How Can You Tell She’s Lying?

Her lips are moving.

Well, how’d that promise work out?

Debt Has Increased $5 Trillion Since Speaker Pelosi Vowed, ‘No New Deficit Spending’

When Rep. Nancy Pelosi (D-Calif.) gave her inaugural address as speaker of the House in 2007, she vowed there would be “no new deficit spending.” Since that day, the national debt has increased by $5 trillion, according to the U.S. Treasury Department.

“After years of historic deficits, this 110th Congress will commit itself to a higher standard: Pay as you go, no new deficit spending,” Pelosi said in her speech from the speaker’s podium. “Our new America will provide unlimited opportunity for future generations, not burden them with mountains of debt.”

Pelosi has served as speaker in the 110th and 111th Congresses.

At the close of business on Jan. 4, 2007, Pelosi’s first day as speaker, the national debt was $8,670,596,242,973.04 (8.67 trillion), according to the Bureau of the Public Debt, a division of the U.S. Treasury Department. At the close of business on Oct. 22, it stood at $13,667,983,325,978.31 (13.67 trillion), an increase of 4,997,387,083,005.27 (or approximately $5 trillion).

Pelosi, the 60th speaker of the U.S. House of Representatives, has added more to the national debt than the first 57 House speakers combined.

See also:
Over $5 trillion in new debt since Pelosi promised ‘No New Deficit Spending’
Under Pelosi, national debt has increased $5 trillion
Pelosi: ‘We haven’t really gotten the credit for what we have done’
Nancy Pelosi May Be Out Whatever Happens
Nancy Pelosi Who?
Pelosi: ‘If I were not effective they wouldn’t care about me’
Obama says Pelosi will go down in history as one of the finest speakers in US
Texas Democrat Edwards, a Pelosi lieutenant, runs from her

Ten days left.

/vote like your future depends on it, because it does

Pinocchiobama’s Nose Grows Again!

Remember that emphatic promise? Well, as with most of Pinocchiobama’s promises, it turns out that this promise was just so much bull[expletive deleted] too. Never mind that most of the existing taxes will be increasing at the start of 2011, Pinocchiobama’s got a brand new tax in mind to relive taxpayers of their hard earned income, so he can spend even more money the government doesn’t have.

Obama Floats a VAT: ‘It’s Something That Would Be Novel for the United States’

President Obama made it official today: He is open to the imposition of a Value-Added Tax (VAT) on the American people. A VAT would violate Obama’s central campaign promise – a “firm pledge” that no family making less than $250,000 per year would see “any form of tax increase“.

Obama’s admission came during an interview with CNBC’s John Harwood. Asked if he could see the potential for a VAT, the President said:

“I know that there’s been a lot of talk around town lately about the value-added tax. That is something that has worked for some countries. It’s something that would be novel for the United States. And before, you know, I start saying ‘this makes sense or that makes sense,’ I want to get a better picture of what our options are.”

Obama’s VAT admission may explain his recent attempts to alter the terms of his central campaign promise.

Twice in the past two weeks, Obama has claimed his middle class tax pledge only applied to income taxes rather than “any form of taxes”.

In his April 10 Weekly Radio Address, Obama said:

“And one thing we have not done is raise income taxes on families making less than $250,000. That’s another promise we’ve kept.”

In a speech on the evening of April 15, Obama repeated the truncated promise:

“And one thing we haven’t done is raise income taxes on families making less than $250,000 a year — another promise that we kept.”

The two recent statements stand in stark contrast to Obama’s original promise:

“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes.” (Dover, NH) [Transcript] [Video]

The Obama VAT admission also comes the day after White House economic advisor Austan Goolsbee refused six consecutive opportunities to permanently close the door on a VAT and two days after White House spokesman Robert Gibbs said a VAT “is not something the President has proposed nor is it under consideration.”

See also:
Obama suggests value-added tax may be an option
Barack Obama Leaves The Door WIDE Open For A VAT Tax
Obama suggests value-added tax may be an option
Obama: Value-Added Tax A “Novel” Idea
Key Player on Debt Commission Says VAT in the Mix
Will the VAT Lady Sing?
The VAT Is Obama’s License to Spend
Will They Take ‘No’ As Answer To VAT?
Sales-tax idea meets with a bipartisan no
Value added tax (VAT)

So, there it is America, yet another big Pinocchiobama lie that’s going to cost you your hard earned money. You can’t trust anything that comes out of Pinocchiobama’s mouth anymore, he can’t even spell the word truth.

/you might try nailing your wallet to the kitchen table, but voting Republican this fall is probably the only thing that’ll keep Pinocchiobama from stealing it

Party Like It’s Tax Freedom Day

Happy Tax Freedom Day

According to the Tax Foundation, the average American needs to work 99 days – until today – in order to pay this year’s federal, state and local taxes. But, this calculation doesn’t include deficit spending.

“Today the average American has finally worked enough to pay off the tax collector, but it will be another thirty-eight days before Americans have covered the costs of reckless deficit spending by our federal, state, and local governments,” U.S. Rep. Tom Price, R-Ga., said in a news release. “That’s a heavy burden for hard-working families to carry at any time, especially when so many are still getting back on their feet.”

According to Price, the government needs to take upwards of 40 percent of Americans’ income to cover its debt and taxes this year, according to Price. If Tax Freedom Day also included deficit spending, it would be celebrated May 17 – “the second latest since World War II,” according to the Tax Foundation; 2009 was the latest (May 21).

“How many budding entrepreneurs and small business owners will decide the risk of following their dreams simply isn’t worth government debt and taxes taking almost forty percent of the reward?” Price said. “No nation in the world has ever taxed and indebted itself into prosperity. It’s time to unshackle our job creators from the bonds of reckless government spending.”

See also:
Happy Tax Freedom Day, Sort Of
Friday is Tax Freedom Day, if you feel like celebrating
Tax Freedom Day: The taxman still cometh
Today is Tax Freedom Day
Tax Freedom Day comes a little later this year
Tax ‘freedom’ comes a day later this year
Tax Freedom Day
The Price of Freedom
America Celebrates Tax Freedom Day
Tax Foundation
Tax Freedom Day

/enjoy it while you can, you’ll be working for the government longer next year because your taxes are going up

Happy First Birthday “Stimulus”!

The “stimulus” worked exactly as intended. What, you didn’t think it was supposed to create jobs, did you?

/Michael Ramirez

Why Defend The Failed Stimulus?

Recovery: Is the president right when he says the stimulus kept the U.S. from falling into a depression? No. In fact, too much government tinkering and spending, not too little, has given us the jobless recovery we have now.

Democrats in charge of both the White House and Congress are firing all their guns at once to tout the benefits of the $862 billion stimulus package passed a year ago this week. They’ve even planned a 35-city tour to support it. Their message?

“One year later, it is largely thanks to the recovery act that a second depression is no longer a possibility,” President Obama said Wednesday. The stimulus act has created 2 million jobs, he claimed, predicting 1.5 million more this year from the program.

Is it just a coincidence that the 3.5 million jobs he is claiming is exactly what the White House predicted early last year? We doubt it. But whatever the case, Obama’s claims are false.

Start with this: Stimulus didn’t save us from an economic cataclysm. Obama himself said so back in March, noting that the economy was “not as bad as we think,” and that he was “highly optimistic.” It’s clear he didn’t think we were on the brink of a Depression.

He was right. In an editorial at the time, we pointed to 13 separate economic indicators signaling an imminent economic recovery — with all of them flashing before the stimulus was in place.

We knew at the time that our resilient private economy would climb out of its hole, and that politicians would try to claim credit. That’s why we wrote: “No politician who voted for these job- and growth-killing measures should claim any credit for our eventual rebound.” Following Wednesday’s fact-bending dog-and-pony show, we think that bears repeating.

The claim that stimulus has “created or saved” 2 million jobs is complete fiction. It rests on the obviously false idea that money can be taken from the productive private sector and given to the nonproductive public sector and create a net gain in jobs.

Based on the imaginary existence of a so-called “Keynesian multiplier,” this kind of thinking hypothesizes jobs that don’t really exist. Sadly, when we count actual jobs, the reality is a bit starker: 8.4 million jobs lost since December 2007, the start of the recession. And more than 4 million lost since the start of 2009.

So when Vice President Biden says Americans are “getting their money’s worth” from stimulus, it should be treated as a punch line — not a policy view.

Hey “Gordon Gecko” Obama, why do you need to wreck this country?

/because it’s wreckable, alright!

Obama Pounds 3.8 Trillion More Borrowed Nails In America’s Economic Coffin

We’re quickly nearing the tipping point where the interest payments alone on our debt will swamp our ability to pay them, yet Obama’s stomping the spending accelerator down to the floorboards with a record setting budget proposal, for the second year in a row.

Just wait until interest rates rise and watch how much more the interest on our debt is going to cost as we borrow even more, that is if anyone will still be willing to lend to us.

/Michael Ramirez

Obama to veil $3.8T budget with massive deficits

President Barack Obama is sending Congress a $3.8 trillion budget on Monday that will increase spending in the fight against high unemployment, boost taxes on the wealthy and freeze spending for a number of government programs.

The deficit for this year would surge to a record-breaking $1.6 trillion, according to a congressional official who had access to a White House summary document. That deficit would easily top last year’s then unprecedented $1.41 trillion gap.

The congressional source, who spoke on condition of anonymity before the budget’s official release, said the deficit would remain above $1 trillion in 2011 and would average 4.5 percent of the economy over the next decade, a level that economists consider a threat to long-term economic prosperity.

Budget of the United States Government, Fiscal Year 2011

See also:
Deficit climbs to record under Obama’s budget
Obama budget: Record spending, record deficit
Obama’s 2011 budget underlines depth of US woes
Shadowed by deficits, Obama pitches economic plan
Budget reflects dire realities, Obama says
Obama’s budget illustrates dire fiscal straits
Breaking Down Obama’s Budget
Hard choices to come with fiscal year 2011 budget
Tax Proposals in the 2011 Budget: What’s In It for You?
Obama’s budget: Impact on your taxes
Obama Budget, Jobs Plan Get Early Tests on Hill
Obama’s budget proposal draws rapid fire from legislators

So, in the face of an obviously unsustainable deficit and debt trajectory, why does Obama insist on submitting a budget with record spending and record deficits? Why does he propose a fig leaf of a spending “freeze”, when drastic spending cuts are clearly called for? I think James Clyburn sums up this insane Democrat mindset best.

“We’re not going to save our way out of this recession,” the majority whip added. “We’ve got to spend our way out of this recession, and I think most economists know that.”

Most economists believe that, really? The reality, as proven by history, is that only the private sector can create a sustainable recovery. Massive government deficit spending only creates a temporary boost, while crowding out private investment and adding to the national debt, which, in turn, sparks long term economic pessimism and turmoil. Eventually, this downward spiral will completely collapse in a national default.

/the time to stop the dangerous and reckless economic train wreck that’s looming is now, so vote like your standard of living depends on it, because it does