“The Obama Administration’s agenda has spurred durable economic growth and the longest streak of job growth on record, while sharply reducing the deficit to a sustainable level! We have built a solid foundation for continued investment in economic growth and opportunity for all, while maintaining fiscal discipline and using fiscal space appropriately to grow the economy.”
It’s none other than Jack Lew, our fantastic Treasury Secretary. In case you did not know, here is the mission statement of his job:
“Maintain a strong economy and create economic and job opportunities by promoting the conditions that enable economic growth and stability at home and abroad, strengthen national security by combating threats and protecting the integrity of the financial system, and manage the U.S. Government’s finances and resources effectively.“
I know some of you are thinking, where has Jack Lew been? Good question because I think I have only seen him a couple of times over the past couple of years. The one thing we did not know about his mission is that he is supposed to lie about the state of the economy, the state of employment and the state of the deficits. It just goes down under the heading…we think no one is watching, we think no one is listening and we think no one is paying attention so we will just make it up. The facts are:
Durable economic growth? Durable economic growth should not take 0% rates for 8 years, the printing of almost $5 trillion, the buying up of bonds to rig interest rates down to the bone and the increasing of easy money every time markets go down. Durable economic growth? Not 1 year with over 3% growth and now they take victory laps with GDP in the 1 percents even with the most gargantuan easy money policy in history not only here but from the lemmings around the globe.
Deficits at a sustainable level? Fiscal discipline?This year’s stated fiscal deficit is almost $600 billion. That’s $600 billion! Sustainable my —! Think about this…even though the government took in $3.3 trillion…the most ever, they had the grapefruits to spend $3.9 trillion. Did you know the last year of Bill Clinton’s presidency saw federal spending at $1.8 trillion? So an increase of $2.1 trillion since 2000 and they still say there isn’t enough and they need more for the holy grail of infrastructure. This makes anyone with a decently working abacus want to vomit. And by the way, the dirty little secret is that deficits are now heading back to about $1 trillion each year. And let us not forget, they can’t even get it under control with 0% rates. If rates start heading north, that’s going to be yummy as the costs to fund the gargantuan debts skyrocket. And let us not forget part 2…Mr. Lew forgets to mention that under this administration, total debt has gone up a humongous, monolithic, gargantuan $9 trillion. Yup Jack…a solid foundation and a sustainable level. Why do you think Yellen is loathe to raise rates?
Protecting the integrity of the financial system? By screwing savers? By creating massive bubbles by interfering with free markets? By watching leverage in the system grow to higher levels than the 07-08 debacle? That sure is integrity Jack!
Job growth? Hey Jack…who are you trying to kid? Maybe you are trying to kid the 90 million-plus that you tell us are out of the workforce which easily distorts the real unemployment rate? Those of us that are really watching know a con when we see one.
Nothing personal but this is nothing more than flim flam in action…out front and center for a flim flam administration and a compliant media that has no interest in mentioning these numbers the past 8 years. His words were an insult to all of our intelligence and an outright lie to the American public on behalf of the worst administration in history on the handling of our treasure, our hard earned dollars. Jack Lew and this administration has overseen a termite infested fiscal mess that will 100% come back to haunt all of us. But lucky for Jack Lew and the rest of this administration that they will all be be long gone when the chickens come home to roost. I am sure they will all be back in either Wall Street jobs or become lobbyists, lobbying their good friends in Washington in order to screw the taxpayer even more…just from the other side. Sorry for the harsh but it is well deserved. We all know the ultimate outcome! Don’t we? It is just a matter of when!