What a difference a year can make. Last January, newly inaugurated President Obama stood outside the U.S. Capitol and pledged to “begin again the work of remaking America.”
In a 70-minute speech dominated by the struggling economy and merely sprinkled with foreign policy, Obama tried to hide his party’s usual big-government prescriptions to the nation’s problems. He pitched the idea of a new bipartisan panel to investigate ways to slow down the annual deficit, which, forecasted at nearly $1.4 trillion this year, has rocketed to its highest levels since World War II. But the Senate, in a bipartisan vote the day before Obama’s speech, had already voted down such a proposal—meaning Obama would likely have to go at this alone.
In what amounts to a nickel-and-dime gesture in today’s super-sized federal government, Obama also vowed to save $4 million next year by freezing the salaries of senior White...
I wish more people in this country would think the way NY Mike thinks.
Obama's election in 2008 was the ultimate triumph of syle over substance.
I recall being reassured by someone on this blog back in 2008 that (in all likelyhood) Americans would never be so stupid as to elect anyone as inexperienced as Obama.
Well, I guess we ARE that stupid...at least in the short-run.
Even Sara Palin had more experience than Obama, with both McCain and Biden having even more (except for executive branch experience--which ONLY Palin had!).
Only real bright spot I see is that Obama is more ideologically rigid than Clinton, and thus less likely or able to pivot as much on issues in order to save his presidency.
its even worse than you think and even worse than the uk
Recessions typically reduce government tax collections ( USA ) Individual income taxes declined 20%, while corporate taxes declined 50%. At 15% of GDP, the 2009 collections were the lowest level of the past 50 years
Hey mr presifdent i know we arent getting the tax revenue s but this is your presidency we are talking about you NEED tpo spend - just print the money simple!
great idea bernanke go to it
annual deficit to us gdp is 9 to 11 % depends on who you listen to
total govt debt is 77% of GDP and climpbing by 10% a year !!!!! theres no collateral !!!!!!! The dollar is underwritten by NOTHING ! whoops !
caution and thrift mught count for soemthing but the best USA can do is to say that we probably maybe wont increase annual derficit - whoa what about cutting back to hwat can be afforded ?
"He pitched the idea of a new bipartisan panel to investigate ways to slow down the annual deficit, which, forecasted at nearly $1.4 trillion this year,.."
"... Obama also vowed to save $4 million next year by freezing the salaries of senior White ..."
Someone correct my math if it's wrong, but isn't that like saving $4 out of $1,400,000? What will we do with the savings? But then the president thinks there are 57 States. Counting may not be a strong point.
PS the heading is wrong. There is no new agenda, only a change of tactics.
that freeze on spending programs means only no more inreases !! he he ! USA is still going to rack up more debt all the time printing money and undermining the dollar just like we are doing in the UK
Gordon Brown was crowing in parliament this week saying he had avoided a full scale deppresion
Ha ha GB is a moron and so is Obama - the depresion already started in 2007
they are telling people recovery has started - liars and fools they are just staving of the inevitable they have been papering over the cracks stealing our money in huge quantities to give to the gamblers who lost people om the street know the truth, paycuts layoffs inflation and it hasnt even got into second gear yet !!
In the UK after the may election the govt will have to bring in 20 to 30% spending cuts - oh but the 'recesion ' is ending right GB ?
In 2008 i said its the end of the dollar as international currency
business people i know are only using dollars when they have to
there is no 'plot' to stop using the dollar for oil and projects its just business.
Owners of capital are going to blow the whistle on the USA and UK THIS YEAR by 2011 the Fiat currency crisis will have come and gone
Buy gold and silver dont keep it in paper its going to be worthless
Mike wrote: "What a difference a year can make. Last January, newly inaugurated President Obama stood outside the U.S. Capitol and pledged to “begin again the work of remaking America.”" How's that remake going? (not that remaking America is the president's job) "He pitched the idea of a new bipartisan panel to investigate ways to slow down the annual deficit, which, forecasted at nearly $1.4 trillion this year, has rocketed to its highest levels since World War II." “It begins with our economy,” Obama said. “That is why jobs must be our number one focus in 2010.” "The president also proposed a three-year freeze on domestic spending programs." "Lastly, Obama took on all of Washington for its partisan pettiness: “What frustrates the American people is a Washington where every day is Election Day. Rather than fight the same tired battles that have dominated Washington for decades, it’s time for something new. Let’s try common sense.” Is there such a thing as pathological comedy? You know, telling funny stories which are lie-based?
Mike, Your summary question would be VERY FUNNY if it weren't true! Sadly, the USA is quickly turning into an OBAMA-NATION! And what is even worse, the people don't care!
"What a difference a year can make. Last January, newly inaugurated President Obama stood outside the U.S. Capitol and pledged to “begin again the work of remaking America.”"
How's that remake going? (not that remaking America is the president's job)
"He pitched the idea of a new bipartisan panel to investigate ways to slow down the annual deficit, which, forecasted at nearly $1.4 trillion this year, has rocketed to its highest levels since World War II."
“It begins with our economy,” Obama said. “That is why jobs must be our number one focus in 2010.”
"The president also proposed a three-year freeze on domestic spending programs."
"Lastly, Obama took on all of Washington for its partisan pettiness: “What frustrates the American people is a Washington where every day is Election Day. Rather than fight the same tired battles that have dominated Washington for decades, it’s time for something new. Let’s try common sense.”
Is there such a thing as pathological comedy? You know, telling funny stories which are lie-based?
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