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Wednesday, February 18, 2009

Obama's Trickle Down Economics, and why Bernie Madoff has nothing on Barack Obama

Trickle Down Economics isn't simply a conservative theory, it's also a liberal one. The difference is that the liberal version of Trickle Down Economics involves taxing the public to death, and having Congress trickle down some of the money back to the public, in between massive doses of pork and waste. Obama's Stimulus Plan is a perfect example of Liberal Trickle Down Economics.

And what is Obama's deficit spending spree motivated by? By the liberal theory of Trickle Down Economics which claims that rolling out hundreds of billions for every congressman's pork project, including protecting endangered mice, encouraging energy efficiency and giving millions in NEA grants will somehow trickle down to the average American and stimulate the economy.

If conservative Trickle Down Economics was challenged as delusional and an excuse to stuff the pockets of fatcats, liberal Trickle Down Economics is even worse. If giving business a break improves the odds that the economy will get a boost, expanding government projects only takes more money out of the economy to fund the endless spendathon of Washington D.C. politicians.

Corruption just doesn't get any more corrupt, and derilicition of duty doesn't get any more criminal, than a government faced with a recession, indulging its worst appetite for pork and graft, and trying to pass the whole thing off as a way to save the economy. Bernie Madoff has nothing on Barack Obama and Nancy Pelosi. At least Madoff had a working pyramid scheme going, the Obama government is destroying the one working pyramid scheme the government has, Social Security, carrying out a massive generational theft in order to give kickbacks to every scumbag who put Barry Hussein and the Congress of Corruption into office.

It's a bitter irony that the same twenty-somethings who frantically cheered Obama and worked to stick him into office, can kiss any chance of seeing a penny from social security goodbye. By the time the 4 years of Obama are done, we'll be lucky if there's enough left to cover a few anacin.
 
It's always a source of wonder to me how anyone in their right mind can seriously argue that the government is better at anything than the free market. Not only is government control synonymous with an embedded bureaucracy and a culture of failure the world over-- but it's even synonymous with that in the United States.

The same government which advocates of Nationalization are counting on to curb the excesses of the Free Market is trillions of dollars in debt. As bad as any of the banks were, the Federal Government is far worse because it is deeper in debt and has far less to trade on. The government's primary source of revenue is taxation. The government itself does not produce revenue, it consumes it. And all that revenue still isn't enough. Obama has already ushered in a 1.2 Trillion dollar budget deficit for this year alone, and that may not be the worst of it yet.

Bernie Madoff convinced investors to climb on board with his pyramid scheme. The Federal government convinced China to buy US Treasury Bonds, even while the national debt has hit an all time high. Both parties are busy trading blame, when all politicians who view public tax dollars as being theirs to do with as they please, are to blame. But where Madoff was one man, Congress consists of hundreds of men and women, backed by hundreds of thousands of aides, lobbyists, activists and bureaucrats all pushing for more and more spending.

If a corporation that was already 11 trillion in the hole, and then rolled out more deficit spending, there would be calls for an investigation and shareholder demands that the board be held accountable. But that is exactly what's happening at the Federal level. Pork in the public interest is bad enough. Pork in the public interest when you can't pay the bills compounds fraud with incomprehensible negligence.

Pile more talk of nationalizing banks on top of that, and the picture gets genuinely ugly. While Obama's apointees talk about controlling banks, controlling car manufacturers, controlling other countries and national health care, they can't even control their own spending. The Cabinet of Fraud, whose nominees can't even seem to pay their own taxes, are spending the public's taxes even when they don't exist.

Forget national health care. Forget nationalizing the banks. Maybe the Federal government should demonstrate that it can control its own spending, before it tries to seize control of anything else. It's time for some common sense and some basic economizing. You can't spend money you don't have, and you can't put money back in the economy, by seizing most of it, and trickling down some of what's left to the public. And doing all that while spending yourself into a deficit.

Obama's Trickle Down Economics is bankrupt before it started. With only a few weeks in office, Obama has stuck America into a 1.2 Trillion dollar deficit in this year alone. An achievement the press is hailing as if it was up there with hitting a home run, instead of committing fraud on a grand scale. No Bernie Madoff doesn't have anything on Obama after all.

7 comments:

Anonymous said...

Maybe Bernie will be appointed to a cabinet of corruption post.

Lemon said...

Well Chicago and or Illinois politics is very corrupt and always was.

Keli Ata said...

As Obama said when he signed the stimulus package--this is the beginning of the end.

Naturally he meant it to convey optimism that the bad times were ending but I took it another way.

Seeing the fiasco the federal government has had in managing even the simple digital converter box coupons (they've run out of money, won't renew expired coupon etc etc) I sincerely doubt they could manage something much more important.

And the entire digital conversion is working out either--converter boxes not working, people needing to purchase $200 roof antennas, get cable or satellite service, or buy a new TV with a digital tuner.

Even those with cable and satellite are having problems.

Free digital TV isn't free.

BTW/OT: I wonder what the deal is lately with so many places offering cash for old gold.

Gold is apparently becoming more valuable than paper money.

navyvet48 said...

All the reasons you mentioned in this post are exactly why I call all of Congress Corruptocrats now. It started with just the Dems but I am adding the Republicans to that group. I think most of Congress, Obama and his cabinet are all corrupt on one level or another!

susan h said...

Is there any OVERSIGHT to this spending package? Since no one has read the entire bill and it seems there are probably provisions in it for any kind of spending any one would want from now until doomsday, it appears the democratic congress can reach down and pull out taxpayer money whenever and wherever it wants. WHERE IS THE OVERSIGHT ON THIS? All they need to do is say it was/is in the bill and pay for whatever they want. Who will be overseeing the money being spent as we go on, Tim Geitner, who willfully and knowingly did not pay taxes? This scheme is outrageous. When you mention Social security, my skin starts crawling as retirement is not too far away, or so I thought.

Obama is running off on holiday to Chicago after working for a few weeks (at taxpayer expense). I cannot now go on holiday (my family is out of town and yes, I would like to visit them, but it is too expensive to do so.) No one gets a vacation after 3 weeks of working, except Barack Obama. It seems being in Washington and being forced to sit in the Oval Office for a few weeks is just too confining for the Chosen One. This little holiday jaunt cost the taxpayers a pretty penny and is just the beginning of his brazen wasting of our money for his pleasure. Sorry, everyone needs a vacation but his traveling around, wasting jet fuel and paying for his entourage's expenses makes me upset at this time. The democratic party has perpetrated a massive fraud on the American people. They should know better after watching republicans do it for so many years. Yet they make republicans look like kindergarten.

Keli Ata said...

Good observation, Susan. Yes, if this were a Repulican taking off for a vacation after three weeks in office people would be screaming their heads off.

It's too expensive, not warranted after just three weeks on the job and frankly, grossly insensitive when Americans are struggling financially. It smacks of the same arrogance of those GM executives who flew in to Washington on private jets asking for a bail out.

The Chosen One also wants a brand-spanking new fleet of eight Marine One helicopters. Eight! Just travel across the US and Canada.

Now that he's won the election the poor little rich boy feels free to indulge himself one the taxpayer's dime.

Barack Obama has no sense, no sensitivity and no class.

Anonymous said...

Oversight? Of course not! And even if there is to be "oversight", who will be responsible for it... the same government that got us into this mess?!!

"Oversight" is just another word for "corruption"

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