The Presidential Budgets/Economic Projections
August 17, 2012
– Comments (5)
All you Republicans clamoring Ryan's budget will save us haven't done the math. Like Obama's budget, Ryan's budget assumes 3-4% growth. Even *if* they get this, which they won't, they still add $3-4T to the debt in their first term.
And just like Obama's budget plan, Ryan's plan has deficit projections based on this rosey, mythical 3-4% growth. Guess what happens to the deficits and therefore the debt when they fall short, like Obama? And we're not talking falling a little short. Obama has avg'd somewhere between 1.5-1.7% growth. That's falling short +100%.
The deficits/debt added will still explode requiring more printing, more taxes, more fees, more tolls, more fines. I haven't been wrong on much with Obama's budgets. I won't be wrong on Romney/Ryan's either.
Now that Obama has increased the debt burden on the private economy an additional 67% in 4 years, on top of the 67% Bush added in his 8 years (for a total of +130% debt growth in 12 years), I foresee growth slowing even further. Romney and Ryan will be lucky to get half of the 3-4% growth they are projecting, if not inheriting negative growth (recession) if elected.
And if we actually do approach recession, I see more easing/printing/twisting or whatever the hell they want to call it now. It's a fancy word for printing lots of money, handing it out to their friends, and calling it a day. Whether its Obama or Romney, the printed money hand outs won't change, but the people they hand it too will.
The more we print, the weaker the dollar becomes, the higher the prices we pay. Inflation is a tax, which hurts the lower income, fixed income, disabled, middle class, and poor the most...while helping the rich the most. You know, that top percentage everyone talks about? The income gap continues to widen as we continue down this path. Get it yet?
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