Obama: "We'll just go to eleven.."
To no surprise, the U.S. jobless rate has remained constant, at 9.1%. After almost three years of his Presidency, it has become apparent that Barack Hussein Obama is little more than a pleasant media whore, a man who appears intent on getting as much face time on television to "talk, talk, talk", but who, at the end of the day, is alarmingly short on any action to come to the aid of millions of Americans currently out of work in a struggling economy.
Why do I care, and why should you? Well, because every dumb thing the sleeping giant down south does, impacts us. Significantly. And right now, well, they are a mess.
And true to his liberal leanings, Obama's response has been to blame the previous administration, to blame the Republican party, and to blame essentially, everyone who IS paying taxes in the United States for not paying more.
And now, apparently, his desperate solution to
Of course, according to Barack Obama, the idea of worrying about increasing the U.S. Debt is a "manufactured crisis". This sort of flies in the face of almost every economist the world over, however, including European Central Bank policymaker Juergen Stark who, in a report published in liberal media stalwart, CNBC, commented that "the United States had an "enormous" debt problem and lacked the structures to get the problem under control."
While you are processing this last comment think about this chart:
To use the vernacular, on a scale of one to ten, the U.S. deficit is already at a "10".
The U.S. federal debt at present is at over $14.6 Trillion - effectively at a "10".
The U.S. combined corporate tax rate is the second highest in the OECD, at 39.21% - effectively at a "10".
And Obama's answer? He wants to go to "Eleven".
His rationale, apparently, was disclosed in this recent interview given between President Obama and Rachel Maddow:
Obama: We'll just push the budget deficit to eleven, and the national debt to eleven, and increase corporate taxes to eleven..
Maddow: Oh, I see. But most analysts say that they are already at a "10".
Maddow: Well, doesn't that mean that it's already as high as it can go? How can it go higher if it's already at a "10"?
Obama: Well, it's one higher, isn't it? It's not ten. You see, most countries, you know, will go up to a "10". They're at 10 there, all the way up, all the way up.. they're at ten. Where can you go from there? Where?
Maddow: I don't know.
Obama: Nowhere. Exactly. What we do is, if we need that extra push over the cliff, you know what we do?
Maddow: Put it up to eleven?
Obamal: Eleven. Exactly. One higher.
Maddow: But if you're already at a "10", and can't go any higher, why don't you reduce spending?
Obama: [pause] We go to eleven.