Conservative Libertarian Outpost

“On Thursday the non-partisan Congressional Budget Office (CBO) announced the federal budget deficit for 2010 will exceed $1.3 trillion. This is already on the heels of a 2009 budget deficit of $1.2 trillion and on top of a national debt of some $13.3 trillion. The word ‘trillion’ seems to have, almost overnight, crept into our standard economic parlance and by the looks of it is here to stay. And with the CBO’s forecast of more than $6 trillion in federal budget deficits accruing over the next nine years from 2010 to 2019, many are logically wondering if the United States has effectively crossed, or is fast approaching, a virtual economic point of no return — an economic Rubicon if you will.” –columnist Matt O’Connor

“[P]rogressively over these three decades the Republican party has exempted every material component of the budget from cuts, including middle-class entitlements, defense, veterans, education, housing, farm subsidies, and even Amtrak! Like Casey, the GOP has been in the anti-spending batter’s box for 30 years, and has never stopped whiffing the ball. The final proof is that the one GOP spending cut plan with any integrity — the ‘roadmap’ of Congressman Paul Ryan — has the grand sum of 13 co-sponsors, and I dare say half would call in sick if it ever came to a vote.” –former Reagan budget director David Stockman

“Why isn’t the economy recovering? After previous recessions, unemployment didn’t get stuck at close to 10 percent. If left alone, the economy can and does heal itself, as the mistakes of the previous inflationary boom are corrected. The problem today is that the economy is not being left alone. Instead, it is haunted by uncertainty on a hundred fronts. When rules are unintelligible and unpredictable, when new workers are potential threats because of Labor Department regulations, businesses have little confidence to hire. President Obama’s vaunted legislative record not only left entrepreneurs with the burden of bigger government, it also makes it impossible for them to accurately estimate the new burden. In at least three big areas — health insurance, financial regulation and taxes — no one can know what will happen.” –columnist John Stossel

“[T]he conviction that government no longer works for the majority of Americans is spreading like wildfire. That nearly all of President Obama’s major policies have gone against public will is fueling voter anger across the nation.” –columnist Michael Goodwin

“Most elected officials cling to their ideological biases, despite the real-world facts that disprove their theories time and again. Most have no common sense, and most never acknowledge that they were wrong.” –economist Lawrence Kudlow

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Tags: Economy, election 2010, epic fail obama, News, Politics

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