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I have an idea; let's borrow enough money to pay off every mortgage in America, then raise everybody's taxes the equivalent of a house payment
Barack Hussein Obama might be the dumbest man ever to stand behind a podium bearing the Official Seal of the President of the United States of America.
Obama has no understanding of basic economics. He lacks any knowledge of the Great Depression. He seems to actually believe that the New Deal significantly reduced unemployment. (It did not, for those of you in blue states.)
Here’s the deal. A guy on the local Fox radio affiliate–a guy who should know better–said that he read that the government has borrowed or obliged $9.2 trillion so far in the past 3. 5 months, which is enough to pay 95 percent of the mortgages in the US. So this radio host–who should know better–said, “so why not do it? Bring it on. Pay off our loans. We’ll spend that money on the economy.”
If the government borrows $9.2 trillion on 30 years notes, it will levy taxes to pay off $9.2 trillion over 30 years. So, if the government pays off your home loan, it’s not a debt forgiveness, it’s a refinance. The only thing is, banks are far more lenient about paying on time than the IRS is. And the government will not allow you to sell or refinance.
Wake up, you bank-benchers. This guy can’t spit an English sentence without at least a dozen “duhs.” A simple question about Iran stumped him. A simple question about the wisdom of tripling the deficit received a terse, angry, “my IQ’s higher than yours” answer. He’s an IDIOT. A Marxist, community organizing IDIOT. Who inherited all of the problems. As if NO ONE TOLD HIM THE ECONOMY WAS IN THE TANK before he became president.
If the job of POTUS is damn difficult, why didn’t he throw the election like McCain did?
Barack Obama should resign tomorrow, take basic courses in business, economics, geography, history, and strategy, then run again after he has a high schooler’s understanding of these subjects.
And “saving” 4 million jobs is the weaseliest promise I’ve ever heard. That means, if a year from now only 4 million people have jobs, he can claim he was right to piss away a trillion dollars of our money.
And another thing, credit is not the life-blood of our economy. Commerce is. Spending cash is far better than borrowing. We borrowed our way into this mess; we can’t borrow our way out of it. He’s trying to refi the US government. IDIOT.
And stop telling us that people will have more money after he borrows another trillion. They will have less. Someone has to pay that note, and the only people who can are you and me. We’ll pay through taxes or through inflation, but we will pay.
Who voted for this idiot? Good God, you people. Get rid of this moron. Hire a real president. I’m going to listen to Mark Levin. At least he knows what the hell he’s talking about.
And fire these traitors, you people in Maine and Pennsylvania! Elect real Republicans.
UPDATE 7:43 CST: “I met with uh members uh um family of uh people lost on uh uh nine-eleven.” He forgot about the USS Cole already. IDIOT!