The world leaders at the Toronto Summit have pledged that they will cut deficits since it seems that runaway spending is placing the world economy in serious danger.
No kidding? And they are just figuring this out?
The biggest liar of the whole group, Barack Obama, made his own little speech. The man claimed he was working on cutting our deficit - but note that our deficit has grown more in the first two years of this presidents term than all of the presidents of the past - combined.
The Obama administration, however, has made it clear they believe reducing spending too quickly might set back the fragile global recovery.
It is the spending that is making it worse! The slight improvements are dependent upon the spending. Any reduction sends us back into dire straights. The only resolution is to allow the free market to take hold, hit a few down years, and then let free market forces increase production.
Economies depend on the growth of manufacturing. Cutting taxes, and cutting spending (some of which must be applied to entitlement programs that encourage people not to work) will encourage production, and consumer spending will follow. All of this spending is simply weakening the strength of the dollar, and is pushing us into an inflationary period that will then result in a deflationary depression.
Amazing, listening to Obama speak. He plans to "call the bluff" of those that oppose him.
If he keeps up what he is doing, it won't matter, because we will join the ranks of Greece.
Simple fact, Keynesian economics is a failed theory, and this idiot is doing exactly what it takes to destroy our economy.
-- Political Pistachio Conservative News and Commentary
The Government Bailouts Must End - The Heritage Foundation
Obama Calling "Bluff" Of Those Complaining About "Deficits And Debt" - Real Clear Politics