Deficit spending, trade imbalance and doing 2009 all over again. We are all so screwed !!

Editorial notes: In his first of two major press conferences, March 9, 2009, Obama framed his spending plans in terms of "investments." Apparently Bush "spent" money while Obama "invested" money -- using the term "invest" or one of its forms some 18 different times. It was in this press conference that he said, "All government spending is stimulus."

We always wondered why he continues to criticize Bush in view of the fact that according to the Obama handbook, Bush created more stimulus spending than any president in modern times. . . . . . . . . . and Obama voted for every single penny of it except for the war expenses.

April 30 - Obama continues to frame his deficit spending plans in light of "investments."

And on September 7, 2010, he used the term "investment" 7 different times. We wonder if he thinks that he is fooling people ??

Today (9/8/10), he criticizes John Boehner for wanting to take the nation back to the Bush days. Seems like Obama's failed policies of 2009, these are the same policies and strategies he is trying to resurrect. He wants to do 2009 all over again !!!! Most of us know that the GOP has learned its lesson -- the TEA Party will walk away from the Republicans if they continue to spend money as in the years of Bush. There is not returning to the Bush years. Somehow, Obama has not gotten the memo. That is why his party is gone in 54 days.

Understand that he has spent more on entitlement payouts (social welfare programs) in 20 months than Bush spent on the Iraq War from 2003 t0 2008.

He touts his jobs agenda including pothole repair, weather stripping homes, shovel ready jobs that proved to be non-existent, making solar panels and electric cars and, and . . . . . what?

Are we the only ones or does all this sound rather childish. "Pothole" repair ? Shouldn't he have been a little embarrassed to even mention this as a part of his jobs creation strategy ? Weather stripping? Does he not know that general building contractors already do this kind of work, that there is very little profit in the process? Shovel ready ? There never was such a category. Who knew. Solar panels ?? Unless and until a serious demand exists for solar panel, we do not expect more than 60,000 jobs nation wide -- five years from now. There is a plant in Fremont, California that will soon employ 4,000. Electric cars ? At $45,000 a car, there is not much hope in this production item and China is building a better vehicle. It may win the Car Wars of the very near future.

None of this goes to our trade deficit. Unless we produce product that the world wants to buy, we are destined to become a third rate nation. We have been "upside down" in our trade balance since the late 1970's.

Point of post: talk of "investments" and manufactured goods that we produce and we consume is only putting off the inevitable. We need leadership NOW. None of this will carry us into the future. But we have elected leaders that deficit spending and trade deficits are good things. We are all so screwed.