15 June 2009

The Obama Debt: Something New, Something Old

[Obama and] the feds have their hearts set on preventing a depression. And they’re doing it the only way they can…by the old “hair of the dog” technique. The economy suffers from too much debt – so they’re going to give it more! Much more. The whole pooch! The whole kennel! Then, they round up every stray mongrel in town. What happens when they run out of dogs? Well…that’s a discussion for another day. _SeekingAlpha
Obama zombies want you to think the worsening financial disaster is "Bush's fault." They rode that horse all the way from Chicago to the White House, and they intend to ride it until it drops dead. The graph above tells a different story.

The reality is much worse than the graph, of course. It was obvious as far back as the 1970s that Medicare and Social Security were on an unsustainable trajectory that would break almost any conceivable budget. Even without the subprime crisis brought on by the bank demolition squads unleashed in the dying days of Bill Clinton's term, the debt crisis was bound to hit the US before 2025.

Obama has accelerated that process ten times over, and is bringing the debt crisis rapidly forward to the present day. The Obama debt expansion express shows no sign of slowing down. As long as enough suckers are distracted by the "Blame Bush" campaign, and fail to see that the bulk of the "Blame Bush" debt was already programmed into the system by Clinton and earlier administrations, Obama will be free to wreak his havoc and continue to explode the debt at an unprecedented rate.

The news media has been in thrall to Obama since early in the campaign, and shows no sign of having an attack of objectivity any time soon. You will not understand what is happening unless you look beyond the smoke screen to understand how you are being hoodwinked, hornswaggled, and bamboozled by Brocko the Clown and his gang of cutpurses.

Oh, and that graph above? Forget about the short term reversal of trends in rate of deficit accumulation. Its all uphill from now on, as long as Brocko runs The Outfit. Brocko don't fool around.


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“During times of universal deceit, telling the truth becomes a revolutionary act” _George Orwell

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