Posted by
Andy Zarowny on Sunday, May 31, 2009 10:13:05 AM
Some folks think I'm too mean
towards Obama. They think I
should be more supportive of
his administration and of our
government in general. That I
should embrace the historical
nature of his presidency. I
have one thing to say to that...
NUTS!
I support many aspects of our
government. Mainly those
hard-working, non-political
types who protect America and
help it to function. But when
it comes to our elected officials
and those they appoint, well
that's where I draw the line.
Sure, Obama's election was
historic. Much of what he has
done thus far is historic. In-
cluding his recent nomination
of Sonia Sotomayor to sit on
the Supreme Court. After all,
why not have a person on the
highest court of the land who
could not sit on a jury since
she's so emphatic and could
not hear evidence objectively?
Obama, and the Democrats in
Congress, are spending money
in historic levels. People com-
plained when Bush would turn
in a budget deficit of $400
Billion dollars. Obama's first
budget is pegged at $1.7 Tril-
lion dollars! And that's only if
his own rose-tinted projections
occur. Already, they ain't.
After two consecutive quarters
of losing about 6% GDP each,
the economy is clearly in de-
cline. Unemployment has
doubled since prior to the
Democrats taking back Con-
gress in November, 2006.
The IRS now reports that
tax revenues are off some
44% from last year! So I
think it's fair to say that the
projections for Obama's 1st
year budget deficit will exceed
$2 TRILLION dollars, easily.
And that's just his FIRST year!
By the end of his first term of
four years, Obama will have
doubled, and probably more
than doubled, the National
Debt. He'll overspend more
than every single president
since George Washington,
cramming 218 years of fiscal
irresponsibility into 4 years.
And we haven't even gotten
yet to his plans to nationalize
health care!
Another historical first for
Obama is that, thanks to all
this runaway spending, our
national bond rating will pro-
bably be downgraded from
the Triple-A status it has had
since bond ratings were con-
ceived in 1917. Some analysts
predict America will be lowered
to Double-A by the end of this
year, and, if Obama continues
his spending ways, be down
to 'junk-bond' status within 10
years.
This will make servicing our
National Debt far more ex-
pensive. Interest rates will
rise, impacting the rest of the
economy. Already, many
nations, like China, who were
financing our debt, have
stopped buying our Treasury
bonds, particularly the long-
term notes, such as the 10
year, which helped keep our
interest payments on the
National Debt tolerable. China,
and others, are currently only
buying short-term notes, which
pay a higher interest rate.
While I do not blame Obama
for General Motors going bank-
rupt, it should be noted that
this will be the largest bank-
ruptcy in history. Since some
of you want Obama to be a
historic president, I think it's
fair to mention that this, too,
will be part of his legacy.
Especially since his admini-
stration is playing such a huge
role in the terms of the bank-ruptcy.
In both the Chrysler and GM
bankruptcies, Obama and his
minions are aiding the UAW
in getting more power. He
has even disregarded legal
precedent by downgrading
the status of secured bond
holders for both companies.
Instead of being at the front
of the line in getting compen-
sated for their investments
in the auto companies, the
secured bond holders are
being screwed by Obama.
But what else can one expect
from somebody who has no
use for the U.S. Constitution?
Why should centuries of con-
tract law matter? Obama in-
stead wants empathy to be the
ruling principle, as it bends to
his whim.
So this year will be one for the
history books. We shall see
many historic changes and
events which will shape our
nation's future. None for the
better, in my opinion.
There is one good piece of
history I should mention. The
Detroit Red Wings are facing
the Pittsburgh Penguins for
the second year in a row for
the NHL Stanley Cup Finals.
It's the first time in 25 years
that the two same teams are
facing each other in consecu-
tive seasons. Now that's a
piece of history I can live with!