Two Florida school officials won't go to jail for praying

[kandrathe]

Total federal revenues are down by *sixty percent*? Where'd you get that figure?

Tax Revenues Post Biggest Drop Since Depression The 2008 revenue declined 20% overall. Accounting tricks aside, I believe the 2009, and 2010 actual revenues will also be declines. The flattening of the line that has occurred so far in 2009 is due to the 2 or is it 3 trillion dollars the government borrowed to drop from Keynesian helicopters on a struggling nation. Yes, they received unemployment which comes from the states, but was paid for by the feds bailout of state deficits. And, everyone was taxed on their unemployment benefits. And, everyone who was forced to dip into 401K's and IRA's was double taxed. Corporations that fed at the government teat may also show profits, and pay taxes. The revenue picture appears rosier than it really is, and it is all left pocket to right pocket movement. The left pocket is GDP, and the right pocket is the deficit.

http://www.whitehouse.gov/omb/budget/fy201...ts/hist02z1.xls

I feel like we are lying to our sugar daddy... New in 2010.... Down is the new UP!

The "Obama doesn't get to be an American hero until he's a Libertarian hero" might make sense for you, but other people are hardly bound to follow your opinion on the matter. The deficit did not just triple suddenly from unsound management. It tripled (in the short run) because that was the advice of Obama's economists as to how to "rebuild a thriving economy".

No. His greatest accomplishment to date, in all of his political career, is to have been elected. What are his feats? He is not even a progressive hero yet. :)

On the economy; The optimists are projecting that 2007-2010 are a hiccup in an otherwise well oiled economy. My theory is that the tech bubbles and the housing bubbles were (engineered) anomalies that artificially showed growth higher than it is. We've hit the wall in terms of borrowing money and showing it as growth or increase in GDP. Before the latest crash I would have been able to go to my bank and borrow a million dollars based on my assets and income, but that would not make me a millionaire. Now, like everyone else, my assets are reset back to 1990's levels, which is probably closer to the reality of their actual worth. The bottom line; I think the OMB, and the presidents forecasts for revenue recovery in 2010 - 2014 are fictitious. They are overstated by perhaps as much as 30%. We can't go on borrowing money, then pretending we have growth and taxing everyone on it.