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The Change Hope Brought

February 15, 2011 by B. Daniel Blatt

Presidential candidate Barack Obama:

But there is no doubt that we’ve been living beyond our means and we’re going to have to make some adjustments.

Now, what I’ve done throughout this campaign is to propose a net spending cut.

Emphasis added.

President Barack Obama:

SO IS THIS THE HOPE, OR THE CHANGE? White House Expects Deficit to Spike to $1.65 Trillion.

Filed Under: Big Government Follies, Obama Hopenchange

Comments

  1. Patrick C. says

    February 15, 2011 at 5:06 am - February 15, 2011

    And did you notice that the ‘spending freeze’ is at the expanded 40 something percent level he created, not the low 30 something percent from the past admins? What a joke.

  2. V the K says

    February 15, 2011 at 5:35 am - February 15, 2011

    Since Dear Reader has taken to comparing himself to Reagan, note that his FY2012 budget deficit is, in constant dollars, larger than Reagan’s entire Federal Budget from FY1986.

    Note also that, in Obama’s FY2009 Budget, he predicted that the deficit would be cut to $581 Billion in FY2012. The actual deficit will be more than three times that amount unless Republicans cowboy up and cut spending.

    None of which will matter to Dear Reader’s sycophantic, brain dead, head-up-their-butt supporters.

  3. V the K says

    February 15, 2011 at 6:29 am - February 15, 2011

    The spin on the left will be that extending the Bush tax cuts caused the record deficit. Clearly, this is a lie. The Democrats told us that extending the Bush tax rates would “cost the Government” $700 Billion over ten years. Clearly, $700B is less than $1.6 Trillion, so ten years of Bush tax cuts work out to less than half of one year of Obama deficit spending.

    Tax cuts aren’t the problem. Spending is the problem.

  4. V the K says

    February 15, 2011 at 8:42 am - February 15, 2011

    Wow! It’s actually so bad, even Andrew Sullivan seems to have second thoughts about the object of his mancrush.

    “[T]his president is too weak, too cautious, too beholden to politics over policy to lead. In this budget, in his refusal to do anything concrete to tackle the looming entitlement debt, in his failure to address the generational injustice, in his blithe indifference to the increasing danger of default, he has betrayed those of us who took him to be a serious president prepared to put the good of the country before his short term political interests… To all those under 30 who worked so hard to get this man elected, know this: he just screwed you over. He thinks you’re fools. Either the US will go into default because of Obama’s cowardice, or you will be paying far far more for far far less because this president has no courage when it counts.”

    If even the Annie Wilkes of the blogosphere is questioning the investment value of his Barack Obama Commemorative plate collection, some might see this as a problem. (I am sure a wink and some flowers will win Annie Sullivan back, but what about the rest of the country?)

    Entitlement spending is bankrupting our country, and the president… as all of us conservatives warned you he would… is voting “present.”

  5. V the K says

    February 15, 2011 at 8:43 am - February 15, 2011

    Fudged the link on that last post: Here it goes.

  6. Heliotrope says

    February 15, 2011 at 9:28 am - February 15, 2011

    It would seem to me that a fundamentally transformative president would fire up the hopedozer and change full steam ahead with greatly increased government spending which would crush this faltering economy and cause a thousand flowers bloom in every nook and cranny of unemployment. Government jobs for all, full satisfaction of every person’s needs as redistributed from those who over-accumulate. Free drugs for the addicted, full care for their neglected families and a total end to crime, since “ask and it shall be yours” will create a harmonious culture of cooperation where irresponsibility is managed by the village as a full recognition that we must think and act for all of our brothers who are merely victims.

    In fact, it is increasingly clear that the Politburo should be made permanent and that the ObampTer should me made President for Life. It is not about the money, it is about the management of the people, no matter what it costs. We are presently at the herding of cats stage, due to an excess of individual choice. But, with faith and determination, soon the cats will be sheep who can be herded with alacrity and periodically shorn for the good of the state.

  7. Tim says

    February 15, 2011 at 9:41 am - February 15, 2011

    Actually I’m more interested in the news from Cpac about 2012 since the budget has yet to go through the meat grinder and expending a lot of stress over something that might happen is rather pointless compared to something that has happened.
    Now what has anyone heard about the vote to kick GoProud out of Cpac for 2012? to me that sets back the “gay agenda” much more than imaginary budget numbers.

  8. ThatGayConservative says

    February 15, 2011 at 10:13 am - February 15, 2011

    Nope, but Paul was booted from YAF.

  9. B. Daniel Blatt says

    February 15, 2011 at 12:58 pm - February 15, 2011

    Patrick C, you seem to be anticipating a post kicking around in my head!

  10. ILoveCapitalism says

    February 15, 2011 at 2:18 pm - February 15, 2011

    White House Expects Deficit to Spike to $1.65 Trillion

    It’s going to spike a lot higher, before it’s over.

  11. North Dallas Thirty says

    February 15, 2011 at 4:37 pm - February 15, 2011

    Now what has anyone heard about the vote to kick GoProud out of Cpac for 2012? to me that sets back the “gay agenda” much more than imaginary budget numbers.

    Only if the “gay agenda” is to demonstrate that gays and lesbians are too emotionally and intellectually inferior to be held responsible for their behavior.

    Which actually is the point of the Obama Party and its demand for laws openly establishing that gays and lesbians are inferior and cannot be held to the same performance, hiring, or other standards as heterosexual employees.

    Then again, since being gay or lesbian is the only thing you seem to care about, I suppose it isn’t any surprise that that is far more important to you than a budget that, you know, actually affects your life.

  12. Tim says

    February 15, 2011 at 4:40 pm - February 15, 2011

    @North Dallas Thirty do you put on a seer sucker suit before commenting? I’m just curious if you get into preacher mode before you start blogging or if your doing it in the buff.

    That about sums up how much I care what you think ND30.

  13. Tim says

    February 15, 2011 at 5:27 pm - February 15, 2011

    My concern is that the social cons are able to eliminate gays from the republican conversation and thus remove any need to rationally treat with the social conservatives. While I believe it would be bad for the republican party to do that, I think it would be worse for gays if that happened.

  14. North Dallas Thirty says

    February 15, 2011 at 5:44 pm - February 15, 2011

    Oh, we see.

    You don’t really care about businesses, or jobs, or high taxes, or the state of the economy, or wasteful government spending.

    All you really care about is making sure to really stick it to and ignore the social conservatives. The economy could collapse, jobs could go pfft, and the government could recklessly borrow and spend on every wasteful project known to man as long as you can piss and whine about social conservatives and take out your revenge fantasies.

    When you grow up, Timmy, maybe you and your fellow liberal gays and lesbians can be included in adult conversations. But frankly, we have far more problems than your need to feel oppressed and your need to practice your antireligious bigotry. Go to the Obama Party, where the standards are lower for gays and lesbians and no one will ever question your insistence that “homophobia”, not your bad decisions, are responsible for any of the problems that you face.

  15. Gene in Pennsylvania says

    February 15, 2011 at 7:12 pm - February 15, 2011

    Good golly, even Andrew Sullivan has realized how weak and soft Obama is. He’s no leader, he’s a whimp. He has the onions to submit a budget even the left knows isn’t serious. Typical community organizer move. What a shame to waste 4 years with this dolt.

  16. Sebastian Shaw says

    February 15, 2011 at 7:39 pm - February 15, 2011

    Hope has become a shriveled-up husk. Not many people are buying Obama’s hope & change anymore with job stagnation & 16% unemployment.

  17. ILoveCapitalism says

    February 15, 2011 at 8:43 pm - February 15, 2011

    Hey, don’t Obama’s $1.65 trillion deficits show he has a good heart?

    (Sarcasm… grounded in actual leftoid commentary. For example, one recently tried to tell me that Obama’s ruinous spending is needed to protect our “human capital”, the silly implication being that that person’s – and Obama’s – big-spending sensibilities would show a humanity or intelligence that is somehow superior.)

  18. V the K says

    February 15, 2011 at 8:57 pm - February 15, 2011

    I think the only way there will be a reckoning is if our foreign creditors cut us off.

    I keep hearing the MFM claim that there are cuts in the budget. There are no meaningful cuts in the budget. All the projected deficit reduction is way off in the future. Are the Democrats going to demagogue budget cuts or entitlement reform any less in 2016 than they are currently in 2011?

  19. ILoveCapitalism says

    February 15, 2011 at 9:09 pm - February 15, 2011

    I think the only way there will be a reckoning is if our foreign creditors cut us off.

    And, as painful as that will be, it will be better – for us – if they do it sooner. And, they just might.

  20. SoCalRobert says

    February 15, 2011 at 9:36 pm - February 15, 2011

    As usual, the politicians’ idea of a cut is like me saying that I’ve decided not to buy a Lexus this year so now I’m $50K ahead.

    Ultimately, though, the House is where spending bills originate. Obama’s “budget” is as much a wish list as anything. Here’s where the Congress needs to stand up and budget from a zero baseline and be willing to tell us the truth about where we are… to force the voters to make a choice.

    As Reagan said once, now is the time for choosing. Either we make the changes needed to survive as a great country (assuming it’s not too late) OR we try our best to figure out how to decline with as little mess as possible. I don’t think there’s a third way.

  21. SoCalRobert says

    February 15, 2011 at 9:41 pm - February 15, 2011

    #20: ILC – there’s no way our creditors will cut us off. So far, debt holders (except for GM bond holders) have been made whole regardless of cost (see TARP, et seq.).

  22. DaveO says

    February 15, 2011 at 10:06 pm - February 15, 2011

    I don’t believe President Obama took any part in writing this budget. Looking at the defense news, each of our military services scaled down construction and acquisition, with about US$ 71bn for overseas operations (that is, getting out of Iraq and Afghanistan).

    This is the fourth straight budget (since FY2007)(FY2008 not being done because Mdm Speaker did not want to give the GOP any fuel during the elections) from the same un-serious folks.

    Regardless, the GOP folks will place nice-nice and get the President off the hook.

  23. ILoveCapitalism says

    February 15, 2011 at 10:30 pm - February 15, 2011

    SCR – I disagree. I’m not saying the Chinese and Arabs will suddenly dump their entire stash of Treasuries. But they know Bernanke’s printing press is diluting the value of their Treasuries, i.e., Bernanke has effectively put them on notice that they will be paid back in depreciated dollars. Over time, they will want to buy fewer Treasuries (and already are), and more of the alternatives: goods, other currencies, gold, international stocks, and resource producers to feed the Chinese economy.

    Also, to approach it another way, China’s people are rioting because of inflation… which China has because they are printing money to keep their “dollar peg” in the face of their dollar trade surplus and Bernanke’s printing press, which drives up input / commodity costs in China. I’m not saying China will revalue the yuan overnight. But, revalue it they must and will.

    Net result: they “cut us off”. Over time, China loans less of its surplus capital to the U.S.; spends more of it on themselves. U.S. faces higher interest rates AND higher prices for imports and for commodities in general (even the home-grown ones like food, which the U.S. will have to export more of, to pay for imports). China’s living standard rises, U.S. living standard falls.

    And when U.S. interest rates do go up: Obama’s already sky-high budget deficit shoots through the roof, creating yet more pressure for interest rates and/or money printing in a vicious cycle. I expect it to become a full-blown financial crisis, worse than 2008.

  24. V the K says

    February 15, 2011 at 11:06 pm - February 15, 2011

    And when U.S. interest rates do go up: Obama’s already sky-high budget deficit shoots through the roof, creating yet more pressure for interest rates and/or money printing in a vicious cycle. I expect it to become a full-blown financial crisis, worse than 2008.

    Yeah, I’ve decided to double my order of freeze dried food this year, and buy another gun.

  25. Tim says

    February 16, 2011 at 1:05 am - February 16, 2011

    the beauty of our treasury bonds in china’s hands is that hurting our economy hurt’s their investment. I worry more about the escalating debt burden than china. They bought to much of a bad product and now have over half their savings in junk bonds. No i worry more about our politicians on both sides not creating a realistic energy plan, moderating the entitlement programs, and not reducing the military budget

  26. Peter Hughes says

    February 17, 2011 at 10:53 am - February 17, 2011

    I like the idea of one of our Texas representatives in the House: cut off funding for MuBarack’s teleprompter.

    Let’s see if he’s got the smarts to go it alone.

    Regards,
    Peter H.

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