U.S debt to rise to $19.6 trillion by 2015

Congratulations! The Democrats have done a great job with the economy and jobs since they took complete control of Congress in January, 2007.

And Barney Frank says give us MORE authority. Yeah, right.

Well, don’t worry folks 2015 is AFTER 2012. ;) It may take this long now but with the numbers of unemployed, if our GDP shrinks it will get here faster.

I am sick about this. My children have no future in this country whatsoever. Good-bye USA, hello Greece.

How can any Administration raise the debt by 20-30% in a couple years. The Joker and his Clowns are really doing a job on the USA.

The liberal left has no intentions other than to destroy this country. The know the score – and still can’t spend fast enough. It’s just a matter of time unless we act quickly and decisively. November can’t get here fast enough.

The only way to stop Federal overspending is to cut off their allowance since they are acting like spoiled children with their first credit card that daddy pays. Pass a constitutional amendment that all taxes are paid to the respective states and they forward their proportionate share to Washington. If a particular states’ economy takes a setback that impacts their contribution, then their amount sent to DC is reduced and the Feds will have to learn to live on what they receive.

Dear God,

Please, please, please…..NO MORE SOCIALISTS.

Uncle Sam

Why is it so hard for politicians (either party) to understand – When the private sector borrows, its an investment with the goal of getting a return…buying a new factory, stocks, private house (build equity and eventually own outright) The private sector pays its bills and lives within its means (unless the government backs them up..very bad idea)

When the government borrows, it used to pay for National Security, Improvements… roads, waterways… general infrastructure. These did not provide a return per say, but it did make the way for better and safer growth.

Social spending by the government has taken over the primary means of living by to large a percent of the population. This cannot continue without the entire system crashing.

When Obummer and hisgang are through so will the country. They want to destroy the market system so the only alternative will be government controled everything and drain you dry taxes to pay for socialism

All we have to do is shut down the government for 1 year, and we’ll be out of debt. So let’s just do it and get it over with.

And on top of this, today I hear that Obama paid Paul McCartney to sing at the White House?????

They think we are actually serfs for them!

We go to work, pay them so much in taxes and they spend it on stupid things, the ARTS, NPR, LaRaza, a frog, a toad, million are given to foreign countries each and every year, illegal aliens…and the list goes on and on!

My ancestor left his country in 1747 because he was a serf, so he got a letter signed stating he could leave.

Are we back to serfdom yet? YES!

And on top of this, today I hear that Obama paid Paul McCartney to sing at the White House?????

They think we are actually serfs for them!

We go to work, pay them so much in taxes and they spend it on stupid things, the ARTS, NPR, LaRaza, a frog, a toad, million are given to foreign countries each and every year, illegal aliens…and the list goes on and on!

My ancestor left his country in 1747 because he was a serf, so he got a letter signed stating he could leave.

Are we back to serfdom yet? YES!

America deserves the government it elects. Idiot know-it-alls in college in North Carolina swung that former Red State blue for the Teleprompter In Chief. Mindless dolts who never voted before and didn’t even know who controlled Congress during the election year of 2008 (DEMOCRATS) voted for the Obowma Administration. People blindly voted for him because of his skin color. The disaster of epic proportion presidency will surely go down as the beginning of the end of America as we knew it. Great job Amerika. You morons.

Enjoy it America…..you voted them in!

Right now, All of the Gold in the world will cover only about 1/2 of today’s National Debt. (http://tinyurl.com/USPublicDebt) At $19T, all the gold in the world would only be able to pay off about 1/3 of the National Debt. Thank you Congress!

Lets be real here; turn out the lights,the party’s over. After all these years of giving handouts to every Tom, Dick and Harry, the bills are coming due. And thanks to Johnson, Nixon, Ford, Carter (especially Carter) Reagan, Bush 41, Clinton, Bush 43 and Obama, they ain’t getting paid. AMERICA IS BROKE! We is out of money and we be screwed. Like it or not, that’s the way it is. I say lets sell China some real estate, like California and Hawaii. that should buy us some time.

Lets be real here; turn out the lights,the party’s over. After all these years of giving handouts to every Tom, Dick and Harry, the bills are coming due. And thanks to Johnson, Nixon, Ford, Carter (especially Carter) Reagan, Bush 41, Clinton, Bush 43 and Obama, they ain’t getting paid. AMERICA IS BROKE! We is out of money and we be screwed. Like it or not, that’s the way it is. I say lets sell China some real estate, like California and Hawaii. that should buy us some time.

Aaaahhhhh, the radical (secret Muslim) thug’s plans are coming through. He hates America so much that this is his way of finally getting even!

America’s liberal Democrats are determined to turn the U.S. into a failed eurostate by spending money faster than it can be printed. It doesn’t matter to them that socialist overspending doesn’t work and hurts everyone. They have power to grab and special interest supporters to pay off with the someone else’s money.

Yeah, What Rachel C said!

Isn’t it interesting that many of today’s Democrats were anti-war protesters back in the 60s and have become what they claimed to hate. By-By Obama and friends. Let the tea party grow!

What America needs is another good Borrow and Spend Republican Administration to put the country back on track to fiscal solvancy.

Ahahahahahahahahah

“How can any Administration raise the debt by 20-30% in a couple years” – Brain Fart

You should ask George Bush, Cause he was the first to do it. And he is largely the origin of the current fiscal mess that the U.S. is in.

Bushie inherited a surplus from the Clinton Administration and quickly turned that into the largest yearly deficits that the U.S. has ever seen.

And his Conservative ideology ruined the American Economy in the process.

The U.S. is now going the way of the DoDo.

And the world will be a better place for it.

Wow, that means my family of 9 (counting only me, my spouse, and our children) will owe $600,000 as our “fair share” of taxes. That quite the bill to have by the time our second child graduates and begins college!!! $600,000 on top of a mortgage and our other financial obligations. I think we are over-extended as it is trying to feed and cloth our own children, let alone the Americans & illegals on the dole.

Ultimately, debt is slavery. Every dollar the federal government borrows makes us less secure as a nation, by making America beholden to interests outside our borders. So when you hear a politician saying America will do “whatever it takes” to fight terrorism or rebuild Iraq or end poverty or provide health care for all, what they really mean is they are willing to sink America even deeper into debt. We’re told that foreign wars and expanded entitlements will somehow make America more secure, but insolvency is hardly the foundation for security. Only when we stop trying to remake the world in our image, and reject the entitlement state at home, will we begin to create a more secure America that is not a financial slave to foreign creditors.
.
.
Dr. Ron Paul
October, 2004
http://www.house.gov/paul/tst/tst2004/tst102504.htm

I run an organization with budget problems. I cut my expenses to make it work. Here’s what we do…
1) Cut all foreign aid. Sorry, we’re broke
2) Except for Defense, downsize all federal departments by 50%.
3) Cut off the UN. They hate us anyway.
4) Close foreign bases that are there for “economic reasons” like in Germany.
5) Raise the Social Security full retirement age
6) Lift the cap on FICA payroll taxes (sorry, if you’re going to tax the rich, this is the only thing that makes sense)
7) Put in a small income tax on lower income so EVERYBODY pays SOMETHING.
8) End all price supports
9) Moratorium on cap gains tax for one year. Reduce corp. income tax to 25%
10) Abruptly end all bailouts and subsidies. Let the free market rule

It’s a start…

It’s a start…

I’m pretty sure that all of the wars we are funding is the cause of the majority of our debt. Obviously no one on this site has looked at the costs of those wars. You want jobs? Spend less on killing and more on creating. Nothing socialist about that. Stupid republicans…..

Reagan increased the US debt by 20% during his term in office. Bush I increased it 13%. Bush II increased it 27%. Don’t be blaming Obama for this.

See: http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms

Dear Afraid4 Me: I agree with everything you suggest except raising the SS full retirement age. I just turned 65 after paying SS since the 8th grade. Now I want some of it back! By-By Obama. Go Tea Party Go!

When murderous muslims flew planes into the twin towers on 9/11 their aim was to demoralize and terrorize us as well as cause a breakdown of our financial system. I have not been able to figure out why they are still out there trying (Time Square bomber, underwear bomber, etc) because the Reprobate in Chief, Reid and Pelosi are doing everything they hoped but failed to do.

I echo those who say you got what you voted for America and thanks for ruining my children’s future. You are indeed a bunch of freaking morons!

“And he is largely the origin of the current fiscal mess that the U.S. is in.”

“Stupid republicans…..”

You mindless d-bag libtards are the ones who have been running the nation for three years including Congress. You mouth breathers OWN this disaster. Compare Bush deficit spending to this current spending and get back with us. Oh, and by the way, Republicans ran Congress when Clinton was president, hence, the balanced budget. Republicans blew their power, but your beloved Demotards are blowing it on EPIC proportion – and taking the rest of Amerika with them.

F.A. Hayek’s Road to Serfdom explains that this crash is just what Obama and Soros want. First they break us, then they enslave us. Smart…destroy our own kids and grandkids for smarmy little handouts from scummy Marxists. Wake up, America. We are better than that!!

Obama is an accident that happened.

Maroons

By all accounts, the reckless spending of the Obama Administration and Congress have put the USA in peril. We may be unable to fund our military in the very near future which places our national security in dire jeopardy. Therefore, I believe immediate IMPEACHMENT proceedings should be opened in order to save our Republic.

With the debt surpassing GDP no one can argue against the claim that it is a threat to our national security. Obama and Congress have acted unconstitutionally by failing to uphold that very document. They should be legally and peacefully be removed from office.

Tea Partiers who accept social security? Do you understand what the Tea Party stands for? If Tea Partiers were in charge there would be no social security. Y’all must be as smart as SugarballsX.

These clowns are gone in 2012! Vote for people who will uphold the Constitution and won’t waste all of our money on handouts and entitlements!

Obama and his DEM regime are paying off their constituency (i.e. trial lawyers, Unions, GLBT, and environmentalists) by raiding the Treasury and making our children and grandchildren their serfs. If they liquidate enough of our wealth through confiscatory taxation and deficit spending, we will depend on the federal government for our very existence. That is what these Marxist ideologues want.

You have to excuse the T-baggers. They are the same dumb as rockers who happily voted for Bushie and Reagan and Bushie.

They will vote for any pig that promises to lower their taxes, and pay for government with more massive borrowing.

They are after all the same traitors who were demanding that Clinton’s surplus be returned to the people because it was an example of overtaxation and shouldn’t have been used to pay down the debt.

Hahahahahahah…

T-Baggers are too stupid to be allowed to breathe.

Dear ByByObama
“Dear Afraid4 Me: I agree with everything you suggest except raising the SS full retirement age. I just turned 65 after paying SS since the 8th grade. Now I want some of it back! By-By Obama. Go Tea Party Go!”

Everybody wants cuts, except where it affects them ;-/
So we get no cuts :-(
All Americans need to man the fvck up and do the right thing, even if it adversely affects you.

My view is that nearly all of us had a part in the creation of this mess. Lots of little things that have been done over time have taken away nearly everything that made America the greatest country that ever graced the face of the earth.
When did we stop building things and why? When I was young, seeing “Made in China” was very rare and always a sign that the product was nothing that you would likely want. Now, to find “Made in America” is very rare. Sure, it costs more, but then somewhere, we decided that someone building a table should be paid $20 an hour.
Taxes, I remember my father doin his taxes on the kitchen table in an evening. The code was that simple. You earned this much, you’ve paid this much..here’s the difference.
“Let’s sue everyone!” The largest, most avoidable part of medical cost increases are malpractice insurance. These have been driven up by the litigious nature that we have adopted.
How do we fix things?
– Adopt the fair tax. Simple, a national sales tax on all goods that everyone pays no exceptions. This is offset at lower levels by rebates for lower wage workers.
– Start buying American. Sure, you may have to save a little longer for that new living room suite, but it will put your neighbor to work and most likely last longer.
– Vote!!! It’s abysmal that in this country so few actually use the greatest gift that our founders gave us. Don’t stop there though, hold the politicians accountable.
– INsist on a balanced budget. If they can’t do it, kick them out.
I could go on forever, but you see where I’m going. It’s time to stop the insanity and make America work again.

The planned collapse of capitalism and the U.S.

“Reagan increased the US debt by 20% during his term in office. Bush I increased it 13%. Bush II increased it 27%. Don’t be blaming Obama for this.” – Innumerate Ameican

WRONG. You stupid Americans can’t even undrestand a simple chart.

Reagan my Innumerate fool, increased the debt by 66% in his first term, and then 104 percent in his second term.

Bush Sr. increaesd the U.S. debt by 140 precent .

Under clinton it increased by 118 percent in his first term and 45 percent in his second , with a surplus showing in the final 2 years.

And Bush Jr increaed it by 18=73 percent in his first term and 263 percent in his second term.

And of course Bush left the U.S. in the middle of a decline into a second great depression.

But that isn’t Bush’s fault entirely. It’s the fault of Conervative ideology and factual revisiionism.

Many friends and associates are telling me how most if not all of their clients are accelerating income that they could be receiving in 2011 and beyond into the 2010 tax year, or restructuring their operations to avoid the punitive tax increases commencing next January 1st. Further, they are making major changes in their business operations to minimize the impact of the changed business environment including healthcare expenses, taxes, fines, etc..

The apparent reported strength of our 2010 economy I believe may be attributable to these accelerated changes in operation of these people. Assuming this reporting of the inflated growth of the economy actually to be untrue (knowingly or not), I believe that when January 1st arrives we will begin to see a double dip so devastating that a 20% unemployment level can be expected.

As Fidel Castro recently said (paraphrasing) only war in the Middle East will enable Obama to reach a second term!

quantos

1) Cut all foreign aid. Sorry, we’re broke

Virtually all of America’s foreign aid goes to Israel. And totals 14 billion per year.

Starve the beast.

2) Except for Defense, downsize all federal departments by 50%.

So you are going to fire half of all government employees.

You know, get rid of half of the cops, and half of the food inspectors, half of the people building them roads, and half of the government funded scientists doing the R&D in your nation, etc. etc. etc.

That will certainly improve the U.S. employment situation, and drive science and technology out of the nation almost entirely.

3) Cut off the UN. They hate us anyway.

What about those 10 billion in back payments you owe Deadbeat?

4) Close foreign bases that are there for “economic reasons” like in Germany.

Good idea. Nobody wants you around anyhow.

5) Raise the Social Security full retirement age

Cancel the American dream due to 30 years of Republican treason.

8) End all price supports

You mean buy shugar from Cuba?

Ahahahahahahahah……

9) Moratorium on cap gains tax for one year. Reduce corp. income tax to 25%

Yup, cut those taxes. It wil increase government revenue.

10) Abruptly end all bailouts and
subsidies. Let the free market rule

Exactly what Enron, Exxon and BP want.

Some dare call it Republican Treason.

“Ultimately, debt is slavery. Every dollar the federal government borrows makes us less secure as a nation, by making America beholden to interests outside our borders.”

“We need to manufacture an crisis in order to assure that there is no alternative to a smaller government” – Jeb Bush – Imprimus magazine 1996.

Starve the Beast…… Has been the Republican battle cry.

And America’s downfall is the result of that 30 year campaign of treason that started with the Reagan Regime.

Audit The Fed.

Then you will know why we have to end the Fed.

Bondholders expect to be repaid with taxes extracted from US citizens including the unborn. These bondholders are investors in the enslavement of Americans. Children are being born into this bondage right now.

It is shameful for a person to voluntarily enter into and then default on a loan. But nobody has to honor a contract written by other people to establish their involuntary enslavement. The right thing to do is to cast off the shackles and renounce this debt.

Wait!!! You mean all the spending is bad!?!? Go figure, I never would have guessed. And Obama said we had to have the Fed print and borrow to spend our way out of this.

“The right thing to do is to cast off the shackles and renounce this debt.” – DeadBeat American

2/3rds of your debt is owned to your own people.

Ahahahahah.. You can’t escape in that direction either.

It’s a good thing we keep giving over three billion dollars a year to israel in welfare payments, huh???

I’d beg to differ folks! I don’t care WHAT the U.S. Treasury says, their debt is NOT my debt, YOUR debt, nor anyone else’s but the TREASURY DEPARTMENT!!

I do NOT accept responsibility for this, and I will NOT allow some government bureaucracy to saddle me with THEIR BILLS!

They go GO TO HELL as far as I’m concerned, because that’s where they’re going to end up anyway!!

“With the debt surpassing GDP no one can argue against the claim that it is a threat to our national security. Obama and Congress have acted unconstitutionally by failing to uphold that very document” – Republcan Whiner

And as we all know. Allowing the U.S. state to endure anothre decade long great depression would have been upholding the constitution.

Ahahahahahahahah

One wonders what constitution the MoonBat Conservative is referring to? It’s certainly not his nations.

“The planned collapse of capitalism and the U.S.” – Whining American

In a Democracy the public get the government they deserve.

Yes We Can!
Our Time For Change Has Come!
Our Moment Is Now!
We Are The Ones We’ve Been Waiting For!
Cange We Can Believe In!

….kinda rings hollow right about now, huh?

“that printing began under the last Bush Regime that saw a devaluation of the U.S. dollar of 40%.”

And the dollar has been devalued about 98% since 1913 (when our third central bank was founded). I blame both Republicans and Democrats. To favor one or the other is like praising the aroma of feces over that of vomit.

The biggest problem with the United States is, it’s full of millions of really DUMB, gullible and naive IDIOTS who have no common sense, but DO have the right to vote.

MOST of them are registered Democrats who honestly have no idea what the hell they’re doing, and they’re so damn stupid they don’t realize that they’re chearing for their own enslavement!

They’d literally shoot themselves in the head if a Democrat politician told them that’s what’s best for the country!!

“When did we stop building things and why?” – Who Cares

Because corporations found it to be cheaper to employ people outside of your country to do the work you once did.

Globalization has been a race to the bottom… And as the Socialists predicted – America lost.

“Taxes, I remember my father doin his taxes on the kitchen table in an evening.” – Who cares

Ya, but that was back when Americans could add and subtract.

“INsist on a balanced budget. If they can’t do it, kick them out.” – Who cares

The American economy since Reagan has become habituated on Republican Borrowing. Trillions in stimulus pour into the country every year and it’s like crack to an addict.

Trying to get off the Borrow and Spend Republican habit can’t be done cold turkey. It would reduce the U.S. economy by about 10% and as some Republican whiner said above a 1% reduction in GDP means about 1 million jobs, so a 10% reduction would mean a massive increase in unemployment. Not only because of the loss of the stimulus, but because it would be double in size with the loss of millions of federal employees.

The U.S. with great pain be able to de-habituate itself in a decade or so. But by that time your federal debt will be over 24 trillion and you will be paying more interest on that debt than you would have been paying for those employees that you fired.

And lets face it. Those employees are food inspectors, road construction workers, bridge designers, safety inspectors, police officers, product import inspectors. And all manner of regulatory authority that keeps the collapsing American Society from collapsing any faster.

So your solution is unworkable. It will just increase the rate at which your failed nation is already collapsing.

Looks good on you.

“Yup, there are no returns to policing, building roads, or bridges”

There are indeed returns. For example, private security agencies (e.g. security guards), private roads, and private (i.e. toll) bridges can all generate profits by competing in the free market.

It’s only the state’s provision of these economic goods where bureaucractic rule prevails and profit and loss signals have only minor importance. These monopolistic-like services necessarily come with degraded quality and at increased cost.

Libertarian00 wrote: “When exposed to facts. Republican Cretins grow ever more confused and angry.”

That’s like saying the Ford Motor company should be held responsible for BP’s oil spill!

The facts actually SUPPORT the Republicans, and for you to suggest otherwise is incompetent, obsurd, ASS BACKWARDS!!!

I was brought up with the mind set of “You Only Deserve What You Earn” Unions are and will destroy this country.
Ask Greece about how well thing are going these days.

“In a Democracy the public get the government they deserve.”

And the government gets the public it deserves: socialists indoctrinated in child concentration camps. People with among the worst academic scores in the world.

Getting a liberal to fix the economy makes about as much sense as hiring a blind hemophiliac to work on the production line of a razor blade factory.

If a liberal says something about anything, and there’s not a conservative around to correct them….are they still wrong?? Hmmmmmm

Here’s the announcement in 2015: Anyone who wants their Social Security, Medicare, Food Stamps, report to your local FEMAville WITH your national ID card. Those able-bodied who don’t want to starve in a FEMAville, get into that mine. Every piece of gold, silver, coal, oil, copper, iron, nickel, lead, zinc, beef, pork, wheat, corn, soybean, etc. has to get from here to port, then on board the freighters to the BRIC nations. This will continue until the US national debt is paid in full. You can march and strike and demonstrate all you want. You can burn down your own cities if you want. We’re just here for you natural resources. And for those who are good shots, we’re always looking for people that specialize in maintaining order.

And where is all this money coming from again? The US keep digging their hole deeper. Interesting to see what will happen to their country.

Seriously, what world are these Cons living in? Again, Reagan TRIPLED the U.S. Debt. W Doubled the U.S. debt!

Each time the GOP implemented tax cuts to the top 1% under the guise of trickle down, all it has resulted in is the movement of income from the Middle Class to the top 1% (1980, the Top 1% earned 9% of total U.S. income)

Now the partisans or racists or idiots want to attribute the interest expense of $11T in debt accumulated prior to Obama to him.

Since there is no way a person of even marginal intelligence would attribute that interest expense on Obama, it absolutely means it’s either racism or partisanship.

So if it’s not racism, than AMERICA FIRST!

“And where is all this money coming from again? The US keep digging their hole deeper” – whomever

Hundreds of billions is coming from outside the U.S. in the form of debt purchases. But the vast majority is still debt owed to Americans themselves.

So defaulting on the debt means bankrupting american institutions, retirement funds, corporations, etc.

“Borrowing a trillion dollars plus is the greatest thing we ever did.” – Budget Advisor to Ronald Reagan.

Obama has nothing to do with this. He is a puppet of The New World Order. The Bankers are looting the middle class on purpose, and at this point, The Fed has monetized debt to the point of oblivion. It is simply a matter of time. The question is, what kind of system will we The People establish when the old comes crumbling down?

It can only rise if Congress votes to raise the debt ceiling.

So hopefully the republicans will put the brakes on that vote to force the Democrat Controlled to got it on their own and pay for it politically, or finally learn how to balance a budget.

America is under assault from both ends. Both the ideological left and the ideological right are responsible for the mess we are in.

The left expanded our welfare state from the affordable, small scale working system we had in the post war years. LBJ’s Great Society is what tripped us into debt in the first place, and it’s been the driving force behind much of our government’s uncontrolled growth ever since.

Free trade believers from both the left and right have stood by while our well-paying blue-collar jobs fled overseas. That gutted our tax base and also led to massive increases in personal debt as people tried to maintain their standards of living.

Both parties caved to government worker unions and allowed their wages and benefits to grow, even as the wages and benefits of the private sector shrank, largely due to government policy. The average civilian government employee cannot earn more than the average private sector employee if you want a functional system.

Simply put, the post-60’s American (and European too btw) model of government is a failure. It doesn’t deliver anywhere near enough gains to offset it’s gargantuan costs. It’s built on population pyramids and never-ending borrowing…. and neither can continue forever.

Ya gotta love the idiot liberals who are too stupid to know that Bush wasn’t a conservative, and are so cluesless that they think conservatives and Republicans are the same thing. But then again, liberals don’t know they are stupid just as a fish doesn’t know it’s wet…it’s just their natural state of being.

“And the government gets the public it deserves: socialists indoctrinated in child concentration camps. People with among the worst academic scores in the world.” – Republican Whiner.

Well certainly ranking at the bottom of the list.

But then everyone at the top of the list is from a socialist nation.

“Facts are silly things.” – Ronald Reagan

I have to say libertarian00, cracking me up, good stuff . I myself am more of a libertarian than in either of the two pretty much the same parties. I have an idea let’s stop all lobbying, earmarks and pork barrel projects for 2 years…what does that save us, if the pols have to actually work for me?

“Since there is no way a person of even marginal intelligence would attribute that interest expense on Obama, it absolutely means it’s either racism or partisanship.” – Whatever

Or Marginal Intelligence. AKA Republicans.

You know. The ones that can’t distinguish between deficit and debt, and think that 13 trillion dollars in debt can be zero’d by not spending 2 trillion over one year and putting 20 million Americans on the street without unemployment benefits.

Woo Hoo… Them mindless Republicans.

BTW, to the half wit who said “the Dems have done so well since taking control of Congress Jan of 2007.”

Guess what? The Recession started in March of 2007!!!

Wake the f-ck up!! Not sure if you are a racist pissed that a man of color could be Prez, an evangelical that is hoping for the End Days or a partisan that puts party before Country, but stop the rhetoric and step into reality.

The GOP had control in Congress from 1994 to 2007 and control of the Presidency from 2001 – 2007.

The combination of Clinton and a COOPERATIVE GOP Congress, Newt met with Clinton at least once a week, resulted in a Balanced Budget and no addition to the National Debt when W took office…

Let’s see….Hhhmmmm…What happened?

GOP Prez and GOP Congress approved a fabricated invasion of Iraq…$1T plus interest added to the US debt.

GOP Prez and GOP Congress passed the 2003 Tax cut for the Top 5%…According to W’s Economic Advisory Council and the CBO, adds $1.7T to the US Debt, plus interest….

GOP Prez and GOP Congress passes Medicare prescription drug bill in 2003, adding $1.2T to US Debt, plus interest.

So, the US debt, thanks to Reagan and W stood at $10.6T when Obama took office ($12T after W’s 2009 Budget year ended Oct. 2009). If you add the $3T in additional US Debt added through W’s tax and drug policies, we are at $15T.

To date. Obama had his $700B Main Street bailout, 3 War funding bills he submitted ($108B) and his 2010 $3.5T budget.

THAT is it!!!!!! So how does $4.2T in spending, offset by at a minimum $2.9T in tax revenue equal $15T in debt???????

Understand his deficit this year may hit $1.3T, but how does that equate to $15T??

I can’t stop laughing. I don’t think it’s a good thing, though.

You go Obama, Bankrupt the country so that we can all join together with the European community. That has to be your ultimate goal. How else can you so calmly speak to the American People as you drive this country into the ground. By the way where is the article on the new CBO numbers about healthcare costing twice as much as originally thought. Funny how that has been buried.

“BTW, to the half wit who said “the Dems have done so well since taking control of Congress Jan of 2007.”

Guess what? The Recession started in March of 2007!!!” – Republican Liar

Oh, lookie… Looks like we have found another Republican Lie.

“The late-2000s recession (or sometimes the Great Recession[1][2]) is an economic recession that began in the United States in December 2007 (and with much greater intensity since September 2008, according to the National Bureau of Economic Research). ” -http://en.wikipedia.org/wiki/Late-2000s_recession

GOP Prez and GOP Congress approved a fabricated invasion of Iraq…$1T plus interest added to the US debt.

Correction

Projected to cost 4 trillion.

Claimed to cost 40 billion by Bush when he sold it to the nation.

All Republicans are Liars.

“By the way where is the article on the new CBO numbers about healthcare costing twice as much as originally thought.” – Republican Traitor.

The American Traitor is right. Americans are undeserving of health care.

“You go Obama, Bankrupt the country so that we can all join together with the European community.” – Republican Traitor

Republicans demand that Obama finish what they started.

What America needs to save itself is another tax cut for the wealthy.

It’s what has kept America going bankrupt for the last 30 years, so it will keep America going bankrupt for the next 30.

Republican Logic.

Ahahahahahahahahahaha………..

Buy guns, gold, and property… then hope for the best….. Buy crampons and learn hour to survive at altitude. He who survives writes history.

What we need are real conservatives, not pretend conservatives like W. Liberals are strictly verboten, as they have virtually no insight into our economic dilemma.

See, e.g.,

http://online.wsj.com/article/SB10001424052748703561604575282190930932412.html

As this article explains, liberals simply haven’t the slightest grasp of basic economics. The best thing they can do is step back and shut up.

The budget deficit will be sharply reduced by inflation, along with entitlements. The fact is that the people are not going to allow austerity measures, and the government is not going to allow a default. That only leaves the “print money” method of resolving the economic deficit. More at:

http://wjmc.blogspot.com/2010/05/using-inflation-to-reduce-public-debt.html

Thank you for the opportunity to comment…

Folks..wake up…the debt is rising because of all the entitlement programs and aide agreements made years before Obama took office. The debt is rising because of the economy (job loses = less tax revenue).

Hey, all you Red-blooded Americans who yearn to have this country be more like Europe… you’re getting your heart’s desire! Unfortunately, it appears not to be the quaint socialist utopia you imagine in your minds, but more nearly resembles Greece! Ironic. Just say ‘NO’ to socialism and fascism.

Obama has been on the job “sense day one” and “focused like a laser”…I would agree with this statement if it was about taking over private industry, killing jobs, eliminating insurance companies and coal producers and making the US a third-world economy…and we are about to be hit with real death blow from the EPA on co2 limits (Cap and tax without a vote in congress).

Republicans, democrats, liberals, conservatives, wealthy, muslims, unions, jews, whatever… choose your bogeyman and make damn sure YOU are on the other side of the line. regardless… at some point, you’ll realize the world is round.

“The budget deficit will be sharply reduced by inflation, along with entitlements.” – Whatchamacallit

Correct. The value of the American dollar will fall significantly and the bad money will chace out the good, which will go to purchase chinese dollars and strengthen their purchasing power while the purchasing power of the American people falls though the floor, as will the value of their bank accounts and their property.

There are no alternatives for the failed American state.

I escaped the fall years ago when it was obvious that Republicans were destroying the country.

There is some comfort, that with a fiscally conservative president, most of this damage can be undone by executive order and reconciliation.

“Just say ‘NO’ to socialism and fascism.” – Stupid Republican.

The Republican party is the party of Fascism in the U.S. complete with it’s creation of the Homeland Security department – patterened after the NAZI homeland security department.

Fascism is a method of governance whereby the state is governed for and by corporations.

Modern Republicanism is nothing but neo-Fascism.

Everyone should know by now that the way to reduce the debt is by getting out of the middle east. What happened after we left Vietnam, nothing. Let them live in the stone ages if they want to. It’s the old domino theory. If we had held the CIA and the FBI’s feet to the fire we would not have to have created the stupid and useless Dept. of Homeland Security. Domestic prosperity will bring the debt down. It is only logic. What goes up must come down. Don’t let people rule by fear and intimidation. Look what it did for civilization after 1939. WAKE UP!

Let’s vote:
1. Who vote for Obama as the worst President in history, both pass and future?

2. Who vote for impeaching Obama out of the White House? (Although I am not sure if the White House still has its white when American unable to afford the white paint to paint it.)

It is unbelievable, in just 2 years, American has this much debt. What has happened to the Congress? What has happened to the Democrat Party? Have Americans paid them to destroy our own country? Good God, American do need some new blood in House, Senate, and administrative team.

Not if we roll back all this spending…And government heath care will be first.

One comment a few above writes, “Buy guns, gold, and property… then hope for the best….. Buy crampons and learn hour to survive at altitude. He who survives writes history.”

Maybe so? If anyone can remember how to write and if anyone has the time or ability to read what you think you will record. And you won’t get any more agreement about your interpretation of events than you get now.

What on earth are crampons?

It is easy to acknowledge that the US government spends more than it receives in revenues . . . YET, it is far more difficult for ‘the people’ to have the
necessary conviction to hold the two political parties accountable.

Personally, at first, I blame Obama and his administration, but I, now, do not care which party caused the troubles. We are way passed the blame game with 13 trillion dollars in debt. Bush is gone more than 2 years already. That excuse is old and not working anymore. All I have cared now is how to fix the debt crisis, if Obama and his administration cannot fix it and continues to complain, they better step down to clear the way for other parties and president (if possible) to fix the problem. If the Congress cannot fix the debt crisis as well as everything else, the same thing would need to be done. Let’s other people replace them and fix the problems in American. Complain does not help. one again, WE ARE WAY OVER THE BLAME GAME, WE NEED QUICK AND LONG TERM SOLUTIONS NOW!!

People just wait. 20 million illegal aliens be given amnesty. Along with free health care. Don’t believe me. You will stand in line and pay more for health care. 20 million illegal aliens will get it for free.

The author is way to optimistic – she assumes that we GET to 2015. 5 years from now the Euro will be long forgotten and the USD may suffer the same. It’s likely the creditors will demand the debtors to pay them back in assets other than paper money.
The good news is, we won’t owe $19trillion in FRNs. We can’t get there (2015) from here – the game will be over before then.

Consumers need to start playing their part as well. The administration is doing a bad job of keeping our economy in shape, but the consumer (yes, almost everyone on this webpapge who is criticising obama) are also to blame. Stop buying imports!! That increases the state revenue of other nations. If we start buying American, we support our own economy, there are more taxes collected, and we can get things in order. I’m sick of Americans talking about the government ruining the economy when those same people go out and spend their money on chinese made junk. Americans need to start saving or buying American.

The American consumers are also to blame for the economic crisis.

The debt incurred since BHO took office was necessary to prevent a depression.

The debt incurred under GWB was an elective debt to pursue an unnecessary war of choice in Iraq.

Necessary debt added under BHO to unnecessary debt incurred under GWB makes BHO look bad to those with short memories. They feign concern for the national debt, but they were silent as the true problem was being created under Bush. When the economy was good, Bush should have been saving for bad times like these (or, at the very least, not increasing debt in order to give tax breaks to the rich); instead, he squandered the national treasure uselessly and crippled our ability to handle the recession (a time when deficit spending is truly justified).

Obama is dealing with the situation as inherited. Blaming him or the Democrats is simplistic at best. But, it’s probably emotionally satisfying to tea party repubs on several levels.

Say Hello to the United States of Banana Republics………………..brother could you spare a trillion?

Every day our economic plight just depresses me more. How hard is it to see that politics as usual is KILLING our country? We need to ditch the 2 party system and hire some real people (not politicians) to correct Washington. Why can’t they live on a budget like my family?

How did we get to this point in American History? George Bush (a far-right conservative) made the flawed decision to attack Iraq based primarily on Ideology and Religious reasons, not on facts. When decisions are made within a framework that excludes Rationality, the country is doomed for failure. The Republicans are more guilty of this type thinking and decision making process than the Democrats, although some Democrats have to share blame here also. No one wants to admit it, but the USA is in a hidden social and idelogical civil war between the two political belief systems, with no apparent common ground. The only benifactor of this political civil war is the Media, which can sell more advertising space and time by fanning the fires of conflict even higher. Think Out of the Box for solutions, don’t look for the solution in political ideology.

STOP the Socialist. Like on every forum people are blind to the facts and this is the reason that we are in the situation that we are in. Both parties are to blame for this situation. Republicans cut taxes that add to the deficit which in turn requires us to increase taxes down the road. Its estimated when everything is set and done in our current wars we will be 3 Trillion in the hole. The democrats create huge social programs that we can not afford. We have a military budget that is out of control, health care expenses are through the roof and we haven’t even started Obama Care. We need to balance the budget. Neither party will do anything until we are in crisis mode. We need 499 BILLION just to pay off interest each year and that will not pay down the deficit. Clinton balanced the buget but did not add enough to the surplus to pay for the deficit.

Stop worrying guys!!! If worst comes to absolute worst….the fed can just print billions more dollars for everyone!! Problem solved! If only Greece had a simple option like this!

This is why you should never give the “checkbook” to a Community Organizer!

The Progressives define someone being rich as, one who makes more than $1.00 per year.

Suffocating debt begetting prolonged economic stagnation courtesy of a President who never worked a real job in his life, a man whose only gifts are in manipulating others and justifying parasitism.

Well well what’s left of the American dream. Keep listening to Bernanke and his friends. They say we’re not going to make the same mistake as in yhe 1930’s. That’s correct, they are making even a bigger mistake now.

Guilty are those who were against tax raises the last thirty-something years.

Shame on all of you!

If we Tea Party members are so stupid then how is it that I own quite a lot of gold? It’s far more than most other people do because I have never trusted government. I own guns, too. And I want the Tea Party to swell.

“Guilty are those who were against tax raises the last thirty-something years.
Shame on all of you!”
-gastronic
***************************
Yeah, thats the problem. We just haven’t been taxed enough. BTW, how’s that kind of policy working out for California, New York and Michigan? Allow me to answer for you, they are bankrupt and driving businesses and citizens out of the states.

Go read up on Laffer then revisit your statement. You are operating on a premise that has been demonstrated to be false over 30 years ago.

The REAL problem is that the dolts in Congress can’t stop spending our money on expanding government.

What do you expect? These clowns don’t even have a budget.

Two legitimate functions of the government: provide aid/support during national emergency (gulf oil spill) and enact domestic fiscal policy (budget).

But the Democrat elistists have no time for such matters: they are far too busy attending parties with their rock star friends, playing golf, and jamming socialist policies down our throats.

Which trillion are you in the US using for your debt? You have a choice of
Either of the two numbers (see long and short scales for more detail): 1,000,000,000,000 (one million million; 1012; SI prefix: tera-) – for all short scale countries – increasingly common meaning in English language usage.
OR 1,000,000,000,000,000,000 (one million million million; 10 to power of 18; SI prefix: exa-) – for all long scale countries – increasingly rare meaning in English language usage but frequent in many other languages.

Okay…I’ll say it. Obama was planted here by Osama to destroy the US from within. Anyone got a better explanation for this moron?

Liberals always spout the incorrect Clinton surplus myth. Never happened. Why are they so dumb?

Fiscal
Year Year
Ending National Debt Deficit
FY1993 09/30/1993 $4.411488 trillion
FY1994 09/30/1994 $4.692749 trillion $281.26 billion
FY1995 09/29/1995 $4.973982 trillion $281.23 billion
FY1996 09/30/1996 $5.224810 trillion $250.83 billion
FY1997 09/30/1997 $5.413146 trillion $188.34 billion
FY1998 09/30/1998 $5.526193 trillion $113.05 billion
FY1999 09/30/1999 $5.656270 trillion $130.08 billion
FY2000 09/29/2000 $5.674178 trillion $17.91 billion
FY2001 09/28/2001 $5.807463 trillion $133.29 billion

In no year did the national debt go down, nor did Clinton leave President Bush with a surplus that Bush subsequently turned into a deficit. Yes, the deficit was almost eliminated in FY2000 (ending in September 2000 with a deficit of “only” $17.9 billion), but it never reached zero–let alone a positive surplus number. And Clinton’s last budget proposal for FY2001, which ended in September 2001, generated a $133.29 billion deficit. The growing deficits started in the year of the last Clinton budget, not in the first year of the Bush administration.

Keep in mind that President Bush took office in January 2001 and his first budget took effect October 1, 2001 for the year ending September 30, 2002 (FY2002). So the $133.29 billion deficit in the year ending September 2001 was Clinton’s. Granted, Bush supported a tax refund where taxpayers received checks in 2001. However, the total amount refunded to taxpayers was only $38 billion . So even if we assume that $38 billion of the FY2001 deficit was due to Bush’s tax refunds which were not part of Clinton’s last budget, that still means that Clinton’s last budget produced a deficit of 133.29 – 38 = $95.29 billion.

Anyone thinking what shape the econ. would be in w/out spending on stimulus? History has proven govt. spending (correctly) is necessary/helpful w/ the econ. situation we are in. This didn’t happen overnight or in the last year or two – try 2-8 years. Military action, economic downturn, housing/mortgage crash, auto sector/unions unrealistic – all compound the issue. Get real – spend but spend wisely. It’s the fault of us ALL!

This is not uncharted territory for the U.S. After World War II, our Grandparents’ generation instated the 70-94% upper-income tax brackets to pay off the staggering national debt, which was at 109% of GDP at that time. http://www.truthandpolitics.org/top-rates.php
It worked! This country had the most wide scale prosperity in its history while these tax brackets were in effect because corporations put their excess profits back into the wages & benefits of workers rather than funnel them to top executives like they do now. These top tax brackets paid down the national debt as long as they were in effect. Once these top rates dropped the national debt started to skyrocket. These top tax brackets must be put back into effect to pay down the debt once again. It has been proven historically to work and will work again.

This is not uncharted territory for the U.S. After World War II, our Grandparents’ generation instated the 70-94% upper-income tax brackets to pay off the staggering national debt, which was at 109% of GDP at that time. http://www.truthandpolitics.org/top-rates.php
It worked! This country had the most wide scale prosperity in its history while these tax brackets were in effect because corporations put their excess profits back into the wages & benefits of workers rather than funnel them to top executives like they do now. These top tax brackets paid down the national debt as long as they were in effect. Once these top rates dropped the national debt started to skyrocket. These top tax brackets must be put back into effect to pay down the debt once again. It has been proven historically to work and will work again.

In order for Social Security to survive the next generation we must reset the retirement age to 80, and here’s why…

80 is the new 65. 80 is the retirement age responsible legislators should have in mind when developing solutions to Social Security. Why 80? The math goes like this: 63/65 multiplied by 84: where 63 was the average life expectancy in 1938, 65 was the retirement age for Social Security in 1938 and 84 is the average life expectancy today. Without accounting for our increased longevity Social Security is not sustainable, period. Medicare can be used to subsidize older worker’s health care in order to encourage longer terms of employment. This will ensure Social Security’s solvency.

Placing false hopes on ideas that are marginal at best does not serve the public well, but only defers our day of reckoning. Lets put real solutions out in the public domain to begin serious discussions on real solutions.

I disagree with 4blazek above about Social Security. First of all, income for SS taxes is capped at the first $160,700. This means that even though Warren Buffet is drawing a SS check every month, he did not pay into it based on ALL of his income like the other 98% of us do. The cap needs to be removed. Second, the Baby Boomers will not all necessarily live to collect it. Third, the obesity epidemic will shorten the lifespans of tens of millions of Americans. Fourth, we are experiencing the worst economy since the Great Depression and tens of millions of Americans have lost their 401(k)’s. Defined-benefit pension plans are almost gone so people have nothing left but SS for retirement and many cannot find work to build up again for retirement. Age discrimination in hiring is a huge factor also. So the real solutions for SS are to eliminate the income cap and not allow Congress to use that money for anything else but what it is intended for.

Most of the comments blame SOMEBODY ELSE. I have not seen something like, “It’s MY fault, and I’m going to rectify it.” Especially from politicians.

There is a saying, “But of all things, Truth beareth away the victory.” Wishful thinking God Bless America does not determine the outcome.

Read how it was done, and why it went so pear-shaped so quickly… and then send a thank you card to Gee Dubyah and Tony B Liar.
http://gregpytel.blogspot.com/2009/04/largest-heist-in-history.html

We live in good old IOUSA!

One can disagree with the solution, but not the facts: the average person did not live to collect social security in 1938, hence the program’s solvency. Removing all caps, bring federal employees into the program, etc, the numbers just don’t work. We are financing close to 20 years of retirement. Social Security was never designed for that purpose. It is a pay as you go system and unsustainable as is.

Social Security Tax was forced on me back in the 1950 and I was never allowed to make a decision NOT to invest in it. Now I’m 65 and I deserve some of my own $ back. It was theft then. It is theft today. I would be satisfied if not ever being forced to pay into it again and allowed to keep what I earn. In fact, taxing personal income used to be unconstitutional. It should be that way today in favor of a national sales tax.

I am not one of the unemployed… Congress needs to be held accountable for the their failure to create a jobs bill and a jobs market.

extending Unemployment is not the answer however it what is needed. the Answer is to create jobs, which will take Congress to place hire taxes on any company that out sources jobs over seas, higher taxes on any funds leaving the US and higher tariffs on imports.

Until then we have to pay out unemployment for the failure of our leaders.

Support unemployment here, it is one of Change.org highest all time petitions.

http://www.change.org/petitions/view/the_99ers_need_a_tier_v_added_to_unemployment_benefits

heres the real catch our debt is not going to be 19.6 trillion dollars in 2015. for the year that close to accurate, but the real number and try to wrap your mind around this, the real number is $61 trillion. it is the national debt in the world. and yes its higher the greece. American people can quible over which president or political party spends more then the other. In reality they are all part of 1 federal government and thus they are all responsible. BTW The US currently has AAA credit, that is about to change as we are in the process of being drated. Meaning that our debt will cost more to pay back then it currently does.

Dems in charge of house senate Obama Pres budget increase=18%
Dems in charge of house and senate with Bush Pres average increase in budget = 9%
Repubs in charge of house and senate with Bush Pres average increase in budget = 7%
Repubs in charge of house and senate with Clinton Pres average increase in budget=2%
Dems in charge of house and senate with Clinton Pres average increase in budget=6%
Average budget increase since 1975=10%

http://www.treasurydirect.gov/govt/reports/pd/histdebt/histdebt_histo5.htm

Well, we are now forced to confront the truth; we must either cut entitlements, like Social Security or Medicare or Military benefits, etc., OR raise taxes/ impose fees. There are no other options. For too long we have listened to lying politicians tell us we can have whatever we want and not ever have to pay for it. Our wishes will be financed by “cuts”, well, we can’t cut anymore unless we take on entitlements. Remeber, there is no such thing as a free lunch. Projected social security obligations for existing retirees alone are about 45 trillion dollars. For the decade 2010-2019, Medicare is projected to cost 6.4 trillion dollars. Projected military benefits are in the trillions. So what do you want to cut? What do you want to pay higher taxes for? We dodged this problem for decades by taking money out of the Social Security fund and by keeping some costs like the conflicts in Iraq and Afghanistan, off budget, but we are cornered now. It’s up to us, what do you want; relatives without medicare or medicaid or a smaller military with fewer toys, fewer government services or higher taxes? That’s it folks, we’re stuck. What do you want to bet taxes go up or more
“fees” appear? After all, no one wants to loose their services.

The largest creditor of our National Debt is the Federal Reserve itself. Check it out. The money they create to pay federal bills (where there is a shortfall) is effectively counterfeit until paid back. In the meantime the real lenders, like social security, are vilified because they receive their monthly loan payments via Fed dollars under orders from Congress. But the Fed keeps minting fresh reserves to pay back all real lenders when taxes don’t do the job and, of course, this adds to the overall debt. Unfortunately, the popular anger towards the debt targets the real cash lenders and ignores the fact that printing money in lieu of raising taxes only makes matters worse. The irony is that this cycle is inescapable, it cannot be avoided for complicated reasons. The currency will ultimately collapse, it is inevitable, there is no other option. But when is not certain. This, only few will discuss but the flow of funds will continue as long as possible and so will the blame.

RachelC:

AMEN!

This country has gone downt he tubes yet Obama and his henchmen continue to grow the debt, stay silent on ecological disasters, particpate in a fine line between racketeering and Chicagoan politicas as usual, finger point and blame everyone else…and still we have ignorance among the masses still chanting “yes we can”! Give me a break! Wake up America! “Yes you can what?” Kick the right person’s #SS?! For someone who is so well spoken, Obama has no class.

More jobs would be created if small businesses, who create 98% of all jobs, could get access to credit to be able to create jobs like big business has access. Something is really amiss in the economy today. The free market of our Grandparent’s generation is gone…but what has replaced it?

Like Rachel C said, “Dear God, please, please, please…NO MORE SOCIALIST.

How did we get to this point?!?!?

As I watch our great nation become a euro-weenie-socialist-welfare-state I am starting to think two things that if anyone had mentioned to me even 10 years ago I would have thought most un-American.

1.) There should be some test given when one registers to vote. To pass it would require demonstration of at least a rudimentary understanding of how our government is organized and functions (ie. Knowing that the White House is NOT one of the houses of congress). We require people wanting to become citizens to pass such tests. Why should we think it ok for native citizens who know less to vote?
2.) Perhaps a little more controversial would be some link between paying Federal taxes and voting in Federal elections. If you and your household pay no federal taxes (and especially if you receive handouts and pay no federal taxes), if you pay into no federal programs (Social Security, Medicare, etc), and if you or an immediate family member are not part of the armed forces, what stake do you have in the federal government other than to vote yourself other peoples money?

Play your part in stimulating the economy. Stop buying imports and start buying Made in the USA. Those that complain about Obama but yet still buy imported goods are just hypocrites.

2000 …. $6 billion
2008 …. $10 billion
2010 …..$13 billion
2015 …..$19 billion ( if things go well)
2020 ….. owned by China

The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015

ratio of debt to the gross domestic product would rise to 102 percent by 2015 from 93 percent this year.

13.6T are to 92% GDP 15.0T in 2010
19.6T are to 102% GDP 19.2T in 2015
Implying
28% growth in 4.5 yeares or 5.3% yeare over year

Is Congress soooo NAIVE???
A real scenario with a 2% growth year over year is implying the U.S. DEBT WILL TOP 120% of GDP by 2015

It’s all the Democrats fault? How utterly ignorant. Anwser me this: How do you cut the deficit and create jobs? WAIT! Your not allowed to raise taxes or spend any money. Go! Oh really?!! Cut something. You on unemployment by any chance. I didn’t think you really meant it. I’m guessing since your a teapotter you would have said cut Health Care reform. Me being a basic human would say stop the war waste. Healthcare reform is not a WMD that doesn’t exist.

The socialist rancor is disingenuous to. Did these non-socialists gripe to their congressmen and senators when the previous facist administration took your liberties away with the Patriot Act? “The Patriot Act. Protecting your liberty by taking it away.” Get educated. You really think the last 500 days has put us in this position? hey Mr. Verizon, Mr. ATT; I know your reading this. Read this: I’m thinking of a gesture.

I really wish people would stop pointing fingers, saying Socialist this, Socialist that, calling Obama a clown or Bush a monkey. Stop blaming the Right. Stop blaming the left.

Stop blaming White People. Stop blaming Black People.

..and stop blaming the Mexicans.

This debt has followed us for years…..

Stop bitching and help fix the economy.

“Anwser me this: How do you cut the deficit and create jobs?”

It’s not the governments role to ‘Create Jobs’. It’s their role to create an environment where COMMERCE can create jobs. As with any other individual, organization or entity, It SHOULD BE their job not to spend more than they make, thus cutting the deficit.

sesails, get yourself a dictionary and figure out that “liberal left” is not a Siamese twin word. I am liberal, socially, but I’m for darned sure not leftist, and I am getting sick and tired of that. How about him I call you a conservative Nazi — since you mean “leftist” with every bit as much prejudice as “Nazi” carries with it? You wouldn’t like it — and I wouldn’t blame you. We can be liberal and conservative and still have a lot of common interests (as I hope we do) and talk it over. I don’t claim to have all the answers, so am open to ideas from ANY quarter. I hope your mind’s open, too, okay?

RachelC . . . well, I hardly know where to start. President Obama is neither a socialist nor a communist. Neither is he the Nazi (!) I’ve read a few people accusing him of being.

Socialism is, in traditional political theory and constructs, a transition phase from capitalism to communism. While there are quite a few variants of the idea of socialism, they all rotate around around worker or public ownership of the means of production, property, etc. (That’s an oversimplification, but it’ll do here.) In communism — theoretically, though there’s never been a true communist state nor is there now — there’s a classless society in which everyone has equal ownership and influence. (We see how that worked out in places like the Soviet Union, China, and their imitators.)

People who believe the President to be socialist/communist point to the bank and Detroit bailouts. While I don’t think here is the place to get off on a tangent about the question whether those actions were “good” or “bad,” it is germane to consider whether in bailing those organizations out, we’ve gone at least socialist.

Short answer? — no. A fair question back is “why isn’t it socialism?”

Well, for starters, in socialism we’re talking about worker/public ownership of everything (eventually), not just individual companies and banks. Secondly, those folks bailed out have the opportunity to repay the American taxpayer and return to private status again — an impossibility in a socialist system, at least in a pure one, if you still think of Russia and China as “socialist.” Actually, neither of those countries is even remotely socialist these days. That doesn’t mean they’re American-style capitalist; they’re not. They engage in “statist capitalism,” a sort of top-down command of a capitalistic system (of sorts) in which some private ownership, class distinctions, etc. are allowed.

It’s easy to get this stuff mixed up. I don’t claim to be any expert, though being from the US but also having lived abroad many years in Asia — including several in China plus several more in Macau but while it still belonged to Portugal, not China — I’ve lived under various systems. (I currently live in Thailand, which is closer to American-style capitalism than China by a long shot — but like late 19th-century/early 20th-century American capitalism, not the way we perceive it today. You know — we still argue about whether the Rockefellers, Carnagies, etc. were Industrial Statesmen or Robber Barons.)

President Obama’s politics well may not be to your liking, as it’s clear they’re not — and I have no problem with that. We’re Americans, and we’re entitled to our views. But please fight him over his actual politics, not what someone has told you. And that includes me. Look up the terms, Read a little history. Talk to a spectrum of people whose views differ, especially those further away from the middle. Then contemplate all you’ve drawn together, and hold up what President Obama does and compare — and contrast — them. You might be surprised.

And let me make another point about these charges of socialism.” Social Security and related programs (Medicare, etc.) and agricultural subsidies are arguably our two biggest b=]programs that are, if not out-and-out socialist (which they aren’t), they skate pretty far in that direction, especially agricultural subsidies. Why do we pay a farmer to plow a crop under, or not plant in the first place, or buy his wheat and haul it out into the Atlantic to dump, as we did in the Great Depression, for instance? (I mean hauling it out to sea then.) We did it to buoy up the prices for crops, so everyone could still make a living, if not necessarily exactly a living in a manor sort of lifestyle. See the connection? — so “everyone could still make a living”? — otherwise phrased as “the common good”? “The common good” is straight out of a socialist hymnal. It’s paying someone NOT for his work, but for his [perceived] need.

I grew up on a ranch in Texas, by the way, so I’m hardly anti-agriculture, though I elected to go off into university teaching instead of struggling on a tiny ranch that couldn’t make me a living, even if I were the cowboy type, which I’m most decidedly not. (Been on a horseback once in 40 years — and that was 15 years ago!)

I hope I’ve given you something of some small use, even a wee bit of value, to you. At least, I hope, I’ve shown it’s possible for us to disagree, on the one hand, and still engage in truly *civil* discourse in our national conversation without shouting at each other and launching personal attacks.

Just to give myself a bit of the air of “Who was that masked man?” you might be interested to know that yes, I defend President Obama, as I;ve done here. Much of the time, when I’m not defending President Obama, I find myself defending President Bush (# 2). You see, I don’t vote party, I vote person. And in my nearly 40 years of being eligible to vote, I’ve voted for many more Republicans than I have Democrats, though I’ve voted for some Democrats, too And the odd third-party candidate here and there.

Well looks like a few folks woke up! We are about to have a Marxist takeover of America. Vote in Nov. for Christians that believe in the constitution as our forfathers wrote it! Take our country back from Pagans.

First: the amount in the title doesn’t match the amount in the last sentence of the article. 19.6 vs. 14 trillion

Second: the article does a disservice, in my opinion, by not highlighting the ratio of debt to GSP. Absolute terms are scarier, but don’t matter nearly as much as projections of ratios. In this respect, the article is a bit confusing since it mentions 102 and 73 percent as the figure for the ratio when 2015 rolls around.

Third (and last): for all the posters railing against the government — grow the f#$% up and think for yourself. These numbers are but a snapshot in time, and we have the power to change them. We, households and government, can live within our means and reduce the ratio of debt to production (GDP). This article, as written at the time I’m writing this, includes sentences at the start and finish that provide ammunition for arguments for either side of the debate. For all those that chose to decry government action, think why that is — and then decide if it wasn’t someone else thinking for you, or if it was the result of your analysis of the article as presented. I suspect that the knee jerk reactions were because others thought for you.

It is easy to repeat what you hear from others, it is harder to think for yourself.

Reduce debt at every level — personal and public. And hold people accountable for their actions and their logic in making their decisions.

In case it changes, here is the first sentence: “The report that was sent to lawmakers Friday night with no fanfare said the ratio of debt to the gross domestic product would rise to 102 percent by 2015 from 93 percent this year.”

and here is the last one: ”
More Reuters Results for:
“”

* Most Popular
* Most Shared

1. U.S debt to rise to $19.6 trillion by 2015
08 Jun 2010
2. U.N. council hits defiant Iran with new sanctions | Video
3:46pm EDT
3. Florida Ponzi mastermind gets 50-year sentence
1:33pm EDT
4. BP shares slammed as Gulf oil spill probed | Video
3:36pm EDT
5. Google protests Apple’s iPhone developers agreement
2:44pm EDT
6. WRAPUP 8-BP shares slammed as U.S. probes oil spill
3:34pm EDT
7. Analysis: U.N. rebukes of Israel permitted in U.S. policy shift
08 Jun 2010
8. Sprint says it overstated EVO launch day sales
12:48am EDT
9. Waiter, there’s a potential carcinogen in my soup
10:26am EDT
10. Hacked iPhone Runs Android 2.2
08 Jun 2010

1. U.S debt to rise to $19.6 trillion by 2015
08 Jun 2010
2. Waiter, there’s a potential carcinogen in my soup
10:26am EDT
3. Analysis: U.N. rebukes of Israel permitted in U.S. policy shift
08 Jun 2010
4. Secondhand smoke may harm mental health
08 Jun 2010
5. BP buys Google ads for search term “oil spill”
3:02pm EDT
6. Hulu plans to charge, expand to devices: sources
08 Jun 2010
7. Florida Ponzi mastermind gets 50-year sentence
1:33pm EDT
8. Yahoo users to gain more access to Facebook
06 Jun 2010
9. U.N. council hits defiant Iran with new sanctions | Video
3:46pm EDT
10. Circumcision may prevent sex-related penis injuries
04 Jun 2010

U.S debt to rise to $19.6 trillion by 2015
WASHINGTON
Tue Jun 8, 2010 6:19pm EDT

WASHINGTON June 8 (Reuters) – The U.S. debt will top $13.6 trillion this year and climb to an estimated $19.6 trillion by 2015, according to a Treasury Department report to Congress.

Bonds | Global Markets

The report that was sent to lawmakers Friday night with no fanfare said the ratio of debt to the gross domestic product would rise to 102 percent by 2015 from 93 percent this year.

“The president’s economic experts say a 1 percent increase in GDP can create almost 1 million jobs, and that 1 percent is what experts think we are losing because of the debt’s massive drag on our economy,” said Republican Representative Dave Camp, who publicized the report.

He was referring to recent testimony by University of Maryland Professor Carmen Reinhart to the bipartisan fiscal commission, which was created by President Barack Obama to recommend ways to reduce the deficit, which said debt topping 90 percent of GDP could slow economic growth.

The U.S. debt has grown rapidly with the economic downturn and government spending for the Wall Street bailout, the wars in Afghanistan and Iraq and the economic stimulus. The rising debt is contributing to voter unrest ahead of the November congressional elections in which Republicans hope to regain control of Congress.

The total U.S. debt includes obligations to the Social Security retirement program and other government trust funds. The amount of debt held by investors, which include China and other countries as well as individuals and pension funds, will rise to an estimated $9.1 trillion this year from $7.5 trillion last year.

By 2015 the net public debt will rise to an estimated $14 trillion, with a ratio to GDP of 73 percent, the Treasury report said.”

Decide for yourselves.

This is stupid. We can’t keep paying for their mistakes.

All this as Obama spends 10 MILLION DOLLARS on WHITE HOUSE PARTIES in 2009 alone. Time to raise taxes I guess….

Yes, Donna Smith speaks of a National Debt of $19.6 trillion by 2015, right? In her article she indicates that the above mentioned amount includes obligations to the Social Security Retirement and other government trusts funds, right she does? However I have in frot of me an article entitled: Federal U.S. Debt Has Ballooned to Over $100 Trillion, whose author is J. S. Kim and published in Seeking Alpha. Mr. Kim quotes for his infomation Mr. Richard W. Fisher, the president and CEO of the Federal Reserve Bank of Dallas. So, who am I to believe? Not only me, but in reality does the whole Nation not deserve to know the real truth and not some figures concacted here and there, by various individudals? Townhall publication once spoke of around $53 trillion as being the true Nationl Debt. So, what goes in this so called Democracy?

what is the number after trillion? this maybe newsworthy! can i expect the lazy computer savvy SOPS of future generations to care about this?

when does the USA standard of living become like a third world country?

this is inconceivable- what is the actual debt load in percentages?

bloody idiots- they have been talking about this for twenty years, and it continues to get swept aside.

Not to worry… They’ll just tell the Fed to kick the printers into overdrive ;)

what number comes after a TRILLION?

If you’re among the super-rich and powerful, it’s all proceeding beautifully. The solution to the inevitable bankruptcy of Europe and the USA will be a one-world currency and one-world government. In the meantime, if you think it matters who we elect to the Presidency or Senate, you’re mistaken. Prepare for autocratic rule and serfdom, which most of us will see unfold in our lifetimes.

As a non-American it is depressing to see that so many Americans can’t get past partisan point scoring. The reality is that both parties have overspent.

People blather on about Democrat vs Republican and Liberal vs Conservative like it makes a difference.
Until the power to control the money supply is returned to the US Treasury from the Bank owned Federal Reserve everything else is just a diversion.
Do people understand that?
It seems that most people on here don’t have a clue.
I’m starting to think Americans don’t deserve Ron Paul.
The fact that the man exists and hasn’t been assassinated yet is the closest thing I’ve ever seen to a miracle.

Who know whose fault this is? Americans. For some reason we believe that if we keep on electing Democrats who don’t care about us and Republicans who don’t care about us that something will get done. All the two party system does is keep the rich in power while negating anyone who has an idea outside of what is mainstream. The thing is no problem ever gets solved if you keep on trying to fix it in the same broken way. I’m sad to say that I am an American becaue I look around at all these idiots who are too stuck in their ways to try something different that actually might solve something. Every great empire has fallen because they didn’t read the writing on the wall until it was too late. Guess what, its too late. So forget about helping your neighbor (because most of you would just watch them burn alive if their house was on fire anyways) milk the system as much as you can and move to a different country, you know, one where they have figured out holding the same foreign and domestic policies for 60 plus years doesn’t work.

I’m going to teach my ass to speak Chinese since it will be owned by them very soon…

Hi from Canada over here, heh guess this is meddling but is it possible for you all to do anything but point fingers at each other and rack up the government spending and become angry at taxes?

This government should only be socialist, then it would put the needs of the people first. No, from the war in Iraq to the bailout of the banks, this country has served the interests of the capitalist class and the needs of capitalist corporations by sacrificing the homes, jobs, health and security of American citizens. If anyone thinks that Republicans have another agenda they are not seeing things correctly. Our government supports a system that inherently functions in the interests of corporations and note the average citizens
and as crises occur and bubbles burst, well, the government spends money to make things better because the choice would be….ummmm…..let me think…..socialisation.

I do not think we will make it to November. They know they are going to lose the congressional control in November. I do not think they will let that happen. They have already left our borders unsecured after a terrorists attack on our soil. I have no doubt there are terrorists that are already here and are waiting to strike in the US already. They have put us all at risk.

Luke1328, did you not know the Jefferson rewrote the new testament removing everything supernatural from the stories and leaving simply the message of Christ? Our forefathers, including Jefferson, wrote our constitution to seperate church and state so as to limit the influence relegion has on politics. And to call people who are not christian “pagan” shows some really frightening undertones of crusades, inquisitions, and genocide. Christ taught a message of the golden rule, which many christians seem to have forgotten.

I don’t the Democrats or the Republicans.They both spend way to much.

How do I do it. I’m in debt up to my eyeballs. Lol.

Now you want to blame Obama. Who you gonna blame for the 5 billion a month plan killing kids in Iarq over a lie?

The McLaughlin Group last week stated only 47% of the people pay any income taxes. 60% take in more than they pay out to the gov’t. It’s a bleeping joke. The scoundrels in Congress do more harm than good.

porkinsone, your comments defend themselves well against being read. I must say though, you have encapsulated the entire right wing fear agenda I recomend that everyone read the 6:01am comment. You can watch western civilization begin to crumble before your very eyes. Fear and hate, fear and hate. This anti American ideology is one of the best examples of constitutional degradation that I’ve ever seen. America was not built on fear and hate. It was built on courage and love for mankind. It’s never been easy. I don’t give a damn what you people say. I’m not afraid of the future, I’m not going to hate people because of the color of their skin, or the language they use or the god they beleive in. People are the answer to all the ills of America..the more the merrier. Now scurry off with the rest of the cockroaches and let the real men through…you know, the ones that are here to build and grow and provide for their families. You talk about Nazi’s! Pick up a history book for cryin out loud. The Germans went down your road so far that in the end they were euthanizing people because of the shape of their ears! And they got the idea from America! We have the dangerous right to free thinking because ideologies like that must be analyzed. My advice to you is to vet your facts as best you can and don’t listen people who want you to be afraid unless they can present valid facts. You beleive in things that you don’t understand and then you suffer.

I noticed the Author didn’t mention the Fat Omnibus Budger, the useless stimilus package, and the record breaking growth in Govt Employees, pay raises and Union benefits as the main reason the Debt has increased so much since 2009.

It really pains me to see all of the misguided, hateful comments posted by uninformed readers. Someone posted that the Obama administration raised the national debt to GDP by 20-30%. That’s a flat out falsehood. The facts are this: Reagan’s administration took our debt to GDP from roughly 30% to roughly 70%. Clinton reduced the debt to GDP to roughly 50%. George W. Bush’s administration and policies saw the debt to GDP skyrocket to more than 80%. These are the facts. Voo-Doo economics and union busting coupled with the greedy, entitled Baby Boomer attitudes drove this country to where it is.

Here’s a previous reuters article that might be of interest…unfortunately congress has been providing tax payer monies for decades for bailouts to foreign countries to the IMF and World Bank.

http://www.reuters.com/article/idUSN222700420090422

Most of these loans are never paid back…if you add it all up it greatly exceeds the numbers above. The result is that Americans have been ignorantly bliss about this for too long. The end result is the dollar becomes more worthless with every bailout…before to long we will have to borrow from the IMF…

PS…China has received many loans from the IMF at 0% interest…hey gotta go…need something from Walmart.

Obama’s policies are partly to blame for the growing debt, yes, but the financial crisis was not caused by Obama, and it is the crisis along with the huge costs of the wars that have grown the debt and will continue to grow the debt. If you compare the costs of healthcare to those of the war and fixing the financial crisis, it’s like comparing peanuts to a lobster meal. But we all know, ideology trumps logic for Republicans.

I find their math very fuzzy.

No money but give borrwing money to every country in the world. It is stupied America