No, I wasn't happy about the deficits of the past 6-8 years and hoped we'd shrink the deficit over time. That was happening till the last year. However if anyone was outraged over those deficits, why wouldn't they be even more outraged over deficits 4, 5 or more times as large now?
I think it seems hypocritical to rage over $400M deficits but think $2 trillion deficts are perfectly okay.
Its not just a matter of outrage now. Its fear. We're heading for a $2 trillion deficit this year - so far. But Congress hasn't addressed the UAW bailout yet, Geithner hasn't got his banking bailout plan done yet. And Congress, utterly unrestrained, will be back at the trough again and again and again. We just saw a $800 billion bill. Turn around and a week later, we've got a new $410 billion bill chock full of earmarks being sold. Will we have another multi-billion dollar bill every month under this new regime? I don't think they're gonna stop till the buyers of Treasury securities revolt. We could be looking at the destruction of our currency. Will Obama go along with whatever the braindead dinosaurs, Pelosi, Reid, Waxman, etc come up with? |
