There are some very disturbing sounds coming from the President-Elect. Even more disturbing is that only a small number of people in the progressive blogsphere have picked up on what’s been said.

Stirling Newberry warned yesterday that Obama Puts New Bank Bailout in Stimulus Bill - allowing financial companies to use losses in this crisis to “recover” taxes paid on profits going back five years! As Newberry notes, “The Wall Street Journal calls it a bonanza.”

But even worse, is what Obama had to say about what he is considering now:

“We expect that discussion around entitlements will be a part, a central part” of efforts to curb federal spending, Mr. Obama said at a news conference. By February, he said, “we will have more to say about how we’re going to approach entitlement spending.”

^{This article is one in a series from the Manufacturing & Technology News Articles}

In just the past seven years, U.S. household debt almost doubled and federal debt soared by near two-thirds, rocketing by a combined $10.5 trillion. The total combined debt of households ($14.4 trillion) and the federal government ($9.2 trillion) is now 168 percent of GDP, far higher even than in the brief spike during World War II. All other levels and ratios of debt also have soared far beyond any past precedent.

Yet, this record-shattering explosion of debt stimulus created the weakest seven-year job growth (4.4 percent) and one of the weakest periods of real GDP growth (18.1 percent) since the Depression: less than 6 million new jobs ($1.8 million of debt per job) and a mere $4 trillion increase in GDP.