.
HA! This is so very apropos, since we were in the laughing mood!
Here is Obama, whose first and only budget was presented 4 years ago, for which NOT A SINGLE DEMOCRAT VOTED! We have not had a budget in four years, CONTRARY to what the LAW DEMANDS! This year he has already well passed the deadline, and has YET to present a budget! His problem is that the man has not a clue about Economics!
In interviews he has claimed that the huge deficit HE HAS ACCUMULATED of some 6 TRILLION DOLLARS IN FOUR YEARS does NOT worry him! Yet, he proposes to advise the young how to budget!! He, who believes the USA to have bottomless coffers, and flaunts the law!
The old saying never fails!
Those who can, DO; Those who can't, TEACH AND PREACH!
And, as it says, it is not an April Fool's Day joke!
I beg to differ! He, true to his character, is just late in delivering it!
SINCE 1776
Obama Seeks
To Teach Young People
“How to Budget Responsibly”
No, I don’t think this is an April Fools’ joke. Obama released an
official statement on the White House website declaring that April is
National Financial Capability Month. It would be funny if it weren’t
true. In his statement, Obama said he wants to help young people better
manage their finances:
“I call upon all Americans to observe
this month with programs and activities to improve their understanding
of financial principles and practices….My Administration is dedicated to
helping people make sound decisions in the marketplace….Together, we
can prepare young people to tackle financial challenges–from learning how to budget responsibly to saving for college, starting a business, or opening a retirement account….My Administration continues to encourage responsibility at all levels of our financial system by cracking down on deceptive practices and ensuring that consumers are informed of their rights.”
I wonder if Obama is planning on leading by example anytime soon.
He’s trying to tell young people how to manage their money better, but
he manages to rack up over $6 trillion in debt during his time in
office.
How ironic that one of the websites that Obama links to in his
statement leads to a Federal Reserve webpage that offers tips on
“Getting the most from your credit card.” One of the tips is “
Stay below your credit limit.” I wonder if the Federal Reserve is
ever
going to lead by example. They don’t bother trying to stay below their
credit limit. They just scare Americans into continuing to raise it.
They don’t even feel like they need a credit limit.
Of course, big government proponents argue that if Obama didn’t spend
as much as he has, and if the Fed didn’t create as much debt/money as
it has, our entire economy would implode. They’ve got to keep spending
and pumping money into certain sectors of the economy in order to prop
it up.
Bernanke even has to give trillions of dollars away to foreign
banks to “stabilize” the global economy.
Government officials think comparing government finances to household
finances is not fair. They don’t like the comparison, because it makes
them look completely irresponsible. But they claim that there really is a
distinction between the two. They agree that households should operate
on a tight budget. But because it’s government’s job to “spur growth” in
the private sector, to “create jobs” and to keep unemployment down,
they have no choice but to tax heavily, borrow heavily and print
debt-based currency like there’s no tomorrow. That’s how they’re going
to get the economy going again.
But that’s not doing the trick anymore. That kind of government is unsustainable. Besides, it’s
not government’s job to do any of those things. It isn’t even
capable of running the economy.
Obama and the Federal Reserve are great examples of how
not to
manage one’s finances. It doesn’t matter if you’re talking about a
household or a huge, federal government. If you live beyond your means,
you will be destined to live beneath your means
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