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3.8 TRILLION dollar FEDERAL Budget

Discussion in 'Off Topic Threads' started by Bisi, Feb 1, 2010.

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  1. Bisi

    Bisi TS Member

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    The news media is reporting that Obama rolled out his budget for the upcoming year to be 3.8 TRILLION DOLLARS. That is only the Federal Budget. State and Local are not included.

    Let's do the math. And will somebody please check it because I'm not used to dealing with numbers this size. I could be wrong.

    Federal Budget - 3.8 TRILLION DOLLARS

    Population of US - roughly 300 million

    Budget expenditure per capita - $12,666 per person? Could that be right??? A family of 4 comes out to $50,666. And this is just FEDERAL, does not include what the state and local spend.

    Expenditure per employed person - I went to the "Bureau of Labor Static’s" for December 2009 and if I read the chart right - there were 137.792 million people employed in the US in December. That 3.8 TRILLION dollar budget comes out to $25,577 per employed person. Am I right? Somebody else do the math.

    WOW!!!
     
  2. highflyer

    highflyer TS Member

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    We are sooooo screwed as a nation. To think that 50 percent of Americans still support this moron according to today's Gallup poll. I still don't know if he is really this stupid or if he is intentionally destroying this country.
     
  3. ks5shooter

    ks5shooter Member

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    Keep loading ammo you are gonna need it!!!!!!!!!!!
     
  4. BrowningPotato

    BrowningPotato TS Member

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    Keep loading ammo you are gonna need it!!!!!!!!!!!

    LOL hopefully not all #8 shot
     
  5. fxstation

    fxstation TS Member

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    Bisi - your numbers are close enough. In addition, you should consider this...139 million tax returns file tax returns annually. 50 million of those filers pay no taxes what-so-ever. Of the remaining 89 million who actually pay taxes - 50% of those pay 97% of the taxes. So here is the scary part - our country is $12.3 going to $14.6 Trillion in debt and if those same 50% keep paying the freight - that means 44.5 million tax payers owe $2,800,000 each. Are you having fun yet?

    Don
     
  6. halfmile

    halfmile Well-Known Member

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    The country should have known better, Since the days of Woodrow Wilson there have been more TRAITORS than decent people at the wheel.

    The electorate is in a daze from WWF, NASCAR, NFL, and a host of other diversions.

    Bread and circuses.

    A glimmer (and that's all) of hope is the recent awakening of a large sector of the population.

    The Liberal Progressives are so in your face, they shout long enough and people believe them.

    There will be a different kind of shouting soon.

    HM
     
  7. Jerbear

    Jerbear TS Member

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    <a href="http://photobucket.com" target="_blank">[​IMG]</a>

    <a href="http://photobucket.com" target="_blank">[​IMG]</a>


    Jerbear
     
  8. H82MIS

    H82MIS TS Member

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    3,800,000,000,000 is that right?????
     
  9. bocephus

    bocephus Member

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    Highflyer there is no doubt, they are purposely going to destroy this once great country while the masses sit idly by and let it happen. A few of us are doing what we can to stop it but I doubt there is any chance.

    Obama knows if he can pull this off- burdening us with a debt so huge we could never pay it back- we will collapse.

    Well folks the end is now in sight, go back to sleep......
     
  10. slipping into darkness

    slipping into darkness TS Member

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    Highflyer he's both, and as another poster always say "Flame um all?" I just wish the other new media would toast all the incompetent one's in D.C. an I guarantee that if it was any of the following U.S. Prez" bush 1 or 2, clinton, johnson, Regan, nixon, kennedy, and any of our previous Presidents where running the Country like this Nut, they would be on them 7/24??? but listen you can here a pin drop!!!!what a "gutless" bunch the Major Network's have turn into...."slid"
     
  11. highflyer

    highflyer TS Member

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    Flincher, obama quadrupled Bush's debt in 1 year. Hard to believe there are American's that still support the idiot isn't it. Does he think he can spend our way to prosperity, or is he really trying to destroy us and transform us into a society without freedom with each one of us dependent on the government for our livelihood.
     
  12. dverna

    dverna Active Member

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    The debt is addressed by inflation and devaluation of our dollar.

    If you have most of your assets in cash making less than 1% - rethink your position.

    Things will likely get a lot worse.

    I like the advice - "keep loading ammo" It is also an asset that can be easily converted.

    Don Verna
     
  13. highflyer

    highflyer TS Member

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    I haven't seen things this bad in my working life. Not just the private sector either, local and state government workers are being dropped like never before too. I think Obama just might pull it off. I have been hearing on the radio that communists try to destroy the middle class first.
     
  14. Setterman

    Setterman Well-Known Member

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    Bush's last deficit was $400 bilion. Obama's deficit is $1.6 trillion.
     
  15. Paladin

    Paladin Well-Known Member

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    flincher wrote; "Lets give a lot of credit to the guy that approved listening in to our phone conversations illegally---a direct violation of our civil rights."

    You don't know much flincher. Your hero hussein, is doing and defending that very same thing. Ask him why, pal...

    Mash on the link. "In Warrantless Wiretapping Case, Obama DOJ's New Arguments Are Worse Than Bush's".


    You have cried about this seventeen times now,,ask hussein. Got it?


    And if you want to know who "screwed" it up, the answer is your people.. In particular, Barney Frank, who's 'friend' worked for FM and benefited greatly.





    Bush had repeated concerns of predatory lending practices and deregulation.

    "According to an article by Kathleen Day in the Oct. 8, 2003, Washington Post, Frank opposed giving the Bush administration the right to approve or disapprove business activities that “could pose risk to the taxpayers.” He told the Post he worried the Treasury Department “would sacrifice activities that are good for consumers in the name of lowering the companies’ market risks.”

    Just a month before, Frank had aggressively thwarted reform efforts by the Bush administration. He told The New York Times on Sept. 11, 2003, Fannie Mae and Freddie Mac’s problems were “exaggerated,” a gross miscalculation some five years later with costs estimated to be in the hundreds of billions."
     
  16. Paladin

    Paladin Well-Known Member

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    Stick this in your pipe, flincher. And this was spoken before the latest federal budget. Let's hear you defend this sorry cuss,,flincher, go ahead...

    The great financial crisis was cause by 'I feel your pain' liberals, that allowed lending institutions to make sub-prime and predatory mortgages, and mandated that certain lenders give mortgages to people with no means to repay. Liberals,,liberals. Blame them for the financial crisis.

    Now, here is exactly where the no-account socialist washed up community organizer is dragging us. Down a rat hole....

    "Just the facts on the Fiscal Year End: The 2009 fiscal year for the federal government ended 2 days ago. The deficit through the first 11 months was $1.4 trillion, 43 cents of every dollar spent was borrowed, and the national debt is now $11.77 trillion which is a 35% increase since Democrats took control of Congress in 2006. More debt has been accumulated in those 33 months than in the entire period of the nation's history from 1789 to 1989. You can draw your own conclusions, they are pretty obvious. This is unsustainable." John Campbell, Congressman - California

    The Congressional Budget Office projects that the nation's dept held by investors both at home and abroad will increase by $9.1 trillion over the next decade, pushing the total deficit to $17.1 trillion under Obama's spending plans.
     
  17. bigdogtx

    bigdogtx Well-Known Member

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    Here you go flinchy,,,,


    By Dick Morris

    "President Obama is being disingenuous when he says that the budget deficit he faced "when I walked in the door" of the White House was $1.3 trillion. He went on to say that he only increased it to $1.4 trillion in 2009 and was raising it to $1.6 trillion in 2010.

    Congressman Joe Wilson might have said "you lie," but we'll settle for "you distort."

    (As Mark Twain once said, there are three kinds of lies: "lies, damn lies, and statistics.")

    Here are the facts:

    In 2008, Bush ran a deficit of $485 billion. By the time the fiscal year started on October 1, 2008, it had gone up by another $100 billion due to increased recession-related spending and depressed revenues. So it was about $600 billion at the start of the fiscal crisis. That was the real Bush deficit.

    But when the fiscal crisis hit, Bush had to pass TARP in the final months of his presidency which cost $700 billion. Under the federal budget rules, a loan and a grant are treated the same. So the $700 billion pushed the deficit -- officially -- up to $1.3 trillion. But not really. The $700 billion was a short term loan. $500 billion of it has already been repaid.


    So what was the real deficit Obama inherited? The $600 billion deficit Bush was running plus the $200 billion of TARP money that probably won't be repaid (mainly AIG and Fannie Mae and Freddie Mac). That totals $800 billion. That was the real deficit Obama inherited.

    Then...he added $300 billion in his stimulus package, bringing the deficit to $1.1 trillion. This $300 billion was, of course, totally qualitatively different from the TARP money in that it was spending not lending. It would never be paid back. Once it was out the door, it was gone. Other spending and falling revenues due to the recession pushed the final numbers for Obama's 2009 deficit up to $1.4 trillion.

    So, effectively, Obama came close to doubling the deficit.

    Obama seems not to understand that the deficit is the jobs problem. To add to the deficit in the hope of creating more jobs is an oxymoron. Additional deficit spending just crowds out small businesses trying to borrow money to create jobs and consumers seeking credit to buy cars and homes.

    Soon, when the Fed stops printing money and we have to borrow real funds from real lenders, the high deficit will send interest rates soaring, further retarding growth and creating a cost-push inflation.

    The interest rate we are now paying for the debt -- about 3.5% -- is totally artificial and based on the massive injection of money supply created by the purchase of mortgage backed securities by an obliging Federal Reserve. Once these injections of currency/heroin stop, the rate will more than double, sending our debt service spending into the stratosphere. Once we had to choose between guns and butter. Now we will have to choose between guns and butter on the one hand and paying our debt service on the other.

    Obama's program of fiscal austerity in this new budget is a joke. He freezes very selected budget items while he shovels out new spending in his stimulus packages. If he wanted to lower the deficit, here's what he could do:

    1. Cancel the remaining $500 billion of stimulus spending and

    2. Cancel the $300 billion of spending in stimulus II.

    Those are the real numbers. Or, as Al Gore would have it, "the inconvenient truth"
     
  18. ubustem&how

    ubustem&how TS Member

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    I agree this spending is is out of control and had been for last 9 years. What I don't understand is why there was no cry from the so called conservatives during previous 8 years. Deficit spending is deficit spending no matter who is running things. What happenend to all the politicians who where calling for no deficits and pay as you go back in 2000. I guess they wanted their fair share and to h#%$ with the taxpayer! Throw'em all out!!!
     
  19. Setterman

    Setterman Well-Known Member

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    You have to remember 911 happened. A lot of Homeland Defense money got spent. Talk to your local County/City Emergency Management Supervisor. Nearly every community over 5000 people got grants for new radio systems/towers/IP/safety zones.

    A lot of overreaction to 911.
     
  20. highflyer

    highflyer TS Member

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    Anyone with a brain knows that America is going down the toilet. We all know that both parties are taking us there. But we also know that electing Democrats only speeds up the process.
     
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