Budget deficits and National debt. No more excuses.

[Andy]

Deteriorating economic conditions will cause the federal deficit to soar past $1.8 trillion this year and leave the nation wallowing in a sea of red ink far deeper than the White House had previously estimated, congressional budget analysts said today.

Huh... the deficit under Bush was $400 Billion. Now the deficit is $1.8 Trillion? This must be part of Obama's new "hope and change". I already hope we change who's president.

By the CBO's estimate, for example, the nation's debt would grow to 82 percent of the overall economy by 2019 under Obama's policies, compared with a pre-recession average of 40 percent.

CBO btw, is Congressional Budget Office. Do tell who is in control of Congress right now? Point being, I highly doubt these are inflated numbers by 'evil republicans' trying to bring down the messiah.

Senate Budget Committee Chairman Kent Conrad (D-N.D.) has said the gloomier CBO forecast would require "adjustments" to Obama's budget, though he declined to specify what changes would be necessary. To reduce the deficits, Democrats could dial back Obama's spending plans or find new sources of revenue.

Dial back Obama's spending plan? Not a chance! He's wonderful, all knowing, brilliant teleprompter reader that will fix everything! Right? So I guess it's new sources of revenue... taxes baby! They are on the way!

U.S. Federal Deficit Soars Past Previous Estimates

Really? Soars past estimates? No kidding? I'm shocked... really.

 

[Pidgey]

If you increasingly tax a bunch of people who are essentially already insolvent... you just get even more insolvency. Tax revenues and receipts are going down this year even worse than for calendar year 2008. Seeing as how foreigners are shedding treasuries as fast as they're maturing, there's simply going to be a massive budget shortfall or it's to the printing presses. Either way's a real loser given that we import (on disappearing credit) too much of our stuff and the value of the dollar is going down exponentially. There will be people with pitchforks...

 

[Mr. Shaman]

Dial back Obama's spending plan? Not a chance! He's wonderful, all knowing, brilliant teleprompter reader that will fix everything! Right? So I guess it's new sources of revenue... taxes baby! They are on the way!

It's called Precedence, Skippy!! (i.e. Going with what we KNOW works.)

​

 

[Andy]

It's called Precedence, Skippy!! (i.e. Going with what we KNOW works.)

​

Yeah, it's worked so well, we already have estimates that our new debt will be double before the end of Obama's presidency, if we're stupid enough to vote him in twice.

 

[Dr.Who]

If you increasingly tax a bunch of people who are essentially already insolvent... you just get even more insolvency. Tax revenues and receipts are going down this year even worse than for calendar year 2008. Seeing as how foreigners are shedding treasuries as fast as they're maturing, there's simply going to be a massive budget shortfall or it's to the printing presses. Either way's a real loser given that we import (on disappearing credit) too much of our stuff and the value of the dollar is going down exponentially. There will be people with pitchforks...

They are already going to the printing press and the dollar has already dropped about 5% as a result.

That means every dollar than any single American has in a retirement account, or a bank account, or in a house, or in a car, or in a salary, is suddenly worth 5% less.

That is a pretty big tax to saddle on 100% of Americans in hard times.

5% of American wealth (not just of some people's incomes) has just evaporated and that translates into some people not being able to afford to buy things that they need to get to stay alive. In an economy of our size there will be deaths and suffering as a result.

 

[Mr. Shaman]

Yeah, it's worked so well, we already have estimates that our new debt will be double before the end of Obama's presidency, if we're stupid enough to vote him in twice.

....Kinda like ReRon, huh?


​

"There is no doubt that President Obama's economic measures, passed and proposed, will raise tax rates on the richest Americans to pay for increased government funding of health care, green energy and education. So the new president is indeed a redistributionist, but so was Ronald Reagan, except that Obama's plans will transfer wealth from the rich to the poor, whereas Reagan's bills transferred wealth from the poor and the middle class to the opulent. In fact, Obama's measures are puny, whereas Reagan's were massive. If the Democrat is a "small" socialist, Reagan was the Great American Socialist."

 

[Mr. Shaman]

5% of American wealth (not just of some people's incomes) has just evaporated and that translates into some people not being able to afford to buy things that they need to get to stay alive. In an economy of our size there will be deaths and suffering as a result.

I think Republicans' dedication to health-care, in the U.S., has already started-that-ball-rolling.

​

 

[Dr.Who]

I think Republicans' dedication to health-care, in the U.S., has already started-that-ball-rolling.

​

At present no person in the united states is unable to get health care one way or another. And that is not the fault of republicans since that is the way it has been for multiple administrations now. Additionally, it is closer to what was established by our founding fathers as how it is supposed to be in this country.

What will happen as a result of the drop in the value of the dollar is that people who are presently paying for drugs on their own now will not be able to afford them as well. Some of those people will choose to do without rather than choose to go on public aid. Some of those people will end up with deaths as a result of the drugs they are skipping. It is their choice and they do have an alternative but that is the way it is and that is the consequence of printing dollars out of thin air.

 

[PLC1]

I agree. No more excuses.

For six years, we were in a "world war", so spending went through the roof, and the debt soared to ten teradollars. Bush's goal of halving the deficit in four years, modest as it was, evaporated. The next excuse was the recession, and that brought that deficit that was to have been halved to what? A trillion by the end of the fiscal year? No one really knows yet, but we do know that the pre recession deficit was $477 billion.

Now, enter a new president with his own party in power in Congress, and the sky's the limit! The new excuse, the need for a "stimulus" has grown the deficit beyond the wildest dreams of the previous administration, even when they had their own party in power. The promise? Why, we'll halve the deficit in four more years. I think we've heard that one before.

Where is all of the spending going to end? The federal government is like a train picking up speed, the faster it goes, the faster it goes, and the harder it is to stop. Right now, it's full steam ahead, and no one is even touching the brakes.

Scary times to say the least.

 

[chestnut]

Congress is out of control. Everyone on this forum should be contacting their reps in Washington.

We are all very politically minded here and this is not a left or right issues. This is a spending issue.

Congress works for us. We need to remind them of that. Find a taxpayer teaparty local in your area and participate.

July 4th is to be a teaparty march in washington. April 15th will be another big day around the U.S.

How many people on this forum realize that their kids, and grandkids are already in debt for over 30,000.00 dollars?

Crazy huh?

We should quit bickering and band together to stop Congress.

No more bailouts. No more trillion or more bills.

 

[chestnut]

It's called Precedence, Skippy!! (i.e. Going with what we KNOW works.)

​

Shaman. I hope you wake up and see that we all are going to feel the pain. Even you, one day.

 

[Phoenix68]

Huh... the deficit under Bush was $400 Billion. Now the deficit is $1.8 Trillion? This must be part of Obama's new "hope and change". I already hope we change who's president.

Obama Goes To GOP Lions' Den
March 31, 2010
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​

 

[Phoenix68]

It's called Precedence, Skippy!! (i.e. Going with what we KNOW works.)

​

Shaman. I hope you wake up and see that we all are going to feel the pain. Even you, one day.

President Biden's Economic Performance Has Proved Unbeatable

​

 

[Phoenix68]

Budget deficits and National debt. No more excuses.​

Huh... the deficit under Bush was $400 Billion. Now the deficit is $1.8 Trillion? This must be part of Obama's new "hope and change". I already hope we change who's president.

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Cleaning-Up After Lil' Dumbya
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U.S. Economy Under Barack Hussein Obama; 2009-2017
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Spanky Trump = THE KING OF DEBT!!!!!
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Try To Imagine A U.S. Economy....Without A Democratic Party
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[Phoenix68]

Huh... the deficit under Bush was $400 Billion. Now the deficit is $1.8 Trillion?

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Yeah, HE SURELY DID FUCK-THAT-UP!
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President Clinton announces another record budget surplus
September 27, 2000
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"U.S. Economy Screwed"
January 13, 2008
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It's nature's way!!!!
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