Government in Action

Re(1):  'State paid $22K each for Internet routers', The Charleston Gazette, Chip Ellis

The sales agents recommended a smaller router -- with a list price of $487.

Here is the ONLY reason for buying and installing a router capable of supporting thousands of connections at a   site of four client machines...

Because requesting, justifying, ordering, and buying equipment via baroque government purchasing processes is so inefficient that it subsumes the cost savings of right-sizing the purchase.

For example, if it takes two years to properly size, request, justify, order, and install the gear it might be more efficient to initiate the process quickly and simplify the purchase.  Oops, it took these goobers two years to buy and install the wrong gear.  Yowser...

What Happens After the Black???

Re(1):  'Deer in the Headlights', The Belmont Club, Richard Fernandez

In the movies the credits roll.

Federal Revenue and Spending Since FY1997

Now, a few points

• A Fiscal Year for the Federal Government is from October 1 through September 30.  Thus, FY2009 ranges from 2008/10/01 through 2009/09/30.  President Bush is responsible for part of FY2009.  His expected spending as of January 2009 was $3.133 Trillion.  President Obama must assume the additional $387 Billion for FY2009 as a result of his spending programs.
• Note how structural the spending under President Obama is.  This is not pure stimulus.  It is structural, expected, and 'budgeted'.  His structural spending increase is at least $600 Billion.  Can we afford that?
• And, note how slowly revenue growth is trending upward.  We could afford Obama's structural spending if revenue was growing as rapidly as occurred during either the Clinton or Bush presidencies.  It has not, however.

Why invest - and thus grow the economy - if the gains are taxed away?  Why take the risk?

Every year since President Obama became president he has threatened to increase dividend taxes.  Why should an investor want - and thus a corporation generate - dividend income when there is a chance of vastly increased taxation?  And, for the Libs out there, corporations must pay dividends with AFTER TAX profits.  Thus, viola, businesses just move a number here and an expense there - resulting in less profit.  I don't want heavily taxed dividends.

With President Obama's dividend tax treatment I no longer want dividends - I want capital gains.  As a result, and because I am a prophet of the obvious, here comes Enron II as corporations game the stock price...


Yowser

President Obama's Reality Based Reality

The annual deficit seems to be accelerating.

 To be honest, there is a chance that the biggest revenue month of the year (April) will initiate a time of budget surpluses - but me not think so. My best guess is that this April will be worse than last April... Yowser, why don't we threaten personal and business income with more expenses and taxes!!! Yea, that's the ticket... 

Anyway, here is reality for the reality based community...

President Bush				President Obama
Year	Deficit			Year	Deficit
2001/02/01 - 2001/09/30	$ -53,129			2009/02/01 - 2009/09/30	$ 1,019,780
2002/09/30	$ 158,520			2010/09/30	$ 1,294,204
2003/09/30	$ 374,219			2011/09/30	$ 1,298,614
2004/09/30	$ 412,553			2012/03/30	$  778,988
2005/09/30	$ 318,615			2013/09/30
2006/09/30	$ 247,698			2014/09/30
2007/09/30	$ 162,833			2015/09/30
2008/09/30	$ 454,806			2016/09/30
2008/10/01 - 2009/02/01	$ 395,943			2016/10/01 - 2017/02/01
Totals:	$ 2,472,058			Totals:	$ 4,391,586

While not funny, note that President Obama's six months of deficit for FY2012 is 188% of President Bush's worst twelve month deficit.

And, for you Libs, by the time you vote for President Obama he will have doubled the entire Bush deficit is a mere four years.  Keep up the good work.  Pretty soon nobody will loan you clowns cash - it will be then fun to watch what you cut!!!

Yowser...

A Quick Update on the Deficit Destroyer...

It might seem impossible.

I'm not talking about our deficit hawk President blowing up the deficit, but this:

This Administration and Congress has actually increased the annual deficit EVERY YEAR.

We should all have more confidence in our politicians.

President Bush				President Obama
Year	Deficit			Year	Deficit
2001/02/01 - 2001/09/30	$ -53,129			2009/02/01 - 2009/09/30	$ 1,019,780
2002/09/30	$ 158,520			2010/09/30	$ 1,294,204
2003/09/30	$ 374,219			2011/09/30	$ 1,298,614
2004/09/30	$ 412,553			2012/09/30
2005/09/30	$ 318,615			2013/09/30
2006/09/30	$ 247,698			2014/09/30
2007/09/30	$ 162,833			2015/09/30
2008/09/30	$ 454,806			2016/09/30
2008/10/01 - 2009/02/01	$ 395,943			2016/10/01 - 2017/02/01
Totals:	$ 2,472,058			Totals:	$ 3,612,598

Black Swan President - Beware the Bunny!!!

Re(1): 'Monthly Treasury Statement', The U.S. Department of Treasury


Our accomplished Presidential Black Swan is still on a roll!!!

But, President Carter's Killer Bunny is back in the water. Watch out President!!!

I was going to post the fact that the Federal Gubmint Leviathan actually cut spending (on the sly. This President cannot state that fact openly;-}) in May and June. But, I had confidence our Presidential Spender would not mend his ways! And, I was right! His administration securitized assets from Federal retirement accounts - and, had to borrow over $240 Billion to pay it back. Oh well, I didn't have much hope.

But, he is doing something even the biggest spenders in history could not do.

<><><><><><><><>

President Bush				President Obama
Year	Deficit			Year	Deficit
2001/02/01 - 2001/09/30	$ -53,129			2009/02/01 - 2009/09/30	$ 1,019,780
2002/09/30	$ 158,520			2010/09/30	$ 1,294,204
2003/09/30	$ 374,219			2011/07/31	$ 1,099,901
2004/09/30	$ 412,553			2012/09/30
2005/09/30	$ 318,615			2013/09/30
2006/09/30	$ 247,698			2014/09/30
2007/09/30	$ 162,833			2015/09/30
2008/09/30	$ 454,806			2016/09/30
2008/10/01 - 2009/02/01	$ 395,943			2016/10/01 - 2017/02/01
Totals:	$ 2,472,058			Totals:	$ 3,413,885

Jimmy Carter had his Bunny Moment.

Our current President is waiting for his!

4th Turning Choices...

Re(1): 'The Long-Term Stakes of the Debt-Ceiling Fracas', Forbes, Brink Lindsey
Re(2): 'The Fourth Turning', William Strauss and Neil Howe
HT: RealClearMarkets

The referenced article is probably the best I have read on the debt ceiling and debt management topic.Basically, it comes down to Boomers not paying for their stuff. So, we have a range of options.

• Pay for the stuff
  


• Cut the stuff
  


• A Mix

Now, it might be important to remember that all you Boomers are asking the GenXers to pay the bill.

• On the positive side, GenXers are pragmatic, self-sufficient, practical, perceptive, and savvy.
  


• On the negative side, GenXers are tough, uncultured, amoral, and unfeeling.

In a '4th Turning' the Boomers will promote culture changing ideas, the GenXers will fight. We are watching that now.

In my opinion, we will watch much of the welfare state fat get wiped away in the next ten years. Remember, Boomers are of two minds. The Burlap Sack and Birkenstock archetype and the Gingrich archetype. You know where I stand. And, who has been winning the fight these last twenty years?

If I were to guess, this is in the wings:

• Balanced Budget - not an Amendment, just the hard choices
  


• A Flatter, less 'Progressive' Tax System - Everybody Pays for Stuff
  


• An increase in Medicare Taxes - Anyone think 2% pays for Medical Stuff
  


• A Cut in Social Security - With the Bush Option of investing part in the Market
  


• A Cut in Welfare Benefits - Leading off with Wiping out Benefits for Citizens of another Country
  


• A Cut in Defense Spending - But, with a Hard Headed Approach to Benefits, Strategy, and Material
  


• A Decimation of Federal Departments that Came into Existence During the 1970s 'Doing What Feels Right' Mood

In affect, the contraction of the Nanny State.I know there are other opinions, but how do you fight for a continuation of not funding your largess? Look back at the GenXers. Do you see hope there? Where are your knife fighters?

Outrunning the Radio - Not So Fast

Re(1): 'Ping', The Belmont Club, Richard Fernandez (Wretchard)
Re(2): 'Delete from TbPerp Where...', The Belmont Club, Richard Fernandez (Wretchard)

The old adage that you can't outrun a radio proved true once again this past weekend.

While folks are justifiably huzzahing our special forces and our intelligence services, a more basic axiom has presented itself.

The value of information, the speed of information, and the exploitation of information.

What Wretchard is postulating is that our military and intelligence services now process data into actionable information faster than the enemy can adjust. We are often inside the enemies OODA Loop. We will be hearing of a rollup soon enough.

And, for those who will soon decry the death of innocent victims at bin Laden’s house, a simple message:

'Don’t Dine With Terror Turds.'

We might be nearing the end of our 4th Turning. One that starts with a war and ends with a financial collapse.

I hope we can say ‘Been there, Done that…’

Hope, Change - Bring Out the Pretorian Guard!!!

Re(1): 'The Crusade of Innocents', The Belmont Club, Richard Fernandez (Wretchard)
Re(2): 'Anarchy is Back', Instapundit, Glenn Reynolds

So, the Left is dissatisfied...
And, their messaging dupes are hollering...

The Left places their hope for change in a man and the state. Inevitably, they fail to produce. Then either/both the man and the state are castigated. So much hope for so much change - and what is done never works. Thus, since what was wanted obviously works, the fault must lie with the man. Out with the old man, time for a new man. But, never a time for new ideas.

Bring out the Red Guard.
But, the Old Man suppresses the Red Guard.
In the end, all one can say with any accuracy is ‘Oh, well’.

Obama is a Miracle Man, a Miracle...

Re(1): 'Monthly Treasury Statement', The U.S. Department of Treasury

Note: These are actual numbers.

The One accomplished in 22 months what it took Bush the Chimp eight years. Less than two years from his immaculation, President Obama has created more debt than BusHitler's entire two terms. And, we have another six years to go!!!

President Bush				President Obama
Year	Deficit			Year	Deficit
2001/02/01 - 2001/09/30	$ -53,129			2009/02/01 - 2009/09/30	$ 1,019,780
2002/09/30	$ 158,520			2010/09/30	$ 1,294,204
2003/09/30	$ 374,219			2011/11/30	$ 290,826
2004/09/30	$ 412,553			2012/09/30
2005/09/30	$ 318,615			2013/09/30
2006/09/30	$ 247,698			2014/09/30
2007/09/30	$ 162,833			2015/09/30
2008/09/30	$ 454,806			2016/09/30
2008/10/01 - 2009/02/01	$ 395,943			2016/10/01 - 2017/02/01
Totals:	$ 2,472,058			Totals:	$ 2,604,810

He did it with Elan...

With Gusto...

Proud...


And, just think Libs, he could be around for another 74 months. Imagine the greatness.

He could even exceed Jimmy Carter...

Obama's Economic Miracle - FY2010

Re(1): 'Monthly Treasury Statement', The U.S. Department of Treasury

Note: These are actual numbers.

President Bush				President Obama
Year	Deficit			Year	Deficit
2001/02/01 - 2001/09/30	$ -53,129			2009/02/01 - 2009/09/30	$ 1,019,780
2002/09/30	$ 158,520			2010/09/30	$ 1,294,204
2003/09/30	$ 374,219			2011/09/30
2004/09/30	$ 412,553			2012/09/30
2005/09/30	$ 318,615			2013/09/30
2006/09/30	$ 247,698			2014/09/30
2007/09/30	$ 162,833			2015/09/30
2008/09/30	$ 454,806			2016/09/30
2008/10/01 - 2009/02/01	$ 395,943			2016/10/01 - 2017/02/01
Totals:	$ 2,472,058			Totals:	$ 2,313,984

As of the completion of FY2010 (just 20 months into Obama's Presidency) 'The One' is just $158 Billion away from BusHitlers 96 months of unforgivable deficit.

I have confidence.

It will be a stretch, but he should accomplish this feat in less than 1/2 of his first term.

Truely amazing...

The United Nations...

Re(1): 'A Second Point of View', The Belmont Club, John Fernandez (Wretchard)

When the 'United Nations' had teeth of steel and skin of armour...

It is truly amazing to hear the term 'United Nations' describing a victorious war machine forcing the surrender of a warrior culture.

Today the 'United Nations' is a toothless hag trying to capture the carbon footprint of warships built and sunk during that 'pointless' war.

Oh well...

He Gave it 'The College Try!'

Re(1): 'Monthly Treasury Statement', The U.S. Department of Treasury

Note: These are actual numbers.

President Bush				President Obama
Year	Deficit			Year	Deficit
2001/02/01 - 2001/09/30	$ -53,129			2009/02/01 - 2009/09/30	$ 1,019,780
2002/09/30	$ 158,520			2010/08/31	$ 1,294,090
2003/09/30	$ 374,219			2011/09/30
2004/09/30	$ 412,553			2012/09/30
2005/09/30	$ 318,615			2013/09/30
2006/09/30	$ 247,698			2014/09/30
2007/09/30	$ 162,833			2015/09/30
2008/09/30	$ 454,806			2016/09/30
2008/10/01 - 2009/02/01	$ 395,943			2016/10/01 - 2017/02/01
Totals:	$ 2,472,058			Totals:	$ 2,313,870

Probably missed his milestone by just a month!

How could Congress get wiped out when they were so close!!

Only $158 Billion till President Obama equals BusHitlers eight years of effort!!!

He's Going to Do It!!!

Re(1): 'Monthly Treasury Statement', The U.S. Department of Treasury

Note: These are actual numbers.

President Bush				President Obama
Year	Deficit			Year	Deficit
2001/02/01 - 2001/09/30	$ -53,129			2009/02/01 - 2009/09/30	$ 1,019,780
2002/09/30	$ 158,520			2010/08/31	$ 1,259,597
2003/09/30	$ 374,219			2011/09/30
2004/09/30	$ 412,553			2012/09/30
2005/09/30	$ 318,615			2013/09/30
2006/09/30	$ 247,698			2014/09/30
2007/09/30	$ 162,833			2015/09/30
2008/09/30	$ 454,806			2016/09/30
2008/10/01 - 2009/02/01	$ 395,943			2016/10/01 - 2017/02/01
Totals:	$ 2,472,058			Totals:	$ 2,279,377

Can President Obama do the impossible!!!

He has just one month to spend $192,681 Billion more than his administration brings in. And, he is hampered by the fact that September is normally a revenue month.

It will take 'The Black Swan Event' (President Obama) 21 or 22 months to accomplish what it took the Chimp (President Bush) 96 months to accomplish.

The era of fiscal responsability is here!!!

LibTard Ideas and Ideology Aren’t Bad, But Morons Implement Them...

LibTard Ideas and Ideology Aren’t Bad,

Its just that we always have incompetent boobs implementing them…

Now comes the very predictable recriminations from the ideological Left:

• 1938 In 2010, NYT, Paul Krugman
• One Nation, Two Deficits, NYT, Peter Orszag
• Obama's Foreign Policy Has Failed, The Daily Beast, Peter Beinart
• Democrats Fleeing Obamacare, The Weekly Standard, Jeffery H. Anderson
• Right Response to Unemployment Is Smart Stimulus Spending, The Nation, John Nichols

And, that's not all. However, I only have 30 seconds to sell you the Clapper, Ginsu Knives, and two days of Liberals blaming Obama for the failures of their ideology. All this for three low, low payments of $19.99.

In summary:
LibTards always have faith in socialist ideals, but those ideas always seem to have dipshits implementing them.

That is why they fail.

Every time.

Yup

The Grandson of Porkulus

Re(1): 'Obama wants $50 billion to beef up infrastructure 'as soon as possible'', The Hill, Darren Goode and Bridget Johnson
Re(2): 'Obama to propose $50 billion in infrastructure spending for stimulus', Hot Air, Ed Morrissey

To allow we Americans to blissfully avoid the coming debt repayment crunch our glorious Baby Boomers have inflicted upon us, our Fearless Baby Boom Leader proposes another splurge of infrastructure spending.

He wants to borrow $50 Billion to cover additional shovel ready infrastructure projects.

Just 18 months ago he pushed through $787 Billion in borrowed Porkulus spending – which he promised toward infrastructure shovel ready projects.

After his Democratic Congress got through with it there was about $105 Billion committed to ‘infrastructure’. Actually, not even that:

“The original Porkulus had $105 billion in so-called “infrastructure investments,” and none of it produced any economic growth. Transportation accounted for $48 billion; energy infrastructure and R&D got the same amount of money. Housing got $10 billion.”

So, the “Black Swan Event” President has just found another dump load of shovel ready Porkulus. A new and bold approach to solving our economic problems. Straight out of the 1930s. And, if I may comment, how many workers does an infrastructure project require. Answer: far fewer than required in the 1930s. What a goober.

My statement to the “Black Swan”:

I don't want this guy - or this Congress - touching another borrowed dollar.

The Era of Fiscal Responsibility!!!

Re(1): 'Monthly Treasury Statement', The U.S. Department of Treasury

Note: These are actual numbers.

President Bush				President Obama
Year	Deficit			Year	Deficit
2001/02/01 - 2001/09/30	$ -53,129			2009/02/01 - 2009/09/30	$ 1,019,780
2002/09/30	$ 158,520			2010/07/30	$ 1,169,071
2003/09/30	$ 374,219			2011/09/30
2004/09/30	$ 412,553			2012/09/30
2005/09/30	$ 318,615			2013/09/30
2006/09/30	$ 247,698			2014/09/30
2007/09/30	$ 162,833			2015/09/30
2008/09/30	$ 454,806			2016/09/30
2008/10/01 - 2009/02/01	$ 395,943			2016/10/01 - 2017/02/01
Totals:	$ 2,472,058			Totals:	$ 2,188,851

August is normally a deficit month. The normal deficit for August is somewhere around $70 Billion (inflation adjusted). My guess is that our fiscally responsible President and his Congress will dramatically 'improve' on that normal - making it 'The New Normal'...

Where does that leave our Responsible President and Congress?

With a deficit of a mere 283,207 Billion for the month of August they will match in 19 months what took that piker Bush 96 months.

Amazing!!!

That is Change We Can Believe In!!!

See those specks, up in the air, a Black Swan?

Re(1): 'Fire and Ice', The Belmont Club, Wretchard
Re(2): 'Engagement Queue', The Belmont Club, Wretchard

There is a difference between Risk and Uncertainty...

University of Chicago Professor Frank Knight described the distinction between risk and uncertainty in these words. “Uncertainty must be taken in a sense radically distinct from the familiar notion of Risk, from which it has never been properly separated…. The essential fact is that ‘risk’ means in some cases a quantity susceptible of measurement, while at other times it is something distinctly not of this character … It will appear that a measurable uncertainty, or ‘risk’ proper, as we shall use the term, is so far different from an unmeasurable one that it is not in effect an uncertainty at all.” In other words, Knight wanted to differentiate between risks we could measure and those which we could not estimate. Donald Rumsfeld conveyed the same idea much more eloquently and comprehensively.

As we know,
There are known knowns.
There are things we know we know.
We also know there are known unknowns.
That is to say, we know there are some things we do not know.
But there are also unknown unknowns, the ones we don’t know we don’t know.

The Black Swan event is not a risk, it is an unmeasurable uncertainty. We have lived through a few Black Swans in the last decade. This stock market - which actually feels rather like a standard growth market - is with high probability measurable, and thus has risk. We may get a 10% contraction - a correction - but, that is normal and measurable and acceptable. A market move like that is NOT uncertain. It will happen. It is not the Black Swan of new crash.The Black Swan event that is setting up will be the 'leaker' that gets through the defense. I don't think the next Black Swan will be the same one we just saw. We have multiple inbounds, multiple adversaries, and discordant directors. As Wretchard states:

Yet with events coming at a fast and furious pace it will always be problematic whether the response will be quick enough; or whether a “leaker” will get through to change the game even faster than is happening now. Emergence tends to throw curve balls. They also tend to speed up the ball-throwing machine. In some things people must trust to luck, not just to avoid dangers but to seize opportunities.

But luck favors the ready.

Things seem to be moving rapidly.

Keep your head on a swivel.

Look, talk on defense.

Be ready...

Looking Forward to 2011 Already...

The evil BusHitler's great tax giveaway to the corpulant wealthy of Nazi America is about to sunset...

On this very day next year the pathetic slugs that stole so much over the past decade will be taxed at the same rates as they were during 'The One' administration prior to "The One's administration". Here is a comparison for folks filing as Married Filing Jointly:

I know this looks like everybody is getting jobbed, but that just ain't so. Those rich bastards (and their families) making a hundred G's will get whacked for $3,464 more per year. So what if you get knocked up for an additional $2,560 a year. You can handle it. It's just $215 less take home pay for the month. What is that - gas, electricity, food. Just cut the fat and enjoy the schadenfreude.

This example of justice is inflation adjusted (uses 2009 dollars), uses the 2009 tax schedule, and uses a 2000 inflation adjusted tax schedule to demonstrate this power to the people moment.

And, lookie here everybody.

That Moronic BushChimp sunsetted his tax giveaway just after folks vote in November 2010. Just after the vote. Nobody will be talking about it before it happens. And, nobody will be adjusting their taxable income either till after it hits em.

What a waste of air!!

What an idiot!!!

Chimp!!!

Single Plier Health Care...

Re(1): 'A Land Fit For Heroes', The Belmont Club, Richard Fernandez

Re(2): 'Man pulls out 13 of his own teeth with pliers 'because he couldn't find an NHS dentist'', The Daily Mail





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