Thursday, October 17, 2013

BloggeRhythms 10/17/2013

Early start today, there’s a lot to consider.
 
First and foremost, of course, is the incumbent’s “win” in the debt increase. While that was no surprise, just another extension of the game that’s played every time the debt clock runs out, what has he really “won?”
 
According to Paul Bedard of the Washington Examiner; “The U.S. debt, which has jumped 55 percent under President Obama, is now so high that if working Americans had to pay their full share, the bill would be over $123,000, according to a new Harvard University Institute of Politics study of the nation’s empty bank accounts.
 
The school's fiscal 2012 Annual Report of the USA, which examines the federal budget, put the total debt at $16.7 trillion. But that's such a big number that the student authors tried to put it in perspective.

For example, that $16.7 trillion, which would go up under Obama’s debt ceiling plan the House and Senate are considering, is equal to: About $53,000 per every inhabitant of the United States, including children and the unemployed.”

Now, if this administration was a business, no prudent lender would lend it a quarter. Because knowledgeable financiers understand debt should be paid back from earnings and growth. It’s only operations that can’t pay their bills on their own that continually have to borrow to stay alive. And, if you stop to think about it, that makes absolute sense. Because sooner or later, if all you can do economically to survive is borrow, you’ll eventually be buried in debt you can’t ever pay back. Consequently, insatiable borrowing’s a sign of total management failure, as is the current administration. 
 
A further thought on the “win” came from Tim Stanley’s US politics in London’s Telegraph who asks,”What has Obama really won? He keeps his precious healthcare reform and he gets government open again – but tomorrow morning he'll still have the same gridlocked political system that he had the night before. The shutdown is a rare example of him winning, but remember that this lame duck president has not only had a very simple (and, frankly, inoffensive) gun control bill killed in the Senate but was so spooked by bad poll numbers that he tried to dump responsibility for military action in Syria onto the Congress – before quietly dropping the idea altogether. Any thought that the shutdown payoff will be that he can sail an immigration reform package comfortably through Congress is pure fantasy. This is a broken presidency living out its last few years either holding off Republican attacks or lazily cruising the country on some pointless, endless, fatuous campaign trail. Obama's administration is politically bankrupt.”

Mr. Stanley’s thoughts have similarly been confirmed by the latest Rasmussen poll which they also introduced by asking “What has he won? Just 13% of Likely U.S. Voters now say the country is heading in the right direction, according to a new Rasmussen Reports national telephone survey for the week ending October 13. That's down from 17% the week before and the lowest finding since the week of October 20-26, 2008, when George W. Bush was still president.  
 
Confidence in the country's direction has fallen 15 points since the government shutdown began two weeks ago and is down from a high of 43% the week before Election Day last fall.”

So, now that the debt farce is over, and the incumbent’s “won”, where are we really? Debt’s at its highest in history, the health care tax is still going to strangle the entire economy, thirty hours have become the new work-week, part-time employees are becoming the standard, we still depend greatly on foreign oil, the Keystone pipeline’s still stifled, foreign policy’s being run by others including Russia, and GDP is now likely to shrink.

Therefore, if this is what Dem’s think is “winning,” I can’t even begin to imagine what losing looks like, but it probably has something to do with with being blown up by a nuclear explosion, which isn’t all that far from where they’ve taken us now.

In closing, I found an article on Drudge that sums our economic situation up nicely and is a very accurate precursor of the fiscal train wreck to come: Ice cream plant SHUTTING DOWN because of Obamacare.

That’s it for today folks

Adios



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