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  #226 (permalink)  
Old 07-15-2009
City Mayor

 
Member Since: Jul 2009
Location: southwest
Posts: 219

   
Re: Holy Hell...470,000 job loss in June, national 9.5%

March 16, 2009

The Obama Budget: Spending, Taxes, and Doubling the National Debt
by Brian M. Riedl

Backgrounder #2249

During his presidential campaign, President Barack Obama promised the American people a "net spending cut."1 Instead, he signed a "stimulus" bill that spends $800 billion, and he has proposed a budget that would:

Increase spending by $1 trillion over the next decade;

Include an additional $250 billion placeholder for another financial bailout;

Likely lead to a 12 percent increase in discretion*ary spending;

Permanently expand the federal government by nearly 3 percent of gross domestic product (GDP) over pre-recession levels;

Raise taxes on all Americans by $1.4 trillion over the next decade;

Raise taxes for 3.2 million taxpayers by an average of $300,000 over the next decade;

Call for a pay-as-you-go (PAYGO) law despite offering a budget that would violate it by $3.4 trillion;

Assume a rosy economic scenario that few econo*mists anticipate;

Leave permanent deficits averaging $600 billion even after the economy recovers; and

Double the publicly held national debt to over $15 trillion ($12.5 trillion after inflation).2




The Obama Budget: Spending, Taxes, and Doubling the National Debt
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  #227 (permalink)  
Old 07-16-2009
Doctor Who's Avatar
Joint Chiefs of Staff Member
Action Figure

 
Member Since: Jan 2007
Location: Charlotte
Posts: 1,193

United_States     North_Carolina

Re: Holy Hell...470,000 job loss in June, national 9.5%

Quote:
Originally Posted by htperr6565 View Post
Ummm, things were getting better as clinton left office. (economically)
can that be said of bush?

Talk about stupid logic.
That's not really true htperr. The recession we had that Bush inherited started in March of 2000. Things were getting worse when Clinton left office due to the dot com bubble. I'm not saying it was Clinton's fault, just as the current situation can't be layed soley at the feet of Bush.
__________________
"If you think about it, UPS and FedEx are doing just fine," he said. "It's the post office that's always having problems." Barack Obama on government run healthcare. 08/11/2009

American by birth.
Conservative by the grace of God.

Still sore about the war of northern aggression.
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  #228 (permalink)  
Old 07-19-2009
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City Council Member

 
Member Since: Jul 2009
Location: USA
Posts: 155

   
Re: Holy Hell...470,000 job loss in June, national 9.5%

Quote:
Originally Posted by smurf View Post
Highly comical. How can the U.S. ever go bankrupt when they hold the key to the printing press? Think about it, the U.S. Government owes its debt in dollars. They will print as many as they need to pay off their debt.


*Americans forget that printed money can be used by foreign holders to buy US businesses, property, and even mines. So they don't care if we print up a trillion a day! As long as they can continue to exchange them for US property...and cheap foreclosed property is a real bonus for them.

They are currently having foreign foreclosure tours. Chinese, Japanese, and Indians are coming over and buying our foreclosed properties IN BULK, for pennies on the dollar.

So while we are paying off our debt, they are using the money to buy up all our means to support ourselves.(farms, factories, mines, and real estate.)


If a guy has piece of property you really want, and he gives you millions in cold checks, do you really care...IF he accepts those cold checks toward the purchase of his property?










On the other hand, if Obama doesn't fuck it up (and since he's just a puppet for the truly powerful, he won't be allowed to), that Iraqi oil will be doing this country good for decades to come.


* Democracy is over...the rich minority purchase and own ALL the majorities choices before the election ever takes place.



So quit bitching for a minute, get your head out of the Dem vs Rep smokescreen that you've fallen for hook, line, and sinker, and understand that Saddam was a brightly wrapped gift to the U.S.. Without him, we never would have had cause to go into Iraq and secure our, er their, oil.

Being as we will soon not have jobs, or be able to afford cars..the demand for oil is getting ready to drop WAY down.
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