Search This Blog

Wednesday, August 10, 2011

Hey Big Spender

“It is equally dangerous giving a madman a knife and a villain power.” — Socrates

In 1966 Cy Coleman and Dorothy Fields wrote the music and lyrics for a Broadway hit called Sweet Charity. One of the hit songs from this musical was “Hey Big Spender” a song that fits Barack Obama to a tee. The lyrics go like this:

“The minute you walked in the joint,

I could see you were a man of distinction,

A real big spender,

Good looking, so refined.

Say, wouldn't you like to know

What's going on in my mind?

So, let me get right to the point,

I don't pop my cork for ev'ry guy I see.

Hey, big spender, spend.

A little time”

The only difference in Obama’s case is the change of the word time to money.

According to Reuters Obama says he inherited the debt and deficit from his predecessors:

“President Barack Obama said on Monday he inherited many of the country's problems with high debt and deficits when he entered the White House, sounding a theme likely to dominate his 2012 re-election campaign.

Speaking at a Democratic fundraiser, where families paid $15,000 to get a picture with him, Obama defended his economic record and noted that problems in Europe were affecting the United States.

"We do have a serious problem in terms of debt and deficit, and much of it I inherited," Obama said. The financial crisis, he said, made the problem worse.

Democrats and Republicans agreed to a deal to raise the debt ceiling and cut government spending last week, but credit rating agency Standard & Poor's downgraded the United States, contributing to a steep fall in stock markets on Monday.

Obama noted that the United States had seen 17 months of consecutive private-sector job growth, rising corporate profits and stabilized credit markets under his watch.

"What's absolutely true, even before these last couple days in the stock market, is that recovery wasn't happening fast enough," he said. "When you have problems in Europe and in Spain and in Italy and in Greece, those problems wash over into our shores," he said.

Some 140 people attended the fundraiser, which was held at a private home.”

Last week the Obama administration reportedly increased the national debt (in inflation-adjusted dollars) more in a mere four days than the administrations of Presidents Harry Truman and Dwight D. Eisenhower increased it from 1950-1960 — an entire decade.

CNSNews crunches the numbers:

“At the start of business on Tuesday, Aug. 2, according to the Daily Treasury Statement, the national debt subject to the legal limit was $14.293975 trillion. Obama signed legislation that day lifting the limit by as much as $2.4 trillion—with an initial and immediate increase in the limit of $400 billion. By the close of business on Friday, Aug. 5, according to the Daily Treasury Statement, the national debt subject to the limit had grown to $14.536130 trillion.

Over just four days, the debt had jumped $242.155 billion.

By contrast, according to the Bureau of the Public Debt, over the ten-year period from the end of fiscal 1950 to the end of fiscal 1960, the national debt grew from approximately $257.36 billion to approximately $286.33  billion—an increase of approximately $28.97 billion.

Using the Bureau of Labor Statistics inflation calculator, $28.97 billion in 1960 dollars equals $220.92 billion in 2011 dollars.

Thus, the $242.155 billion in 2011 dollars that the Obama administration increased the debt between last Tuesday and last Friday is more in inflation-adjusted terms than the combined debt increases of the Truman and Eisenhower administrations in the ten-year period from the end of fiscal 1950 to the end of fiscal 1960.”

According to the Financial Times Obama increased the debt ceiling from 70% of GDP to 100% of GDP. Obama is the biggest spender in the history of the United States and he continues to blame others for our deficit and national debt. Yes, George W. Bush was a big spender, but during his reign the debt ceiling increased 28% in eight years while Obama’s 30% increase took a mere three. By contrast Bill Clinton’s eight years showed 6% decrease.

Former presidential adviser Karl Rove says President Barack Obama displayed arrogance in the debt-reduction negotiations and his response to S&P’s downgrade of America’s credit rating shows he is “disconnected” from the fundamentals of the nation’s fiscal crisis. Rove also told Fox News’ Sean Hannity Tuesday Obama in recent months has wiped out his image as a strong leader.

“I think the debt negotiations and the downgrade and the president’s involvement in the former and his response to the latter show three things: They show first of all, the president is at times arrogant and disconnected,” Rove said. “Second of all, that he really is somebody who, while he can say the words, can’t do the words. That is to say, he can talk about the need to have a plan — and then not produce a plan.”

Rove told Hannity Obama’s responses to the nation’s fiscal malaise — or lack thereof — also show his policy to “spend our way to prosperity has come to a dead and screeching halt.”

“The president is unable to deal with that — and as a result, he’s stripped away over the last seven, or eight months in particular, a lot of the image that he had as a strong leader — and that’s the most precious asset a president has,” Rove said. “If we see a strong leader, it gives us confidence. If we see a strong leader, even if we don’t necessarily agree with him on everything, it gives us willingness to say, well, maybe he knows better than I do and I’m willing to follow him.

“But how the president has handled himself, particularly in the last 10 days, how he’s handled himself, if he is defeated, we’ll look back and say, this was the moment where things got locked in,” Rove said.

Hannity noted there are reports the Obama campaign’s prime objective is to make former Massachusetts governor and GOP presidential candidate Mitt Romney look bad, because the president can’t run on his record.

“Look, for weeks — for months — it has been apparent with these lousy economic numbers, the only way the president and his people see that they have a path to victory is to radiate the Republican nominee, to take whoever that is, whether it is Romney or you name it, and . . . disqualify them in the views of the American people,” Rove said. “What’s interesting to me, is this comes from the president who denounced this kind of campaign in a fashion that I heard in 2008 — because he kept saying he was going to get rid of Karl Rove’s style [of] politics.

“But look, this is exactly what they are going to do — it is the only way that they can win,” he said. “And I hate to say it that conceivably, if we have a weak candidate with a weak response to this kind of thing, they could conceivably win,” he said.

“But how the president has handled himself, particularly in the last 10 days, how he’s handled himself, if he is defeated, we’ll look back and say, this was the moment where things got locked in,” Rove said.

Karl Rove blasted the Obama Administration the other night after the stock market plummeted 634 points. Rove explained to Bill O’Reilly that this is an administration that can only do one thing at a time. They can only play politics.

Rove also compared Obama to failed President James Buchanan (Democrat) who sat by as the nation fell apart around him before Lincoln came into office. Buchanan knew the nation was splitting apart over the slavery issue but sat in the White House and did nothing while a civil war brewed on the horizon. Instead he adopted his orphaned niece, Harriet Lane to act as his personal confidant.

Doug MacKinnon writes in Investor’s Business Daily that Obama should do the right thing and resign:

As our economy continues to self-destruct; U.S. credit is shockingly downgraded; home prices remain at historic lows; unemployment rises; small businesses continue to close their doors; public-employee-bloated cities, towns, states and employers continue to default; race riots flare, Mexican drug cartels cross our sovereign border at will to establish ultraviolent operations; test scores for public school children continue to plummet; the health care system falls under the control of a failed socialist model; terrorism rises, and the world outside our borders spirals into deeper and more dangerous chaos, a serious and very legitimate question needs to be asked:

In the best interests of our nation and the American people, should President Obama resign his office?”

Obviously the big spender has a job he is not qualified for or prepared for. He is nothing more than a chick and jive community organizer who made his bones at the knees of the likes Frank Marshal Davis, Saul Alinsky, Bill Ayres and Rev Wright — all ideologues of the progressive left and socialism. He believes he can do anything if he throws enough money around and makes speeches from his With House soap box while reading a teleprompter. He believes his own rhetoric and that written for him by his left-wing minions. He believes that by laying his hands on, like a fundamentalist preacher, all will be healed yet he does not believe our rights come from God.

He has never managed anything in his life and believes that the power of his smile of enough to persuade people to do his bidding. He can’t tolerate criticism and is quick to pop off with his quips and opinions. He has the total support of the left-wing media, a media that is beginning to veer from him.

He cannot manage the economy or foreign affairs. He began his administration with an apologize for America tour, a tour he though would ingratiate him with foreign leaders. These foreign leaders laughed at him behind his back as they were of the old school and believed nations acted in their national interest, not to promote social and economic justice around the globe.

He has divorced himself from the economy abdicating any leadership to Congress. He cannot define the Afghanistan mission and delved into a war in Libya that has gone nowhere and cost over a billion dollars to date.

As Mr. MacKinnon states:

“Honestly, if more Americans knew of these indisputable facts, it's hard to see how Barack Obama could be elected mayor of a small town in Alaska, let alone president of the United States. And yet here we are.

Since liberals and liberal publications are now starting to admit that the president may not be up to the job, maybe one of them can then offer up a scenario to get us out of this mess. Something like: have Joe Biden resign, have Obama appoint a competent and vetted vice president, and then have President Obama resign.

Liberals could do all that while finally conceding that real-world experience does matter and that Obama brought none to the White House. Hence, the train wreck.”

No comments:

Post a Comment