Thursday, May 24, 2012

Barack Obama - #3915 - Victor Davis Hanson: The Power of Cool - National Review Online (2) Rush Limbaugh - Barack Obama: The Spending King (3) USA Today: Real FY 2012 Deficit is $5 Trillion - Hot Air

RUSH FEATURED THIS COMMENTARY ON HIS RADIO SHOW TODAY:
The Power of Cool - When Barack Obama two years ago joked at the White House Correspondents’ Dinner that potential suitors of his two daughters might have to deal with Predator drones (“But boys, don’t get any ideas. Two words for you: Predator drones. You will never see it coming.”), the liberal crowd roared. That failed macabre joke would have earned George W. Bush a week of headline condemnation from the New York Times and the Washington Post. Obama, in fact, has increased those judge/jury/executioner targeted assassinations tenfold during his tenure. .........Last week 28-year-old, $17 billion–rich, jeans-clad Mark Zuckerberg took Wall Street for a multibillion-dollar ride, making his original buddies instant billionaires and his loyal larger circle millionaires. Note that there is no Occupy Wall Street protest at Facebook headquarters. Just as there are none at Oprah’s house or the residence of Leonardo DiCaprio, despite their take each year of between $50 and $100 million.  Read more.........

Rush Limbaugh - Barack Obama: The Spending King - It's this story about how Obama's not really spending all that much money. Obama's probably the most fiscally responsible president we've had in 25 or 30 administrations. I mean, that's the story. Some guy named Nutting at MarketWatch. I thought MarketWatch used to be CBS. Now it's Wall Street Journal. This guy Nutting goes back and forth. He's got this big story out there that it's a myth that Obama's a big spender. The way he does it is to say that all the spending in 2009, which would include the stimulus, was Bush's because the budget for 2009 was Bush's, done in September of 2008. So Obama's first year is actually Bush's last budget. But Bush didn't budget the Porkulus. Bush didn't budget the second Porkulus. It's a trillion dollars of spending that this guy Nutting lops on to Bush and doesn't give to Obama. But that doesn't even cover what's going on here.......This statistic doesn't lie. Obama has added more to the national debt in three-and-a-half years than all the previous presidents combined. His deficits are more than all the previous presidents combined. How do you do that if you're not a record setting spender? So Obama and Carney, everybody in the regime, they know full well that they're the spending kings. And all of a sudden the story comes out and they point to it like first graders who have just been exonerated for not breaking the window. "See? He did it! He did it! I didn't do it. He did it." And so now they're out there defending this thing, and it can be easily refuted honestly and truthfully, which the Drive-Bys are not gonna do. The Drive-Bys are gonna pick it up and run with it.  Read more........

USA Today: Real FY 2012 Deficit is.....$5 Trillion - Hot Air - What would happen if Congress had to apply the regulations in Sarbanes-Oxley, Dodd-Frank, and other corporate accounting law to its own balance sheets? Instead of talking about trillion-dollar deficits, USA Today reports from its analysis, we’d be talking about five times that amount: The big difference between the official deficit and standard accounting: Congress exempts itself from including the cost of promised retirement benefits. Yet companies, states and local governments must include retirement commitments in financial statements, as required by federal law and private boards that set accounting rules. The deficit was $5 trillion last year under those rules. The official number was $1.3 trillion. Liabilities for Social Security, Medicare and other retirement programs rose by $3.7 trillion in 2011, according to government actuaries, but the amount was not registered on the government’s books.  Read more.........

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