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Obama, the Deficit, and Monopoly Money
Posted By admin On December 21, 2009 @ 3:14 pm In Featured Stories | Comments Disabled
December 21, 2009
Obama — or his teleprompter writers — think you’re an idiot. Obama can get on national television and claim without flinching (as many people do when they lie) that he “inherited” an astronomical debt from the last guy who increased the national debt more than the guy before him.
Obama more than tripled the national deficit in less than one year. His 22 percent spending increase projected for 2009 represents the largest government expansion since the 1952 height of the Korean War. Obama and Congress will spend $30,958 per household, tax $17,576 per household, and borrow $13,392 per household this year. The 2009 budget deficit will be larger than all budget deficits from 2002 through 2007 combined and more than 43 cents of every dollar Washington spends in 2009 will have been borrowed. The White House projects $10.6 trillion in new deficits between 2009 and 2019—nearly $80,000 per household in new borrowing. (See Obama’s 09 deficit exceeds all eight years of Bush red ink.)
None of these figures include the spending Obamacare will inflict upon the nation.
[efoods]“In the long run we can’t continue to spend as if deficits don’t have consequences, as if waste doesn’t matter, as if the hard earned tax dollars of the American people can be treated like monopoly money, that’s what we’ve seen time and time again, Washington has become more concerned about the next election than the next generation,” said Obama.
Meanwhile, over in the Senate, Harry Reid just added a little more weight to the deficit by spending $1.2 billion to buy off democrats for the Obamacare vote last night.
In fact, the money Obama and Congress borrow is monopoly money. The Federal Reserve — a cartel of private bankers, not a government agency — creates money out of thin air and then loans this at interest to our “representatives” in Congress. The banksters are legally allowed to lend out up to 50 times of what they have on deposit.
Monopoly money has a double meaning here. The Federal Reserve and its banker counterfeiters have a monopoly on the creation of money out of thin air, even though the Constitution states in Article I: “Congress shall have the Power to Coin Money and Regulate the Value Thereof.”
Obama thinks you’re an idiot. He can get on television and tell you he is fiscally responsible and the burgeoning deficit is not his fault and scant few of the talking heads take him to task for this obvious lie. The corporate media is a modern version of Plato’s allegory of the cave.
Barack Obama is merely reading from the teleprompter and performing duties assigned by the bankers. He is playing a shell game while his bosses and taskmasters continue to rob us blind.
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