'This is our moment': US Government running annualized $1.55T deficit as hope, change and central planning policies poison economy

Another economic record has fallen by the wayside as President Obama's plan for reshaping the economy takes hold. Virtuous Republic points us to the Treasury Department's December 2009 Budget numbers (fetchingly titled "SUMMARY OF RECEIPTS, OUTLAYS AND THE DEFICIT/SURPLUS BY MONTH") -- and they represent startling evidence of the Democrats' ruinous fiscal policies.

...despite running an almost $92 billion dollar deficit in December and a $388 billion fiscal year deficit, the Obama administration and the 100% controlled Democratic Congress have little to show for it. Unemployment remains at 10% and 85,000 Americans lost their job in December.

So Soviet style, top down, 5 year like plans have failed miserably throughout history and they are failing now. I guess that is policy you get when your ruling elite class attends a university system that is the last refuge for aging Marxists.

It gets better, well better if one is lecturing a bunch of leftists who hate the capitalistic system that allows them to excel. Tax revenues are down and of course that points out the obvious, that the Soviet like economic policies of our Democratically controlled government are failing to revive American business and the fortunes of the employed (or those who would like to be employed). Declining revenues might be one thing if they were caused by actual tax reductions for individuals and business, but that isn’t the case as the Obama “tax cuts” are only reductions in withholding (just wait until April comes around).

So, after running a record-setting $1.4 trillion deficit, the Obama recovery translates to a... $1.55 trillion deficit for 2010.

And the hits just keep on coming.

Yep, you read that right: individual income taxes are down nearly 20% year-over-year, while corporate income taxes have dropped nearly 33%!.

But remember, folks, President Obama says the recession is over.

Perhaps that's because it's transitioned to a flat-out depression. And, don't look now, but socialized medicine represents the coup de grâce to an economy that is wheezing, flat on its back.

Hello, Dr. Cloward? Dr. Piven? Your students' plan is working to perfection.


Update: Jim Hoft illustrates the Cloward-Piven strategy in action.

Fasten your seatbelts, kids -- it's gonna be a bumpy ride.


Linked by: Patterico. Thanks!