Sunday, June 20, 2010

Only Obama is spending madly

Nearly all states in the Union are slashing budgets, along with countries in Europe and Asia. Only one leader is spending like a half-drunk teenager: Barack Hussein Obama. BBC:

    In a letter to G20 leaders, the US president said that while it was important to put in place "credible plans" to cut deficits, withdrawing economic stimulus early was dangerous.

Even European socialists are finally seeing the light, but not Obama. Der Spiegel:

    Germany, however, is taking the opposite approach. Rather than take on even more debt to ramp up the economy, Chancellor Angela Merkel wants to set an example for Europe on how to cut spending and reduce budget deficits. Her government is currently looking into ways to make significant spending cuts. Many economists in Europe even view deficit and debt reduction as a key precursor to economic growth.

In my view, we need a constitutional amendment banning deficit spending because it's extremely damaging to the country. The spending is so wild, it is the biggest problem facing the country. And don't anyone be fooled into thinking spending is a Democrat problem -- Reagan and Bush spent like there was no tomorrow. Fact is, today is that tomorrow, and we're fucked because of that spending. Imagine if we'd had a budget surplus (a real one, not a fake Washington version) for the last forty years, instead of massive deficit spending. We would be able to get through this recession with ease.

In my opinion, the biggest economic mover is public confidence. When people believe the economy is sound, they spend money -- individuals and corporations -- and that gets everything moving and expanding. When governments are fiscally responsible and take sensible measures to foster growth in the private sector (tax breaks to small businesses, for example), the people feel that things are going in the right direction. Obama is taking the opposite approach. While the entire world is waking up to the dangers of overspending, our president is printing money, selling treasury instruments to Asia, and expanding government as fast as possible.

Here's Obama's plan to cut the deficit, and please don't mistake "deficit" for "debt"; he's only talking about lessening, slightly, the wild overspending. From the BBC story:

    Mr Obama said the US would still aim to halve is own deficit by 2013.

The situation is worse than bad. This country will probably react by re-installing Republicans, and that won't be a solution to the problem. Because politicians are primarily interested in themselves -- their fortunes and re-elections -- handing the keys to a different flavor of thief is laughable.

Hell, football season is right around the corner. I guess the nation can continue to ignore the problem and let the thieving bastards sink the ship.

You may have noticed I went to the UK and Germany to get the most complete information about what Obama is really up to. This is because the US press is 85% supportive of their man, and are not giving the public the information necessary to form opinions.

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