Seen on Instapundit, reference to an editorial in USA Today on “Deficit-Attention Disorder”. Very very clever.
In the US the level of debt has just gone over $16 trillion with not a thought in the President’s mind about what he is going to do about it, other than to raise taxes on productive enterprise which will only make things worse. We are dealing with the American mainstream media so the editorial had to begin by placing blame on GW Bush and the Republicans. But it then went on to say this:
If there is a single area in which Obama deserves failing grades, it is his failure to demonstrate serious, sustained leadership on long-term fiscal issues. Call it deficit-attention disorder.
In each year since Obama took office, the government has borrowed, or is projected to borrow, well over $1 trillion, pushing the government’s total debt to $16 trillion, or about $121,000 per household.
The math behind these shortfalls is plain to see. On Obama’s watch, the federal government has been spending at a rate equal to 24.4% of the economy (the highest rate among presidents since World War II) and taxing a rate of 15.4% of economy (the lowest of any post-war president).
The only issue is, in what area should Obama be given passing grades? None I can think of although it is true that he has probably knocked a couple of strokes off his handicap.
But, I ask you, what news outlet could Lefties believe to break the news that yes, Obama is a fuckwit, and yes, everyone who voted for him was utterly conned?
perturbed
6 Sep 12 at 7:58 am
The problem that the lefties have on this issue is that they loudly proclaim that the change in rate of spending under Obama is lower than under the previous administrations, so he is therefore fiscally sound.
Never mind that the rate at which things are going backwards is high and now constantly high.
But hey, he’s not increased the rate, so everything is ok.
And that line can pass the average punter who doesn’t get the difference between speed and acceleration when it isn’t in terms of how fast a car is travelling.
Driftforge
6 Sep 12 at 10:02 am
“The only issue is, in what area should Obama be given passing grades?”
The Economist gave him an Incomplete for debt/fiscal policy, an F for industrial policy, a D+ for regulation, but all the others were Bs and Cs, apart from an A- in crisis response.
Jarrah
6 Sep 12 at 10:03 am
Well his PR team gets a pass for realizing they couldn’t fill the stadium originally scheduled for Obama’s acceptance speech tomorrow and deciding to move it to a much smaller indoor venue “because of the weather”…..
Umm, this is Florida in the late summer folks. It ALWAYS rains and storms a bit. Don’t tell me you were too stupid to notice that until serendipitously you realized there were going to be one hell of alot of empty seats staring at your boy, and the cameras.
But don’t worry, the MSM is pumping out your excuse as gospel. Only the rest of us know the truth.
Zatara
6 Sep 12 at 11:00 am
Sorry, meant Charlotte, not Tampa. It’s been a long day.
- Tonights forecast: Partly Cloudy, 20% chance of precipitation
- Tomorrow nights forecast: Partly Cloudy, 20% chance of precipitation
- The next night: T-storms, 30% chance of precipitation
Not a tremendous amount of variety this of year. It’s not like they have a Tropical Storm to contend with after all.
Zatara
6 Sep 12 at 11:14 am
I think the election of idiots such as Obama is a salutary lesson for his country. You cannot trust the mainstream media to be impartial anymore; you must do your own research on candidates for political office. And above all you must take an interest in the political process instead of pretending that it somehow doesn’t affect you and you’re above it all. Otherwise you get shit Government.
Blind Freddie could see that Obama was a flake. His campaign was all bubble and froth. Frankly, the Americans deserve all the economic pain they’re currently getting.
Similarly we deserve our ruinous government here. The electorate at large were son interested in “tossing the rascals out” they forgot to take a good long look at the rascals who’d be replacing them.
Lloydww
6 Sep 12 at 11:18 am
Why bring that up? Why not just quote the Australia Institute’s view or the AFL-CIO? I mean really Jarrah.
.
6 Sep 12 at 11:21 am
Raaaaaaaaaaaaaaaaaaaaaaaaaacist…
(In before the Leftist dog-whistlers)
Brian of Moorabbin
6 Sep 12 at 11:23 am
Um okay Julius. Which one do you think will be easier to pay off?
Hint: Who has the capacity to pay off a new, huge debt?
BHP?
FXJ?
.
6 Sep 12 at 11:39 am
What’s your opinion of the ALP’s $250,000,000,000+ deficit during the greatest resources boom in human history? You must be filthy at them.
Infidel Tiger
6 Sep 12 at 11:40 am
“Why bring that up?”
I read it a couple of days ago, and Steve’s question about grades made it appropriate to bring up.
“Why not just quote the Australia Institute’s view or the AFL-CIO?”
If you can’t accept the Economist is centre-right in outlook, and miles away from those organisations, then there’s no hope for you.
Jarrah
6 Sep 12 at 12:11 pm
I’m no economist but in my view it’s dumb to run long term deficits. It’s dumb to pay interest on interest. It’s really really dumb to create a deficit just because you can.
Lloyd
6 Sep 12 at 12:16 pm
Ah yes Jarrah, there’s no hope for me? Where? In the Australian Labor Party?
Sorry Jarrah, I accept AUD, I don’t accept bullshit.
Do you realise how fucking much you’re making me laugh right now? This is comedy par excellence, Jarrah.
.
6 Sep 12 at 12:42 pm
That’s because your heroes are kicking it in the balls, Julius, and have been for the last five years.
perturbed
6 Sep 12 at 9:45 pm