7/15/2009

The Next Time That Crazy Guy with all the Animals Comes By, Get on the Boat!

We are in a world of trouble. Remember that the projections made by the Obama Administration called for unemployment to peak at 8% (currently 9.5 and heading higher) and economic growth to have started returning by now (not so much). Here is a look at some hard data from the real world that puts Hope and Change to flight...well, there is definitely change, but as Obi-wan said, "these aren't the droids you're looking for." (from BizzyBlog)



You can click on the chart for a larger version, but in plain English, tax revenues for the second quarter declined by more than a quarter of a trillion dollars! The deficit for this year (the part they admit to, and there are some serious accounting tricks being used to make things look far better than they really are) is already over $1.1 trillion dollars...and we've still got three months to go. If they weren't cooking the books we would likely end the fiscal year (September 30) with a two trillion dollar shortfall.

What does this mean? It means that Obama's plan to tax the rich to pay for health care can't possibly work. It means that the Waxman-Markey abomination to fix "global warming" by taxing businesses (and who do you think pays those taxes?) can't possibly work. It means that any significant economic recovery is a long, LONG way off. And our vehicle is being driven very fast the wrong way on a one way street.

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