The Daily Plunge

When my family contemplates a spending freeze we quit spending money. When Obama asks for a spending freeze what does it really mean? This is the President who spent trillions in his first year in office. This measly “freeze” is going to save $15 billion. At this rate, sometime around August 2076 the federal government will pay back the first trillion dollars. For those scoring at home the Federal Debt is approximately $12 trillion. It will take almost 800 years to pay off the debt by saving $15 billion a year.
The President will try to make up some new taxes to add to the $15 billion a year. Thanks to the Bush administration pretty much only working people are paying taxes. Heck, even people who aren’t paying taxes got some kind of rebate. Obama wants to tax banks because everyone hates banks. Plus, most people are too stupid to realize that the banks will only pass the tax on to loan consumers.
Obama’s biggest hurdle in getting reelected in 2012 is the economy. If the President decides to tax banks and crack down on Wall Street the investor class will stop investing. Perhaps the President is too much of a naïve ideologue to grasp how the economy works. If this is the case this presidency is headed for catastrophe.
I said a few days ago Obama would move to the center. The “spending freeze” is the first attempt to do so. Will Americans really be convinced that this is a step in the right direction?