"But families across the country are tightening their belts and making tough decisions. The federal government should do the same. So tonight, I'm proposing specific steps to pay for the trillion dollars that it took to rescue the economy last year." -- President Obama, State of the Union Speech, January 27, 2010
Nice words. But where's the beef? In less than a week, President Obama has forgotten his promise of having the federal government control its spending. Instead he has proposed a $3.8 trillion budget that will create a more than $8 trilllion deficit over the next ten years (that's after we save $1 trillion -- a savings that will only be achieved after ten years).
I don't know where you come from, but last time I checked an $8 trillion deficit does not add up to "saving money" or "controlling spending." For more budget analysis, check out the following:
http://www.usatoday.com/news/washington/2010-02-01-budget-analysis_N.htm?csp=hf
http://moneymorning.com/2010/02/02/obama-budget-deficit/
In other (virtually unreported by mainstream media) news, despite all the hype regarding our fourth quarter GDP growth, many economists are saying the numbers just don't add up...and warning that more tough times could be ahead.
http://moneymorning.com/2010/01/30/us-gdp-3/
Finally, is TARP working? According to the Special Inspector General of the TARP program...uh maybe not.
http://www.housingwire.com/2010/02/01/sigtarp-warns-of-second-housing-bubble/
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Sorry guys...I just updated the blog so anyone can post comments.
ReplyDeleteHere's a great chance for California citizens to take part in something important in our state AND federal government.
ReplyDeleteThe U.S. census is done every ten years, per the constitution. After this is done, congressional districts are redrawn to reflect changing populations. These are very often "gerrymandered", meaning the district lines are twisted and tortured to insure a party holds the seat. California 36, for example, winds like a snake from Wilshire Blvd., around the backside of Palos Verdes, to Wilmington.
California voted in 2008 to have a citizens commission be a part of this redrawing of the lines, and they are now taking applications to be on this commission. Apply at this link:
http://wedrawthelines.ca.gov/index.html