White House National Economic Council Director Gene Sperling uses his very best ObamaSpeak to explain how a spending freeze is actually a spending cut.
What Sperling obviously doesn’t understand is that a spending cut would be just dandy with most Americans.
This post was last modified on February 9, 2011
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lesson for the time - Woe to them that call evil good, {a} and good evil; that put darkness for light, and light for darkness; that put bitter for sweet, and sweet for bitter!(a) Who are not ashamed of sin, nor care for honesty but are grown to a desperate impietyAnd a lot of people think the Jesus bible is not speaking for our time.Isaiahh 5 - 20
Amen, tommy. Amen.
Curtis
The regime is paying financial analysts and economists many millions of dollars to figure this stuff out and you come up with the solution in 2 paragraphs. Something must be wrong. Oh I know, you have held a real job and actually paid your own bills unlike the members of the regime. Obviously you could never qualify for a guvmit job with those qualifications. Having common sense would immediately disqualify anyone.
I tried an experiment, to see if spending really could dig me out of a hole.
I currently owe $404 on my credit card. I pay it off in full each month, but that's besides the point. I went on a $100 shopping spree. I went to the grocery store and spent $56.43 for food for the next few weeks. Drove over to a local sports supply store to pick up some thermal socks. Another $24.99. Finally, I went to the book store to pick up a Tom Clancy book. $9.99. Grand total spending for the day? $91.41. I put all of this on my credit card. I checked my balance today, and wouldn't you know? I now owe $491.45......But I though spending would dig me out of the hole?
I don't know what the morons in Washington are smoking, but the only way to pay off debt is to quit spending and put that money towards paying it off. And the more aggressive you are paying off debt in the beginning, the quicker you pay off the loan. At the beginning of a loan, most of the payments go towards the interest. But the more you pay at the beginning, the more the principle goes down, which results in less interest, which results in more principle payed, which results in less interest each month.
Remember when President Obama said we need to "dig ourselves out of this hole." I've never seen this done, so maybe someone can enlighten me. I've seen folks crawl out of a hole; I've seen folks climb out a hole; I've even seen folks jump out of a hole. How hard is it for anyone with more than a first grade education to understand that if you are in a hole, the best way to get out is to stop digging?