Jan 6, 2009 3:20pm

PEBO Talks Trillions for Deficit, Purely Positive Words for Panetta

ABC News’ Jake Tapper and Jennifer Duck Report: President-elect Barack Obama forecasted close to a trillion-dollar deficit and potentially more trillion-dollar deficits "for years to come" after meeting for the second day with his economic team in D.C.

"Peter Orszag now forecasts that, at the current course and speed, a trillion-dollar deficit will be here before we even start the next budget," Obama said at his transition headquarters. "… We’re already looking at a trillion-dollar budget deficit or close to a trillion-dollar budget deficit, and that potentially we’ve got trillion-dollar deficits for years to come, even with the economic recovery that we are working on at this point."

Orzag was head of the Congressional Budget Office for the past two years and will serve as OMB director in the Obama administration.

The President-elect wouldn’t give a dollar amount but explained "an extraordinary amount of money" will be invested in an economic package that will "jump-start our economy, save or create three million new jobs, mostly in the private sector, and lay a solid foundation for future growth."

He added, "I’m going to be willing to make some very difficult choices in how we get a handle on this deficit. That’s what the American people are looking for."

"We are going to bring a long-overdue sense of responsibility and accountability to Washington," Obama vowed while promising to ban all earmarks in a recovery package. "We are going to stop talking about government reform, and we’re actually going to start executing."

On the international front, Obama wouldn’t confirm if former Congressman and Clinton Chief of Staff Leon Panetta was his pick to head the CIA, but he gave a personal ringing endorsement of Panetta.

"I have the utmost respect for Leon Panetta. I think that he is one of the finest public servants that we have. He brings extraordinary management skills, great political savvy, an impeccable record of integrity," Obama said touting Panetta’s resume and past experience of being "fully versed in international affairs, crisis management, and had to evaluate intelligence consistently on a day-to-day basis."

When asked about the violence in the Middle East, Obama reiterated there is one president at a time but he is "deeply concerned" about the conflict.

"In domestic policy, Democrats, Republicans, we can have arguments back and forth about what tax policies are going to be," he explained. "When it comes to international affairs, other countries are looking to see who speaks for America. Right now, President George Bush, as president of the United States, speaks on behalf of the U.S. government and the American people when it comes to international affairs."

The President-elect vowed to "engage effectively and consistently in trying to resolve the conflicts that exist in the Middle East" but not until after inauguration.

"On January 20th, you will be hearing directly from me and my opinions on this issue. Until then, my job is to monitor the situation and put together the best possible national security team so that we hit the ground running once we are responsible for national security issues."

– Jake Tapper and Jennifer Duck

User Comments

“”jump-start our economy, save or create three million new jobs, mostly in the private sector, and lay a solid foundation for future growth.”"
now its back to create or save. I guess it depends on the week.

Posted by: BertieW | January 6, 2009, 3:42 pm 3:42 pm

The republicans was able to control most of the spending. The deficent has doubled in the last two years under dem controls.

Posted by: James | January 6, 2009, 3:46 pm 3:46 pm

Wow, did he really say that Paneta would be good at the CIA because he has “political saavy”?? So, the best people at running our security apparatus are politicians, not career security/intelligence people? The entire CIA is up in arms about this asonine and completely politically-motivated appointment.

Posted by: Jon | January 6, 2009, 3:49 pm 3:49 pm

Meet the new boss same as the old boss………..you did not really think this guy has fresh ideas coming out of Chicago did you???

Posted by: david | January 6, 2009, 3:55 pm 3:55 pm

And he trashed Bush for the trillion debt. Now the one who siad we should not do it is doing it.

Posted by: Jim Rod | January 6, 2009, 4:02 pm 4:02 pm

I wonder what the president elect could have said in this instance that would make some of you haters happy?

Posted by: Paltick | January 6, 2009, 4:02 pm 4:02 pm

tsk, tsk. picky, picky, picky. So George Tenet, the tough guy, was a real good CIA Director? Didn’t 9/11 happen on his watch??? Wasn’t he the guy who assured Bush that invading Iraq and winning there was a “slam dunk”? And that is your knowledgeable intelligensia madman? Maybe Pannetta will be a very badly needed breath of fresh air. If the CIA is upset about this pick, that’s got to be a good thing. Maybe they are concerned that they can’t b.s. the American people any longer!! And forget about the deficit. It more than doubled under BUSH and now is not the time to worry about it getting bigger. It’s gonna happen but it’s the only way out of the mess Bush and Company have left us with. At least we won’t be spending $10Billion a month on the Iraq War much longer. There’s a comforting thought. And yes, you can create jobs and spending, but save on other wasteful projects all at the same time. Just ask any person who has ever simply managed a budget for a household. It is possible.

Posted by: geecee | January 6, 2009, 4:02 pm 4:02 pm

In other words Obama’s plan is to basically bankrupt this country with massive deficit spending, the interest on which will crowd out an incredible amount of other government spending. This is horrible and will come back to bite us in the backside in a very big way.

Posted by: Agnostic Free Thinker | January 6, 2009, 4:03 pm 4:03 pm

This is the scariest interview I have ever heard from a President-elect. CIA run by a lawyer politician? Borrowing money to try and fix a problem that too much borrowing got us into? We are in so much trouble now.

Posted by: brian | January 6, 2009, 4:03 pm 4:03 pm

You people who voted for Obama are now going to see what a real mistake you made. Obama is a lawyer who knows nothing and has never had a real job.

Posted by: brian | January 6, 2009, 4:05 pm 4:05 pm

James – You’re statement is patently false. The Republican Congress and the Republican Administration did not control spending. They led investments in the Iraq War (no bid contracts), increased domestic spending i.e. No Child Left Behind, Medicare, faith based initiatives, and pork projects such as “The Bridge to Nowhere” etc. while providing significant tax cuts for the wealthy. In many cases, Democrats went along for the ride. But spending, these past 8 years, was largely the responsibility of the Rs.

Posted by: 63tango | January 6, 2009, 4:07 pm 4:07 pm

At least Obama is being honest unlike our current POTUS who said the budget would be balanced on his watch which the opposite has happened! G dubya made LBJ look like a kid runt spending pennies to his record deficit spending!

Posted by: sybase46 | January 6, 2009, 4:09 pm 4:09 pm

Agnostic Free Thinker No, Bushey boy already bankrupted the country. Don’t blame it on Obama.

Posted by: joe the plumber | January 6, 2009, 4:10 pm 4:10 pm

I guess the “surgical knife” approach he promised in the debates is out the window. I see there is only one goofball on this site, so far, still trying to stand up for this guy. The American people who voted for this guy are so shallow. This guy got elected on appearance and charisma. Few people looked at his weak record. Trillion dollar deficits…unqualified appointees. Where’s the “CHANGE!?” Where’s the “CHANGE!?”, Barack!!!

Posted by: GK_1972 | January 6, 2009, 4:12 pm 4:12 pm

“I wonder what the president elect could have said in this instance that would make some of you haters happy? ”
We have to be extra cynical because you are extra gullible.

Posted by: BertieW | January 6, 2009, 4:13 pm 4:13 pm

david: One new idea Obama has said he would impliment is giving the middle-class a tax cut whom our inept current POTUS forgot about! Whats left of the middle-class just maybe Obama can restore it but it will take a massive effort correcting what our current POTUS has created. Probably more of an act of God!

Posted by: sybase46 | January 6, 2009, 4:14 pm 4:14 pm

sybase46, yea at least BO told you he was going to rob you…LOL

Posted by: GK_1972 | January 6, 2009, 4:17 pm 4:17 pm

I would like to know who is going to pay for this payout? Print more money and wreck the dollar or borrow from our enemies ie China. Will we require that all materials used in infra structure be made in USA or that all workers employed prove that they are legal residents. Or will we import goods and allow illegal immigrants to have the jobs. Thus allowing the taxpayers money to be spent overseas.
It is a disgrace that we are willing to mortgage our children and grandchildren futures instead correcting the problems. We need to pay of the national debt and not spend beyond our means.

Posted by: Liz | January 6, 2009, 4:17 pm 4:17 pm

Told ya!
Didn’t I? Huh, huh? Damn skippy, I did!

Posted by: Nobel.MBP | January 6, 2009, 4:18 pm 4:18 pm

Hehehe, soon the empty talk will stop and we will see which, if any, of his wonderful promises Mr. Obama can deliver. Sounds like he is starting to make excuses already..

Posted by: Mike | January 6, 2009, 4:19 pm 4:19 pm

sybase46, I’ve received 3 “stimulus rebates” since Bush has been in office. Those are in addition to the rebates I receive every year. Doesn’t that count as a tax cut? How is BO’s plan “new?”

Posted by: GK_1972 | January 6, 2009, 4:20 pm 4:20 pm

Why in the world is anyone mad at Obama? The Bush administration took a $450 billion SURPLUS from the last year of the Clinton administration and turned it into a $1 trillion DEFICIT in 8 short years. Obama is inheriting this crap.

Posted by: Eric | January 6, 2009, 4:20 pm 4:20 pm

Hey Jon – think outside the box. We are no longer living under the last 8 years Republican SOP. In 2007 Obama stated that the possibility of a terrorist group obtaining a nuclear weapon was “the No. 1 threat” facing America. A nuclear attack anywhere in the world that could have been prevented through intelligence reform would severely harm America, not to mention the Democrats. Since we are pulling out of Iraq, security will now take more than war, it takes better intelligence.
Clearly the CIA has become dysfunctional. After 9/11 the CIA never suffered the consequences of its failure to perform, and even the Bush Administration admits they received bad pre-Iraq intel. On the other hand, our military is subject to the consequences of its actions, so it is an efficient and accountable organization. Consider someone outside the dysfunctional CIA, someone completely loyal to the President first, not the CIA. Appointing an organizer like Panetta indicates Obama plans to completely reform the CIA – some believe it should be dismantled and its parts assigned to functioning organizations such as the US military, the FBI and the State Department.

Posted by: idahogirl | January 6, 2009, 4:22 pm 4:22 pm

We didn’t have THESE kind of deficits until Dem’s parked their behinds in committee chairs.

Posted by: Nobel.MBP | January 6, 2009, 4:23 pm 4:23 pm

Uh. We’re mad because we were promised CHANGE! Just because he inherited it, doesn’t mean he has to continue the trend.

Posted by: GK_1972 | January 6, 2009, 4:23 pm 4:23 pm

Obama better hope someone is willing to buy are dept.

Posted by: MikeP | January 6, 2009, 4:23 pm 4:23 pm

We are living in America’s last century folks.

Posted by: We are screwed | January 6, 2009, 4:24 pm 4:24 pm

LOL! (again)
“Uh. We’re mad because we were promised CHANGE! Just because he inherited it, doesn’t mean he has to continue the trend.”
Dude…he’s not even the acting president yet. Give him a few months after Jan. 20th! If it’s more of the same then I’ll be just as pissed as you!

Posted by: Independent Fighter | January 6, 2009, 4:25 pm 4:25 pm

How is Obama going to cut taxes and at the same time spend more money??
Healthcare for all?? It is history.!!!
Change you can believe in..!!!!lol

Posted by: CW | January 6, 2009, 4:26 pm 4:26 pm

He will now add the the deficit himself!! NO CHANGE THERE!!!
Instead of working toward solution’s to the economic problem, he only adds to them.
No Experience!! You were warned but did not listen, now everyone pays the price!!!

Posted by: HH | January 6, 2009, 4:27 pm 4:27 pm

THANK YOU ERIC!
you said it, why are they mad?
because many of them were duped by
bush.
they believed in bush so much, and he played them, therefore they cannot possible trust obama.
but you cannot fault them to much,
they are mean spirited anyway,
and if i had supported george w. bush
i would not trust another politician
either.
it is also sour grapes

Posted by: bush the usa | January 6, 2009, 4:29 pm 4:29 pm

“Bankruptcy We Can Belive In”
LOL!!! there is no change!!!

Posted by: bb | January 6, 2009, 4:31 pm 4:31 pm

Of course, how devilishly simple: His comments give him and his cronies license to maintain the status quo of waste and incompetence. Pass the buck!

Posted by: Lisa Again | January 6, 2009, 4:32 pm 4:32 pm

Gaffe-a-day quarterwit Joe Biden has now chimed in that not consulting the Senate was “a mistake.”
Sarah Palin is a lot smarter than this clown, who reminds me of a long-ago idiot named Spiro Agnew, also legendary for opening-mouth-inserting-foot on a frequent basis.
But “Good Ol’ Joe” doesn’t even wait for the Inauguration to demonstrate how truly inept he is at the art of politics.

Posted by: daveinboca | January 6, 2009, 4:32 pm 4:32 pm

Obama HAD BETTER START GIVING SMALL BUSINESSES SOME BREAKS INSTEAD OF OVERTAXING THEIR CAPITAL GAINS, SO WE GET “MORE J-O-B-S”. This guy NEEDS to understand economics. It’s NOT TIME TO PLAY GAMES.

Posted by: James | January 6, 2009, 4:32 pm 4:32 pm

Every person in the CIA is not tainted. Just like any business, you have the good and the bad. Why not promote from within? If the company that you currently work for is not doing so well, does that mean that you’re a screw up as well? That’s what you’re telling me, if you’re saying hire someone unqualified from the outside for the head of the CIA.

Posted by: GK_1972 | January 6, 2009, 4:34 pm 4:34 pm

PELOSI and her bunch demanded the bailouts. Now they are trying to blame Bush. Give me a break..!!!! Now Obama is bringing back the retired Clinton administration. Those folks, 65 and above, were good 10 years ago. Things like technology have changed a lot. Leon Panetta is 70. CHANGE????lol

Posted by: CW | January 6, 2009, 4:34 pm 4:34 pm

“Since we are pulling out of Iraq….”
Somewhere a hippie is crying.
Obama isnt pulling out, he is just going to reclassify the troops as a “residual force” (go google it) that will stay there for years.
“…Obama plans to completely reform the CIA ”
Yeah. What happens is all these anonymous leaks start showing up in the NYT and the Washington Post undermining your policies. The old ‘sources say’ stuff. There are groups in the CIA who are running their own show and dont plan on being reigned in by whoever the current political appointees are.

Posted by: BertieW | January 6, 2009, 4:36 pm 4:36 pm

Is anybody beginning to comprehend what a mess Obama is going to make? This is really a sad situation.

Posted by: brian | January 6, 2009, 4:37 pm 4:37 pm

For those who tie national debt to Bush are cretins at best. Only an idiot thinks that Bush created this mess. It is us, ordinary folks, who spends more than what we earn. How many of you are guilty of buying fat mortgages with little money to actually pay them? We are taught to spend, spend and spend until we have nothing else left and crawled on our knees begging the government to bail us out! It is us and our lust for worldly things!

Posted by: SteveS | January 6, 2009, 4:40 pm 4:40 pm

Hope all of you who voted for Obama are ready for the longest and worst ride of your lives.

Posted by: bb | January 6, 2009, 4:41 pm 4:41 pm

You mean he can’t part the seas?
He can’t end the war in Iraq like he promised?
He can’t give every man, woman and child a gov’t care package?
You mean he can’t rob more from the rich to give to the poor without screwing our economy up further?
You mean he just said all of those things to get elected?
Shocking!!!!!

Posted by: Dave | January 6, 2009, 4:41 pm 4:41 pm

All I have to say is DUH! I’m not a professional on an economic team wasting some more tax dollars… but I could have predicted that! This country has been in debt for years! And it’s not any political party’s fault! It’s just the way economics work and how people buy, what they buy, and when. And I agree, Obama was elected because of his looks. The stupidest excuse I heard as to why someone would vote for him was because they said they wanted to be a part of history. Are you kidding me? If you guys want to get more dirt read the White house chief of staff’s new book and his plan for america. Makes me sick!

Posted by: sc4lexi | January 6, 2009, 4:42 pm 4:42 pm

PEBO can’t make the change if we won’t. Simple as that!

Posted by: SteveS | January 6, 2009, 4:43 pm 4:43 pm

bb,
we ALL just had the longest and worst ride of our lives this past eight years with george w bush.

Posted by: bush the usa | January 6, 2009, 4:44 pm 4:44 pm

Obama and Blago two peas in a pod..!!!!

Posted by: CW | January 6, 2009, 4:45 pm 4:45 pm

Republicans are so full of envy and anger…Instead of being happy of having a wonderful president loved by the majority of Americans as well as the rest of the world, they rather have a corrupted liar like Bush who most people hate in America and around the world.
Republicans sometimes look anti-American.

Posted by: Andy | January 6, 2009, 4:45 pm 4:45 pm

The deficit will be $1,000,000,000,000? What will the national debt be? America is broken. Other countries must be laughing at us now. We can’t sustain our debt. Only a fool believes that you can continue to spend what you don’t have. At some point, people are going to want to see some real money, not IOUs. People in America are going to have to re-learn the value of hard work, or they will fade away. These numbers are truly frightening.

Posted by: Sean O'Brien | January 6, 2009, 4:45 pm 4:45 pm

I still prefer to let him take office before criticizing his presidency. The budget deficits thus far are not of his making.

Posted by: Enough | January 6, 2009, 4:45 pm 4:45 pm

I know this may be disorienting, but the Bush era Supply Side Economic policies are out the door. Nouriel Roubini, Professor of Economics at NYU, predicted this economic mess years ago. He was dismissed by Wall Street financial community and labeled “Dr. Doom.” Roubini says now America urgently needs radical policies to prevent a 2-year recession from turning into a systemic meltdown and a decade long global economic Depression. He says the federal government must act immediately with Keynesian economic shots in the arm: unemployment benefits, targeted tax rebates, and federal block grants to state and local government for infrastructure spending on roads, sewer systems, bridges. It appears the incoming Obama administration agrees this is the route to take right now to build new jobs.

Posted by: idahogirl | January 6, 2009, 4:46 pm 4:46 pm

So goverment spending is the only way to improve the economy? If that’s the case, we should be sitting pretty. I mean we’ve got a $10+ trillion debt!!!!

Posted by: GK_1972 | January 6, 2009, 4:46 pm 4:46 pm

bb
thanks to the longest and worst ride the last eight years with bush,
we are not getting ready to ride the mccain straight talk further into the ditch express.
hey, i just found something nice to say about george w bush.
mr. bush thank you, your term was SO BAD, the majority of american citizens could not chance voting for mccain.
thanks george w bush, you saved us from mccain and palin

Posted by: bush the usa | January 6, 2009, 4:47 pm 4:47 pm

We just elected a smooth-talking, civil rights lawyer with 0 experience running a business, and 0 executive experience to run the free world.
Thank God he spent all those years organizing those communities in Chicago (which have steadily seen crime rise each year). I feel soooo much better!
ROMNEY/PALIN 2012
PALIN/ROMNEY 2012
ROMNEY/PALIN 2012
PALIN/ROMNEY 2012
ROMNEY/PALIN 2012
PALIN/ROMNEY 2012
ROMNEY/PALIN 2012
PALIN/ROMNEY 2012
ROMNEY/PALIN 2012
PALIN/ROMNEY 2012
ROMNEY/PALIN 2012
PALIN/ROMNEY 2012
ROMNEY/PALIN 2012
PALIN/ROMNEY 2012
ROMNEY/PALIN 2012
PALIN/ROMNEY 2012

Posted by: Dave | January 6, 2009, 4:47 pm 4:47 pm

Wow. I missed the campaign stump where Obama promised us a trillion dollar deficit for years to come.

Posted by: Paul | January 6, 2009, 4:48 pm 4:48 pm

Obama will get the blame for the coming depression, It may not be fair but he’ll be in office and will be blamed. He probably has untill March or April before it all comes crashing down. After that you’ll se riots, martial law , and food shortages, it’s going to get very ugly!!

Posted by: ynot | January 6, 2009, 4:50 pm 4:50 pm

dave,
bush had so called experience
a governor, just like palin and romney
look where bush has gotten us.
i really don’t see mitt romney wanting
to be on ANY ticket with palin.
that is not going to happen ever.
if he were running for president he would not ask her to be is vice
and if she were on the top of the ticket he would not accept her asking him to be her vice president.
you can write that a million times, but it will not happen.
no palin or romney anything

Posted by: bush the usa | January 6, 2009, 4:54 pm 4:54 pm

bush the usa…Well I have something nice to say about Obama
Mr Obama, thank you for already planning on adding another trillion dollars to our already growing national debt.
Mr Obama, thank you for getting to lead this country into the ground with your geriatric Clinton staff and your lack of experience.

Posted by: bb | January 6, 2009, 4:57 pm 4:57 pm

Just a way of telling us he going to spend lots of $$$$$$$$

Posted by: Lumberman_63 | January 6, 2009, 4:58 pm 4:58 pm

Where is ” HOPE”,” Yes, We Can”???
Oh…I miss that words from him soooo much!
It made me feel soooo goood,,,flying on the sky…ehmmmm
Once he becomes PEBO, those words are bitter and scare me.

Posted by: catleya | January 6, 2009, 4:58 pm 4:58 pm

Face it, he was more interested in becoming President then he was being President.

Posted by: Nobel.MBP | January 6, 2009, 5:00 pm 5:00 pm

“We just elected a smooth-talking, civil rights lawyer…”
I dont even think the guy was a civil rights lawyer.

Posted by: BertieW | January 6, 2009, 5:00 pm 5:00 pm

ynot,
you know what, after 9/11 the bush adm.
said “it was the clinton adm that set the stage for 9/11
and a lot of people said “oh yes lets blame bill clinton for 9/11
so if the economy goes completely into a depression and your prediction comes true,
everyone will know it was from
george bush.
or are most of the obama (not even president yet) bashers so blinded
that george w bush just put this country through a mess- and it is all
everything that went wrong in the beginning of bush adm. was bill clinton’ fault.
and everything that has gone on in the last half of bushes reign will be obama
fault.
no wonder bush served two terms,
so many of you think just as i suppose he does.
because i will bet you money that is just the way bush thinks it is clinton fault or obama fault
and to the rest of it
according to bush.
“so what?”

Posted by: bush the usa | January 6, 2009, 5:03 pm 5:03 pm

Damned if he does and damned if he doesn’t–
Good luck President-elect Obama you are going to need all that you can get!!!

Posted by: Ohmygod | January 6, 2009, 5:04 pm 5:04 pm

Thanks for nothing, Bush: a never ending war in two countries; the worst economy since the Great Depression; unemployment approaching 10% in many locales; a failed foreign policy which has made more enemies than friends; torture; spying on US citizens; evil D. Cheney; evil D. Rumsfeld; Scooter Libby. What a great legacy he leaves Obama.

Posted by: William J. LePetomane | January 6, 2009, 5:04 pm 5:04 pm

I don’t quite understand all of you people. Give the man a fighting chance. I am sure it will take awhile to get things turned around. And I think he is the man who can do this for the USA. JUST GIVE HIM A CHANCE!!!!!!!!!!! He just needs the chance to set things in motion. I am sure he has a good plan and he has a good team to back him and give him advice. HE WILL DO IT. Quit complaining before you even know anything about how he plans to do this for us. Have you ever heard of patience????

Posted by: Linda | January 6, 2009, 5:05 pm 5:05 pm

So he went through the budget line by line and now he is going to more than double the deficit? I guess that now makes Liberals closet Cheney supporters.
His (and his supporters) lies were so obvious the media refused to analyze them.
If he was white, he would have never gotten the nomination with his background, lack of experience, and outright lies.

Posted by: Nobel.MBP | January 6, 2009, 5:08 pm 5:08 pm

Republicans are so full of envy and anger…Instead of being happy of having a wonderful president loved by the majority of Americans as well as the rest of the world, they rather have a corrupted liar like Bush who most people hate in America and around the world.
Republicans sometimes look anti-American.
Posted by: Andy
____________________________________
Anti-American? Really Andy!
I thought it was Obama’s very good friend and mentor for 20 years, Rev. Wright who said “God D___ America.”
Yes, Obama is definitely loved by the rest of the world. The rest of the world, especially Al Qeada has always salivated like dogs for America to weaken so they can have a shot at us. With Obama as President, now they have their chance.
As to all Americans loving Obama, as I recall, McCain won 21 states. That’s quite a bit of states for a candidate that everybody HATES, right? Obama just barely won this election in a squeaker.

Posted by: marco | January 6, 2009, 5:08 pm 5:08 pm

Isn’t it interesting how the republicans are bashing Obama about the trillion dollar deficit when it’s their cuddle bunny Bush and his failed policies that have gotten us into this mess in the first place?
Come on, let’s not forget who’s been running this country for most of the past 8 years!
Let’s not forget who attacked Iraq without cause and brought our economy down for nothing but a pipe dream of having an oil spigot in the middle east.
Any of you who bash Obama before he’s had a chance to prove what he’s going to do are pathetic. You’ve had your eight years to cause ruin in the world, we’ll take ours to try to put it all back together.
As someone once said, if you want to live like a republican, vote democrat.

Posted by: Scott | January 6, 2009, 5:08 pm 5:08 pm

And the sun is bright, night is dark, rain is wet…

Posted by: Bob | January 6, 2009, 5:09 pm 5:09 pm

‘One new idea Obama has said he would impliment is giving the middle-class a tax cut whom our inept current POTUS forgot about!”
It looks like you forgot that the Bush tax cuts were across the board including the lowest tax brackets. Look at sites like taxfoundation.org if you want a good representation. The rich benefit more because they pay in more.
Clinton campaigned on middle class tax cuts and raised all taxes for people making above $20K. That is how he helped “balance the budget” in addition to the economic bubble that popped during his administration.
The 2000 dotcom and 2001 tech crashes erased any projected budget surpluses. Sorry to the liberals for injecting a little fact into the rhetoric.

Posted by: Cryos | January 6, 2009, 5:10 pm 5:10 pm

dave,
rotting in his grave?
we had no business invading iraq.
saddam is rotting in his grave, but the man who is behind 9/11 is still free
while bush was invading iraq, and putting saddam in his grave,
osama bin laden was running free
and still is.
i suppose that people who lost love one on 9/11 are glad bush put saddam in his grave. “didn’t get the right one, but this one will do”

Posted by: bush the usa | January 6, 2009, 5:10 pm 5:10 pm

Sorry Dave, your fellow Republicans will never nominate Romney. He’s from a religious cult remember? And as for Palin we Democrats will be more than happy to run against her every time!

Posted by: Skip | January 6, 2009, 5:13 pm 5:13 pm

BertieW
Actually, I am right and you were wrong. One of the few cases he did take in the 90′s, in between writing books titled after rev racist’s speeches, was about minority housing.
He was defending minorities’ rights to obtain mortgages that they could never afford, with ACORN right next to him. What a guy!
Barry was a community agitator that was knee deep in this financial mess.

Posted by: Dave | January 6, 2009, 5:14 pm 5:14 pm

What makes anyone think a stimulus package is going to help? We’ve had several already and the economic situation has only gotten worse! Seems to me the money could be put to better use or not used.

Posted by: Susan | January 6, 2009, 5:16 pm 5:16 pm

He has to submit his first budget next month and already he telling us HIS budget will more than double the current deficit, and that doesn’t include over expenditures from a Democrat owned Congress.
Next fiscal year alone will add $1.5+ trillion to the debt.

Posted by: Nobel.MBP | January 6, 2009, 5:17 pm 5:17 pm

BertieW, you are right about the CIA’s press connections whose careers have benefited from illegal leaks. They will be bummed out. Same with the companies with lucrative CIA contracts. But Obama does not plan to continue the status quo. Just look at his tech campaign organization. Obama’s choice of a loyalist shows he understands the threat we face from a dysfunctional CIA. Panetta may have zero espionage experience, but he has the one qualification Obama needs: the ability to bring the power of the presidency to bear. Maybe a military officer would have been a safer CIA appointment, but Obama appears to want partisan political connections. Brave new world Bertie and change is not all bad.

Posted by: idahogirl | January 6, 2009, 5:17 pm 5:17 pm

Is it Bush’s fault that there is a global recession? Those of you who constantly want to blame Bush for everything that goes wrong are sorely mistaken. Sure he hasn’t done a lot of things right, but not everything is his fault. And those of you who think Obama can make everything better are sorely mistaken as well. Hopefully, things will improve, but, unfortunately, they could get worse — like they did with Carter.

Posted by: Susan | January 6, 2009, 5:20 pm 5:20 pm

Suddenly, before PEBO is sworn in, he’s implicitly stating that he’s not going to be able to reign in on the government deficit as he had promised. I wish I could’ve done that in college, “Well teach, before you give me my A, I’m only going to be able to do C work but I’m definitely worth the A”.

Posted by: BT | January 6, 2009, 5:21 pm 5:21 pm

Dave said……”
You mean he can’t part the seas?
He can’t end the war in Iraq like he promised?
He can’t give every man, woman and child a gov’t care package?
You mean he can’t rob more from the rich to give to the poor without screwing our economy up further?
You mean he just said all of those things to get elected?
Shocking!!!!!”

Posted by: CW | January 6, 2009, 5:22 pm 5:22 pm

Bush the USA
We had no business invading iraq?
How do you “human rights” liberals sleep at nite? There were hundreds of operating torture chambers in Iraq filled with screaming victims that will never be used again (as long as America is there), but hey! NO WMD’S!
Forget the mustard gas and other chemical weapons we DID find that saddam used against his own people. Along with mass graves filled with almost 1 million dead iraqis. but hey, NO WMD’S!
Clinton said numerous times that saddam was a serious threat, he either had WMD’s or was trying to get them, and he needed to be removed from power.
I just think Clinton was a little too busy playing hide the cigar to do anything about it.
As for the victims of 9/11, of course my heart goes out to them. I just have to shake my head at liberals who also say they pity the victims. Liberals have fought against every piece of anti-terrorist legislation, but somehow claim to be pro-America.
Liberal patriotism is an oxy moron.

Posted by: Dave | January 6, 2009, 5:26 pm 5:26 pm

At last! A Truthful, upfront president who’s pulling no bull and letting us know the pain before it comes….as compared to that other one that hid the numbers. And was then “surprised” how high the Iraq war would cost.

Posted by: Sally in Chicago | January 6, 2009, 5:27 pm 5:27 pm

“I will go through the budget lie by lie”.

Posted by: Barak Omama | January 6, 2009, 5:28 pm 5:28 pm

IN DEBT WE TRUST – spawned with the birth of the baby boom generation. Obama, a boomer himself, is carrying the relay torch. The most selfish generation in history – burdening countless generations that follow.

Posted by: Anonymous | January 6, 2009, 5:30 pm 5:30 pm

The Borgen Project has informative statistics on addressing global poverty.
$30 billion ends world hunger
$550 billion is the US Defense budget
This organization has the ability, resources, and policy-makers to suppress the threat of global poverty by enacting legislation here in the US, which is tied to the United Nation’s Millennium Development Goals. Please support organizations such as The Borgen Project so that we may rid the world of poverty.

Posted by: Abel Tsegga | January 6, 2009, 5:32 pm 5:32 pm

Thanks Eric, very nicely put. Obama is inheriting a job, most would not want. I would hope he was paying attention the last eight years, a perfect handbook of what not to do as president of the United States of America. I happen to like his cabinet selections, and Bill Clinton was a lawyer to, so is his wife. When your in trouble like this, you usually don’t call a doctor. But I like Obama’s pick of Sanjay Gupta, not to be partisan I liked DR. C. Everett Coop too.

Posted by: Joan | January 6, 2009, 5:35 pm 5:35 pm

“The Bush administration closed Saddam’s torture facilities so they could start their own.”
Somehow dropping water down terrorists’ noses and cutting marines’ heads off doesn’t really match up.
Liberals always miraculously end up taking the anti-American position.

Posted by: Dave | January 6, 2009, 5:36 pm 5:36 pm

Dave,
After researching this I see that you are more right. Obama’s web site described him as a civil rights lawyer and there are a couple of cases he took that if you stretch the point you could claim were civil rights.
His career seems to have amounted to not much of anything. He always let the other co-consuls do all the talking.
I did find this interesting:
“Obama was also recruited in law school by developer Antoin “Tony” Rezko, who back then had a reputation as “a star” of the urban renewal movement in Chicago. More recently, Rezko was indicted for allegedly using his clout with elected officials to amass taxpayer funds for self-enrichment.

The firm was headed by Allison Davis, who eventually left the firm to become a developer of low-income housing himself, sometimes in partnership with Rezko. Obama worked on some of those projects. “

Posted by: BertieW | January 6, 2009, 5:38 pm 5:38 pm

It’s called having principles. You either torture people or you don’t. Somehow Republicans always end up taking the un-christian position.

Posted by: Skip | January 6, 2009, 5:41 pm 5:41 pm

BertieW
Sorry I snapped at you. I was trying to finish up at work and I mistakingly took you for an obamabot!
It’s 5:00 and I am goin home! keep up the good fight. Remember, if you start getting cornered by liberals just start typing
USA! USA! USA!
It’s like garlic to vampires

Posted by: Dave | January 6, 2009, 6:01 pm 6:01 pm

Here we go. A Trillion dollar yearly defecit. There’s nothing in this ecconomy that requires this kind of spending. Unemployment still relatively low. It’s approximately 7% nationwide. Not bad. Economy in recession for 15 months – which is about about average. We’re on the other side of the recession if history has anything to say about it. *No – this spending is just a power grab to reapportion hard working people’s money (Republicans) – just to give it to people who are not very hard-working and who appear to be less than motivated.(Democrats)

Posted by: stopspending | January 6, 2009, 6:04 pm 6:04 pm

Obama economic concepts sound like he’s repackaging the past into the future.

Posted by: Abiodun | January 6, 2009, 6:09 pm 6:09 pm

BertieW…..Your post is quiet revealing.
it is too bad things like this don’t get reported. You said.”Dave,
After researching this I see that you are more right. Obama’s web site described him as a civil rights lawyer and there are a couple of cases he took that if you stretch the point you could claim were civil rights.
His career seems to have amounted to not much of anything. He always let the other co-consuls do all the talking.
I did find this interesting:
“Obama was also recruited in law school by developer Antoin “Tony” Rezko, who back then had a reputation as “a star” of the urban renewal movement in Chicago. More recently, Rezko was indicted for allegedly using his clout with elected officials to amass taxpayer funds for self-enrichment.

The firm was headed by Allison Davis, who eventually left the firm to become a developer of low-income housing himself, sometimes in partnership with Rezko. Obama worked on some of those projects. “

Posted by: CW | January 6, 2009, 6:11 pm 6:11 pm

BertieW – stop using math. Libs won’t understand anyway. The 1:1 GDP comment was righ ton point. Although it has to be less than 1:1 when factoring in the cost to adminster that money. Yes?
*People of the US – wait until all of this additional money is taken from the private sector in the years to come – corruption will be the rule not the exception at every level of goverment.

Posted by: stopspending | January 6, 2009, 6:13 pm 6:13 pm

BertieW – note that I posted “new age” Keynesian economics. We are in uncharted waters, not just traditional Keynesian big projects and not just traditional Supply Side tax cuts. Obama’s economic proposals have been shaped by economists Jason Furman and Austan Goolsbee. Goolsbee has been called amiable, empirical and a voice of reason – he’s not a tax ‘em to death socialist. Furman was director of economic policy for the Obama campaign. He’s a free trader who supports a robust social insurance safety net for the out of work, but he also favors broadening the U.S. corporate tax base by lowering the corporate tax rate and limiting exemptions, very similar to Reagan’s 1986 tax reform. Brave new world Bertie and not all change is bad.

Posted by: idahogirl | January 6, 2009, 6:13 pm 6:13 pm

Anyone ready to split this union in to the Conservative states of the Republic and the Liberal states of the Confederacy?

Posted by: Dividedwefall | January 6, 2009, 6:19 pm 6:19 pm

Anyone ready to split this union in to the Conservative states of the Republic and the Liberal states of the Confederacy?

Posted by: Dividedwefall | January 6, 2009, 6:21 pm 6:21 pm

Anyone ready for this to split in to a union of Conservative states of the Republic VS the Liberal states of the Confederacy?

Posted by: Dividedwefall | January 6, 2009, 6:22 pm 6:22 pm

After the trainwreck of the worst republican era ever…listen, they created a crap-storm and now they are crying that it’s raining crap! They really aughta be given some forks!

Posted by: Scotti | January 6, 2009, 6:31 pm 6:31 pm

Another whole page of Republican critics that complain and predict disaster but don’t have any suggestions at all about how to fix anything. That’s why your guys were kicked out of DC. They had nothing at all to offer this country.

Posted by: Skip | January 6, 2009, 6:32 pm 6:32 pm

Bush may have bankrupted the country, but Obama will put us in dept for 1000 years!

Posted by: Todd | January 6, 2009, 6:33 pm 6:33 pm

bush destroyed the poor and working class and it will take money and time to repair it..

Posted by: T | January 6, 2009, 6:46 pm 6:46 pm

My question is if one trillion dollar deficit hit the economic this bad wots happening next when deficit becomes three trillion dollar? Its better everyone start getting worried now!

Posted by: Abiodun | January 6, 2009, 6:52 pm 6:52 pm

CHANGE YOU CAN BELIEVE IN!
So I guess PEOB had no earthly idea what he stated in his ecomonic forcast
wasn’t possible until this week.
Look’s like we are getting at least 4 more years of Bush anyway. Saying he didn’t know two months ago is weak at best. So what are we really getting with him? Well Europe is happy, right?

Posted by: BZ | January 6, 2009, 6:54 pm 6:54 pm

I’m not sure that the baby-boomer generation is the most selfish generation of all time. Its a combination of many things that have caused this financial crisis, with greed and avarice at its core. My parents and grandparents generation basically did not have loose credit at their fingertips, and had to save up and pay cash for most consumer items. In addition, in their generation, a person (man, mainly) was considered successful, a good provider, if you will, if they owned their own home and could live on a modest pension after retirement. Today, success is measured by how many top of the line material possessions you own and if you can amass millions, if not billions, in assets and net worth. The result is a societal failure from all aspects, poor to rich. The wealthy only want more wealth and the poor want something for nothing (i.e. subprime mortgages, expensive consumer goods financed over too many years, etc.). With people like Madoff, who ripped off countless investors with seemingly no remorse, and billionaires killing themselves over their losses, our society is messed up. I’m not sure Obama can fix that mess, but maybe he and his staff choices can come up with ideas that will fix the economy over the short term. Our other woes will only be fixed when we look past our noses and help those around us.

Posted by: RohnertPark1 | January 6, 2009, 7:00 pm 7:00 pm

There does not have to be the deficits if the following plan is enacted
IDEA FOR THE ECONOMIC SOLUTION
New idea to create demand in residential real estate and solve the economic crises
1) Have a monthly lottery, where any home bought gets that buyer’s name entered.
2) On the 20Th of the following month on national television draw names per state based on the number of U.S. representatives that state has. The first name drawn in each state gets their purchase price paid back and 1 million dollars. The other names drawn will each get 100k
3) This should be retroactive to the first day that it is announced nationally so that those intending to buy property do not hold off until it begins.
4) Some TARP funds could be used for this and it can begin tomorrow.
5) This would mean that there would be 435 winners per month. Times 12 months equals 5220 winners per year. If 7 million homes are sold a year this gives you a 1/1340 chance of winning. This will help motivate people to buy houses, prices will stabilize and the economy will recover.
6) This is cheaper and wiser then throwing $ at the banks and it has a better chance of achieving results. Giving Banks money does not encourage them to lend. How can anyone blame them? Who would lend someone money against an asset that is falling in value? WE MUST STABILIZE HOME PRICES OR THIS ECONOMY WILL NOT RECOVER.
7) Putting the drawing on TV will give this idea incredible exposure. Companies will eagerly want to sponsor it and also throw in free prizes such as free cars, cruises, airline tickets, vacation packages etc. They have just as much to gain as consumers. This can actually become a national phenomenon and be a great deal of fun for the country.
Try to get Hollywood and Sports athletes involved in some fashion.
8) Also, there should be a zero % capital gains tax on any property purchased during the next year no matter when you sell it. This should only be on new purchases to help absorb some of the high housing inventory. Investors will snap up some properties and make things happen. This is a win win situation because no homes are selling anyway so there is no capital gains tax lost.
9) The situation is not really as complicated as people like Henry Paulson try to make it sound. In fact it is not Harvard economics it is simple 5th grade economics of supply and demand. We could eliminate supply by tearing down the excess inventory or we can stimulate demand with the ideas above, some variation of them or entirely new ones. Or we can wait until it happens on its own causing mass unemployment and foreclosures in the process.
ACTUAL COST OF PRIZE MONEY =1.062 BILLION (may be less with corporate sponsors)
ACTUAL POTENTIAL BENEFIT TO THE U.S. ……..PRICELESS.
We have nothing to lose. The money invested will stay in the economy and we are sure to gain back at least what was invested.
We need to get people involved, Television, Hollywood, Sports athletes. World War II was won by getting people involved, volunteerism, purchasing of war bonds etc. That is why we won.
Obama won the presidency by getting people involved. He is the person that can make this happen. He can make progress in 30 days if he announces this plan. Please pass this on to President Elect Obama.

Posted by: matthew | January 6, 2009, 7:07 pm 7:07 pm

defaulting on debt and living on borrowed money caused our problems so Obama is going to fix it by doing what? Borrowing more money and creating more debt. This is just plain stupid.

Posted by: Brian | January 6, 2009, 7:11 pm 7:11 pm

We need the best intelligence we can get so what does Obama do? appoint somebody who knows nothing about intelligence. We are in serious trouble. Expect the next terrorist attack as soon as Obama finished destroying the intelligence agencies.

Posted by: Brian | January 6, 2009, 7:13 pm 7:13 pm

“My question is if one trillion dollar deficit hit the economic this bad wots happening next when deficit becomes three trillion dollar?”
Simple- you just need a 9 trillion stimulus then. And so on.
The current plan is to rebate money to people who dont pay taxes in the first place to buy Chinese junk they probably dont need. You just give way enough money to enough people and you can lock up a majority of the votes. The actual portion of the electorate paying taxes will be so small they’ll never have any electoral influence to fix it.
If the economy becomes worse then people will just need their messiah more for another round at the stimulus bar.
At some point we are going to look back at the current mindset and think it makes about as much sense at the CW from a few years ago that everyone should be flipping houses and selling them to each other and they were going to keep going up and up.

Posted by: BertieW | January 6, 2009, 7:14 pm 7:14 pm

dividedwefall: Please do NOT insult us by calling the Liberals the Confederacy and the Conservatives the Union. I would prefer it the other way around. The South shall Rise Again !!!!!

Posted by: gemalo | January 6, 2009, 7:15 pm 7:15 pm

“WE MUST STABILIZE HOME PRICES OR THIS ECONOMY WILL NOT RECOVER”
Can you demonstrate this? Really its default rate on home mortgages that is hurting bank liquidity. Liquidity means the ability for investors to expand businesses, which is what drives the economy. Not necessarily home sales and construction.
How do you fix the fundamental problem of people not being able to service the mortgages at the inflated housing prices. Its seems to me that you have to let the housing market find a support level at which mortgage debt can be serviced first.
Adding a perverse incentive of a lottery just encourages people to buy houses that they normally wouldnt justify. That usually isnt good.

Posted by: BertieW | January 6, 2009, 7:23 pm 7:23 pm

Why can’t we get countries to payback the gazillions that we have given them?
Why is it that we take care of people who hate us and not our OWN American CITIZENS – our own country?
These are things that the government did without our approval – we only get a choice of elected officials but never get to voice our opinion and they make dumb decisions!
$15 BILLION dollars to bail out the banks – you could give each American CITIZEN a couple of million so that we could afford to make purchases to keep things afloat!
Rebuild devastated areas from floods, hurricanes and tornados. Money for NATURAL disasters, not man made ones.
No one is saving American CITIZENS and we are not being asked via a vote as to what we would like or not like to be done, so money is being given away like Monopoly money.

Posted by: Sue | January 6, 2009, 7:25 pm 7:25 pm

Bush and the Republicans have left the country in such pitiful financial shape, not even God, Allah and Buddah working together could fix it.
You whiners should get back to work at your $12 an hour jobs and leave the big thoughts to the Republican leaders – they are the only ones who really know what to do.

Posted by: pefros | January 6, 2009, 7:27 pm 7:27 pm

Leon PANETTA? For CIA Director? What’s the matter, wasn’t Caroline Kennedy available?

Posted by: BlofeldBuildings | January 6, 2009, 7:29 pm 7:29 pm

TRILLION DOLLAR DEFICIT!?!?! FOR YEARS?!?!?
Who says the world can stomach USDebt to that proportion?
And another thing, are we supposed to be impressed with Obama’s eggheaded wranglings? What businessman in their right mind would announce to his whole market, his entire investor pool, that he predicts debt of unprecedented proportions for the sake of the ease of his employees? Yet that’s exactly what he’s doing. There is no visionary leadership here – just depressing academia.
I am, again, disappointed.

Posted by: NPage | January 6, 2009, 7:29 pm 7:29 pm

“This news should come as a surprise to NOBODY. You CANNOT invade and destroy a nation (essentially assuming all responsibility for it) at a cost of 11 billion dollars PER WEEK and NOT expect horrific consequences. We screamed at you warmongers for years about this very prospect and all we got was scorn and ridicule. WELCOME TO BUSHLAND baby.”
Sad but undeniable.

Posted by: pefros | January 6, 2009, 7:32 pm 7:32 pm

Sue – It’s a little idealistic, but I fully agree.

Posted by: NPage | January 6, 2009, 7:32 pm 7:32 pm

pefros – He’s not talking about past war expenses, or even current ones…He’s talking about future welfare, workfare, whatever you want to call it…causing this tremendous deficit.
And don’t you think for one minute that Barack Obama won’t fight a war. He has mentioned his interest in Afganistan for a long time now.

Posted by: NPage | January 6, 2009, 7:35 pm 7:35 pm

This idiot, who spent a whopping 143 days as a “voting present” Senator, has NEVER run a business, has NO executive experience, and who has spent ZERO days working in the private sector, is now going to create 2.4 million jobs and tell US how far we’re going to be in debt, and for how long? And he bases these predictions on WHAT?
THANKS Obama-trons. We’re all in BIG TROUBLE.

Posted by: BlofeldBuildings | January 6, 2009, 7:36 pm 7:36 pm

NPage in case you haven’t noticed, that ‘past war’ is still going on and the costs of that war continue to mount by billions every week.

Posted by: pefros | January 6, 2009, 7:38 pm 7:38 pm

Relax BlofeldBuildings. A new administration is a window of opportunity for intelligence reform. “Ishmael Jones” a former deep-cover CIA officer, and author of “The Human Factor: Inside the CIA’s Dysfunctional Intelligence Culture” thinks Leon Panetta is an excellent choice because he will be loyal to the president first, not to the CIA. Jones says Panetta may have no espionage experience, but Panetta has the only qualification he needs: the ability to bring the power of the presidency to bear. Clearly the CIA has been dysfunctional and failed our country with 9/11 and Iraq intel. The choice of Panetta indicates Obama plans to reshape the CIA into an new organization that can better provide the intelligence necessary to protect our country.

Posted by: idahogirl | January 6, 2009, 7:47 pm 7:47 pm

T says: “bush destroyed the poor and working class and it will take money and time to repair it..”
First of all, when it comes to the poor, there is nothing to destroy. THEY’RE POOR! It is not the government’s responsibility to make them un-poor in any way. Secondly, the working class isn’t destroyed. Like any honest people with integrity and an interest in their future, they’re WORKING. How does working equate with “being destroyed”? Finally, when Bush leaves office in 14 days, who are you going to blame for all of your perceived problems? Besides YOU, of course. No one could EVER blame YOU – you’re perfect!

Posted by: BlofeldBuildings | January 6, 2009, 7:53 pm 7:53 pm

Blo you seem to have missed the fact Bush has bankrupted every american with his neo-con fantasy attack on Iraq . . . that is still costing the american public billions and billions of dollars every week.
You think that doesn’t damage working americans (including the poor)?

Posted by: pefros | January 6, 2009, 8:00 pm 8:00 pm

We expected people to realize Obama was only human, cannot part the seas of debt, or bring peace to the land, sometime after his election. We didn’t think he was going to set the bar so low before his was sworn in. His answer like every Democrats is money. He is taking the path that Bush had down to stimulate the economy. He has found out early that all those taxes he wanted to raise on those rich making over 250,120,70k whatever the number, are probably not the wisest move during a recession. He is even talking tax cuts which is what Bush did to. So where is the change people! You could have elected a Republican and gotten the same solutions. Obama is finding that it will be harder to govern than to win.

Posted by: jschmidt | January 6, 2009, 8:02 pm 8:02 pm

This just sounds like the
Bush Idea of fixing the
economy …
Is there a Plan B if we find
the whole we are digging
is just getting deeper with
no end of bailouts forever?

Posted by: Anita Yova | January 6, 2009, 8:04 pm 8:04 pm

jschmitt the bar was already set at its lowest by the Bush administration. Regrettably no one can magically raise the bar under these types of horrific economic circumstances?
I’m sure your economic advice is far better that the accomplished professionals Obama gathered to access the proper approach.
And please don’t forget the Bush republicans were hundreds of billions of dollars overspent EVERY year of their regime. Talk about throwing money at problems – call a Republican.
I like what Obama is doing, you don’t. Big deal.

Posted by: pefros | January 6, 2009, 8:15 pm 8:15 pm

“Blo you seem to have missed the fact Bush has bankrupted every american with his neo-con fantasy attack on Iraq . . . that is still costing the american public billions and billions of dollars every week.”
Just think of it as a Government stimulus!
After all military spending is one of the few things the government can spend on immediately. Bridges will take years.

Posted by: BertieW | January 6, 2009, 8:16 pm 8:16 pm

Obama – “Soaring deficits for years’
In other words, he is setting a very low expectation for his performance. When deficits fall below $1 trillion, say to 900 Billion, he will claim success. And you will buy it. Of course, you will pay for it, first. The expectations game is a great game and Obama knows how to play it.

Posted by: Sigmond | January 6, 2009, 8:41 pm 8:41 pm

Signmund . . . don’t forget, Bush and the Republicans entered office promising smaller government.
Here’s how the Republicans ran the government when they had control of Congress and the Presidency.
REPUBLICAN GOVERNMENT
$421 Billion OVER BUDGET (2002)
$555 Billion OVER BUDGET (2003)
$596 Billion OVER BUDGET (2004)
$554 Billion OVER BUDGET (2005)
$574 Billion OVER BUDGET (2006)
This includes RECORD overspending.
Time have been left far worse now than during those years, and more drastic measures are required to prevent the further complete collapse of the American economy that developed under Bush’s watch.
Don’t be too harsh on the new man, or at least be forthcoming about the situation.

Posted by: pefros | January 6, 2009, 9:07 pm 9:07 pm

Unbelievable…..I cannot believe we are going down this road. He knows he cannot live up to the expectation of the “Media led Lemmings”. He is in for one big fall. Ten years from now, good luck on finding someone who admitted to vote for him. This is a great example of “Carful what you wish for”….

Posted by: Dr342 | January 6, 2009, 9:12 pm 9:12 pm

prefos- do you have any recollection of why the Republicans spent so much money? Remember a stimulus package for 9/11 and the tech bubble bursting, then increased costs of homeland security, then paying for Iraq, approved by Congress, paying for hurricanes evacuating 3 states, paying for floods, wildfires, tsunamis, paying for rebuilding the gutted military after Clinton. So I guess Obama would not have paid for any of these. And even if we went into Iraq based on wrong data, we were in and couldn;t leave with out a destabilized Iraq. So the costs would be paid anyway once we were in. And OBAMA will increase costs even more by moving more troops into Afghanistan. So Obama’s adminstrations will be another Bush for a few years since there doesn;t seem to be any alternative. He cannot leap tall building with a sing;e bound, he can’t part the red sea of debt, all he can do is increase the deficit. But with universal healthcare, carbon based taxes, and increased entitlement, he would have done that anyway,

Posted by: jschmidt | January 6, 2009, 9:15 pm 9:15 pm

Yes, exactly jschmitt . .. the Republicans grossly overspent despite their best attempts. Don’t be too quick to judge the new government – the country has been left in worse shape than at any time during the relatively prosperous early years of this century.

Posted by: pefros | January 6, 2009, 9:23 pm 9:23 pm

prefos- so if Dems had been in instead of Bush wouldn’t we be in the same shape as we are now since most of the things that happenned in the Bush years were not of Bush’s making? We would have still had tech bubble bursting, 9/11, subprime (since it was Bush who wanted to regulate Fannie and Franks stopped it), hurricanes would have happenned. So would the Dems have done anything different than Bush? Even the Dems in Congress, Cintons, Gore, Kerry all said we should go into Iraq. So if the Dems would have done everything the same as Bush, why are all of the leftys complaining about Bush.

Posted by: jschmidt | January 6, 2009, 9:29 pm 9:29 pm

Try not to make too many assumptions jschmitt . .. hypotheticals don’t stand up next to actual accomplishments.
Republican governments under Reagan, Bush one and Bush two vastly outspent Democratic administrations under Carter and Clinton – again, despite their claims they would introduce ‘smaller government’.
It’s too bad the Republicans couldn’t have just been honest with the public. We are going to grossly overspend and then we will make excuses for it …
Them’s the facts, your hypothesizing is just that.

Posted by: pefros | January 6, 2009, 9:40 pm 9:40 pm

for all of you complaining about obama
before he is even sworn in as president.
maybe one of the reasons obama won is on frontline right now, go see just what part of bushes legacy will be.
you will not be able to blame obama or clinton for this.
just remember, one of these days some friend or family of your will be in military or somewhere in the world and be tortured, because of some of the decisions of the us govt. over the last eight years.

Posted by: bush the usa | January 6, 2009, 9:43 pm 9:43 pm

if ever there was an empty suit in the white house, it has been during this past eight years.
cannot wait to see the backside of
george w bush.
the goal was to torture the detainee
“if the detainee dies, you are doing it wrong”
george bushes library will be a
house of horrors

Posted by: bush the usa | January 6, 2009, 9:47 pm 9:47 pm

prefos- perhaps Clinton didn’t spend too much because he didn;t have to. No wars, gutted military, record tax revenue because of the tech bubble, no major diasters, he embraced rollback of Glass-Stegal. When comparing Presidencys you need to be careful. Bush’s is more comparable to FDR. FDR did many things as President that would have been considered an abuse of power. He way overspent and funded a war. A much more comparable analysis than Clintons cakewalk.

Posted by: jschmidt | January 6, 2009, 9:57 pm 9:57 pm

prefos- I do agree with that Republicans did not deliver on smaller govt. But considering all that happenned during the Bush term in economics it might have been difficult to go smaller. He created Homeland Security a brand new department. I think many have been over critical and my point is that a Democratic administration facing the same economic hurdles as Bush would not have done much different. We will never know and historians will be the judge. We can only go forward from hear and let’s hope Obama’s path will make the recession short. But Pelosi really scares me. Thanks for the civil exchange of views- still hard to come by in blogs. We agree to disagree.

Posted by: jschmidt | January 6, 2009, 10:01 pm 10:01 pm

bush just read the line
“bush is more like fdr”
he asked me to write he just read it
because right now he is rolling on the floor laughing at that sentence.
he just came up for air, and said, the american suc,i mean people, you gotta luv em

Posted by: bush the usa | January 6, 2009, 10:04 pm 10:04 pm

if these guys do not need to be convicted for war crimes,
no one will ever be convicted of war crimes again.
the bush govt. has declared to the rest of the world “open season on torture”
and don’t think the chickens will not home to roost

Posted by: bush the usa | January 6, 2009, 10:08 pm 10:08 pm

Obama said ::: “We are going to stop talking about government reform, and we’re actually going to start executing.”
But all of Obama associates are corrupt.

Posted by: rattler snake | January 6, 2009, 10:28 pm 10:28 pm

Bush will go down in history as the a president who had the bravery and COURAGE to go after the cowardly terrorist who destroyed our country’s freedom by flying fully loaded passenger airplanes into the world trade center.
Much opposition from scum Democrats and cry baby liberals who also tried to sabotage American freedom by preventing President Bush making America safe again for political gain.

Posted by: Obama is a DOG | January 6, 2009, 10:39 pm 10:39 pm

Everything Obama….good.
Everything Bush…..bad.
But everything Obama is, for the
most part, is Clinton….see appointees.
Bush…bad.
Retro Clinton…good. Change we can
believe in. But who needs Obama?

Posted by: grizzly bare | January 6, 2009, 10:40 pm 10:40 pm

Obama. Democrat Government.
Trillion dollars promised over budget. And Obama has not even been sworn in.
BUT THATS OK HIS HAS A COOL CHISELED CHEST. That’s why I voted for him

Posted by: pefros | January 6, 2009, 10:42 pm 10:42 pm

Bush will go down in history as a president with courage.
Obama will go down in history as the first black president even if he is the worst president in history.

Posted by: grizzly bare | January 6, 2009, 10:53 pm 10:53 pm

We are attacked by terrorists and Democrats respond not with courage but with a way to use this attack for politcial gain by preventing out leaders making America safe again.
I still remember Obama saying the SURGE in Iraq will end in disaster and all the liberals cheered

Posted by: grizzly bare | January 6, 2009, 10:57 pm 10:57 pm

I still remember Obama saying the SURGE in Iraq will end in disaster and all the liberals cheered.
Yes they cheered because they wanted America to lose in defeat and wanted America to be overrun by terrorists.

Posted by: pefros | January 6, 2009, 11:00 pm 11:00 pm

The minute that Obama defaults on
his promise to “protect the middle
class”, his slavering minions ex-
pecting a life-long handout will
go after him with rusty can-openers.
Actually, that “minute” may take
years, but it will happen. This will
give Chelsea Clinton a few years
to season her political act and await
their adoration and votes.

Posted by: grizzly bare | January 6, 2009, 11:00 pm 11:00 pm

The minute that Obama releases one of them terrorists that Bush held captive and that same terrorist blows up an American school killing American children will be the same day Obama and his friends like AYERS will say MISSION ACCOMPLISHED>

Posted by: grizzly bare | January 6, 2009, 11:04 pm 11:04 pm

Representative Samples of U.S. Federal Government Deficits
Deficit under Gerald Ford (Republican)
$77 Billion (1976)
Deficit under Jimmy Carter (Democrat)
$56 Billion (1979)
Deficit under Ronald Reagan(Republican)
$283 Billion (1985)
Deficit under George HW Bush(Republican)
$432 Billion (1991)
Deficit under Bill Clinton (Democrat)
$118 Billion (2000)
Deficit under George W Bush (Republican)
$596 Billion (2002)
In every one of their governments the Republicans grossly increased the Government deficit. In every one of their governments, the Democrats reduced the level of the deficit.
And yet the Republicans repeatedly campaign on ‘smaller government’.
Seems like it would only be fair for it now to be the Democrats turn, and the Republicans oughta hush up about it. You’ve had your turns and we’ve seen what you done.

Posted by: pefros | January 6, 2009, 11:09 pm 11:09 pm

bush destroyed this country well atleast teh poor and working class have been destroyed and that will cost trillions to rebuild. i hate it but obama is right after all teh money bush ahs wasted that should have went to we the people we will have to spend now double to bring us back. thats what you get with republicans running things.

Posted by: T | January 6, 2009, 11:17 pm 11:17 pm

“In every one of their governments, the Democrats reduced the level of the deficit.”
Which policy you are disagreeing with? Is that what you are saying.

Posted by: BertieW | January 6, 2009, 11:31 pm 11:31 pm

“In every one of their governments the Republicans grossly increased the Government deficit. In every one of their governments, the Democrats reduced the level of the deficit.
And yet the Republicans repeatedly campaign on ‘smaller government’.
Seems like it would only be fair for it now to be the Democrats turn, and the Republicans oughta hush up about it.”
I’m saying this time the Democrats can (and will have to) do exactly what the Republicans consistently did previously. So no hypocrisy from the right wing Republican crowd.

Posted by: pefros | January 6, 2009, 11:38 pm 11:38 pm

But presumably you disagreed with it when the Republicans did it, so now you must super disagree when Obama is going to run multi-trillion dollar deficits.
That’s what I took away from your table.

Posted by: BertieW | January 6, 2009, 11:43 pm 11:43 pm

Simply stating the facts about Republican and Democratic spending.
All the Republicans have ever done (if you review the figures) is grossly overspend.
Now it is the Democrats turn. Fair is fair. The Republicans cannot have all the greed.

Posted by: pefros | January 6, 2009, 11:46 pm 11:46 pm

And having been so consistently greedy with their overspending of the public’s money, the Republicans can now shut their mouths about Democratic spending in tough times.

Posted by: pefros | January 6, 2009, 11:48 pm 11:48 pm

That doesnt make sense- Obama gets to blow money with no oversight because its fair?
Either you are endorsing all the past Republican actions or you are repudiating them, in which case since Obama is the ne plus ultra, you must disagree with him most of all.

Posted by: BertieW | January 6, 2009, 11:51 pm 11:51 pm

Yeah, the Republicans have set the standard for overspending and they have no reason or right to be criticising Obama or the Democrats.
It’s the Democrats turn. At least some of this money might make it into the health care, education of ordinary americans and improve the environmental industrial approach instead of lining the pockets of the friends of the Bush and Cheney crowd – big oil, bankers, military/industrial complex . ..

Posted by: pefros | January 6, 2009, 11:57 pm 11:57 pm

I fixed the table for you.
Deficit under Dem House and Senate
$77 Billion (1976)
Deficit under Dem House and Senate
$56 Billion (1979)
Deficit Dem House Rep Senate
$283 Billion (1985)
Deficit under Dem House and Senate
$432 Billion (1991)
Deficit under Rep House and Senate
$118 Billion (2000)
Deficit under Dem House Split Senate
$477 Billion (2006)

Posted by: BertieW | January 7, 2009, 12:05 am 12:05 am

Okay, let’s start with the lies -
109th Congress (George Bush deficits):
REPUBLICANS held a consistent majority in congress
(Jan 2005 – December 2006)

Posted by: pefros | January 7, 2009, 12:14 am 12:14 am

When Jimmy Carter was reducing the deficits after Gerald Ford
95th congress
Democratic majority in Senate and the House

Posted by: pefros | January 7, 2009, 12:24 am 12:24 am

Start with why its now a good idea to have deficit spending many multiple times what you apparently deplore with a rubber stamp Congress funneling slush funds to their pay for play brethern.
Because you know that what is going to happen. On an unprecedented scale. We see with Blago, Rezko, Richardson, Longstreet etc. that as soon as these politicians has money funneling through their hands they find a way to get remunerated.

Posted by: BertieW | January 7, 2009, 12:24 am 12:24 am

When Clinton began reducing the deficits after George HW Bush . …
103 Congress
Democratic majority House and Senate

Posted by: pefros | January 7, 2009, 12:27 am 12:27 am

Bert I think it’s worthwhile pointing out the during all of the George W. Bush gross overspending I list below . .. Republicans held the majority in the House and the Senate for most of that time, with a split of Senate in first term . ..
Here’s how the Republicans ran the government then . ..
REPUBLICAN GOVERNMENT
$421 Billion OVER BUDGET (2002)
$555 Billion OVER BUDGET (2003)
$596 Billion OVER BUDGET (2004)
$554 Billion OVER BUDGET (2005)
$574 Billion OVER BUDGET (2006)
This of course is RECORD overspending.

Posted by: pefros | January 7, 2009, 12:35 am 12:35 am

Give the new guy a break. ‘Right wing’ Republican types on here try to demonize him – and it’s complete hypocrisy given the Republican record.
America should have more intelligence.

Posted by: pefros | January 7, 2009, 12:39 am 12:39 am

See this is where you are blinded.
If you are apportioning credit that way then you would credit 103 with 87.1B in Surplus and the subsequent Republican Congress with 493.4B in deficit reduction.

Posted by: BertieW | January 7, 2009, 12:46 am 12:46 am

No, what I said is true. Clinton and a Democratic majority in both the house and the senate began reducing the size of the deficits reached by George HW Bush.
That is true. And that was clearly Clinton’s stated goal. And he continued that with Republicans in the House.

Posted by: pefros | January 7, 2009, 12:55 am 12:55 am

On the other hand, when George W. Bush took power in 2001 with a Republican majority in the House, the deficits immediately began to skyrocket and did not stop.

Posted by: pefros | January 7, 2009, 12:57 am 12:57 am

DEFINITELY NO SURPRISE (read the post regarding Burris and Blagojevich)….
First Obama increases the deficit, then he’ll promise to reduce it while running for another term…
Priceless ;).

Posted by: KeepDChange | January 7, 2009, 12:59 am 12:59 am

Give the new guy a break. ‘Right wing’ Republican types on here try to demonize him – and it’s complete hypocrisy given the Republican record.
America should have more intelligence.

Posted by: pefros | January 7, 2009, 1:00 am 1:00 am

But where is the context?
Would Clinton have had the ability to slow the rate of spending growth without the Peace Dividend from Reagan? Would Welfare have been reformed without the Republicans? Of course not. Its not sensible to apportion 100% of the credit to Clinton.
Wouldnt any administration have had a massive revenue decrease and spending increase after 9/11?

Posted by: BertieW | January 7, 2009, 1:03 am 1:03 am

“Wouldnt any administration have had a massive revenue decrease and spending increase after 9/11?”
Well, not if they didn’t declare a war on a country unrelated to 9/11 and start spending BILLIONS of dollars per week on it!

Posted by: pefros | January 7, 2009, 1:05 am 1:05 am

So what would the situation in Iraq be right now? Would we still be sitting in the dessert with 100,000 troops waiting for someone to enforce the UN resolutions?

Posted by: BertieW | January 7, 2009, 1:08 am 1:08 am

Also, if you’re willing to forgive Bush, Cheney and their regime for that decision and the GROSS hundreds and hundreds of BILLIONS of dollars that cost – then you’re willing to cut Obama a little slack as he tries to pull back the nation from the almost complete economic turmoil currently being experienced.
Money to bomb the living bejesus out of somebody else’s homeland (primarily for neo-con ideological reasons), but no money for your own country? I’d say those values are skewed, arrogant and presumptuous.
Oh . . and wasteful and fiscally irresponsible.

Posted by: pefros | January 7, 2009, 1:11 am 1:11 am

Oh, and the U.N. inspectors were right . . . they found no evidence of WMD’s and there were no WMD’s.
Too bad Bush and company were too arrogant to cooperate – they had their own agenda. And it is still costing us BILLIONS of dollars per week.
Oh yes, and something like 70% of Iraqis think America is a piece of crap, should not have attacked and want them to go home.
That country is a complete mess.
Hussein was hung for killing 138 people after an assassination attempt on his life. How should Bush and Cheney and company be treated for the tens of thousands of lives they’re responsible for?

Posted by: pefros | January 7, 2009, 1:15 am 1:15 am

You are slipping off again without picking a course. Maybe no decision in 1993 is without consequences. Are you going to still have the embargo and the Oil for Food deal that Saddam was subverting? Are you still going to have a containment force in the dessert with inspectors being given the run around?
If nothing else its a good thing that Saddam is gone, the Iraqi people can move on, tens of thousands of terrorists have been killed and Iraq is now a moderating force in the region instead of a destabilizing one.
And before we go authorizing a decade long nightmare of financial tinkering like FDR got us into and Japan had, the GDP decrease in the 3rd quarter was 0.5 following a second quarter increase of 2.1%. Lets keep some perspective.
Obviously the huge bubble in gas prices and the liquidity problems cased by mortgage defaults were major economic drags. If Obama wants to build more pipelines and stop lending to non-credit worthy people I am right behind him.

Posted by: BertieW | January 7, 2009, 1:31 am 1:31 am

Ha now Saddam was a nice guy.

Posted by: BertieW | January 7, 2009, 1:35 am 1:35 am

I think that is arrogance of the worst kind Bert. The Bush regime decision on Iraq killed TENS of THOUSANDS of people, many Iraqi civilians. There is a huge debt to be paid for that . . . and oil won’t begin to make up for it.

Posted by: pefros | January 7, 2009, 1:37 am 1:37 am

The Bush regime decision on Iraq maimed hundreds of thousands of civilians.

Posted by: pefros | January 7, 2009, 1:42 am 1:42 am

And we get to go BILLIONS AND BILLIONS of dollars in debt, more and more every day. Smart thinking. Maim and kill hundreds of thousands of people in their homeland and bankrupt the country to China.
Who thinks up this crap?

Posted by: pefros | January 7, 2009, 1:45 am 1:45 am

Fasten your seat belts folks! All PEBO knows is political expediency! So we are in for a very bumpy ride to 2012! :(

Posted by: aware2u | January 7, 2009, 2:50 am 2:50 am

“… bankrupt the country to China.”
Hard to keep you straight. You are against the spending except when your guy does it.

Posted by: BertieW | January 7, 2009, 3:17 am 3:17 am

“The Bush regime decision on Iraq maimed hundreds of thousands of civilians.
And we get to go BILLIONS AND BILLIONS of dollars in debt, more and more every day. Smart thinking. Maim and kill hundreds of thousands of people in their homeland and bankrupt the country to China.
Who thinks up this crap?”
Too difficult to follow Bert?

Posted by: pefros | January 7, 2009, 3:27 am 3:27 am

I still dont get it. If you arent against the bankrupting part why do you keep bring it up?
I am kind of taking you at your word that bringing up these budgetary details meant you cared about them, not that it was just a passing fancy that you adopted to hector President Bush.
If you really believe that, then you cant justify Obama going on a spending spree. Your only justification is that its only fair that he get to put his name on a bunch of stuff???

Posted by: BertieW | January 7, 2009, 4:18 am 4:18 am

With all due respect pefros, I’m a Democrat who simply disagreed with the DNC candidate – I didn’t vote for McCain and ‘humphed’ when I selected Manchurian Candidate Obama. In MY opinion, Obama and McCain didn’t represent the best candidate for the presidency.
Therefore prefros, please don’t assume that my critical concerns regarding our President-elect reflect ‘Right-wing’ views. We are blessed to reside in the United States of America where we can have a difference of opinion regarding our leaders. I’m simply trying to keep my eyes and ears open while being bombarded by overly laudatory reports regarding our future Commander in Chief.
Believe what you wish, but after that DNC 2004 speech in Boston – I knew he was gunning for the presidency – I didn’t think it would be so soon; but since he reneged on not running in ’08….
…Let’s just say that it was money well spent, and Axelrod is his Senior W.H. ‘Adviser’ now.

Posted by: KeepDChange | January 7, 2009, 4:38 am 4:38 am

Bert I presume nothing about your views but have a hard time understanding why some of the simple and clear things presented seem so difficult for your obviously intelligent brain to grasp.
I did not want any the hundreds of billions dollars of debt we have incurred spent on killing or MAIMING hundreds of thousands of Iraqi civilians who had NOTHING to do with 9/11.
That was one of Bush’s great gifts to this country – the blood of hundreds of thousands of people on our hands and the amassing of BILLIONS and BILLIONS of dollars of DEBT to do it.
The hypocrisy and duplicity of the Republicans proclaiming themselves the guardians of ‘small government’ while repeatedly setting record deficit budgets and overspending disgusts me.
And – now that Obama and the Democrats are in power, it’s absolutely fine with me if they also spend record deficits – at least some of this money might be used to provide health care, education, more sensible energy programs and less environmental degradation.
You’ll soon be burning your Republican membership card.

Posted by: pefros | January 7, 2009, 5:59 am 5:59 am


Yeah, the Republicans have set the standard for overspending and they have no reason or right to be criticising Obama or the Democrats.
It’s the Democrats turn. At least some of this money might make it into the health care, education of ordinary americans and improve the environmental industrial approach instead of lining the pockets of the friends of the Bush and Cheney crowd – big oil, bankers, military/industrial complex . ..”

Posted by: pefros | January 7, 2009, 6:04 am 6:04 am

“It’s the Democrats turn. At least some of this money might make it into the health care, education of ordinary americans”
This is where I cant make sense of your approach. If you find something to be a negative, there is no ‘turn’ at doing it. Would you tell your wife it was your turn to crash the car?
You could imagine a system where ‘goods’ are prioritized against ‘ills’. For instance the Republicans could say “increasing spending is bad, but we need to fight AQ and the conditions of Global Terrorism. Saddam has to go. A primary purpose of the Federal Government is to provide for the common defense, therefor the ‘good’ outweighs the ‘ill’”.
I dont think you have tried to make a similar argument for Obama’s spending spree, other than to argue it his turn to do something bad. We already spend a lot of education- I am skeptical that x amount more will suddenly make a big difference. Likewise, the list of infrastructure project lines up (such as a Duck Park in San Diego) dont have enough apparent ‘good’ in them to offset the ‘ill’ of deficit spending.
Unless we have now completely abandoned the concept that the budget every needs to be balanced.
Supposedly there will be one week to look at the bill before people have to vote. Harry Reid doesnt even know the outlines of how much money is being requested right now. Thats ridiculous. If there is some argument, some spreadsheet somewhere that shows an eventual payback of the trillions through increased revenue I havent seen it. Where are the GDP growth projections? How are they supposed to be obtained through duck parks? There needs to be some justification for this Trillion dollar slush fund or the tax payer should just say no.

Posted by: BertieW | January 7, 2009, 11:58 am 11:58 am

It’s just amazing, isn’t it ? Hope and Change O, after years of the democrats whining Bush spent everything on the war, have declared TRILLIONS of dollars of deficit spending just ahead – before even entering office.
The worst part of it all is, the demcorats are going to hand TRILLIONS to their stock market pals and playas, all for their Union 401k’s and personal family and friends unnacountable total THEFT scheme, just like they handed it all to Pauslon, and in the back rooms cut all the deals for themselves and their business partners and voting groups, then publicly claimed outrage and total ignorance, and blamed it all on the guy carrying out another LAW BILL they wrote up and FORCED into law.
We’re seeing the END OF DEMOCRACY right now people, and we have the most slime filled lying con artist EVER about to take office.
As he speaks about hope and change, he declares tax cuts and breaks with a gigantic soaring national debt and deficit and TAKEOVER of the job market, the banks, the car industry, the public energy and water facilites- EVERYTHING.
THE NEW WORLD ORDER IS TOTAL COMMUNISM, NOT ONE WORLD GOVERNMENT.

Posted by: Slickico | January 7, 2009, 12:26 pm 12:26 pm

The Republicans under the Bush regime have left the country in such pitiful economic shape drastic measures are required – and nothing is guaranteed.
The best and brightest are being gathered under Obama (not show horse promoters) but still nothing is guaranteed.
What a mess the previous administration has left. Hundreds of billions of dollars of debt rung up killing and maiming other people on their own homeland – people who had nothing to do with 9/11. A gross and arrogant miscalculation which we are all paying for now.

Posted by: pefros | January 7, 2009, 3:03 pm 3:03 pm

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