Wednesday, January 27, 2010

Knock off this economic nonsense!

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An Associated Press news article reported yesterday that the Congressional Budget Office (CBO) predicts a sluggish economic recovery and continued high deficits for our country. According to a recent CBO report, the economy will rebound slowly with unemployment averaging 10.1 percent for 2010 and 9.5 percent for 2011.

Proving that there’s nothing new under the sun, President Obama’s solution to this economic plight is to spend beyond the means of our national income to the tune of – according to the latest estimate – $1.35 trillion for the current budget year.

How much is that? How about this visual:

$1,350,000,000,000.00 of spending beyond expected tax revenues.

What does the chief executive blogger of Pierini Fitness think about this? My thoughts are no different than what was expressed here when I said that this approach is flawed and that it just doesn't pass the smell test.

Indefinite spending beyond our means is a recipe for economic disaster. That’s true for you, me, a business, nonprofit organization and our government. It’s time for our elected leaders to take a remedial course in old school economics 101.

My message is loud and clear - it’s time to knock off this economic nonsense!

Pax Domini sit semper vobiscum

4 comments:

fishhead said...

I wish they could hear your message.
For some reason, I don't think they're listening, though.

Tom said...

I hate to correct a CPA on his numbers, but I think you need 3 more zeros on that figure.

- Tom

Charles Long said...

They aren't listening. They never listen. And Obama is economically illiterate.

pierini said...

Just testing everyone to see that they are awake. You were and the others were sleeping . . . including the blogflection author.

Thanks but what's the big deal of being only billions off?