Obama, Congress, & the “Vig”

For those of you not familiar with the “vig,” it is the interest required by a bookie, loan shark, or crime syndicate to float a loan to their “customer!”  The vig is also referred to as the “juice” on the loan.  And, in the old days, if you failed to pay the “vig,” the mob whacked your knees….or fed you to the sharks!

When I look at the national debt and the federal budget deficit, it seems that the morons in Washington have no concept for what the vig really means.  Incredibly, they are not “gambling” with their own money, they are gambling (and borrowing with a huge vig) with OUR money!  They are freely spending money that they do not have and are ignoring the consequences of their actions.  So, what are the consequences?

To date, the national debt is $13,400,000,000,000 (lots of zeros) and it is expected to reach $18.4 TRILLION by 2019 according to the Congressional Budget Office (the impartial bookkeepers for the government)! Just in case you find trillions to hard to conceive, the national debt is $44,000 for each man, woman, and child in the US….and $120,000 per taxpayer!  The current federal budget deficit for 2010 is over $1.3 TRILLION.  Furthermore, the money spent to finance the wars in Iraq and Afghanistan and the looming losses in Freddie & Fannie are “off budget items” that, if included in the actual budget, would balloon the budget deficit even higher.  As an example, the war in Afghanistan is expected to cost $171 Billion in 2010!

We need to look no farther than these figures to justify a complete turn-over in the Congress in the mid-terms in November.  Of course, there are other good reasons for voting the so-called “representatives of the constituents” to the curb:  unemployment of 9.5% (and underemployment of 16.5%+), immigration policy, healthcare takeover, failed stimulus, TARP,  etc.  Congress, as a whole (under the leadership of Pelosi & Reid, with the direction of President Obama and his far-left, progressive advisors) should be ashamed of their performance.  And, that is why many of the current lawmakers will be “retired” from their cushy jobs on November 2!

Now, before the left-wing, progressives who read this blog get all bent out of shape, I openly admit that the national debt problem did not start the day Obama was sworn into office.  Preceeding administrations and congresspersons also deserve to get panned for their inattention to our fiscal business.  However, the problem has gotten worse, much faster, with the Dems in charge!  Obama wanted to sit at the big-boy table; so it is his problem to deal with now!

Our consequences for their actions….Enormous debt that we, our children, and our grand-children will probably NEVER pay off!  We are headed for bankruptcy unless a new batch of politicians take actions to reduce the federal budget and stimulate the economy.  Increased tax revenue through a thriving economy is the surest way to turn the debt situation around.  Otherwise the “vig” and “juice” will grow until we all have broken knees!

2010 & 2012….Without Doubt, Vote Them Out!

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8 responses to “Obama, Congress, & the “Vig”

  1. You are so right! Obama did not start this problem, but his free-wheeling spending is making the problem much worse. Another thing you are right about is that it is time for Obama to stop blaming Bush for everything that ails this country. He is sounding like the little kid on the playground that has his ice cream cone taken from him! Just whining! This is his time to show some real leadership…..real leaders take charge, they don’t blame others! Does he have it in him?….I doubt it!

  2. What are the consequenses of irresponsible spending, you ask? It does not take much brain power to know the answer. Therefore, the question becomes, why is our leadership spending so recklessly? Is this intentional or is it planned? Clinton balanced our budget in the late 90s with a vibrant economy. Investing in the American capitalist system to stimulate the economy thus creating jobs, and giving away money to create dependency are two very different actions. Mag269, you are so right. This is the leadership of Obama and no prior President.

  3. Soon the Republicans may be in a position to stop or defund many of Obama’s policies. The question is will they be willing to propose and enact the systemic changes necessary to truly change the way Washinton D.C. operates. Acting alone neither the Democrats or the Republicans can be effective. It is true that the federal budget was balanced the last two years of the Clinton presidency. This is largely attributable to the spending constraints imposed by the Republican congress and Clinton’s survival instincts. The economy flourished as the purse strings were tightened. Clinton was reelected.

    Bush and the Republican congress forgot these lessons. Spending surged but was temporarily masked by the revenue increases and economic growth made possible in large part by the Bush tax cuts. The hubris of one party rule led to the Democrats taking over Congress in 2004.

    The Dem’s padded their totals in 2006. Bush failed to effectively wield his veto pen. Spending continued to rise, earmarks ballooned, and the housing bubble burst. Bailouts began and the Democrats took over theWhite House. We are back to one party rule and the budget deficit is out of control.

    Republicans have a huge opportunity before them if they regain control of congress. They can choose to get even with the Democrats, a tempting prospect to be sure. This will not bring the ecnomy back. Or, the Republicans work with Obama and the moderate Democrats to propose and enact policies that work for the majority of Americans, not just special interests.

    The upcoming election is going to bring an unusually large number of freshmen law makers into congress. I hope these freshmen aren’t corrupted by the surviving veterans. Otherwise the pendulum will soon swing back to the Democrats and little of consequence will get done.

  4. Deb…..could not agree more. The Repubs have to offer solutions and mend some fences with like-minded Democrats. Maybe, just maybe, something can be learned and each will remember why they need one another for the system to survive…..and work together to protect America! We must get back to the center….and away from the far left influences that Obama brought to this presidency. But, if he is unwilling to bend (as Clinton did) then we will have wasted two more years and caused much more damage to a fragile economy!

  5. Jeff Jacoby of the Boston Globe offers an excellent analysis of the “Cash for Clunkers” program….once again, Obama’s economic inexperience is highlighted! Obama spent $3 billion and, in effect, raised the price of vehicles over time by reducing the inventory of used cars…smart move!?!?!

    http://www.boston.com/bostonglobe/editorial_opinion/oped/articles/2010/09/01/clunkers_a_classic_government_folly/?s_campaign=8315

  6. We’ll see what happens if Bush babies get back in office! Do you really want more of 2000 to 2008. I don’t….Obama is doing the best he can with the problems that Bush left him.

  7. Obamafool….Yes, we will see what happens when some sanity returns to Congress because your liberal friends are going down in November…thankfully before they take the country down!!!!! And, PLEASE, stop Bush bashing…that is SO yesterday!! Grow up!

    And….do you miss him now? Many of us do when compared to what we have today!

  8. Obamafool, nice name. Very appropriate. There seem to be fewer and fewer of your kind willing to admit their support for the real Obama fool these days. I admire the strength of your convictions, Obamafool. Your judgment, that’s another matter.

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