AITOOW finds it laughable tha Obambi's goal (which of course he will fail to meet) is to "slash" the deficit (not debt) in half by the END of his term? How is this not possible now that the budget is 1.3 trillion in the red. That would make it 650 billion. I think Bush's high (before 08) was 500-something and that included adding a prescription drug plan, 2 wars and tax cuts to the budget. I'm pretty certain that this excludes the one time charge of the 800 billion stimulus package (really 2009 budget part b) that off lined traditional deficit costs (good to see it's not only Wall St that learned this trick from Enron). It is almost all made up of "peace dividend II". My only concern is that the Republican's will win back Congress in two years and save him like they saved Clinton. And BTW the plan to address foreclosures is the same as Bernanke's propping up the banks with equity infusions. This time it's just going to prop up Fannie and Freddie.
And lastly. Were pundits smarter when I was young or was I just so much dumber? I used to be awed by the people on Sunday morning roundtables. Now, I shiver with anger at how unqualified they are.
No comments:
Post a Comment