Posted by
Bob B on Sunday, March 22, 2009 10:55:38 AM
3/21/09
AIG Bonuses 218M, not 165M ?
CT AG Blumenthal says so.
The Obama budget
Will create the largest spending deficit since WWII, as a percentage of GDP
9.3 trillion in 10 years
This according to the Int’l Herald Tribune/Reuters
Obama’s promise is to reduce the estimated 1.3T deficit he inherited for 2008 to .5T by 2012. Let us take that Obama promise of .5T at the end of 4 years (A) and the Trib/Reuters forecast of 9.3T at the end of 10 years (B). Then let us calculate what would be entailed to get from A to B. Here's the math... .5 to 9.3 is a gain of 8.8 over 6 years, an average of nearly 1.5 per year, or nearly 300% of .5
In plain English an annual increase of nearly triple the 2012 deficit, every year for 6 years
Government to determine how much you can earn ?
Caveat – as I write, this is developing, not a fait accompli. However it comes via Drudge
and according to Drudge from the NYT, both reputable sources.
This is too important and too significant to paraphrase so I quote Drudge
“Obama will call for increased oversight of 'executive pay at all banks, Wall
Street firms and possibly other companies'
Possibly other companies? Possibly other companies!! Is this not the very definition of Mussolinic Fascism, private enterprise but with State control.
London Financial Times likens Obama attack on business to McCarthy witch hunt
Senior executives on both sides of the Atlantic on Friday warned of an exodus of talent from some of the biggest names in US finance, saying the “anti-American” measures smacked of “a McCarthy witch-hunt” that would send the country “back to the stone age”.
Today’s question
There is obviously something suspect about the mathematical conclusion above regarding the budget deficits. Obama’s promise is explicit and specific (though I have rounded it to one decimal place), Reuters forecast is specific and was prepared by the Congressional Budget Office. I believe the math is correct. So exactly what is wrong with this picture? Certainly Obama does not intend to bankrupt the nation, does he?