September 16, 2008

Obama on the economic meltdown

7 comments:

Anonymous said...

McCain needs a terrorist attack or its all over

steely damn said...

Yeah right, he's like the consultant who borrows your watch, tells you the time of day, and then you get his bill for $1000. Obama needs an Econ 101 class too. He wants to spend $900B on new programs and pay for it with a $110B tax increase on the "wealthy".

Dumb asses all IMO.

Anonymous said...

I am voting for Obama. Steely damn you are voting for McCain..Good for you, but your ignorance is laughable.....

Anonymous said...

I am sure steely damn does not fit in the group that McCain wants to keep the tax cut for...Steely is not in the 1% of americans of wealth. Face it dude you wouln't be saying such stupid and uneducated comments. You sure wouldn't be reading AmericaPanic.

Frank@Scottsdale-Sucks.com said...

Here's an article reporting that Merrill and Lehman have contributed $3 million more to Obama than they have to McCain. In other words, Obama is now bought off and in their back pocket -

http://is.gd/2Idk

Your Bush Derangement Syndrome has really blinded you to the truth.

As Hitler said: "What luck for leaders that men do not think."

That one line explains why Obama actually has a chance of winning this thing.

steely damn said...

The math is really simple but it does involve some addition, so pay attention Obama fans. He says he will raise taxes for "the wealthy", households earning more than $250K a year and raise the cap gains tax to 20%. All told the treasury might get $110B a year more from these new taxes (some say it will be closer to $80B). Lets be optimistic and assume it will bring in $110B.

Now on the spending side, his social programs will cost over $300B a year, $100B a year for health care alone and $200B+ for the panoply of other new programs for housing, infrastructure, education, etc., etc. Add to that the $600B increases already cooked into the federal budget for interest payments, bailouts of banks, and Freddie/Fannie, the wars, etc., and you come up with $900B in new spending.

I'm not a Harvard graduate, but when somebody tells me they are going to spend $900B and cover it with income of $110B, I tend to be suspicious.

So duuude, tell me where I'm wrong here. Where's your messiah going to get the cash for all the new bling he's promising to throw around? I'm guessing his definition of "wealthy" might have to go a bit lower than $250K -- don't you think?

Anonymous said...

Buscho, McStain, and Benny's AIG bailout is going to send food and energy prices to the moon. Most of us can't afford to invest in gold or buy platinum. Just remember: A hungry mob is an angry mob. Obama is the lesser of the two evils.