From the President of the United States of America: Our fiscal position, actually, now is such—you know, the deficit’s been cut by more than half—where we’re in a position to make some smart investments that have huge payoffs, that historically have not been controversial, historically have garnered bipartisan support. From the Congressional Budget Office: Thanks to a recovering economy, spending restraint and higher tax receipts, the Congressional Budget Office now projects the deficit for 2014 will be $514 billion, or 3% of the size of the U.S. economy. As a share of gross domestic product, that represents a nearly 27% drop from last year, and marks the smallest deficit since 2007. Okay. Fact Check/Bullshit Meter: Something has dropped. Not by half, but by 27%. What is a 23% difference when you are in Washington? Let it go. But where we’re in a position to make some smart investments that have huge payoffs,????????????????? We are talking deficit.That is money created out of thin air by the Federal Reserve to loan to the Treasury Department to pay national debts like keeping the lights on at the White House and the garbage collectors coming around. Real debt. Money owed to get through the day. There is no money being saved--no position to make some smart investments. You make investments when you actually have money to invest. You dont say I just made a smart investment borrowing on my credit card. Bernie Madoff can talk that way--I made a smart investment taking $18 billion of clients money and pretending to make $65 billion. Hey, if the commander in chief can talk that way in the White House then it should work the same way out here in the real world in the house of mutual funds where we do real investing. When Mr. Obama became president in January 2009, the total federal debt stood at $10.6 trillion. This week, it hit $17.67 trillion. I am not saying that adding $7 trillion to the national debt is a bad thing. Maybe it will work out for the good. Maybe we will discover free electricity--solar panels you can spray on your roof--or food that falls from heaven like mana so the homeless have something to eat and the cost of living goes down. Hey. Anything is possible. I am just saying only a fool or someone crazy or someone who believes his own lies or else a politician in Washington would dare to say that we’re in a position to make some smart investments that have huge payoffs. You could say with possible accuracy--We are in a position where if we keep borrowing more money and going deeper into national debt we can put in place new infrastructure or continue to stimulate the economy in ways that will make us enough money to pay of the new money we keep borrowing each year, or Hey, while I am in office we can keep paying for all sorts of necessary expenses and let the future generations go to work figuring out how to pay for it. That is all I am saying. With truth you describe things with some degree of accuracy. With lies you are elected to office in Washington and spend a whole lot of time playing golf and vacationing in Hawaii or Marthas Vineyard rather than overseeing a massive, bloated federal bureaucracy that specializes in losing email and your Secretary of State says, Al quada has been defeated and is in retreat and oh dont they hate videos we make. We should be more respectful so that our free speech doesnt interfere with their right to mutilate women and kill anyone who exercises free speech.
Posted on: Mon, 11 Aug 2014 00:07:04 +0000