Revealed: Obama-Pelosi Economic Disaster Worse Than Once Thought
Posted by Jim Hoft on Saturday, May 15, 2010, 10:17 AM
It’s much worse than we thought.
Under the Obama Administration the national debt in the US will climb to above 100% in less than 5 years.
Edmund Conway at The Telegraph reported, via Power Line:
[T]he really interesting stuff is the detail, and what leaps out again and again is how much of a hill the US has to climb. Exhibit a is the fact that under the Obama administration’s current fiscal plans, the national debt in the US (on a gross basis) will climb to above 100pc of GDP by 2015 – a far steeper increase than almost any other country.
According to CIA 2009 statistics, the US debt to GDP ratio is currently at 52.9%. Greece currently has a GDP to debt ratio at 108%.
John Hinderaker concludes the Power Line post with this:
The Democrats in Washington are both too stupid and too ideologically committed to read the writing on the wall. They are leading the United States over a financial cliff, and they have no intention of turning back. On the contrary: if they can, they will hobble our economy further by enacting a carbon tax. There is only one way to stop them, and to save our children–from whom greedy, selfish Washington liberals are borrowing trillions of dollars–from a lifetime of debt. The Democrats must be voted out in 2010, and Barack Obama must be denied a second opportunity to deconstruct the country that he doesn’t much like.
Agreed.
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Published February 8, 2012 at 8:42 pm - 108 Comments
wanumba commented:
Since these are all the elites of the nation doing this, educated in our most prestigious universities, what’s the explanation?
Greed and power intoxication, incompetence or treason. Looks like a toxic convergence of all three.
What many people don’t understand is how shockingly quickly even the most advanced civilization can be torn down.
Scott commented:
They know exactly what they are doing…They will spend us into a period of inflation that will make the debt “appear” smaller…In the process, our currency will be de-valued and life here will become very very expensive. Have you bought groceries lately…A sign of things to come…
Scott commented:
Obama’s budget director Orzag famously replied, “what deficit” in answer to a reporter’s question about the exploding 2009 deficit…Astounding delusion on his part…I swear, Obama and his minions would be un-employable outside of government. The rank incompetence, arrogance, and ridiculous marketing and people skills would get them fired very quickly in private business…
Militant Conservative commented:
Scott
May 15th, 2010 | 10:38 am | #3
Cloward and Piven stratagey. This is by design and intentional so yes it’s TREASON. I have six months or more food and H20. Ammo for a small war and plenty of wild game ammo too. camping equipment and portable fuel. powder is dry.
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liz commented:
Perverted Woody Allen’s master and lord, the childish Obama, is ruining our country. Yes, I’m peeved today.
liz commented:
Let’s hope we all live next door to “militant conservative” if things truly break bad.
donh commented:
Their intension is to completely destroy this country and be the ones at the top holding all the machine guns when the economy implodes. Don’t count on the US military to step in and protect you. The leadership are all fascists devoted to the UN cult of socialism.
Andreas K. commented:
Something to cheer you up
With regards to ar15.com
CommieBlaster commented:
You really think Obama/Pelosi are going to let the November elections stop them? All they need to do is create another crisis any time in the next 1/2 year.
Isn’t it time for a Velvet Revolution?
http://www.commieblaster.com/velvet-revolution/
aprilnovember811 commented:
They really belong in prison. It is intentional. But yet, we have people like Orin Hatch saying of Obama, “I like him?” Is he delusional, or a patsy? We have Senator Coburn, who put his foot in his mouth, “she’s nice,” of Pelosi. These aren’t the actions of people, who or nice or likeable. It’s diabolical.
Kevin P commented:
Liz #5 – you need to be Militant Conservative!
Living next door to him is the government type answer.
We all need to be prepared.
These lunatics are not going to go away willingly. We also need to elect conservatives with the spine to PROSECUTE all these bastards to the fullest extent of the law where any laws were broken.
Kevin P commented:
November Elections in 181 days…
Joanne commented:
I don’t know why people are giving Obama and his gang of thugs any excuse – like being a liberal or a socialist is some kind of reason people should somehow understand or excuse what they are doing. They know full well they are throwing the U.S. into a full-on nosedive to economic ruin. Now if people would just finally recognize what they are doing for what it is, then they will come to a firm conclusion on what must be done to stop them before it is too late.
Joanne commented:
#8 – Exactly! Couldn’t have said it better myself.
Scott Wiggins commented:
Unbelievable…The world will hold us accountable for our actions and dollar depreciation is inevitable. Americans will be downsizing homes, cars, lifestyles, food, clothing, basically everything as inflation takes hold. All because of our government’s reckless spending…Destroying our currency…Obama and Pelosi should be in jail!!!! Any Republican caught reaching across the aisle should go to jail with them! John, Lindsey, et al take note…
Scott Wiggins commented:
The Obama-bots who got their healthcare passed better hope it is around when they need it…Medicare, Social Security, and the new and improved healthcare system will face rationing in the not too distant future…Keep yourself healthy and plan for your own retirement…Obama and Nancy are going to leave millions of desperate souls defenseless…He who tries to do everything accomplishes nothing. Our Federal government never learned this important fact…
Flyover Sam commented:
This has nothing to do with “economic ruin.” Most of us have predominant participation with the economic society. We think in financial terms — what Obama and the progressive marxists would refer to as capitalist thought. We measure everything from that reference point and result in conclusions like “economic ruin.”
It’s completely irrelevant and a very ineffective model for comprehending what Obama and the Empire globalists are instituting. Capital and private property are the root cause of all problems, in their system of thought, and the single most effective way to eliminate it is to implode it by making capital meaningless. They’re very close to executing this objective through the effort of spreading the contagion of all contagions, rendering global capital impotent.
While we scream about the harm to the economy, Obama and his facilitators have a completely different comprehension of the term: economy is an effectual consequence of what remains when they are done directing authoritarian power over the multitude.
Furthermore, this effort is far from evil in their eyes; they recognize (correctly so) that the capitalist-globalist faction had so excessively imbalanced structures that global collapse was inevitable. Because the alliance Obama corresponds to is interested in riding out the upcoming upheaval and minimizing their power loss, they’ve chosen to accelerate the explosion/implosion of capital. “Flooring it” is necessary so as to ensure placement of their expansive global biopolitical system before the multitude discovers they’ve arrived at the new feudalism.
None of this is conspiratorial; Hardt and Negri, Zizek and numerous other communists illustrate it (and curiously are not allies to Obama though they initially found him of interest). Obama’s faction is that of the global socialist, a post-nationstate form of what Italy and Germany experienced as appropriated to an international, non-state canvas. They’re abhorrent to real communists in that they pursue seizure of property ownership through the state, rather than the elimination of property. China’s state capitalists, Russia’s oligarchs, Europe’s Soros types and so on are the beneficiaries of this fascist form of capitalism.
Realistically, we’re on a political and economic trajectory that suggests the mountain we’re flying into is inevitable. Unless multitude movements like the tea party become massively more influential, we all can expect several hundred years of peasantry in our immediate future.
Scott Wiggins commented:
#14
Kevin, there will not be any prosecution of the guilty…Our Federal government is beyond repair. Only courageous States that learn how to say “no” to the drowning man in Washington can save our souls…
Andreas K. commented:
I was talking with my mother the other day. She always was a pacifist, always. And the shocking part now is, when we talked she agreed with me that it’s better to leave house around here (in Austria) only with a gun anymore.
This is how bad things are here by now.
And it’s that bad why?
Because of the rabid left wing destroying our cultures, socities and economies.
Scott Wiggins commented:
#21
Sam, that’s quite a piece of thoughtful writing…My compliments.
bitterclinger commented:
Who knows how much time we have. If you’re able to, buy the necessary supplies NOW. Places like survivalblog.com can get you started. Foodinsurance.com has packages to get you through months or years. Get a portable water filter (recommendations in survival blog) and stockpile as much prescription meds as you can. Get a 1st Aid kit if you don’t have one and make sure you have a good supply of batteries. As far as food, I’ve noticed grocery stores having sales on tuna, sometimes for .50/can. You’re going to need protein. Protein-enriched pasta is easy to store anywhere and good for picky kids. Dry goods like rice and beans are the staples. And you’re going to need salt or those rice and beans are going to get awful boring awful quick.
A_Nonny_Mouse commented:
Kevin P says “We also need to elect conservatives with the spine to PROSECUTE all these bastards…”
Yeah, but… All the candidates have to do is LIE in their “elect-me” ads for the next 5-6 months. Kind of like Pelosi’s statement “You have to pass it to find out what’s in it”– You have to elect them to find out if they’ll really DO what they campaigned on.
It’s entirely possible that the power-hungry SOB’s seeking election this November will somehow find compelling reasons NOT to follow through on all their swell-sounding “Let’s repeal health-care, balance the budget, and shrink government” promises. Then what? They’ll have their full terms ahead of them to indulge whatever Progressive schemes seem necessary to keep those endorsements and PAC contributions rolling in…
You’re right, I don’t trust a one of ‘em.
Kevin P commented:
A_Nonny_Mouse #26 – “…will somehow find compelling reasons NOT to follow through … Then what?”
The Tree of Liberty will then be fed.
Sojourner commented:
How many more months until November?????
Saturday Cheer Up.. (thanks, Andreas#10.. made my day.)
http://www.ar15.com/forums/topic.html?b=2&f=137&t=168672
Flyover Sam commented:
ScottWiggens… thanks. I’m of the belief that some of us are needed to do the deep diving in the left’s theoretical space, both as a mechanism for forecasting their approach and for deconstructing it.
The one constant I think we can expect is that there is no going back; “conservativism” needs to recognize that and re-orient, perhaps more toward what some of the left’s influences would call rhizomic libertarianism. I think there’s tremendous potential to utilize that to seriously damage the progressive hierarchy. Deleuze & Guattari and Niklas Luhmann are two exceptional sources for theoretical development on the libertarian side of things.
The tea party movement seems to be an instance of that: look at how hierarchies cannot figure out how to oppose it. Both the progressive political entity and its parasitic media continue to try to declare it a hierarchy so they can bring it down, throwing in Rush Limbaugh, Palin, Taliban bombers, leftists flying planes into IRS buildings, etc. but to no avail. Having no center to attack, hierarchy is enveloped and impotent.
We’ve got a lot to do. Cleaning house this election is of the first order; we cannot even consider challenging this hierarchy when we have traitors speaking on our behalf. McCain and the other ilk who are equally responsible for our nation’s plight need to be voted out.
CommieBlaster commented:
OBAMA SEDITION AND TREASON TRIAL VIDEOS
Day 1 Scoop and Videos: http://www.commieblaster.com
The prosecution dropped charges of treason and espionage to avoid complications with a death sentence.
Opaobie commented:
And the generation(s) who will be forced to pay for it all or live lives of squalor clamor obliviously, “I WANT MY MTV!!”
Robert commented:
A_Nonny_Mouse #26
You state a valid concern. The answer, short of feeding the “Tree of Liberty” referenced in #27, is to elect new candidates on an ongoing basis, effecting turnover in Congress.
All of Congress must be replaced, and then again.
This is the only way to save the Republic, in my opinion.
squeaky commented:
“…clamor obliviously, “I WANT MY MTV!!” of course when they’re not scavaging for food like these folks…..the precedent has been set by the likes of mao, castro, chavez, etc. we should learn from other peoples fate. you can’t say something won’t happen when it has already.
http://flickeringpictures.com/2008/08/04/starving-north-koreans-eat-twigs-bark-grass/
Elizabeth commented:
Balkinization.
Please!
fgdfgdfg commented:
Just so people know what the country of Greece is, its area is about the size of Alabama and it has about the same population as the State of Ohio.
Robert commented:
Gerrymandered districts need to be redrawn as more geometric shapes.
Entitlements at all levels need to be reduced substantially.
Other spendings at all levels of governments need to be reduced, no matter the consequences.
fgdfgdfg commented:
Alabama is the 30th Ranked State in the US for Area.
Ohio is 7th Ranked State in the US for population.
Liz commented:
No, no, no. It’s all George W. Bush’s fault.
I am kidding, but there are people who believe that LIE. I know people who actualy think Barry O is doing a great job and the economy is getting better.
fgdfgdfg commented:
looks like Alabama is 28th for Area.
http://en.wikipedia.org/wiki/List_of_U.S._states_and_territories_by_area
fgdfgdfg commented:
Whatever…
all this money we are giving to Greece where is the money that should be going to Tennessee?
Robert commented:
fgdfgdfg
Greece has a little over 11 million people.
At a $1 Trillion bailout, the Greeks are taking almost $91,000 per citizen (of Greece).
ProLifer commented:
The Tea Party Movement — a peaceful resistance to tyranny — needs to become more aggressive… You know, like the Muslims and the Latinos!
fgdfgdfg commented:
@ Robert
its pretty amazing how they waste other peoples money.
jainphx commented:
Has Obama declared Tennessee a disaster area yet. He gives money to Greece, but Tennessee can take a hike. There has to be something that can be done legally now, not sure we can wait for Nov. Dear LORD be with us.
Militant Conservative commented:
ProLifer
May 15th, 2010 | 1:57 pm | #42
Not yet, There is one more chance at reversal before boodshed. Prepare for the worst and hope for the best.
powder is dry.
hermie commented:
It’s not just a carbon tax, but they also want a VAT to impose upon everyone. They want to take over all financial activity as well as all means of production. Topping it off, they not intend to shut down opposition to their plans by taking over the Internet, and plaqcing political flunkies like Kagan on the SCOTUS so they can have the government shut down opposing voices by declaring them ‘harmful’. (Remember, Kagan supports Obama’s changing of the 1st Amendment to restrict it to only government approved speech and government approved ‘journalists’.)
Robert commented:
Re #41
At $91,000 per citizen it would take
$28 Trillion to bail us out.
Militant Conservative commented:
We’re not doomed just at worst going to have a set back. We are a country of rugged individualism. The quitters will die out, the true children of America will thrive and prosper. Right after the rat killin.
gus commented:
Dead liberals that would be a budget fixer-upper.
Robert commented:
Brother, can you spare a $Trillion?
Ashen commented:
It’s being done to hamstring our military power, so Islam can prosper. Obama is merely the first step.