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In 50 years not $1 has been paid to reduce deficit

Discussion in 'Politics, Elections & Legislation' started by slic lee, Apr 12, 2011.

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  1. slic lee

    slic lee Active Member

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    Every pres and each congress has only paid interest on our debt!
    We stand now on the edge of the end. We, the govt is broke, we have no money to spend, we spent it all, we cant borrow, no one will loan us money, a payment on money owed is due, we have no money to pay the interest, these words last night from a dumbocrat senator telling the judge, why cant you all understand why we have to increase the debt limit. The prez needs the 1.2 trillion to pay off the interest only, without it we are in default. The judge then says is that why obama needs 1.4 trillion in 2012, and again 1.7 in 2013 yes, we have to keep raising the debt each year to pay off the interest. The judge went nuts, how can you do this.
    YOU can ignore this,but listen carefully to obama his next speech, push aside the BS, smoke and mirrors, the 38 billion in cuts is chump change, obamas new tax increase dwarfs that,the repubs did whats good for them, nothing for us but more debt, we must fire all incumbents in the dem and repub party, the old ones must go, all they do is play with the dems against us, business as usual, as long as they have power. Lee
     
  2. Catpower

    Catpower Molon Labe TS Supporters

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    When I was much younger, I used to hear the old guys say they are glad they are old and won't have to go through what I would have to go through in my life, I always thought it was dumb, but as I have gotten older and opened my eyes I see what they were saying, we're screwed

    If the moronic voter base just keeps electing morons we are defiantly screwed
     
  3. Pull & Mark

    Pull & Mark Well-Known Member

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    Lee, Ronny Raygun had the national debt at -0- when he left office. Or close to it!!! Nothing short of getting rid of all Illegals and getting all of the working class tax paying Americans back to will work, will do anything. If we can do that, then we can use the same plan Ronny used. Spending money without getting the working class back to work will do nothing at all. O'bamy has already proved that with his fool proof plan. His biggest problem has been no plan with any long term solutions. We have to bring some industry back to the US. Just where do you start??? If things don't start to change soon, we have'nt even seen the start of homes lost to banks yet!!! Break-em all. Jeff

    It does not matter who we vote for its been set up for a win, win for them no matter who gets in Rep. or Dem.s. We're being set up and left with no one worth a grain of salt to vote for in the first place. I don't believe for one second that the 545 people running this country got us here by accident. These are the brightest men and woman from the best collages, Harvard, Yale, Princeton. All they need is a little more time and there ultamate goal will soon be reached. No middle class, just the rich and the poor. Now I've vented enough for now. Break-em all. JEff
     
  4. likes-to-shoot

    likes-to-shoot Well-Known Member

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    Pull & Mark.........All Smoke and Mirrors.
     
  5. wireguy

    wireguy TS Member

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    Anything we do now is rearranging the deck chairs on the Titanic. Ask yourself this question: Even if we began today doing everything right and reversing the destructive policies that have brought us to this point, could we turn it around and once again become solvent and have a strong economy. I'm not sure we could, but then add in the fact that powerful people in high places that we have elected insist on continuing down this road of self-destruction, and I honestly see no likelihood that we aren't going to crash and burn.
     
  6. Uncle Sam

    Uncle Sam Member

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    Gold and Silver anyone?????
     
  7. R.Kipling

    R.Kipling Well-Known Member

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    LTS,

    Berkeley educator, Steve Stoft owns and operates Zfact. Notorious for being long on hype and extremely short and bias on facts. Check out his political leanings, both on his own web page, and at the one I've tagged for you here.

    Just FYI. The Net has made me a real skeptic.



    IMO,

    Kip
     
  8. GW22

    GW22 Active Member

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    Kip: You're right to be skeptical. Delusional revisionists can spin the "facts" any way they want, but Reagan's leadership lead to two of the most economically successful decades in U.S. history. It also lead to the collapse of the Soviet Union. You remember the Soviet Union, right? They were the ones with ICBM pointed at us when we were having "nuclear war drills" in grade school. How much was it worth to dismantle that threat without firing a shot or sacrificing one life in battle?

    -Gary
     
  9. dmarbell

    dmarbell Active Member

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    For clarity. From www.omb.gov

    Danny
    [​IMG]
     
  10. R.Kipling

    R.Kipling Well-Known Member

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    interesting to compare who controled the House with Danny's graph.

    Kip
     
  11. stokinpls

    stokinpls Well-Known Member

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    "US deficit up 15.7% in first half of fiscal 2011

    April 12, 2011
    (AFP) – 1 hour ago

    WASHINGTON — The US budget deficit shot up 15.7 percent in the first six months of fiscal 2011, the Treasury Department said Wednesday as political knives were being sharpened for a new budget battle.

    The Treasury reported a deficit of $829 billion for the October-March period, compared with $717 billion a year earlier, as revenue rose a sluggish 6.9 percent as the economic recovery slowly gained pace.

    The Treasury argued that the pace of increase in the deficit was deceptive because of large one-off reductions in expenditures made during the first half of fiscal 2010, compared with previous and subsequent periods.

    Those included a $115 billion reduction in funds spent on the Troubled Asset Relief Program (TARP) -- the financial institution bailout program -- in March 2010.

    But 2011 so far has also seen significant increases in spending on defense, Social Security, health and debt service, while receipts have not grown as fast."
     
  12. stokinpls

    stokinpls Well-Known Member

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    Compared to where Jughead has us, Reagan did have it down to "zero". 2.6 Trillion (1988), isn't that about what we've paid for Air Force one since January '09?
     
  13. dmarbell

    dmarbell Active Member

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    Debt by Party? Check to make sure I have this right.

    Danny
    [​IMG]
     
  14. R.Kipling

    R.Kipling Well-Known Member

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    Danny,

    First thing I noticed is that the current and projected Federal Debt is way off. Check out the National Debt Clock site I have attached here.

    Additionally, even the democratic underground admits on their web site that Democrats have had control of Congress for 36 out of the last 50 years, and they have never balanced the budget in that time.

    If it's one thing that the rise of political science (term used as loosely as could be) has given us, it's that figures lie, and lier's figure.

    I'm beginning to look forward to an Egyptian Summer here in DC this year.

    Russ,

    I am so glad to see that someone else is "paying attention". We need to go back on a Cash Budget basis. Creative accounting is what has gotten us to the abyss.

    Kip
     
  15. halfmile

    halfmile Well-Known Member

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    Russ25, I am with you on that one. the mingled usage by the lamestream media of the terms "deficit" and "debt" cause the great unwashed masses to treat them as one and the same.

    For the record, The lowest debt was in the Nixon/Ford years, (After Ike's admin brought it down) was 40 per cent of GDP.

    Reagan's supply side scenario did create growth, but the DEBT also tripled.

    We will be shortly becoming Weimar Germany, and it is not going to be fun.

    HM
     
  16. likes-to-shoot

    likes-to-shoot Well-Known Member

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    Kip, thanks for the heads up on the website.

    The downside of the information you can obtain from the web is a person can find the kind of stats to back up anything he wants to believe and the next guy can tear down your so called proof the same way.

    Bill
     
  17. Pull & Mark

    Pull & Mark Well-Known Member

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    Interesting, Looks like I got a education in debt and deficit!!! Thanks Not that it changes much. Break-em all. Jeff
     
  18. Stl Flyn

    Stl Flyn Well-Known Member

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    doggai,

    Give me the numbers when the Republicans had total control of the House and Senate for the first six years under President Bush. You seem to have a good grip on the numbers.
     
  19. Walrus

    Walrus TS Member

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    The actual interest cost of the national debt is $35.93 billion per month thus far in fiscal year 2011. The total cost of the debt in 2010 was $413.994 billion. Bear in mind that the Treasury is borrowing money at historically average low rates. The average percentage cost on the whole $14.2 trillion debt presently is 2.991%. This time last year it was 3.232%.

    Think what will happen to the cost of the debt if we add another $1.3 trillion to the total by the end of this fiscal year. Much worse, think what will happen to total interest costs when interest rates rise.

    And the answer is not to tax the rich at higher marginal rates. There are just over 9 million tax filers in the top 5% of income tax payers. Collecting 10% more from them would bring in enough to cover 1.88 days (that's DAYS) of government spending. The answer is to cut expenses. I'm talking about taking a knife to the big three...Medicare, Social Security, and Medicaid, in that order.

    Can you think of another way?
     
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