“No Man’s life liberty or property is safe while the legislature is in session”.

- attributed to NY State Judge Gideon Tucker

Thursday, April 14, 2011

More Blatant Liberal Bias On CNBC

As I write this, Wonderboy is probably beginning his budget speech which has been reshaped by Paul Ryan's Path To Prosperity budget.

CNBC's flaming socialist political reporter, 'Red' John Harwood, assured one and all that, just like Clinton won the budget debate of his term by planning to reach targets over 10 years, rather than the GOP's 7 years, so, too, will Wonderboy win this time by taking 12 years, instead of Ryan's 10, to reach his budget targets.

Windbag and generally empty-headed, uncredentialed economics reporter Steve Liesman then chimed in that 'the bond market just wants to see a plan,' so Wonderboy's plan will win, and it won't matter that it takes longer to cut deficits.

For the record, we'll see how the bond market reacts to prospects of continuing extravagant spending on social programs while, according to reports, defense spending gets the axe. Doesn't sound like something markets will feel all the comfortable with, but time will tell.

According to pre-speech leaks, the First Rookie will eschew Ryan's move to a defined-contribution approach to Medicare, in which the government will subsidize the purchase of private insurance, rather than be the ultimate 3rd party payer. This morning, also on CNBC, Democratic Senator Kent Conrad, who took payoffs in the form of sweetheart mortgages from Angelo Mozillo's Countrywide Finance, while chairing the Senate committee that regulated the firm, contended that all Medicare needs is a little spending restraint that some panel can provide. He declared that Ryan's approach is unnecessary, and that seniors won't really have to feel any pain at all.

Conrad then recalled Clinton forming some panel to do this, and assured viewers that it would work this time, too.

Of course, nearly 20 years ago, federal spending and deficits were mere fractions of what they are today. Ratios such as spending/GDP and debt/GDP were significantly lower, too.

It goes to show how arrogant Wonderboy and his handlers are that they think nobody will recall that, just a week ago, he was still calling for higher spending and more 'stimulus.'

One pundit quoted an administration source as saying that 'a week from now, nobody will remember that Ryan's budget plan came first.'

That's pretty cynical, isn't it?

But with media buddies like those on CNBC, I guess Wonderboy's staff figures they can lie all they want and the public will be fooled for at least another eighteen months.

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