For those who wonder just how leftist the media and the country are going, take a look at this CNBC discussion of the second round of AIG bonuses. Kindly notice that Leslie Marshall (from national Radio) and Tanya Acker (from the Huffington Post) are in favor of throwing legal obligations to the wind based on the income or situation of the average American. In other words, what is right by law has nothing to with what is right from a socialistic viewpoint. What that boils down to, ladies and gentlemen, is that your contract can be voided if it does not meet the social norm, or average, in terms of benefits, salary, and so forth. And, if you don’t think that’s important, look how successfully they were allowed to out-voice the more business minded speakers (leftist though they are).
On the subject of leftists taking over with media help, have you been paying attention to what it will cost for the government to get back to fiscal responsibility? According to an article at CNNMoney last week:
Under Obama's budget, Gale and Auerbach (Urban-Brookings Tax Policy Center) estimate the fiscal gap would be 9% of GDP. Conceptually, that means to restore fiscal balance over the long-term the federal government would need to increase taxes by 9% of GDP or cut spending by that amount starting now and lasting "until the end of time," Gale said.
They go on to note that neither the Republican (“no new taxes”) or Democrat (“only tax the rich”) stance on taxes has any fiscal responsibility.
That article is actually about the cost of healthcare legislation. But, there are interesting points on other items, too. But, on the healthcare point:
Gale and Auerbach (Urban-Brookings Tax Policy Center) estimate that for health cost savings alone to stabilize the debt-to-GDP ratio over time, the growth rate in health costs would need to be slowed by 3 percentage points a year -- for 75 years.
In other words, Obama’s healthcare savings, without major tax increases, are a fiction. Of course, this goes along with the CBO report that the healthcare legislation will actually increase the deficit by $1 trillion. Liberals were quick to change that verbiage to “increase the cost”, but the report specifically said it would increase the deficit.
(…make sure you pay attention to how things are said…)We also need to remember that all the projections on budgets are based on economic growth and output. Tax increases equal to 9% of Gross Domestic Product is based on the projected economy. For those who don’t know, 9% of GDP is A LOT! So, what if the economy continues to crater, instead of responding to the first (and expected second) stimulus?
It is, after all, a real possibility. There are many who say the market increases are not backed by real economic activity to match it. Unemployment projections during the campaign and early days of the administration said it would not reach these levels, and now Obama is projecting double-digit unemployment. And, several prominent economists are now saying
no economic recovery in the second half of 2009.
Over spending got the world into this mess. And, government wants you to believe that increased borrowing will solve the problem of overspending. Congress, specifically the banking committees chaired by Democrats, allowed this mess to happen in the US. Deregulation may have played a part, but it was not the whole story.
I know this goes contrary to what the media and Liberal leaders are telling Americans. So, take some action. Hold the media accountable. Hold your Congressmen and Senators accountable. Let your voice be heard.
