Bones at David Bellavia is making some astute deductions concerning the current "economic stimulus" situation going on in America... you'll want to follow the link to read his full treatment.

Two of Closest Obama Advisor Issue Dire Warnings on Economy

Two of the Obama Administrations closest financial allies, Fed. Chair Ben Bernanke and former Chair Paul Volker have given stern warnings to the Obama Administration on the federal debt.

for all intent and purposes they are siding with advise emitted from conservative blogs for years, the debt is unsustainable. My question to them is where were they a few weeks ago when this administration claimed the new health care entitlement was ‘deficit neutral’.

Washington Post

Federal Reserve Chairman Ben S. Bernanke warned Wednesday that Americans may have to accept higher taxes or changes in cherished entitlements such as Medicare and Social Security if the nation is to avoid staggering budget deficits that threaten to choke off economic growth.

“These choices are difficult, and it always seems easier to put them off — until the day they cannot be put off anymore,” Bernanke said in a speech. “But unless we as a nation demonstrate a strong commitment to fiscal responsibility, in the longer run we will have neither financial stability nor healthy economic growth.”…

The health-care bill signed by President Obama last month has further stoked the national debate over government entitlement programs, though the non-partisan Congressional Budget Office has projected that the legislation would actually reduce future deficits….

But what has now been disclosed is that in order for this bill to ‘reduce future deficits’ and make the CBO’s numbers work they had to throw in student loans and guarantee that Medicare would be cut by 20%. They have already reneged on the cut and are rumored to have a ‘doc fix’ in the works. This became obvious when they prevented the cuts from going into effect before their spring recess. Make no mistake, if the ‘doc fix’ is in, and it almost certainly is, the CBO numbers are out.

Then there is Volker’s warning and suggestion:

…On Tuesday, White House adviser Paul A. Volcker spoke in favor of higher taxes, telling an audience at a New York Historical Society event that the nation may have to consider a European-style sales tax, known as a value-added tax, to close the persistent budget gap. In answer to a question, Volcker said a VAT “was not as toxic an idea” as it has been in the past, according to Reuters. “If at the end of the day we need to raise taxes, we should raise taxes,” he added

One of the Presidents most trusted economic advisors does not chose to cut the budget and programs in a fiscal responsible manner, but rather raising taxes, in a European kind of way.....

To which xtnyoda responded:

The “progressives” are making us a nation of slaves… and they are very well aware of what they are doing… it is by design.

“The borrower is a slave to the lender.” (Proverbs 22:7 HCSB)

…. and they don’t care if one is red, yellow, black, or white…

One day folks are going to wake up and realize that this “redistribution of wealth” is actually a “subversion into slavery.”

For the entire nation.

Consider and ponder.

xtnyoda, shalomed