When the facts change, I change my mind. What do you do? -- John Maynard Keynes

Thursday, April 18, 2013

The Obama Budget

For some reason, it's all about the elderly--

RealClearMarkets - Obama's Lazy Status Quo Budget: "What's happening is that savings from shrinking defense and discretionary programs are financing expanded spending for the elderly. As a share of the economy (gross domestic product), non-elderly and non-health programs are rapidly eroding. In 2012, defense and domestic discretionary programs represented 8.3 percent of GDP; by 2023, the administration projects their share at 4.9 percent of GDP. This can't continue indefinitely, because -- at some point -- these programs become completely ineffective or disappear. But Obama remains unwilling to grapple with basic questions posed by an aging population, high health costs and persistent deficits. "

Denial is an Illinois state of mind.


The Big Picture

Financial Crisis - The Telegraph

JohnTheCrowd.com | The Sailing Website

Craig Newmark - craigconnects