Got 1.5 trillion to spare?

[doobnVA]

It means they have already shot their wad. The FED doubled the currency in cuirculation before Obama took office. then the govt. borrowed like crazy, and produced hardly any results with that money. That's called.... failure.

The FED has NO CHOICE but to reign in the money, lest inflation and devaluation of the dollar become more of a problem then they are already. The dollar slides and slides, making the uphill slope even steeper for everyone..... thanks govt!!

It is of course the private sector which is recovering DESPITE the govt. meddling. As usual. Another indication that Obama hasn't a clue on how to fix the economy.

It's all trying to counteract the inane spending policies of a govt. when it is broke.

Can the private sector save us from Obama? Perhaps.... but at a cost... always.

It's the Asian markets NODRAMA.... that's where you should be investing right now. They are on fire over there. Outperforming Obama's economy completely. Now that is embarrassing, but profitable for the keen minded.

The economy was in horrible shape when Obama took office. Why did they have to borrow money? Because G.W.B. left us in a very deep hole, approximately 50-odd BILLION dollars deep if you add it all up.

 

[CrackerJax]

50 Billion... compared to a Trillion? Get serious... oh I forgot.... you can't.

Debt is always linked to GDP. Can the country PRODUCE?

The catastrophe was caused by the govt., not the private sector. The private sector is where all of the inane policies of the govt get flushed out.

The money went to the banks who took on far too much risk. Of course they were told by the GOVT. that everything was guaranteed.... write those bad loans.

We all know the govt. ran away pointing fingers as fast as they could. Somehow that now convinces ppl that the first one to point a finger must be correct. Non thinkers.

Bush Bush Bush... it's getting old and no one is buying that crud anymore. Obama is to blame.

It is his policies which are driving us downward. No one else. Quit pointing fingers, and just look in the mirror..... it's you.

 

[doobnVA]

50 Billion... compared to a Trillion? Get serious... oh I forgot.... you can't.

Debt is always linked to GDP. Can the country PRODUCE?

The catastrophe was caused by the govt., not the private sector. The private sector is where all of the inane policies of the govt get flushed out.

The money went to the banks who took on far too much risk. Of course they were told by the GOVT. that everything was guaranteed.... write those bad loans.

We all know the govt. ran away pointing fingers as fast as they could. Somehow that now convinces ppl that the first one to point a finger must be correct. Non thinkers.

Bush Bush Bush... it's getting old and no one is buying that crud anymore. Obama is to blame.

It is his policies which are driving us downward. No one else. Quit pointing fingers, and just look in the mirror..... it's you.

I meant 50 TRILLION, not billion. Damned finger-memory.

Compare the 50 TRILLION we were already in the hole to the 1 Trillion the Obama policies have contributed.

I think you'll see where the real problem began.

When GWB took office, we had a SURPLUS. You seem to forget that.

EDITED to correct another billion/trillion typo.

 

[CrackerJax]

Bush did not put us 50 trillion in debt. You are so misinformed it isn't funny. I didn't like Bush much fiscally, but using him as a defense for the same policies times 100 is ludicrous.

If you were against Bush's fiscal policies, you should be pulling ur hair out with Obama.

Ur just a hypocrite. I am not. Both are bad.... but Obama is far far the worst. It's not even close.

Obama is making the US citizen unhappy. Unhappy ppl don't produce. Socialism takes away the happiness. It won't work... it doesn't work... anywhere. Try and find me a happy prosperous socialist system. There isn't one.

 

[doobnVA]

Bush did not put us 50 trillion in debt. You are so misinformed it isn't funny. I didn't like Bush much fiscally, but using him as a defense for the same policies times 100 is ludicrous.

If you were against Bush's fiscal policies, you should be pulling ur hair out with Obama.

Ur just a hypocrite. I am not. Both are bad.... but Obama is far far the worst. It's not even close.

Obama is making the US citizen unhappy. Unhappy ppl don't produce. Socialism takes away the happiness. It won't work... it doesn't work... anywhere. Try and find me a happy prosperous socialist system. There isn't one.

The United States' unfunded liabilities are close to 60 trillion dollars. That means we need 60 trillion dollars just to fund programs and pay "bills" and deficits that already exist.

http://www.usdebtclock.org/

http://www.usatoday.com/news/washington/2007-05-28-federal-budget_N.htm

Tell me how that isn't 60 trillion "in the hole", because it absolutely is.

Looking at JUST the "deficit" doesn't show the whole picture.

 

[CrackerJax]

So you think going full bore in the same direction is the answer? lawdy.... you are naive.

That's total debt.... not just Bush. Oh, and wars are expensive. Check your history books.

 

[Green Cross]

So all the talk is about health care these days, seems like the far more important subject of economy has been forgotten.

Lets sum it up shall we?

We (The taxpayer) have GIVEN 1.5 trillion Dollars to the big banks so they would not collapse. They in turn have purchased under performing banks and investment firms ( Wachovia, Merrill Lynch etc ) with that money and the rest they then LEND AT INTEREST back to the USA to fund its expenses and deficits. Between the Wars and the Bailouts the govt has already spent all its income, so they must sell T-Bills and T-Bonds ( US debt) to either foreign countries or have it Monetized by the Federal Reserve in order to pay employee pensions and paychecks, pay the utilities, provide for infrastructure, pay for welfare programs, pay for Cash For Clunkers etc etc etc, all the stuff that government spends money on.

Why do we do this? We take our own money and give it to someone else so that they can then lend it back to us and we will pay them interest? Economic Suicide.

China is Actively promoting gold and silver sales to the public, all Chinese banks now carry bullion so that the average citizen can buy on the spot. What does this mean? The end of the Dollar, because Gold and Silver are real money and are treated as such by all the big banks. You see the big banks don't pay their bills with currency, they pay with Gold. When you have the largest Country all of a sudden come on line and start buying all that metal, its a pretty good bet that the price of G & S is going to rise. When the price of gold rises, the American dollar loses value. When gasoline is $10 a gallon along with Milk and Bread you will know what this means. Your new cash for clunkers 35MPG vehicle will be too expensive to drive anywhere.

Rant off, continue to ignore the economy because of the temporary Stock market bubble and the Health care issues to your own detriment. Suggestions: Sell all US Dollar denominated stocks and Bonds, purchase Canadian or Asian stocks and bonds. Buy as much gold and silver as you can. Buy Guns, Ammo, Whiskey, Sugar and hope it all doesn't go to crap.

It's a shame much of the American public has been so dumbed down that they don't even understand economics. Poor sheeple being led to the slaughter

 

[NoDrama]

It's the Asian markets NODRAMA.... that's where you should be investing right now. They are on fire over there. Outperforming Obama's economy completely. Now that is embarrassing, but profitable for the keen minded.

Read the first post, you will notice I already stated that.

 

[Green Cross]

Read the first post, you will notice I already stated that.

china's economy is export driven, and I for 1 am not buying any more Chinese junk if I can help it. who has money to blow on more chinese crap?

China is better at manipulating the currency, and they have invested in real stimulus - whereas we just through the money down a rat hole, so Asia may fair better... but this is a global recession/depression

 

[CrackerJax]

Ahhh Okay... I sometimes miss ur details. Like a teacher who grades a consistently performing student, I already know you understand... A compliment!

Unfortunately, again like teachers, I have to read the "D" students post entirely, since they are rife with errors.

 

[doobnVA]

So you think going full bore in the same direction is the answer? lawdy.... you are naive.

That's total debt.... not just Bush. Oh, and wars are expensive. Check your history books.

You're right, it's not just Bush, but he contributed quite a bit to that total. A very large bit, in fact.


What Obama is trying to do now, is cut spending in areas where that spending isn't contributing to economic growth - and spend more money in areas that DO contribute to growth. What Bush did was merely an extension of "reaganomics", giving tax cuts to the wealthy and claiming that would somehow increase federal revenue and cut the deficit in half. Well guess what? It doesn't, and didn't.

SPENDING money on things like job creation initiatives, health care reform, etc are legitimate ways to (in the long run) increase federal revenue.

 

[NoDrama]

You're right, it's not just Bush, but he contributed quite a bit to that total. A very large bit, in fact.


What Obama is trying to do now, is cut spending in areas where that spending isn't contributing to economic growth - and spend more money in areas that DO contribute to growth. What Bush did was merely an extension of "reaganomics", giving tax cuts to the wealthy and claiming that would somehow increase federal revenue and cut the deficit in half. Well guess what? It doesn't, and didn't.

SPENDING money on things like job creation initiatives, health care reform, etc are legitimate ways to (in the long run) increase federal revenue.

If Obama REALLY wanted to cut spending he would start handing out pink slips to Government employees and the ones that didn't get pink slips get pay cuts. Bring the troops back home, that would cut massive spending, Cut FEMA and Homeland Security since they are useless entities anyway.

Why Why Why would you care if FEDERAL revenue is increased doob? Wouldn't you much rather have your personal revenue rise? For the feds to increase THEIR revenue means they must DECREASE YOUR revenue. You see the Government produces nothing, operates at a loss and wastes 70% of everything we give it. Why would you want to increase that behavior? The government does not lead to economic growth, it leads to economic waste.

 

[doobnVA]

If Obama REALLY wanted to cut spending he would start handing out pink slips to Government employees and the ones that didn't get pink slips get pay cuts. Bring the troops back home, that would cut massive spending, Cut FEMA and Homeland Security since they are useless entities anyway.

Why Why Why would you care if FEDERAL revenue is increased doob? Wouldn't you much rather have your personal revenue rise? For the feds to increase THEIR revenue means they must DECREASE YOUR revenue. You see the Government produces nothing, operates at a loss and wastes 70% of everything we give it. Why would you want to increase that behavior? The government does not lead to economic growth, it leads to economic waste.

Increased federal revenue doesn't mean that I, personally, will have less money. You're talking about tax increases, which is totally off topic.

We're literally buried in debt. The only way to reduce the debt is to cut spending in areas that don't contribute to economic growth and encourage growth in areas that do.

I'm with you on the homeland security thing, etc. We spend far too much money there and we should cut back. I'm 100% positive there are some government agencies and "official positions" that are utterly worthless as well. What you're missing is this key fact: Cutting spending alone does nothing to encourage economic growth, it just reduces spending. That, in itself, is not a means to the end most of us are seeking.

 

[CrackerJax]

It's called war. it's expensive. Bush mad terrible fiscal decisions and accelerating the same problem is no solution.

Nothing creates jobs better or faster then the private sector. You say things without any data. i have reams of data which support my position.... where's ur's??????

increase federal revenue? lawdy, u don't understand economics...

To believe in such nonsense manes ur either uneducated in economics or you are anti american.

Obama is educated.

 

[NoDrama]

Increased federal revenue doesn't mean that I, personally, will have less money. You're talking about tax increases, which is totally off topic.

We're literally buried in debt. The only way to reduce the debt is to cut spending in areas that don't contribute to economic growth and encourage growth in areas that do.

I'm with you on the homeland security thing, etc. We spend far too much money there and we should cut back. I'm 100% positive there are some government agencies and "official positions" that are utterly worthless as well. What you're missing is this key fact: Cutting spending alone does nothing to encourage economic growth, it just reduces spending. That, in itself, is not a means to the end most of us are seeking.

Where does the government get its money? They borrow it by selling T bills and bonds right? Those pay interest right? Who pays the interest? Your income taxes do. So in effect for the government to gain money it must take it from you and I. The government cannot make its own money, that would be counterfeiting, only the Fed can make money and they make it for themselves to borrow to us at interest. But if you read the US Constitution it clearly states that Congress will issue the money and regulate its value, nothing in there about giving all that power to a select few people in the private sector.

You are correct, we are buried in Debt. you can see here just how little we have liquidated due to the Fed influx of money propping up all the Dead zombie companies.

Notice the red line, see how its debt never decreased, thats because the government feels it does not have to tighten its belt during times of crisis. It will just borrow that needed money from the future, and we will all continue to pay the interest.

 

[CrackerJax]

he is incapable of logical thought drama.... it's a waste of time.

 

[doobnVA]

he is incapable of logical thought drama.... it's a waste of time.

If I'm such a waste of time, why do you keep seeing the need to respond to my every post?

You must have plenty of time to waste, eh?

 

[CrackerJax]

I dunno.... in some dim hope that you'll actually apply urself and post something other than mud.

 

[doobnVA]

I dunno.... in some dim hope that you'll actually apply urself and post something other than mud.

well, dim IS the brightest you can manage.

 

[CrackerJax]

There's that famous reading comprehension again....