Friday - February 27, 2009

Oh Dear, Oh Dear .. Is a Brit paper questioning policy set by The One? Looks like it.

I am hopeless when it comes to anything involving maths simple or otherwise.  In fact, math has always belonged to the “otherwise” category as far as I have been concerned.  Some folks are like that.  Brother was a whiz at math but had trouble learning to read when young. How’s that happen?

So then, while I may be more then awkward when it comes to math and it should go without saying, economics as well, even I have wondered how one can spend their way OUT OF DEBT.  I really don’t understand the theory of that at all and wish someone, anyone, could explain it to me in easy to understand language.

I recall once (ok it was 2wice because I didn’t learn the first time) I tried spending our way out of debt and into prosperity. Didn’t work too well. Actually, it didn’t work at all but then I wasn’t a government spending YOUR money.  I’m certain if ALL of you folks had been willing to send me a small sum of say, oh .... a thousand dollars?  I might have made it work.  With your money. Didn’t work with mine.

So then ... here ya go.
ECONOMICS 101 as taught by Professor The One. Who knows all things. 

Oh boy, wouldn’t it be a gas if he actually did?  I mean think about it even if painful.  What if he manages to succeed with this plan?
Nah ... Can’t happen, can it?

Can Barack Obama spare a dime?
If the President is to keep his promises, his mathematics will need to be even better than his rhetoric.

Telegraph View

Barack Obama’s language and confidence are meant to be infectious. When the President says he knows that helping banks is unpopular, we want to believe him. “I promise you – I get it,” he told a joint session of Congress this week. It stands in contrast to the clunking insincerity of George Bush Sr when he notoriously told voters in 1992: “Message: I care.”

For his oratory, President Obama continues to score well; and the recent mandate from the American people gives him an advantage over other world leaders in wrestling with the economic crisis. Americans desperately want their new president to succeed. We all do.

But the budget plans released yesterday are eye-watering. The US deficit for the fiscal year that ends in September is projected to be $1.75 trillion. Much of that is derived from the stimulus package designed to fix the economy. However, Mr Obama is also following up on pledges to expand healthcare and spending in numerous other areas, amounting to a dramatic change in the parameters of federal government as understood by most Americans.

After this year, the deficit is set to come down, in part through higher taxes. But there the numbers invite scrutiny. “If your family earns less than $250,000 a year, you will not see your taxes increased a single dime,” the President said. It is difficult to see how that will not come to haunt the White House as much as that other famous Bush Sr blunder: “Read my lips: no new taxes”. President Obama will be a mathematical genius indeed if he can pay for his plans without increasing taxes on large numbers of the potential wealth creators he has promised not to hit.

They might soon be listening to that flowing, beautiful rhetoric with mounting cynicism.

LINK FOR STORY

Posted by peiper     on 02/27/2009 at 05:41 AM   
Filed Under: • Democrats-Liberals-Moonbat Leftists • Economics •  
• Comments (2) • Trackbacks(0)  Permalink •  

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