"Now, I know that some in my own party will argue that we can't address the deficit or freeze government spending when so many people are still hurting. And I agree, which is why this freeze won't take effect until next year, when the economy is stronger. That's how budgeting works." -- President Barack Obama, January 27, 2010
"I will gladly pay you Tuesday for a hamburger today. That's how budeting works." -- Wimpy
Is that what's he's telling all our debt holders "See you next year"? He sounds like a junkie talking about how this is his last fix, tomorrow I'm off the junk.
ReplyDeleteBull! He'll spend as long as he can. It's in his DNA and the ACORN crowd always has a sob story.
It's a credit addiction.
ReplyDeleteThrow this in with using repaid loan money to pay for other loans to small banks so they can then make more loans.
...more BAD loans. Community banks were just as guilty.
ReplyDeleteEdward Lazear, formerly President George W. Bush’s Chairman of the Council of Economic Advisors, wrote an excellent piece in Thursday’s Wall Street Journal. Let us remember that while life with no government would surely be barbaric and intolerable, life with excessive government becomes just as pernicious. That fact remains true whether ‘too much government’ takes the form of socialism, communism or feudalism. We should cast a doubtful and wary eye when told the government can solve all our problems, and that to do so the government needs all of our money.
ReplyDeleteWe have all seen the "Title Loan" establishments that abound especially around military bases where you can borrow money against title to your car or borrow money against your upcoming pay check.
ReplyDeleteSimilarly, President Obama and congress are borrowing against the title to the United States of America and upcoming pay days with little if any hope of being able to pay off these loans.
Nicely said, Capitolism---welcome to the site.
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