As several recent surveys make clear, concern about deficits and debt is rising sharply. An NBC/Wall Street Journal survey conducted in early May showed that the share of individuals rating “the deficit and government spending” as the top priority for the federal government to address has jumped since January from 13 to 20 percent—second only to job creation and economic growth. According to Gallup, “federal government debt” now ties with terrorism for the top spot in perceived threats to our future well-being. It is entirely possible that we are reaching an inflection point in public attitudes that will force the political system to change course.
[….]
In plain English: the higher spending and public debt go, the stronger the economic case for fiscal restraint. At some point, serious deficit reduction ceases to be a green eye-shade exercise and becomes essential for sustainable economic growth. But when? After summarizing the grim prognosis for U.S. deficits and debt during this decade and beyond, Auerbach and Gale formulate the choice as follows:
“[P]olicy makers will need to decide when to cut off stimulus and start imposing fiscal discipline. Cutting off stimulus too soon could plunge the economy into a new downturn, as happened to the United States in 1937 and Japan in 1997. Letting stimulus run for too long could ignite investors’ fears and create a ‘hard landing’ scenario.”
Politics is one thing, real life is another… Some very sad news to report at WizBang Blog:
Hugh Slatery
Wizbang author Hugh Slatery, who published here as HughS, died suddenly Sunday evening. Hugh was 53 years-old, and is survived by his mother, his three children and their mother, two brothers, and a niece and five nephews.
I think it would be a good idea for everyone to say a silent prayer this night and into the week for the Slatery family and for everyone over at Wizbang Blog. May the Lord Jesus Christ be with those children, especially the oldest one.
Thanks to an advertiser who wishes to remain anonymous, cars and trucks on Arizona Highway 260 in East Central Arizona are driving by a billboard advertisement that recently went up, bearing President Obama’s face on what appears to be a mock U.S. $100,000,000,000,000 (One-Hundred Trillion Dollar) bill.
The billboard’s caption: “But Who Will Pay the Piper?”
Chuck Perrine of Jones Outdoor advertising in Tucson, Ariz., confirmed to CNSNews.com that his company created the 10 ft- by-40 ft. billboard, which he said “went up within the last month.”
Perrine said the sign is located “near Linden (Ariz.),” but said that the advertiser is “not interested” in disclosing any further information about his identity–or his reason for purchasing the ad.
It is a very good question to ask and you want to know the answer? That would be us, the American Tax Payer, that is whom will pay the piper for many years to come. After all the stimulus that the Democrats rushed out the door? It failed. Don’t believe me? Here’s the video proof: (H/T HotAir)
As all of us, who are right of Obama, said over and over and over; you cannot prime the pump of the economy — it is either there or it is not. Further more, the huge housing bubble burst and subsequent collapse of the stock market; which wiped out many people’s 401K’s, not just the rich — is living proof that you cannot socially engineer the economy. It works, but only for a season. Bubbles burst, and things come back to normal and people lose and sometimes lose big.
Hats off to the person who decided to put this up. Of course, in the lame stream media he will be denounced as some sort of evil racist or something….
President Barack Obama bluntly defended his administration’s response to the undersea gusher fouling the Gulf of Mexico on Monday, telling an interviewer he has met with experts to learn “whose ass to kick.”
“I was down there a month ago, before most of these talking heads were even paying attention to the Gulf,” Obama told NBC’s “Today” show in an interview scheduled to air Tuesday. “A month ago I was meeting with fishermen down there, standing in the rain talking about what a potential crisis this could be.”
A variety of critics have accused Obama of being too cerebral in his reaction to the undersea gusher now fouling the Gulf of Mexico, of failing to put the full force of the administration and of putting too much trust in oil company BP. But Obama told NBC his deliberations have been more than academic.
Hmmmm, perhaps maybe The President should try starting in his own cabinet? Maybe he should startwithhimself? After all, he is a pretty skinny guy, I just wonder if he is double jointed?
One of the Kalamazoo Central students — who was seated behind keynote speaker President Barack Obama during Monday night’s commencement ceremony — fell asleep.
The student, who earned such a prime seat by singing in the choir, was captured on video due to his proximity to the president. He also was a hot topic on Twitter and the subject of several recently created Facebook pages.
Our video, at left, shows the student yawning and fighting to stay alert. At one point, he leans back, only to jump alert and join in during applause. The student then leans forward and appears to nod off.
Man, if that is not a good video for someone running against Obama in 2012, what isn’t? Anyways, Yes, Kid, we feel your pain. Poor guy just was up late and had to get up early and listen to the President tell how wonderful he is. It can make for some pretty heavy eyes!
Dutchman Joran van der Sloot, long the prime suspect in the 2005 disappearance of a U.S. teen in Aruba, has confessed to killing a young Peruvian woman in his Lima hotel room last week, a police spokesman said.
Peru’s chief police spokesman, Col. Abel Gamarra, told The Associated Press that Van der Sloot admitted under police questioning Monday that he killed 21-year-old Stephany Flores on May 30.
According to La Republica newspaper, Van der Sloot told officials he broke Flores’s neck in a rage after he discovered she had used his notebook computer without permission and learned he was involved in the disappearance of Holloway.
“I did not want to do it,” La Republica quoted him as saying. “The girl intruded into my private life.”
I have no problem believing that this tool killed Natalee Holloway and covered it up. This time he was not so lucky to be able to cover it up. Throw the book at the bum and lock him away for good.
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