The one-day increase for June 30 totaled $165,931,038,264.30 – bigger than the entire annual deficit for fiscal year 2007 and larger than the $140 billion in savings the new health care bill will produce over its first 10 years. The figure works out to nearly $1,500 for every U.S. household, or more than 10 times the median daily household income.
Daily debt calculations jump and fall, and big shifts are common. But all three of the biggest one-day debt increases have occurred under the tenure of President Obama, and all of the top six have been in the past two years – an indication of just how quickly the pace of deficit spending has risen under Mr. Obama and President George W. Bush.
This sort of spending would not be possible without a central bank that can create money out of thin air and loan it to Congress and charge interest on it. And the more money Congress and the Fed create, the more inflation there is, and the less the dollar is worth.
This is exactly what we do not need in the middle of an extreme recession. But until some congressmen get a spine or some voters learn a little more about proper government, it’s an inevitable spiral downward until the next crash.
Returning to the Constitutionally mandated gold standard would quickly put an end to all this irresponsible spending.
via U.S. marks 3rd-largest, single-day debt increase – Washington Times.
The Illegitimate President nominated a certain enthusiastic marxist named Dr. Donald Berwick to be czar over rationing of health care in America. Berwick despises the free market, which means he utterly abhors the idea that people should choose what is best for themselves and their situation, and believes that only government regulators should decide which treatments are available, and who should receive care.
Berwick explained that there are three steps to “comparative effectiveness research.” The first is to determine whether a therapy works or not. The second is to determine how well the therapy works compared to other therapies. The third is to do a cost-benefit analysis.
“If a new drug or procedure is effective, and has some advantage over existing alternatives,” Berwick said, “then does the incremental benefit justify the likely additional cost?”
Now, in a free country where people freely chose to pay for their own health care with their own money, this is a good question for any prudent consumer. It is exactly that “free market force” that Berwick implored the British socialists not to put their faith in.
But in a country where the government has taken regulatory and fiscal control of the health care system—where the state is subsidizing most people’s care—and where government bureaucrats make the decisions about who gets what treatment, this question is not the animating moving force behind the invisible hand of the market, it is the dark materialistic spirit behind the iron hand of a life-and-death tyranny.
Berwick went on to say, “any health care funding plan that is just must redistribute wealth.” Meaning, of course, the wealth must be redistributed to the government which pays for the care. You and I will be taxed into poverty, with the hope that this will make us more reliant and subservient to our bureaucratic overlords.
via CNSNews.com – Obama Names Rationing Czar to Run Medicare.
I do believe that unlike myself and my administration, everyone in the Illegitimate President’s administration is bound and determined to impoverish America, destroy the economy, boost unemployment, and so on and so on.
The Obama administration’s top science advisor, John Holdren, was caught on tape advocating for global wealth redistribution back in 2008. In this clip, unearthed by Eyeblast.tv, Holdren says that we should use tax revenue from a cap and trade type bill to pay other countries in the global south.
