Democrats always want higher spending. If a Republican President spent money faster than a crack-addicted compulsive gambler (George Bush), Democrats would complain it wasn't enough. Don't worry though, by the end of Obama's term, he will have cut the deficit in half...to an amount higher than any deficit under George Bush. At the current rate, this year's deficit will probably exceed $2 trillion, and may come close to equaling 50% of Bush's deficits over 8 years. Democrats are using the same strategy as Citigroup, AIG, Bank of America, GE, subprime home buyers, Bear Stearns, and Lehman Brothers. Borrow short-term to the hilt, and hope the long-term investments pay off.House Democrats unveiled a $410 billion spending bill on Monday to keep the government running through the end of the fiscal year, setting up the second political struggle over federal funds in less than a month with Republicans.
The measure includes thousands of earmarks, the pet projects favored by lawmakers but often criticized by the public in opinion polls. There was no official total of the bill's earmarks, which accounted for at least $3.8 billion.
The legislation, which includes an increase of roughly 8 percent over spending in the last fiscal year, is expected to clear the House later in the week.
Democrats defended the spending increases, saying they were needed to make up for cuts enacted in recent years or proposed a year ago by then-President George W. Bush in health, education, energy and other programs.
Rick Santelli made a funny when he attacked the idea of a government spending multiplier and asked why we don't spend $1 trillion every day if it creates $1.5 trillion in GDP. Well, the Democrats are trying. The only flaw in their plan is that there's no money—the government is literally broke. It's like small children thinking monopoly money is real. But too many Americans are essentially little children. They stomp their feet when things go bad and say, "We have to do something! I have a boo boo!" Prop up my home, save my farm/bank/car company, pay for my healthcare, education, job training. The public simply has no concept of budgeting, interest rates, money supply, currency rates and how these can combine to totally annihilate Federal spending.
Democrats are out of cash, but they want to keep playing at the poker table. They are now putting up Medicare and Social Security to play another hand. That's how big the stakes are with these spendaholics in charge. Does the average American realize the huge gamble "we" are taking? If it fails, instead of Medicare, you will receive a bill for interest. Either you will literally be paying high taxes for interest on the debt, or the government will have inflated it away and you will have to pay 12% interest to get a mortgage, or your Social Security check will grow at the 5% government CPI, but your actual costs will be up 15%.
The kids are in charge. Sit back, grab a beer, and enjoy. It won't be long before they piss their pants, break some furniture, vomit on the floor and maybe even burn the house down. It's America's Funniest Home Videos, all day, everyday.
Either that or go insane.
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