US speeding towards financial crash
posted at 9:24 am on May 13, 2009 by Ed Morrissey
Two related stories signaled investors today to push the dollar lower in overseas trading last night. First, former GAO chief David Walker notes a bond warning from Moody’s that US Treasury bonds may lose their top rating — and that could cost us dearly:
Long before the current financial crisis, nearly two years ago, a little-noticed cloud darkened the horizon for the US government. It was ignored. But now that shadow, in the form of a warning from a top credit rating agency that the nation risked losing its triple A rating if it did not start putting its finances in order, is coming back to haunt us.
That warning from Moody’s focused on the exploding healthcare and Social Security costs that threaten to engulf the federal government in debt over coming decades. The facts show we’re in even worse shape now, and there are signs that confidence in America’s ability to control its finances is eroding.
Prices have risen on credit default insurance on US government bonds, meaning it costs investors more to protect their investment in Treasury bonds against default than before the crisis hit. It even, briefly, cost more to buy protection on US government debt than on debt issued by McDonald’s. Another warning sign has come from across the Pacific, where the Chinese premier and the head of the People’s Bank of China have expressed concern about America’s longer-term credit worthiness and the value of the dollar.
Why does McDonald’s make a better risk? McDonald’s doesn’t run massive deficits. And the Chinese are right to be worried about their investments, as the AP reports on how much worse those deficits will become, and much sooner than the political class admitted:
Social Security and Medicare are fading even faster under the weight of the recession, heading for insolvency years sooner than previously expected, the government warned Tuesday. Social Security will start paying out more in benefits than it collects in taxes in 2016, a year sooner than projected last year, and the giant trust fund will be depleted by 2037, four years sooner, trustees reported.
Medicare is in even worse shape. The trustees said the program for hospital expenses will pay out more in benefits than it collects this year, just as it did for the first time in 2008. The trustees project that the Medicare fund will be depleted by 2017, two years earlier than the date projected in last year’s report.
The trust funds — which exist in paper form in a filing cabinet in Parkersburg, W.Va. — are bonds that are backed by the government’s “full faith and credit” but not by any actual assets. That money has been spent over the years to fund other parts of government. To redeem the trust fund bonds, the government would have to borrow in public debt markets or raise taxes.
As the boss recalls this morning, George Bush tried in 2005 to warn about the looming crisis in entitlements. What kind of response did that get? Democrats like Harry Reid accused Bush of fearmongering and panic, and assured Americans that “the so-called Social Security crisis exists in only one place — the minds of Republicans. In reality, the program is on solid ground for decades to come.”
Obviously not. Last month, I noted several more of those Democratic demurrals in 2005, along with the news that Social Security surpluses have already disappeared. As I wrote earlier, Treasury’s website shows that we lost money in February for the first time ever — and that will only get worse as the economy slows, unemployment rises, and more people start drawing Social Security.
Why did this hit the dollar today? If the US loses its top rating as a bond issuer — which really only means as a borrower — we will have to pay higher interest rates on our bonds in order to attract investors. This has already started to happen even with the top rating, but a markdown will force the issue. That will make our debt service significantly higher than we anticipated at either the OMB or the CBO, and these deficit projections will start extending a lot farther downward in the next couple of years:
Not only will the deficits increase, the cost of deficits will increase, and eventually the debt service will become the biggest part of the federal budget — unless Washington massively increases taxes to close the gap.
And that is why Tea Parties have erupted across America. The free-spending policies of today will lead to massive taxation or collapse in the near future, and anyone with a calculator and an iota of sense can see it.
Blowback
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We really have to step away from the Keynsian, welfare-state, economic model.
It’s killing us.
I regret the fact that his ideas ever came to be.
blatantblue on May 13, 2009 at 9:27 AM
It looks like we just ran out of other people’s money.
Mojave Mark on May 13, 2009 at 9:29 AM
Democrats: Turning comedy into tragedy (for everyone)
Ahhh, yes…..The workings of Dr. Obama, DDS.
Death
Dependency
Slavery
/sarc
Dr.Cwac.Cwac on May 13, 2009 at 9:29 AM
If we don’t do something, we’re going to see the end of America. How can a nation with virtually no economic strength even exist?
When the collapse comes — which it certainly will — we will cease to exist as we have for so long.
The age of third worldism will finally shadow America.
blatantblue on May 13, 2009 at 9:30 AM
Lies, Ed! You are peddling lies!
I spent some time with a Democrat Obama voter on Mother’s Day and she told me that things are getting better and that the economy is in full recovery mode. When I asked her how she came to think that, she replied that she reads the newspaper and watches the news.
myrenovations on May 13, 2009 at 9:30 AM
Time to print more greenbacks!!
We are soooooo farked…
Tim Zank on May 13, 2009 at 9:31 AM
well the bright side is we’ll be the largest nuclear capable third world hellhole history has ever seen….
sven10077 on May 13, 2009 at 9:31 AM
Saved this exact graphic on my MacBook a month ago. This is a suckers rally and the credit card bill has not come due, incredibly Obama continues to propose more spending. I am not waiting for Republicans, this time. I will vote for conservatives or I will not vote. The lesser of two evils is still evil. I will not vote for another evil Republican. McCain, I talking about you.
Angry Dumbo on May 13, 2009 at 9:31 AM
Are you saying you’re not down with OPP? (Yeah, you know him)
Who’s down with OPP? All the lazies.
Dr.Cwac.Cwac on May 13, 2009 at 9:31 AM
I’m not about to assume it’s not all completely intentional.
TheBigOldDog on May 13, 2009 at 9:31 AM
Quit being an eeyore, Ed. You’re forgetting Obama is a magician.
promachus on May 13, 2009 at 9:32 AM
This whole thread is raaaaaaaaaaaaacist.
I blame global warming.
Dr.Cwac.Cwac on May 13, 2009 at 9:33 AM
Oprah…time to step up and pay your fair share, you are worth billions, time for you and your Hollywood friends to let go of some of the millions and billions.
I say everyone worth more then 1 billion, and earns more then 5 million per year, donate the balance back to Obama to help him out.
And anyone worth more then 5 billion, send the balance to Obama…he can’t allow the rich to prosper, while the rest of us are starving and suffering.
1 Billions dollars, and 5 million a year, is more then enough for anyone to live off of…
right2bright on May 13, 2009 at 9:33 AM
Agreed
Does anyone else find it interesting that the closer we come to “
reformingstarting Obamacare,” the more these stories are being “discovered?”Upstater85 on May 13, 2009 at 9:34 AM
George Bush may have “warned” us over Social Security. Regardless, he let his politico Rove play games with entitlement spending, and as part of his permanent republican majority pushed for the prescription drug benefit.
The entitlement disaster spans decades and indicts both parties. This is not to excuse Obama’s actions thus far, but I see tons of comments that imply the democrats are solely responsible for entitlements sucking all the oxygen out of the budget. This is simply not true.
Republicans, being the party that campaigns on smaller government, still have a real responsability to act on their message and end entitlements for all but the most needy elderly. One cannot be justified in raging that democrats will never do that…when democrats NEVER told us they would. They always campaign on propping up these programs, so when they do so, why rage? Rage on the supposed conservatives that not only defrauded the government itself, but the american people, each and every one, that voted for them.
ernesto on May 13, 2009 at 9:34 AM
Nope. We’re going to be a nuke free zone. We’ll probably just sell them to Iran or something.
myrenovations on May 13, 2009 at 9:35 AM
The joke’s on my generation. The smelly old hippies bankrupted us before we could even vote. Spending our money before we had a voice. I hate statists. So. Much.
Gunhaver on May 13, 2009 at 9:35 AM
But, uh, er, …
Yeah, the GOP better start getting their act together and offering real ideas or this country is ruined…
Upstater85 on May 13, 2009 at 9:35 AM
Remember, Ed, OPrompta inherited this recession. It’s all Bush’s fault.
Dr.Cwac.Cwac on May 13, 2009 at 9:36 AM
Heck no, If we must live like animals, I’d rather live like top-notch animals… nuke the others (BIG ///SARC)
Upstater85 on May 13, 2009 at 9:36 AM
There really isn’t an escape. Our money will be very soon, worthless as an international monetary instrument. We won’t be able to move to New Zealand or anywhere else for that matter. Time to stock up on hard assets like food, guns and ammo. Better yet, the American people soon need to awaken from this nightmare and take control. Time for a separate nation?
hip shot on May 13, 2009 at 9:36 AM
LOL — indeed.
It’s very frightening, this whole mess. When economies collapse, the conditions are ripe for pillaging, civil unrest, and the rise of tyrants.
blatantblue on May 13, 2009 at 9:36 AM
His 100 days are up… I’m starting to forget who Bush was… I only know that Bush helped Nancy torture innocent people ;)
Upstater85 on May 13, 2009 at 9:37 AM
Clearly we must print more money!
carbon_footprint on May 13, 2009 at 9:38 AM
Such a shame the Republicans don’t even talk about these things.
They are too afraid to offend AARP and their legions of blue-haired elder-minions.
How pathetic is that?
Then again, the GOP is just a bunch of old morons anyway, so who am I kidding?
blatantblue on May 13, 2009 at 9:39 AM
Weimar or bust, am I right, Obarfy?
blatantblue on May 13, 2009 at 9:39 AM
I don’t see how we are speeding towards a financial crash with the smartest people on the planet, hell, in history at the helm?? Say it aint so?
I wish I was an intellectual so I could just wallow in ignorance.
javamartini on May 13, 2009 at 9:40 AM
So are you guys in favor of raising taxes or cutting benefits (perhaps we can raise the age a couple years and nuke that prescription drug clusterf***)? Maybe both and be extra responsible.
jonknee on May 13, 2009 at 9:40 AM
Gee, maybe this massive trillion dollar spending wasn’t such a good idea after all? Maybe, just maybe, the administration will start reigning in some of this out of control spending and start trying to balance the budget. Oh right, that’s just what normal everyday families would do in a financial crisis…stop spending and start saving. The government? Business as usual. Maybe Obama will be the first president without any money to budget with.
scalleywag on May 13, 2009 at 9:40 AM
I’m going to ponder the end of the Great American Age over a bowl of Cheerios–while I still can.
pugwriter on May 13, 2009 at 9:40 AM
Weimar Republic 2.0.
Dr.Cwac.Cwac on May 13, 2009 at 9:41 AM
Eh… the more Specters that leave that party the better shot we have of someone manning up and b*tch slapping AARP.
Upstater85 on May 13, 2009 at 9:42 AM
its not as bad as the debt doomsday industry makes it sound though, alot of the fear is to sell books or politics.
Most of the assumptions drawn are using 5 Centuries old Accounting Standards: Single Entry Accounting.
Under Double-Entry accounting, things aren’t near as doomsdayish and the key is economic growth.
jp on May 13, 2009 at 9:42 AM
MESSAGE TO DEMOCRATS:
KEEP YOUR FILTHY PAWS OFF MY HEALTHCARE.
If the illegals are bankrupting the system, then send them home.
bloggless on May 13, 2009 at 9:42 AM
They saved $$$ by not having dessert. They donated the funds to a homeless shelter. At least the correspondents are “sharing in the sacrifice”.
Dr.Cwac.Cwac on May 13, 2009 at 9:42 AM
America will not become a third world country. Your enemies will not let you.
As soon as you are weak enough …
OldEnglish on May 13, 2009 at 9:43 AM
And in Austrian, that would be pronounced Weeeemah, right?
Upstater85 on May 13, 2009 at 9:43 AM
No, ernesto, a lot of us were complaining about Social Security under Bush. Heck, even Daniel Patrick Moynihan in the 1970s, as a Democrat, was complaining about it. And W. at least tried to get a discussion going, which is more than Clinton, Dear Leader, or any of the current crop of Democrats did. Even Al Gore’s “lock box” was nonsense.
The rage against Democrats is that they have continued to claim there is no problem when anyone with an ounce of common sense has to have known there is a huge problem. That means Democrats are either 1) stupid or 2) outright liars.
So ernesto, which of those options do you think Democrats are?
rbj on May 13, 2009 at 9:46 AM
Unless this o0ut of control mindless spending is stopped soon, it’s spells disaster for every American.
And yes, I think it is all planned.
tarpon on May 13, 2009 at 9:46 AM
Only if its not a toomah
blatantblue on May 13, 2009 at 9:46 AM
Backlash; it’s coming… Even a Liberal nutter doesn’t like to have their personal belongings stolen from them.
Keemo on May 13, 2009 at 9:46 AM
I’ve lived and worked in third world hell holes and gee, I think I’m seeing a large third world hell hole appear all around me in the US. Can this really be happening, am I in the twilight zone?
hip shot on May 13, 2009 at 9:46 AM
I’m not sure how you pronounce it in Mexican.
Dr.Cwac.Cwac on May 13, 2009 at 9:47 AM
+1
bluelightbrigade on May 13, 2009 at 9:47 AM
I’d advise getting into the beer and spirits industry…
Let the heavy drinking commence.
Techie on May 13, 2009 at 9:48 AM
This was one of Jack Kemps favorite blogs, or so he recommended once in a column.
there review on David Walker’s I.O.U.S.A. documentary
http://www.optimist123.com/optimist/2008/08/movie-review-of.html
jp on May 13, 2009 at 9:48 AM
Be prepared to protect your home – and bury CASH in the yard.
jake-the-goose on May 13, 2009 at 9:48 AM
Mmhmm. Asking or expecting democrats to pull their linchpin (social safety net) is ludicrous. The GOP is supposed to be the party that balances left wing pushes for more social safety nets and redistribution. When they get in on the action instead of acting their part, its doubly bad for the american people.
ernesto on May 13, 2009 at 9:49 AM
See, that would be too easy……and too raaaaacist.
I’m glad you didn’t finish your opening quote with the “damn dirty apes” line because that would be raaaaacist, too.
Dr.Cwac.Cwac on May 13, 2009 at 9:49 AM
Duh. These things are so simple that the average 4th grader should be able to see the problems here, even if they don’t understand stuff like credit ratings. I should know; I teach music students on a private basis, and a bunch of them are 4th graders!
If it’s 4th grade simple, why, then, can’t the Democrats see the problems? It’s not even that they’re looking for the problems and missing the forest for the trees. In truth, they’re covering their ears, closing their eyes, and shouting “La, la, la, cap’n trade, global warming, Gitmo torture, la, la, la…” using kindergarten logic. That’s the logic that goes, if you refuse to see or hear the problem, then the problem isn’t there.
We’re preaching in the form of tea parties, blogs, and plenty of other ways, and they’re covering their ears, closing their eyes, and singing. How else could Obama “miss” the fact that a million people tea-partied?
I quietly hope that Moody’s DOES downgrade us, and quickly. It will further the angst among all of us and those reasonably minded enough to come to understand what we’re saying. It will further the outrage when the Obamacrats continue floating their reckless debt to a point that it can’t be ignored. Perhaps doing so would have the same effect as the parents’ picking up the kindergartener, removing hands from ears, and continuing the lecture while taking them for a time-out (as you can’t spank anymore, I suppose).
Not to self-inflict pain, but I also wouldn’t mind the return of $3-$4 gas for a while. W’s approval rating’s ups and downs were proven to be related directly to the fluctuations in prices at the pump. I wouldn’t mind having to pay a bit more for a while in exchange for taking away the political capital in the form of 60% approval ratings for Obama. He’d try to convince us that it’s good for us, and I can’t imagine that people would buy that line willingly even from him. How he can be above 40% right now is mind-boggling, and I’d like to see anything with enough oomph to drag him back down to earth.
flutejpl on May 13, 2009 at 9:51 AM
Sure the country may be falling into a pit, but at least you got your Crown Vic, funship cruise to Alaska, and the ecstasy of dumping millions of dollars into video poker machines.
Thanks, you greedy, grasping, ossified leeches.
TMK on May 13, 2009 at 9:51 AM
Inflation makes burying cash in your yard counterproductive.
Planting a money tree is where it’s at.
Techie on May 13, 2009 at 9:51 AM
Barry’s pathological approach to spending is going to bankrupt the economy. He will still blame Bush. The leadership of both parties is incompetent. Socialism looks appealing when it is the only option left. Scary to think the left may be bringing the country to its knees for just that purpose.
volsense on May 13, 2009 at 9:51 AM
CASH??
Well I guess you might need something to start fires with. Because cash will be worthless in a hyper-inflationalry enviroment.
sonofdy on May 13, 2009 at 9:53 AM
Anyone else think that Team Obama wouldn’t LET Moody’s downgrade the bond rating?
Techie on May 13, 2009 at 9:53 AM
Given your framing, stupid. They have an entire thought and data structure that backs up their tendencies towards redistribution and safety nets. They’ve internally made it all work, the failures of raw capitalism, the essential responsibility of government to care for the very poor…these beliefs come as a full package, one that justifies all those tendencies with actual data, however skewed.
The GOP has reality on its side in this fight. That they threw that by the wayside in a misguided attempt at total political dominance is a more grievous policy failure than the party of welfare twisting into knots defending it.
ernesto on May 13, 2009 at 9:54 AM
The government needs to be reduced by 2/3. It needs to get out of the health care and retirement business as well as private business as much as humanly possible.
echosyst on May 13, 2009 at 9:55 AM
If more than half of the country continues thinking like that, we’re farked.
flutejpl on May 13, 2009 at 9:55 AM
Now that Democrat Party baby is sick, really sick. They’re the ones who should be in charge of fixing it. Come on, Barack. Whatchagonnado?
ddrintn on May 13, 2009 at 9:55 AM
And Charlie Crist still supported porkulus. How can we believe Republicans will be any better on spending when they back a porker like Crist in the primary for goodness sakes? We can’t. The Tea Parties were about spending and the NRSC, Charlie Crist and the Republicans are no better than Dems on spending.
Angry Dumbo on May 13, 2009 at 9:55 AM
You Obama jerk drones!
The screw up in the White House is now going to pass Socialized health care. We are officially a banana republic.
jencab on May 13, 2009 at 9:55 AM
Well, that rules out the Obama administration.
Paradox Drive on May 13, 2009 at 9:56 AM
In a CNN poll – 51% of people are depending upon Social Security for their retirement. Newsflash – if any of you 51% voted for Obama & democrats then you need a reality check.
Question:
Which Political Party took Social Security from the Independent ‘Trust Fund’ and put it into the General Fund so that Congress could spend it?
Answer:
It was Lyndon B. Johnson (Democrat,Term of Office: November 22,1963 to January 20, 1969) and the democratically Controlled House and Senate.
Question:
Which Political Party eliminated the income tax Deduction for Social Security (FICA) withholding?
Answer:
The Democratic Party.
Question:
Which Political Party started taxing Social Security annuities?
Answer:
The Democratic Party, with Albert Arnold Gore, Jr. (Al Gore) [Vice President Term of Office: January 10, 1993 to January 20, 2001] casting the ‘tie-breaking’ deciding vote as President of the Senate, while he was Vice President of the US ….
Question:
Which Political Party decided to start giving Annuity payments to immigrants?
ANSWER:
That’s right! JAMES EARL CARTER, JR. (jIMMY CARTER) (DEMOCRAT, TERM OF OFFICE: JANUARY 20, 1977 TO JANUARY 20, 1981 AND THE DEMOCRATIC PARTY.
IMMIGRANTS MOVED INTO THIS COUNTRY, AND AT AGE 65, BEGAN TO RECEIVE SOCIAL SECURITY PAYMENTS: THE DEMOCRATIC PARTY GAVE THESE PAYMENTS TO THEM, EVEN THOUGH THEY NEVER
PAID A DIME INTO IT!
Then, after violating the original contract (FICA), the Democrats turn around and tell you that the Republicans want to take your Social Security away!
izoneguy on May 13, 2009 at 9:56 AM
Stop being so uptight… go with the flow… Big Government is like so kewl now ~~~ Powell reaching out to the youth.
Upstater85 on May 13, 2009 at 9:56 AM
I look at Crist and I see an empty suit.
blatantblue on May 13, 2009 at 9:56 AM
Okay, enough already. I want a do-over. Now that we’ve had over 200 years to FUBAR this constitutional experiment, we need to go back to square one. Let’s evaluate what went wrong, fix it, and start again.
Puddleglum on May 13, 2009 at 9:57 AM
blatantblue on May 13, 2009 at 9:27 AM
How was the final?
Amazing that rednecks across the fruited plain can clearly see this but the Ivy League buffoon in the White House can’t – or won’t.
ladyingray on May 13, 2009 at 9:57 AM
This is probably just an all-too-convenient excuse for a government grab of the health care sector.
ddrintn on May 13, 2009 at 9:57 AM
ernesto READ this entry:
izoneguy on May 13, 2009 at 9:56 AM
izoneguy on May 13, 2009 at 9:58 AM
There
Upstater85 on May 13, 2009 at 9:58 AM
I look at Crist and I see an empty suit.
blatantblue on May 13, 2009 at 9:56 AM
Presidential material!
hip shot on May 13, 2009 at 9:58 AM
Well, I better take care of my wall…
HEY!!
WHERE’S MY WALLET..!!??
ujorge on May 13, 2009 at 9:59 AM
It actually went very well — I just got done writing about Keynesian economics so I’m very amped up right now about this Social Sec Shi’ite. Got up at 4:50 this morning, got to campus by 7, so I had an hour to study. Thanks for asking :D
“You might be a redneck, if you realize that spending more than you actually have is a bad thing!”
blatantblue on May 13, 2009 at 9:59 AM
Where are the trolls to say,
“Ah, but you guys let Bush do this…” ???
Oh, they might be cashing in their welfare checks today – gotta pay for that internet access…
Upstater85 on May 13, 2009 at 9:59 AM
I do wish you trolls would stay in mama’s basement and play with yourself instead of us. You make stupid, untrue, and outrageous statements as if they were facts. I suppose the old morons you are talking about are: George Soros, Ted Kennedy, Robert KKKByrd, Madeline Albright, Dingy Harry Reed, SanFran Nan, Jesse Jackson, Barney Frank, all kleptocrats of retirement age. If you bothered to check demographics, you would see that there are few differences among the parties agewise, but you keep making insulting remarks. Don’t worry, your retirement will come in about 40 years and Obama’s policies will require that you be put down so you won’t be a burden on the rest of us!
Old Country Boy on May 13, 2009 at 9:59 AM
+100
Awesome on a stick with awesome sauce.
DeweyWins on May 13, 2009 at 10:00 AM
if Kurzweil’s economic growth projections, which are optmistic, come true then Economist Arnold King described the fiscal problem as:
our survival is all about Economic Growth
jp on May 13, 2009 at 10:00 AM
Obama Healthcare Plan will go like this:
Every hospital, clinic, Dr. Office, will have two doors. One for the Elites and one for the rest of us. You know,
SEPERATE BUT EQUAL. Same concept. I’ll will agree to government healthcare when Nasty Pelosi has to wait in the waiting room with me. And that will never happen.
bloggless on May 13, 2009 at 10:00 AM
Dude, Blue’s not a troll…
Upstater85 on May 13, 2009 at 10:01 AM
For the most part that was done in 1861 with the Confederate Constitution (sans slavery provisions).
WashJeff on May 13, 2009 at 10:01 AM
Those Marxist intellectuals have been planning this for 60 years.
You know actually wars & fighting cause a lot of blood to flow.
Obummer is the perfect straw man for the coming dictator.
We can fight and take it back through legal elections or we will fight
a real war with bullets & blood… it is their choice.
izoneguy on May 13, 2009 at 10:01 AM
Hey, has anyone seen Spitzer’s campaign to become an O-bot? The left is getting all hot and bothered about the prospects of Spitzer
prosecuting AIG execs for buying sexregulating the economyUpstater85 on May 13, 2009 at 10:03 AM
Your wallet: The only place Democrats want to drill
Dr.Cwac.Cwac on May 13, 2009 at 10:03 AM
Well, I hate to c*ck block, but I am no troll. A troll hunter by trade, actually.
As for my “untrue” statement; it isn’t. The GOP is a bunch of morons, many of them old, indeed.
Why are you assuming I don’t feel the same about the Demon-cats? I do, but I’m more angry at the GOP because they are betraying our ideals. The Democrats — I expect the insanity that comes from them. I don’t like it anymore than you do, but they wear no mask.
blatantblue on May 13, 2009 at 10:03 AM
A perfect storm……..economic crisis coupled with Obama welfare mentality. There is no way this is going to work out well.
When you incent welfare class people to not only lay on their butts, but also make welfare class babies a cash crop, you create millions more flunkies locked into the cycle of government dependency at the expense of hard working acheivers that studied in school and took responsibility for themselves.
Throw in 20 million immigration cheaters and thieves sucking the public breast and you have a quad perfect storm of a social crash, both economically and culturally.
Its a sad day for the once great United States of America. We need a new political party quick.
saiga on May 13, 2009 at 10:04 AM
uh, er, ah…
Upstater85 on May 13, 2009 at 10:04 AM
Where can I get the T-shirt?
ladyingray on May 13, 2009 at 10:04 AM
I’m suddenly hearing Erick Avari from The Mummy, in regard to President Obama: “Give me frogs, flies, locusts — anything but you. Compared to you, the other plagues were a joy!”
ScaryBiscuits on May 13, 2009 at 10:04 AM
Which is exactly what Obama and the majority of Democrats DO NOT want. They need the sh!t economy to increase control of the people and increase dependency on gubmint.
They are not about to let another good crisis go to waste.
Dr.Cwac.Cwac on May 13, 2009 at 10:04 AM
Future campaign pledge, my staff will only include graduates of Big 10 and Big 12 schools.
WashJeff on May 13, 2009 at 10:05 AM
:D — Guy’s just wrapped up in the emotion of things. I can understand it, but it must be avoided.
In that creepy old van in the lot behind your work building.
Says “Free T-Shirts” on it
blatantblue on May 13, 2009 at 10:05 AM
Bush was so concerned about the looming crisis in entitlements he created another one. Just like Obama has to pay off his union buddies Bush had to pay off his big pharm buddies and until we get rid of these political leaches the problem will continue.
Socmodfiscon on May 13, 2009 at 10:06 AM
Hey, hey, HEY! Leave cats out of this. They don’t hurt anyone.
I do like the “Demon” part though. LOL
ladyingray on May 13, 2009 at 10:06 AM
You’re never going to get rid of political leaches… plus I think they have the right to lobby… We just need to hold Bush accountable for caving in.
Upstater85 on May 13, 2009 at 10:07 AM
Perhaps you are right — cats do not hurt anyone, but cougars do.
blatantblue on May 13, 2009 at 10:07 AM
Yeah, where’s the Feral Cat to defend them?
Upstater85 on May 13, 2009 at 10:08 AM
And we can sell them for about $350 million each!!! The train can keep going!!
////sarc
I guess it’s like I told my friends, if the worst case happens at least I’m well armed and I’ll just take what I want. So I guess the US can do the same thing.
VikingGoneWild on May 13, 2009 at 10:08 AM
You just can’t control yourself, can you?
ladyingray on May 13, 2009 at 10:08 AM
What again is the philosophical arguement for expanding welfare and granting amnesty?
saiga on May 13, 2009 at 10:09 AM
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