Big Dogs House

Obama Lectures On Fiscal Responsibility Then Spends Too Much

Feb 4, 2010 Political

Barack Obama ticked off the people of Las Vegas for a second time when he said that people could not just go to Vegas and blow a bunch of money. Of course, the money is yours (though he might see it differently) and what you do with it is your business. But, if you are blowing your money in Vegas or anywhere else you should not be looking for a government handout. Obama’s latest economic advice is:

“When times are tough, you tighten your belts.”

“You don’t go buying a boat when you can barely pay your mortgage….”

“You don’t blow a bunch of cash on Vegas when you’re trying to save for college.” Charlie Foxtrot

I do not disagree with any of that but if you decide not to tighten your belt, to buy a boat or to blow your money in Vegas it is your business. Just don’t ask the taxpayer to pay for your lack of fiscal prudence.

The hilarity of all this is that Obama, while admonishing people and extolling the virtues of fiscal responsibility, submitted a budget that increases spending by 36% and runs a huge deficit.

Obama doubled the deficit in his first year (Dick Morris explains how it is not all Bush’s fault) and will increase the deficit by even more with his out of control spending.

In other words Mr. Obama, you can’t spend money you don’t have if you really want to decrease the deficit.

It is amazing that Obama had the nerve to dispense economic advice while doing the opposite of what he preached.

My wife and I have a balanced household budget. We spend less than we make and put the rest into savings and retirement. This was not always the case as I can remember the days when I made $600 a month as a private in the Army while trying to support my family. There were plenty of months where we had three days of food and five days until payday.

We did without and were prudent with our money and now we are in positions where we earn enough to pay our bills and save. We did this by doing without. We lived (and continue to live) within our means.

Barack Obama should try running his budget the way we run ours and the government would be better off. Do without the things that are not necessary. Cut programs (particularly redundant ones) and spend less.

But then again it is always easier to spend when it is someone else’s money.

As long as we taxpayers allow those in government to extort money from us they will continue to spend like there is no tomorrow.

And if they keep it up there will be no tomorrow.

Others:
Did We Just Get Lectured on Fiscal Responsibility By the Guy With the $1.6 Trillion Budget Deficit? [Hot Air]

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Tags: economy, hypocrite, Obama, spending, vegas

What A Difference A Year Makes

Dec 11, 2009 Political

It has been a year since Barack Obama won the national election by a pretty good margin by running on his I am not Bush and Hope and Change platform. People were thrilled with him. Blacks were able to ignore his shortcomings and vote for him because he is a Democrat and he is black and the youth were able to vote for him because he promised to give them everything.

The shininess has worn off Obama and now that the newness has worn off people are able to see that he is nothing more than a typical politician. He promised transparency but has not been transparent about very much. Health care is debated behind closed doors and not on CSPAN as he promised. His personal records are locked up tighter than a gnat’s behind and he has followed many of the things that George W. Bush did, much to the displeasure of his base.

Obama is a man child who is trying to do a job for which he is unqualified and lacks experience to do. He is doing that job the Chicago way and turning DC into a bigger thug infested rat’s nest than it was before he arrived.

Any wonder why some folks are beginning to express displeasure and wishing that Bush were still president? A new poll shows that 44% of respondents wish Bush were still president.

Perhaps the greatest measure of Obama’s declining support is that just 50% of voters now say they prefer having him as President to George W. Bush, with 44% saying they’d rather have his predecessor. Given the horrendous approval ratings Bush showed during his final term that’s somewhat of a surprise and an indication that voters are increasingly placing the blame on Obama for the country’s difficulties instead of giving him space because of the tough situation he inherited. The closeness in the Obama/Bush numbers also has implications for the 2010 elections. Using the Bush card may not be particularly effective for Democrats anymore, which is good news generally for Republicans and especially ones like Rob Portman who are running for office and have close ties to the former President.

Given that the Democrats were in charge of the nation when it went to hell (don’t fall for the “Republicans were in charge when things went bad” meme) and that they were responsible for ignoring the warning signs it is no wonder that people long for the days when the adults were in charge.

This number will get larger once inflation arrives and the economy fails to make any real improvement. The elections of 2010 are 11 months away but it is not looking good for the party that has been in power for the last three years.

Stubborn Facts has posters of who we really miss.

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Tags: Bush, Democrats, economy, inflation, miss me yet, Obama

On Economics, He Knows Not What He Does

Sep 7, 2009 Political

BHO, our “Beloved” Resident, has been tinkering with the economy, and like a child who doesn’t know when to step away from his finger-painting, has been producing mud, instead of something we might want to put on the refrigerator with magnets.

His biggest problem is total ignorance of life in general, and the lessons of the Great Depression in particular. That would be OK if only he had advisors who were steeped in real- world economics, but instead, he chose to surround himself with cronies who believe as he does, a dangerous thing if you are trying to run a country, especially a country in economic trouble.

Now, because he has been listening to the wrong people, and also because he chose to string this crisis along, so people would have their attention diverted, and he could (hopefully) push through pet causes while we were distracted, we could be looking at another Great Depression, one that reduces our capacity as a country to respond to the world’s needs.

This is not good, and only serves to point out the ineptness of this administration.

There are “troubling similarities” between the US President’s actions since taking office and those which in the 1930s sent the US and much of the world spiralling into the worst economic collapse in recorded history, says the new pamphlet, published by the Institute of Economic Affairs.

In particular, the authors, economists Charles Rowley of George Mason University and Nathanael Smith of the Locke Institute, claim that the White House’s plans to pour hundreds of billions of dollars of cash into the economy will undermine it in the long run. They say that by employing deficit spending and increased state intervention President Obama will ultimately hamper the long-term growth potential of the US economy and may risk delaying full economic recovery by several years.

telegraph.co.uk

Too true- but then one asks the question, “Is this intentional?” I mean, if you take Rahm Emanuel at his word, where he states to “Never waste a crisis”, you have to ask yourself if the “crisis” is being extended artificially merely to push through more of an agenda than the people would freely accept. If so, then this administration is deceptive at best, and treasonous at worst, allowing the people they are supposedly “governing” to suffer needlessly.

The paper, which recommends that the US return to a more laissez-faire economic system rather than intervening further in activity, has been endorsed by Nobel laureate James Buchanan, who said: “We have learned some things from comparable experiences of the 1930s’ Great Depression, perhaps enough to reduce the severity of the current contraction. But we have made no progress toward putting limits on political leaders, who act out their natural proclivities without any basic understanding of what makes capitalism work.”

telegraph.co.uk

Bingo! An economist who gets it- not some Krugman poseur economist wannabe, who just happened to get a prize for “showing up”- rather than for real world economic theory. Hussein’s administration, rather than listening to Soros and his ilk, (and yes, he is part of an ilk), should be listening to economists who know what they are talking about- that’s always a good start.

The policy responses to the debt bubble demonstrate crude political consideration rather than economic understanding. If excessive government indebtedness is a major source of the problem, why increase the government debt? Why encourage households to go yet further into debt?

The prognosis is catastrophic if projected government policies are not cut back. According to the White House’s own estimates, the federal budget deficit in 2009 will be $1.6 trillion, approximately 11.2pc of the overall economy, the highest on record since the end of the Second World War. In 2019, the national debt will represent 76.5pc of the US national economy, the highest proportion since just after the Second World War. In such circumstances, the international reserve status of the US dollar will not survive. As it fades, so interest rates on government securities will rise and the real burden of servicing the debt will increase. In such circumstances, the US economy will teeter on the edge of a black hole.

telegraph.co.uk

We are already there, and  falling fast- what this administration has done has not helped, but rather pushed, or as one of the Residents really great “advisors”, or Czars, Cass Sunstein, has said, describing his technique of “social engineering”- “nudged” us towards the precipice. 

Prosperity and full employment in the US will only be restored by a return to laissez-faire capitalism. Our study outlines a radical, but politically feasible, approach. Monetary policy should be expansionary. But, on the micro-economic side, tariffs and other trade barriers should be repealed unilaterally; a “Right-to-Work” Act should reduce the minimum wage and curtail the powers of unions; and business regulation should be reduced. Individual banks and their counterparties should not be bailed out, although the system should be protected by ensuring that failing banks are wound up in an orderly fashion – this is the only way to restore market discipline.

telegraph.co.uk

This administration should listen to these people- they actually make sense, rather than the “Looking Glass” theorists there are now. Quit naming “Czars”, and start learning how to govern- something that has been remarkably lacking from your agenda until now. Yes- I know that this will really piss off your “base”, but most of them can be placated with just a slight increase in their meds. 

Do it, do it now, do it for your country.

And quit listening to those idiots.

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Tags: crisis, economy, idiocy, reason, Soros

Obama Lied, The Economy Died

Jul 23, 2009 Political

Fresh off Blake’s post about Obama lying and your family dying because of rationed health care, I have decided to post about Barack Obama and his lies that have killed the economy.

After he took the oath of office, Barack Obama set out to tackle the economy or at least that is what he wants you to think. In reality he gave the Democrats in Congress free reign to write the stimulus package. He ignored Republican input and told America that we needed to pass this right now or we would go into a spiral that we might not come out of. The final bill, which was opposed by every Republican in the House, was loaded with pork (more than the 380 TONS of pork the bill actually bought) and it was loaded with the Democrat’s pet projects, the ones they have been dreaming of. One thing not in the bill was anything that stimulated the economy.

Obama told us that within 14 days of the bill there would be shovels hitting the ground. Then when that did not happen he said it was to be expected because there were a lot of things that needed to be planned before the shovels could actually begin hitting the ground.

Obama told us that unemployment would peak at 8% and then back off if we passed the bill but not passing it would cause unemployment to hit 10%. We passed it and unemployment is nearly 10%. Joe Biden recently admitted that they underestimated the crisis. Then he and Obama told us that the stimulus was working exactly as planned and that they never intended for there to be immediate results. No, the stimulus will produce results about 16 months down the road and all we have to do is trust them because we are on track.

Unfortunately, Obama told us that we would see immediate results. He said that this would create or save (you cannot measure a saved job) 3 million jobs. Since that time we have lost 3 million jobs which is a 6 million swing. In other words, we are 6 million away from where Obama said we would be.

Obama lied to us. He fabricated all of these things to force through the bill full of pork (another thing he promised to get rid of) and pet projects that had little, if anything, to do with stimulating the economy. This was a power grab that was passed because Obama lied.

There is no doubt. Barack Obama lied to us to get his stimulus passed. He ignored many experts and he ignored Republicans who gave him alternate ideas (he ignored them after he said he would listen to all ideas – another lie) and he ignored historical evidence that increasing spending in an economic downturn was the wrong thing to do. He ignored the examples of Ronald Reagan and John Kennedy, both of whom lowered taxes to get out of their recessions. He told us one thing but his goal was quite another.

Obama lied and the economy died.

Let us not forget that for 7 years the left accused George Bush of lying about WMD. They accused him of fabricating evidence, manipulating reports and making the case for an invasion that was full of lies. The left told us that George Bush lied to us and that he did it because he wanted to go to war in Iraq.

I submit that Barack Obama lied to us about the economy and he fabricated stories about impending disaster in order to quickly pass a bill full of pay offs to his special interest groups. He allowed tons of pork while lying about what the bill would really do and how quickly it would be done.

Obama is a liar. He lied about the stimulus to get it passed.

Obama lied, the economy died.

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Tags: economy, obama lies, stimulus

Obama Loses Sleep

Jun 17, 2009 Political

Barack Obama says he loses sleep worrying about the massive US debt. Perhaps he should have been worried about it before he spent a fortune on a plan that has provided little in the way of results. Obama is now saying we have to be responsible but that unemployment will reach 10%. That would be 2% higher than he predicted but he insists things are turning around.

Not as far as I can see.

Perhaps Obama is losing sleep because all his poll numbers except his popularity are tanking. Perhaps he is beginning to realize that his actions were wrong and that running headfirst into a wall was not a smart thing to do. Maybe he is beginning to see that what he is doing might cost him seats in 2010 and his job in 2012.

Bill Maher expressed his dissatisfaction with Obama. If Obama is losing libs like this guy the end might be near.

Even his supporters are beginning to think he is a failure.

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Tags: debt, economy, maher, Obama, sleep, unemployment