Tax Revenues Off Yet Obama Is Charging Ahead
2009 August 4
There were reports yesterday that the United States Tax Revenues will experience the greatest decline since the Great Depression. In fact, revenues are expected to be off by nearly 20% in 2009.
Yet, Barack Obama continues to rush headlong into what would be the greatest spending increase in our nation’s history. This is like a family having thousands of dollars in credit card debt, learning that the family’s income has been reduced by 20% and buying a new Lincoln, finishing the basement, putting a pool in the back yard and traveling to Hawaii while the work is being done on the house and yard.
It makes no sense.
What, me worry?
Hat tip: hotair.com
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It will be a rude awaking for the man from Mombassa, or is it Zimbabwe, if Geithner cannot keep the Chinese at bay.
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As goes California, so goes the nation. California’s financial woes only made the liberal harpies scream louder to protect their sacred pork. I presume this will have a similar effect at the national level. In the end, the citizens started realizing they really didn’t give a damn about most of the things the state government does. We can only hope this will have a similar effect.
Sometime things have to burn down before they can be rebuilt. Many around here talked about this in the lead up to the election and we seem to be on the cusp the scenarios that were discussed then.
It’s going to get rough and chaotic, but I don’t think things will turn violent (except in isolated instances). I guess we’ll see.
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The scary thing is how far will the American people go down the path until they realize the mess that we are in? Too far I am afraid.
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It’s been 4 days since a new thread has been posted at Poli. Think the site has officially ceased to exist?
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BC,
You forgot the Health Care downgrade at twice the price!
Lets say Obammy gets all his programs passed. At that point if Americans do anything, say double the tax rates, it will still be financial Armageddon for the Govt. A good chunk of the federal budget is now funded by outsiders. Which means that regardless of what tax cheat timmy does, should the Chinese decide not to buy any more TBills, the govt is toast. Oh sure they could print more money but that is only a short term fix with a long term downside of runaway inflation.
The Govt is already screwed and Bernake/Geithner/Sommers already know it. That Obammy may not is par for the course. Buy your Obama is Hoover buttons now and avoid the rush.
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BC, I have not read PoliP consistently in over a year. Mr. P ought to just save his registration fees and close it down.
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Rasmussen is reporting that 54% of adults now oppose any more money for the C4Clunkers program.
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drdog —>The Govt is already screwed and Bernake/Geithner/Sommers already know it. That Obammy may not is par for the course.
Obama doesn’t look at reality,meaning facts and figures. All he sees is his grand illusions of how he wants to mold a country. Notice how I don’t say his country, as I don’t think Obama holds much affection for America. It will only be “his” America when he can change it to his specifications.
In the meantime the country is weakening and heading towards the drain. People in the treasury sense this, which is why they are giving signs and signals (trial balloons) that everyone, not only the rich, will soon be paying for the mess.
I was listening to an interview with Catherine Austin Fitts, who cuts to the economic chase, and is in-the-know, to boot. She said her sources are saying “insiders” are quietly selling off their stocks in the midst of this stock surge. If they’re doing this, on the inside, it’s not too hard to figure out that they know this is only a sucker rally and not a switch-up to a “bear market.”
I don’t think we have economically hit bottom, yet, no matter how high the DOW is enthusiastically ticking up.
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Oh, and 54% think tax hikes are bad for the economy, 48% think Obama is very liberal and Obama is at -7 today.
48% think American health care is good or excellent. That’s up–people are realizing where we’re heading with ObamaCare.
People are waking up with a start, it seems.
Rasmussen: Daily Presidential Tracking Poll
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INC — Rasmussen is the first thing I opened up this morning, and that high of percentage against the C4C program surprised me. Somehow, I though freebies would have a better reception with the public at large.
This is good! However, just like the govt is spinning the numbers on health care proponents (saying they are in the majority), they will do the same with unworthy program as well.
It is so hard to prevail in such a biased and distorted political climate!
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Jan, the spin doesn’t matter–they can keep lying, but the Dems can read those poll numbers as well no matter what they say to the contrary. I think enough people are aware of the spin and are seeing through the haze.
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INC
It appears that the people words, the polls are flying over politicians heads. While they are aware of them, in kind of an annoying way, I think they are so fluffed with power that many of these egotistical govt people will either rationalize them away, or think that it is just “static” to be tuned out.
After all what do the little people know!
The fuel of leftist politicians is pure “hubris!”
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For all those people complaining about the “racial overtones” of the Joker poster, take a look at this!
George W. Bush: comic-book villain? Vanity Fair
H/T Drudge
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Jan, they may act that way, but they know 2010 is coming up. The Dems in Congress can read the polls, they know about the phone calls coming into their offices against ObamaCare, etc., they know about the Tea Party protests. They know they’re in big trouble and it’s going to get worse.
There are, of course, some arrogant ones in hard-core blue territory, but if even Keith Ellison was feeling the heat in his deep-blue district, you know the others realize what’s going on.
Obama & ilk are lying as hard as they can, but as I’ve said numerous times, he’s had little to no contact with ordinary Americans. He’s made some deep mistakes about the makeup of the country. There’s always going to be some Obama cultists who will support him, but I truly think a majority of Americans are fed up and the majority will grow.
There is a lot of lying psy-ops going on here. We have to keep fighting.
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Obama doesn’t look at reality,meaning facts and figures. All he sees is his grand illusions of how he wants to mold a country. Notice how I don’t say his country, as I don’t think Obama holds much affection for America. It will only be “his” America when he can change it to his specifications.
I don’t think we have economically hit bottom, yet, no matter how high the DOW is enthusiastically ticking up.
Two excellent points Janzam. Zero is definitely influenced by his “grand illusions.” I agree that the stock market is artificially up. Companies are reporting “better than expected” because they have cut costs (which usually translates into laying people off). More unemployment = greater financial burdens on the federal government and the states and less purchasding power.
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Expect the left (and mainly the media) to play the “race card” at every opportunity to protect Obama.
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Rasmussen Daily Presidential Tracking. Obama -7; +2 overall approval.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
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INC —> Obama & ilk are lying as hard as they can, but as I’ve said numerous times, he’s had little to no contact with ordinary Americans.
Boy, isn’t that the truth! Obama the elitist – through and through!
bc — totally agree with you about companys’ “profit margins” being made because of reductions in overhead — mainly human overhead!
The state of our economy is a sham right now. All the stimulus did was inject money into a collapsing bubble, sustaining it but doing nothing to “fix” it. It’s all a tease…..
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“It’s been 4 days since a new thread has been posted at Poli. Think the site has officially ceased to exist?”—BC
BC, I can’t imagine why you are so insensitive. It’s Obama’s birthday!!
There are three days of pre-birthday get togethers, then there’s Obama’s US/global birthday celebration followed by the post-birthday parties. You shouldn’t expect to see anybody at Poli until next week some time.
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Tony — Have you ever heard of “birthday spankings?” One for each year of your life. Hmmmm, that makes 48 for Obama. Where’s the paddle!
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Jan, you just gave me an idea.
For his birthday gift we should all get together and host a “Barack Obama, This is Your Life” shows for him.
We could fly his brother in; drive his grandmother in from the White House; locate his Muslim teachers from Indonesia; track down the two doctors in Hawaii who simultaneously delivered him at two different hospitals while his mother was in Indonesia; I’m sure we could get each of his mentors such as Rezko, Ayers, Dorn, etc to drop in for a visit.
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rofl CT!!! That is too good! I love it!
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Hello JM. Glad I could brighten your day.
Just some fyi. I’m in sort of a blogging slump right now, but I’m always reading through the posts and comments. Keep up the good work.
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Hey Tony, Maybe if we explored your idea maybe we could finally find out who the real BO is….birth certificate and all! LOL
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Oh I hear ya, CT. I am so grateful for our peeps here because with my kidlets home from school, it is hard for me to concentrate long enough to do a blog entry. Once they are back in school, I will have my brain back, and much more time to write.
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Jan, I see there was a poll out that asked Republicans if they thought BO was born in HI (30%, IIRC).
This is the group they are calling the “kook birthers” but I noticed they didn’t ask any Democrats (Afraid what they might learn?) nor did they ask the correct question, “Do you think Obama has dual citizenship?”
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“BC, I can’t imagine why you are so insensitive. It’s Obama’s birthday!!
“There are three days of pre-birthday get togethers, then there’s Obama’s US/global birthday celebration followed by the post-birthday parties. You shouldn’t expect to see anybody at Poli until next week some time.”
I’m sure Joke Leaf has been preparing to celebrate Zero’s birthday for at least a week.
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I don’t think we have economically hit bottom, yet, no matter how high the DOW is enthusiastically ticking up. — jan
Jan, I don’t think there is a bottom now. I hate to sound so down, but I am reaching the conclusion that there is no floor from which the economy can recover. We are quickly reaching the 60% mark of income confiscation and they are floating balloons of more taxes to come. Problem is there can be no recovery when 60-70% of your income is sucked away.
The talking heads at Kudlow Report keep saying it will have to be a producers recovery. Problem with that is you have to have consumers of product. When there is no disposable income available there is no consumers to buy goods.
The US we know is already dead, the fatal blow has been delivered, it is just a matter for the matador to reveal the espada and finish off the beast.