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The deficit

Discussion in 'U.S. Politics' started by Dr.Who, Feb 26, 2009.

  1. Dr.Who

    Dr.Who Well-Known Member

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    The new stimulus bill raises the deficit owed by each family by unprecedented amounts. That is not just some arbitrary number that the gov owes but that is what your share of the debt is. Here it is in detail:

    The bill costs the average U.S. family about $3,300, and it raises the national debt by about $7,700 per family.

    Let’s go through that.

    The bill spends about $5,500 per family, or $1,750 per person.
    It reduces taxes by about $2,200 per family, or $700 per person.
    Total cost (using our methodology): $3,300 per family, or $1,050 per person.
    Added to national debt: $7,700 per family, or $2,450 per person.
    http://www.cato-at-liberty.org/2009/02/13/the-cost-per-family-of-the-deficit-spending-bill/

    http://www.financialsense.com/fsu/editorials/schiff/2005/0610.html

    Remember that adds to what your share is that was leftover from all the previous administrations.

    The previous bill was $33,468 per person. "This means a family of four (4) shares $133,872 in federal debt responsibility - - including those still in diapers - $14,585 per family more than last year." Only $7,700 of that is due to p. Obama. the remainder is due to the interest that we owe on that borrowed money every year.

    The debt has done nothing but go up ever since our gov first incurred it. For a brief period in there the debt fell but that was due to due to "historic low manipulated interest rates, effectively siphoning-off senior citizen interest earnings on their savings," the ignoring of social security costs and medicare costs, and the disregard for the future benefits that will be paid out to "civil servants and military personnel." In other words the deficit is much higher than is being reported "officially" and the problem is in paying for huge social programs and government employees.

    http://www.usatoday.com/news/washington/2006-08-02-deficit-usat_x.htm
    http://mwhodges.home.att.net/debt_b.htm

    In fact, "In the 4 years 1997-2001 total federal debt increased $438 billion,
    a period when politicians bragged about a $557 billion surplus.
    That's a $1 Trillion creditability gap."

    Bush was no better than Clinton, even worse, "An additional $4 trillion of debt was added in 2002-2008."
    http://home.att.net/~mwhodges/debt.htm

    But in his first month in office P. Obama has made all the previous administrations look like they were downright frugal even though all of them increased the debt.

    Our founders knew the danger of this debt.

    "At the writing of the Constitution they were concerned about debt incurred to finance the Revolutionary War, and it was their intention to promptly pay it off. Alexander Hamilton (federalist paper #7) called for the "extinguishment of all debt." Thomas Jefferson later wrote, "I place economy among the first and most important of republican virtues, and public debt as the greatest of dangers to be feared." "

    There is only one solution:

    Cut spending!!!!

    I have to do it. You have to do it. the only entity that thinks it is immune from doing it is congress. But if they don't it will destroy us and we will eventually be owned by the Chinese.
     
  2. Dr.Who

    Dr.Who Well-Known Member

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    By the way, regarding who owns that money that was lent to us:

    "Of the $10.7 Trillion in total Federal government debt outstanding at the end of CY 2008, approximately $6.4 Trillion was owed to the public (foreign and domestic) in the form of treasury bonds and T-bills. Of that $6.4 trillion, 49% $3.1 Trillion, was owed to foreign interests."
    http://home.att.net/~mwhodges/debt.htm

    That means that $6.4 trillion is lent by rich individuals both in this country and in other countries. And we pay the interest back to those rich people so that they can become richer.

    And $3.1 trillion is owned by other governments. So that we can make their economies stronger.

    First thing to do:

    Cut spending

    Second thing to do:

    Buy back those T-bills from foreigners so that at least it will be Americans who benefit.
     
  3. Pidgey

    Pidgey Well-Known Member

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  4. Dr.Who

    Dr.Who Well-Known Member

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  5. Pidgey

    Pidgey Well-Known Member

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  6. Pidgey

    Pidgey Well-Known Member

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  7. Mr. Shaman

    Mr. Shaman New Member

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    .....And, the Bush-family has risen it to an art-form. :rolleyes:

     
  8. Dr.Who

    Dr.Who Well-Known Member

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    You have sunk to a new partisan hack low.

    Blaming Bush for increasing the deficit over 8 years is fine. But blaming Bush while ignoring that Obama is in the process of doubling it in onemonth makes you a shame-man.
     
  9. Mr. Shaman

    Mr. Shaman New Member

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    Ohhhhhhhhhhhhhhhhhhhhhh.....so, Obama isn't entitled to a full 8 years, before any accurate-comparison is made, huh?

    How consistant of you.

    :rolleyes:
     
  10. chestnut

    chestnut New Member

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    He won't make it 8 years.

    If he keeps up at the rate he's going the country may not make it more than 3 more.

    Bush has been criticized and always be criticisized. That still doesn't mean that quadrupling our debt is right.

    Especially, when most of that debt is to "GROW GOVERNMENT"
     
  11. Dr.Who

    Dr.Who Well-Known Member

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    Of course he is not entitled to 8 years.

    In one month he has done the bad thing that Bush did in 8 years.

    At the end of his term it will either increase more in which case he is worse than Bush or he will steal from people who have been convicted of no crime to pay it off and that is even worse.

    If he had any plans whatsoever to decrease the total amount of government spending as the means to reduce the deficit that he could get credit for that. But we all know he only plans to cut programs that fail to be socialistic or make symbolic cuts. The total gov spending will not decrease.
     
  12. Mr. Shaman

    Mr. Shaman New Member

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    How consistant, of you.

    Change the parameters of the game, and you always win.

    :rolleyes:
     
  13. BigRob

    BigRob Well-Known Member

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    A President serves a 4 year term. No President is "entitled" to two terms. He can "earn" a second term perhaps.
     
  14. Popeye

    Popeye Active Member

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    If the economy has turned around by 2012...Obama will win a second term easily. Which is why many Republicans.. Limbaugh, DeLay, and Malkin just a couple of examples, are rooting for Obama and by extension the country to fail.
     
  15. Pandora

    Pandora Well-Known Member

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    Not so Popeye

    I dont know about Malkin and DeLay but I listen to Rush daily and what he wants and has said over and over that he wants the Socialist policy to fail

    If socialism succeeds (short term) we are stuck with it and our country is no longer what it was founded on. If a person loves the United States and capitalism they would not want a government that runs our lives.

    If Obama was trying for free market solutions every conservative would be cheerleading for him, except the guy who plans to run against him I supose that guy would not be much of a cheer leader
     
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