us gov debt crisis

[RayJE Carburetors]

the scariest shit of all.....they are going to/ and are using food as a weapon
http://www.gaia-health.com/articles301/ ... abal.shtml

[Unkl Ian]

Typical political BS...... Make a problem....... Then act like your working to solve it.....

Washington DC needs to be leveled.......

Flatten the hysteria fanning media too.

Chicken Little works for CNN.

[1989TransAm]

I see the markets were not impressed by Obama's speech. Basically it was the same old stuff with nothing new. So the markets continue their downward slide. Last I saw the Dow was down over 500 points. There is legislation available but held up by Harry Reid that will go a long way to solve this. It is called Cut, Cap and Balance. Then again maybe that is Obama plan to bring the United States down a couple of notches. If so he is succeeding.

[dfree383]

"Obama: "US will always be AAA-rated, despite downgrade""

This guy is a total Idiot...... He honestly believe he's right !?!?!?!

[JoePorting]

The problem is really larger then just US debt. Most world governments, corporations and individuals have too much debt. This is just turning into one big huge Ponzi scheme that is going to end in one big train wreck. If you look at many US corporate balance sheets, many are broke (Assets<Liabilities).

[af2]

The problem is that S@P figured out the US is on unemployment and can't pay DOWN the bills.

[enigma57]

In large part, what those in Washington (all Democrats and a good many Republican as well) cannot seem to get through their thick skulls is that you cannot spend your way out of debt.

That is to say...... America really has no debt crisis (no need to raise the debt ceiling and borrow more)...... America has a spending crisis (needs to spend less and live within its means just as you and I and all here must do in our everyday lives).

A firm and fast balanced budget amendment would go a long way towards addressing this issue. One based upon real figures and not a percentage of automatic baseline spending increases each and every year.

Congressional term limits would be a step in the right direction as well. We don't need professional politicians creating power structures aimed at enriching themselves whilst in public office and perpetuating their incumbency. We need citizens who will take serious their role as public servants...... And when done serving, go back home and let someone else have a go at it.

Best regards to all,

Harry

[1989TransAm]

" what those in Washington (all Democrats and a good many Republican as well) cannot seem to get through their thick skulls is that you cannot spend your way out of debt."

I agree. To many games being played in Washington and elsewhere with our tax dollars. What brought this to the fore front for me was the action of some Republicans. I always new who the Democrats were. They are like giving free alcohol to a drunken sailor. It seems the Republican establishment members were only slightly better than the Democrats. This IMHO is what gave rise to the Tea Party who wanted fiscal discipline in Washington and other government agencies. You can see the push back against the Tea Party from the Democrats, their friends in the msm and certain Republicans. How dare you tell us how to spend your tax money. We know how to spend your tax dollars better than you. I just hope enough people in the electorate have awaken to see what is going on.

[Keith Morganstein]

I predict 3-4 months and we will have a colapse.

I find this thread interesting, I have no opinion either way but - say we "collapse" - what happens then? China angrily tries getting their money back from us or ??

The USA won't have anyone to borrow more money from to pay the bills.

A communist Chinese saying: "we will sell you the rope you use to hang yourself"

[Keith Morganstein]

Isn't one of the biggest factors in this debt the trillions spent on wars in Iraq and Afghanistan?
Bin Laden may finally be dead, but he said he would bankrupt the USA.

[1989TransAm]

"Isn't one of the biggest factors in this debt the trillions spent on wars in Iraq and Afghanistan?"

I believe military spending is down to around 4-5% of GDP. Lowest it has been in years.

[Keith Morganstein]

"Isn't one of the biggest factors in this debt the trillions spent on wars in Iraq and Afghanistan?"

I believe military spending is down to around 4-5% of GDP. Lowest it has been in years.

Where has it been over the last ten years?

[RayJE Carburetors]

The Federal reserve gave to the "elite" 2 trillion US dollars 18 months ago which is more than the combined cost of both wars in Iraq and Afghanistan. When questioned by your congress the Chairman of the US Federal Reserve said he could not tell "you" where the 2 trillion dollars went.

Add this to the 2.3 Trillion dollars that were missing from the Pentigon on Sept 10, 2001 a day before 9/11. Donald Rumsfield refused to say where the money went . nothing was heard again in the news again after 9-11... Funny that !!!!

You should watch these videos from Lindsay williams from back in 2009 and look for his 3 DVD'd on youtube

http://www.youtube.com/watch?v=g3IqSRmI ... r_embedded

[1989TransAm]

Here you go Keith.

http://www.google.com/publicdata/explor ... l=en&dl=en

[CamKing]

I predict 3-4 months and we will have a colapse.

I find this thread interesting, I have no opinion either way but - say we "collapse" - what happens then? China angrily tries getting their money back from us or ??

Think Again......

http://globalpublicsquare.blogs.cnn.com ... not-china/

Yep. We owe social security twice as much as we owe China.
This is how the government is cutting Social Security from all of us, without actually cutting it.
Washington knows SS needs to be re-structured, but no one has the political will to touch it, so they just print more money, and borrow from the SS trust.
What this does is reduce the value of each dollar, so your SS payment is being reduced, even though the amount on the check is the same.

The sad part is, retired people vote Democat because they say the Repubs want to cut their Social Security, but the fact is the dems are cutting it with every debt increase.