Kaboom

Remember all that crap at the State of the Union about “fiscal discipline?”

Apparently they mean “after they bankrupt the entire nation“:

The latest figures from the Congressional Budget Office are up from previous estimates because Congress and President Barack Obama teamed up in December on bipartisan legislation to extend Bush-era tax cuts that were due to expire. The new estimates will only add fuel to a raging debate over cutting spending and looming legislation that’s required to allow the government to borrow more money.

I don’t know how much more Hope and Change I can handle.

16 thoughts on “Kaboom

  1. What good is a trillion dollar national debt if you can’t run trillion dollar deficits? Dream Big!

  2. Obama’s ignorance of simple economics — even simple math — is terrifying.
    He wants 80% of US electricity to come from “clean” sources by 2035.
    The US generates the more electric power than any other nation in the world. About 80% of it currently comes from non-clean sources — coal & natural gas.
    It took a century to build this capacity, and electricity use is expected to about double in the next quarter century.
    Getting 80% of our electricity from clean sources by 2035 is a fool’s dream. It will not happen. We would have to bring online 18,000 100MW nuclear plants by 2035 just to replace the current coal burning plants.
    Obama’s idea of entrepreneurship is equally bizarre. If some businessman had a tech that had a reasonable chance of delivering clean, 10 cent per kWh electricity private investors would be rushing to fund him.
    And if the tech succeeded the first thing the businessman would do is outsource its manufacturing.
    Obama seems to believe that entrepeneurs are people like Bill Gates, Steve Jobs, and — God help us — Jeffrey Himmelt. Jobs and Gates made their money by being savvy enough to exploit a regularatory framework (copyrights) to their advantage. Himmelt has no entrepeneureal experience whatsoever.
    Real entrepeneurs are more like the guy who opens a restaurant in an empty storefront in the hopes that he might make 8% profit on total sales and pay back his creditors.
    The further Obama stays away from America’s finances, the better.
    At least Bush had respect for the small businessman and he seemed to know that you can’t continue to write checks when the bank balance is zero.

  3. I read recently (sorry can’t remember where-probably Instapundit) that Obama has changed the old line “I’m from the government and I’m here to help you” to “I’m from the government and I’m here to claim I helped you”.

  4. Immelt got his payoff for being in obumbler’s pocket, supporting green energy on one hand (GE will make out like bandits on the generators for wind mills) and on the other hand, screw the taxpayer’s money to develop a new jet engine that isn’t needed nor is it wanted by the Pentagon, yet Jeffy boy wants “fair competition” claiming that their engine will actually save money. Now, where have we heard that load of bull before?

  5. Econ 101:
    The way that a giant, multinational conglomerate like GE stays in business and profitable is by exploiting economies of scale and erecting barriers to market entry by potential low cost competitors.
    “Creating jobs” is not on the list.

  6. And how did GE get the FTC to approve the sale of NBC to Comcast? Magic?
    I mean it’s the eqivalent of allowing John D Rockefeller to own the railroads his and his competitors oil is transported on. Think ABC/CBS/Fox/ESPN will get a fair shake come channel renegotiation time? Your average Concast customer will have 100 channels with America’s Biggest Loser, The Office and 30Rock reruns on 75% them.
    By the way BH429 – you also have to recognize GE’s leading position in making turbines and blades for the windmills Obama’s energy policy is tilting towards.

  7. Getting 80% of our electricity from clean sources by 2035 is a fool’s dream.
    To dream the impossible dream. To fight the unbeatable foe….
    We have President Barack Quixote, Man of La Moocha.

  8. Seflores;

    Yea. I mentioned the wind mills, but didn’t take it far enough.

    I’ll tell you how that scam got approved; Comcast’s CEO, Brian Roberts is another left wing nut that supports obumbler. So that was most likely another liberat back room deal. You know, like the ones they always accuse the conservatives of having? I switched to Direct TV after I found that out.

  9. Getting 80% of our electricity from clean sources by 2035 is a fool’s dream

    And who is biggest fool around? Well duh!

  10. Terry, I love explaining to dreamers just how big the fallacy of a switchover to “green” power is. And you haven’t even begun to touch on the difficulty of storage of power from green sources. It’s not like the sun shines at night for solar, or that the wind blows all the time and the most at peak times, or even tides can be commanded. Although I’d have to say that King Cnute and Obama’s dreams have about the same likelihood of success.

  11. BossHoss, let’s consider where the real jobs have been added in the last two decades. The Fortune 200 haven’t added jobs in the US (net), so big business has done its hiring by outsourcing. Meaning that any new jobs (net) have been created by small business. But big business is the segment of the economy that can bribe donate politicians.

  12. Here is the mindset of our ruling class in a nutshell:

    “No state needs to declare bankruptcy,” Lockyer said, “The states have sovereign taxing power the big companies don’t.”

    Read more: http://www.sacbee.com/2011/01/25/3348757/dan-walters-bankruptcy-for-states.html#ixzz1CCF2Aca9

    What Lockyer does not mention is that if states are forced to raise taxes to cover obligations laid upon them by previous state legislatures, this means that the legislature of, say, 1990, can dictate the public policy and legislative actions of the state legislature of 2011, bypassing the usual mechanism of constitutional change and by doing so violating the “consent of the governed” principle that is something of a cornerstone of a democracy.
    It’s almost as though they are doing this on purpose.

  13. Let us not forget the lightbulb scam!!!

    BOYCOTT EVERYTHING AND ANYTHING GE!!!!!!!!!!!!!!!!!!!!

  14. Scott has a great point. Where you can, avoid their products, which personally, I have been doing for years. My initial reasons were not related to their current crap, but I feel some additional satisfaction from being ahead of the game, so to speak.

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