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Post by heckheckle on Sept 1, 2009 12:05:49 GMT -5
The American Economy is on the edge of Total Collapse. Talk about "Smoke and Mirrors", there is no way Washington D.C. can cover this up. There is no way to ever repay the National Debt. The Government of The United States now predicts a Budget Deficit for this year, of $9,000,000,000,000,.00. That's 9 trillion dollars. There are about three hundred million people in America. Sorry Washington. I can't pay my share. I sure wish it was only me
that can't pay the share.
This mess also includes money the Government has borrowed from itself. OOPS!!! That brings the deficit up to Eleven Trillion Dollars. Correction. Up to 11.7 trillion dollars. Humph, hardly worth adding a measly 700 billion dollars.
Check with me. I'll give you the real info. Get it? They can't carry any more Balance on the
Federal Government "Credit Card" And they aren't even paying the minimum payment.
No COLA for Social Security this year, and next. Then when "They" change the Law to allow
"Them" to take a "Little" money away, how long do you suppose it will be before "They" take it all? Start guessing how long before we go the way of Venezuela?
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Post by heckheckle on Sept 1, 2009 12:08:01 GMT -5
Sorry for the wrong thread, but I guess you see what I mean.
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Post by capttankona on Sept 1, 2009 14:27:53 GMT -5
The American Economy is on the edge of Total Collapse. Talk about "Smoke and Mirrors", there is no way Washington D.C. can cover this up. There is no way to ever repay the National Debt. The Government of The United States now predicts a Budget Deficit for this year, of $9,000,000,000,000,.00. That's 9 trillion dollars. There are about three hundred million people in America. Sorry Washington. I can't pay my share. I sure wish it was only me that can't pay the share. This mess also includes money the Government has borrowed from itself. OOPS!!! That brings the deficit up to Eleven Trillion Dollars. Correction. Up to 11.7 trillion dollars. Humph, hardly worth adding a measly 700 billion dollars. Check with me. I'll give you the real info. Get it? They can't carry any more Balance on the Federal Government "Credit Card" And they aren't even paying the minimum payment. No COLA for Social Security this year, and next. Then when "They" change the Law to allow "Them" to take a "Little" money away, how long do you suppose it will be before "They" take it all? Start guessing how long before we go the way of Venezuela? Actually, that is the ten year deficit projection for this administration. The current deficit is predicted to be $1.8 trillion, about four ( edited to change to) five times the deficit under President Bush at the end of his term. I will see if I can find what GW's deficit was on Sept 1, 2001. Just ten days prior to the worst attack on the Main Land United States in the History of this nation. |
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Post by capttankona on Sept 1, 2009 14:39:17 GMT -5
So far I have not found it, but look at this sweet little Gem that proves much of what I have been saying about entitlement spending began under Franklin Delano Roosevelt. Looking at it I have to ask, is it more immoral to not give or to spend ourselves into a place where no one will survive?  |
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Post by capttankona on Sept 1, 2009 14:42:20 GMT -5
Oh, and this one on Medicare and Social Security.  |
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Post by capttankona on Sept 1, 2009 14:50:13 GMT -5
And, here it is. Notice how the deficits begin to climb, along with our debt, at the same point that the Democrats regained control of the House of Representatives, exactly one year after they passed all their spending bills. Of course, now Obama's deficit, on his 2009 budget that was vetoed by Bush and was operating on a continuing resolution, is more then $600 billion higher then this chart goes.  |
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Post by Mink on Sept 1, 2009 21:51:40 GMT -5
Gee and with this ever-increasing budget....we better not start another war in the next 20-30 years from now (hint)
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Post by subdjoe on Sept 1, 2009 22:03:11 GMT -5
Gee and with this ever-increasing budget....we better not start another war in the next 20-30 years from now (hint) Yeah, just let the thugs bomb the crap out of us and not do anything. Oh, wait. We will apolgize. |
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Post by Mink on Sept 1, 2009 22:05:51 GMT -5
Gee and with this ever-increasing budget....we better not start another war in the next 20-30 years from now (hint) Yeah, just let the thugs bomb the crap out of us and not do anything. Oh, wait. We will apolgize. Oh wait, let's just go after the ones who attacked on on 9/11! It's about time we get our resolve, don't you agree? |
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Post by Mink on Sept 1, 2009 22:55:25 GMT -5
Yeah, just let the thugs bomb the crap out of us and not do anything. Oh, wait. We will apolgize. Just offer them a cup of sweat tea and kiss their rear. That will passify them! They have more than enough sweat, given the climate. Maybe we should take our greed and go home. This is what is is really about.....oil |
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Post by The Big Dog on Sept 1, 2009 22:57:28 GMT -5
Actually the federal budget for FY2001 was signed into law by Bill Clinton in 2000 and promulgated under his watch.
The federal fiscal year runs from October 1 to September 30 and an outgoing president always leave his final budget year for his successor. In the case of Bush when he left office on January 20 the projected structural deficit for this fiscal year ending 29 days from today was ~$680 billion and that was actually well below what the original projection was according to the sources I read, including the government's budget site.
Since Barack and the current Congress have been voting all kinds of new spending above the approved budget, and authorizing SecTreas to borrow it all, the structural deficit is for this FY is something north of $1.8 trillion and is still growing. As noted above, the projected ten year deficit (and those projections assume full revenue in to the government) is running upwards of $10 trillion.
Fold into that the already in place and wholly unfunded mandates of current entitlement programs such as Social Security and Medicare, and the downstream spending ballons to, by some estimates, $60 trillion.
The problem with those assumptions (and California's "leaders" have built their "budget deal" on the same rosy revenue projections) is that if the economy remains soft and tax revenues continue to drop, the deficit will only become larger and the debt service to sustain it will grow accordingly.
There is not an infinite pool of wealth for government to continue to tap. That leaves the only possible solution for the government is to monetize the debt by printing more paper money and trying to pay off or buy up as much of the outstanding debt as it can which has the effect of devaluing and weakening the currency all that much more. At some point it becomes unsustainable and the economy will free fall. What is worrisome is that given the continuing government policies of the past two - three years and what we see on the road ahead, we may have already reached that tipping point and there may be nothing that any of us, in the government or outside of it, can do to stop it.
This is Econ 101 stuff. Anyone who actually paid attention in that class and who isn't blinded by partisan politics should get this. There are any number of historic examples of exactly this phenomenon, with the Wiemar Republic in Germany between the world wars coming most immediately to mind. The solution in these types of economic situations is not for government to expand itself. Government produces nothing of value, it only takes value from the economy with which to sustain and grow itself, redistributing but a small portion back into the economy in the form of public works and discretionary spending.
This is the change you progressives voted for. Marxist economic theory, overseen by an omnipresent and omnipotent government appartus, was proven an unsustainable failure by the former Soviet Union. But that is what you progressives and the man you voted for are bringing to the table.
I hope to God I do not live see bread lines in this country, but they are coming. It is okay, however, because Obamacare will make sure that the weakest among us will not be around to compete for precious resources.
You deserve the disaster that lies on the road ahead.
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Post by Mink on Sept 1, 2009 23:12:58 GMT -5
Big Dog, with your explanation, it is like Bush "W" was never president.........
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