Obama’s Math Morons
By Larry Johnson on March 21, 2009 at 4:50 PM in Current Affairs
Anyone, and I repeat for emphasis, ANYONE, who accepts the Obama excuse that Bush deficits are to blame for the current economic woes and then blithely accepts the proposed Obama federal budget is a math moron. If you accept his blather you are ignorant, lazy, stupid or just hell bent on sundering the U.S. economy.
Harsh? You betcha. But here’s why I’m so insistent on this point.
President Obama is right about one thing–the unrestrained, irresponsible spending approved by President Bush and passed by first, a Republican controlled Congress, and second, a Democratic controlled Congress, created an enormous Federal debt and onerous budget deficit. According to the Congressional Budget Office, during 2007 and 2008 George W. Bush signed off on legislation that increased the Federal budget deficit by almost 700 billion dollars for those two years. Okay? In 2008 alone the the deficit approached 500 billion.
Now follow this logic. Barack Obama whines incessantly about the awful, horrible, terrible position his Administration is in because the Bush Administration spent more money than it took in. So far, I agree with Obama.
What does he propose? Increase the budget deficit from 500 billion to $1.85 trillion dollars. He is increasing the deficit by almost a multiple of four. Based on a population estimate of 300 million Americans, that works out to adding $6166 dollars of debt to every man, woman and child in the United States. That’s the estimate for just this year. If you are married and have two children you are adding almost $25,000 to your debt burden. At the end of the day this deficit will be paid for by the American people.
But wait, Barack gives us the sunny promise that he will cut that deficit in half. Okay, here is where we find out if you are a math moron. If you quadruple the deficit to 1.85 trillion and then cut that in half, what is the result? Got it? $925 billion dollars. That is still almost double the deficit poor whiney Barack inherited from that bad Mr. Bush.
Washington Post has an excellent rundown on this fiscal sleight of hand:
President Obama’s ambitious plans to cut middle-class taxes, overhaul health care and expand access to college would require massive borrowing over the next decade, leaving the nation mired far deeper in debt than the White House previously estimated, congressional budget analysts said yesterday.
In the first independent analysis of Obama’s budget proposal, the nonpartisan Congressional Budget Office concluded that Obama’s policies would cause government spending to swell above historic levels even after costly programs to ease the recession and stabilize the nation’s financial system have ended.
Barack, as President, is acting like every other damn fool American who went out and borrowed money they could not repay. He is taking out a home equity loan that costs four times what the house is worth.
I know something Barack does not. I have firsthand experience living in a country that spent money it could not afford to repay. I lived in Argentina in 1984 and 1985. During the 1970s Argentines enjoyed a strong currency and went on a spending spree and borrowed money they could not repay. The second largest city in Argentina, Cordoba, offered daily flights to Miami and Houston so your average Argentine citizen could go buy crap in America. It is a nine hour flight, yet middle class Argentines were queuing up to make the trek and spend borrowed money. But the debt came due. And when it came time to pay, just like an American who took out a $500,000 mortgage on a house now worth $400,000 and who has been laid off, they could not afford to pay the debt. Burdened by a swelling government deficit the Argentine government could not maintain the ruse and the Argentine peso collapsed. Next thing you know inflation was roaring out of control. It was in excess of 1000 percent a year.
What does this mean? A dear friend of mine who was a baker sold his house in 1983 for 50,000 pesos. By October of 1984 50,000 pesos could buy you a half-liter bottle of Coca Cola. The money he got for his house was virtually worthless.
This is where Barack Obama and his team of mental midgets are taking us. Been there, done that. I am preparing for the inevitable. Meanwhile, this golden child from Illinois who relies on good looks and a teleprompter to try to bamboozle the American public is in over his friggin head and is to dumb to realize he is jumping into deep water wearing concrete boots. Regardless of his good intentions, his budget is fiscal suicide for this country and its people.
, the basis for the Best Motion Picture Nominee (Golden Globes) starring Brad Pitt.
, the novel by John Le Carre, a new motion picture starring Gary Oldman and Colin Firth.
by 
* (Included in the 
* 
.by David Fredosso who wrote 2008's 
- You'll have access to 18 million movies, TV shows, songs, magazines, and books, as well as ultra-fast Web browsing with Amazon Silk -- faster than iPad. Full e-mail and document access and a keyboard. Fire can transmit what is on your screen onto a connected TV or monitor without an accessory. It runs Flash (iPad doesn't). 
