Obama Took a Recession from Bush and is Using it as a “Crisis” to Wreck America

Obama Raises 2010 Deficit Estimate to $1.5 Trillion (Update3)
Aug. 25 (Bloomberg) -- U.S. unemployment will surge to 10 percent this year and the budget deficit will be $1.5 trillion next year, both higher than previous Obama administration forecasts because of a recession that was deeper and longer than expected, White House budget chief Peter Orszag said. source

What This Means

This is over three times the Bush deficit of $459 billion in FY 2008. Everyone but the loony leftists and the disloyal socialists in our country know that to generate more economic activity, more tax revenue, and to reduce the deficits, we must reduce taxes and control government spending during a recession. Obama, being the socialist he is, and his loony leftists supporters in Congress did just the opposite, raised what taxes they could and increased spending to insane levels. The results; unemployment skyrocketed to 10% with no end in sight and the deficit grew to 3 times the Bush deficit in 2008. Federal tax revenues are plummeting.

Our gross domestic product (GDP) the sum of everything we do from farming, manufacturing, services, etc., all income, all products, property, investments, – everything will be about $12 trillion or less in 2009 and it’s still declining.

How are the Leftist Loonies and the Socialist President Responding?

Those without honor or decency fall back on the tried and true. Lie like a rug and blame someone else for your incompetence and mistakes. Expect to keep hearing a chorus of “It’s Bush’s fault! It’s Bush’s fault!” Nobody can lie like the leftists and socialists so expect the MSM to write hundreds of articles blaming everything on Bush and saying the only solution is to spend untold $trillions more on socialized medicine to “save money”. It is impossible to save by spending more, especially when you are borrowing the money to spend.

And you know what? I bet the $1.5 trillion dollar deficit estimate turns into $2 trillion or more when the truth comes out. By the way, you could confiscate every cent of the “rich” in America and not make up for the rising debt. So taxing the rich is not a solution, it is another lie and a cover mantra for incompetence and dishonesty. There is not enough wealth in America to sustain the insane spending rates and the huge deficits. You could tax all of the income of all of the people, rich and poor, and still be in the hole.

The Only Possible Solution

We need an amendment to the Constitution to force a balanced budget on the federal government. And, we need harsh penalties (such as personal fines or removal from office) for overspending on purpose or by accident or incompetence. The amendment should state that in time of war and a limited number of other specified national emergencies there could be deficit spending if approved by 3/4 of the Congress and signed by the president.

A second critical national need is a flat rate income tax so that everyone in America pays some taxes. Those who escape taxes and live off the work of others are not really fully participating in the American system. They are participating in a parasitic sense by living off or others, but they are not participating by supporting their country. As a result, they don’t have as much of a stake in saving America as do those paying income taxes. I’m sure the demagogues will want to keep the progressive nature of our income taxes and this is probably unavoidable. But there should be no exceptions to paying some income tax. All citizens should have a stake in America.