Obama’s Reality-free Economics

The longer the mainstream media provides cover for the autocrat in the White House, the bigger and bolder his lies get. Lately, he’s been peddling the fantasy that there will be no real-life consequences to out-of-control spending. Sure thing. Just raise the debt limit and keep spending like a bunch of drunken sailors.
  

Here’s what those of us who live in the real world know about dealing with budgets, via Sen.Tom Coburn (R-OK) on the Senate floor last week ~

“We’re in trouble financially. We’re $30 trillion in the hole. Plus another $17 trillion in debt. Wouldn’t it be smart if we started addressing that problem before we blankly give an increase in the level of the credit card? Actually what we should do is we should cut this credit card up, which is what I’m going to do because that’s the way I vote. I think it’s time we quit borrowing money – actually I think I’ll just tear it up. Time we quit borrowing money against the future of our kids. It’s time we quit mortgaging their future. It’s time we start taking responsibility for the actions of the federal government rather than giving excuses on why we can’t get together and address the real problems of this country.”

~ Dr. Coburn on the Senate Floor October 8, 2013

 
While completely ignoring the out-of-control spending and unfathomable debt, President Obama deceitfully claims the U.S. will default on its interest payments if he doesn’t get his way ~

“Our government is closed for the first time in 17 years. A political party is risking default for the first time since the 1700s.”

 
Wrong. As Thomas Sowell explained about this canard ~

“Perhaps the biggest of the big lies is that the government will not be able to pay what it owes on the national debt, creating a danger of default. Tax money keeps coming into the Treasury during the shutdown, and it vastly exceeds the interest that has to be paid on the national debt.”

 
Obama is also trying to gin up sympathy for the poor federal workers, “victims” of the shutdown; “(b)ecause they’re being punished enough through no fault of their own.” :roll:
Yeah, cue the violins. Like John Stossel says: “Government Shutdown: Don’t Believe the Hype” ~

… the city that whines most about suffering through the shutdown, Washington, D.C., is now the richest geographic area in America. Washington got richer while the rest of America didn’t. Over the past 12 years, median income in the U.S. dropped about 6.5 percent — but not in D.C.! There, it rose 23 percent. Four of the five richest counties now surround Washington, D.C.

 
Washington D.C. is actually a reality-free zone. The rest of the country is being forced to support the fantasy.

 
Related:
Moody’s on Debt Limit: Calling Obama’s Bluff on Default
Budgeting in the REAL world
“None of You [Reporters] Were Math Majors, Were You?”

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