Thread: Ceiling SHMEILING!

I think they should make a website so that people can donate money to Uncle Sam to help get out of this mess. I am sure there are many people who are willing to help if they know how.

balancing the budget is a red herring as is reducing fed spending and especially further stimulus to increase GDP.

the main goal is to decrease income to the fed gov, the main source being from corporations and high earners in the top tax brackets. gov has no choice but to decrease in size substantially with out revenue increases (tax increases) to forecast now or in the future. this will occur at both the federal and state level pretty much from now on at different rates.

this was the hidden agenda behind the Bush tax cuts in 2001 and 2003. corporate taxes have never been the problem in the US but was sold to an public ignorant about the subject matter.

has always been about decreasing the size of government, GDP be dammed. US exports have been decreasing and demand of what little manufacturing is left. to make a long story short all the OECD countries are going broke due to wealth and income lost by each countries middle class that spends the most due to the '07 financial crisis.

Originally Posted by Curt James

"Under President Barack Obama, the debt increased from $10.7 trillion to $14.2 trillion by February 2011," according to Wikipedia's entry on U.S. debt.

Yes, Obama did not do "change" but continued GWB's policies. Increase the debt.

When GWB left office on Jan 20, 2009, the USA was $10 Trillion dollars in debt. GWB more than doubled it.

So, both GWB and Obama have basically accelerated the decline of the USA. I do realize Obama's spending was the "stimulus" because of the "crisis," but this was the problem in the first place: Too much spending/borrowing.

A radio announcer on one of the local talk shows noted that, although they're kicking around a balanced budget amendment, no plan has ever been drafted to actually balance the budget.

I studied Balanced Budgets Amendments 15 years ago. It will never happen. Also, if a Balanced Budget Amendment was passed there are many ways to get around it. They could even change the definition of a "balanced budget."

And this recent "debt ceiling deal" is a joke. It's just kicking the can down the road again.

$2.2 Trillion over 10 years? That's basically, nothing.

Originally Posted by Big Smoothy

Yes, Obama did not do "change" but continued GWB's policies. Increase the debt.

When GWB left office on Jan 20, 2009, the USA was $10 Trillion dollars in debt. GWB more than doubled it.

So, both GWB and Obama have basically accelerated the decline of the USA. I do realize Obama's spending was the "stimulus" because of the "crisis," but this was the problem in the first place: Too much spending/borrowing.



I studied Balanced Budgets Amendments 15 years ago. It will never happen. Also, if a Balanced Budget Amendment was passed there are many ways to get around it. They could even change the definition of a "balanced budget."

And this recent "debt ceiling deal" is a joke. It's just kicking the can down the road again.

$2.2 Trillion over 10 years? That's basically, nothing.

didn't matter who was the next POTUS after GWB, they were going to have to increase the deficit as there was no monies left from the last admin to spend otherwise. reduced tax receipts also "appear" to increase the deficit but it is just a lack of revenue to the fed gov so you add this to the stimulus and you get 4T very quickly. with an annual GDP of 14T that 4T is only 14% of two years of GDP.

this slight cut in spending is a good thing. it allows the private sector some room to continue to pay off revolving debt so they may spend shortly in the future while they build up some savings. unemployment is going to remain high for a long time due to the ripple effect from the slow down in GDP growth in a consumption based economy.

unfortunately people don't understand there is no "fix" for this deficit that was created in the early 2000's.

Song from 2010, creepy no?

Originally Posted by LAM

unfortunately people don't understand there is no "fix" for this deficit that was created in the early 2000's.

So, true.

How many times have I had to repeat this to people who don't read, but listen to political radio shows.

On Jan 1, 2009 the National Debt was over $10 Trillion dollars.

Originally Posted by Big Smoothy

So, true.

How many times have I had to repeat this to people who don't read, but listen to political radio shows.

On Jan 1, 2009 the National Debt was over $10 Trillion dollars.

Didn't you know? The radio shows have all the answers. Just ask Limbaugh and Hannity.

Originally Posted by stucko88

Song from 2010, creepy no?

No.

^^^^ Cool lyrics.

Originally Posted by Curt James

^^^^ Cool lyrics.

I agree, but there was nothing creepy about it.

He never mentioned the debt ceiling or anything related, and plenty of artists' talk politico shit in their music.

Originally Posted by Curt James

"Under President Barack Obama, the debt increased from $10.7 trillion to $14.2 trillion by February 2011," according to Wikipedia's entry on U.S. debt.

A radio announcer on one of the local talk shows noted that, although they're kicking around a balanced budget amendment, no plan has ever been drafted to actually balance the budget.

Also, he stated every family of four carries about $140K in debt. I might have that number wrong, but you can be damn sure it's not $12.72 per citizen.

Saw this too while Googling: U.S. National Debt Clock : Real Time

Close to 4 trillion in a short amount of time is impressive