yota5
VIP Member
This is a great article. I only wish that I could have posted it in its full context. I agree with everything in this article. So I'll reserve further comment.
"Obamas Dreamland
From the national debt to Libya, the political class is asleep at the wheel.
Barack Obama just gave a belated but stern warning about escalating debt a few weeks after he presented a 2011 budget with a $1.6 trillion deficit, the largest shortfall in American history. Congressional Republicans are now crowing about reducing Obamas red ink by forcing some $38 billion in cuts. Such supposed slashing means America would borrow just $1,562 billion this year rather than the scheduled full $1,600 billion.
The administration expects that someone will have enough money to float us $4 billion to $5 billion a day in loans---
Obama borrowed more in the month of February alone ($223 billion) than did the spendthrift George W. Bush during the entire 2007 budgetary year ($163 billion). Obama recently asserted that not authorizing a lofty new national-debt ceiling would be partisan recklessness. He should know. In 2006, then-senator Barack Obama voted not to raise the debt ceiling and railed against out-of-control government spending under the Bush administration. But then, the annual deficit was one-fifth of what it is today. Apparently President Obama lives in an alternative universe from the one Senator Obama used to inhabit.
Gas is heading toward $4 a gallon nationwide and might reach $5 by Labor Day. The world price for a barrel of oil is well over $100 and climbing. In response, Obama praised Brazil for developing a vast new offshore oilfield and promised that the United States would readily buy the oil it produces.
Fantasy apparently seems preferable to reality. In our new dream world, borrowed money need not be paid back. Cars may run on nasty gas, but only if it is produced in faraway places. Mean dictators should flee when told to leave. And radical Muslims are not really trying to kill us."
Obama
"Obamas Dreamland
From the national debt to Libya, the political class is asleep at the wheel.
Barack Obama just gave a belated but stern warning about escalating debt a few weeks after he presented a 2011 budget with a $1.6 trillion deficit, the largest shortfall in American history. Congressional Republicans are now crowing about reducing Obamas red ink by forcing some $38 billion in cuts. Such supposed slashing means America would borrow just $1,562 billion this year rather than the scheduled full $1,600 billion.
The administration expects that someone will have enough money to float us $4 billion to $5 billion a day in loans---
Obama borrowed more in the month of February alone ($223 billion) than did the spendthrift George W. Bush during the entire 2007 budgetary year ($163 billion). Obama recently asserted that not authorizing a lofty new national-debt ceiling would be partisan recklessness. He should know. In 2006, then-senator Barack Obama voted not to raise the debt ceiling and railed against out-of-control government spending under the Bush administration. But then, the annual deficit was one-fifth of what it is today. Apparently President Obama lives in an alternative universe from the one Senator Obama used to inhabit.
Gas is heading toward $4 a gallon nationwide and might reach $5 by Labor Day. The world price for a barrel of oil is well over $100 and climbing. In response, Obama praised Brazil for developing a vast new offshore oilfield and promised that the United States would readily buy the oil it produces.
Fantasy apparently seems preferable to reality. In our new dream world, borrowed money need not be paid back. Cars may run on nasty gas, but only if it is produced in faraway places. Mean dictators should flee when told to leave. And radical Muslims are not really trying to kill us."
Obama
