May each of you have the heart to conceive, the understanding to direct, and the hand to execute works that will leave the world a little better for your having been here. -- Ronald Reagan

Monday, May 28, 2012

Would That His Pants Would Really Catch on Fire

This President. Campaigning against Capitalism, proclaiming himself among the four greatest presidents in US history, and claiming his administration has to lowest rate of spending increase than all the presidents since Eisenhower. The actual quote was from White House spokesman Jay Carney: "Of all the falsehoods told about President Obama, the biggest whopper is the one about his reckless spending spree.  Almost everyone believes that Obama has presided over a massive increase in federal spending, but it didn't happen.  Although there was a big stimulus bill under President Obama, federal spending is rising at its slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s.  Even hapless Herbert Hoover managed to increase spending more than Obama has."

Even the Leftist Reelect Obama Washington Post had to buck that one. They, the Wall Street Journal and several other media outlets had to point out this lie. The lie is based upon an article by Rex Nutting ofMarketWatch, and nearly everyone has blown it apart. The WaPo article with detailed analysis here, but the short of it is most of 2009 budget is put into Bush’s column. The Stimulus, TARP and all the rest, Obama signed off on before he became president. He wouldn’t have done it if he had been president? He also has gotten less money than he requested each year for his budget requests.

Spending as a percentage of GDP, traditionally around 20%, has been 23%-25%.

The whiney man-child Obama still! Blames Bush for his troubles. Here’s a stunning reminder. Obama spent $millions to become president, asked for it, wanted it, and said he could do a better job. If that's the case, he didn't "inherit" anything, he asked for it. The $825 billion “Stimulus Bill” was not signed by Bush, but by Obama. The second installment of TARP Bush didn’t sign ($200 billion) saying it wasn’t necessary, was signed by Obama. There was a $410 billion spending bill that Bush refused to sign; signed by Obama. Obama also signed a $40 billion child health care bill.  

Actually this is heartening in a bizarre way. Obama makes Bain Capital the poster child for greedy capitalism while taking huge amounts of money from them, and one of his top bundlers and advisers is a Bain exec. Then he brags about how great he is. Then he admonishes the Reelect Obama Press for not running with his outrageous economic lie.

This is the first president to campaign against Capitalism. I don’t think with that and the additional $5 trillion debt, millions more people out of work since he assumed office, and skyrocketing energy prices, it’s going to be the shoe-in reelection he thought.

It’s the economy stupid.


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