Sunday, January 24, 2010

Obama endorses deficit task force

Obama is endorsing a deficit task force that will be charged with the job of coming up with suggestions on how to reduce the deficit.

Rather than focus on deficit reduction, which will, without question, mean lower output and higher unemployment for years to come, the president could have simply shown the public and his entourage of deficit hawks this simple chart below, which shows that the deficit is still tiny compared to the 1940s.

Then he could ask his deficit hawk friends why that deficit didn't "bankrupt" the United States? And if they're really up to the challenge he could follow that question with, why did we experience an enormous surge of prosperity following that deficit?

Finally, he could show the public--many of whom are without jobs--a very graphic explanation of why it is necessary to increase the deficit to get us back on the road to prosperity. Duh!!


googleheim said...

The superconducting supercollider was supposed to provide 40 TeV of energy - enough to expose many new theories of fundemental science.

At a revised cost of $12 billion is was cancelled. What an asset that would have been on the books even at $20 billion compared the crookery of wall street !

Instead the Europeans have their Large Hadron Collider at a mere 12 TeV of energy at a cost of $6 billion dollars !

The cancellation of the SSC in Texas created a recession in Texas region including Dallas due to the withdrawl of federal funding support.

When the government balances budgets for appeasing the deficit hawks, money exits the real economy and we are at a loss.

Handing over economic lead ership to China ?

We are also handling over our scientific leadership to Europe.

This is an ongoing joke or what ?

mike norman said...

Yes and that's REALLY an example of wasteful spending: dispensing funds and then NOT finishing the project. What a waste!

googleheim said...

Another case is like what has happened in Haiti. Even more cases than possible to write out.

But one that is bugging me is the fact that someone could have loaded up an ocean barge with a capacity of 1800 metric tonnes the very same day the earthquake happened. Departing in Miami and reaching Haiti in 6 days it could park in ANY PORT since it floats in shallow water.

Finally, a single barge like that could deliver more aid in a single shot than ALL aid that reached Haiti by all other means shown recently within 10 days combined !

Barges are more expensives supposedly but ..

Now imagine what 10 barges could have done !!!

Finally, similarly it may look like stimulus money is a barge of a deal - expensive, slow and burdensome - but it is not.

The big fancy container ships stuck at the wrecked ports are like the TARPs and banks which never discharged their containers or monies to those who need it.

The air drops are like typical air force brats or wall streeters who think they are soooo important to the world with their fake rally on fake financial piggy banking.

And the deficit hawks, tea party stop-a-thing bullies, and creative destructionists are the ignorant Pat Robertsons who say that Haiti made the deal with the devil when in fact the entire world was the dealmaker by ignoring Haiti in the first place all these years.

MortgageAngel said...

Ah goog - quite profound and yet my face kinda hurts from laughing.

Barges. Brilllllliant. Of course! :) What it costs should be no object! (We all know this) Imagine the relief we could send if we approached Haiti and all like disasters as though money were no object! And it shouldn't be! Our government is stupid!

Come to think of it - is there even a "line item" on the federal budget for emergency/disaster relief?

We'll never know how many lives could have been spared.

MortgageAngel said...

btw, would be really nice to have a click/share gadget for this blog.
peace out

MortgageAngel said...

emailing links is so yesterday!

k i'm done

mike norman said...


Not sure I know how to do that, but I'll look into it.

MortgageAngel said...

It's easy. Go to your dashboard, click layout, click add a gadget :)

mike norman said...

And I have to do that on each post?