“Magic negro” engages in magical thinking

You remember when an LA Times opinion column told us that Obama was the “magic negro,” don’t you?  I think Obama took that idea way to seriously, because he’s now engaged in some magical thinking.  He assures us that, despite economic freefall, despite a trillion dollars in added debt, and despite the nationalization of our industries with the concomitant creation of busywork jobs that aren’t economically meaningful, he’s going to halve the deficit in four years:

Republican governors reacted skeptically Sunday to news that President Obama plans to halve the record budget deficits to more than a half trillion dollars by 2013, the end of the current presidential term.

Minnesota Gov. Tim Pawlenty told “FOX News Sunday” that the markets reacted badly to the $787 billion stimulus bill signed into legislation this past week — the market is now down more than 41 percent off its mark of one year ago — and it’s only going to get worse if the president raises taxes.

Pawlenty said if voters think raising taxes will solve the deficit, he’s got “hunting land for you in northern Minnesota.”

South Carolina Gov. Mark Sanford, who vehemently opposed the stimulus bill, said cutting in half the annual deficit is a drop in the bucket.

“The operational deficit is a very small component of the larger deficit this country is running,” he said.

An administration official, speaking on condition of anonymity, said Saturday that the president plans to cut back the annual budget deficit to $533 billion by time he ends his current term in office. That would be down from the $1.3 trillion deficit expected in fiscal year 2009.

Side me with the skeptical Republican governors, because I do not see how you can dramatically increase the debt, suck money out of the economy, and nationalize major businesses, and then simultaneously decrease the debt.  Am I missing here, or is Obama (at the risk of sounding racist) engaging in voodoo economics?

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Comments

  1. Danny Lemieux says

    Not to mention that Obamatopia has only just gotten started spending money. We are still waiting for nationalized (rationed) health care, carbon taxes, and bailouts of California, Detroit and other Democrat Utopias. Add to that inflation.

  2. SADIE says

    Doesn’t this come under the old heading: Voodoo Economics.

    Maybe Obama has a magic wand (it’s a lot like Moses’ staff) instead of parting waters, it parts the deficit in half.

    It also parts all of us with half of what we have.

  3. socratease says

    Well, let’s see: He signed an unreasonable ‘stimulus’ bill that spends money we don’t have on all his pet liberal projects, then he uses the bill’s unreasonableness as an excuse to cut the programs he doesn’t like and increase taxes. What’s ‘magical’ about that?

  4. Zhombre says

    The standard Democrat formula: higher taxes, lower defenses. A cut in the DoD budget and scaling back of the military. Obama will be able to reap benefits from a stabilized Iraq, which he can no way take credit for.

  5. Danny Lemieux says

    Hmmm…I forgot something. Does anyone want to lay bets on the table as to when “reparations” reappears as a government program and additional expense?

  6. Oldflyer says

    He clearly believes that, like during the campaign, he can say whatever suits his purpose and will never be accountable.

    I talked to my friendly financial guru last week and asked him to plan for this scenario; Obama tries to borrow all of the money needed to fund his pipe dreams. The lenders are not there, so the Treasury starts printing massive amounts of money. Inflation starts to spiral upward and stagflation kicks in. In other words, we are in the worst of possible worlds. We lost a significant percentage of our wealth (I use the term loosely) to recession; and what we managed to keep is now worth much less.

    I don’t know if he hung up on me —or fainted.

  7. says

    Might be a good time to buy some gold bullion coins – whichever cost you the LOWEST premium above the world price of gold.

    I’m not talking about selling everything and buying gold….just diversify a bit and insure against a runaway inflation.

    But NOT gold, alone…..get some “junk silver”, U.S. dimes, quarters, etc. from back when these were all silver. You can buy them in canvas bags, and if there *is* a huge inflation, it will be easier to buy stuff with a silver dime than with a gold coin weighing an ounce or so. They ain’t going to be giving change in those days, and you’ll make yourself a target throwing gold around.

    Sounds nuts, doesn’t it…..I’m not as confident that it’s nuts as I was a year ago.

  8. expat says

    Quisp,

    Like you, I find this ACORN stuff abominable, especially if the “stimulus” bill is going to be underwriting more of it. The comment by sherryande at your HuffPo link provides the kind of info about ACORN tearjerk campaigns that should be included in MSM reports. Your links are must reads.

  9. Danny Lemieux says

    Gee, does anyone remember that it was only about 2 years ago we were talking about how there wasn’t any way to find enough money to fund the Social Security, Medicare and Medicaid obligations as Baby Boomers retire?

    Could somebody please pinch me so that I can wake up?

  10. Charles Martel says

    Does anybody remember the vacuum creature in “Yellow Submarine?” As the Fab Four dip beneath the waves on that magical boat, they encounter all sorts of weird sea creatures.

    Weirdest of all is the vacuum creature, which goes around sucking up everything in its path.

    When there is nothing left to suck up, it consumes itself.

    Leftist economics in a nutshell.

  11. SADIE says

    Danny:

    Are you sure you want that pinch?

    They’ve sold the ‘Stimulus Bill’ like a Walmart special discount marked down to ONLY $787 billion. I don’t believe for a minute that this is the final price we all will be paying.

    They may as well change the name of the Treasury Department to the Trillion Department now with the caveat that trillion will have an ‘s’ added on to it by the end of this year.

    Oldflyer: Break out the ‘smelling salts’ for your friend.

  12. Bill Smith says

    But, up until now he has led a magical life. President of Law Review without the usual qualifications, dearth of notable legal publications, all expense paid trip through Europe though an impoverished student, a pass on proving his citizenship, all while spending a fortune to prevent the release his actual Birth Certificate, oceans of campaign $$ from… where?

    Plus, with his personality, he truly believes that merely saying it makes it so.

  13. Ellen says

    I’m an aging Baby Boomer. I guess I’ll work till I die, but that’s all right since I like to work. I only hope that it won’t get to the point where The Powers That Be will tell me I am too old and that for the sake of society, I must off myself. Longevity reigns in my family.

  14. Oldflyer says

    Ellen, you recognize the crunch. Just at the time that the retirement age for Social Security is going up, and the value of retirement accounts are going down, “mature” workers are going to become “redundant”. (That is the term our British friends use. It really has an Orwellian, or maybe Stalinist, ring doesn’t it?) Redundancy is the dreaded status in the British workforce.

    As these redundant workers become more of a burden on society, the time will surely come when they, we, become redundant persons. America, as a humane country under liberal rule, will no doubt make it a voluntary process. Just a bit of persuasion to help the guilty make the final decision for the good of the children.

  15. Charles Martel says

    America started enuring itself and its children to casual killing when the Supremes penumbra-ed Roe v. Wade out of their priestly arses in ’73. Now, 50 million dismembered corpses later, many have the same attitude that Stalin had: “One death is a tragedy, a million deaths is a statistic.”

    Since it was we Boomers who blazed the brave trail to sexual freedom and the ability to rid themselves of its consequences, it may be that their children, who are just now waking up to the fact that we have enslaved them to a lifetime of high taxation and spartan living standards, will decide that 75 is a nifty cut-off point for receiving Social Security or Medicare. After that, elders on their own because, boy, Gen X, Y and Z can sure use the money.

    There will be another payback involved: revenge for how many would-be brothers, sisters, lovers and best friends that got aborted along the way. Most kids my son’s age, even though they believe in the murderous thing known as “choice,” also know deep down that had Mommy and Daddy been feeling a little bit blue or cross way back when, they might have joined Might-Have-Been Big Sis’s parts and pieces down the drain at the abortuary.

    Vengeance is a dish best served cold. Get your fleece-lined diapers ready, Boomers!

  16. Quisp says

    America, as a humane country under liberal rule, will no doubt make it a voluntary process. Just a bit of persuasion to help the guilty make the final decision for the good of the children.

    Oh, like in Oregon.

  17. says

    It is amazing that anyone can simply look over the fact that these are pure and simple home invasions.

    That’s what doublethink was designed to do. To train people in holding mutually exclusive beliefs at the same time.

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