Everything Obama Learned About Fiscal Responsibility. . . .

According to Gregory of Yardale at moonbattery.com:

Everything Obama Learned About Fiscal Responsibility. . . .
. . . .he learned in Illinois State Government.

The state of Illinois -- broke, overleveraged, and still refusing to get its accounts in order -- is up to something interesting: selling bonds to meet its pension obligations. ... "States don't traditionally fund their pensions with debt," says CNN in a nice bit of understatement, "but the practice frees up other money that can be used for operations." The double whammy here is that Illinois's pensions are in trouble because it already spent the money it needed for its pension contributions in past years on other spending: Which is to say, Illinois is borrowing money it will have to repay eventually to repay the pension money it already spent to pay for other spending it couldn't afford then and can't afford now.

Sounds like Obamanomics to me.

You wonder how Obama learned to explode a crazy $400 Billion Bush Deficit into a psychotically insane Trillion Dollar Plus deficits while achieving nothing in the way of economic stimulation? He learned from the masters.

So, what's Schwarzenegger's excuse?