WOW! that was a great party...now that the celebrations are over, it is time to get back to reality

how the hell is obama going to manage the fiscal emergencies facing the usa?

on the revenue side:
- increased taxes on people making over $250,000 doesn't kick in until the bush tax cuts expire in 2011(?)
- the recession is going to cause a general decrease in tax revenues

on the expense side:
- obama is stuck with the $700 billion bailout package he supported but will have limited control over when he is president
- his health care plan is going to cost $?? billion
- his early childhood education and post-secondary education plans are going to cost $?? billion
- his green investment program is going to cost $?? billion
- 2008 interest payments on the national debt were $450 billion, and the national debt will grow by at least $1 trillion by 2009 fiscal year end (sept 30)
- medicare and social security are financial timebombs that could bankrupt the US government within 20 years

meanwhile, government resources around the country are being swamped by increasing levels of unemployment and homelessness

it will be extremely difficult to accomplish much with that baggage
maladroit Reviewed by maladroit on . obamaconomics WOW! that was a great party...now that the celebrations are over, it is time to get back to reality how the hell is obama going to manage the fiscal emergencies facing the usa? on the revenue side: - increased taxes on people making over $250,000 doesn't kick in until the bush tax cuts expire in 2011(?) - the recession is going to cause a general decrease in tax revenues on the expense side: - obama is stuck with the $700 billion bailout package he supported but will have limited Rating: 5