to bring both parties together to reach an agreement on the long-term fiscal deal. He made some progress, didn’t solve it all. But a down payment [and] very strong bipartisan support for that down payment and we got a lot of work still to do.”

Talk about being stuck in a myopic ideological mindset.

It appears the new Democratic talking point on Friday’s S&P downgrade of the U.S. credit rating is to blame on the tea party, by referring to it as a “tea party downgrade.”

On CBS’ “Face the Nation,” Axelrod explained his interpretation of the downgrade. He argued it had more to do with the country’s politics and less to do with its finances.

Yeah,it’s not us, it’s the Tea Party’s fault 😦

It’s not me, it the other guy, he’s an asshole!

“Both political parties are responsible for the mess we have right now,” said Rep. Paul Ryan (R-Wisconsin) said on Fox News Sunday. “This is not a Republican or Democrat only problem. This is both parties got us to where we are.”

Bu they don’t want to do what’s really necessary because it’s bad politics.

Standard & Poor’s cited “difficulties in bridging the gulf between political parties” as a major reason for the downgrade to AA+, the next level down from AAA. The rating agency has essentially lost faith in Washington’s ability to work together to address its debt.

Gee, I wonder why? 😮

“The action by S&P reaffirms the need for a balanced approach to deficit reduction that combines spending cuts with revenue-raising measures like closing taxpayer-funded giveaways to billionaires, oil companies and corporate jet owners,” <Senate Majority Leader> Reid said.

Gee I wonder why that is? 🙂

They probably have inedible Talking Points stuck in their teeth.

“Let’s do it in a way that is fair to everyone so that the wealthiest Americans are kicking in as well as the middle class and everyone else in the country.”– Axelrod

Yeah, the wealthiest Americans pay the majority of taxes and 47% of  Americans (primarily those “middle class”) pay no taxes whatsoever. So how is that “kicking in”??

A new Rasmussen Reports national telephone survey finds that just 17% of Likely U.S. Voters think the federal government today has the consent of the governed.  Sixty-nine percent (69%) believe the government does not have that consent. Fourteen percent (14%) are undecided.

So we need to vote like it.

But in fairness, one also has to remember S&P missed the whole Mortgage Securities  mess so they aren’t holy either.

There are no angels in these foxholes.

But we, the citizens are the ones being run across the political minefields.

Political Cartoons by Bob Gorrell

 

Cause & Effect

What caused the United States to lose its AAA rating for the first time in 94 years, a rating that withstood two world wars, the Great Depression and (most of) the Great Recession, and a costly military buildup that bankrupted and demolished our Cold War foe, the Soviet Union, without a direct shot fired?  Was it the dastardly Tea Party, with its demands for fiscal sanity and a solution to an oncoming tsunami of entitlement liabilities?  According to the man who rates sovereign debt for the agency that downgraded the US, not really:

The head of Standard & Poor’s sovereign ratings, David Beers told “Fox News Sunday” he did not expect “that much impact” when global markets open on Monday due to what he called a “mild deterioration” in the U.S. credit standing to AA-plus from top-tier AAA. …

He also said the downgrade announced on Friday was not due to the budget positions of any political party and that on any future agreement, “We think credibility would mean any agreement would command support from both political parties.”

So a lack of consensus was part of the problem for S&P.  But consensus about what?

Beers called the U.S. Treasury Department’s criticism of the credit rating agency’s analysis a “complete misrepresentation.” Even with the debt limit agreement passed by Congress, he said, “the underlying debt burden of the U.S. is rising and will continue to rise over the next decade.”

Actually, the Tea Party caucus in Congress had it right.  The bond raters needed to see the US take a significant step towards ending deficit spending and getting future liabilities under control.  The problem with the lack of consensus came from the resistance of Democrats to the fiscal realities of the situation we face.  Instead of addressing the real problems, Democrats blocked any attempt to deal with the entitlement crises and would only agree to address discretionary spending.

I mentioned this as an aside in my earlier post, but it bears repeating here.  Republicans cut the only deal they could get without control of the Senate and the White House.  Had they refused to take that deal, then S&P and likely Moody’s would have lowered the rating on Wednesday, and Republicans would be taking the blame.  Instead, this clearly shows that Democratic refusals to deal rationally with the entitlement crises are the reason for the decline in confidence in the US.

Call it a clarifying moment.  Discretionary spending was and is a sideshow to what concerns rational investors.  We could eliminate every cent of discretionary spending — defense, homeland security, education, welfare — and we’d still be adding $300-400 billion a year to our deficit through fixed entitlement spending.

Want to see why it’s the debt and not the taxes, Tea Party, or Congressional tiddlywinks?  Heritage’s chart showing the growing bite from entitlements in the future demonstrates the problem quite clearly:

As for the political elements of the downgrade, they’re real — but it’s not the politics of the Tea Party that are the problem.  To follow up my point in my previous post, note well how ObamaCare’s “entitlement reform” impacts the problem and “bends the cost curve.”  The invariable end is a massive amount of liabilities that a free economy cannot possibly honor.

Janet Daley draws the proper conclusions, writing that both Europe and the US are currently proving that nanny-state structures cannot coexist with free economies in the long run.  Inevitably, people have to choose between the command economies required by burdensome entitlement programs or free economies and personal responsibility:

We have arrived at the endgame of what was an untenable doctrine: to pay for the kind of entitlements that populations have been led to expect by their politicians, the wealth-creating sector has to be taxed to a degree that makes it almost impossible for it to create the wealth that is needed to pay for the entitlements that populations have been led to expect, etc, etc.

The only way that state benefit programmes could be extended in the ways that are forecast for Europe’s ageing population would be by government seizing all the levers of the economy and producing as much (externally) worthless currency as was needed – in the manner of the old Soviet Union.

That is the problem. So profound is its challenge to the received wisdom of postwar Western democratic life that it is unutterable in the EU circles in which the crucial decisions are being made – or rather, not being made. …

We have been pretending – with ever more manic protestations – that this could go on for ever. Even when it became clear that European state pensions (and the US social security system) were gigantic Ponzi schemes in which the present beneficiaries were spending the money of the current generation of contributors, and that health provision was creating impossible demands on tax revenue, and that benefit dependency was becoming a substitute for wealth-creating employment, the lesson would not be learnt. We have been living on tick and wishful thinking.

And Daley hits the nail on the head over who exactly has been irrational and radical in this debate:

The hardest obstacle to overcome will be the idea that anyone who challenges the prevailing consensus of the past 50 years is irrational and irresponsible. That is what is being said about the Tea Partiers. In fact, what is irrational and irresponsible is the assumption that we can go on as we are.

Exactly — and that’s exactly the point S&P made with its downgrade.

Update: If we don’t stabilize and reduce our long-term liabilities soon, we’ll get downgraded again, says S&P:

The credit rating agency’s managing director, John Chambers, tells ABC’s “This Week” that if the fiscal position of the U.S. deteriorates further, or if political gridlock tightens even more, a further downgrade is possible.

Chambers also said Sunday that it would take “stabilization and eventual decline” of the federal debt as a share of the economy as well as more consensus in Washington for the U.S. to win back a top rating.

He puts the odds of another downgrade at 3:1.  I’d call it even money, at least while Democrats continue to blame the Tea Party for, er, wanting to do exactly what S&P demands. (Hot air.com)

That or George Bush…oh, and now they are the “victim” of S&P. That’s always the best way to take responsibility for your screw-ups and learn from them… 😦

 

Pissed off!

I am so Pissed off right now I think I could chew through adamantium!

The first downgrade in America’s credit rating happened at the last second of the business week yesterday and you know that both parties, but most especially the Democrats are strategizing on who to blame (the other guy) for this turn of events that could easy hurt every single american alive and to come.

They aren’t really worried about doing anything substantial about the problem that led to this. They are all on holiday after successfully managing to fix the political problem they got themselves into. That was the “debt deal” made on Tuesday.

They just don’t have the maturity or the political will do deal with the ACTUAL problem.

And the Democrats and their Media apparatchiks are already denying it’s anyone’s fault but theirs.

And the Republican haven’t got the balls to deal with it. They caved last week.

So the Titanic has now struck the iceberg that was in full F*cking View. But it’s not their fault!

It’s the Rightwingers!

It’s The Left Wingers!

It’s The Tea partiers!

It’s Bush’s Fault!

And the American people are just as immature. They can’t handle the truth either.

And the ones that can, they’ll be to blame for it because they bring it up.

Ignorance is Strength! Ignorance is Bliss!

And “The Other guy” Is an Asshole!

And above all, it doesn’t “feel” right!

AAAAARRRRGGGHHH!!

The self-delusions and the hyper-partisanship is so out of control I’m not sure there is any hope left.

Obama and his policies can’t possibly be to blame. After all, as the Left maintains all the Spending he’s done is because of all of Bush’s Spending!

It can’t possibly be their fault!

And not enough Republicans own up to the problem either.

So ultimately, the people who are yelling “It’s the Iceberg Stupid!” are going to be to blame as the ship of state sinks and takes everyone with them.

And the idiot sheep will believe them.

AND THAT PISSES ME OFF!

The ratings action immediately fueled partisan wrangling Friday night. Allies to President Obama said it underscored his call for a “grand bargain” that would trim $4 trillion from the federal budget involving a mix of tax revenue and spending cuts.

Do now the Republicans will be blamed for it because they didn’t heed President Obama’s call for a “grand bargain” and the Liberal Media will beat us to death with this Talking Point.

Only problem is, there was a “grand bargain” on the table (actually two if you count the Ryan Budget) but the Democrats demagogued it as trying to throw “grandma off a cliff” and trying to “kill Medicare” and “well, if we don’t have more revenue we won’t be able to pay Social Security and Medicare” and all the other extortions they trotted out.

So it was the Republican’s fault for proposing a grand bargain, then after the downgrade it was the Republicans fault for agreeing to Obama’s version of it (which he never actually proposed by the way- speeches are not legislation).

So we’re all damned if we do and damned if we don’t. But at least it’s not anyone’s fault!

In short, the Democrats will blame the Republicans for the downgrade for not agreeing to the “grand bargain” THEY REFUSED to even vote on or consider!

And the Liberal media will trumpet this to the highest.

And stupid people with very short memories will buy it!

And the Republican will whine and complain. But no one, certainly no one in the Liberal Media will care about the Actual Truth.

And certainly not CUT SPENDING!

They’ll only care about the politics of it all!

The Drug Addicts just OD’d and we all get hammered.

Mind you, Standard & Poors itself is far for Lilly white and godly since they refused to deal with the fake credit run (Fannie and Freddie and Co.) up that led to all this.

So everyone is to blame, but no one will take it. No one is mature enough to face reality.

It will be given to those who pointed it out — The Tea Party.

And everyone will vent on them.

And it will “feel” good.

Meanwhile, the ship continues to sink.

4/19/11: Treasury Secretary Tim Geithner said Tuesday there is “no risk” the U.S. will lose its top credit rating amid a new analysis that revised its outlook on American debt to “negative.”

Well, as usual, Turbo Tax was wrong. But don’t expect the liberal to remember. Hell, they can’t even remember Obama’s Civility Speech in Tucson 7 months ago when they call people who disagree with them “terrorists”.

So let the Blame game commence!

And everyone will argue that the house is on fire but they are not to blame and no one is going to do anything real about it. But at least it won’t be their fault!

So get ready for the Solution: Spend More and TAX everyone more!

After all, it’s Bush’s Fault! 🙂

“If you want a vision of the future, imagine a boot stamping on a
human face – forever.”–George Orwell

Welcome to Hell.

Political Cartoons by Steve Kelley

Political Cartoons by Henry Payne

Political Cartoons by Bob Gorrell

Political Cartoons by Henry Payne

Political Cartoons by Glenn McCoy

 


The Little Neros

“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! 😦

Astroturf 2011-2012

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…. 🙂



Recession 2 “Summer of Recovery” 0

“We are going to take on the barbarism of war, the decadence of racism, and the scourge of poverty, that the Ku Klux — I meant to say the Tea Party,” The Rev. Walter Fauntroy told a news conference today at the National Press Club. “You all forgive me, but I — you have to use them interchangeably.”

But don’t worry, if you disagree with a Liberal you’re the hyperbolic racist! 🙂

*************************************************

Political Cartoons by Michael Ramirez

The government is about to confirm what many people have felt for some time: The economy barely has a pulse.

The Commerce Department on Friday will revise its estimate for economic growth in the April-to-June period and Wall Street economists forecast it will be cut almost in half, to a 1.4 percent annual rate from 2.4 percent.

That’s a sharp slowdown from the first quarter, when the economy grew at a 3.7 percent annual rate, and economists say it’s a taste of the weakness to come. The current quarter isn’t expected to be much better, with many economists forecasting growth of only 1.7 percent.

Such slow growth won’t feel much like an economic recovery and won’t lead to much hiring. The unemployment rate, now at 9.5 percent, could even rise by the end of the year.

“The economy is going to limp along for the next few months,” said Gus Faucher, an economist at Moody’s Analytics. There’s even a one in three chance it could slip back into recession, he said.

The report confirms the economy has lost significant momentum in recent months. Most analysts expect the nation’s GDP will continue to grow at a similarly weak pace in the current July-to-September quarter and for the rest of this year.

The economy has grown for four straight quarters, but that growth has averaged only 2.9 percent, a weak pace after such a steep recession. The economy needs to expand at about 3 percent just to keep the unemployment rate, currently 9.5 percent, from rising.

According to data released earlier this week, home prices fell as much as five percent across the country in the month of July, and existing home sales fell 27%.

The worst in 15 years.

But if you listen to the liberals and their pundits, it slow but it’s all good. You just to have more hope. Give it more time. Don’t be so impatient.

So what if GDP growth has gone for 5% in the last quarter of 2009 to 1.6% now it’s still improving! 🙂

And you wouldn’t to hand the keys back over to Bush now would you!

After all, Bush was Republican and all Republicans are Bush. (a gold star to anyone who can spot the logical fallacy in that statement 🙂 ) But isn’t that what the Democrats ARE saying…

Cue Sisyphus! 🙂

Will the economy actually enter a double dip, with G.D.P. shrinking? Who cares? If unemployment rises for the rest of this year, which seems likely, it won’t matter whether the G.D.P. numbers are slightly positive or slightly negative.

All of this is obvious. Yet policy makers are in denial. Why are people who know better sugar-coating economic reality? The answer, I’m sorry to say, is that it’s all about evading responsibility.(Paul Krugman)

After all, it’s Bush’s Fault! and you wouldn’t want <cue evil organ music> Republicans! they’ll just wreck the car again like they did before! 🙂

After all, Bush was Republican and all Republicans are Bush.

And as Mr Krugman also says, showing his liberal roots,”The administration has less freedom of action, since it can’t get legislation past the Republican blockade.”

The Democrats currently have an overwhelming majority in the House and 59/100 seats in the Senate and The Presidency.

Yet, it’s a “republican blockade”.

The problem is that the Democrats can’t get all the Democrats to vote for all of this crap so they have to blame the minority party for it!

It sure as hell can’t possibly be their fault! 🙂

So, if November happens as predicted and the Democrats are the minority, it will be the tyranny of the majority then right? 🙂 They will be the victims yet again, as they are now in the majority. 🙂

Perpetual Victimization!

But the Democrats will focus again on the 1 tree in the forest that isn’t on fire and say that’s you’re hope and change, just be patient, socialism wasn’t built in a day! 🙂

On Thursday, Standard & Poor’s said action is needed soon if the U.S. is to keep the much-coveted AAA bond rating that lets the government borrow in global markets at the lowest rates possible.

S&P’s warning came just days after Morgan Stanley asserted that the U.S., along with a number of other developed nations, is likely to default on some debt. Such defaults are “inevitable,” it said, given the growing number of retirees in developed nations who will have to be taken care of by a shrinking pool of workers.

The sovereign debt crisis “is not over,” said the investment bank’s Arnaud Mares, and that includes in the U.S.

What worries Wall Street is a public debt-to-GDP ratio of around 53%. That’s high enough as it is, but it’s about to go a lot higher. By 2020, recent data suggest, the ratio will top 100% — a red line that virtually all economists agree is dangerous.

In raw numbers, we owed roughly $7.5 trillion at the start of this year. By 2020 that explodes to $23.5 trillion, according to an analysis of Congressional Budget Office data by economist Brian Riedl.

What do these numbers mean? To begin with, we spend $187 billion a year, or 1.3% of GDP, to pay our debts now. Just 10 years from now, that will surge to $1.1 trillion, or 4.8% of estimated GDP. Fiscally speaking, we’ll be gasping for air.

Debt can be a good thing, but in big doses it’s poison. If, as some fear, the U.S. should simply say it can’t pay its debts and default — or do a de facto default by printing money to retire our debt — the consequences would be dire.

No nation would want our bonds in their portfolios. To entice them to buy, we’d have to offer a much higher risk premium — that is, higher interest rates.

That means our debt service could go even higher, squeezing out even more of our economy’s spending.

The dollar would implode, and prices for foreign goods — which now make up 15% of our economy — would soar. Private investment would shrink and, along with it, private-sector GDP

Americans’ standard of living, once the envy of the world, would recede into the pack of mediocre, government-run nations.

It doesn’t have to be this way. All this is due to unrestrained spending. The federal government now spends about $29,000 per household. That will rise to $38,000 by 2020. If you think “the rich” will, or can, pay for it all, think again.

Unless we begin to control spending, we can kiss our American lifestyles goodbye. It’s that simple.

Sadly, the White House is unwilling to see reality. Which may explain why, as our debts mount to ruinous heights, Vice President Joe Biden — President Obama’s point man on the recovery — can burble, “This is a chance to do something big, man!”

Yeah, man, something big — like wreck a country.

Warnings about America’s impending financial car wreck are being sounded, loud and clear. The only question is whether those driving the car will slam on the brakes before it’s too late.(IBD)

Got the car out of the ditch and drove it straight off a cliff and into a bottomless pit!

Way to go Barack & Co!

Yours is the Superior Intellect! 🙂