Obama redux
Beanie
says the White House underestimates future budget deficits by more than $2
trillion over the upcoming decade.
The estimate from the nonpartisan Congressional Budget Office says that if
Obama's February budget submission is enacted into law it would produce deficits
totaling $9.5 trillion over 10 years - an average of almost $1 trillion a year.
Obama's budget saw deficits totaling $7.2 trillion over the same period.
The difference is chiefly because CBO has a less optimistic estimate of how much
the government will collect in tax revenues, partly because the administration
has rosier economic projections.
But the agency also rejects the administration's claims of more than $300
billion of that savings - to pay for preventing a cut in Medicare payments to
doctors - because it doesn't specify where it would come from. Likewise, CBO
fails to credit the White House with an additional $328 billion that would come
from unspecified "bipartisan financing" to pay for transportation infrastructure
projects such as high speed rail lines and road and bridge construction.
oly
There are moments when one expects His Worship The Biden to be the
Great Godhead at any second.
Barry Sotereo can move back to Indonesia or Kenya at anytime.
oly
Beanie
"oly" <oly...@aol.com> wrote in message
news:b9ea721e-baf0-4f44...@s11g2000yqh.googlegroups.com...
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The government will respond to the $9 trillion deficit in the only way it knows
how: inflation of the currency.
oly
> "oly" <oly2...@aol.com> wrote in message
>
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May not matter. Next week, or week after, Tokyo may have to shut down
for several decades. Then the market interest rates on USTNs go to
10% overnight???
Also, the PTB are sending French planes into Libya even as I type.
French. Talk about the likelihood of unanticipated screw-ups.
oly
Beanie
>May not matter. Next week, or week after, Tokyo may have to shut down or
10% overnight???
I feel that the PTB are grossly understating the trouble at the nuke plant in
Nippon in order not to alarm the public.
They've got a "China Syndrome" on their hands and don't have a fucking clue as
to what to do about it, other than stand around wringing their hands and passing
the buck up the line.
Japan will need cash and plenty of it, which will without a doubt cause them to
sell their USTNs, causing a glut on the market and preventing an undue rise in
their interest rates.
The Japanese generally are not individually proactive, much prefering to be told
what to do by higher-ups in their particular bureaucratic chain before acting.
Initiative is not a virtue in Japan like it is here in the good old USA.
>Also, the PTB are sending French planes into Libya even as I type. French.
>Talk about the likelihood of unanticipated screw-ups.
The buffoonish Daffy will fold up his tent and run off to Saudi Arabia with his
ill-gotten billions.
Bremick
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Good. Better them than us. After all, wasn't it the response to the
European colonization of Northern Africa that eventually led to dictator
governments? France and Italy should shoulder the bulk of the work. We'll
stand offshore and keep score.
oly
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Well, since France and Italy get most of that oil, yes, they should do
the grunt work of stealing it back.
But, how long since the Paris Surrender Monkeys really pulled off a
successful war??? Algeria in the 1840s???
oly
Bremick
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Not to worry. Somebody will be holding their hand this time.
oly
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Oh, somebody just told me that the Froggies got to fire the first shot
so that the President can always say that WE didn't fire the first
shot in Libya.
They also say that there is one hell of a lot of silver in a cruise
missile, best stuff for soldering the electrical system contacts
together (well, FWIW gold or platinum might be better, but too
expensive).
oly
Bremick
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At over a half mil a pop, I doubt anyone's worrying about the waste of
silver. The preliminaty "coalition" just pumped over $62 million worth of
ammo into Libya. Now, unless the Colonel is personally dispatched within a
day or two, he will have deployed his loyal techs to ensure that this war
will not just be fought on Libyan soil. Pan Am 103 may have been just the
beginning.