And What About The Economy?

With the Obamacare battle raging, it seems like all else has taken a bit of a back seat. But, the economy is still the number one issue affecting everything else in this country, so let's take a look at it.

Starting off with a bang, the Director of Obama's own CBO said that the federal budget is unsustainable. So never mind him...HOPE! and CHANGE!

Speaking of unsustainable, here is Barack Obama vs. Barack Obama on the intention of the 'stimulus' bill:

Here's another great video that illustrates the trustworthiness of The One's words:

The Obama administration apparently bases its judgment of economic success and recovery on the number of Google searches for the phrase "economic depression". I think that practice is enough to trigger a wave of real depression all across the nation as people realize these are Obama's best and brightest, and they're in charge of the economy.

A large part of the reason that TARP really didn't do much to revive the economy is that most banks didn't use TARP money to buy off those toxic assets; instead, they used it to cover expenses and acquire other assets. What? No transparency or accountability? Huh. Who'da think that?

Moving on...

Anyone who understands economics knows that taxing the 'rich' just doesn't work:

...upper-income people have options. History shows that when tax rates are raised, many will choose to work less (leisure is nontaxable), retire earlier than they had planned and save and invest less in taxable, productive activities. Those making more than $160,000 per year would need to have their taxes roughly tripled to take care of just this year's deficit. (One merely has to look at the tax evasion practiced by the chairman of the congressional tax writing committee, the secretary of the Treasury and the former majority leader, et al. at today's tax rates to know that they and their colleagues, as well as most everyone else, will find either legal or illegal ways to avoid paying the tax.)

Sh! Don't tell anyone in the White House or administration!

And yet, Obama economic adviser Christina Romer wants us to ignore the continuing job losses and just...believe!...in their assertions that they've fixed the economy are correct.

So how much would it cost to 'fix' all the economic woes we're facing? A cool $23.7 trillion, that's how much. And it all comes from the bank accounts of you and me.

And, in keeping with many previous examples you've read on this blog in past months, here are a few more non-stimulating stimulus expenses:

Toilets
Pornography
Non-profit organizations

I suppose you could make an argument that the pornography would actually be stimulating...but you know what I mean! Meanwhile, bridges that are truly in need of repair are being passed over for more desirable constituent groups.

Some good news (unless you're a Democrat): most Americans trust themselves more than the government on economic issues...by 2 to 1! On a related note, 71% of Americans say Obama's the one exploding the deficit. Good to see the Kool-Aid tide is receding at least a little bit. On another related note, most Americans think that whatever money hasn't been spent on the 'stimulus' should be returned to our bottom line. Fat chance of that, with the current crop of Congressional spend-masters! It's a great concept, though.

I think Congress should try it.

There's my two cents.