By Ilargi: of TheAutomaticEarth
"discretionary budget freeze". . . . . 83% of the budget will not be affected at all by the freeze. . . . .the freeze will shave 2.5% off of the overall deficit. . . . .
I’d say you’d need to save at least 10 times the $250 billion to have any effect (not that that would suffice). . . . . he now urgently needs to come with a job creation plan that produces real results. And that will cost. A lot. Of money. That’s not there.
To get from the fake 10% unemployement figure to a real 5% figure, you need to add 400,000 jobs every single month for the next 60 months. Doing what? If created by Uncle Sam, with what money?
Mortgage rates are at a record low, the government buys and guarantees just about any and all loans in the market, gives $8000 premiums to buyers, and settles for a 3.5% downpayment. And in that environment, the November-December monthly drop in the number of existing homes sold was 16.7%, the biggest in over 40 years, in fact since records began. Now you ask yourself: how much more attractive can you make buying a home?
I happens to me quite often these days that when I read through the numbers, I see these images of Katrina in my mind's eye, but this time the destruction's nationwide, and there's nowhere to go, even as the country's going nowhere.
And everybody keeps having the wrong conversations. It’s no longer about how to return to prosperity, it’s about how to stave off mayhem, misery, hunger, violence. But that’s not what the president will talk about. And why, then, would his people? It's much more attractive to deny it all a while longer. And be as unprepared as you can be.
If you really want to know the whole awful truth instead of buring your head in the sand or blindly following "The One" into oblivion, click here.
Sadly, I agree with him 100%.
Sadly, I agree with him 100%.