On one hand Krugman has a point – what does fear mongering really do to address an issue AND does it really just make a mountain out of a mole hill. But I love how he also didn’t have this attitude toward fear mongering on the 2008 campaign trail when Democrats, Captain Kool-aid in particular, were fear mongering about how we were headed toward the Great Depression-style recession. OR when Dems were shouting about how we had to pass the “stimulus” bill because if we didn’t take more than a week to review the darn bill we’d see unemployment go up past 8%…(as it now is at 10% – ummm OOPS!).

I agree with Chris Edwards at National Review that “the best lesson is that an administration’s promised spending beyond the first year is meaningless.” (via Trying To Grok)

To paraphrase his brilliant article, the federal govt. spent nearly $1 trillion more than Bush projected for FY2009 AND that’s after you remove the stimulus out of the equation. Plus the two wars only account for 1/5 of that over-spending – what was the remaining 4/5 spent on that was justified??? Nine years ago, spending for FY2011 was projected at $2.7 trillion. Obama and Orszag’s plan now calls for $3.8 trillion in FY2011, a 41% projection increase.

Plus I’m more concerned about govt spending-to-GDP ratio which is encroaching up to 50%. When the govt. takes more from the economy than what the economy produces that is a major cause of economic concern – this is what Mankiw (Krugman’s nemesis) argues. Also economic studies put holes in economic theories supporting increase govt. spending. For instance, they show in application every $1 spent in govt. equates $1.40 in GDP (Ramey study), while every $1 in a tax cut or break equates $3.00 in GDP (Romer study). Now that doesn’t mean make our taxes zero, but under this real-world logic how is record-level spending justified. To me, it’s not.

Our govt. cannot continue on this path. It’s not time to burn our money like firewood but it’s certainly time to pull the plug on the federal govt’s imaginary lines of credit.

Remember when our new Liberal Dictatorship in DC went apesh*t over AIG throwing a $400k conference that ultimately would have helped them develop business (new business that would help them bring in revenue and payback the taxpayer-funded loan they were granted). Yeah, well, apparently spending that kind of money in the private sector is not okay and calls for pitchfork mobs in the media and then unconstitutional retroactive tax legislation. Geeeeeeeet ‘em Richies!!!!

But then fast forward a few months down the line and all of the sudden it’s okay for a literally failing and scheduled to be BANKRUPT (that is no funds) government organization to spend twice that – $700,000 to be exact – on a conference that includes airfare, hotel “entertainment”, motivational speakers, food, and WAIT.FOR.IT – dancers. Because nothing will make your SS account yield more profit than lazy government workers shakin’ what their mama gave ‘em.

Pot calling the kettle black, say whaaaaaaaat???

It turns out that Social Security, which I deem the federal government’s official Ponzi scheme that keeps the elderly & lower economic classes poor, can get away with spending double the amount of taxpayer money that they then publicly chide AIG for doing the same with. (via Instapundit)

I understand that AIG’s event was from the perspective of educating its sales force to then develop business for more high-end clients and that as such could have been more appropriate to have been hosted at the company’s headquarters. But so was this conference for the Social Security Administration:

The SSA provided ABC15 with a list of courses provided at the conference, which included “Techniques to Empower You,” “Mentoring the Generations,” and “Emotional Intelligence.”  But the information provided by the SSA did not mention an after-hours casino trip, family members staying at the hotel, or the 20-minute dance party ABC15 observed.

So if the conferences were technically the same in format, structure and participants how come it’s okay for the SSA but not AIG? Here’s what Obama said during the AIG occurrence:

“The Treasury should demand that money back and those executives should be fired.”

Gee, what’s the response now? I totally agree for once with the Unicorn Princess - Social Security should be eliminated and the tax payers should demand their money back.

So now apparently it’s come to this.  Need more federal money to bail out your hanging political deals like OBAMACORN? Need to ship more money to foreclosed home owners who shouldn’t have been granted out-of-their-range loans in the first place? Or just want to git those THUGRIZZLE spins for the new caddy?  Well, since the US is basically out of money and living on the prayer China doesn’t come calling to collect, it can now all be yours at the bargain basement price of…

Your Eternal SOOOOOOOOOOOOOOUL.

(via MosNews.com)

Riga-based firm, named Kontora, does not require credit history record or proof of employment. It grants loans of 50 to 500 Latvian lats ($100 to $1,000) to any adult after he or she signs the a very short agreement.

According to the agreement, the only security required of the borrower is their immortal soul, which they are asked to confirm as their previously unmortgaged property.

Even though this story is probably a joke, it’s not that far off when you really think about how we are mortgaging the future earnings of our children – most of who are not even born yet. The crying babies after the doctor spanks them in the delivery room will now be for the $167k they innately owe to Uncle Sam.

Just a quick rebuttal to any liberal who questions the criticism of the porkulus – can you tell me ONE person who has established wealth and not debt by charging everything on a credit card or just borrowing money???? Just one – please JUST ONE!

On a side note, here’s a video from Conservatives4Palin. Yeah, it SURE was great of our country to miss that “heartbeat away from the presidency” pick in Palin. (Eyes Rooooooollin’)

Eroding confidence in President Barack Obama’s handling of the economy and ability to control spending have caused his approval ratings to wilt to their lowest levels since taking office, according to a spate of recent polls, a sign of political weakness that comes just as he most needs leverage on Capitol Hill.

Seems like soon there will be a new Marie Antoinette at the White House court, non? Approval #s of the almightly Unicorn Princess are falling fast. Honestly, I’m surprised it took this long, but then you factor in we’ve got the Kool-aid induced dissuade-at-all-costs MSM liberal media at play. There is no way they’re letting the guy they dragged across the finish line with infamous race-baiting tactics be brought down without stubbornness. It was only a matter of time – because when the public catches onto the slobbering love affair, like any typical celebritymania case it’s then the cue of the media to start turning to show cracks in the foundation. Thus setting up for a proper tumbling off the wall like Humpty Dumpty.

It still amazes me anytime one of my liberal friends start harping around about the media or people being too critical on Obama. Umm, this is the same group that qualified President Bush as not being up to the job based on his choice (and yet accurate in some academic circles) of annunciation on certain words. So pardon me if while those liberals are whining about the spotlight on their boy’s faults I play the world’s smallest violin with my two fingers. Boo-hoo.

Oh, and icing on the cake – 44% vs. 43% now in favor of holding off on Obamacare instead of letting the government take control.

Wells Fargo received TARP money and was scolded by the media, Congress and President Unicorn Princess for conducting lavish parties when they are in need of financial assistance. Even AIG was scolded for a company party.  I see their point – you’re leaning on the govt. for funds so why do you continue to be throwing money at luxuries that we don’t see as a high priority.

But it seems that Obama came out to good Sin City to help support his BFF Harry Reid in a fundraiser. (via HotAir) Uh, didn’t Obama say the government had NO money??? If we’re in financial trouble then why all the lavish parties in Vegas?

And don’t give me the bull about it being about politics or growing the economy by conducting business. Why can’t those other companies grow the economy too by hosting events that ultimately are done for business development? Why can’t Reid take a cue from Rep. Aaron Schock (R-IL) and learn to host events at places that are not CAESAR’s PALACE! Schock is coming to Chicago for a fundraiser and the event is at Rockit Bar & Grill, not the Signature Room.

Ed Morrisey illustrates this perfectly:

The President, who had previously scolded TARP recipients for using Vegas for company meetings as a waste of taxpayer money, flew into Vegas on Air Force One with all of his Secret Service detail in order to rub elbows with Hollywood and raise a bunch of money for Harry Reid.  And what kind of tone does that set for Americans who are canceling vacations and pinching pennies?

Well, step right up! Step right up, folks! Feast your eyes on the salaries of public employees in San Francisco – a major player to the heart of California’s financial woes. (via Michelle Malkin)

The full list is here.

So the next time you hear your liberal friends talking about how we need to tax more in order to pay for more government services. You just throw this link up there and argue that government should learn to cut back first before we give them more money that WE EARN!

And to think San Fran’s Head Budget Officer in Charge, Mayor Gavin Newsom, wants to run the state. Shudders.

I love how Social Security and Medicad together outspend the costs we’ve spent on protecting our military in the two wars. But yeah, liberals – you’re right. Spending money to protect our own citizens is way more open to criticism than the money our government flushes down the toilet in the Ponzi Scheme knows as Social Security. I can just picture Village Idiot Extraordinaire Joy Behar now – “We Won! We Won!” Nitwits.

LOL.LOL.LOL.LOL…(picture me rolling around on the floor like a drunken fool at a wedding reception after one too many “refreshments” LMAO)

Why all the hyena laughing hysteria? Well because that was the biggest crock of bull that the media and Obamabots latched on too during the first 100 days. I literally had someone the other day tell me that pork barrel spending has REDUCED since the Bush administration!?!?!?!?!? No, I’m not joking.

People in this country are in desperate need of perspective. I wrote about this earlier in the year when the porkulus was introduced.

Obama asked for the job on the notion that he would clean up Washington and provide a “pay-as-we-go” style management to the budget. He acknowledged there was an economic crisis and growing national debt – and used these fear politics to make the smoke & mirrors case that he could fix the deficit and restore the economy. This was his rebuttal during the debates when McCain warned us about Obama’s predictable behavior of supporting massive spending and that this practice would only continue once the Unicorn Princess took the office. Obama said that wouldn’t be the case in his administration even though there was evidence he had proposed $1 billion in earmarks during his very short federal Senate tenure.

But yet here we are nearly $5 trillion in proposed spending 100 days later and people have yet to catch on to the reality of the situation.

Perhaps a little visual demonstration will help. ( via Trying To Grok)

I’ve always thought it was interesting that people who complain and spew lies about supply-side economics are actually for supply-side when you look at the details of each policy, but just that it trickles down through the government (being depleted of funds along the way). I’d love to see some statistics for how much a $1 grows if it is allowed to stay in the economy vs. how much a $1 weakens once it cycles through government and then is put back in the economy.

I’m talking about our lovely Driving-the-US-into-Socialism-at-100-MPH Stimulus bill that kicked off the fun on Mr. Toad’s Wild Ride, also known as the Obama Presidency.

So in case you never read the fine print, or the bill for that matter, (MRS. Arlen Specter I’m talking to you!) here’s the real deal on all those “shovel-ready projects.” You know, the ones that we were told would turn this economy around because it would create 2, er, 3, errrr, “4 million jobs.” I put that in quotes because it’s what you would call a bunch of baloney, to put it nicely.

So anymybaloneyhasafirstnameit’sO-B-A-M-A, our President’s main point for defending the porkulus was that creating infrastructure projects would essentially lend itself to more job creation and with a flick of his FAAAAAAAAAAAAABULOUS wand, *POOF!* the economy is awwww better.

Um, hold up! Wait a minute! Don’t go there, cause I ain’t with it!

Now let’s travel back to a place I love to call “reality” where we actually look into what the definition of “shovel-ready” means. Turns out that with most of these projects, local funding is required PRIOR to even being able to apply to receive stimulus funds. That’s right folks – local funding is required! Hey, Barry Barney – How do we get local funding??? Why, kids through local taxes, of course! Yuck-Yuck-Yuck!!! Oooooh laughter all around.

Take for instance this document from the Texas Department of Transportation.

Effects on Texas Transportation

The portion of funding for Texas transportation includes:

• The estimated creation of more than 23,000 direct jobs and 69,000 total jobs.
• Approximately $2.6 billion dedicated to transportation projects around the state.
• Funding for highway, bridge, transit, aviation and rail projects.

This is a reimbursement program. Texas will not receive the dollars up front. (emphasis mine)

This is the sad fact that nobody in government or the media wants to talk about but is something that affects every single person in every area that is accepting stimulus funds. In order for most shovel-ready projects to get the stimulus money, they must have local taxes in place that will or are already bringing in funds for the “stimulus-funded” project.

This is happening all over in my home state. I’m not pulling this out of left field as a way to get the Democrats. People who are trying to apply for stimulus money know darn well and I’ve even seen correspondence with my own eyes where, in fact, it shows that Congress will determine if “the project worthy, will they deem it necessary, can we show just cause, etc. but the bottom line is that if we do not have local funding, we CANNOT apply for the funding that MAY BE available.”

Kind of ridiculous. So we’ll get double the tax, double the fun. I don’t know about you but I can’t WAIT to get my local taxes increased as well as my federal taxes (shudders!). PLUS, this ultimately goes against Obama’s pledge of no new taxes on 95% of Americans. Taxes at the local level aren’t categorized between income levels, so you’re more likely to see increases disguised as property and sale taxes – even for those under the $250k mark. That’s two times a broken promise now – goes to show you if it sounds too good to be true, a liberal must be saying it!

I guess this will make us all SUPA-DUPA Patriots in Joe Biden’s eyes….Sweet! My life is like FINALLY complete.

The other part is that one must consider is the liberal myth that shovel-ready projects accepting stimulus money will mean that the stimulus has created more jobs. If the project was shovel ready that means the majority of employment has already been decided and thus no new jobs are actually created. But that doesn’t surprise me, because it’s like most things with government – they’ll only present the myth of job creation without showing people that the jobs already existed without government’s intervention, oh I mean stealing of resources from the private sector. To those that have never experienced getting credit stolen from them, that’s what I like to call smoke and mirrors.