Here’s a report from the Wall St. Journal that was apparently drafted by the dweebs at MSNBC.
The little dweeb doing the reporting, Josh, is probably Josh Earnest in drag. He’s an idiot.
First of all, celebrations for over a $400 billion dollar ESTIMATED drop in the amount of deficits over ten years is a paltry $40 billion a year. The federal budget is about $4 trillion per year. A $40 billion dollar reduction in the amount of deficit is one-tenth of one-percent of federal spending.
Second, the bimbo feeding softballs to Josh kept talking about “deficit reduction.” There is no deficit reduction coming in the next ten years. The reduction, all one-tenth of one-percent of it, is a reduction in the projected year-to-year deficits. The federal deficit is still growing by leaps and bounds. Thanks Obama, just love what you’ve been doing lately for the economy!
Third, let’s put the $40 billion “savings” in perspective. Let’s say you make $50,000 per year and you want to put some money aside for your retirement. Saving at the same rate as the decrease in deficit spending you would put away the grand sum of $50 every year. Fifty dollars.
Finally, and I’ve not even scratched the surface of the stupidity in this report, is the fact that after yammering about how Congress has been forced to cut spending, our resident idiot, Josh, tells us that the “savings” are the result of lower interest rates being forecast for the next ten years.
Hey Josh, interest rates are essentially zero right now. Every time the Federal Reserve meets there’s a panic that they will stop buying the $1 trillion worth of bonds and mortgage backed securities they’ve been buying for the last seven years and raise interest rates.
Your little story is a pipe dream Josh. Shame on you.
Sign up to get alerts from Joe!
Trending on Joe for America
Sorry. No data so far.