Let's hope so. Send a message... "Odumbo, we REJECT everything you say and everything you are. Please resign immediately for the good of America"...
Ovomit had nothing to say. He is totally inept. Hillary needs to challenge him just to bust the smugness out of him.
I've come to believe the Constitutional requirement to be POTUS should also include having been a governor of a state. The President should have the experience of having to cope with a BUDGET.. one which does not have the latitude of "spending more than you have to promote your personal agenda"... Odumbo has demonstrated time and time again... he's a greedy little bastard... trying to promote his own personal agenda... AT UNCONSCIONABLY HUGE EXPENSE TO THE COUNTRY.. and doesn't "have the chops" for the job. (Not that we can presume Romney, Perry, Kerry, Hilary or any other actually does have the chops... be we know for sure.. ODUMBO DOES NOT!) If he cared about the future of America, he would resign immediately.
Yeah this most likely had to do with rumours that greece might default this weekend. Futures fell off a cliff at about 9:00 this morning when the rumours came out.
It's interesting, isn't it? You're in debt, so you cut spending (austerity) and... you go further into debt! People don't get their heads around this because they think of government and business finance in terms of household bookkeeping.
Not all that interesting IMHO. Everyone who understands economics knows there is a multiplier effect, same thing would have happened if they raised taxes a whole bunch. You never end up getting 100% of the deficit reduction you desire out of a tax increase OR a spending cut, because if you cut spending by "X" amount you take in less tax revenues, and if you increase taxes by "X" amount you take in less taxes then you would have had that money went into the economy. Thats what makes these deficits even scarier. Even if we were to cut 1.5 trillion dollars from the budget, or raise taxes by 1.5 trillion dollars we would not even be close to being squared away, we would probably end up needing another 700 billion after that then another 300 after that and so on and so forth. That is why it is absolutely essential to get this inline before it gets any worse.
Greece has no control of the Euro. They released their sovereignty to print money to Germany. When you do not run the money presses, austerity is just like a household running its finances. Spending less means less. When you have not released your soverignty and still have the power to print the money... a balanced budget can lead to an economic expansion as businesses begin to anticipate better economic times because the govt is not strangling the economy. People have to get the heads around the reality of the marketplace and that govt spends money very inefficiently.