No, You're Not King Sir Jackass

The Market Ticker
VERBATIM POST
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That was an absolute disaster for Obama.

Let us not forget that this President came into office and ran the credit card to the extent of more than $1,500 billion a year for the last two years. He continued the bankrupt policies of George Bush who did the same damn thing. He has blown money like crazy, yet has utterly refused to face the fact that there is no way he can continue to do what we've been doing with these deficits for the indefinite future.

We were told these deficits were necessary due to a crisis in 2008. But we have also been told the crisis is over. That our economy is recovering. That Wall Street is "healthy." That the banks are "ok" and "well-capitalized."

These are lies and The President knows it! The economy is a damn wreck. The banks are only "solvent" because they're lying about asset values. And Wall Street is punch-drunk - again - on cheap leverage, headed for yet another utter and complete disaster.

So now, having run smack into the Tea Party and Boehner saying "no more damnit; we're going to blow up if this crap continues!" The President now turns around and throws a temper tantrum on national television threatening the old "tanks in the streets" (effectively) if he does not get what he wants - which is yet another blank check.

Well Mr. President I want to know when the blank check demands stop!

Why? Because there's no damn money, that's why. The US Government is unable to keep doing this crap forever.

It has to stop!

In fact S&P has clearly stated that if you pull the crap you intend the downgrade you claim you're trying to avoid will come.

I know in advance it is going to suck when the deficit spending stops. I've been writing on it for more than four years and have been utterly consistent. There is no escape from the mathematical facts.

So, Mr. President, if you intend to demand this crap continue, you have the affirmative obligation to tell the American people exactly when and how this is going to stop because you are not a King, you're a President and you are subservient to the people - not the other way around.

If you can't or won't then Congress has the absolute responsibility to say NO - period - and force a balanced budget right now, since you will have, by doing so, declared that you never intend to resolve the underlying problem.

It's that simple.