Krauthammer nails it again part IIIIIIIIIIIIIII

[GettnHuge 2]

http://www.washingtonpost.com/wp-dyn/content/article/2011/02/17/AR2011021705270.html

 

 

Obama's Louis XV budget

 

Five days before his inauguration, President-elect Obama told The Post that entitlement reform could no longer be kicked down the road. He then spent the next two years kicking - racking up $3 trillion in new debt along the way - on the grounds that massive temporary deficit spending was necessary to prevent another Great Depression.

 

To prove his bona fides, he later appointed a deficit reduction commission. It made its report last December, when the economy was well past recession, solemnly declaring that "the era of debt denial is over."

 

That lasted all of two months. The president's first post-commission budget, submitted Monday, marks a return to obliviousness.

 

The budget touts a deficit reduction of $1.1 trillion over the next decade.

 

Where to begin? Even if you buy this number, Obama's budget adds $7.2 trillion in new debt over that same decade.

 

 

But there's a catch. The administration assumes economic growth levels higher than private economists and the Congressional Budget Office predict. Without this rosy scenario - using CBO growth estimates - $1.7 trillion of revenue disappears and U.S. debt increases $9 trillion over the next decade. This is almost $1 trillion every year.

 

Assume you buy the rosy scenario. Of what does this $1.1 trillion in deficit reduction consist? Painful cuts? Think again. It consists of $1.6 trillion in tax hikes, plus an odd $328 billion of some mysterious bipartisan funding for a transportation trust fund (gas taxes, one supposes) - for a grand total of nearly $2 trillion in new taxes.

 

Classic Obama debt reduction: Add $2 trillion in new taxes, then add $1 trillion in new spending and, presto, you've got $1 trillion of debt reduction. It's the same kind of mad deficit accounting in Obamacare: It reduces debt by adding $540 billion in new spending, then adding $770 billion in new taxes. Presto: $230 billion of "debt reduction." Bialystock & Bloom accounting.

 

 

[Recliner Pilot 61]

This guy gets it. He just undressed the Emperor.

[GettnHuge 2]

This guy gets it. He just undressed the Emperor.

 

go away

[Recliner Pilot 61]

Go away?

 

If I didn't post in this thread you would be talking to yourself and this would be a GFIAFP wannabe thread.

[drobeski 3,061]

you 2 get along

[Recliner Pilot 61]

He started it!

[MedStudent 56]

This guy gets it. He just undressed the Emperor.

 

I think you and gh would love to undress krauthammer. The gheyness exhibited by you two is quite sickening.

[Recliner Pilot 61]

I think you and gh would love to undress krauthammer. The gheyness exhibited by you two is quite sickening.

 

Oh........too bad...........missed setting that hook again. You may need to get another hobby.

[rholio 339]

Oh........too bad...........missed setting that hook again. You may need to get another hobby.

 

Maybe find some bets to welch on?

[GettnHuge 2]

wiks

Louis XV (15 February 1710 – 10 May 1774) ruled as King of France and of Navarre from 1 September 1715 until his death.

 

Louis enjoyed a favorable reputation at the beginning of his reign and earned the epithet "le Bien-Aimé" ("the Beloved"). In time, the debauchery of his court, the return of the Austrian Netherlands (which was gained following the Battle of Fontenoy) at Aix-la-Chapelle, and the cession of New France at the conclusion of the Seven Years' War led Louis to become one of the most unpopular kings in the history of France, after losing all of the American colonies and their imported resources. He was succeeded by his grandson Louis XVI.

 

His ill-advised financial policies damaged the power of France, weakened the treasury, discredited the monarchy, and arguably led to the French Revolution which broke out 15 years after his death.^[1]