Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
President Barack Obama's budget would generate unsustainably large deficits averaging almost $1 trillion a year over the next decade, according to new estimates released Friday.
Obama inherited an economy that was in a free fall because of 8 years of neglect under the village idiot and his band of regressives. It will take time to right the enormous wrongs. Make no mistake though, he will succeed. I'm very confident now that we have intelligence in the WH.
Perhaps what we need is the revival of the Whig party or something, a party devoted to professional and business types, with an emphasis on fiscal discipline, and without all of the social trappings. Almost any kind of third party of a decent size would slow things down a little.
It will never work, because there is much more human momentum behind social phenomena than there is behind abstract economics. The economics is just an outgrowth of the social/cultural aspect. If all you can see is the economics then you will spend the rest of your life wondering why John McCain didn't inspire very many people.
what americans do know is that japan tried some of the tricks that obama is pulling 15 years ago and they are still in a recession.....
Hi floridasandy,
Its because individual Japanese will not go into debt. If they did, there would be lots of money, and lots of debt, and more money, and more debt, debt, money, money, debt...... All Obama is doing is trying to save the banking system and its credit currency.
Obama inherited an economy that was in a free fall because of 8 years of neglect under the village idiot and his band of regressives. It will take time to right the enormous wrongs. Make no mistake though, he will succeed. I'm very confident now that we have intelligence in the WH.
This is no time to panic for God's sake.
Hi Alexus,
And Obama put lots of Wall Street insiders who were there. Obama was also a senator, so he was there. Did Obama try to head this off in 2006 etc. No he didn't.
um, yea... but it's still not fair to blame just Obama. This mess has been in the works for a long time and through several administrations. Too bad we have an illogical aversion to voting third party.
Meet the new boss- same as the old boss
Americans complain but they overwhelmingly re-elect the same people over and over. Look at the seniority of the senate and house.
If a viable real change agent like Ron Paul starts talking honestly, you immediately tin foil him and move on.
Obama will destroy what little is left of our economy. Obama has sucked off the public trough his entire life. He is conditioned to believe money just appears from DC, no work required.
As others have alluded to, the Bush/Paulson/Frank/Dodd/Pelosi gang, acting at the behest of their bankster paymasters, collectively an incestuous bunch, appointed pliable Obama to let them finish the gang-rape job that Bush et al started.
Maybe after they finish pillaging the wealth amassed over the past 50 years or so, "they" will once again take up the challenge of developing an industrial economy on US soil, but, either way, it is easier to rule-by-command a bunch of indebted idiots with no historical memory (slaves) than a vibrant middle class, just ask Fidel.
The existential problem of many people on this forum is the burden of being aware but socially powerless to do anything about it.
Not to worry: this is not the first time in history this has happened and there are the usual array of remedies for the individual, take your pick.
"Obama inherited an economy that was in a free fall because of 8 years of neglect under the village idio."
No, Obama inherited a mess that was caused by other Democrats, starting with the Community Reinvestment Act back in 1977, under Carter. Democrats Barney Frank and Chris Dodd were a couple of the democrat latest players. To his credit (and I don't give him much credit) Bush tried to stop the trainwreck several (16?) times but was shot down by the democrats.
Obama was a player, too: he's the presidential candidate who was the number-two recipient of campaign contributions from Fannie Mae (a quasi gov't entity that should have never been allowed to even make contributions). And we have Obama's ties to Franklin Raines, the CEO of Fannie Mae who made $90 million while totally screwing up and cooking the books.
But I don't blame you for not knowing any of this - you sure wouldn't have learned it from your mainstream media.
And yes, it's getting very close to the time to panic - for now, try to figure out a way to protect your assets and plan for the worst.
With this system there is little else to be done. All our money is debt. Which debt do you want?
Consumer debt? Thats the road we have been on to doom.
Business debt? Sure, but banks are not loaning to them and who knows whether they can grow the money supply at a rate we had grown consumer debt and grow equity.
Whats left? Government debt. Fast forward to Japan with a 180 debt to GDP ratio. Japanese citizens don't want to go into debt so....
We could pay off the nation debt tomorrow if we wanted to. I can't think of anything more simple than to pay off the nation debt.
I wish more than 5% of the people in the "Politics and Other Controversies" sub-forum understood this. I am not an economic expert by any means, but it seems like common sense.
If we stick with the current system, government debt is not a killer. In a perfect world, there would be monetary reform. However, in our real world, Obama/Congress building up the national debt right now is not "destroying our nation". There is a reason behind the "madness" (keeping the debt system afloat to "save us") and this current debt can always be "paid down" at a later point (with budget cuts/increased taxes) when deemed a good time to do so and when economic times are better.
But like I said, I am not an expert or even a novice on these things. It just seems like common sense ...
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
