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  1. #1
    Join Date
    Aug. 4, 2011
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    Default Our Nations ENORMOUS DEBT

    Alright , this is a very very seious issue that really gets little to no attention in the press. Congress will be in the enviable posistion of whether or not to approve debt ceiling increase, probably as early as next week,,,, I think we are near the $16.4 TRILLION ceiling. In other words, the govt is calling AMEX and needs some more credit. I think they should not approve anymore borrowing, period. Let the FED spend what they take in as revenue. That would mean they would have to cut about $1.5 TRILLION from the current budget.

    There is no end on the horizon, there is no hope for change under Obama. If I could put this post in a time capsule and fast forward 4 more years, I would bet my salary that the US ENORMOUS DEBT will be close to $20 TRILLION.


    11 members found this post helpful.

  2. #2
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    May. 8, 2006
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    Default

    Don't blame Obama. While he has played a part, Congress is who you want to be angry at.

    I'm pretty sure none of them even understand the concept of balancing a checkbook and living within one's means, let alone creating and balancing a budget.

    I'm just taking care of us and stockpiling. Don't use credit, live well within our means, and plan. I have faith we'll recover and be fine. I have no idea what's going to happen between now and that recovery.
    To be loved by a horse should fill us with awe, for we hath not deserved it.


    5 members found this post helpful.

  3. #3
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    Dec. 28, 2001
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    Default

    I am not sure what sources you use for news, but I have seen and heard quite a lot in the press regarding this issue.
    Auventera Two:Some women would eat their own offspring if they had some dipping sauce.


    3 members found this post helpful.

  4. #4
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    Aug. 1, 2003
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    Georgia.
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    Default

    Quote Originally Posted by RockinHorse View Post
    I am not sure what sources you use for news, but I have seen and heard quite a lot in the press regarding this issue.
    The sad thing is the only thing I have heard in the press is to raise taxes on the wealthy...NOTHING on cutting spending! Raising taxes on the wealthy will NOT cut the deficit and keep the US from going over the fiscal cliff! The US must cut spending & reforming medicare & social security.


    9 members found this post helpful.

  5. #5
    Join Date
    Oct. 9, 2007
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    Central NJ
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    Default

    Ummm.....the FISCAL cliff will raise taxes and cut spending, but in a very ham fisted way

    It is not a physical cliff, like an actual one.


    2 members found this post helpful.

  6. #6
    Join Date
    Aug. 4, 2011
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    Default

    Quote Originally Posted by Green Acres View Post
    The sad thing is the only thing I have heard in the press is to raise taxes on the wealthy...NOTHING on cutting spending! Raising taxes on the wealthy will NOT cut the deficit and keep the US from going over the physical cliff! The US must cut spending & reforming medicare & social security.
    This,, the additional revenue from O's tax increases cover govt spending for, what one week?


    5 members found this post helpful.

  7. #7
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    Aug. 4, 2011
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    Default

    Quote Originally Posted by randomequine View Post
    Don't blame Obama. While he has played a part, Congress is who you want to be angry at.

    .
    Sorry Obama gets full blame for everthing under his watch.. Libs were so quick to blame everything on Bush,,, so O gets the blame, Hes #1 .


    10 members found this post helpful.

  8. #8
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    Jan. 26, 2010
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    Default

    Please don't feed the troll, folks.


    6 members found this post helpful.

  9. #9
    Join Date
    Nov. 6, 2001
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    Default

    What is your definition of troll? I see nothing trollish in discussing the deficit.


    6 members found this post helpful.

  10. #10
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    Default

    The OP. Go check some posts and the agenda. Discussing won't happen.


    3 members found this post helpful.

  11. #11
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    Nov. 6, 2001
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    Default

    I have, and I've checked yours too. Pot calling kettle.......


    14 members found this post helpful.

  12. #12
    Join Date
    Oct. 25, 2006
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    Central Illinois
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    875

    Default

    No troll on this thread. She speaks the truth. Just cuz you may not like the facts, doesnt make them not true, BTDT.

    OP - yes, I agree. The press is helping Obama sell the idea that taxing the RICH will raise enough money to pay our debt.

    Of course, that is a LIE. There is NOT enough money!

    I think I heard that if the Govt took 100% of EVERYONE'S income, the Govt would STILL spend more than that in ONE year.

    It is the spending that is completely out of control.

    Obama gets full blame. He has NO budget at all since in Office. He has increased spending like crazy.

    Just wait, Obamacare will make your medical expenses & insurance sky rocket even more than it has in the last few years.

    Plus, he wants higher taxes for an ever widening group of our Society.

    Our ecomony will continue to worsen. Small business owners will be hit by higher health care AND taxes, so will be hiring LESS people. Unemployment will stay high.

    This is just the beginning of it, I am afraid


    14 members found this post helpful.

  13. #13
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    Jan. 26, 2010
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    Default

    Shermy! I thought you had changed your name to Noms. jr--read for comprehension, or join the trolls, aka, "it's ALL Obama's fault and the world is falling apart!" Carry on.


    4 members found this post helpful.

  14. #14
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    Jun. 4, 2002
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    Default

    Quote Originally Posted by randomequine View Post
    Don't blame Obama. While he has played a part, Congress is who you want to be angry at.
    Are you joking? Congress has passed several budgets and sent them to the Senate where Senator Reid, the Democratic Senate Majority leader, has refused to allow a vote on them. Congress addressed the issue of the Fiscal Cliff months ago but the Democratic controlled Senate did NOTHING. Obama needs to LEAD and quit campaigning to keep the class war stirred up. If he told his Senate to get on the ball, this would have been settled a long time ago.

    This is all such a joke...this fiscal cliff nonsense, that it's not even funny anymore. It's a political GAME by Obama directed at stirring up resentment by the populace to blame the Republicans for not giving him everything he wants which is more taxes on the "wealthy" and more spending with no significant spending CUTS. Once we go over the cliff, he will put the Rep's in such a bad position they will be forced to give him some more of what he wants and then he can take credit for "saving the middle class." It's a game...and the real issue is not even being addressed.

    Truth is that we are already screwed...fiscal cliff or not. Our country is barreling down to a major crash soon. The gov't borrows $.48 cents of every dollar it spends. They are that freaking in the hole and digging it deeper by the day.


    16 members found this post helpful.

  15. #15
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    Oct. 25, 2006
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    Central Illinois
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    Default

    Yeah, keep saying that Obama has no blame in this, yet is all Bush's fault.

    Obama didnt spend all that money, stimulas & Obamacare for just two examples, RIGHT?!?!

    If Obama was so right on the issues, then WHY didnt things greatly improve under his last term???? PLEASE ANSWER THAT!!

    Obama had FOUR years, almost half w/control of the Senate in which Obama had unpreceded power, to FIX or at least improve our Economy.

    Things got worse, NOT better. WHY??? Here is your discussion that you said you wanted........


    10 members found this post helpful.

  16. #16
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    Aug. 30, 2011
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    Massachusetts
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    Default

    Who cares who's fault this is???

    This is a huge problem!!!


    4 members found this post helpful.

  17. #17
    Join Date
    Nov. 6, 2001
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    Fairfax
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    Default

    In the end, I have no doubt dealing with the deficit will require economic growth, budget cuts, and new taxes.

    But as someone already taxed greater than 50 percent when all taxes figured in, and with an effective fed income tax rate close to 30 percent, could we please cut first and then add taxes once you've seen how far the cuts take us?

    Fiscal cliff aside, my taxes go up another 2 percent jan 1st due to the Affordable Care Act, and will go up yet another 2 plus percent once they get around to taxing my "cadillac" employer health plan benefit.

    This goose is about done laying golden eggs.


    10 members found this post helpful.

  18. #18
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    Jun. 4, 2002
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    Default

    The revenues from the tax increase on the top 2% would pay to run the gov't for 8.5 days...that's all. It's not enough money to do diddly squat to the deficit. It's a political class warfare game and it will damage small businesses causing even more economic problems and lost jobs. That is why the Republican Congress has been so opposed to agreeing to it. They tried to compromise and offer to raise that revenue in other less damaging ways to the economy as well as raising taxes on millionaires only and Obama refused..he wants his tax increase...stomping feet like a big baby and blaming someone else. He's the dude in charge...time to put the blame right where it belongs.


    8 members found this post helpful.

  19. #19
    Join Date
    May. 8, 2006
    Location
    Northern Indiana
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    759

    Default

    Why didn't anything get better?

    Because we let them do it.

    I firmly believe that if the general populous got their own acts together (i.e. not borrowing on everything, keeping an emergency fund, living within their means, etc) that we wouldn't allow the kinds of crap our representatives pull.

    No, I will not blame Obama for everything. I also certainly won't absolve him of all blame. I didn't blame Bush for everything. I won't absolve him of all blame either. However, I will not accept this armageddon 'Omgggg America is going to endddddd!' mentality either. Some people think I have blinders on, but I have personal and professional relationships with several excellent economists and political science professionals.....their outlook is a lot less terrifying. It's not roses and butterflies, but it's not end of the country as we know it.
    To be loved by a horse should fill us with awe, for we hath not deserved it.


    9 members found this post helpful.

  20. #20
    Join Date
    Oct. 25, 2006
    Location
    Central Illinois
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    875

    Default

    Hmmm, cuz it matters.

    I think it is important to know what the RESULTS have happened from Obama's policies. For FOUR years, our Economy has NOT improved, in fact, got much worse.

    NOW, Obama is claiming to "KNOW" how to save us from his crushing debt and the Fiscal cliff. Taxing the RICH will somehow come up w/ALL the money Obama needs. NOT TRUE BY THE WAY.....

    I guess, I look at history. If someone says they know the answers, yet never fixes anything, I tend to discount THAT opinion & look at other people for the answers.

    Obama has spent us into incredible debt. He has talked and done VERY little about cutting his massive spending. TAX RAISES are all Obama has talked about, isnt it??

    Again, that will NOT create near enough money needed and will kill lots of jobs.

    It is NOT the answer, but THAT is all the Obama & the Media talk about, isnt it?


    7 members found this post helpful.

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