• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Guest Post: Obama's Budget Is A Fantastic Comedy

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Tue, 02/15/2011 - 13:31 | 963923 I think I need ...
I think I need to buy a gun's picture

in what currency?

Tue, 02/15/2011 - 13:56 | 964013 nope-1004
nope-1004's picture

You have to be a comedian to be able to relay a "fantastic comedy".

So it is with Obummer.  He's a joke, really.  No substance, just all talk.

 

Tue, 02/15/2011 - 14:12 | 964054 IBelieveInMagic
IBelieveInMagic's picture

"Deficits don't matter" - Dick Cheney

Enough said.

Red team or blue, the policy is the same.

Tue, 02/15/2011 - 15:05 | 964342 oklaboy
oklaboy's picture

well it seems Obamo like taking it up the arsy, why shouldn't we?

http://newsflavor.com/politics/us-politics/the-ulsterman-report-sex-and-murder-in-the-land-of-obama/

Tue, 02/15/2011 - 15:24 | 964428 MJ
MJ's picture

Maybe he just told us massive inflation is a sure thing.

Tue, 02/15/2011 - 13:34 | 963929 Rule of 72
Rule of 72's picture

Fantasy or comedy?  I couldn't decide which way to label the Obama budget, so I went with both.

I'm going to go with tragedy.  Of the Shakespearean variety, where we all end up dead in the end.

Obeyme has revenue-shitting unicorns to get him to his projections.  Little-known fact.

Tue, 02/15/2011 - 13:54 | 964004 blindfaith
blindfaith's picture

chances are he will balance the budget by dumping 50% of the government workers and saving salaries and pensions in one giant leap into greener pastures.

Seems to me all the unicorns have left and new ones are warming their own electric chairs.

 

But seriously...why do we need any government employees when we can make up numbers and 'facts' on the fly without them.

Tue, 02/15/2011 - 15:21 | 964414 Arch Duke Ferdinand
Arch Duke Ferdinand's picture

Do Politicians speak out of both sides of their mouths?

Pat Paulsen says perhaps they do...

http://seenoevilspeaknoevilhearnoevil.blogspot.com/2011/02/do-politicians-speak-out-of-both-sides.html

Tue, 02/15/2011 - 13:34 | 963931 Alcoholic Nativ...
Alcoholic Native American's picture

Are governments that allow multinational corporations to litterally suck billions in profits out of a country on a daily basis for a global investor class supposed to die?  Seems like they would.

Tue, 02/15/2011 - 19:31 | 965248 DaveyJones
DaveyJones's picture

Like most criminals, they should suffer deprivation first

Tue, 02/15/2011 - 13:37 | 963939 Buckaroo Banzai
Buckaroo Banzai's picture

In a related story, massive tax increases proposed by CT's new Democrat Governor Malloy. What a surprise!

http://www.courant.com/news/connecticut/hc-malloy-taxes-0215-20110214,0,...

Tue, 02/15/2011 - 14:16 | 964098 IBelieveInMagic
IBelieveInMagic's picture

This is fair -- has to be applied on spend. Income tax need not be changed dramatically. /s

Wed, 02/16/2011 - 01:01 | 965901 Freddie
Freddie's picture

Well the people of CT vote for shit like Lieberman and that ass Bluemnthal - I hope they enjoy.  Idiots.   America is a lot like what happened to California.  We had paradise (or as close as you can get) and we had to destroy it.

Tue, 02/15/2011 - 13:39 | 963943 Vergeltung
Vergeltung's picture

excellent article.

Tue, 02/15/2011 - 19:33 | 965251 DaveyJones
DaveyJones's picture

Was gonna give everyone the link in a comment on another thread, glad Tyler posted it. He may not be as witty as Tyler but he has excellent teaching skills and the ability to translate and condense complex subjects  

Tue, 02/15/2011 - 13:39 | 963944 overmedicatedun...
overmedicatedundersexed's picture

with inflation anything is possible..rising taxes, and growing GDP sure ,thats why benny can't see inflation.

of course mcd's big mack will cost $15.00 and PM's will skyrocket.

Tue, 02/15/2011 - 14:05 | 964045 blindfaith
blindfaith's picture

I just bet all these bankers and folks like warren buffert are going to pop out of the woodwork and say " here ya go, we'll give ya the money to pay off the debt'.  Shoot, that is chump change to them, sofa money.

Tue, 02/15/2011 - 13:40 | 963946 topcallingtroll
topcallingtroll's picture

The troll is getting very scared and pessimistic now, which means the economy is about to boom and stock market to da moon!

Tue, 02/15/2011 - 13:58 | 964019 walküre
walküre's picture

They were lying ever since the scam of 2008. It was too obvious and it was too easy to expose with the internet and a few good analysts. Numbers don't lie. The green shoots line was touted which turned into the recovery line and now we're up, up, up and away with a 65% increase in government revenues.

Outsourcing jobs hasn't slowed down or stopped, it has actually increased and China and India are the main beneficiaries. There isn't much the US is producing that the world actually wants and cannot get anywhere outside the US. The US corporations are only in the US by virtue of registration but the bulk of their business is done overseas.

You have a US market with 330 million people of whom a vast majority is simply broke, unable to get up and running again and has no savings. A few at the top are richer than ever.

China's and India's economy are exactly the opposite. There's a growing middle class with a growing appetite to be a consumer of goods and services AND their credit is increasing because their banks can ask for collateral.

This budget is beyond stupid for those that have more than a 5th grade comprehension level.

Tue, 02/15/2011 - 14:11 | 964077 IBelieveInMagic
IBelieveInMagic's picture

Outsourcing is the sacrifice that America (lower rung America to be precise) has to be make for keeping this reserve currency based financial system going -- no outsourcing, game over. Back to bilateral trade, the great game, etc.

 

 

 

Tue, 02/15/2011 - 14:25 | 964138 walküre
walküre's picture

I'd like to believe .. in magic ... as well.

Just can't do it anymore.

Tue, 02/15/2011 - 13:40 | 963947 Rainman
Rainman's picture

I see a big fat VAT in our future......post-2012, of course.

Tue, 02/15/2011 - 14:16 | 964096 Logans_Run
Logans_Run's picture

Is that how we will rid ourselves of this crop of incompetent leaders? Boil them all to death? lol

Tue, 02/15/2011 - 14:18 | 964105 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

IF PEOPLE GET SMART THEY WILL GO BACK TO THEIR ROOTS AND BARTER.

http://www.barterquest.com/browse/haves

 

http://raleigh.craigslist.org/bar/

 

TIME TO GET SMART PEOPLE!

Tue, 02/15/2011 - 13:41 | 963949 rookie
rookie's picture

OT - Clinton delivering major internet freedom speech at GWU today.  Can someone ask her why ZH servers have to be outside US and why I received so many Error 503 messages while trying to read last year?

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aXqN20e39muk

 

Tue, 02/15/2011 - 14:02 | 964034 Azannoth
Azannoth's picture

Try living in Germany I receive an 'Page Blocked' from my ISP on every 10th page I visit and 1/3 of youtube vidoes are 'Not available in your country'

Tue, 02/15/2011 - 13:41 | 963950 Greater Fool
Greater Fool's picture

Until and unless you hear about cuts to the big four - Defense, Medicare, Medicaid, and Social Security - you can be certain you are merely listening to partisan talking points aimed at posturing for the next election, not credible plans for attacking the root of the problem.

Credible thoughts on how to attack the root of the problem were floated recently by a commission of legislators themselves and more or less dismissed out of hand because they are politically unworkable. It is difficult to find a more succinct statement of why the US system of representative government, as it currently stands, is an utter failure.

Tue, 02/15/2011 - 17:58 | 965047 VodkaInKrakow
VodkaInKrakow's picture

Raise taxes to Clintonian levels. After all, the mega rich where still mega-rich back then. And the VAT, WORST FUCKING TAX EVER. 23% of my income goes to paying for tax loopholes for corporations right now. Want to know what 'Capitalism' really is anymore - I'll fucking tell you.

The energy company in my neck of the woods recently changed its name after seven years. That energy company, now registered under some bullshit name, qualifies as a 'new' company for tax purposes - lower taxes. The game is rigged in Europe as surely as it is rigged in America. Do you think the average, Joe European can do that? OH FUCK NO!

Fuck all those assholes who want a VAT. You do not deduct it from your taxes at the end of the year. FUCK YOU!

This is not directed at the original poster. I saw some pieces of shit wishing for a VAT over the last several days.

Tue, 02/15/2011 - 13:41 | 963951 gwar5
gwar5's picture

Obama jacked up the Federal spending baseline 25% over the last two years. Any cut he gives is a fraud.

Anybody that calls spending "investments" is commie who thinks everybody is stupid and the State run media to cover for him on it, as ever.

Tue, 02/15/2011 - 13:44 | 963958 Smiley
Smiley's picture

I'm curious; do modern politicians take college courses specifically designed to argue against the merits or basic mathematics?

 

Tue, 02/15/2011 - 13:44 | 963963 Judge Judy Scheinlok
Judge Judy Scheinlok's picture

I BELIEVE THAT CHRIS IS MORE ON TARGET THAN TEAM 'HOPE AND CHANGE' BUT TO WHAT END?

 

I DON'T THINK I WOULD TRADE IN MY NICE HOUSE AND GIVE UP MY TV JOB FOR RURAL LIFE FARMING CHICKENS AND BREEDING RUGRATS.

 

WE NEED A BETTER SPOKESPERSON WITH PALATABLE SUGGESTIONS TO SOME OF THESE HARD TOPICS.

Tue, 02/15/2011 - 14:39 | 964202 Soup
Soup's picture

stop posting in caps you douche.

Tue, 02/15/2011 - 13:46 | 963966 jomama
jomama's picture

have to laugh to keep from crying? 

i think it's fairly obvious at this point to surmise that the global bankster cartel is hell bent on moving capital out of the US and into emerging markets. 

americans are too dependant on federal handouts to change it even if they wanted to.

Tue, 02/15/2011 - 13:47 | 963967 buzzsaw99
buzzsaw99's picture

almost time for owebama to sit down and write two letters.

Tue, 02/15/2011 - 13:47 | 963970 walküre
walküre's picture

65% revenue increase over 4 years?

Has the UST reverse merged into a company that sells the water of life?

Is Obama already hitting the campaign trails? Must be so.

Tue, 02/15/2011 - 13:49 | 963976 smlbizman
smlbizman's picture

these revenues can easily be reached if we borrow enough from bennie and the jets. and return the interest back to the treasury...i say this in jest but somehow i think this may be part of his plan..

Tue, 02/15/2011 - 14:06 | 964060 walküre
walküre's picture

Fed transfered about 80 billion in revenues from 2010.

They would have to buy a whole lot more paper to get anywhere close to reaching this revenue.

Also, the world knows full well that the Fed and UST are in a circle jerk.

WTI is down, BRENT is up. The gap is getting wider. WTI is manipulated to keep the peace in the US.

The USSR did the same but it didn't work. This will end badly for the US also.

Tue, 02/15/2011 - 14:54 | 964272 countryboy42
countryboy42's picture

Also, the world knows full well that the Fed and UST are in a circle jerk.

I was thinking more like a circular firing squad.

Tue, 02/15/2011 - 13:53 | 963989 eddiebe
eddiebe's picture

Whatever happened to 'deficits don't matter'?

 What would happen if the bankers manage the dollar down to let's say 40 over those years. That would make Obameas budget figures look alot more creditable, no?

Tue, 02/15/2011 - 13:54 | 963992 Squid Pro Row
Squid Pro Row's picture

Excellent article.  Here are my thoughts.

  • The world needs a medium for international exchange and today its the dollar.
  • The medium of exchange may change in the future, but until the alternative is accepted the dollar is it.
  • Any change to this arrangement will be fought by the US and its millitary.
  • The US can continue printing and her creditors will just have to bear it.
  • Dollars have to be held by someone - "dollar dumping" comments often omit the notion that every transaction has a seller and a buyer.
  • The status quo is unlikely to materially change in the near to medium term.
Tue, 02/15/2011 - 13:59 | 964021 EscapeKey
EscapeKey's picture

The world needs a medium for international exchange and today its the dollar.

I've done a bit of research into this, and the US Dollar is only actually the invoicing currency for about 40% of transactions in world trade. The Euro takes around the same slice.

Commodities, etc, are traded in Dollars, of course, but the overwhelming majority of intra-european trade, and trade with the Eurozone, is done in Euros.

Tue, 02/15/2011 - 14:41 | 964209 ConfusedIdiot
ConfusedIdiot's picture

Agreed, SPR. Which "bank" will guarantee return of these dollars? USA corps alone have $1.3 trillion in unencumbered cash held in "banks" . Total offshore denominated $ investments over $7 trillion. Which "banks" are safe?

Tue, 02/15/2011 - 13:54 | 963994 overmedicatedun...
overmedicatedundersexed's picture

we had a rather simple document that said what were the fed gov's responsibilities..but as time went on our rulers..er politicians decided to do more (for some it was to do "good "see Fabian socialist),,but for those of us dark hearts :it was and is to expand a base for corruption and power.

 use occam's razor as to who is correct.

 

Tue, 02/15/2011 - 13:56 | 964016 dick cheneys ghost
dick cheneys ghost's picture

bank of england warns of high inflation for next 3 yrs. 

 

http://nakedempire.wordpress.com/

Tue, 02/15/2011 - 14:00 | 964027 djsmps
djsmps's picture

I once worked at an audio company where the VP of engineering presented the company's growth plan to us.

Present: $6 million, Year 1: $20 million, Year 2: $50 million, Year 3: $125 million, Year 4: $200 million.

When asked what the plan was to achieve this, his answer was "Whatever it takes."

Tue, 02/15/2011 - 14:09 | 964068 walküre
walküre's picture

I see business plans like these all the time.

When you tell the executives that their plans are flawed, they get pissed.

Tue, 02/15/2011 - 22:00 | 965583 Diogenes
Diogenes's picture

Step one: Steal underpants. Step two: ? Step three: PROFIT!!!!

Wed, 02/16/2011 - 04:16 | 966031 StychoKiller
StychoKiller's picture

No one plans to fail, but a lot of people fail to plan!

Tue, 02/15/2011 - 14:01 | 964030 Seasmoke
Seasmoke's picture

i wouldnt believe a word or number that comes out of the Pole Smokers mouth

Tue, 02/15/2011 - 14:02 | 964038 tahoebumsmith
tahoebumsmith's picture

We will definately hit the 20 TRILLION by 2015. The debt ceiling wil be raised 9 more times and there is nothing we can do about it. The ink jets will be printing faster then ever and nobody but the FED and the big banks will be buying Treasury bonds with fiat currency. After all they are the ones that got us into this mess so they will be the ones making it worse by trying to cover up the rape and pillage they have done in the past 5 years. The dollar will be worthless and probably another currency will have already replaced it. There will have to be a big reset at some point, my guess it is coming sooner then later as we all know the debt in America can never be paid back. 

 

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