Isn’t it just like that young whippersnapper, Paul Ryan, to go ahead and produce his own budget?
He’s just grandstanding, you know. To draw attention to the fact that laws are only for little people: Case # 3476:
Under the law, President Obama must submit a budget by the first Monday in February, but he has met the deadline only once. The annual budget submission is supposed to start a congressional budgeting process, but that has also broken down. The Senate last passed a budget resolution in 2009.
Hey! Know who else has run a huge deficit for years without having an operating budget?
They’re bankrupt now, of course; after years of ignoring troubling little facts like an unreported $7.2 billion in retiree health costs. The Governor is now in the process of appointing an Emergency Manager to try to keep it afloat.
Oh, and BTW, they just convicted the city’s ex-Mayor Kwame Kilpatrick on 24 felony counts, including racketeering, extortion and bribery; there were no charges brought for not passing a budget though.
Kwame was known for living large – hip-hop style large – while the city was going down the tubes.
Butt I digress. What does this have to do with Big Guy’s budget problem?
Oh hey! Did I tell you yet? We’re going to Martha’s Vineyard again this year! We’re shopping for more suitable digs for our 2 week sleep-away this summer; you know, now that we have more flexibility:
So far, this is our leading contender:
Oh, and one last item from the team on the ground in Detroit: According to John Boyle, seasoned turnaround man and former Ford Motor Company actuary (and consultant who discovered the city’s $7.2 billion oversight) if someone could just manage to get the city their own printing press, all their problems would be solved:
“Detroit is a microcosm of what’s going on in America, except America can still print money and borrow.”
Maybe it would be better to ask a non-financial expert, like Jay Leno, to explain how all this budget stuff works:
“When it comes to this whole stupid 'sequestration' thing, Mayor Bloomberg told people not to panic. He said we're not going to run out of money. You know, I'm no financial expert, but when you're $16.5 trillion in debt, haven't you already run out of money?" (The Tonight Show with Jay Leno)
Cross-Posted on Patriot Action Network