Now What?

We are starting to hear about the new budget bill the President has prepared. The man who proclaimed no earmarks actually placed one of them into this bill back when he was a Senator. As of yesterday, his name was removed from authorship. Maybe he's embarrassed?

We are starting to hear the scope of this spending bill. Do not get confused. There was the TARP of $700 billion back in the fall. Then there was the stimulus bill - actually a monster spending bill - that had to be on his desk before February 16 that will cost us $800 billion. This spending bill is the budget bill. I have heard it tops $1 trillion and includes a study of hog farm odors and shrimp farming research.

Didn't he complain the other night about the inherited deficit?

I have a friend who buys things like a large flat screen TV and then asks herself how she plans to pay for it. She took out a home equity line to cover the credit card debt that was out of control 2 years ago and then bought a car. It's noted that she bought a used car but then financed it for 5 years.

She reminds me of Obama. He has all this spending lined up and now he/they need to figure out how to pay for it. If everyone who makes $75,000 a year or more gave 100% of their earnings to taxes, it would not meet the deficit as it appears it will be.

Please reread that sentence. Now, as we watch the Congress contort and manipulate the figures, ask yourself: How are we going to pay for this?

'til later