"A government big enough to give you everything you want, is big enough to take away everything you have"
Thomas Jefferson

Wednesday, August 12, 2009

Its A Record!

The CBO has announced that spending by the Great One and his administration for bailouts, clunkers program, etc. along with the lack of revenue has soared the federal deficit to new heights - $1.300,000,000,000 (T-trillion).

The deficit that reach $455 billion by September 2008 is now projected to be 4 times that amount and reach $1.8 trillion by September of 2009.

During the month of July alone the Democrats grew the deficit an additional $181,000,000,000 (B-billion) for a single month.

According to TheHill;
"Spending through July of 2009 has increased by $530 billion, which is 21 percent over the same period in 2008."
Yet, Democrats just want to keep racking up the deficit numbers by spending including this little nugget in the health care bill.

Under the Senate Health, Education, Labor, and Pensions Committee’s “Affordable Health Choices Act,” local governments can apply for “community transformation” grants to build jungle gyms, sidewalks, bicycle paths, and grocery stores, to install streetlights, and to establish new farmers’ markets.  

8 comments:

Anonymous said...

Well we all need street lights,It will help illuminate us when the lights go out. And investing in farmers markets, why? just 2-3 months ago obama & FDA wanted to shut them down because the food could not be tested to be safe.Seems to me they have more trouble with government controled food products than field fresh.It seems like they just want to get rid of money anyway anyhow just spend it.

Dan Francis said...

Spending! What's that? Who cares?

We about to spend ourselves out of debt ($12 trillion), and bury the $1.3 trillion deficit along the way back to prosperity, and keep China in the wings for more loans (just in case), right?

Right ... (think again)!

Anonymous said...

This is all the fault of George Bush.

hermit thrush said...

by some measures, the shock to the economy associated with this recession was even greater than that of the great depression. yet this time, it certainly appears that we've averted disaster.

the difference? fiscal stimulus, i.e. deficit spending.

i don't mean to say the massive federal deficit is intrinsically a good thing. the point is that it's far better than the alternative: the implosion of the economy in a deflationary spiral. so yes, thank god we're running big deficits right now.

Anonymous said...

Frog,

you are quite the economist. We will follow you leap leap

Anonymous said...

Right on, Hermit Thrush!

You're dealing with some small thinkers (re: Republican'ts) so it's an uphill battle.

Any good economist will tell you that it's necessary to spend more money now so that we can spend less money later. It's a crisis and we have to pull out all the stops to prevent it from becoming a catastrophe.

Anonymous said...

"I don't mean to say the massive federal deficit is intrinsically a good thing."

Well, that's good Frogger. We're all pleased that you're with us on that one.

What the hell are ya supposed to say to this guy? And Klerm, please leave God out of your arguments.

Anonymous said...

11:58 AM
Looks can be very deceiving. Don't forget it! Many wiser than we men feel they have only put off the inevitable outcome. Someone has to pay for all this stupidity eventually. So in the meantime I will hope for the best and prepare,prepare,prepare and prepare some more for the worst.The worst is yet to come.

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