Don't Let Me Stop You

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Archive for the ‘Porkulus’ Category

It’s the Debt, Stupid

Posted by Dan Draney on March 28, 2010

It’s been said before, but rarely this well. There’s more where this came from: In the End, There Is Only the Debt – Victor Davis Hanson – The Corner on National Review Online.

In short, the United States is floating far more loans than ever before in peacetime, and for longer scheduled durations, because interest rates are only a quarter of what they have been in the past. But this theory that we can endlessly multiply the size of our debt because the service costs remain low and static is a prescription for disaster — like the credit-card introductory offer of 2 to 3 percent for 6 months that hooks the naive into charging thousands of dollars, only to end up without the means to service the debt when the rate climbs over 20 percent. For a technocracy that is Ivy League certified and brags about its competency, we have fallen into the age-old trap that snares the naive ARM house buyer, the teenaged MasterCard mega-borrower, and the “free” coupon holder who heads headlong to Vegas.

That we are borrowing now at cheap interest hundreds of billions for things that are unnecessary or counterproductive will only make it worse, psychologically, when we have to pay it all back with high interest. It reminds me of the boom-to-bust neighbor who bought his superfluous super-duper, hydra-headed, metallic red-painted hydraulic vine-cutter with easy farm loans in the late 1970s and, when headed for bankruptcy in the 1980s, looked at the now rusted, useless contraption in his barnyard and sighed to me, “And I’m still paying 17 percent on that sucker!”

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Posted in debt, Economics, government spending, Porkulus, socialism | Leave a Comment »

Obama Gives Partisan Speech Denouncing Partisanship

Posted by Dan Draney on February 7, 2009

A petulant President Barack Obama chided Republicans for disagreeing with him on the Porkulous Bill, as he spoke to a Dem Party gathering. As Politico reports, he welcomes the debate with those nasty partisans, who have nothing useful to say:

At Dem retreat, a partisan love fest – Yahoo! News: In what was the most pointedly partisan speech of his young presidency, Obama rejected Republican arguments that massive spending in the $819 billion stimulus bill that passed the House should be replaced by a new round of massive tax cuts.

“I welcome this debate, but we are not going to get relief by turning back to the same policies that for the last eight years doubled the national debt and threw our economy into a tailspin,” said President Obama

No more Failed Policies Of The Past that doubled the national debt in 8 years. Obama can do much better than that. He can double it in just 2 years. Yes, He Can.

UPDATE: At the same meeting, Pelosi denounces bipartisanship. Yep, she’s a “rock” all right, or at least she has the same IQ as one.

When Obama finally spoke, he called Pelosi “a rock” and “the great speaker of the House.” And he said that House Appropriations Committee Chairman David Obey and other House chairmen had acted with “discipline” in passing their version of the stimulus bill.

How can parody compete with the reality of today’s Democrat Party?

Posted in Obama jokes, Porkulus | 1 Comment »

 
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