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The idea that The U.S. is broke is beyond ridiculous. What it also shows is a complete lack of knowledge of macro economics.
The U.S. economy is fragile right now but it is still growing. The only real way to reduce deficits is with economic growth that generates more revenues. Scaling back the budget "seems" to make sense but doesn't, as it leads to contraction, which results in fewer revenues. Thus, you neither make your budget target, reduce the deficit nor grow the economy.
We are broke! We are almost $17 trillion dollars in debt! Most of it which is high interest loans!
If we had to pay out all the promised payments for Social Security and Medicare to square up the system, our debt would rise to $120+ trillion!!
What are we going to do when we simply can't borrow any more?
Left wing media? Romney outspent Obama in advertising. Fox has twice the viewership of MSNBC plus conservative talk dominates radio -- but I guess you need an excuse for being totally rejected by the voters.
The sequester happened because the GOP made a big deal about the debt ceiling,even though they raised for Bush 7 times. The republicans threaten to cause a global depression with a bond debt ceiling default,so Obama chose to save the world.
blaming obama for this is like blaming a parent for paying a ransome note t get their child back. Republicans were going to destroy the world
We are broke! We are almost $17 trillion dollars in debt! Most of it which is high interest loans!
If we had to pay out all the promised payments for Social Security and Medicare to square up the system, our debt would rise to $120+ trillion!!
What are we going to do when we simply can't borrow any more?
You do realize that debt is a part of the economy, Apple has debt Microsoft has debt every american
with a car or house note has debt. All the people who work in housing and the auto industry would not have a jobs if it were not for debt.
The dollar amount of debt does not matter 16 trillion dollars is nothing because the U.S produces 45 Trillion dollars worth of economic activity a yr so an overalll debt of 16 trillion is not really a big deal.
the dollar amount does not matter its the debt relative to gdp
You do realize that debt is a part of the economy, Apple has debt Microsoft has debt every american
with a car or house note has debt. All the people who work in housing and the auto industry would not have a jobs if it were not for debt.
The dollar amount of debt does not matter 16 trillion dollars is nothing because the U.S produces 45 Trillion dollars worth of economic activity a yr so an overalll debt of 16 trillion is not really a big deal.
the dollar amount does not matter its the debt relative to gdp
"every American...has debt" ?
I'm an American. I have a car (in fact, that's plural), and house (also plural). I have no debt. Debt is not a good thing, and especially when it's the result of more being spent than coming in. We really can't sugar coat it by saying "everybody does it'.
If you think debt is OK, then you're in the minority, because recent polls show that 75% or so of the population believe the government is spending too much.
This chart published by the Federal Reserve Bank of St. Louis shows United States' tax revenues and spending. Expenditures by the government have far outpaced tax revenues resulting in annual deficits which increase the national debt.
So why not own it? Obama can't both be a big spender and cutter at the same time..
Yes he can. He's a big spender on HIS priorities -- and he's more than willing to cut in areas such as the military.
With the sequester, he's caught in a vise. The WH thought it was a politically savvy move, but it has backfired.
Obama doesn't want to own it because they are indiscriminate across the board cuts. He said he would veto the bill if it came to him. He didn't veto. He didn't let it go without his signature.
HE SIGNED IT!
He proved he talks out of both sides of his mouth. He was against the sequester before he was for it, and has now evolved to being against it again.
Yes he can. He's a big spender on HIS priorities -- and he's more than willing to cut in areas such as the military.
With the sequester, he's caught in a vise. The WH thought it was a politically savvy move, but it has backfired.
Obama doesn't want to own it because they are indiscriminate across the board cuts. He said he would veto the bill if it came to him. He didn't veto. He didn't let it go without his signature.
HE SIGNED IT!
He proved he talks out of both sides of his mouth. He was against the sequester before he was for it, and has now evolved to being against it again.
Oh please! The Repubs will lose this argument too. They are just showing a "good face" for their followers, all the while they know they are holding the wrong side of the issue.
Yes he can. He's a big spender on HIS priorities -- and he's more than willing to cut in areas such as the military.
With the sequester, he's caught in a vise. The WH thought it was a politically savvy move, but it has backfired.
Obama doesn't want to own it because they are indiscriminate across the board cuts. He said he would veto the bill if it came to him. He didn't veto. He didn't let it go without his signature.
HE SIGNED IT!
He proved he talks out of both sides of his mouth. He was against the sequester before he was for it, and has now evolved to being against it again.
Exactly!
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