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On April 1, I saw an article in which President Obama has proclaimed April as “National Financial Capability Month,” during which his administration will do things such as teach young people “how to budget responsibly.”

I thought it was a great April Fool’s joke by the writer, but when I read on I found the article was not a joke. In an official proclamation released March 29, Obama said, “I call upon all Americans to observe this month with programs and activities to improve their understanding of financial principles and practices.” Obama went on to say, “My administration continues to encourage responsibility at all levels of our financial system.”

This is coming from a president who has increased our national debt by more than 60 percent.

It was not an April Fool’s joke, but it is a joke – and the joke is on us.

Charles Cushman

Aiken, S.C.

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Truth Matters
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Truth Matters 04/04/13 - 01:47 am
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5
Debt

Don't forget the savings we will reap from ending the two wars put on a credit card.

carcraft
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carcraft 04/04/13 - 03:03 am
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2
What short memories we have!

Don't worry Obama care will take care of any dividend from ending the two wars. Don't forget that one of those wars was due to over 2,000 Americans being killed and over eight years of Clinton doing NOTHING when two US Embassies were bombed, the World Trade Center was bombed the First time, Kolbar Towers was bombed and The USS Cole was bombed. Obama, in 4 years, created more debt than Bush did in eight, including the two wars on a credit card.
Add to that the facts that we have had No Budget from the Democrats in the Senate for over 4 years. A down grade in the US credit rating and deficits of over $1 trillion dollars for each year Obama has been in office. Obama wants to lecture us on budgeting and finance? LOL

nofanofobama
6993
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nofanofobama 04/04/13 - 05:11 am
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truth --i thought the

truth --i thought the campaigner in chief ended the iraq war? ANYHOW the 8 years under bush with 2 wars still is not even close to obumlers debt..it is so unpatriotic to run up the debt on our children on the china credit card as obumler declared about bush...hey bud what about obumler ..with his own words...hes unpatriotic and he does care NOT about our children...DOES HE????

Humble Angela
41338
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Humble Angela 04/04/13 - 06:59 am
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"Don't forget the savings we
Unpublished

"Don't forget the savings we will reap from ending the two wars put on a credit card."

Let us know when when we are no longer fighting 2 wars, ok?

WalterBradfordCannon
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WalterBradfordCannon 04/04/13 - 07:28 am
3
16
I think it is silly to assign

I think it is silly to assign blame for the deficits or debt on Obama or his policies. He has not increased the annual deficit over the Bush years DESPITE inheriting the worst economy since 1929. Employment is still not back to the levels a year before Obama took office, which is a prerequisite for backing off on government spending. The best economists criticize Obama for not doing enough - not for spending too much. And as a last point, the costs to service the US debt, relative to US GDP, are very, very low (courtesy of interest rates). When interests rates are low, the wise man spends, while the fool saves.

Of course it is of paramount national interest to reduce deficits when the economy is going strongly. This policy should have been in place during the early Bush years. He inherited a strong economy and a national surplus. Instead of reducing the debt, he cut tax income and placed the nation on a track for the largest financial bubble of the last 80 years. That is what Obama inherited. The remarkable thing today is how minimally the US employment has been disrupted despite the enormous financial strain of 2008, which is a testament mostly to the Fed, but also to the Obama administration and US Congress 2009-2013.

deestafford
31686
Points
deestafford 04/04/13 - 02:28 pm
10
2
Obama is following in FDRs footsteps

Just as FDR's policies prolonged the Depression longer than any other in history, Obama's policies have made this the longest non-recovery period from a recession in history.
In Feb 2007 there were 2,427,000 more jobs than there are today and there were 5,167,000 fewer unemployed that there are today.
The "best economists" that WalterBradfordCannon speaks of are all liberal Keynesians as were the ones advising FDR. Read Doctors Thomas Sowell and Walter E. Williams for a good view of what should be done to fix this sorry economic morass we are mired in. Going on YouTube and looking at some clips on Doctor Milton Friedman would also futher one's education of the dismal science of economics.

Humble Angela
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Humble Angela 04/04/13 - 07:52 am
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"He has not increased the
Unpublished

"He has not increased the annual deficit over the Bush years DESPITE inheriting the worst economy since 1929....................."

It really isn't just a river in Egypt.

Humble Angela
41338
Points
Humble Angela 04/04/13 - 07:53 am
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WalterBradfordCannon, what
Unpublished

WalterBradfordCannon, what makes these so called "best economists" better than those who say the opposite....in your own words?

nofanofobama
6993
Points
nofanofobama 04/04/13 - 08:15 am
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an expert is only someone who

an expert is only someone who agrees with you..i have had this used against me for 45 years..its tatic used by those who cant equate policy and results and justify it...anyone who believes our economy is getting better cant face the facts...and why when bush deficits were running 200 billion or so where all the dims blaming bush for being irresponsible...like old obumler...and it is not the worst economy since 1929...in the carter years unemployment, inflation and interest rates where all in double digits..and bush DID inherit a bad economy..the bubble had burst on the stock market dotcom stufff...and less than a year in his presidence we had 9-11 which STOPPED all air traffic for weeks and related industries..or do you all forget..these deficits are obumlers..because his stimulus was incorporated in to the budget..which made the baseline budgeting jump dramatically...this is why we are running unsustainable deficits not because of bush...GROW UP AND MAN UP..

GiantsAllDay
10463
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GiantsAllDay 04/04/13 - 08:36 am
5
2
People cheering Obama for

People cheering Obama for giving up 5% of his salary due to the sequester shows just how many uniformed electorate we have in this country vs. the informed.

Shortcomment
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Shortcomment 04/04/13 - 08:44 am
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1
Maybe there is some logic

We use car thieves to train police how easy it is to steal cars.

We use Computer Hackers to train the FBI, CIA, and the NSA to show how to violate your privacy.

We use bank embezzlers to show how to catch other embezzlers.

So why not use people that spent $16.5 Trillion more that they earn, Teach us how to budget?

The base problem is,
their checkbook math and our checkbook math are not the same.

allhans
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allhans 04/04/13 - 09:23 am
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2
When you live in a mansion,

When you live in a mansion, all expenses paid, you might consider giving a bit more than 5 lousy percent.

nofanofobama
6993
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nofanofobama 04/04/13 - 09:41 am
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2
short comment..never thought

short comment..never thought of it that way...techically the feds can always be in balance just by printing money and buying their own debt . and bad private debt...now we would never have a govt act that stupid .would we??..

LillyfromtheMills
14253
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LillyfromtheMills 04/04/13 - 10:22 am
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2
Obama

Is a pathological liar.

dichotomy
37331
Points
dichotomy 04/04/13 - 10:56 am
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2
"WalterBradfordCannon, what

"WalterBradfordCannon, what makes these so called "best economists" better than those who say the opposite."

HA.....he meant to say socialist Keynesian economists. It's a common mistake among flaming socialist liberals who failed Basic Checkbook Balancing while acquiring their advanced pseudo intellect in the Liberal Arts.

myfather15
56267
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myfather15 04/04/13 - 11:04 am
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2
The President is already a

The President is already a millionaire and still doesn't have to pay for his own vacations. Honestly, what is 5% of 400k to a person who is a multimillionaire?? If he wants to impress me, give all of your salary back.

myfather15
56267
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myfather15 04/04/13 - 11:10 am
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3
@nofanofobama

You will NEVER see liberals grow up and certainly not man up. They will never admit to any wrong doing or mistakes. They always blame someone else; it's in their genes. BUT, while we have millions of uninformed voters; I believe they are going to one day see through all this "Blame the other guy" non-sense. They sound like little children when they get in trouble "It's Johnny's fault, he told me to do it." It's quite pathetic; and sadly, if American's don't wake up, realize this and get involved; they get what they deserve which is lying corrupt politicians. Hhhhmmm sounds a lot like what we already have.

GnipGnop
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GnipGnop 04/04/13 - 01:17 pm
5
2
They will never get over blaming the other guy...

as long as you have politicians telling them the rich should pay more to make them more equal. They will never get up and do as long as they have someone to keep them in mental slavery by giving them something instead of teaching them a skill. The liberals have it down pat...deflect attention to the haves and keep the have nots holding out their hands for the crumbs that fall from the cookies they get from pretending that they care about their plight. You have to give them credit. They certainly know how to play the game better than the repubs...they better start taking lessons or they will see another dem in the whitehouse in 4 more years...

LillyfromtheMills
14253
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LillyfromtheMills 04/04/13 - 01:47 pm
5
2
G2

Hillary is in step for the presidency. Do you not think that Obama is campaigning right now on the backs of the tax payers. Who would go to Colo and do what he just did?

Humble Angela
41338
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Humble Angela 04/04/13 - 02:13 pm
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For the record, Obama didn't
Unpublished

For the record, Obama didn't "inherit" anything. He campaigned hard for and promised to be able to fix everything he got. He has failed miserably on that promise and continues to refuse to accept ANY responsibility for it......like the good immature liberal that he is.

LillyfromtheMills
14253
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LillyfromtheMills 04/04/13 - 02:29 pm
2
2
The dems treasury

They are millions in the hole

WalterBradfordCannon
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WalterBradfordCannon 04/04/13 - 06:49 pm
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The fundamental misconception

The fundamental misconception is that national debt should be treated similarly to household debt. You can be certain you are arguing with someone poorly read in macroeconomics when they compare the national debt to balancing a checkbook. As to the "best" macroeconomists, try Larry Summers (former president of Harvard and Treasury Secretary), Paul Krugman (Nobel Laureate), Brad deLong, Ben Bernanke, Olivier Blanchard, Joe Stiglitz, and basically everyone else who has ever published macroeconomics in high profile journals. Everyone who is respected in that scientific field.

As to what makes them better than their critiques - they have consistently predicted the outcomes of policy changes since 2007. For example, on austerity, you can consider Europe. Without exception, austerity has made the debt to GDP ratios of the impacted nations worse, not better. The UK has now seen the light and will be expanding their monetary policy again to stave off economic contraction and unemployment. The ECB, however, is still forcing austerity on the southern EZ nations at great cost. There can be no doubt. We are doing our own little experiment with the sequestration, and you will have the ability to watch the change in the US GDP and employment situation until the end of September (starting in March when policy shifted). Fiscal policy works better than monetary policy, but Congress controls the former while Bernanke controls the latter. If Congress got on board it could be really good.

fedex227
11187
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fedex227 04/04/13 - 07:56 pm
3
1
President Reagan ...
Unpublished

... raised the debt ceiling more times than any other President since 1960 - 18 times, for a 67% increase. I'm sorry Mr. Cushman, I did a search on the AC archive and didn't see your LTE at that time. Maybe you just weren't around then.

Truth Matters
8075
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Truth Matters 04/04/13 - 08:33 pm
3
3
Echo chamber

Reading the posts here finally reveals what an echo chamber is. You read the same old thing: while blaming liberals and calling them uninformed, the writers whine about being blamed and called names. At some point one must realize that you attract what you project.

Can't wait till tomorrow to see what new evil Obama has perpetrated on these scared and paranoid people of faith. There in lies the greatest contradiction. Nothing in my faith walk teaches me to be suspect of everything. Rather people of eternal Hope understand that neither Obama, congress, the governor, or whomever has the final say. You people need to just stop this nonsense and behave as adults.

Obama breathes. Quick, do something. He is trying to deplete all the oxygen. It never stops!

dichotomy
37331
Points
dichotomy 04/04/13 - 09:22 pm
0
1
"President Reagan ...raised

"President Reagan ...raised the debt ceiling more times than any other President since 1960"

Maybe, but that was when the debt was relatively small and NOBODY was concerned about the size of the debt because it would have been actually possible to pay it off. The size of the debt today is HUGE and there is ZERO possibility of paying off the debt. Heck, we can't even agree to STOP MAKING THINGS WORSE.

As for inheriting a mess from Bush......I still think the only reason the economy crashed in October 2008 is because it became apparent Obama was going to be elected in November.

KSL
143226
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KSL 04/04/13 - 09:24 pm
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2
Laughing out loud at your

Laughing out loud at your experts. No agendas there. I would just as soon take advice from Obama, who is clearly one of the most stupid presidents in the last 100 years.

KSL
143226
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KSL 04/04/13 - 09:33 pm
0
2
I think the dems deliberately

I think the dems deliberately crashed the economy so a dem could be elected.

How many recordings of Bush people advising Congress of the impending problem are those commentators going to ignore, like they don't exist?

KSL
143226
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KSL 04/04/13 - 09:43 pm
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2
They remind me of immature

They remind me of immature people who cover their ears and yell lalalalalala when they don't want to hear the truth, in this case. If they don't hear it, they don't have to deal with the truth of it.

Darby
29168
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Darby 04/05/13 - 02:49 pm
1
1
"...his administration will do things

such as teach young people “how to budget responsibly.”"
.
Next, we'll have foxes giving classes on secure hen-house construction.

How about a guest lecturer such as the little maniac from North Korea hosting a seminar on how to win friends and foster trust?

WalterBradfordCannon
1492
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WalterBradfordCannon 04/06/13 - 05:42 am
1
1
As a followup to my comment

As a followup to my comment Thursday, I predicted that our own austerity, in the form of reduced spending through sequestration, would have impacts on future GDP and employment in the USA. Friday 4/5 was the employment report, and it showed that in the past month, the US added fewer jobs than in any of the prior 9 months. This past month was the only month of the past nine impacted by sequestration. Next month will be worse, as will all the months until the end of the fiscal year (October's report). Now the question to you is - should we reduce spending knowing it will ramp up unemployment, or should we wait until unemployment is at comfortable levels? Can we criticize the government for deficits when the cost of debt is historically low and employment is high? Or are you just repeating something you heard on FoxNews (who will undoubtedly criticize Obama BOTH for unemployment AND for govt spending as though they are unrelated).

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