Friday, November 18, 2011

Barker's Newsbites: Friday, November 18, 2011


How can you not love Taylor Swift...?
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William R. Barker said...

http://blog.heritage.org/2011/11/18/morning-bell-americas-15-trillion-nightmare/?utm_source=Newsletter&utm_medium=Email&utm_source=Newsletter&utm_medium=Email&utm_campaign=Morning%2BBell

This week, the U.S. national debt clock hit a nightmarish milestone: a record $15 trillion.

[This is] a staggering figure that has risen dramatically in the last decade and is more than $4 trillion higher than when President Barack Obama took office less than three years ago.

* AND REMEMBER, FOLKS, NANCY PELOSI AND HARRY REID WERE RUNNING CONGRESS ALL THROUGH 2007 AND 2008 - THEIR SPENDING GETS "CREDITED" TO BUSH. WHEN ONE TAKES CONGRESSIONAL CONTROL INTO ACCOUNT, THE DEMS ARE FAR, FAR, FAR MORE RESPONSIBLE FOR THIS DEBT THAN EVEN THOSE LOUSY STINKING RINOs WERE FROM 2001 THROUGH 2006.

Washington does not appear poised to take action to rectify the problem, and those with their hands on the wheel are ignoring the root of the problem: spending.

* THIS PAST SPRING'S BUDGET "COMPROMISE" (AS I TOLD YOU AT THE TIME) WAS A DISASTER. BOEHNER AND MCCONNELL AND THOSE "REPUBLICANS" WHO FOLLOWED THEIR LEAD BETRAYED US!

House Budget Committee chairman Paul Ryan (R-WI) on Wednesday said of the news, “Today marks an infamous day in American history. It is the day that the national debt has surpassed the $15 trillion mark. This debt is hurting not only our economy today, but will result in our children and our grandchildren experiencing a diminished future.”

* UNLESS I'M MISTAKEN, RYAN VOTED WITH BOEHNER. (*SHRUG*) WORDS, FOLKS... WORDS...

Federal spending, at about 24% today, is significantly over the average of 20% of GDP, but in a decade it will top 26%.

* ACTUALLY... I BELIEVE THE POST WW-2 AVERAGE UP TILL 2001 WAS CLOSER TO 18%. (WHEN YOU'RE TALKING TRILLIONS... 2% MATTERS.)

So what’s Washington doing about it? Fighting over how high to raise taxes instead of getting to the root of the problem.

* VIOLENCE IS THE ONLY ANSWER I CAN COME UP WITH. ANYONE WITH A BETTER ONE... CHIME IN.

By Thanksgiving, the 12 members of the congressional “super committee” are required to reach agreement on a plan to achieve $1.2 trillion in deficit-reducing measures - a mere drop in the bucket when measured against America’s spending crisis.

Yet even that task appears out of their grasp.

* FUNNY HOW HERITAGE FAILS TO NOTE THAT EVEN THIS "DROP IN THE BUCKET" IS LESS THAN MEETS THE EYE; WE'RE TALKING ASSUMPTIONS OVER A 10 YEAR PERIOD!

Heritage’s Alison Fraser explains: The facts are simple: Entitlements are going to generate European style debt levels unless they are reformed. Paying for it without bringing down their spending would require constant, crushing tax hikes on all taxpayers - not just the top 1%.

November 18, 2011 at 8:00 PM

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