Janet Yellen sees Nothing Wrong with Massive Entitlement Spending

by: Brent Smith at the Common Constitutionalist

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In 2015, about 65% of the entire federal budget of $3.8 trillion was spent on entitlements like Social Security, Medicare, Medicaid, housing assistance, and such. But this can’t possibly be the cause of the national debt and permanent deficit spending. No – of course not. It’s the Trump tax cuts that are killing us. The fact that they’re only months old is completely immaterial.

The socialist Nanny-State has been constructed over a period of about 80 years, where as tax cuts have been few and far between, happening only four times since JFK initiated the first. Yet are we expected to believe that it is not entitlements which are blowing up the budget, but tax cuts.

Now what idiot would believe such a thing? Unfortunately, considering the source of the claim, many will tend to believe such a ridiculous assertion.

And the source is none other than Janet Yellen, former Chief of the Federal Reserve. She also served as Chair of President Bill Clinton’s Council of Economic Advisers – so she’s got that going for her. read more

We Know the Economy Stinks – So Stop Your Yellen

By: the Common Constitutionalist

It’s all about the economy, stupid! Isn’t that what democrat strategist James Carville reminded us all in 1992?

Actually, he said it as part of a 3-pronged point – “The economy, stupid” – “Change vs. more of the same” and “Don’t forget health care.”

But of course, what stuck – what everyone remembers is “It’s the economy stupid.”

Frankly, the Republicans could steal Carville’s 3-pronged slogan word for word. We are 23 years removed from Carville’s famous phrase and it’s more applicable today than it was then.

But I thought the economy has been improving. Barely a month and half ago, the Politico told us, so it must be true. They wrote that “The United States economy is increasingly the envy of a struggling world…The economy created another 252,000 jobs in December, a record 58th straight month of private sector gains. The [U3] jobless rate dropped to 5.6 percent, nearly back to normal after peaking at 10 percent in October of 2009. And the economy turned in a robust 5 percent growth rate in the third quarter of last year.” So I guess that makes us the best of the worst?

Evidently Democrats agree with this assessment as the Politico reports that Republican claims of a weak economy are just “sour grapes from partisans whose warnings of a disastrous ‘Obama economy’ look increasingly ridiculous.” read more