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Obama the deficit hawk

By: Dan Spencer (Diary)  |  February 14th, 2009 at 12:30 PM  | 

RESIZE: AAA

“We are not going to be able to perpetually finance the levels of debt that the federal government is currently carrying.” — President Obama, February 12, 2009

That was yesterday, before the Congressional Democrats and three Senate Republicans gave President Obama his national debt-busting $787 billion bailout boondoggle, which will actually cost $3.27 trillion.

Deficit

Now, with his so-called “stimulus” in hand, Obama will morph into a deficit hawk.

Obama’ has scheduled his “fiscal-responsibility summit” for February 23, and according to the Wall Street Journal, three days later, Obama will start to pressure politicians to address the country’s debt crisis.

Oh the irony hypocrisy Obama. How does this president get away with having everything both ways?

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  • http://www.hakubi.us/ Neil Stevens

    He only gets away with anything if he wins re-election in 2012.

    • zsmvf6
  • http://www.lonestarlizard.com/ LoneStarLizard

    When the media is shilling for you, there is no end to what you can get away with.

    • http://www.hakubi.us/ Neil Stevens

      Carter got tossed. Clinton stayed in office but was castrated policy-wise after only two years in office.

      • http://www.realityunwound.com realityunwound

        This is what the “stimulus” brings you. As the economy continues to slump, point point point and call it what it is.

        Of course, there needs to be a rabid, radical return to Reagan-esque fiscal responsibility.

  • redneck_hippie
    • 1SGinTN

      Let’s just make sure everybody understands the rise above the surplus line was not “because Clinton was president”, but a Conservative Republican Congress was in session.

  • CSUFBomb

    …his full name is The One-Term President.

    • redneck_hippie
    • Achance
  • reddog53

    This is pretty amazing, but becoming par for the course.

    A couple of other quick facts from the 2006 IRS statistics:

    To pay for the roughly $1.2T for the stimulus bill (original+ interest), you would have to seize 100% of the adjusted gross income of ALL of the 338,000+ returns filed in 2006 with more than $1M in AGI. Many of these returns are actually small businesses and farms, filing as LLCs.

    Alternatively, it would take 100% of the adjusted gross income of over 26 million returns filed with AGI less than $75K in income to pay this bill.

    Another way to look at it is to realize that it would take roughly ALL the income taxes paid by ALL individuals for the next 2 years just to pay for the stimulus.

    And now the President realizes that it’s too much???

    • redneck_hippie

      resonate with the people if we had mainstream journalism in the country.

  • Swamp_Yankee

    That is all this is. Create the debt through socialistic spending. Cry foul. Demand the rich pay for it because it is the right thing to do.

    I beginning to think he really is th manchurian candidate.

    • http://www.fredmaidment.com Fred Maidment

      n/t

  • EagleWatcher

    It’s not fair that all you Republican business people should be so affluent and all these Democrat voters should be so poor.

    It’s just not fair….

  • itrytobenice

    trying to explain how I’m going to make you all stop drinking tomorrow.

    • http://www.fredmaidment.com Fred Maidment

      nt

  • Jack_Savage

    He will appoint a “bi-partisan” commission headed by Arlen Specter to “take a serious look at how we can take action to reduce the deficit, starting with spending on defense.”

    Orwell simply would not believe what is going on.

  • tjexcite

    How does this president get away with having everything both ways?

    He will blame Bush and GOP with the MSM agreeing with him

  • http://www.ssce.net/Web-Articles/Web-articles-indexed-authors.html#authors-l JLenardDetroit

    .

    Obvious to see his plan… front load all this spending and most the fools will have long forgotten by his re-election run time…. when we remind folks about the spending spree he’ll blame Bush first and Congress – he was just along for the ride and “had to do it” because he just got into office and inherited Bush’s …. blah, blah, blah… yadda, yadda, yadda….. Democrats are so STUPID (as are far too many others) and will lap it up again!!

    • 6eorge Jetson
  • wolfgang

    …a patriotic tax increase.
    The one thing thatdrivesTHE OBAMBI administration is the transfer of wealth and income. ie Robert Reich and his remark that he doesn’t want one cent of the stimulus package going to white male construction workers.
    Count on it, for the next four years ACORN will play while you pay.
    In the end, THE OBAMBI could end up setting race relations in this country back sixty years. That may be the reason he needs his Civilian National Police Force so much. Think of the prospect: thousands of internment camps for white American dissidents, those who discerned what THE ONE was up to and dared to speak up.