http://m.cnbc.com/us_news/35180618?refresh=true
- - - President Obama's economic policies are promoting 'fiscal insanity' that is leading the nation down the path of insolvency, Sen. Judd Gregg (R)-NH told CNBC Monday. "We're going to get ourselves into deep, deep trouble here if we continue to pursue this course of fiscal insanity, in my opinion," said Gregg, a ranking member of the Senate Budget Committee, said in a live interview. "It's not just this year, which is the issue of stimulus," Gregg added. "It's the year after, it's the year after that and the year after, eight years out the president is projecting a trillion dollar defecit, a trillion dollars every year for the next eight years, that's not acceptable. You just can't do that to this country because you're basically taking us down the road of insolvency." Obama's projected budget defecit of $1.6 trillion for the 2010 fiscal year is higher than the $1.35 trillion the Congressional Budget Office cited last week, but both estimates keep the defecit hovering near 10 percent of gross domestic product. The government is being grown at a rate that the US economy cannot sustain and the current administration is discouraging economic growth because of policies that create uncertainty in the market, Gregg said. Investors and entrepreneurs are not going to take risks, invest and create jobs if they think they will lose most of their investment through tax or regulatory policies, he said. "If you have a government in place with an inherent antipathy towards the market and capitalism, and I believe this government does, I wish it weren't true, but this is the government of community organizers. They believe in social justice," said Gregg. - - - It would be insane if an only if the purpose were to fix the economy. It's perfectly rational if the real purpose is to destroy it completely. He's starting to get it, recognizing Obama's open hostility to free market economics, but the fact he thinks it's insane shows he doesn't quite get it. Yet. - Publius -- "It ought never to be forgotten, that a firm union of this country, under an efficient government, will probably be an increasing object of jealousy to more than one nation of Europe; and that enterprises to subvert it will sometimes originate in the intrigues of foreign powers, and will seldom fail to be patronized and abetted by some of them. Its preservation, therefore ought in no case that can be avoided, to be committed to the guardianship of any but those whose situation will uniformly beget an immediate interest in the faithful and vigilant performance of the trust." [Federalist Papers #59] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
