GDP decline twice as bad as Team O predicted. It will not be a jobless recovery, but it will also be a growth-less recovery (i.e., contracting), and a recovery with tax hikes, rising unemployment, and inflation? Kinda like a depression?
“The first step is to stop making those deficits worse” by enforcing pay-as-you-go legislation so that “any new tax or entitlement” programs are paid for, and by adopting an overall of the U.S. health-care system that doesn’t add to the deficit, he said.
“I know there are going to be some who say this report proves we can’t afford health reform,” Orszag said. “I think that has it backwards,” because savings must be squeezed from the system.
Peter Orszag should be fired. Dear Leader’s projections on GDP are only off by a 133%, but he’s STILL got health care reform and cap and trade to take care of? Actually, they all should be fired.
This is Coward Piven Strategy at its best for forcing political change through orchestrated crisis. As we all know, POTUS and his top team of advisers understand this strategy well. Oh well, I’m sure that POTUS will blame Bush for his ineptitude.
MORE on the brilliance of Team Zero’s math.
I have confidence in Team O. NOT.
August 25, 2009 at 6:59 pm
However, Obama and Bernanke are joined at the economic hip, since both of them believe in fiscal interventionism, aka government spending out the wazoo.
Bernanke is a student of the depression, and like Obama he needs his crises as well in order to put forward his agenda.
The media needs to find a HUGE distraction from all of this or else the whole dadgum plantation is going to wind up outside their control. Videos are already surfacing of Michael Jackson sightings. This thing is getting weirder by the moment …
August 25, 2009 at 8:05 pm
More distraction, not enough to shut down the insanity.