Introducing President ---

Yes, I have taken a few days to process the Budget numbers coming out of the White House to see if I could put my response in a simple to understand format. My conclusion is in: B O G U S !

Once again as I outlined in a previous post, garbage in-garbage out. Let's look at the Fantasyland forecast coming from the White House.

1) Starting next year, he forecasts 4% economy growth followed by 4.5% in 2013. To grasp the unreality of that projection, let it be known in only four years of the past 30 has the economy grown four percent or more. In those 4 years, the Republicans controlled economic policies. Obama's budget has 15cnew tax hikes ($60 billion in oil and gas taxes alone--where are you mainsteam media--?), hardly friendly to economic growth.

2) Their inflation projection of 1.3 percent this year, 1.8 percent in 2012 and 1.9 percent in 2013 is baseless. Uhhh, with drilling in the Gulf of Mexico, which accounts for about a third of the country’s natural gas and oil, all but shut-down since the Deepwater Horizon disaster, more foreign oil coming to America means higher inflation. Remember, almost every item you buy has a 'transportation' cost tied to it. Inflation omparison: UK 4%, China 5% and Brazil 6%--and he projects the USA to remain at an average of 1.5%?

3) Obama’s assumption that unemployment will dip from 9.3 percent this year to 8.6 percent next year and 7.5 percent the following year. We have discussed in a prior blog post how 'lowered' numbers are accomplished--simply more people who have stopped looking for work are no longer calculated in unemployment figures. The Obamacare albatross, failed Stimulus, more regulations and taxes on the very businesses that produce the jobs and President Rosy Forecast believes more jobs will be created-really?

If you were not already convinced this President is the the biggest fraud to ever lead this nation, perhaps this will finally wake you up: The interest we are paying on our debt is NOT part of his budget!  That is correct, he balances the budget in 2017 if he does not calculate the trillions (not exaggerating) in interest we are obligated to pay. Go sell that plan to your local creditor, why don't you.

Let me bring this down to your family budget level of understanding: I borrow $1000 at 10% interest. The $100 interest payment comes due and I have to go borrow that $100--Obama DOES NOT include the borrowed interest payment as part of his forecast. Excuse me--I am now $1100 in debt, but I am only going to disclose $1000--yes, that is Mr. Transparency you elected in 2008. (As a point of emphasis, in 2010, we had to borrow $400 billion just to pay the interest)

Obama is either the most economic illiterate person ever to be president or the most maliciously disingenuous. I don’t think there are any other alternatives.

 This administration is robbing Peter to pay Paul, and we are all Peters!