Friday, February 27, 2009

In 30 days or so

Obama has crushed any hope I had for him leading from the middle. Yes I knew that, like most politicians, he campaigned from the left during the primaries, and then moved to the center during the election. I was hopeful that he would govern from there. That hope is now gone. Although I know that elections have consequences, never in my wildest nightmares imagine them to be like this.

Our true deficit, often cited as roughly $460 billion in 2008 is actually over $5 trillion dollars!!!! How is this you ask??? Well its a neat accounting trick the government has been using for years called "cash accounting". When they collect a dollar for Social Security they send that dollar on anything from a F-22 fighter jet to a "Bridge to no where". Its a simple subtraction of "Cash in" minus "Cash out".
The problem with this is that Social Security money is supposed to pay for, well....Social Security! "Cash Accounting" does not account for future expenditures.
"Cash Accounting" is deemed acceptable for small businesses as seen here.

This is how President Clinton could claim(with a straight face) to have had a "budget surplus" when in fact he was running a budget deficit. Under the governments accounting method, there was no deficit because they spent all of the Social Security monies. Not to fault President Clinton in particular, because administrations have been raiding the Social Security pot since....well since there was one to raid.

The true deficit under President Bush was just over $5 trillion dollars. Under President Obama it will be in the area of $8-9 Trillion dollars. And that's JUST the DEFICIT!

I do have to give credit where credit is due though. President Obama's position on Iraq does seem reasonable at this time. He is, more or less, withdrawing troops within the time frame negotiated by President Bush under the terms of the SOFA(Status of Force Agreement) last year while still leaving open the ability to re evaluate the situation as needed.

Speaking of President Bush, its kind of ironic to see how many of his positions that President Obama is adopting:
Rendition? Yes.
So called torture: With his approval.
Position on Iraq: More or less the same as Bush's
Denying trial to enemy combatants: Only some held in Afghanistan
And a host of other.....


No comments:

Related Posts with Thumbnails