Sucking on the Federal Tit, Teat, ... whatever

George Rebane

The picture of the deficits over the last eight years is a telling story.  The graphic shows the deficits with the cost of the Iraqi war broken out as tallied by the US government.  For those keeping up, we have to add the shown amounts to about another $3 trillion dollars to come up with the total federal budget.

 

Looking at the histogram, the effect of the Bush tax cuts is pretty clear.  Note that the costs of the surge needed to tip the balance and ‘win’ the war grew in 07 and 08.  And also note the size that the non-war deficit had achieved just before the ‘let ‘em all buy houses’ recession hit in 08.

The travesty of Obama’s non-stimulating stimulus programs in 09 and 10 are hard to miss (yes, some of 08 also included the TARP bailouts fashioned by the Democratic Congress and Bush).

With the White House filled with innumerates who can’t add without taking off both shoes, we are now extending the time that the one out of six Americans (and who knows how many illegals) can suck on the federal tit.  (Thanks to former Sen Alan Simpson for introducing the next level of explicit discourse into the national lexicon.)  Under Obama the federal budget now commands up to 25% of the nation’s GDP of which under 1% has been the cost of Iraq.  Servicing the national debt will soon eat up 25% of the federal budget – note that’s just the annual bamboozle so that the Chinese and Japanese will continue lending us money; it doesn’t pay off a penny of the principal amount we owe our creditors.  Is anyone paying attention to this???

Given the utter failure of the administration’s misplaced fiscal stimuli – during the ballyhooed ‘Summer of Recovery’ the unemployment rate will actually increase – the leftwing know-nothings are now talking about an even a bigger stimulus that is needed after ARRA and its recent add-ons run out.  ‘Hey, that was a pretty stupid thing we did, so let’s do it again.’  For a good cry in your beer, you can read ‘The Folly of Subsidizing Unemployment’ by Harvard’s Robert Barro.

Their big strategy is to continue giving money to the hand-to-mouthers so that the Dems can bag their votes, all without doing anything to give relief and reduce risk to the business owners who could create the jobs for the same people.  There isn’t a brain in the bunch smart enough to ask, let alone answer the question of ‘what comes after they spend the money we have given them this year?’  Answer to the slow of wit - the same thing that happened when the last tranche ran out without raising anything except future expectations for more hand-outs.

Something about giving someone a fish or getting a fishing job instead comes to mind.

Comments

[Dave C]

For some odd reason I kept thinking of paying down the state a federal debt as I sat down this morning to figure out and send in my 1040ES and 540ES with healthy checks enclosed.