I wake up this morning. Open my web browser to check my e-mail. I just happen to glance at the top political news story on my Google home page and see the topic: "House Passes $3.6 Trillion Budget Plan". First thing that came out of my mouth are the words in the title of this post.
So, since Obama's inauguration he has pushed one $800 billion "Bailout Plan" through Congress, which almost doubled our national debt. This I find ironic, simply because... how the hell is this going to get us out of a recession? Use freshly printed currency that has no value, and distribute it among giant corporations that immorally split up the funds given to them amongst the top management and lobbyists. The tax payers will soon have to pay increased taxes in order to "repay" the government for doing this. The only way for a country to bring its economy from a recession or depression is to provoke increased spending in the private sector (ie: you and I, the low man on the totem pole). This must happen via massive tax breaks to allow us to have an increased buying power in the market. This "Bailout Plan" has no logic, because the corporations will eventually have to pay back the debt over time. This will lead to added costs and fees on the goods and services of companies that accepted this Federal Funding. So the little man loses out twice: increased taxes to compensate the gov't. and increased prices on goods and services from these companies to enable them to better pay off this additional debt.
Now... we come to this jaw dropping atrocity of legislation. The $3.6 TRILLION budget plan to increase education, cleaner energy, and (the big boy) Socialized Healthcare.
Ok... so within the first 50 - 60 days of Obama being in the White House, he had almost doubled our national debt by introducing the original $800 billion bailout. He entered office with a $1.3 trillion deficit. This brings our current (but not shown yet) national deficit to $2.1 trillion. With the introduction of this bill for universal healthcare (and if it passes) will bring our national debt to $5.7 Trillion, within his first year of being in office. This would mean that Obama had increased the national debt by nearly 3.4x of the original $1.3 trillion that he entered office with. The discussion of whether or not socialized healthcare is efficient is another issue, and I will elaborate on this topic in a later post. But I just wanted to make a point that you and I, along with many others, are paying off the enormous national debt with so many taxes and fees. Now with this gigantic number being added onto the plate... you, me and everyone else in similar social status are, to say the least, ...fucked (more than we ever were before).
For anyone interested on reading the news post on this healthcare bill that's being rushed through Congress, please refer to the first paragraph and click the title in quotes that I have hyperlinked.
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this is astounding. . ridiculous and many other things. . but i am really not surprised. people are truly getting what they asked for with this guy.
ReplyDeletei think the economy will completely collapse within Obama's first term, which makes me hopeful that people will be more willing to listen to someone like Ron Paul the next go around. i can hope anyway.
PS: sorry i couldn't chat last night. i really was too sleepy to be coherent. lol