Today while I was driving in to work I was listening to the Glenn Beck show – he had a stand-in ..I wish I could remember that guy’s name to give him credit for what I’m about to say…I’ve decided from this point forward I am going to steal his moniker for Obama….P-BO. Bwahahaha. He figured that since the President continues to hang out with this hip hoppers like Will.I.Am, P-Diddy, J-Lo etc…since he hangs out with people with goofy names…he’d give the Prez a goofy name P-BO. So, from this point forward, I will only use P-BO in reference to the big guy up there on Capital Hill.
Now – I’m sure everyone has read this headline on Drudge Today:
The point of this story is that P-BO is bumping his estimates from $7.18 T to $9 T which brings it in line with what the CBO and other economists have been saying. But, here’s the main point I take from this:
The White House budget office will also lower its deficit forecast for this fiscal year, which ends September 30, to $1.58 trillion from $1.84 trillion next week after removing $250 billion set aside for bank bailouts.
followed by this statement
Obama, who has promised to halve the deficit by the end of his four-year term and likes to remind constituents he inherited a $1.3 trillion deficit from former President George W. Bush, says bringing down healthcare costs is critical to long-term deficit reduction.
Okay – here’s the REAL story that everyone needs to pay attention to – in less than 45 days the deficit will have increased to $1.84 trillion. P-BO keeps harping on the fact that he inherited $1.3 trillion. Forget the fact that he voted for the $787 Billion TARP bill that doubled the deficit immediately. The fact of the matter is that in an 8 month period – P-BO increased the deficit by $500 Billion or half a trillion. It took GWB 8 years to reach $600 Billion before the TARP bill.
Perhaps what people are not understanding is the difference between debt and deficit. A debt is a liability on the books – the amount that you borrow and promise to pay back at some specified interest rate. A deficit is a negative number. In other words, if you are balancing your own checkbook and you started off with $100 at the beginning of the month and you spent $200, you have a $100 deficit. At that point, the banks start charging bank fees and bouncing your checks.
Even if P-BO halves the deficit by the end of his first term, at the rate he is going, by 2012 he will have a deficit of $3.6 trillion. If he halves that, he is still at $1.8 Trillion which is exactly where we will be at on September 30, 2009. So – what the hell would he have accomplished in 4 years? Absolutely nothing. But, I would like to know how he expect to halve the deficit when the CBO is coming out and saying we will be at $9 T in 10 years. That means that with everything he has already commited this country too – unless there are some serious cuts in the budget, major tax increases, and a major reduction in the size of this government, there is no freakin’ way in hell he will be able to balance the budget.
This is just more tax and spend government. This is nothing new to the dems. I’m just wondering exactly what that change is that he promised? The only change I see is a complete government takeover of this country and the best way to do that is to collapse this economy – which is exactly what will happen if the health care bill and the cap and tax bills get passed. He won’t need to pass another spending bill the rest of his term to send us in to a total collapse. This is totally unsustainable and there is no way in hell we Americans as a people can overcome such a deficit unless he literally sells the entire country and all of our land and assets to foreign countries like China and Brazil.
This is proof positive that every election has consequences. November 2010 can’t get here fast enough.
It appears that while Obama signed an executive order earlier this year banning offshore drilling once again off the American coast – they have decided that offshore drilling is actually a good idea. In fact, we taxpayers will be funding offshore drilling to the tune of $2,000,000,000.00. Wow – it’s about time, right?
WRONG! Perhaps I should mention that Obama is funding this $2 Billion to PetroBras – The state of Brazil – as reported in The Wall Street Journal
The U.S. is going to lend billions of dollars to Brazil’s state-owned oil company, Petrobras, to finance exploration of the huge offshore discovery in Brazil’s Tupi oil field in the Santos Basin near Rio de Janeiro. Brazil’s planning minister confirmed that White House National Security Adviser James Jones met this month with Brazilian officials to talk about the loan.
The U.S. Export-Import Bank tells us it has issued a “preliminary commitment” letter to Petrobras in the amount of $2 billion and has discussed with Brazil the possibility of increasing that amount. Ex-Im Bank says it has not decided whether the money will come in the form of a direct loan or loan guarantees. Either way, this corporate foreign aid may strike some readers as odd, given that the U.S. Treasury seems desperate for cash and Petrobras is one of the largest corporations in the Americas.
Here are the stats on PetroBras:
Data referring to the year 2008
R$ 53.3 billion
109 drilling rig
RESERVES (SEC CRITERION)
11.19 billion barrels of oil and gas equivalent (boe)
112 (78 fixed; 34 floating)
1,978,000 barrels per day (bpd) of oil and LNG
422,000 barrels of natural gas per day
YIELD FROM REFINERIES
1,937,000 barrels a day
189 (54 belonging to Petrobras)
Last updated: March 2009
Let’s put those $Real figures in to American dollars – at today’s exchange rate of 1.84 Reals to 1 U.S. Dollar the total net earnings are $116,911,957. Net Income is $17,928,261. Their total investments are $30 Billion. This is a state owned oil company. The Obama administration is providing $2 Billion to another country that has $30 Billion in investments for offshore oil exploration – OFF THE SHORES OF BRAZIL! WTF? This is the same country that just signed a deal in February to supply China with 58,000,000,000 barrels of oil per year. So – essentially, we Americans are funding Brazil to explore and drill off their own shores in order to provide oil to another country.
Oh – Did I mention that George Soros is the major stakeholder in PetroBras? He personally holds $900,000,000 in shares of PetroBras. So, who really benefits by Obama giving PetroBras this $2 Billion? It sure as hell isn’t we the American people who are actually paying for it. This is just another payoff to his corporate pal Soros and to China.
When are you people on the left going to realize that Obama doesn’t give a shit about we Americans, the poor, or the middle class? He only cares about paying off all of his corporate buddies. You thought GWB was in the tank with corporations – the entire freakin’ Obama administration and every single freakin spending bill that has been put out there in the last 7 months were payoffs to large corporations that donated to him.
Who do you think benefits the most if the healthcare bill passes? It sure isn’t we the American people – it will be GE, George Soros, PhRma, the SEIU, GMMB, and AKPD, just to name a few. I have a hard-core liberal cousin who lives in Pittsburgh. During one of our conversations prior to the elections he said he was voting for Obama because Obama wasn’t in the pocket of big corporations like Bush was and that Obama was going to take the power away from corporate America and give it back to the people. Hmmm…I wonder how that is working out now? I’m gonna have to give him a call now!
Anyway – to get back to the main point – while I think this is a slap in the face of all Americans and absolutely exposes the hypocrisy of the left that they would fund offshore drilling in a leftist country but absolutely ban all offshore drilling in America – as the news gets out on this – I believe more Americans will start to wake up. The left no longer has a leg to stand on when it comes to offshore drilling. We Americans are paying dearly at the pump and the leftists in D.C. are forcing Cap and Tax on us that will continue to drive up prices at the pump and in our homes – yet – they will finance oil exploration outside of the country. We are being screwed once again by our own government – and for what? How does this deal make any freakin sense at all? This just proves that the Cap and Tax is a scam.
Why would a company worth $30 billion and has a lucrative long-term contract with China need our taxpayer dollars to drill in their own waters? They don’t. I’m going to say it again – this is a round about way to payoff Soros and China using our money. Call your representatives and senators and tell them to drop this deal. In this stagnant economy – we can’t afford to subsidize other countries – nevertheless the 7th largest oil producer in the world.
I also found out that other bloggers have picked up on this as well:
Michelle Malkin – Hot Air – Good news: Obama backs off-shore drilling!
Gateway Pundit – Team Obama Funds Oil Drilling Project in Brazil (I recommend checking this one out – he has a lot of good graphics on the American “No Zones” and bans.)
We have a great carnival this week folks! Lot’s of really lively submissions to comment on. Make sure you stop by the blogs of my contributors and let them know your opinions about their submissions.
Phil B. presents End All Foreign Aid posted at Phil for Humanity, saying, “In 2008, the United States gave an estimated 26 billion dollars in foreign aid to other countries. For free… Yup, the U.S. government continues giving away your hard earned tax dollars.”
100% in agreement Phil. In today’s economy, it makes absolutely no sense that we continue to send $billions to other countries when we could use it here. Obama has plans to nearly double that with a price tag of $50 Billion!! He’s gonna bankrupt this country. Seems he cares more about other countries than he does America.
Rich Bordner presents Epic Fail: Planned Parenthood Shows its True Colors…Again « The Pugnacious Irishman posted at The Pugnacious Irishman, saying, “Planned Parenthood has it backwards–rather than being angry at Lila Rose for exposing wickedness in their ranks, why aren’t they angry at the PP workers who would fail to protect girls by turning a blind eye to sex abuse?”
I saw that report a month ago on the Glenn Beck show when he interviewed Lila Rose. Planned Parenthood has only one agenda – to increase the number of abortions in this country. They don’t counsel young girls on pregnancy prevention and they certainly won’t bring law enforcement in to their midst even when it is mandated by law. Great post. I completely forgot about this.
Scott – a great compilation of Obama’s “accomplishments” in the last 5 months. While I am a believer that success comes out of learning from failure – I’m afraid there won’t be any success from these failures. Good post.
Phil B. presents Why Conservatives are typically not Conservationists too? « Phil for Humanity posted at Phil for Humanity, saying, “Have you wondered why most conservatives are not conservationists?”
Do you really believe that? I believe in conservation – and I guess this goes to one of your other points – because it conserves my money. I have solar panels on my roof, all energy star rated products, I recycle, I installed low-flow toilets, and low flow water regulators on my faucets, and I had my energy company put the governors on my meter to regulate and turn off the power during low peak hours. As a result, I’m saving a considerable amount of money every month. I think if more conservatives knew just how much money they could “conserve” more would jump on the bandwagon.
Silicon Valley Blogger presents 12 Ways To Beat Inflation: Don’t Let Rising Prices Get You Down posted at The Digerati Life, saying, “I offer several ways to beat inflation. It’s in the horizon, don’t you think? Find out how to address it before it comes.”
Great list! As I commented on your site, some of these tips I’m already following, or doing, others were good common sense ideas that I hadn’t even thought about. Thanks for being a regular contibutor and for providing such valuable tips and pointers given today’s economy. I would recommend my readers to do as I did, check out this post and then print it off for future reference – or at a minimum – bookmark the page.
The Smarter Wallet presents Find Business Success In A Bad Economy: Managing A Failing Business posted at The Smarter Wallet, saying, “Is it still possible to find business success in a troubled economy? I investigate how business owners can survive the slowdown by keeping tabs on the bigger picture.”
I was considering buying in to a franchise (I won’t detail who and what here) and have been having some serious second thoughts about it. While I realize this post was primarily tips for staying above water if you already own a business, I found that these tips also are helping to work through my decision. As always, another great resources for my readers.
Hi Linda. I’m not so sure of your age, but, these aren’t really shocking. These are pretty well known. It’s because of these basic human rights issues that many of we Conservatives opposed Clinton giving them “favored nation status” back in the ’90′s. They are our biggest trading partner – yet – we don’t do anything to have them address things like this. This list is minor compared to what they are physically doing to their people.
Holly presents Obama’s Excuse for Not Overturning “Don’t Ask, Don’t Tell” – “It’s a Generational Issue” posted at Menstrual Poetry.
Hi Holly – thanks for allowing me to post this up in the carnival. We’ll take this one piece at a time. First – you stated “Obama knows that about 75% of the American public supports the repeal of Don’t Ask, Don’t Tell.” It would have been nice if you sourced that. I searched everywhere and could not find a poll that stated that. Actually the latest gallup poll shows that 69% of Americans would support gays in the military. However, what this poll doesn’t do is ask those in the military, or those who would consider military service, what their opinion is. Also – based on the tone of your post – it almost sounds like you are finally waking up to the fraud that Obama is that we on the right tried to warn you guys about. Now to speak to the issue – Don’t Ask, Don’t Tell. First of all, I was against this legislation to begin with. I was serving in the USAF when this was instituted. The way our military was set up should have been left alone to begin with. Sodomy is a UCMJ offense and homosexuals were run out immediately – as it should be. There is no room for gays serving “openly” in our military. Here’s why:
1. Have you ever heard of “blanket parties” – they exist. Anyone who “openly” serves in our military will repeatedly find themselves on the receiving end of a blanket party. They’ll be run out by our service members.
2. You would have to change the UCMJ to punish those who have a religious belief that being gay is abnormal and an abomination to God. This would be against the First Amendment.
3. Machismo is alive and well in our military. Anyone serving “openly” in the military would be treated as a pariah. No one will want to serve with that individual and it would be well known to that individual. You would be putting that individual in harms way and putting undue stress on him/her.
4. It would kill the morale of our military members.
5. You would have to redesign all of the military barracks or make separate “shower times” for the openly gay. In case you did not know – barrack living means communal showers. It is not a matter of being a homophobe or anything like that – neither straight women nor straight men in the military want to be in the showers with someone that is openly gay. YOU might find this ridiculous – but – it is the truth.
6. If you openly allow gays in the military and start punishing those in the military who oppose it, it will destroy our military. Straight people won’t be signing up and those who are in won’t re-enlist.
If they do repeal Don’t Ask, Don’t Tell – it needs to be back to what it was before Clinton put it in. Gays are not welcome to openly serve in the military.
Given the choice – I would say hell no! The government needs to stay out of our lives and stop “forcing” Americans to make choices. This is America – the land of the free where we get to decide our own fates. It is not the government’s job to take care of the people nor is it their job to make other people take care of those who refuse to take care of themselves. Universal Health Insurance is not the answer. Making access to affordable healthcare is the key. The government plan just benefits the government and the insurance companies.
Martin, I’ve been a big fan of Kiyosaki ever since I bought his first book “Rich Dad, Poor Dad.” I didn’t even know he had this new book out. Based on your review of this book, it is very relevant today and a must read – especially for those of us who have been buying his other books. This guy has been right on for quite some time.
debergerac78 presents Make sure your entire company knows your ethics policies! posted at The Business Ethics Blog, saying, “The Washington Post’s business division appears to be offering lobbyists and association executives an exclusive chance to meet key Obama administration officials and members of Congress–for a considerable fee. The Post seems to have gone from newspaper to match-maker.”
Debergerac – thanks for bringing this to our attention. Just further proof of the erosion and decline of journalism.
Archvillain presents I Apologize to the Gnats posted at A Dark and Sinister Force for Good, saying, “By comparison with the American public, the attention span of gnats spans centuries … and they’re less likely to get distracted by celebutainment.”
Archvillain – as always – your observations and comparisons are spot on. In case it wasn’t made painfully obvious with Honduras, with Obama siding with despots and dictators, his policy on non-intervention in Iran becomes oh so clear – he is more comfortable with those who oppose democracy. You are right – the majority of the people in this country aren’t paying attention. Our Iranian friends were crying out to America for help, and Obama turned his back on them in favor of supporting their leaders. You gotta wonder where this country his headed with leadership like that.
Jared – awesome – thanks for sharing. Did you notice how there was absolutely no coverage of any of these T.E.A. Parties in the MSM? You stated “10′s of thousands” showed up on April 15th. Actually, it was estimated to be about 250,000 across the country. On July 4th there were about 1,500 protests across the country (compared to April’s 750) with some of those reaching in the 10′s of thousands themselves. It’s really hard to find solid numbers because the MSM refuses to report on them.
Wow, Rick. You obviously are basing your ideas on emotion versus fact. Considering I am starting my dissertation in August earning my Ph.D. in Public Health – I can give you many factually based responses why Universal Health care is not the way to go. However, I will limit it to just one main factor – if I started raising all the issues – it will turn my response in to a separate post (which I think I will do in response to your proposition) – the main reason against Universal Health care is: Rationing. The entire universal healthcare system is based on rationing of health care – something our current system does not do. Here are a list of resources you should read:
Cookson, R. & Dolan, P. (1999). Public views on health care rationing: a group discussion study. Health Policy, 49(1), (63-74).
Cookson, R. & Dolan, P. (2000). Principles of Justice in Health Care Rationing. British Medical Journal, 26, (323-329).
Strosberg, M.A., Wiener, J.M., & Baker, R. (1993). Rationing America’s Medical Care: The Oregon Plan and Beyond. Critical Care Medicine. Washington D.C.: Brookings Institute Publishers.
Schut, F.T., & Van de Ven, W.P.M.M. (2005). Rationing and competion in the Dutch health-care system. Health Economics, 14(S1), (S59-S75).
Once you understand this – we’ll talk again. The bottom line is that the government makes the decisions on who is allowed access to health care based on a cost-benefit analysis – not on what is right for you. They look at your age and current state of health compared to the costs to the state for the care required. Do you really want the government to make decisions about your health care needs based on their fiscal budgets?
Yup – saw that one coming! At some point he’s gonna have to stop blaming Bush for his own failures. He still uses the excuse that he inherited this problem. Well, he inherited a $750 Billion deficit. He has already tripled that in 5 months with it anticipated to quadruple by the end of the year. He clearly let everyone know exactly how his administration was going to be run when he said “We won.” Now, Pelosi and Reid are repeating that mantra. Sure, the Dems won, but America lost. I hope we can find some way of turning this around before we hit that point of no return. Unless the administration and Obama start letting in some common sense, they will continue to spend this country out of control.
That concludes this edition. Submit your blog article to the next edition of The BoBo Carnival of Politics using our carnival submission form. Past posts and future hosts can be found on our blog carnival index page.