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Orszag – The First Defection, by Kevin Jackson
What took so long for the first defection? Despite what you have heard, the stepping down of White House Budget Director Peter Orszag is merely his admission he was the biggest nut in the nuthouse.
Though Orszag is the product of the best schools—Exeter and Princeton—schools the average American child has NO chance of attending, make no mistake about it, Orszag is a bona fide mental midget.
Proof? Orszag guided the $787B of TARP funds, which would have been more productive if he have invested the money in EF Hutton stock. I know fifteen year old kids who would have done more with that money than the government. Heck if we had given the money to Madoff, at least we would have had something to auction!
Orszag has overseen the most money spent in the shortest amount of time in the history of the world.
And if that isn’t enough—and it is—Orszag is credited with helping get DeathCare passed. Orszag provided the budget analysis.
According to “White House estimates,” which came from Orszag, DeathCare was originally to be budget-friendly plan. Then we find that DeathCare was under-calculate, and will cost Americans billions.
Orszag’s solution to working within a budget is to have the Democrat-controlled Congress simply raise the debt ceiling!
Would it surprise you to learn that before Orszag joined the Obama administration, he was already proposing idiotic theories?
Orszag co-authored a paper titled “Implications of the New Fannie Mae and Freddie Mac Risk-Based Capital Standard” with Nobel Prize winning economist Joseph Stiglitz in 2002. In the paper they inferred the following:
…On the basis of historical experience, the risk to the government from a potential default on Government Sponsored Enterprise debt is effectively zero.
What this means people is that when the government can essentially take your money without recourse, the likelihood of failure is almost zero.”
Still think those Ivy League educations and Nobel Peace Prizes are a big deal?
The paper goes on to say,
…the risk-based capital standard, while based on a hypothetical economic shock significantly more severe than anything that the economy has actually experienced over the past forty years, may fail to reflect the probability of another Great Depression-like scenario.
And exactly where does America find itself? In the worst economy since The Great Depression—in other words, “a Depression-like scenario.”
I know that Obama and Orszag would like to blame Bush, as Obama “inheriting this mess.” However they have had over a year to steer the ship, yet there is no land in sight. Truth be told, America is sailing in uncharted, shark-infested waters. And it is these elitist brainiacs who have gotten us here, and they brought their own sharks!
In the history of the world, none of the policies that Orszag espoused have worked. As Rahm would opine, “Don’t let lack of results be a deterrent, particularly when you have a public to fleece.”
These guys are so full of themselves and their credentials, they ignore human nature and real world results.
As the mid-term elections loom, Orszag will not be the only Obamarats jumping ship. There will be many more. You can sense them positioning for cushy private sector jobs, likely giving secrets to puppetmasters like Soros, and his cronies. Like most of these Ivy League frauds, they get their degrees and other credentials by being the best kiss asses, and regurgitating the work of their professors and mentors. It is unlikely that any of these elitists has ever had an original thought in their entire miserable lives.
Orszag may be the smartest for bailing first. Make no mistake about it, he is bailing, because he can clearly see the writing on the wall. He found out that all his knowledge of economics isn’t worth ten cents in Zimbabwe money. Imagine having studied something your entire life, and having been told that you are brilliant, only to find out that you are a complete wackjob when you put your theory into practice.
When you have spent $1T with nothing to show for it, it’s time to hit the road. When you realize that your policies have caused America’s debt to surpass all that America can produce, it’s time to put on one’s walking shoes. Orszag realized that Obama is as useless as a salad in Rosie O’Donnell’s diet…and so is Orszag.
I hope that Orszag is a better steward of his own money, than he was with ours, or the soon-to-be Mrs. Orszag may be making the ultimate sacrifice on a street corner near you.
That’s my rant!
© 2010 Kevin Jackson – The Black Sphere, LLC – All Rights Reserved