Obama Is Simply Wrong

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Obama: ‘Trillion-Dollar Deficits For Years’ – Capital Commerce (usnews.com)

Just mindblowing. Here is #44 today (via the AP):

Obama said Tuesday the deficit appears on track to hit $1 trillion soon. Speaking to reporters after meeting with top economic aides, Obama said: “Potentially we’ve got trillion-dollar deficits for years to come, even with the economic recovery that we are working on.”

If Obama really believes that the world economy will tolerate annual deficits north one trillion dollars, he will receive a belated economics education in short order.

Such deficits won’t won’t work. Already investors are losing their fascinations with US Treasuries, realizing wisely that cash is better than zero interest treasuries. Once the treasuries market dries up, the government will have to choose between massive tax increases, which will spawn a deep depression, or massive inflation, will create massive misery.

Very quickly, the government in Washington must come to realize that returning to essential governmental functions–and no more–is the only option.

Begin by dissolving the Departments of Education, Health and Human Services, Homeland Security, and Veterans Affairs. Eliminate the National Endowment for the Arts and the EPA. Not sure we need NASA, but we might be able to find a private buyer.

The Constitution itemizes the essential operations of government in Article I constricted by the Bill of Rights. Read and understand these limited powers–they are in your future.

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One Comments

  • John Galt

    March 15, 2009

    People don’t get it.

    Hussein is not an American!!!

    He may or may not have been born in Kenya, but he is definitely an Indonesian citizen and an American illegal alien.

    He is a black Muslims foreign national Marxist whose goal is to destroy America as we know it and pay the way in America for Sharia law.

    As Osam bin-Ladin said. “The way to defeat America is to weaken her financially”

    Hussein who sits illegally as POTUS put there by left wing hating Americans is out to destroy America.

    Hopefully people will wake up to the fact that Hussein is not wrong. He is smart and his plan is proceeded on track.

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