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April 11, 2011

America's Economic 'Canary' Headed For The Rocks

Topics: International News, Political News and commentaries

America's 'canary in the coalmine' on its debt crisis is the Eurozone debt crisis ... and that canary is barely hanging on to life: Eurozone ship is on the course that was set for it: heading for the rocks.

Meanwhile, as we've previously noted, under Barack Obama's budget, U.S. debt is set to soar ... with the debt clock ticking at $14.28 trillion ... and counting, Obama's budget now adds (after the meaningless cuts) $9.46 trillion more to it ... give or take some chump change (adding $1.6 trillion to the deficit over this fiscal year, alone).

Not to worry, though. Barack Obama, after delivering the largest and most debt-increasing budget in American history, will be redefining the meaning of "chutzpah" ... addressing the debt crisis (clearly in response to Paul Ryan's plan) by ... giving us another one of his speeches tonight. And although we can expect lots of the usual spin and empty rhetoric ... don't expect to actually hear any specifics. He hasn't any other than to invite debate and say, "Hey, I've Got A New Idea. Let's Raise Taxes on the Rich!".

Related:
Obama's do-over budget
Obama to offer "scalpel, not machete" for entitlement reform

Posted by Richard at April 11, 2011 9:13 AM



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