Friday, April 24, 2009

The POR economy.

From a Chicago paper, of all places, we learn that tax receipts are down 14 percent this year over last year.
This year, it’s shaping up to be the “Bailout Year Bummer.” Uncle Sam’s fiscal year began on October 1 of last year, mere days before Congress passed the legislation that has come to be known as TARP, and a bit more than three months after Nancy Pelosi, Barack Obama, and Harry Reid promised to starve the economy of energy and punitively tax its highest producers, creating what I have since called the POR (Pelosi-Obama-Reid) Economy.

Through March, federal receipts were running 14% behind the previous year. Each month during the fiscal year has trailed the previous year, and degree of the difference has steadily increased.
I was pissed at President Bush over the bailout, because he's a smart guy, has an MBA, and was supposed to know better. I'm not pissed at President Obama over the bailout, because he's a lawyer, a socialist, and doesn't have a clue what he's doing. Being pissed at Obama over the economy is like being angry at the retarded guy who does what is in his nature. Be pissed at the handlers. The retarded guy can't help it.

I am pissed at folks like Geithner, who should have a clue what they're doing. Guys and gals like Geithner should be standing on the president's desk every day shouting "What the hell are you doing?" Advisers are supposed to ... advise... not be a yes man. Every time I look at Geithner, I feel like he's going to get on his knees in front of Obama and beg. The guy looks like such a twit. And, he's performing like a twit.

SO, Pelosi, Reid, and Obama promised to starve the economy of energy and punitively tax the best producers. Suddenly, tax receipts are down. How's that working out for you?

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