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US Approaching Insolvency, Fix To Be 'Painful': Fisher (http://www.cnbc.com/id/42209447 - broken link)
"If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt.
"The short-term negotiations are very important, I look at this as a tipping point."
But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.
"I think we are at the beginning of the process and it's going to be very painful," he added.
At some ALL will have to realize that we need to fix our problems - both in government and with personal finances.
This is a total system failure of America - right, left, rich, poor, black, white, educated, uneducated, private, public.
Stop suppressing the truth. Stop being a cheerleader for political personalities. We are broke publicly. Many are broke privately. It's frustrating - we can beat this, but we have to do it together, which is a problem for many.
Another brilliant analytical point from the Fed - 'Fed's Fisher: U.S. debt situation at tipping point'
Well, no s__t!!!!!!!!!!!!!
"FRANKFURT (Reuters) - The U.S. debt situation is at a "tipping point," Dallas Federal Reserve Bank President Richard Fisher said on Tuesday, and urged the U.S. central bank to refrain from any further stimulus measures.
"If we continue down on the path on which the fiscal authorities put us, we will become insolvent. The question is when," Fisher said in a speech at the University of Frankfurt."
Fed's Fisher: U.S. debt situation at tipping point - Yahoo! Finance (http://finance.yahoo.com/news/Feds-Fisher-US-debt-situation-rb-2041699246.html?x=0&sec=topStories&pos=main&asset= &ccode - broken link)=
US Approaching Insolvency, Fix To Be 'Painful': Fisher (http://www.cnbc.com/id/42209447 - broken link)
"If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt.
"The short-term negotiations are very important, I look at this as a tipping point."
But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.
"I think we are at the beginning of the process and it's going to be very painful," he added.
At some ALL will have to realize that we need to fix our problems - both in government and with personal finances.
This is a total system failure of America - right, left, rich, poor, black, white, educated, uneducated, private, public.
Stop suppressing the truth. Stop being a cheerleader for political personalities. We are broke publicly. Many are broke privately. It's frustrating - we can beat this, but we have to do it together, which is a problem for many.
When you cannot pay your bills you are broke. The United States can still pay its bills. That doesn't mean that some serious changes in fiscal policy are definitely needed. But people need to stop with the Chicken Little "The Sky Is Falling" hyperbole. In terms of government deficits there have been times in history where debt has been higher as a percantage of GDP.
"We will become insolvent" Dallas Fed President Richard Fisher - yeah, BECAUSE OF THE FED!
END THE FED!!!!!!!!!!!!
"The United States is on a fiscal path towards insolvency and policymakers are at a "tipping point," a Federal Reserve official said on Tuesday.
"If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt."
US Approaching Insolvency, Fix To Be 'Painful': Fisher (http://www.cnbc.com/id/42209447 - broken link)
"If we continue down on the path on which the fiscal authorities put us, we will become insolvent, the question is when," Dallas Federal Reserve Bank President Richard Fisher said in a question and answer session after delivering a speech at the University of Frankfurt.
"The short-term negotiations are very important, I look at this as a tipping point."
But he added he was confident in the Americans' ability to take the right decisions and said the country would avoid insolvency.
"I think we are at the beginning of the process and it's going to be very painful," he added.
At some ALL will have to realize that we need to fix our problems - both in government and with personal finances.
This is a total system failure of America - right, left, rich, poor, black, white, educated, uneducated, private, public.
Stop suppressing the truth. Stop being a cheerleader for political personalities. We are broke publicly. Many are broke privately. It's frustrating - we can beat this, but we have to do it together, which is a problem for many.
REAL wealth comes from the posession and control of resources. The monetary system is the ultimate shell game; if (more like when) the dollar collapses the US will still have massive resources and world control; the holders of all that debt will loose and a new currency will be imposed.
OK - blame Bush without making the statement. Obama kept the tax rates in place with a Democratic Congress. So according to what you believe about tax cuts - Obama is on the hook - with an extra 2% from Social Security.
However, this is not about tax cuts - this is about spending discipline.
Stop the cheerleading - look at the facts. There's income and outgo. This is an outgo problem. Congress/Executive branch needs to change how it spends its money.
OK - blame Bush without making the statement. Obama kept the tax rates in place with a Democratic Congress. So according to what you believe about tax cuts - Obama is on the hook - with an extra 2% from Social Security.
However, this is not about tax cuts - this is about spending discipline.
Stop the cheerleading - look at the facts. There's income and outgo. This is an outgo problem. Congress/Executive branch needs to change how it spends its money.
Why do you think that the fiscal problems we face started only after President Obama took office? Heck, it goes a LOT farther than even Bush, but the if $1.6T in tax cut was a grand idea over $1.6T in spending (on just wars), how about doing both and then some?
If you think spending is the only problem, you're only looking one half of the problem. If deficit and debt were a concern then, why not go with spending freeze then and use the surplus to pay off debt? When was that a part of the plan?
When you cannot pay your bills you are broke. The United States can still pay its bills. That doesn't mean that some serious changes in fiscal policy are definitely needed. But people need to stop with the Chicken Little "The Sky Is Falling" hyperbole. In terms of government deficits there have been times in history where debt has been higher as a percantage of GDP.
And at that time were 19.9% of American's unemployed or under-employed (1 of every 5 Americans)? Were we fighting 3 elective wars? Did we have a democrat POTUS and Congress hell spent of spending more and more on entitlement programs? Were we facing record home foreclosures? Did we still have a significant manufacturing base in on our shores through which to aid in recovery?
The people you refer to as claiming "chicken little hyperbole" would be The FED. Of course it behooves the liberals if no one pays attention to their destruction of the economy. No suprise, pay no attention to the man behind the curtain.
It is time to smash the printing presses for the Federal Reserve Notes and END THE FED!
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Another brilliant analytical point from the Fed - 'Fed's Fisher: U.S. debt situation at tipping point'
