Wednesday, October 13, 2010

It's the spending stupid - Part 111

Just in case there is any doubt about why the American people consider One Party Democratic rule to be fiscally frightening, economically irresponsible, and are apparently poised to hand them a stunning, historic, midterm defeat - The CBO released the latest spending and budget numbers last week. From the Wall Street Journal:
"Perhaps you missed it, but then so did the Washington press corps. Late last week the Congressional Budget Office released its preliminary budget tallies for fiscal year 2010, and the news is that the U.S. government had another fabulous year—in spending your money... Once again domestic accounts far and away led the increases. Medicaid rose by 8.7%, and unemployment benefits by an astonishing 34.3%—to $160 billion. The costs of jobless insurance have tripled in two years. CBO adds that if you take out the savings for deposit insurance, funding for all "other activities" of government—education, transportation, foreign aid, housing, and so on—rose by 13% in 2010.

As for the deficits, the 2010 total was $1.29 trillion, down slightly from $1.42 trillion. That's a two-year total of $2.7 trillion, or more than the entire amount during the Reagan Administration, when deficits were supposed to be ruinous. Now liberal economists tell us that deficits are the key to restoring prosperity. But all we have to show for spending nearly 25% of GDP for two years running is a growth rate of 1.7% and 9.6% unemployment...

The 21.4% federal spending increase in two years ought to put to rest any debate about the nature of America's fiscal problem. The Pelosi Congress has used the recession as an excuse to send spending to record heights, and its economic policies have contributed to a lousy recovery. The solution is to stop the spending and change the policies. Polls open on November 2."
You'd think it would be as obvious to the Democratic leadership and party faithful as it is to the American people that flawed policies and batshit insane spending are the prime cause for their impending electoral disaster. Instead, Democrats continue to delude themselves that the election is about crazy Republicans, stupid Republicans, Republicans with too much money, flawed messaging, and Democrats just not attacking business enough.

Sorry Andy, It is not the stupidity, stupid. Maybe it will be in 2012 when the GOP has found new ways to alienate the electorate, but for 2010 - there is no doubt: It's the spending stupid.

It is too late for Obama and Democrats to get religion now and salvage the 2010 mid-terms. But perhaps it is not too late for Obama to salvage his presidency.

UPDATE: Some Democrats get it.

Divided and Balanced.™
Now that is fair.


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