John Ransom

OK. So now I’m not confused anymore.

Now I know Obama is working from a master plan. Recently I’ve come to the conclusion that the administration does know the stimulus math at least.   

I’ve always assumed that they couldn’t count. It was the only way I figured unemployment got away from them. But over the last few months, I’ve started to re-think that assumption.    

I was confused because the administration presented a budget that called for nearly $4 trillion in spending and a $1.6 trillion deficit in February, but now in July they’re looking to cut spending northward of $4 trillion while raising taxes by $1 trillion.

It didn’t add up to me

They were either not serious then when they presented the budget or they’re not serious now about deficit reduction.

In the two years they controlled Congress, the administration could have pushed for a larger stimulus program, but now they complain that they just didn’t have enough money in the $792 billion stimulus that they squandered.

They either weren’t serious then when they passed the stimulus or they aren’t serious now.

They gave the states money for temporary expansion of entitlement and public employees and then seemed confused about why the money is running out.

“This is part of the problem,” said Obama in an ironic, yet unintended description of himself, “where folks are rewarded for saying irresponsible things to win elections or short-term political gain when we actually are in position to do something hard.”

That sounded to me kind of like the drug dealer telling his junkies to clean up their act.

But now that I’ve done the math, it makes sense to me.  It’s because while Obama talks about investment what he’s really interested in is addiction. And tax increases.

We are at a financial crossroads because Mr. Obama, as the Wall Street Journal likes to call him, passed legislation that did not address in a serious way the problems that face our economy.  Instead, he added to it. Now he’s looking for a way to subtract from it and distract from it

He passed a fiscal stimulus measure that was a fiscal disaster in that it didn’t stimulate the economy, nor did it create any jobs. It only got us further hooked on the drug Washington wants to feed us, tax increases.

John Ransom

John Ransom’s writings on politics and finance have appeared in the Los Angeles Business Journal, the Colorado Statesman, Pajamas Media and Registered Rep Magazine amongst others. Until 9/11, Ransom worked primarily in finance as an investment executive for NYSE member firm Raymond James and Associates, JW Charles and as a new business development executive at Mutual Service Corporation. He lives in San Diego. You can follow him on twitter @bamransom.