Category: The Economy

The Deficit Bomb Looms Again

Over the last few years, flat spending has cut the deficit down from $1.4 trillion to $400 billion. That’s OK. But it’s not a permanent fix. And after the recent budget deal, the Committee for a Responsible Budget here to remind us that we are in temporary lull:

CBO now projects deficits more than tripling, from $439 billion in 2015 to $1.37 trillion by 2026, with trillion dollar deficits returning by 2022 – three years earlier than prior projections.

Debt held by the public, meanwhile, will grow by over $10 trillion from $13.1 trillion at the end of 2015 to $23.8 trillion by 2026. As a share of Gross Domestic Product (GDP), debt will grow from 74 percent of GDP in 2015 – already twice its pre-recession levels – to 86 percent of GDP in 2026. By comparison, August projections showed debt on track to reach roughly 77 percent of GDP, or $21 trillion, by 2025….

The largest driver of this difference is legislation changes, especially the $855 billion tax extenders and omnibus spending package. Total legislative changes appear somewhat lower, driven by gimmicks and baseline quirks surrounding the $70 billion highway bill and the Bipartisan Budget Act. The remaining difference is from a combination of economic and technical factors, especially driven by lower projected economic growth….

CBO shows a worse debt picture than before both because of lawmakers’ own doing and other factors. It is clear now that deficits will no longer be in decline as they have been for the past five years, and debt will continue to increase from near-record high levels. The complacency that lawmakers have shown about debt over the past few years must end so they can address the troublesome trajectory of deficits and debt.

Now, to be fair, the CBO projects from baseline budgeting. And the worsening of the debt picture is mainly because the budget deal made tax breaks permanent rather than pretend they would expire every year. Still, that’s a grim picture.

The good news is that it is not an unsolvable problem. Returning to the flat spending levels we had for five years would dramatically cut into that debt — each new dollar spent is compounded by baseline budgeting that grows that dollar into two within a decade. A 1986-style tax overhaul that increased revenue will cutting the deadweight loss of the tax system would also help. Obamacare is driving some of the deficit — the system was designed to “balance” over the first ten years but start steering into a ditch very soon (a really a very big ditch). The main priority, of course, has to be entitlement reform.

So surely our two parties are addressing this problem, right?

Well …

Party A is now experiencing a huge surge at the polls from a man who wants to add trillions in new healthcare spending, hundreds of billions in “free” college and hundreds of billions in “jobs spending”. His opponent, now panicking because her second inevitable coronation is threatened, is rapidly moving left, promising even MORE spending. The debate among the Democrats is not about whether the federal government should provide “free” college. It’s about whether rich kids should or should not be included in that largesse.

Party B, however, is not much better. They are talking about big tax cuts combined with huge increases in military spending. Rand Paul, at one of the debates, called the other Republican candidates out on their deficit-busting tax-cut-and-spend plans. He’s now polling too low to even be invited to the debates. Their frontrunner … well, who knows what the hell Trump is saying this week.

This is one of the biggest reasons to be dubious of electing a Republican President while the GOP has Congress. Or, contrarily, the biggest reason to maintain a Republican Congress if a Democrat takes the White House*. Historically, the only way we’ve kept spending under control is to have the first two branches of government in different hands. With another budget apocalypse looming, can we trust the GOP with total control of the pursestrings again?**

(*There are other reasons to want a Republican in the White House: foreign policy, SCOTUS appointments etc.)

(**And before we get into “BUT DEMOCRATS!”, here are the annual budget increases for the last five combinations of President and Congress:

Clinton and Republicans (1995-2001): 3% per year
Bush and Republicans (2002-2007): 7% per year
Bush and Democrats (2008-2009): 9% per year
Obama and Democrats (2010-2011): 5% per year
Obama and Republicans (2011-present) : 0% per year

That last one will go up with the 2016 budget. But not by much.)

Unexpectedly!… Seriously this is just getting stupid now

The blatant lies from the cronies of this corrupt and incompetent administration, especially around the economic climate, and in particular about employment, have provided a slew of jokes for those of us that know better. Preliminary report after preliminary report painted a positive picture and was accompanied by constant, over-the-top fanfare from a desperate media that wanted to claim that tax-and-spend Keynesian bullshit was making a disastrous economic landscape – caused by idiotic pseudo-marxist cum Keynesian driven thinking progressive economic fantasy about forcing the lenders that finance home purchases to allow unqualified people to buy them, and then create a scheme to make these bad loans palatable – better. The economy was finally on the right track. Jobs were being created in post-depression/recession numbers, and it obviously had to be because of the genius from our collectivists cadre now running DC. Front page news. Every fucking time.

Then came the revisions, always behind the covers and with a plethora of excuses that moved the blame elsewhere, that showed the predicted economic boom caused by the left’s economic fantasies and overregulation was based on nothing but puerile fantasy and wishful thinking. Well, go back a month and it was front page news everywhere – right before Obama’s state of the Union address, no less – that the economy was back on track and added some 292K jobs. Every cowbell ringing lib was out there fist pumping and hollering and hooting. Me I just told them I would wait for the revised numbers before passing my judgment.

I guess I don’t even need to do that, because, I suspect, that after all this making up shit, the Labor Department has decided tojust tell a big lie the masters want to hear despite what their real data says. When the revised numbers come, I bet we lost jobs. But what we need now, according to Obama’s SOTU, is more of the same shit they have given us for the last 7 years, only by presidential fiat.

They are all crooks

Just look at this and you will know what I mean..

This is another of the reasons why Trump has appeal as well..

Corrupt, incompetent, stupid, and evil liars, will just keep lying

At least some in the media are still pointing out how big of despicable entity Hilary Clinton is, but the majority of the DNC sycophants seem to be doing their best to ignore this umpteenth indication of how morally bankrupt, psychologically corrupt, and just down right despicable this woman is. Hillary, in an propaganda piece staged with her top media disciple, emphatically denied that she lied:

Liar, liar, pantsuit on fire: Hillary Clinton still insists she didn’t tell the grieving families of the Benghazi victims that an anti-Islam video was to blame.

Yet family members say she said just that, three days after the attack, at the Sept. 14, 2012, ceremony at Andrews Air Force Base.

George Stephanopoulos asked her Sunday if she’d told the victims it was about the film. Clinton gave a flat “no.”

She added: “I said very clearly there had been a terrorist group, uh, that had taken responsibility on Facebook, um . . .”

At least four family members disagree.

Tyrone Woods’ father said he hugged Clinton and shook her hand. Then “she said we are going to have the filmmaker arrested who was responsible for the death of my son . . . She said ‘the filmmaker who was responsible for the death of your son.’ ”

Sean Smith’s mother said Hillary is “absolutely lying . . . She said it was because of the video.” Smith’s uncle backs her up.

This woman, like practically every fucking leftist, is a fucking ghoul. Just like Obama , whom can’t wait to dance on the corpses of victims of insane killers or terrorists – including the corpses of children – and use those left grieving after every tragedy to push the left’s agenda to shit all over the second amendment and to disarm the populous so the left can do evil the shit it really wants to do without fear of serious reprisal, Hillary has no problem lying to victims of tragedy either. And then she also has the balls to compound on the lies by publically calling these people liars for pointing out she lied.

Glen Doherty’s sister agreed: “When I think back now to that day and what she knew, it shows me a lot about her character that she would choose in that moment to basically perpetuate what she knew was untrue.”

“What she knew” refers to Clinton’s words to daughter Chelsea the night of the assault and the next day to Egypt’s prime minister, which made it plain the secretary of state knew full well that a terror group had long planned the attack.

The lie’s even in her words at the Sept. 14 ceremony: “We’ve seen rage and violence directed at American embassies over an awful Internet video that we had nothing to do with.”

Just why the administration united around this lie is another editorial. The disgrace here is Clinton’s refusal to admit her role — even pushing the fib to “comfort” the bereaved.

This administration, and the then Secretary of State, Clinton, lie. That’s what they do best. They won the election in 2008 telling lies. They then proceeded to fuck us all over to the tune of over $1 trillion for a proculous package that helped nobody but the connected few, big democrat donors, and the campaign coffers of democrats. That was followed by government bailouts of entities too-big to fail to the tune of another $1 trillion dollars, which included amongst so many insane things screwing over everyone to pay back their union buddies or doubling down on the tax payer money pissed away keeping too-big-to-fail special interests that donate to democrats alive, all while acting though and blaming the previous guy for a crisis of their making.

But they didn’t stop there, oh no. They then straddled the American people with the most horrible piece of legislation ever passed – Obamacare – which required so much favor buying from party members, since they could only pass this horrendous “we must pass it first so you can see what is in it “ bill by any other means but a straight party line vote, that will cost us trillions as it destroys the most competent and effective healthcare system on this planet in record time (fuck you leftists that pretend the measure of a good healthcare system depends on it being peddled as being free, because only idiots ever thing government mismanaged bullshit passes as anything close to free).

And the list of other lies goes on and on. They have failed at everything. Fucking over the economy and lying about it, while pretending the recovery is just around the corner or has happened? Check. Pretending they were the superior statesmen and would fix everything that cowboy Boosh had done, only to then piss away victories, piss on and piss off our friends and allies, and then suck the cock of our enemies? Double check! Making a mockery of our laws and government by enforcing only the laws they like while committing crime after crime (IRS scandal, out of control DOJ, abuses of power on a scale that would make tyrants feel envy, and much more) to cover up their failures and nefarious activities? Triple check!

Benghazi was just one in the many chain of acts of incompetence and downright stupidity, practically every one of them done to line the pocket of a select few on the left, so we shouldn’t be surprised how bad it was handled. Shit, Obama had an election to win – at all costs –and he had just told the American people not 2 weeks before that he had al-Qaida on the run, so there was no way these hyenas were going to admit they were lying about al-Qaida and got caught with their pants down. Another lie, especially one that would allow them to justify a move to control and censor the alternative media that was constantly undermining the job so well done by their DNC agents in the LSM that were protecting these scumbags from themselves, seemed like the logical course of action. After all, you never let a crisis go by without using it to push something otherwise unpalatable and vile if you are a collectivist.

If we lived in a country of laws and had real leaders in power, this shit wouldn’t be allowed. Instead we have criminals running the show and their lackeys in the media covering for them. So the left now has staked their claim to the WH on another Obama: an immoral narcissist liar that feels they are owed the seat and that the ungrateful and unwashed masses should feel lucky to get the chance to vote for her.

Fuck the lot of you leftists. Especially those of you pretending that the people that are real problematic are the lightweights running from the opposite party. When it comes to being crooked, vile, and evil, you leftists make the fucking devil feel like he should be taking notes. A Clinton administration would be a continuation of the same abuses, lies, and despicable and conniving behaviors that have been the hallmark of the Obama administration, so I can see why the left thinks she is owed this job.

If you are wondering how bad our country has become

Then you are not alone. Personally, as someone that has lived in many different countries and cultures, what I am seeing is America adapting the very things that I saw were so fucked up in these other countries and cultures that held them back. This country once was the place where success, hard work, character, and especially a dream that everyone, if they applied these things to themselves had a chance, defined us as a people. People in charge, even the people in politics, which tended to never really be the cream of the crop, accomplished things. Progress was not just a word, but the way of things.

Now the country is run by an unholy alliance of a bunch of credentialed scumbags – our new American aristocracy, with all the trappings and frailties of that very system our forefathers, now abhorred because they were white men, tried to hard to make sure could never come about here and fuck things up like they had in Europe – that feel we serfs don’t deserve them because we dare to resist their massive stupidity and idiotic ideas, and the select few ultra-rich people or giant corporate entities that these credentialed scumbags have decided to favor with monopolistic powers over others. That’s how we get them pissing away tax payer dollars enriching the special interests that push ludicrous and counter productive agendas like “green whateverthecuck” or trying to sell us serves on giving up our freedoms to save Gaia from a wholly manufactured global crisis. These select ultra-rich people and corporate entities have become richer than ever, while the rest of us are barely hanging on or even heading in the other direction. And that’s by design. These people want a 2 class society with them on top and the rest of us controlled by them, like the people they admired did back in the good ole USSR, China, Cuba, North Korea, Venezuela, and other such hotbeds of collectivist delusion.

Things have gotten so bad since the collectivists took over the executive and legislative branches of government in the major campaign of delusion that happened in 2008, that we now have lived in a perpetual depression that the left pretends really is just about to end or ended, while those of us that work for a living see nothing of the sort. Through a long implemented indoctrination system that took over control of the education system, they have managed to brainwash way too many into tapping into envy and greed, allowing them to produce a class of people that feel empowered to suck at the government’s teat, allowing them to use the electoral process to buy votes with the very money they steal from the productive, and giving themselves a patina of legitimacy. And they despise the productive for not just going along .

Our government is now in the business of choosing winners & losers, and they make a pretty lucrative living doing that. It is time to go back to smaller, less intrusive, and definitely less of an elitist crowd that actually understands their job is to serve the people, not to fleece them like this criminal bunch does.

That was by design, you idiots.

So, Bloomberg has an article titled “Obamacare Insurers Are Suffering. That Won’t End Well.” which basically points out that the dire predictions by everyone that was not a collectivist Obama cock-sucking bitch are not only panning out, but panning out much faster than expected, and wondering how this could have happened. After all, with a name like “Affordable Healthcare Act”, how can this boondogle be sucking up money down a black hole while delivering no measurable improvements of any kind other than the usual debunked donkey talking points?

It now looks pretty clear that insurers are having a very bad experience in these markets. The sizeable premium increases would have been even higher if insurers had not stepped up the deductibles and clamped down on provider networks. The future of Obamacare now looks like more money for less generous coverage than its architects had hoped in the first few years.

But of course, that doesn’t mean insurers need to leave the market. Insurance is priced based on expectations; if you expect to pay out more, you just raise the price. After all, people are required to buy the stuff, on pain of a hefty penalty. How hard can it be to make money in this market?

Let me answer that: Impossible. And that’s by design. This thing, from the very start, was design and put together by people that had to pass it in secrecy, so they could have avoided any scrutiny that would have shed light that what they had obviously was intended to destroy the existing US health insurance market. And as the title of my post points out, they did it by design, because the end goal for these crooks has always been a government controlled single-payer system that would allow government to control the lives of its citizens with even more impunity.

They will keep coming after the serfs, and they will get us to bow down to their will. We peasants should be glad our masters are throwing us these table scraps.

You got the title wrong..

Over at the Washington Free Beacon they have an article titled “Wealth of Congressional Democrats Spikes Despite Income Inequality Agenda” that gave me a good laugh. They got the title wrong. The democrats in congress have not been able to increase their wealth despite their inequality agenda, but have done so percisely because of that agenda. Collectivism, especially this new soft facism – a marriage between the state and certain large entities in the corporate world that pay it homage and good money – that the left lives by, exists to enrich the political class that banks on the envy and greed of those amongst the masses that feel it is unfair others make or have more than they do just because these others worked hard or inherited money from others that worked hard.

Jobs and Austerity

By reasonable standards, we got a good jobs report today. 271,000 hires with a drop in part-time employment, a rise in wages and positive revisions to earlier months. It’s not Reagan, but it’s good.

So … time for your monthly reminder. This is not supposed to be happening. We are now in our fifth year of “austerity” where federal spending has been essentially flat and state spending has fallen. According to all the Keynesians, we are supposed to be back in recession. Job creation simply isn’t possible without government spending. According to the likes of Krugman, that’s the only variable that matters: how much the government is spending.

Now just imagine if our employers weren’t hamstrung with over a trillion dollars in deadweight loss from excessive regulation, over-complicated taxes and an expanding welfare state. The economy is staggering around with a five ton elephant on its back and is still producing jobs.

Now I suppose a clever left-winger will reverse those statements. “The economy is succeeding despite regulation and Obamacare! If only we didn’t have austerity!” Here’s the difference. We can measure the effects of regulation and taxation. There are direct compliance costs that absolutely come out of the pockets of employers. The effects of austerity are based on speculation and economic models that have yet to predict anything. When it comes to which narrative we should believe — the very visible dollars being sucked out of our bottom lines or the theoretical dollars being eaten by “austerity” … well, you be the judge of which of those you think is real.

Croney capitalist billionaire wants to stop others from getting rich like him

Say what you want about Bill gates, but as of late he has turned into a giant bag of dicks. The man that managed to successfully create and hold a incestuous monopolistic relationship with big government that allowed the mega corporation he ran to crush competition and make him a fucking billionaire, now in his old age, is basically trying his best to limit membership to the exclusive he belongs to by asking that the bar that keeps the riff-raff out of the new American aristocracy be raised even more.

Never mind the idiotic fact that the crony capitalism of the last few decades that has all but subverted and destroyed the small business industries that used to keep our overregulated and overburdened economy growing by some miracle, is a direct byproduct of big government socialism he tells us we need more of. He pleads his case by calling of all things on the idiotic and discredited big government booga-boo of climate change.

Seriously? Of course they need socialism to cure climate change, duh! In fact, the people that champion this idiotic cult’s teachings were hoping that they could scare everyone else with their doomsday climate change predictions to get even more oppressive socialism that would otherwise never be acceptable rammed down people’s throats.

Don’t be fooled by these mega rich assholes, like Gates or Buffet, whom for some ungodly reason seem to push anti-capitalist bullshit. They do this for personal gain. They know they have enough power and wealth to keep anyone from taking theirs, and they push for more corrupt government control precisely because it will both benefit them personally while making it possible for them to control whom gets allowed in the credentialed aristocratic circle the left has managed to create in this country.

Capitalism died a long time ago, right about the time government inserted itself in the middle of any business transaction between willing participants, through mechanisms that control entry and protect special interests while pretending to be done to serve the public.

Fuck these assholes and the horse they rode in on. What we really need is a culling of the new aristocracy.

What is the most common fear of Americans in the age of Obama?

When Americans was surveyed about their greatest fears, the survey found the top issue was corrupt government.

The researchers asked a random sample of 1,541 adults to rate the level of fear for 88 different fear options across a variety of domains (like crime and natural disasters). Based on their findings, here were the top 10 fears for 2015:

• Corruption of government officials (58.0%)
• Cyber-terrorism (44.8%)
• Corporate tracking of personal information (44.6%)
• Terrorist attacks (44.4%)
• Government tracking of personal information (41.4%)
• Bio-warfare (40.9%)
• Identity theft (39.6%)
• Economic collapse (39.2%)
• Running out of money in the future (37.4%)
• Credit card fraud (36.9%)

I wish this was something we could just joke about, but I am actually surprised that the number of people that are aware of how corrupt our government has become – willy nilly enforcing laws to benefit the connected few and screwing everyone else over – was so low. And I am certainly not saying that republicans can’t be corrupt, but they are amateurs when it comes to taking government criminal activity to the levels democrats do, and then, they can’t even compete when you put them against the shit done by this administration and the sycophants that help do its dirty work for them.

Notice what was definitely missing? Panic about the collectivist manufactured “Gaia is going to burn up and drown us all unless you allow us to turn you peasants into serfs of an almighty state” big government types that want to sell the AGW fiction needed to scare people into giving up their rights and money.