The courageous, honest words of a man who will be inaugurated this weekend as the President of the United States. With wisdom like this, how could the country go wrong? The spending won’t matter until it matters. The entire world has watched the United States add $10 trillion of debt in the last 12 years through money creation, interest rate manipulation, currency debasement, inflation and accounting fraud without destroying ourselves. YET.
Now Japan, Europe, China and other countries around the world are simultaneously attempting the same solutions. It will not end well. So we will keep spending, borrowing and printing until the entire Ponzi scheme collapses in a giant implosion. Then our beloved leader will use his emergency powers to save us. Now hand over your guns.
Federal spending is limitless and lawless
Friday, January 18,2013
“We don’t have a spending problem.”
Those soothing words are apparently none other than President Barack Obama’s. As the Wall Street Journal’s Stephen Moore reported, House Speaker John Boehner says that Obama insisted to him that America has a problem with healthcare, not federal expenditures.
Maybe the spendaholic-in-chief is missing something. America is being tortured by a free-spending federal government that acts irresponsibly on good days and illegally on bad ones.
In just the first quarter of fiscal year 2013, Washington dug Americans $293 billion deeper down the hole, the Congressional Budget Office announced Jan. 8. That pace likely will make this the fifth consecutive year with a federal deficit exceeding $1 trillion. This was obscene enough when President George W. Bush botched the 2008 financial meltdown. Since then, Obama gleefully has frolicked in red ink.
Also, federal welfare spending is set to increase 80 percent through fiscal year 2022 and total $11 trillion. What fuels this explosion in the dole? According to a Jan. 15 analysis by Senate Budget Committee Republicans, bureaucrats use “aggressive outreach to those who say they do not need financial assistance.” Also, “recruitment workers are even instructed on how to ‘overcome the word “no”’ when individuals resist enrollment.”
This week, the Republican-led House approved $33 billion in Hurricane Sandy assistance. This sum, atop another $17 billion, includes such non-sequiturs as $10 million for FBI paychecks, $50 million to plant trees around America, $150 million for fisheries and $2 billion for interstate highways.
Enough wobbly Republicans joined spend-happy Democrats to save these and other slabs of pork. Republicans should have used this legislation as a tutorial on limiting disaster relief to relieving disaster, not opening the vault to those with the stickiest fingers.
Meanwhile, Washington’s record-shattering profligacy may be less frightening than its burgeoning lawlessness. Legal, schmeagle. Washington does whatever it wants.
- Senate Budget Committee Republicans report that the departments of Agriculture and Homeland Security “have promotions to increase the number of immigrants on welfare despite legal prohibitions on welfare use among those seeking admittance into the United States.”
- Congressman Tom McClintock, R-Calif., complains that Congress routinely spends tax dollars on programs whose legal authorization has expired. This is like using a company credit card years after you were fired.
Last year, McClintock tried to cut about $250 million from the International Trade Administration. “The ITA’s authorization lapsed in 1996 — 16 years ago,” McClintock marveled. “It has not been reviewed or authorized by Congress since then, but we still keep shoveling money out the door.”
The 1985 Balanced Budget Act requires that authorizing legislation “be in place before the regular appropriation bills can be considered” by Congress. Nonetheless, the CBO confirmed last year that “Congress has appropriated about $261 billion for fiscal year 2012 for programs and activities whose authorizations of appropriations have expired.” These included $3 billion for Community Block Grants, $24 billion for No Child Left Behind and $31 billion for the National Institutes of Health.
These and other initiatives may have merit. If so, Congress must reauthorize them, so that they are rooted in the law, rather than inertia.
- For its part, the Democratic-run Senate is a crime scene. The Congressional Budget and Impoundment Control Act of 1974 compels senators and representatives to pass a budget each year by April 15. Whatever. The Senate has not enacted a budget since April 29, 2009. (The GOP House did so in 2011 and 2012.) Too bad this law is toothless.
Rather than huddle with Republicans to rescue America from this mess, Obama is as petulant as ever. He refuses to bargain with Republicans, saying they simply should raise the debt ceiling without restraining spending. Obama said he would not “have that negotiation with a gun at the head of the American people,” presumably with GOP fingers on the firearm. What vulgar rhetoric, post-Newtown.
Finally, what about the national debt of $16,456,185,258,774 and counting? Like Old Man River, it just keeps rolling along.
New York commentator Deroy Murdock is a nationally syndicated columnist with the Scripps Howard News Service, a Fox News contributor and a media fellow with Stanford University’s Hoover Institution on War, Revolution and Peace.
AWD says:
“We don’t have a spending problem”
“I will protect the middle class”
“The economy is recovering”
“We are creating jobs”
“Food stamps, welfare, and disability stimulate the economy”
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19th January 2013 at 11:03 am
AWD says:
Smokey’s favorite financier with a great video about the coming collapse of Japan:
“Detonating The Japanese Debt Time Bomb” With Kyle Bass
http://www.zerohedge.com/news/2013-01-18/detonating-japanese-debt-time-bomb-kyle-bass
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19th January 2013 at 11:21 am
AWD says:
“- Senate Budget Committee Republicans report that the departments of Agriculture and Homeland Security “have promotions to increase the number of immigrants on welfare despite legal prohibitions on welfare use among those seeking admittance into the United States.”
And Harry Reid is trying to get 11 million illegal aliens citizenship so they can get on welfare (and further augment the democrat voter power base). How much is 11 million more people on welfare, SNAP, free housing, healthcare, Obamaphones gonna cost? These democrat criminal fucks will keep borrowing and spending and building the FSA. Forward!
Sen. Harry Reid: No immigration reform bill without citizenship
Senate Majority Leader Harry Reid is drawing a line in the sand on any congressional immigration reform proposals: No citizenship, no bill.
“There will be nothing done in my Senate [on immigration reform] without a pathway to citizenship,” the Democrat told the Las Vegas Sun on Thursday.
This could be a problem in the Republican-controlled House, where members have expressed reservations about letting any of the estimated 11 million illegal immigrants who could benefit from an immigration reform bill become citizens.
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19th January 2013 at 11:25 am
AWD says:
Via Mark J. Grant, author of Out of the Box,
The United States is in Trouble
We make more than we’ve ever made, we owe more than we’ve ever owed, and we have less than we’ve had in decades which is distributed to those that did not earn the money. This is a working definition of Trouble. The stock market is at an all-time high while the financial condition of the country has seriously deteriorated. We are printing $90 billion a month of little green pieces of paper while the Democrats yell at the Republicans to up the debt ceiling as they want to spend even more money to promote social welfare programs. We cannot afford the bills that we have now and we are being asked to add more to them. This is a recipe for disaster and I am reminded of those months right before the financial crisis of 2008/2009 where no documentation loans for Real Estate flourished and easy money was the normal course of things.
Perhaps the landscape has shifted from “money for nothing” for property to “money for nothing” for our national debt. Fiscal responsibility has evaporated in a grand scheme to get voters and Obama has put the Chavez Plan in place which appeals to the poorest of citizens, hands them money and expects their support at the polls. Hard work and earning a living are the ethics of past generations that are slowly being ground to dust in the flurry to socialize America and re-distribute wealth and having succeeded and having money is now thought of as a crime not far behind rape and arson. The White Knight is walking backwards and the Red Queen has lost her head and the Mad Hatter is in charge of the tea party.
“The trouble with practical jokes is that they very often get elected.”
-Will Rogers
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19th January 2013 at 11:43 am
KaD says:
My SO is furious this morning about paying state taxes after he found out Colorado is paying tuition for illegal immigrants. Yeah, no spending problem here. Move along, nothing to see…
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19th January 2013 at 11:49 am
AKAnon says:
AWD-Thanks for the KB link. Of all the things I am grateful for learning from Smokey, turning me onto Kyle Bass is the biggest. That guy is sharp, and cuts through the bullshit so even a non-finacial guy like me can get it. Best wishes wherever you are, Smokey-One of a kind.
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19th January 2013 at 1:42 pm
Ron says:
So his plan to run the country into the ground is in full swing. Rights and guns.So when it all collpases you have a nice unarmed populace,dependant on uncle sam.
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19th January 2013 at 3:39 pm
s. petersen says:
You say, a man who bails out banking scumbags is throwing away tax payer’s money. You say, a man who sends checks to those who do not produce enables them in their sloth. You say, there’s not much left to go ’round. . .
and we’re living in a land of delusion.
YOU SAY THE PRESIDENT IS JUST PLUMB CRAZY!!!
Maybe he’s stupid
Maybe he wants to get re-elected
Maybe he knows something we don’t
What if something coming down the pike is so F-ing seriously huge it will render our money squabbles meaningless in the blink of an eye? What if only a few people knew? I’m kind of wondering why a site like zero hedge has not covered this possibility as they will entertain any and all wild-ass ideas. It’s time for us to get together on these things. If a man’s job leaves the country, where the f*** is he supposed to work? While the big money men are looking for places to stash their cash to avoid paying taxes they tell us the sheeps that union’s are the real problem. Take Wonder Bread for example – according to news articles, the unions wouldn’t give up concessions. According to others, they had already given up one third of their benefits and pay – and management gave up nothing – when they went bankrupt. The world is truly a sadder place without zingers. If only I had a box of zinger’s I would be
happy, the sun would shine, birds singing, la de da. Seriously.
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19th January 2013 at 8:27 pm