I know!!! Its kind of an exciting excercise in creative imagination. But, hey, let’s just do it and ponder whether or not it’s actually rational some other time, ok?
From Keith Hennessy comes this wonderfully clear chart that illustrates the President’s proposed budget path. Oh boy.
So, that’s what hope and change looks like in dollars and cents. Sort of looks like bankruptcy to me. Well, scratched that itch now didn’t we?
So, OK, it’s a little hard to look at that and not ponder whether or not its rational. True. But, first you’d have to cross the “credibility bridge”. You know, the one where you get to ask whether the politician is actually telling you the truth. I mean, when have you been inclined to believe that the government’s spending plans were spot on? Ever? Never? Yeah, pretty much never.
Here, for instance, we really ought to marvel over the massively moderating effect of an expected near-term reduction in spending that neatly coincides with a near-term improvement in revenues. That must be the result of the explosive economic growth we’re going to get, probably tomorrow afternoon. Barring that rather unlikely event, it’s fairly easy to plot those trend lines from where they sit today.
That uncomfortable feeling in the pit of your stomach? Oh, hey, that’s just a bit of temporary turbulence, it has nothing to do with that mountain looming up ahead. You’re now free to remove your seatbelt and roam about the rationality cabin at will. How about I just leave you to do that on your own.
PS As this post is getting some traffic hits, I can’t help but ponder whether folks are looking for a reason, ehem, to do what the title suggests or, more likely, share my concerns with the course Mr. Obama is taking. It seems appropriate to add, at this juncture, that there is plenty to be concerned about in what he does say and plenty more when his actions speak louder than his words. Take him at is word, then, and respond appropriately. But, be assured there is more going on “behind the curtain”.