It’s time to bash the wealthy! News media love to tell the common people just how rich the top 1 percent are, letting us know what kind of stuff they own and remind us that most of them contribute to [evil] Republicans.
The age of $1 trillion-plus deficits continue. So far the federal government has overspent, resulting in the need to borrow $292 billion in October and November. We’re on track for a $1.75 trillion deficit for the current fiscal year.
Our annual deficit has been running in excess of $1 trillion per year over the last 4 years. Our President has now demanded tax increases of $160 billion per year, from the “rich” to off set that deficit. Read more
Do any of you remember President Obama’s 2008 campaign wherein he called President Bush unpatriotic for the amount of Bush’s annual deficit, and, wherein, he further, pledged to cut that annual deficit in half? Read more
I am amazed that the lights are still on here in the great state of Connecticut. What even amazes me more is that this state after the largest tax increase in history by the Malloy Administration has still resulted in a deficit. Read more
What? Where? How? When? President Obama has been holding out on us, and his deputy campaign manager Stephanie Cutter is stepping onto the MSNBC stage – where else – to let everyone know the solution has been presented and half-way implemented, but nobody is listening.
David Stockman a former U.S. Politician and Businessman served as Republican
Representative from the state of Michigan (1977-1981). He then served as the
Director of the Office of Management and Budget during the Ronald Reagan’s First Term
in Office (1971-1985).
As mentioned in Jim’s Show this morning, Mr. Stockman had some dire warning
regarding the Economy.
This from Wikipedia regarding his Financial Legacy
Fiscal legacy
President Jimmy Carter’s last signed and executed fiscal year budget results ended with a $79.0 billion budget deficit, ending during the period of David Stockman’s and Ronald Reagan’s first year in office, on October 1, 1981.[7] The gross federal national debt had just increased to $1.0 trillion during October 1981 ($998 billion on 30 September 1981). By 30 September 1985, four and a half years into the Reagan administration and shortly after Stockman’s resignation from the OMB during August 1985, the gross federal debt was $1.8 trillion.[8] Stockman’s OMB work within the administration during 1981 until August was dedicated to negotiating with the Senate and House about the next fiscal year’s budget, executed later during the autumn of 1985, which resulted in the national debt becoming $2.1 trillion at fiscal year end 30 September 1986 and becoming $2.6 trillion at fiscal year end 30 September 1988.[9]
As mentioned during today’s show here are some video clips that may just send a chill down your spine.
httpv://youtu.be/6HCOcpyHUic
httpv://youtu.be/sYdGvDj4NqE
It’s open to the public, charges $20 for a trim, netted $450,000 – with a profit – in 2009, and yet somehow this institution needed a Senate-funded bailout of $300,000 last year? Goodness grief, shut the damn institution down.
Take a few minutes today to read Prof. Walter Williams’ current Creators Syndicate column, Economic Chaos Ahead.
Meet the Debt Generation … Generational theft 101.