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i doubt it will be paid. but i think that this generations credit is guna get cut off pdq. we will learn to pay for stuff instead of sign for stuff very soon.--- its a french thing.
The Bush tax cuts expire Jan 1, 2011. Are you suggesting tax increases beyond that?
Yes, I think we'll need to see European-style taxes to deal with the fiscal problems facing the U.S. That is probably why Obama wants to put in healthcare now so that at least he can say that you are getting something for your money. There are too many problems that need to be fixed (Medicare, Social Security and the deficit/debt) and they are all expensive.
The Bush tax cuts expire Jan 1, 2011. Are you suggesting tax increases beyond that?
The FY2010 budget proposal includes making those tax cuts permanent for everyone under $200K/$250K. It takes legislation to make it legal, but except for the rather wealthy, those cuts are likely not to expire.
$9,000,000,000,000 in Debt, Which Generation Will Be Paying This
We need to stop 0bama and the democrats from passing any more legislation, they are looting the US Treasury.
Quote:
Reuters - Jeff Mason
WASHINGTON (Reuters) - The Obama administration will raise its 10-year budget deficit projection to approximately $9 trillion from $7.108 trillion in a report next week, a senior administration official told Reuters on Friday.
The higher deficit figure, based on updated economic data, brings the White House budget office into line with outside estimates and gives further fuel to President Barack Obama's opponents, who say his spending plans are too expensive in light of budget shortfalls.
The White House took heat for sticking with its $7.108 trillion forecast earlier this year after the Congressional Budget Office forecast that deficits between 2010 and 2019 would total $9.1 trillion.
This is insanity, it has got to stop. Will you liberals help us, our are you just too partisan?
Many people have been expecting a significant jump in taxes for a long time now. It has been evident for some time that both Social Security and Medicare cannot continue much longer without something drastic being done. I have heard rumblings about this since Bill Clinton was President and I have said for a long time that they longer you wait the more significant those tax increases will need to be.
I think 0bama is hoping for massive inflation, so he can essentially tax the living snot out of us all. He will not even have to raise taxes, inflation will do all that for him. Plus, with massive inflation, $9,000,000,000,000 will not be all that much money any more.
This is insanity, it has got to stop. Will you liberals help us, our are you just too partisan?
You do realize that the bulk of that accumulated debt comes from Republican Presidents? I mean, Obama isn't exactly helping but most of the blame for the debt has to fall elsewhere. Bill Clinton was the closest thing we've seen to a fiscally responsible administration in a very long time. He may not have been able to keep his pants up but he did have his eye on the bottom line.
It'll never be paid back, as long as the current parties are in power. Clinton came closest to balancing the budget, and giving us a surplus to possibly pay back some of our debt.
Bush just threw it into tax cuts, and look where that got us.
The verdicts still out on Obama for me. I see where he is going with some of the debt, but that doesn't make me happy about it. Personally I would have liked to have seen Chrysler and GM go into bankruptcy earlier, oh yeah, that was a W failed policy.
I think 0bama is hoping for massive inflation, so he can essentially tax the living snot out of us all. He will not even have to raise taxes, inflation will do all that for him. Plus, with massive inflation, $9,000,000,000,000 will not be all that much money any more.
Not a matter of hoping, this has been coming on for decades. These interest rates and cost of living figures are so bogus it hurts. At some point inflation is coming and will continue until that $9 Trillion is 10-15% of the money supply.
That isn't a totally bad. I made a lot of money on Carters inflation. You just have to be paying attention, the number of zero's on those bills doesn't matter.
Nobody is going to pay it. It is like a bad cold or a good joint- just keep passing it on!
We are passing it to our grand children.
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