Obama Admit Keynesian Borrow-Spend “STIMULUS” is a HOAX

8/8/2019 Obama Admit Keynesian Borrow-Spend STIMULUS is a HOAX

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YOUR National Deficit Commission hard at work on your

behalf---REALLY??


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Yup,

The REALnational debt

is $202Trillions .Said Dr. Laurence J. Kotlikoff , professor of economics at Boston University. .

http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4

==
http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4


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The Obamas: Sacrifice is for thelittle people--- like you ---the TAXPAYERS!

LalalaWERE IN THE MONEY, WERE IN THE MONEYLa..la..la La.LaLa La,,,,,,,,,,,,,La ---La----La-- WERE IN THEMONEY ..WERE IN THE MONEY..La.La


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HAH.HAH.HAHHAH..La..LaHappy NewYear!!!!!

Below---- A Belated Christmas Letterfrom Barry & Nancy & Harry &the Socialist Democrats to All thelittle people ===> YOU theTaxpayers ==
http://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.html


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Christmas 2010

Dear Americans,

We know most of you are just settling down for along winters nap, with visions of sugarplums and allthose other things dancing in your heads, but we

wanted to take a moment to update you ourconstituents on Congresss achievements this year.

First, we must apologize for the tardiness of thisletter. You see we just got done finalizing theextension of the 2001 and 2003 tax laws. Just in timetoo! Come to think of it, weve been a little tardy

with most things this year. And then there are thethings we just skipped all together.

For the first time in the modern budgeting era, theHouse failed to pass or even to write a budget !At least we can say our work this year was, um

historic?!

Congress also failed to pass a single individualappropriations bill . Its all good, though. Congresshas dropped the ball on doing our appropriationswork lots of times, and we did eventually come up
http://thehill.com/homenews/house/104635-dems-wont-pass-budgethttp://thehill.com/homenews/house/104635-dems-wont-pass-budgethttp://thomas.loc.gov/home/approp/app11.htmlhttp://thomas.loc.gov/home/approp/app11.htmlhttp://thehill.com/homenews/house/104635-dems-wont-pass-budgethttp://thehill.com/homenews/house/104635-dems-wont-pass-budgethttp://thomas.loc.gov/home/approp/app11.htmlhttp://thomas.loc.gov/home/approp/app11.html


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with a omnibus appropriations for fiscal year 2011.But it was filled with those earmarks you all hate somuch, so we decided to scrap it. Instead we went with

a temporary fix , funding the government through thespring. Why not kick the can down the road a bit?

However, there were a few things we worked veryhard to get done.

In February we voted to increase the nations debt

limit to $14.2 trillion . Youd think that would do it,but it looks like well have to raise it again comespring .

Wow, are we spending too much!

While many of us here think its okay to force you todo something, few of us like to apply that same rule toourselves. Thats why in January the Senate voteddown a plan from Sens. Kent Conrad (D-ND) andJudd Gregg (R-NH) to create a deficit commission.That plan would have required us to actually vote onthe commissions proposals. Eew! We muchpreferred President Obamas executive order , whichestablished a commission that, in the end, didntagree on anything and didnt require us to agree onanything either.

In conclusion, wed like to look at some key numbersfrom 2010.
http://thehill.com/homenews/campaign/134757-house-passes-spending-bill-sets-up-2011-budget-fighthttp://www.nytimes.com/2010/01/29/business/29debt.htmlhttp://www.nytimes.com/2010/01/29/business/29debt.htmlhttp://www.dallasnews.com/sharedcontent/dws/news/politics/state/stories/DN-texwatch_21nat.ART.State.Edition1.4b8ba39.htmlhttp://www.businessweek.com/news/2010-08-04/treasury-s-miller-says-debt-limit-may-be-reached-1st-half-2011.htmlhttp://www.businessweek.com/news/2010-08-04/treasury-s-miller-says-debt-limit-may-be-reached-1st-half-2011.htmlhttp://www.politico.com/news/stories/0110/32048.htmlhttp://www.politico.com/news/stories/0110/32048.htmlhttp://www.whitehouse.gov/the-press-office/executive-order-national-commission-fiscal-responsibility-and-reformhttp://tpmdc.talkingpointsmemo.com/2010/12/fail-fiscal-commission-adjourns-without-holding-official-vote.phphttp://tpmdc.talkingpointsmemo.com/2010/12/fail-fiscal-commission-adjourns-without-holding-official-vote.phphttp://thehill.com/homenews/campaign/134757-house-passes-spending-bill-sets-up-2011-budget-fighthttp://www.nytimes.com/2010/01/29/business/29debt.htmlhttp://www.nytimes.com/2010/01/29/business/29debt.htmlhttp://www.dallasnews.com/sharedcontent/dws/news/politics/state/stories/DN-texwatch_21nat.ART.State.Edition1.4b8ba39.htmlhttp://www.businessweek.com/news/2010-08-04/treasury-s-miller-says-debt-limit-may-be-reached-1st-half-2011.htmlhttp://www.businessweek.com/news/2010-08-04/treasury-s-miller-says-debt-limit-may-be-reached-1st-half-2011.htmlhttp://www.politico.com/news/stories/0110/32048.htmlhttp://www.politico.com/news/stories/0110/32048.htmlhttp://www.whitehouse.gov/the-press-office/executive-order-national-commission-fiscal-responsibility-and-reformhttp://tpmdc.talkingpointsmemo.com/2010/12/fail-fiscal-commission-adjourns-without-holding-official-vote.phphttp://tpmdc.talkingpointsmemo.com/2010/12/fail-fiscal-commission-adjourns-without-holding-official-vote.php


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Last December, the U.S. national debt wasapproximately $12.3 trillion . Now its about $13.9trillion . Thats a 10 percent increasepeanuts,

really, we assure you.

The unemployment rate fell from 10 percent lastDecember to 9.8 percent currently. Thats a wholetwo-tenths of a percentage point!

Our approval was 25 percent last December. It was

13 percent in the latest Gallup poll . Sure, its thelowest in history, but that means some of you still likeus! So, on that bit of good news, we leave you to yourthoughts of sugarplums. Well be back in earlyJanuary. Bet you cant wait to see what we do (ordont do) then.

Happy holidays,The Senate

The House

##

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http://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.html
http://www.treasurydirect.gov/govt/reports/pd/mspd/2009/opds122009.pdfhttp://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000http://www.gallup.com/poll/145238/Congress-Job-Approval-Rating-Worst-Gallup-History.aspxhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://www.treasurydirect.gov/govt/reports/pd/mspd/2009/opds122009.pdfhttp://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://data.bls.gov/PDQ/servlet/SurveyOutputServlet?data_tool=latest_numbers&series_id=LNS14000000http://www.gallup.com/poll/145238/Congress-Job-Approval-Rating-Worst-Gallup-History.aspxhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.htmlhttp://dailybail.com/home/a-christmas-letter-from-congress-to-taxpayers.html


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http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html

(SoThis is a 111th Congress Christmas letter from Barry, Madame Pelosi, Harry Reid and all the Progressive Democratswhom LUVs You & gave youOBAMACARE or Rationedcare, STIMULUS for

Shovel Ready Handout, TSA Gropecare, Clunkers for Cash, Government GM Motorwork, WALLSTREET
http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html


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BANKS BAILOUT, Walmart SPY & TELL on your neighbors Watch, START down US security with

Russia Treaty, Devaluation of US Dollars,

UNEMPLOYMENT RATE of 22%, INCURRING National Debt of 202 Trillions, CONTROL over INTERNET, Curtailing FREEDOM OF SPEECH,undermining 2nd Amendment Right, ALLY with

Mexico suing sovereign state of Arizona, DOJ SUPPORT of CORRUPTIONS, SHADOW GOVERNMENT SOCIALIST CZARS to take away

your FREEDOMS, TRAMPLING OF US CONSTITUTION, Monetary SUPPORT OF PLO,undermining Judeao Christian foundation of America,Controlling distribution of College Loans, Government CONTROL of BANKS, Institute Socialized Medicine,

Support ILLEGAL ALIENS invasion with open

borders, Pro Illegal & Terrorists Rights, debasing military with DADT, Pro HIGH TAXES for AmericanTaxpayers, Engage in Voting Corruptions, Attacking US Ally Israel, ERODING National Security,

REPARATION for Blacks & farmers, Plan to give Manhattan back to Indians, US Land Grab, Place Socialist Judges on Supreme Court, Disparaging Americas Greatness oversea, ..and MUCH, MUCH, MUCH, MORE . To Sum up on all theyve beenup to over the past 2


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yea rs============>Bankrupting

America !)http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4

==
http://www.bankruptingamerica.org/http://www.bankruptingamerica.org/http://www.bankruptingamerica.org/http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.bankruptingamerica.org/http://www.bankruptingamerica.org/http://www.bankruptingamerica.org/http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4


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Rep Paul Ryan: By Every ObjectiveMeasure The STIMULUS HasFAILED

Rep. Paul Ryan (R-WI) recently spoke out against thefailed Obama-Pelosi Stimulus Plan at the House BudgetCommittee Hearing.It was another excellent speech by this bright youngconservative star:

http://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embedded

Rep. Ryan on the failed Stimulus Plan:
http://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embeddedhttp://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embeddedhttp://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embeddedhttp://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embedded


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situation. The proponents will tell us that we should allbe grateful that the pain isnt more acute, and that it is notfair to hold policymakers accountable for the failures of their policies .The economic models that overpromised on the stimuluswere clearly wrong, yet the Administration relies on thesesame economic models to make the case to double-down onthis failed borrow-and-spend economicexperiment.

The failed stimulus is unfortunately typical of Washingtons destructive economic agenda . Thegovernment cannot spend, tax, and regulate itsway into economic prosperity, but thats exactly thepolicy course this Majority has chosen. Washingtons

economic overreach is paralyzing investmentand growth, fostering an environment of anxietyand uncertainty, and further eroding theAmerican peoples trust in their elected leaders.From health care and the financial sector to theauto industry and the costly cap-and-trade

national energy tax this Administration andthis Congress seem to believe that the answer toevery problem is to explode the size of government and to centralize power inWashington.


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And, while the Administration will be quick to highlightwhat it sees as accomplishments from deficit spending onits stimulus program, we still have no budget. We just

learned the Administrations budget and economic update due tomorrow will be delayed this year. We still haventreceived the Trustees report on Medicare and SocialSecuritys financial health, which we usually receive inApril.

The American people are fed up with therelentless push to spend money we dont have,add to our crushing burden of debt, and evadeaccountability for the dismal results .

We need to chart a new course. Lets cancel the remainingstimulus funds, get a grip on runaway governmentspending, and advance pro-growth economic policies. Weneed to spur sustained job creation, rebuild confidence inour future, and restart the American engine of prosperity.

More Young Gun Rep. Paul Ryan (R-WI) schooled ChrisMatthews yesterday on Hardball.

Posted by Jim Hoft on Tuesday, July 27, 2010, 5:31 PM

http://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embedded
http://www.house.gov/ryan/http://www.thefoxnation.com/economy/2010/07/27/watch-paul-ryan-totally-schools-matthews-econ-101http://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embeddedhttp://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embeddedhttp://www.house.gov/ryan/http://www.thefoxnation.com/economy/2010/07/27/watch-paul-ryan-totally-schools-matthews-econ-101http://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embeddedhttp://www.youtube.com/watch?v=TcS45QccQvI&feature=player_embedded


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http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/

==
http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/%20%0D%20%20%20%20%20%0D==%0D%01%0D%0D%0D%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%0D%20%20http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/%20%0D%20%20%20%20%20%0D==%0D%01%0D%0D%0D%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%0D%20%20http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/%20%0D%20%20%20%20%20%0D==%0D%01%0D%0D%0D%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%0D%20%20http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/%20%0D%20%20%20%20%20%0D==%0D%01%0D%0D%0D%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%0D%20%20http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/%20%0D%20%20%20%20%20%0D==%0D%01%0D%0D%0D%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%0D%20%20http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/%20%0D%20%20%20%20%20%0D==%0D%01%0D%0D%0D%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%0D%20%20http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/%20%0D%20%20%20%20%20%0D==%0D%01%0D%0D%0D%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%0D%20%20http://gatewaypundit.rightnetwork.com/2010/07/rep-paul-ryan-by-every-objective-measure-the-stimulus-has-failed-video/%20%0D%20%20%20%20%20%0D==%0D%01%0D%0D%0D%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%20%0D%20%20


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==

To Balance The Budget By CuttingSpending Now!

posted on November 8, 2010 . Filed under: Blogroll , Politics , Video , Taxes , Reviews , Raves , Rants ,Economics , Links , Life , Regulations , Education , Communications , Law, Philosophy , Wisdom , liberty , Monetary Policy , Fiscal Policy , government spending , media , history , Language , government , FederalGovernment | Tags: Ron Paul , federal spending , FairTax , deficit spending , Balanced Budget , Tea PartyMovement , Paul Ryan , Fiscal Responsibility , Rand Paul , Budgets |https://raymondpronk.wordpress.com/2010/11/08/tea-party-movement-expects-republican-party-to-balance-the-budget/
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http://raymondpronk.files.wordpress.com/2010/11/obama_deficits_red.jpg


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Debt Clock

http://www.usdebtclock.org/

Economics 101 Its Simple to Balance The BudgetWithout Higher Taxes!

http://www.youtube.com/watch?v=Qx5u6i4-teU&feature=player_embedded

Meltzer Says U.S. Economic Programs Have Been `Foolish

http://www.youtube.com/watch?v=m9gPLDrlMzY&feature=player_embedded

Ron Paul Dr. Allan Meltzer

http://www.youtube.com/watch?feature=player_embedded&v=Zt_-5-mYiWU

No Compromise: Issa, Ryan and Cantor Will Cut RunawayFederal Spending

http://www.youtube.com/watch?v=g4euzOejBxs&feature=player_embedded

Rand Paul: GOP must consider military spending cuts

http://www.youtube.com/watch?v=ve-fq27wiBU&feature=player_embedded

Ron Paul on the Deficit, Government Spending, andMilitary Industrial Complex (1988)

http://www.youtube.com/watch?v=nWukDvcVAKw&feature=player_embedded
http://www.usdebtclock.org/http://www.youtube.com/watch?v=Qx5u6i4-teU&feature=player_embedded%C2%A0http://www.youtube.com/watch?v=m9gPLDrlMzY&feature=player_embeddedhttp://www.youtube.com/watch?feature=player_embedded&v=Zt_-5-mYiWU%C2%A0http://www.youtube.com/watch?v=g4euzOejBxs&feature=player_embedded%C2%A0http://www.youtube.com/watch?v=ve-fq27wiBU&feature=player_embeddedhttp://www.youtube.com/watch?v=ve-fq27wiBU&feature=player_embeddedhttp://www.youtube.com/watch?v=nWukDvcVAKw&feature=player_embeddedhttp://www.usdebtclock.org/http://www.youtube.com/watch?v=Qx5u6i4-teU&feature=player_embedded%C2%A0http://www.youtube.com/watch?v=m9gPLDrlMzY&feature=player_embeddedhttp://www.youtube.com/watch?feature=player_embedded&v=Zt_-5-mYiWU%C2%A0http://www.youtube.com/watch?v=g4euzOejBxs&feature=player_embedded%C2%A0http://www.youtube.com/watch?v=ve-fq27wiBU&feature=player_embeddedhttp://www.youtube.com/watch?v=nWukDvcVAKw&feature=player_embedded


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http://raymondpronk.files.wordpress.com/2010/04/national-debt-skyrocket-600_debt_deficits_chart_3.jpg


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http://raymondpronk.files.wordpress.com/2010/04/budget-create-deficits-600_debt_deficits_chart_4.jpg


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--The tea party movement is expecting the Republican Party tobalance the Fiscal Year 2011 and 2012 budgets or face theconsequences or fate in 2012 of the big spending Democrats in thispast election.

Instead the Republican Party is talking about a Fiscal Year 2008level of total outlays of about $3 trillion dollars.

This is definitely an improvement over President Obamasestimated budget deficits exceeding over $1,000 billion in FY 2010and FY 2011.

However, it still would not come close to balancing the budget inFY 2011 where tax revenues are expected to be about $2,567billion.

Unfortunately the deficit would be about $400 billion for the totalcombined on-budget and off-budget.

Refer to the following receipts and outlay estimates at:

Table 1.1SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (): 17892015

http://www.whitehouse.gov/omb/budget/Histori cals/

The total estimated tax revenues for FY 2011 and FY 2012 are$2,567 billion and $2,926 billion respectively for the combined on-budget and off-budget.

The total estimated outlays for FY 2011 and FY 2012 are $3,834billion and $3,755 billion respectively for the combined on-budgetand off-budget.

The total estimated deficits for FY 2011 and FY 2012 are $1,267billion and $828 billion respectively for combined on-budget andoff-budget.
http://www.whitehouse.gov/omb/budget/Historicals/http://www.whitehouse.gov/omb/budget/Historicals/


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To balance the combined on-budget and off-budget the FY 2011outlays would need to about the level of Fiscal Year 2005 of $2,472billion.

To balance the combined on-budget and off-budget the FY 2012outlays would need to about the level of Fiscal Year 2008 of $2,983billion.

Either balance the budget or face the consequences in 2012.

Stop dithering.

Start shutting down entire Federal Departments, agencies and

programs.=

Warren Harding and the ForgottenDepression of 1920

by Thomas E. Woods, Jr.

The economic situation in 1920 was grim. By that yearunemployment had jumped from 4 percent to nearly 12percent, and GNP declined 17 percent. No wonder, then,that Secretary of Commerce Herbert Hoover falselycharacterized as a supporter of laissez-faire economics urged President Harding to consider an array of interventions to turn the economy around. Hoover wasignored.

Instead of fiscal stimulus, Harding cut the governmentsbudget nearly in half between 1920 and 1922. The rest of


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Hardings approach was equally laissez-faire. Tax rateswere slashed for all income groups. The national debt wasreduced by one-third. The Federal Reserves activity,

moreover, was hardly noticeable. As one economichistorian puts it, Despite the severity of the contraction,the Fed did not move to use its powers to turn the moneysupply around and fight the contraction . 2 By the latesummer of 1921, signs of recovery were already visible. Thefollowing year, unemployment was back down to 6.7percent and was only 2.4 percent by 1923.

It is instructive to compare the American response in thisperiod to that of Japan. In 1920, the Japanese governmentintroduced the fundamentals of a planned economy, withthe aim of keeping prices artificially high. According toeconomist Benjamin Anderson , The great banks, theconcentrated industries, and the government got together,destroyed the freedom of the markets, arrested the decline

in commodity prices, and held the Japanese price level highabove the receding world level for seven years. Duringthese years Japan endured chronic industrial stagnationand at the end, in 1927, she had a banking crisis of suchseverity that many great branch bank systems went down,as well as many industries. It was a stupid policy. In theeffort to avert losses on inventory representing one yearsproduction, Japan lost seven years. 3

The U.S., by contrast, allowed its economy to readjust. In192021, writes Anderson, we took our losses, wereadjusted our financial structure, we endured ourdepression, and in August 1921 we started up again. . . .
http://www.lewrockwell.com/woods/woods125.html#refhttp://www.lewrockwell.com/woods/woods125.html#refhttp://www.lewrockwell.com/woods/woods125.html#refhttp://www.lewrockwell.com/woods/woods125.html#ref


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The rally in business production and employment thatstarted in August 1921 was soundly based on a drasticcleaning up of credit weakness, a drastic reduction in the

costs of production, and on the free play of privateenterprise. It was not based on governmental policydesigned to make business good . The federal governmentdid not do what Keynesian economists ever since haveurged it to do: run unbalanced budgets and prime thepump through increased expenditures. Rather, thereprevailed the old-fashioned view that government shouldkeep spending and taxation low and reduce the publicdebt. 4

http://www.lewrockwell.com/woods/woods125.html

Historical Tables

Historical Tables provides data on budget receipts, outlays,surpluses or deficits, Federal debt, and Federal

employment over an extended time period, generally from1940 or earlier to 2011 or 2015.

Table 1.1SUMMARY OF RECEIPTS, OUTLAYS, AND SURPLUSES OR DEFICITS (): 17892015

http:// www.whitehouse.gov/omb/budget/Historicals/
http://www.lewrockwell.com/woods/woods125.html#refhttp://www.lewrockwell.com/woods/woods125.html#refhttp://www.lewrockwell.com/woods/woods125.htmlhttp://www.whitehouse.gov/omb/budget/Historicals/http://www.lewrockwell.com/woods/woods125.html#refhttp://www.lewrockwell.com/woods/woods125.htmlhttp://www.whitehouse.gov/omb/budget/Historicals/


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High Taxes and High Budget DeficitsThe HooverRoosevelt Tax Increases of the 1930sby Veronique de Rugy, Fiscal Policy Analyst, Cato

InstituteConclusionThe tax increases of the 1930s coincided with largedeficits and economic stagnation. While the monetaryandtrade policy mistakes of the 1930s are now widelyunderstood, the tax policy mistakes are lessappreciated.As Congress grapples with todays budget deficit andmediocre economic growth, it should look to the taxcutsof the 1920s for inspiration rather than the failedbudget

balancing with high taxes approach of the 1930s.http://www.cato.org/pubs/tbb/tbb-0303-14.pdf

https://raymondpronk.wordpress.com/2010/11/08/tea-party-movement-expects-republican-party-to-balance-the-budget/

===============================
http://www.cato.org/pubs/tbb/tbb-0303-14.pdfhttps://raymondpronk.wordpress.com/2010/11/08/tea-party-movement-expects-republican-party-to-balance-the-budget/https://raymondpronk.wordpress.com/2010/11/08/tea-party-movement-expects-republican-party-to-balance-the-budget/http://www.cato.org/pubs/tbb/tbb-0303-14.pdfhttps://raymondpronk.wordpress.com/2010/11/08/tea-party-movement-expects-republican-party-to-balance-the-budget/https://raymondpronk.wordpress.com/2010/11/08/tea-party-movement-expects-republican-party-to-balance-the-budget/


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111th CongressAdded More DebtThan First 100CongressesCombined: $10,429Per Person in U.S. Monday, December 27, 2010By Terence P. Jeffrey

http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4
http://www.cnsnews.com/source/74693http://www.cnsnews.com/source/74693http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.cnsnews.com/source/74693http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4


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(CNSNews.com) - The federal government hasaccumulated more new debt--$3.22 trillion($3,220,103,625,307.29)during the tenure of the111th Congress than it did during the first 100


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The $3.22 trillion in new federal debt run up duringthe 111th Congress exceeds by 64 percent the $1.957trillion in new debt run up during the 110th.

Although the 111th Congress cast its last vote on Dec.22, it will not officially adjourn until next week.

Democrats controlled both the House and Senate inthe 110th and 111th Congresses.

The 108th Congress ($1.159 trillion in new debt) and109th ($1.054 trillion in new debt) take third andfourth place among all U.S. Congresses foraccumulating debt. In both these Congresses,Republicans controlled both the House and Senate.

Still, the $3.22 trillion in new debt accumulatedduring the record-setting 111th Congress is morethan three times the $1.054 trillion in new debtaccumulated by the last Republican-majorityCongress (the 109th) which adjourned on Dec. 8,2006.

Historically, according to the U.S.Treasury, the federal debt did not reach $3.22 trillionuntil September 1990 , during the 101st Congress.Between the first Congress, which adjourned in 1791leaving behind approximately $75 million in debt ,and the convening of the 101st Congress,
http://clerk.house.gov/evs/2010/index.aspftp://ftp.publicdebt.treas.gov/opd/opdm091990.pdfhttp://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo1.htmhttp://clerk.house.gov/evs/2010/index.aspftp://ftp.publicdebt.treas.gov/opd/opdm091990.pdfhttp://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo1.htm


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which occurred on Jan. 3, 1989, the national debtgrew to $2.684 trillion.

During the Rep. Nancy Pelosis (D-Calif.) tenure asspeaker, which commenced on Jan. 4, 2007, thefederal government has run up $5.177 trillion in newdebt. That is about equal to the total debt the federalgovernment accumulated in the first 220 years of thenation's existence, with the federal debt rising from$5.173 trillion on July 23, 1996 to $5.181 trillion on

July 24, 1996.

In her inaugural address as speaker, Pelosi vowedthat Congress would engage in no new deficitspending.

"After years of historic deficits, this 110th Congress

will commit itself to a higher standard: Pay as you go,no new deficit spending, she said in an address fromthe speakers podium. Our new America willprovide unlimited opportunity for future generations,not burden them with mountains of debt."

See video of Pelosi making her vow here:

Here is an accounting of the new debt accumulated during the tenure of each Congress since the 101st.The convening and adjourning dates are reported bythe Clerk of the House and the debt levels are recorded by the U.S. Treasury :
http://clerk.house.gov/art_history/house_history/Session_Dates/index.htmlhttp://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://clerk.house.gov/art_history/house_history/Session_Dates/index.htmlhttp://www.treasurydirect.gov/NP/BPDLogin?application=np


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==

111th CongressCongress Convening/Adjourning Debt Levels

Jan. 6,2009 $10,638,425,746,293.80

Dec. 22,

2010 $13,858,529,371,601.09

New Debt:$3,220,103,625,307.29110th CongressJan. 4, 2007 8,670,596,242,973.04

Jan. 3, 2009 10,627,961,295,930.67

New Debt: 1,957,365,052,957.63

109th CongressJan. 4, 2005 7,601,016,892,663.19

Dec. 8, 2006 8,655,403,967,590.98


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New Debt: 1,054,387,074,927.79

108th Congress

Jan. 7, 2003 6,387,381,983,103.35

Dec. 9, 2004 7,546,778,677,941.37

New Debt: 1,159,396,694,838.02

107th Congress

Jan. 3, 2001 5,723,237,439,563.59

Nov. 22, 2002 6,332,715,758,032.33

New Debt: 609,478,318,468.74

106th Congress

Jan. 6, 1999 5,615,428,551,461.33

Dec. 15, 2000 5,706,990,981,165.37

New Debt: 91,562,429,704.04

105th Congress

Jan. 7, 1997 5,312,781,237,956.91

Dec. 19, 1998 5,583,950,306,972.53

New Debt: 271,169,069,015.62


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104th Congress

Jan. 4, 1995 4,801,793,426,032.89

Oct. 4, 1996 5,222,049,625,819.53

New Debt: 420,256,199,786.64

103rd Congress

Jan.5, 1993 4,169,232,407,244.75

Dec. 1, 1994 4,774,851,353,596.54

New Debt: 605,618,946,351.79

102nd Congress

Jan. 3, 1991 (Dec. 31, 1990) 3,364,820,000,000.00

Oct. 9, 1992 (Sept. 30, 1992) 4,064,621,000,000.00

New Debt: 699,801,000,000.00

101st Congress

Jan. 3, 1989 (Dec. 31, 1988)2,684,392,000,000.00

Oct. 28, 1990 (Oct. 31, 1990) 3,274,950,000.000.00

New Debt: 590,558,000,000.00


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==

http://www.cnsnews.com/news/article/111th-congress-added-more-debt-first-100
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Everyone Must SacrificeObamas Vacation Will CostTaxpayers $1,474,200

Posted by Jim Hoft on Thursday, December 30, 2010, 6:57 PM


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In January 2009, before the president signed his failed$787 billion stimulus bill into law, Barack Obamalectured America saying,

Everyone must sacrifice forthe greater good Everyonemust have some skin in the

game.

Everyone but Barack andMichelle Obama.
http://gatewaypundit.firstthings.com/2009/12/for-the-first-time-plurality-in-us-now-believe-the-obama-stimulus-bill-hurt-the-economy/http://gatewaypundit.firstthings.com/2009/12/for-the-first-time-plurality-in-us-now-believe-the-obama-stimulus-bill-hurt-the-economy/http://gatewaypundit.firstthings.com/2009/01/dear-leader-everyone-must-sacrifice-for-the-greater-good/http://gatewaypundit.firstthings.com/2009/12/for-the-first-time-plurality-in-us-now-believe-the-obama-stimulus-bill-hurt-the-economy/http://gatewaypundit.firstthings.com/2009/12/for-the-first-time-plurality-in-us-now-believe-the-obama-stimulus-bill-hurt-the-economy/http://gatewaypundit.firstthings.com/2009/01/dear-leader-everyone-must-sacrifice-for-the-greater-good/


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The presidents latest vacation will cost taxpayers over amillion dollars.Via the Hawaii Reporter :

President Barack Obama and his family and friends areenjoying a seemingly quiet Christmas vacation.

They could have chosen a less expensive and moresecure place to stay such as a beachfront home on theKaneohe Marine Corps Air Station just a two-minute

drive away from the Kailuana Place property where theyare now. The president visits the military base daily toworkout, bowl with his kids or enjoy the more private

beach there. He also could have stayed at a home 15minutes away on the beach fronting Bellows Air ForceBase as President Bill Clinton did

Instead, Obama and his friends annually pool their money to pay for the rental of three luxury beachfronthomes. The so-called Winter White House or Kailuahome that the president rents two weeks a year cancost an estimated $3,500 a day or $75,000 a month,according to the web site Gadling.com. The sitedescribes the home where the President sleeps: The7,000 square foot home features 5 bedrooms, 5

bathrooms, a media room with surround sound, a kitchensuited for a master chef, a dining room and great room, asecluded lagoon-style pool with tropical waterfalls and alavish island spa. The ocean lanai and garden lanai
http://www.hawaiireporter.com/president-obamas-million-dollar-plus-trip-to-hawaii-costs-to-taxpayers-detailedhttp://www.hawaiireporter.com/president-obamas-million-dollar-plus-trip-to-hawaii-costs-to-taxpayers-detailed


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showcase ornate landscaping and stunning views of Kailua Bay and Mount Olomana.

With estimates secured from a host of professionals,city officials and law enforcement, Hawaii Reporter estimates costs to taxpayers will at least include:

* Mrs. Obamas early flightto Hawaii: $63,000 (WhiteHouse Dossier)* Obamas round trip flightto Hawaii: $1 million (GAO

estimates)* Housing in beachfronthomes for Secret Service andSeals in Kailua ($1,200 a day

for 14 days): $16,800* Costs for White House staff staying at Moana Hotel:


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$134,400 ($400 per day for 24

staff) excluding meals andother room costs* Police overtime: $250,000(2009 costs reported by

Honolulu Police Department)* Ambulance: $10,000 (CitySpokesperson)* TOTAL COST:

$1,474,200The Obamas:

Sacrifice is for thelittle


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people.----------------YOU THE Little

AmericanTAXPAYERS!

HOW MUCH MORE MUST I TOLERATE FROM KING & QUEEN OBAMA?


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==

Kotlikoff: U.S. Is Bankrupt And

We Don't Even Know It Bloomberg: Dr. Laurence Kotlikoff economics professor at BostonUniversity speaks with Erik Schatzker on Bloomberg Television'sInsideTrack.". Discussing the national debt and unfundedliabilities - Aug. 11, 2010 http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4

Kotlikoff estimates the real national debt is$202 trillion .In case you're keeping track, the official deficitnumbers for July were released last night - $165
http://dailybail.com/home/money-coming-out-the-wazoo.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/hes-back-bubble-architect-robert-rubin-returns-to-wall-stree.htmlhttp://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://online.wsj.com/article/SB10001424052748704901104575423601722830706.htmlhttp://online.wsj.com/article/SB10001424052748704901104575423601722830706.htmlhttp://dailybail.com/home/money-coming-out-the-wazoo.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/hes-back-bubble-architect-robert-rubin-returns-to-wall-stree.htmlhttp://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://www.youtube.com/watch?feature=player_embedded&v=sstBdoOoyR4http://online.wsj.com/article/SB10001424052748704901104575423601722830706.htmlhttp://online.wsj.com/article/SB10001424052748704901104575423601722830706.html


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billion -- that's just for 1 month. Once upon a time- as in 2002 - $165 billion covered the deficit for theentire fiscal year.

---

Reprinted with permission.

Source - Bloomberg

Lets get real. The U.S. is bankrupt. Neither spending

more nor taxing less will help the country pay itsbills.

What it can and must do is radically simplify its tax,health-care, retirement and financial systems, each of which is a complete mess. But this is the good news. Itmeans they can each be redesigned to achieve their

legitimate purposes at much lower cost and, in theprocess, revitalize the economy.

Last month, the International Monetary Fundreleased its annual review of U.S. economic policy. Itssummary contained these bland words about U.S.fiscal policy: Directors welcomed the authorities

commitment to fiscal stabilization, but noted that alarger than budgeted adjustment would be requiredto stabilize debt-to-GDP.
http://tech.mit.edu/V122/N50/spending-50.50w.htmlhttp://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://www.imf.org/external/np/sec/pn/2010/pn10101.htmhttp://tech.mit.edu/V122/N50/spending-50.50w.htmlhttp://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://www.imf.org/external/np/sec/pn/2010/pn10101.htm


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But delve deeper, and you will find that the IMF haseffectively pronounced the U.S. bankrupt. Section 6of the July 2010 Selected Issues Paper says: The U.S.

fiscal gap associated with todays federal fiscal policyis huge for plausible discount rates. It adds thatclosing the fiscal gap requires a permanent annualfiscal adjustment equal to about 14 percent of U.S.GDP.

The fiscal gap is the value today (the present value) of

the difference between projected spending (includingservicing official debt) and projected revenue in allfuture years.

Double Our Taxes

To put 14 percent of gross domestic product in

perspective, current federal revenue totals 14.9percent of GDP. So the IMF is saying that closing theU.S. fiscal gap, from the revenue side, requires,roughly speaking, an immediate and permanentdoubling of our personal-income, corporate andfederal taxes as well as the payroll levy set down inthe Federal Insurance Contribution Act.

Such a tax hike would leave the U.S. running asurplus equal to 5 percent of GDP this year, ratherthan a 9 percent deficit. So the IMF is really sayingthe U.S. needs to run a huge surplus now and for
http://www.imf.org/external/pubs/ft/scr/2010/cr10248.pdfhttp://www.imf.org/external/pubs/ft/scr/2010/cr10248.pdf


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many years to come to pay for the spending that isscheduled. Its also saying the longer the countrywaits to make tough fiscal adjustments, the more

painful they will be.

Is the IMF bonkers?

No. It has done its homework. So has theCongressional Budget Office whose Long-TermBudget Outlook , released in June, shows an even

larger problem.Unofficial Liabilities

Based on the CBOs data, I calculate a fiscal gap of $202 trillion, which is more than 15 times the officialdebt . This gargantuan discrepancy between ourofficial debt and our actual net indebtedness isntsurprising. It reflects what economists call thelabeling problem. Congress has been very carefulover the years to label most of its liabilitiesunofficial to keep them off the books and far in thefuture.

For example, our Social Security FICA contributionsare called taxes and our future Social Securitybenefits are called transfer payments. Thegovernment could equally well have labeled ourcontributions loans and called our future benefitsrepayment of these loans less an old age tax, with
http://www.cbo.gov/doc.cfm?index=11579http://www.cbo.gov/doc.cfm?index=11579http://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://www.socialsecurity.gov/mystatement/fica.htmhttp://www.cbo.gov/doc.cfm?index=11579http://www.cbo.gov/doc.cfm?index=11579http://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://www.treasurydirect.gov/NP/BPDLogin?application=nphttp://www.socialsecurity.gov/mystatement/fica.htm


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the old age tax making up for any difference betweenthe benefits promised and principal plus interest onthe contributions.

The fiscal gap isnt affected by fiscal labeling. Its theonly theoretically correct measure of our long-runfiscal condition because it considers all spending, nomatter how labeled, and incorporates long-term andshort-term policy.

$4 Trillion BillHow can the fiscal gap be so enormous?

Simple. We have 78 million baby boomers who, whenfully retired, will collect benefits from SocialSecurity, Medicare, and Medicaid that, on average,exceed per-capita GDP. The annual costs of theseentitlements will total about $4 trillion in todaysdollars. Yes, our economy will be bigger in 20 years,but not big enough to handle this size load year afteryear.

This is what happens when you run a massive Ponzischeme for six decades straight, taking ever largerresources from the young and giving them to the oldwhile promising the young their eventual turn atpassing the generational buck.


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Herb Stein, chairman of the Council of EconomicAdvisers under U.S. President Richard Nixon, coinedan oft-repeated phrase: Something that cant go on,

will stop. True enough. Uncle Sams Ponzi schemewill stop. But it will stop too late.

And it will stop in a very nasty manner. The firstpossibility is massive benefit cuts visited on the babyboomers in retirement. The second is astronomicaltax increases that leave the young with little incentive

to work and save. And the third is the governmentsimply printing vast quantities of money to cover itsbills.

Worse Than Greece

Most likely we will see a combination of all three

responses with dramatic increases in poverty, tax,interest rates and consumer prices. This is an awful,downhill road to follow, but its the one we are on.And bond traders will kick us miles down our roadonce they wake up and realize the U.S. is in worsefiscal shape than Greece.

Some doctrinaire Keynesian economists would sayany stimulus over the next few years wont affect ourability to deal with deficits in the long run.

This is wrong as a simple matter of arithmetic. Thefiscal gap is the governments credit-card bill and


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each years 14 percent of GDP is the interest on thatbill. If it doesnt pay this years interest, it will beadded to the balance.

Demand-siders say forgoing this years 14 percentfiscal tightening, and spending even more, will payfor itself, in present value, by expanding the economyand tax revenue.

My reaction? Get real, or go hang out with equally

deluded supply-siders. Our country is broke and canno longer afford no- pain, all-gain solutions.

(Laurence J. Kotlikoff is a professor of economics atBoston University and author of Jimmy Stewart IsDead: Ending the Worlds Ongoing Financial Plaguewith Limited Purpose Banking. The opinions

expressed are his own.)To contact the writer of this column: Laurence Kotlikoff at [email protected]

http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html

Aug 12, 2010

http://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.html

==
http://opt/scribd/conversion/tmp/scratch1630/[email protected]://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://opt/scribd/conversion/tmp/scratch1630/[email protected]://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.htmlhttp://dailybail.com/home/kotlikoff-us-is-bankrupt-and-we-dont-even-know-it.html


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Obama's Gaffe About

Shovel-Ready Jobs

by Phyllis SchlaflyOctober 22, 2010

All sides admit that jobs are the number-one issue in 2010, but only threeweeks before the crucial make-or-break congressional election on November 2, Obamacasually admitted that his claim last yearthat his Stimulus spending bill would

create 3.5 million " shovel-ready jobs " was not true.
http://www.eagleforum.org/misc/bio.html


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Fox News played six video clips from differentObama speeches bragging that his $787 BillionStimulus bill would create millions of "shovel-ready

jobs." Now, Obama admits that those things hetalked about never existed.

He played his Democratic majority inCongress for suckers. He conned theminto voting Yes for the Stimulus bill, whileRepublicans stood their ground and unanimouslyvoted No.

Mark Shields commented, "How would you like to bea Democratic member of the House fighting for yourlife right now, getting hit over the head for havingvoted for the Stimulus bill, and have the President

say in the New York Times Sunday Magazine,'there's no such thing as shovel-ready projects'?"

Obama deceived his grassrootssupporters the same way. He sentmessages to thousands of cell phones to

get them to hold 3,587 House Meetings,covering all 50 states and everycongressional district, so they couldlisten to his sales talk for the Stimulus


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over the internet, and then call theirMembers of Congress to urge them to

vote Yes. Obama's friends performedloyally, and now they have to face thetruth that the Stimulus is not merely a

failure; it was a fake. Obama keeps pouring salt into his friends' politicalwounds. He bemoaned that he let himself look like"the same old tax-and-spend liberal Democrat." Nokidding!

That's not just how he looks; it's what he is. He hassaddled us with colossal debt that mortgages thefuture of our children and grandchildren with no endin sight.

Political pundits are trying to explain the meltdownof the Obama presidency after he entered the WhiteHouse basking in what Bernard Goldberg called "theslobbering love affair" of the media and ChrisMatthews called "the thrill going up my leg." But themeltdown is not caused only by the depression, thedebt, the deficits, the bailouts, the unemployment, thebankruptcies, and the industry takeovers; it's causedby what Obama says and doesn't say.


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He insulted the Boy Scouts by boycotting their 100thanniversary Jamboree in July, attended by 45,000Scouts only a few miles from the White House.

Instead, he spent that day consorting with leftwingfeminists on television.

At his first State of the Union address to Congress, heinsulted the Supreme Court Justices sitting in front of him. No wonder Justice Sam Alito announced heprobably won't attend the State of the Union address

next year.

The American people were allowed to learn lessabout Obama than anyone ever elected President. Wedon't even know, for example, his college grades orwho paid his tuition at pricey Harvard andColumbia.

The Pulitzer Prize winner Dorothy Rabinowitzexpressed the belief of many Americans when shecalled him "the alien in the White House" (addingthe caveat that this label is not even related to whereObama was born). It refers to calling himself a"citizen of the world" and the tell-tale discomfort he

reveals when discussing America's greatness, values,religious traditions, or exceptionalism.


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It's no surprise that Democratic candidates thisNovember are not eager to associate themselves withthe President and his proposed legislation.

http://www.eagleforum.org/column/2010/oct10/10-10-22.html

================================

Big Spending Dems10/15/10 update:

Both charts updated to reflect the latest fiscal fiascos.

Remember, Congress writes the checks and passes thebudgets into law.

In January of 2007 , the Democrats regained control of Congress.

Click here to view the source data (before added shading).
http://www.eagleforum.org/column/2010/oct10/10-10-22.htmlhttp://en.wikipedia.org/wiki/110th_United_States_Congresshttp://research.stlouisfed.org/fred2/graph/?&chart_type=bar&graph_id=&category_id=&&width=1000&height=600&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=true&fo=ve&id=FGDEF&transformation=lin&scale=Left&range=Custom&cosd=2003-01-01&coed=2010-04-01&line_color=%230000FF&link_values=&mark_type=&mw=&line_style=&lw=&vintage_date=2010-10-15&revision_date=2010-10-15&mma=0&nd=&ost=&oet=&fml=ahttp://www.eagleforum.org/column/2010/oct10/10-10-22.htmlhttp://en.wikipedia.org/wiki/110th_United_States_Congresshttp://research.stlouisfed.org/fred2/graph/?&chart_type=bar&graph_id=&category_id=&&width=1000&height=600&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=true&fo=ve&id=FGDEF&transformation=lin&scale=Left&range=Custom&cosd=2003-01-01&coed=2010-04-01&line_color=%230000FF&link_values=&mark_type=&mw=&line_style=&lw=&vintage_date=2010-10-15&revision_date=2010-10-15&mma=0&nd=&ost=&oet=&fml=a


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It didnt take the Dems long to

DRAMATICALLY reverse the positive trend.

If you think the above chart is atypical, think again.Click here to view the source data (before added shading).
http://research.stlouisfed.org/fred2/graph/?&chart_type=bar&graph_id=&category_id=&&width=1000&height=600&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=true&fo=ve&id=FGDEF&transformation=lin&scale=Left&range=Custom&cosd=1955-01-01&coed=2010-04-01&line_color=%230000FF&link_values=&mark_type=&mw=&line_style=&lw=&vintage_date=2010-10-15&revision_date=2010-10-15&mma=0&nd=&ost=&oet=&fml=ahttp://1.bp.blogspot.com/_cHhMa7ARDDg/TLi72T6F4SI/AAAAAAAAB4A/U7tG1g1KDnI/s1600/Big_Spending_Dems-03b.jpghttp://research.stlouisfed.org/fred2/graph/?&chart_type=bar&graph_id=&category_id=&&width=1000&height=600&bgcolor=%23B3CDE7&graph_bgcolor=%23FFFFFF&txtcolor=%23000000&ts=8&preserve_ratio=true&fo=ve&id=FGDEF&transformation=lin&scale=Left&range=Custom&cosd=1955-01-01&coed=2010-04-01&line_color=%230000FF&link_values=&mark_type=&mw=&line_style=&lw=&vintage_date=2010-10-15&revision_date=2010-10-15&mma=0&nd=&ost=&oet=&fml=a


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Click here to verify control of the Senate.Click here to verify control of the House.

Predictably, the current Dem Congress has had aTERRIBLE impact.

But, if you think their impact was awful

Check the chart below & examine Obamas spendingplans:
http://www.senate.gov/pagelayout/history/one_item_and_teasers/partydiv.htmhttp://clerk.house.gov/art_history/house_history/partyDiv.htmlhttp://4.bp.blogspot.com/_cHhMa7ARDDg/TLi7yL1pqgI/AAAAAAAAB34/ZfY_48KV_2g/s1600/Big_Spending_Dems-04b.jpghttp://www.senate.gov/pagelayout/history/one_item_and_teasers/partydiv.htmhttp://clerk.house.gov/art_history/house_history/partyDiv.html


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Worst of all, profligate spending -- predictably -- madematters WORSE!

Check the image and examine the QUANTITATIVEFACTS:
http://www.spectator.org/dsp_article.asp?art_id=6517http://sbvor.blogspot.com/2009/03/fiscal-responsibility-dim-style.htmlhttp://www.spectator.org/dsp_article.asp?art_id=6517


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Click here for more recent evidence of Obamas epic failure.

Could ANYTHING be worse than a FAR LEFTDemocratic Congress

serving the most radically FAR LEFT President EVER?

http://sbvor.blogspot.com/2008/09/big-spending-dems.html

==

Saturday, October 16, 2010
http://sbvor.blogspot.com/search/label/Obama%20-%20Epic%20Failure%20(Jobs%20-%20Jobs%20-%20Jobs)http://sbvor.blogspot.com/2008/10/is-obama-socialist-you-betcha.htmlhttp://sbvor.blogspot.com/2008/09/big-spending-dems.htmlhttp://www.americanthinker.com/blog/2009/06/the_obama_recession.htmlhttp://sbvor.blogspot.com/search/label/Obama%20-%20Epic%20Failure%20(Jobs%20-%20Jobs%20-%20Jobs)http://sbvor.blogspot.com/2008/10/is-obama-socialist-you-betcha.htmlhttp://sbvor.blogspot.com/2008/09/big-spending-dems.html


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The only thing 'shovel

ready' was Obama's BSQuoting Jonah Goldberg.Back in early 2009, President-elect Barack Obama was asked on Meet the Press how quicklyhe could create jobs. Oh, very fast, he said. He'd already consulted with a gaggle of governors, and

all of them have projects that are shovel-ready...

In the current issue of The New York Times

Magazine, Obama admits that there's no such thing as

shovel-ready when it comes to publicworks.

Worse stillObama admitted this (supposedly, off the

record) one year ago!

Academic indoctrination notwithstanding,these are the entirely predictable facts:
http://www.realclearpolitics.com/articles/2010/10/16/a_shovel-unready_president_107606.htmlhttp://www.nytimes.com/2010/10/17/magazine/17obama-t.htmlhttp://www.nytimes.com/2010/10/17/magazine/17obama-t.htmlhttp://michellemalkin.com/2010/10/16/david-brooks-obama-told-me-shovel-ready-was-a-crock-a-year-ago/http://sbvor.blogspot.com/2010/01/hayek-vs-keynes-macroeconomic-rap.htmlhttp://www.realclearpolitics.com/articles/2010/10/16/a_shovel-unready_president_107606.htmlhttp://www.nytimes.com/2010/10/17/magazine/17obama-t.htmlhttp://www.nytimes.com/2010/10/17/magazine/17obama-t.htmlhttp://michellemalkin.com/2010/10/16/david-brooks-obama-told-me-shovel-ready-was-a-crock-a-year-ago/http://sbvor.blogspot.com/2010/01/hayek-vs-keynes-macroeconomic-rap.html


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1) FDR extended &exacerbated the GreatDepression.2) Obama, emulatingFDR, extended &exacerbated thisrecession.

http://sbvor.blogspot.com/2010/11/fdrs-secretary-of-treasury-knew-it-was.html
http://sbvor.blogspot.com/2010/10/fdrs-policies-prolonged-depression-by-7.htmlhttp://sbvor.blogspot.com/2010/10/fdrs-policies-prolonged-depression-by-7.htmlhttp://sbvor.blogspot.com/2010/01/2009-epic-fail-of-year-jobs-jobs-jobs.htmlhttp://sbvor.blogspot.com/2010/01/2009-epic-fail-of-year-jobs-jobs-jobs.htmlhttp://sbvor.blogspot.com/2010/11/fdrs-secretary-of-treasury-knew-it-was.htmlhttp://sbvor.blogspot.com/2010/11/fdrs-secretary-of-treasury-knew-it-was.htmlhttp://sbvor.blogspot.com/2010/11/fdrs-secretary-of-treasury-knew-it-was.htmlhttp://sbvor.blogspot.com/2010/10/fdrs-policies-prolonged-depression-by-7.htmlhttp://sbvor.blogspot.com/2010/10/fdrs-policies-prolonged-depression-by-7.htmlhttp://sbvor.blogspot.com/2010/01/2009-epic-fail-of-year-jobs-jobs-jobs.htmlhttp://sbvor.blogspot.com/2010/01/2009-epic-fail-of-year-jobs-jobs-jobs.htmlhttp://sbvor.blogspot.com/2010/11/fdrs-secretary-of-treasury-knew-it-was.htmlhttp://sbvor.blogspot.com/2010/11/fdrs-secretary-of-treasury-knew-it-was.html


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==

Shovel-Ready Economic Myths

We can thank Barack Obama and theDemocrats for one historic

accomplishment : They haveproved beyond any

doubt that Keynesianborrow-spendstimulus is a hoax.

Government economists issued their quarterly GDPreport on Friday, confirming what has becomeobvious to most Americans: the recovery is falteringand there is little chance of restoring the 7.8 million

jobs lost since the beginning of 2008 until governmentdramatically changes course.

GDP growth in the second quarter of 2010 was ananemic 1.6%. Third (current) quarter results are notlikely to be any better and could even be negative.The chart compares current, lackluster, GDP growthwith the first ten quarters of the nine year growth erathat began in 1983.
http://libertyworks.com/shovel-ready-economic-myths/http://libertyworks.com/shovel-ready-economic-myths/


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http://libertyworks.com/wp-content/uploads/2010/08/GDP-Reagan-Vs-Obama.gif


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Presidents Reagan and Obama each inheritedrecessions that were similar in their length andseverity. By one measure, unemployment rate,

Reagan inherited a worse crisis than Obama.

But the similarity ends with policy responses and theresulting recovery

The centerpiece of Obamanomics isthe $860 billion stimulus divertingresources from private sectorspending and investment toadditional government spending, overand above the already bloated federalbudget. This is textbook Keynesiandoctrine and has utterly failed to dowhat the President promised,jumpstart job creation. PresidentReagan had no such program.

Presidents Bush and Obama

implemented a massive bailout tosave Wall Street firms, and unionizedcar companies from the consequencesof their own bad judgments. Reagan


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allowed the market and thebankruptcy process to clear away

business failures quickly. Reagan pulled back government

intervention and regulation, whileObama has dramatically expandedgovernment interference in the

private sector. Reagan worked with Democrats in

Congress to enact broad based,sweeping tax cuts, leaving morewealth in the hands of the

entrepreneurs who created it, to bereinvested in business expansion and job creation. Obama and theDemocrats promise large taxincreases on investors and on themost successful small businesses.

The Bottom Line

As the chart shows, quarterly GDP growth istrending in the wrong direction under the Obama-


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Keynesian approach. There is no reason to believethat allowing Obama and the Democrats to continuetheir policy of enacting stimulus after stimulus,

including cash for clunkers, subsidies to homebuyers, and subsidies to blue-sky energy schemes willever result in a return to growth and prosperity.

http://libertyworks.com/shovel-ready-economic-myths/

August 29, 2010 | By BoomerJeff In ObamaNomics

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http://libertyworks.com/shovel-ready-economic-myths/%20%20http://libertyworks.com/category/obamanomics/http://libertyworks.com/shovel-ready-economic-myths/%20%20http://libertyworks.com/category/obamanomics/


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Documents

Obama Admit Keynesian Borrow-Spend “STIMULUS” is a HOAX