In February 2010, President Barack Obama advised people trying to save money not to “blow a bunch of cash in Vegas.”
That was the second time this anti-business President has seen fit to use his bully pulpit to wage war on the Las Vegas tourist industry, known affectionately all across America as Sin City.
Las Vegas Mayor Oscar Goodman, fuming with rage at Obama’s intemperate remarks, summed up the president’s second faux pas thusly, "This president is a real slow learner."
Current budget battles over taxes and spending, the War Powers Act, and a host of other crises, prove that Mayor Goodman was prophetic about Obama’s learning disability!
While Obama misuses his pulpit/teleprompter to destroy the economy and jobs, there is a major economic risk that Obama and Democrats are ignoring.
Namely, anyone under 55 who is paying into the liberal-created Ponzi schemes known as Social Security and Medicare is throwing money down the toilet.
Both of these progressive mistakes are destined for bankruptcy.
The only question, really, is WHEN?
That question seems unanswerable because liberals like Obama and Harry Reid refuse to fact the facts.
Truth, as it were, is just too painful, especially so close to an national election.
“Let’s wait 20 years and see what happens,” is the counsel answer from geezers like Harry Reid who will probably be dead and buried long before the Social Security administration starts issuing monthly bills rather than benefits checks.
Obama and Reid need to read and understand the report issued by the CBO, which paints a dreary picture, indeed.
That report is shown,in part, at the reference and summarized below:
The Congressional Budget Office (CBO) released its Long-Term 2011 Budget Outlook Report, Wednesday, with dire projections for the nation’s fiscal future if the current path is not changed. The CBO called its budget outlook “daunting.”On the same day as the CBO report made the breaking news headlines, Harry Reid and other moon bats on the left demanded additional stimulus spending to create jobs!
Under current law, federal spending will continue to soar and an aging populations will increasingly draw funds from programs like Medicare and Social Security. According to the new report, in order to prevent the debt from becoming unsustainable, revenues need to increase and spending needs to be cut from projected levels.
One of the more dire figures in Wednesday’s report is the CBO’s projection that by the end of 2011, federal debt will reach approximately 70 percent of gross domestic product – the highest level it has been since the end of World War II.
The report also says that under current law, the aging population combined with rising health care costs will cause spending on health programs like Medicare, and Social Security, to rise to 15 percent of GDP in 25 years. Right now, that spending is 10 percent of GDP. To put that number in perspective, over the last 40 years, all government spending, except for interest payments on the debt, has averaged 18.5 percent of GDP.”
Talk about “slow learners” !
Add the names of Dick Durbin, Nancy Pelosi, and all the rest on the far-left to the list of those who have learning disabilities brought on by a lifetime of deluded liberal thinking.
An urgent message to anyone under 55: Ignore the words coming from our President and Democrats. Do NOT count on living on Social Security and Medicare.
Playing the odds in Las Vegas may provide the only real hope for surviving the liberal destruction of the “America Dream.”
http://news.yahoo.com/s/dailycaller/20110622/pl_dailycaller/cboreleasesdauntinglongtermbudgetoutlook_1
