I could talk at length of the different aspects of this election and the result. But I will not. That would require a long essay. And that is for another time. So it’s just going to be a quick comment (well sort of), and follow up to my post The betrayal of journalism and the first amendment by the mainstream media in USA
It is a very sad day indeed to see a people voluntarily decide to throw themselves and their country over the cliff.
Let’s look at the economy (the figures are from the Congressional Budget Office):
In the Fiscal Year 2011, the federal government collected $2.303 trillion in tax revenue. Interest on the debt that year totaled $454.4 billion, and mandatory spending totaled $2,025 billion. In sum, mandatory spending plus debt interest totaled $2.479 trillion -. exceeding total revenue by $176.4 billion.
(Mandatory spending includes entitlements like Medicare, Social Security etc. which are REQUIRED by law to be paid. Congress in practical terms do not see this money, it is automatically deducted.)
For the Fiscal Year 2012, which just ended 37 days ago, that deficit increased 43% to $251.8 billion.
In other words, they could cut the entire Federal Government’s discretionary budget – No military, SEC, FBI, EPA, DHS, IRS, etc.- and they would still be in deficit by a quarter of a trillion dollars.
(Discretionary spending includes nearly everything we think of related to government- the US military, the Department of Homeland Security, IRS, EPA etc.)
The only thing showing any growth in the US, besides the debilitating regulatory burdens, is the national debt. It took over 200 years for the US government to accumulate its first trillion dollars in debt. It took just 286 days to accumulate the most recent trillion (to $16 trillion).
Last month alone, the first month of Fiscal Year 2013, the US government accumulated nearly $200 billion in new debt in just 31 days.
And the numbers will only continue to get worse. 10,000 people each day begin receiving mandatory entitlements. Fewer people remain behind to pay into the system. The debt keeps rising, and interest payments will continue to rise even more. In addition, the dollar is going to decline.
The result, the US government is legally bound to spend more money on mandatory entitlements and interest than it can raise in tax revenue. It will not make any difference how high the federal, state or local government raise taxes, or even if they cut everything.
Another effect of Obama economics is that the poor are getting poorer, especially the black. Under Obama the poorest Americans has suffered the single largest drop in income ever.
And the Black Americans in the same lowest income quintile have suffered almost double as the average American in the same quintile under Obama:
The drop is - 11.58% in one year (2010) and is at the lowest level ever.
That’s what I call “change”! But I would not call it “hope”.
And the number of people classified as poor are getting larger and larger.
See also my posts
And then of course we have the very disastrous Obama Care. I wrote 34 posts about it. You can read them here:
Then on top of that, we have the equally disastrous foreign policy. Where the Obama administration systematically have thrown their former allies (Eastern Europe, Britain, Israel, Egypt, Saudi Arabia etc) under the bus, and helped parties like the Muslim Brotherhood that hate everything that USA and the western world stands for, to power.
See my 19 posts on Syria etc as some examples of that disastrous foreign policy:
Here is links to all my posts
I could go on with many more examples but I think I will stop here.
But as the old saying goes (Joseph de Maistre in a letter from St Petersburg August 1811): a country has the politicians/government that they deserve. So enjoy!
In addition, this quote from a reader’s commentary in The Prager Zeitung in March 2010 (translated from Czech) sums it up quite well really:
“Multitude of Fools
The danger to America is not Barack Obama but a citizenry capable of entrusting a man like him with the Presidency. It will be far easier to limit and undo the follies of an Obama presidency than to restore the necessary common sense and good judgment to a depraved electorate willing to have such a man for their president.
The problem is much deeper and far more serious than Mr. Obama, who is a mere symptom of what ails America. Blaming the prince of the fools should not blind anyone to the vast confederacy of fools that made him their prince. The Republic can survive a Barack Obama, who is, after all, merely a fool.
It is less likely to survive a multitude of fools such as those who made him their president.“
P.S. If you are wondering about the title, see this video with music by Spike Jones. There is another long story behind the lyrics but that you have to find out yourself. D.S.
Spike Jone – yes we have no bananas
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