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#1
02-26-2009
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I'm losing count. What is our deficit at now? About 3 or 4 Trillion? At what point does the rest of the world realize all these IOUs we're giving them is worthless? What value do they get out of it? We're not producing nearly enough to ever pay it back. Not before, and certainly not now. They're basically donating all kinds of products to us. Someone tell me why?
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A lesbian trapped in a man's body |
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#2
02-26-2009
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The lead paragraph tells you all you need to now about how economically fucked we are... OBAMA SENDING FIRST BUDGET TO CONGRESS February 26, 2009 WASHINGTON - President Barack Obama is sending Congress a $3 trillion-plus budget, a spending blueprint that will project astronomical deficits that reflect the cost of getting the country out of a deep recession and a severe financial crisis. Oh, and Tracy -- to answer your point about worthless IOU's, I saw someone on TV the other day who had actually run the numbers -- and you'd better brace yourself. To pay for all of Obama's plans to date, in other words to cover all of the money he's already committed us to, right now the income tax rate on every single person working in America...regardless of their income level...would have to be raised to 95%. Oh yeah, and you'd have to do that till at least 2013. These morons in Washington have crossed a line of spending insanity in ways that it's nearly impossible to tabulate anymore. Seriously, think about that -- the only way to pay for Obama's plan and to actually dig ourselves back out of this bigger deficit hole would be for every single one of us to give the government NINETY FIVE PERCENT of our income. For the next SEVERAL YEARS. I'm sure you could live on only 5% of your salary, right? But hey, look on the bright side. At least there will be a high speed train connecting Disneyland and Las Vegas. Not that you'll have any money to visit either place or even be able to buy a ticket to ride the train -- but at least it will be built! |
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#3
02-26-2009
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deficits
How come massive deficits created by democrats are so much worse than massive deficits created by republicans? Just wondering.
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"Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary." R.N. |
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#4
02-26-2009
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Canada?
by Dr. Mark Skousen
The U.S. financial system is a mess - according to the World Economic Forum, the United States ranks 40th among banking systems around the world. Without federal bailouts, the two largest banks in the country, Citibank (NYSE: C) and Bank of America (NYSE: BAC), would be in bankruptcy, and the good old USA would be headed for the Greater Depression, as my friend Doug Casey likes to call it. You'll never guess where the world's No. 1 banking system is. No, it's not fabled Switzerland, nor booming Hong Kong. While the central banks around the world are desperately trying to stem the flow of red ink, this country's red is emblazoned on its iconic mounted police force. It's right next door: Canada. The land of hockey and moose has the world's soundest banking system. While European and Asian banks are collapsing, Canada stands out as an oasis of financial calm. Canadian Banks Receive Highest Rankings According to the Global Competitiveness Report, Canadian banks received the highest ranking, a 6.8, out of a possible 7.0 (healthy, with sound balance sheets). The lowest ranking of one means insolvent and possible government bailout. Canada's stock has been rising quietly - the Canadians are known for their modesty and self-restraint - as American financiers and media are astonished to find that their northern neighbors have somehow avoided the subprime lending scandal and the housing market mess. What's Canada's secret? With the exception of oil-rich Alberta, Canada did not have a strong construction surge as the United States did during the boom years, and mortgage interest is not tax deductible in Canada. Canadian banks are national in scope. The top five banks have branches in all 10 Canadian provinces, making them less susceptible to downturns. They have large numbers of loyal depositors and a more solid base of capital, and are regulated more tightly than their U.S. counterparts - they are more liquid and less leveraged. Canadian Banks - Four of The Top 10 Largest North American Banks Lets move to Canada!  
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"Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary." R.N. |
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#5
02-26-2009
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For Trannys who love Rush
Rush later followed up, saying, "The first unsolicited reports from the upcoming female summit already in. They're saying it's a waste of time, women will not like me any more than the ones that already do, that you have to be an Oprah today in the media to attract." He said that he was nevertheless still intent on holding a summit.
Face it, Rush. We're just not that into you. UpdateJill Zimon updates on how day one of Limbaugh's "EIB Network Female Summit" went today. One highlight: One thing about the Female Summit: sorry, no transsexuals. We're not going to have anybody who's had an addadictomy, and we're not going to have anybody who's had a chopadickoffamy. We're going to have women from birth.   
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"Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary." R.N. |
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#6
02-26-2009
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First, they're not "so much worse" (to use your words). On the surface, they're EQUALLY horrible for having been created by EITHER party. Speaking as someone who would define himself as being fiscally conservative (translation: don't spend what you don't have), I will be completely fair and say I was EQUALLY pissed at Bush for the deficit that he and over-spending the Republicans did on his watch. And you know what? So were lots of other Americans, which is why voters ultimately knocked them out of office. But Second, that doesn't excuse the Democrats now doing the exact SAME thing. And let's be honest, that IS what they're doing. They realize they control the White House and both sides of Congress and -- as I noted in another post -- the far Left realizes they're operating under a clock that's ticking downward right now. They realize they have to toss money around and fund whatever Left-leaning things they can right now and before the midterm elections occur, at which point Republicans will likely pick up a few seats and gain enough votes to more effectively block things once again. Not to mention, the reason Obama's budget IS "so much worse" is because of the sheer size of it. I mean, come on, this is also the height of hypocrisy. All through the campaign season, one of the things Obama harped on again and again was Bush and his deficit spending across 8 years -- and yet now, in only ONE MONTH, Obama has actually managed to spend MORE. In one month!!! I can't wait to see what the next 3 years and 11 months bring! So in that regards this IS "so much worse". Maybe I learned something wrong growing up, but I was taught that the way to fill up a hole in the backyard was to break out a shovel and throw some dirt into it. You FILL the hole and get it back to ground level. But I certainly wasn't taught that you break out a shovel and DIG DEEPER and make the hole BIGGER. |
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#7
02-26-2009
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Although I am a democrat, I believe in fiscal conservatism. I hate debt and always made every effort to get out of it as soon as possible. I carefully invested my savings in conservative stocks and real estate. Now I see my efforts going down the tubes because of fiscal incompetence of government, bankers and speculators. Obama's spending program is terrifying and will very likely result in serious inflation (paying off debt with cheaper dollars). This will further reduce the value of my retirement savings. So what are the alternatives? War got us out of the last depression (which incurred trillions of debt) but we are already in two wars, costing trillions. We are still a rich country with lots of rich republicans. Since this country made them rich isn't it time they give some of it back?
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"Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary." R.N. |
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#8
02-26-2009
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Of course, we're also still a country filled with lots of rich Democrats TOO. So I assume you have no problem sticking THEM with a hefty bill as well, right? |
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#9
02-26-2009
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"Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary." R.N. |
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#10
02-26-2009
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Obama's only been there a month, and they've already generated 2.5 times more debt than Bush has during all 8 years of his presidency! Look at the numbers yourself. I'm not lying. All this in one fucking month! I've been doing some reading and I see what you're talking about with Greenspan. So yeah, I'll admit he's had a hand in the financial melt down. But the other stuff I mentioned about ACORN, Fannie Mae and Freddie Mac, and the CRA are also very much to blame. The real problem that is looming closer is when our debt reaches a point where other countries will no longer accept our IOUs. When they realize we don't have the ability to repay it because we're a nation of consumers rather than producers now. They will eventually make the decision to base their markets on another currency, perhaps the Euro rather than the dollar. At that point, the dollar will collapse, and you can kiss your ass goodbye. At $10 Trillion in debt, we were already putting serious strain on the worth of our IOUs. Obama's instant $2.7 Trillion deficit is probably a shock to the system and no one can say how the world will respond. This is why myself and others did not want Obama to become president since over a year ago. People called us racists, and they now celebrate the first black president. I couldn't give a flying fuck about that. I'm more concerned with the longevity of this country. He was one of the most liberal members of the senate. I knew he was going to increase the size of government and rack up a ginormous deficit, which would result in inflation and high taxes, but holy shit. I didn't expect it to be this bad. And there's no one who will stop him. Even the republicans in the house are a bunch of pussies. They collaborated with the dems to produce the additional $410B spendulous part II plan that has over 9000 earmarks in it. The republicans are no longer the conservatives we need, and the dems are rabid with power. I don't see anything that's going to keep the dollar from collapsing. Investing your money in stocks for the long term has always been the best advice because the US economy has been strong. But because of a series of events from the 1930s through the 40s when the USD was designated the international monetary standard, to the 70s when we got off the gold standard, to CRA and to the housing bubble, things are changing. When Obama and others blame all this on the last 8 years alone, it only shows they either have a very limited understanding of what is going on, or they're lying through their teeth. Sorry for all the doom and gloom, but things ain't pretty right now.
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A lesbian trapped in a man's body Last edited by TracyCoxx; 02-26-2009 at 11:55 PM. |
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#11
02-27-2009
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Debt
Yes, I have to agree with you, the volume of debt is becoming monstrous. To top it off Obama claims it can be reduced by the end of his first term. That's pure fantasy! The "experts" assure us that everything will be fine. Well IF our financial institutions and government had behaved like Canada, we wouldn't be in this mess. The people that got us into this mess are the ones saying they will get us out of it.
Panic will not get us out of this, however. If Obama can keep us from panic then there is a chance we can pull through this. He is the only one I know of who has the charisma to do it.
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"Man's capacity for justice makes democracy possible; but man's inclination to injustice makes democracy necessary." R.N. |
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#12
03-23-2009
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Damn. I hate being right about this stuff....
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A lesbian trapped in a man's body |
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#13
02-26-2009
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Clinton with a democratic congress: $225B deficit Clinton with a republican congress: $22B surplus Bush with mixed congress: $11B deficit Bush with republican congress: $339B deficit (republican bums thrown out) Bush with democrat congress: $704B deficit Obama with democrat congress: $2.7 Trillion deficit (throw the bums in prison) Do you see now that there are massive deficits, and then there are MASSIVE deficits?
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A lesbian trapped in a man's body |
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Hybrid Mode
