We had a record deficit for teh month of Februar: 229 BILIOIN dollars added to the debt in 29 days (a record, I thin , for not only February, but for any month). Youi know that our Liar-in-Chief, President Obma, is not to be believed on the deficit. However, you may not fully realize that the gOP canot be believed on the deficit/debt, as this blog has shown you i article after article. The GOP House had to vote to spend EVERY DIM ME of the money the Federal Government spent in Feburuary. That is right. The GOP controlled House is affirmatively respojnsible fore adding 229 BILLIN dollars to the national debt in February alone. I am perfectlyl aware that Obama and teh Democrats wanted to spend MORE. Bu;t the GOP LIES when it says that GOP members of Congress "had" to vote for this spending. That is simpply not true. If the GOP House did not APPROVE EVERY DIME, the money could not have beeen spent. Oh, Democrats could have "shut down the government" to try to FORCE the GOP to approve the spending, but that is a matter of COURAGE. The GOP could have put the COUNTRY ahead of their political careers. They chose not to do that, becaue they are COWARDS.
Again, look at the payroll "tax cut" bill alone (including other speding and deficit increasing measures for this year (the ONLY year that matters, unless you really think that Soviet Union 5-year lans, or parevious Congressional ""lnog-term" plans ever actually WORKED). The previous, ridiculous two--month extension was PART of taht 229 billion dollar increase int he debt in February. And the one-year extension, passed in February, will be part of the deficit/debt increases announced for MARCH, and every subsequent month this year. Do yoiu see why I call the Tea Party a FAILURE, and why I call GOP "Tea Party" members of Congress a TOTAL FRAUD? DEFEAT THEM ALL. Oh, sure, you shouuld also defeat EVERY Democrat in Congress.
Hacker Boy (still denying Skip's ridiculous assertion that I am Piers Morgan, who learned all about hacking working for Rupert Murdoch's operation in Britain, and still denying that I am connected iwith Rupert Muadoch's networks/companies in any way): "Skip, do you even rEAD your own headlines? Is yyour eyesight, which yu useas an excuse for your disgrraceful typing, really THAT (using another of your disgreaceful habits of all caps) bad? Your whole alleged point is that ur deficits are out of control. How can you say that deficits are "so small", and still write what you do in the body of the article? You see why I have to hack into this disgraceful blog? It is to much for even a soic Brit to bear--OOPS, scratch that,. I am not a Brit."
Skip: "Ah, po0or Piers. His disgraceful love frest interview with Bill Maher (stil t be the subect of an article) has turned his brain further to mush. For the explanation of the headline, we need to segue to the economic fascists of CNBC this morning, including Jim Cramer. You will reember that "economic fascists" are not disciples of Adolf Hitler. They are disciples of the economic "theory" that predated Hitler: advocating a "parnership" betwween Big Business and Big Government to CONTROL the economy. "Economic fascism" has been accurately described as: "socialism with an capitalist veneer". CNBC, and most of Wall Street, are now economic fascists believing that they are in a "partnershp" with the Obama Administration (especailly Treausry Secretary Geitner and Fed Chariman "Bailout Ben" Bernanke). That is why the despicable, awesomely stupid Jim Cramer stated this morning (I heard h;im): "I love Tim Geitner" Expect a wedding announcement any day now, in one of those 8 states that our media keeps applauding who have approved the farce of "gay marriage". Of course there will be a marriage. You don't think Jim Cramer is a SLUT, do you? I digress.
What did Cramer and CNBC advocate this morning, as the good economic fascists that they are (expecting CONTINUING bailouts from the Federal Resrerve for Wall Street, as have been occurring all along under the Obama Administratin)? I will tell you. The economic fascists of CNBC advocated that the Federal Reserve AGAIN (QE3 is the term for this advocated further printing of money) "purchase the DEBT issued by the Federal Government. This is the "magical" dvice by wh;ich the Fed simply creates money out of thin air (sort of like the 'God particle" being discussed in science news this past week) to buy our debt (since China can no longer be relied upon to do it). No. It does not end there.
On top of that, Cramer (upholding his standing as one of The Stupidest Men on Earth) advocarted that Geitner (who he "loves", remember--partisan Democrat that Cramer is, as is true of almost all of CNBC) immediately issue 500 BILLIN dollars of 30-year debt in order to 'proive" that we are "not like Greece" (because we can get a 30-yer loan). Look at how STUPID Cramer is. 500 BILLIN dollars is just slightly over twice the EXTRA debt we ADDED for the month of February alone. What Cramer did was PROVE that we are headed toward being EXACTLY like Greece--not the opposite. But it gets wrose.
Look at what Cramer, and the rest of CNBC, were really advocating. They were advocating that the FED (our own government) "purchase" our own debt, to continue to "stimu;late" the economy and BAIL OUT Wall Street. In flation be damned. Look at what hapens when you combine hisis with what Cramer advocated: The FED would become the "creditor" of the Federal Governemnt to the tune of about 500 billin dollars, for 30 years, since now one else would probably buy that much long-term debt from the U.S. (without a BIG rise in U.S interest rates). Thus, 500 BILLIN dollars would have been 'created" out of NOTHING. Talk about a GOD PARTICLE. "Bailout Ben" Bernanke is the "God particle' for Wall Street economiic fascists. Inflation be damned.
Note how this makes an economic "recovery" IMPOSSIBLE. The ony way that interest rates cn remain under an kind of control, and inflation not go wild--with this kind of ridiculous policy--is for the econmy to STAY :WEAK. Otherwise, we are headed right for Greece and teh Weimar Republic. The moment the economy sarts to show REAL sighns of life, hyperinflation is ready to explode at any moment. We already have a STEALTH, Bernanke, inflatin in things like energy, commmodities, FOOD< and some other things. It is ONLY a DEFLATINO in housing, and some of the rest of th;e eeconomy, that lets the Fed PRETEND that inflatin is not lurking because of Bernanke's policies at the Fed (in his role of lead economic fascist). "But, Skip, what does al of this have to do with a SMALL deficit?
This is the delicious part (unless you break down and start crying, as I occasionally do). To be fair, some me of the OTHER economic fascists at CNBC viewed Cramer's proposal to immdediately issue 50 BILLIN dollars of LONG-TERM debt with HORROR. Why is that? It is because the ONLY way that the deficit is made to appear as LOW as it appears to be is by keeping the INTEREST COST on the natinoal debt LOW. That is why the deficits in the Obama years have been LESS than projected at the beginning of each year. Bernanke and the Fed have kept interest rates ARTIFICIALLY LOW, deliberately, to avoid the higher interest rates that would ordinarily result from puttin gout so much debt. Part of that has been for Geitner to borrow SHORT-TERM. The average maturity of our present loans to cover our natinal debt is maybe 7 years. Cramer wantst that maturity extended to 3e0 years, for a big huntk of our debt. Problem, as the others ponted out to hhimm" That will eXPLODE the deficit by substantially increasing the INTERST COST. This explains the headline. Artificialy low interest rates have raised prices, while at the same thime they have made the deficit appear BETTER than it really is--SMALLER than it really is. If interest rates rise, the government defict is going to BALLOON. That prospect is what filled other people at CNBC with HORROR. Thheir whole goal here is to AVOID REALITY, in favor of this econbomic fantasy world of present-day economic fascists.
Look at the other delicioius irony here. CNBC, and the other "networks of NBC" (not to mentin the rest of the mainstream media), ar pushing the idea that the economy is FINE under Obama (recovering nicelyl ow). Why, then, do we NEED continuyed "stimulus" from the Federal Reserve? Wll, CNBC believes that consistency is the hobgoblin of little minds. They have no problem contradicitting themselves. This morning, that said that the econmy was stil FALTERING, and in danger of faltering further. In other words, they are ADDICTED to BAIOUTS. They are AFRAID that this entire house of cards is going to fall, despite thewir "whistling in the graveyard" assertions that the economy is now in good shape.
You can see why I loook in on CNBC, even as every time I do I have NIGHTMARES. How else can I learn wha FANTASY the economic fasicsts of Wall Street and the Obama Administratin are now pusshing? If you htink any of this makes sense (what CNBC and Cramer are saying), you need to aply for a job. They NEED new blood. I get the feelign that the people that are there now, definitely including Cramer, KNOW that this is all nonsense. And they are having trouble even SOUNDING "convincing" now. It is like a psychotic break (see first article today), where the fantasy world totally overwhelms reality, and it becomes obvious that we are not dealing with rational people. I keep getting the feeling that is in the process of happening on CNBC,as well as in the rest of the mainstream media. How else can you explain attempting to make "free contraceoption" a RELIGION, or asserting that one or two stupid statements by Rush Limbuagh are the IMPORTANT issues in theis coming electin?
There (the economic fascists on Wall Street) truly are The Stupidest People on Earth (a title they share with modern "journalists").
P.S. no proofreading or sepll cehckng (bad eyesight). Do the math yourself. We have a 15 TRILLIN dollar debt, and increasing. What happens if interest rates on that debt RISE by even 1%? The number dwarfs any "deficit reductin" we have even PRETENDED to accompish. Then note that interest rates have been PUSHED DOWN by the Fed (helped, it is true, by recent problems in Europe) much MORE than 1%. See why any real recovery is IMPOSSIBLE? Either INFLATINN, or HIGHER INTEREST RATES, or BOTH, will stop any such "recovery" in its tracks.