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We bring in about $245 billion a month in tax revenue, and we service the national debt for about $23 billion a month, that leaves over $200 billion each month to run the country.
If 0bama claims to not be able to pay SS, Medicare and pensions for retired US government employees, then it means he spent it all. But as i already pointed out, we bring in enough tax revenue to pay SS and the pensions, and 0bama would be choosing not to pay it, and instead he would continue to fund his agenda.
This president is a real POS, to even suggest that he will default on Medicare and Social Security payments.
0bama is the gum on the shoe of America, it's messy, disgusting, is hard to scrape off, and it's something that just should not be there in the first place.
Closer to 33.3 Billion for average monthly debt expenses.
Would you ask someone at the table next to you in a restaurant to pay for your dinner just because they had more wealth?
Only after I got to know them a little bit better
Seriously, if we don't want to tax the very rich
more than anyone else, let's just cut out our excessive military spending, of which the very rich benefit so greatly. After all, military spending today has become quite discretionary. Cut that gravy train FIRST.
Obama lied intentionally about SS checks
or
Obama has no clue and is not conversant in economic matters.
"By Mark Trumbull, Staff writer / April 8, 2011 A true shutdown of the federal government could be a worrying moment for seniors, who would face the prospect of a sudden disapearance of Social Security income and Medicare coverage. Thankfully, that's not what would occur, even if a budget deadlock causes a so-called "government shutdown" to begin at midnight on April 8. Politicians, after all, know that retirees are counting on Social Security and Medicare. And, oh yes, they vote"
The American people don't want his Socialist Security or his Socialist Medicare or his Socialist Medicaid so they can just get used to living without it.
A few months without will change some minds.
More than one month would bring old people to the polling places in record numbers and not one of them would vote for Obama. Walk, carry, crawl, roll whatever method they had to use they would certainly use and he knows that. If he is as smart as you lefties say he is he will back down first if allowed to do it.
Ah yes one of the kick the can down the road crew. Sorry if I don't take your predictions to heart as your background in finance means nothing to me. I have a bank account and some stocks and savings so I do too. I'll await your prediction on global damage with baited breath.
And this is why the founder's did not want a government run by the masses.
You reap what you sow.
Just wait until CAPM and WACC calculations for companies go through the roof, and watch those stock prices by either the ROPI, RIM, or DCF model show what happens when those values go up.
Throw in the changes to NPV and Black-Scholes based real project option analysis and watch large companies cancel projects as they will no longer turn a profit and growth slows or reverses.
You can go look up all those terms yourself and learn how the risk free rate (e.g., US Treasuriies) have a HUGE impact on global finance.
EDIT: Now I highly doubt the US would not pay its debt obligations so I would guess spending in other fields would stop, which would cause deflationary pressures. However, just the thought of US not having a steady cash flow and is constrained by the debt ceiling may cause minor downgrades in debt quality. While this would not destroy the world economy with a US default, it would cause a large correction in the stock market over time as interests rates would go up a percent or two.
Obama lied intentionally about SS checks
or
Obama has no clue and is not conversant in economic matters.
"By Mark Trumbull, Staff writer / April 8, 2011 A true shutdown of the federal government could be a worrying moment for seniors, who would face the prospect of a sudden disapearance of Social Security income and Medicare coverage. Thankfully, that's not what would occur, even if a budget deadlock causes a so-called "government shutdown" to begin at midnight on April 8. Politicians, after all, know that retirees are counting on Social Security and Medicare. And, oh yes, they vote"
Government Shutdown is not the same as not being able to borrow anymore money (e.g. Debt Ceiling Increase).
More than one month would bring old people to the polling places in record numbers and not one of them would vote for Obama. Walk, carry, crawl, roll whatever method they had to use they would certainly use and he knows that. If he is as smart as you lefties say he is he will back down first if allowed to do it.
Wouldn't vote for anyone in Congress either. So you get a Republican in the Presidency but Democrats possibly get Congress? Taking a large bet here on who gets hurt more by this...
More than one month would bring old people to the polling places in record numbers and not one of them would vote for Obama. Walk, carry, crawl, roll whatever method they had to use they would certainly use and he knows that. If he is as smart as you lefties say he is he will back down first if allowed to do it.
It'll be the Boehner Shutdown just like the last one was the Gingrich Shutdown......Boehner will have a Legacy, just like Newt
It'll be the Boehner Shutdown just like the last one was the Gingrich Shutdown......Boehner will have a Legacy, just like Newt
Americans are a lot dumber nowadays. They believe the president is much more powerful than he actually is. Therefore, Obama will receive the blame.
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Obama lied or is not conversant in economics?
