They Must Think We’re Stupid

The nation’s budget deficit will drop to $205 billion in the fiscal year that ends in September, less than half of what it was at its peak in 2004, according to new White House estimates. Deficit Falls To $205 Billion

Unbelievable.  All of it. The lies, spin, fabrication, incessant brainwashing. We’ve come to expect no less of course. But you’d have to be brain dead to believe this.

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One thought on “They Must Think We’re Stupid

  • July 11, 2007 at 12:11 pm
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    Using corporate style accounting practices, as shown in USA Today (about as mainstream, middle of the frickin’ road as publications come), this lie was easily exposed several weeks back.
    Actual budget deficit was $1.3 trillion last year, not the published $248 billion.
    http://www.usatoday.com/printedition/news/20070529/1a_lede29.art.htm
    So next year we’ll only spend $1.2 trillion more than we have…..ah, so much better! =P

    Plus, this is a the amount being added to the compounding deficit (translation, yes, they’re going to spend more than they have again next year). Your personal share is now nearly $150,000. It will never be paid off, taxes would have to rise from the near 50% we all pay presently (state, federal, local, sales, property, various fees and addons, permits, etc…medieval serfs actually had to work less to satisfy their lords) to near 90%. Unsustainable.

    Predictions:
    1) The government will never pay off their debt, and will continue to borrow nearly $3 billion dollars a day, mostly from foreigners so long as they can get it.

    2) Money will continue to be created via credit, borrowing it into existance, and the running of the press. Total federal credit has increased by over 100% since 2001.

    3) As a result of this credit expansion, and increasing lack of faith in the US and all things American (we are fast becoming a pariah nation, that drunk and abusive father everyone tries to stay away from but still can’t ignore), the ‘bonar’ (as iTulip calls that instrument of debt based fiat script) will continue to devaluate (having lost 97% of its value since 1913, and nearly half its value since 2000.

    4) Inflation, “the hidden tax” as Thomas Jefferson called it, will continue unchecked, and even increase, yet continue to be underreported by TPTB, and will continue to steal wealth right out of your pocket and your savings. According to some (Shadowstats, Grandfather report, Financial Sense, von Mises Institute), it is presently running around 11% annual.
    Who got an 11% raise this year? Any hands? No? Not surprising, since the average 35-year old American makes less and is worth less (total assets-debts), today, than they were in 1970 (in inflation-adjusted dollars). No wonders the average savings rate has been negative for 21 consecutive months (last time there was a negative rate was during the depths of the Great Depression, and even then not for this long).

    5) The end results:
    Continued wealth redistribution the from 98% of the population who works for a living or lives on fixed income to the 2% that create money/credit/wealth out of thin air, and are thus not affected.
    AND
    Monetization of the US debt, effectively inflating it away to a trivial value, since it will soon take $100000 reichmarks to buy a turnip.

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