Obama Speak

Mr. Obama once again tried to pull his chestnuts out of the fire, and pull the wool over everyone’s eyes, in his speech to stabilize America’s mounting debt and fiscal crisis (April, 13, 2011).

Mr. Obama, now famous for pussyfooting around on the issue, wants US to believe that he has a credible plan to deal with America’s debt and spending problems. Yet, all he offers is pie in the sky and pipe dreams.

Mr. Obama has come down from the mountain and told us that the answer to America’s debt is to raise taxes – on the rich. In America, according to Mr. Obama, you are rich if a husband and wife earn more than $250,000 a year. Mr. Obama believes that ‘raising taxes is cutting spending in the tax code.’ Say what?

Mr. Obama didn’t say that his policies of redistribution of the American taxpayers wealth to the welfare state on the one hand, and banks, hedge funds, public sector unions on the other, are responsible for the trillions in debt that are forecast to drown US in red ink. Nor did Mr. Obama say that the policies of quantitative easing, aka bailouts, to again reward the world’s Bankers and Hedge Fund Managers, by the Federal Reserve Chairman, Mr. Bernanke, who he appointed, further massacred America’s wealth.

All things considered, we can only hope that Mr. Obama’s plan, like most of what he says, comes with an early expiration date.