Thursday, September 9, 2010

All Hail Obama Rex!!!

It seems congratulations are in order for the honorable Barrack Hussein Obama, President of the United States.
This salute comes in honor of an achievement unparalleled in the history of our republic and indeed, the entire world. He has presided over a milestone event that the first 40 men who have held the illustrious office of President of the United States could not claim to have reached.

What, pray you ask, could it be that the "Anointed One" has done to warrant this notice?

It seems that our Commandante and Chief and those who serve his cause to bring "Hope" and "Change" to the masses and to "fundamentally transform America," have another achievement to celebrate. Having seized control of two largest automobile makers in the country, and having nationalized the health care delivery system in a legislative coup d'etat, they now can now add this little gem to their list of accomplishments....

According to the non-partisan Congressional Budget Office, in the first 19 months of the Obama administration, the federal debt held by the public increased by $2.5260 TRILLION dollars, which is more than the cumulative total of the national debt held by the public that was amassed by all U.S. presidents from George Washington through Ronald Reagan. When President Reagan left office in 1989, the total federal debt held by the public (you, me, financial institutions, foreign governments, etc.) was $2.1907 TRILLION dollars. This number comes from the non-partisan Congressional Budget Office. In short, that means all U.S. presidents from Washington through Reagan accumulated only that much publicly held debt on behalf of American taxpayers. That's $335.3 billion less than the $2.5260 TRILLION dollars that was added to the federal debt held by the public just between Jan. 20, 2009, when" The Annointed One" was inaugurated (coronated?), and to think, August 20, 2010  will be the 19-month anniversary of Obama's inauguration....  It is truly an amazing thing!

Of course, being the competent, responsible administrator that he is, he did what all others in his position seem to do when confronted with the product of their poor stewardship of the nation's finances- he danced. In a style unparalleled since the days that Gene Kelly and Fred Astaire graced the silver screen, Obama did a "Potomac Two-Step" that would have made those old hoofers proud.

His claims about how he was and is "investing in America",  that his "Stimulus Plan," which by itself added $787 billion to the debt, was the only thing that could be done, was necessary to save the country. The problem was and remains that the hemorrhage of cash has not just continued....  It has increased by order of magnitude!

Let's review:
  1. AIG, the failed insurance and investment house received nearly $70 billion in bailout dollars.
  2. Citibank Group and Bank of America receive $5 billion
  3. General Motors and Chrysler received over $140 billion that they claim to have paid back but really haven't
  4. Auto Industry Financing Program received $78 billion but has paid back less than half their "loan"
  5. Bank bailouts via the Capitol Purchase program cost us $205 billion but less than half has been paid back
  6. The Making Homes Affordable Program was given $27 billion, but that cash sits in lenders vaults unused for the most part because lenders are scared to loan it due to the present state of the economy, and the general tight lending standards that are being applied now in the wake of the Housing market meltdown.
These are just a few of the ways that congress and your President are running up the tab. The only problem is that someday someone will have to pick up the check and pay the toll.
And if all else fails and the whole rotten, corrupt mess falls to pieces, he can do one of the other time-honored practices of the Washington establishment….
He can blame Bush.