Saturday, December 07, 2013

The Boom is On….

I said it about several  years ago that it was inevitable after a crash. Now, with unemployment dropping, gas prices leveling downward, and a new budget deal coming in, we ramp up consumer spending. I’ll keep you posted.

I also figure Hillary is a shew in but everybody calls me names. Just like when I told them Obama was unbeatable…..twice!

Here’s the Washington Times, a right wing publication admitting the boom has started :

Federal spending continues to drop and, combined with this year’s tax increases, are making a dent in the federal deficit, according to the latest numbers released Friday by the Congressional Budget Office.

Defense spending dropped by $10 billion in October and November, and other basic government activities outside of Social Security, Medicare and Medicaid dropped by $13 billion, helping fuel the better fiscal picture.

Combined with an improving economy, which is boosting wages, and with the tax increases that President Obama and Congress agreed to at the beginning of the year, the federal deficit was down $61 billion, or more than 20 percent in the first two months of fiscal 2014, which started Oct. 1.

The numbers are more good news for the federal budget, which ended fiscal 2013 with the first sub-$1 trillion deficit since President Obama took office.

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The drop in government spending is small as unemployment payments dry up  and the Fed is still quantitive easing 85 billion or so into the banks…

Molon Labe..

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