Once again, Government saying that we must fix a problem - that Government created.
Well, getting used to being the only Grokster means shuffling things around a bit - it may take a little bit to readjust the schedule a bit for writing. That's fine - just know that posting may be a tad light for the next few days as I realign what needs to be addressed.
In the mean time, Andrew Hemingway sent this submission over - he calls out Obama's actions for what it is: "Obama has created this mess - and we ALL will pay for it because he won't 'own' it."
Guest Post by Andrew Hemingway:
As we have seen our President do so many times before, today we see another classic example of “watch my mouth not my actions”. This man has on countless occasions gone directly against what he says he will do. He goes some where say China and because the Chinese are nervous about our debt he says:
“BEIJING, Nov 18 (Reuters) - President Barack Obama gave his sternest warning yet about the need to contain rising U.S. deficits, saying on Wednesday that if government debt were to pile up too much, it could lead to a double-dip recession.With the U.S. unemployment rate at 10.2 percent, Obama told Fox News his administration faces a delicate balance of trying to boost the economy and spur job creation while putting the economy on a path toward long-term deficit reduction.”Then the very next day we read in Bloomberg that the U.S. is about to try another round of Treasury sales. WHAT??
“Treasuries were little changed, with the yield on the 10- year note at 3.34 percent. The U.S. will probably sell $44 billion of two-year notes on Nov. 23, a record $42 billion of five-year debt on Nov. 24, and $32 billion of seven-year securities on Nov. 25, also the most ever, according to Wrightson ICAP LLC, a Jersey City-based research firm that specializes in government finance. The two-year note auction would match the record amount sold last month.”So even while saying that our debt will send us into “double-dip” recession we are are going into record debt. Some one please help me understand this. My only thought is this...Maybe our President was thinking about a “double – dip ice cream sundae” and not the future of our country. One can one shake their head at this level of incompetence.
Obama complains (continually) that he inherited the debt problem....I think people are starting to notice that he accelerated it by a factor of 3 in his first few months at the reins.
And those folks aren't just American voters - they are the "not American" people who will vote with their currencies....
Comments
Posted by: Jonah Johansen | November 19, 2009 1:06 PM