Debt ceiling lifted 900 more billion.
- Thread starter NoDrama
- Start date
olylifter420
Well-Known Member
so is the country going to continue just like it has?
no interruptions in student financial aid and other things?
what are your thoughts about this plan?
no interruptions in student financial aid and other things?
what are your thoughts about this plan?
BendBrewer
Well-Known Member
The money was spent a long time ago. All the things that Bush and his congress passed like his 2 wars, his 2 tax cuts, Medicare Prescription. All these things were passed under Republican leadership and added 3.5 trillion to our debt. Those bills are coming in and exceeded our limit. We had to raise the ceiling to pay our bills not go shopping. Wars and Tax Cuts are expensive.
olylifter420
Well-Known Member
Farfenugen
Well-Known Member
So long to social security folks, spend it while you can cuz in 5 years the dollar ain't gonna be worth much more than 40 cents.
Sell-offs are going to occur. Increasing the limit just fucks up everyone even more in the long run.
I know, let's subsidize home ownership for the low income bracket and bail out the mortgage companies when the foreclosures hit... oh, wait, that's already happened.
Sell-offs are going to occur. Increasing the limit just fucks up everyone even more in the long run.
I know, let's subsidize home ownership for the low income bracket and bail out the mortgage companies when the foreclosures hit... oh, wait, that's already happened.
Dubbz0r
Well-Known Member
Indeed it has. I fell victim to this recently and have 2 weeks left in my home that is now owned by a bank. They offered me a loan modification which reduced my monthly payment by $40 a month. Wow thanks for the great program to help me save my home. My house is worth 1/3 of what I originally paid for it 4 years ago. They can have the fucking house.
BendBrewer
Well-Known Member
I'll start worrying about the value of the dollar when those people who have all the dollars stop trying to get more. I say let the dollar crash. Level the playing field. Crash the dollar and everyone starts with nothing. Go! I bet I win.
mame
Well-Known Member
This is misleading, because Obama isn't actually responsible for the vast majority of this spending; The stimulus bill, for example, will be completely off the books in only a couple years with most of it being paid of this fiscal year (if I remember right it's a big downpayment on this fiscal year and then two small ones in the next two years)... Most of the deficit is brought on by the recession and policies that were in place before Obama was president.
@OP, It's sad the debt ceiling wasn't raised further... such a small amount of wiggle room and political planning(Obama doesn't want to revisit the debt ceiling debate before elections) will ensure that there is no stimulus until after the 2012 elections at the very least.
Mr Neutron
Well-Known Member
It NEVER is enough, is it? The best stimulus would be for the government to get out of the way and stop trying to manipulate everything. But you know they are not going to do that because that would mean we would gain back more control over our own lives.
Do you spend more than you earn?
ChronicClouds
Active Member
Level the dollar, let it crash and USA WILL BE A 3RD WORLD COUNTRY OVERNIGHT! How many of us are truly ready for that?? Think gas is expensive now?? Anybody see the correlation between oil being purchased in $dollars$ and us with cheaper gas than most (like 80%+) countries? The problem isn't just Bush (lil shrub) or Obama (marketing ploy) it's combination of all politicians and Presidents for at least the last 20 yrs. We need to abolish the Federal Reserve this isn't even a gov't entity it's privately owned and we the people get charged interest on our own money. Plus you would think if you spend less and save we could actually pay of our debts! Watch gold sky rocket as the stock market (corrupt ponzi scheme) plummets and then we can see this 'recession' or double dip as it really is...A DEPRESSION. 22.9% of the adult population in the USA is unemployed. The 9% the media feeds you is how many people are on unemployment receiving benefits from the federal govt.
BendBrewer
Well-Known Member
Like tax cuts right? Never enough.......
Do you earn less than you spend? Did you take a massive pay cut like the Feds did in the terms of tax cuts?
It's a 2 way street. As the President has said all along, cut spending and increase revenue. Both must be done but the hard heads can't seem to understand this. Historically low tax rates with historically high spending and debt. Gee, doesn't take a fucking economist to realize what needs to be done. Cut spending and raise taxes. It's that simple. Americans have turned into spoiled brats that think they don't have to pay for anything. Just think what you grandparents sacrificced for this country and then look at how pathetic your lazy ass is.
Pay your taxes and stop crying about it. You are an embarrassment to all Americans before you.
ChronicClouds
Active Member
This debt plan will only put off the inevitable....our impending default. It will put us further into debt and just make it worse in the long run when shit finally hits the fan. China says we've already defaulted and the govt hasnt even taken into account the derivatives or the fact that they wont be able to pay out all the bonds taken against them.
Farfenugen
Well-Known Member
Gold is peaked. When gold floods the market because paper money and certificates aren't worth anything, gold will take a dive.
Revolutions happen. Look at Greece. But a lot could be said about ploys and false scenarios made up to look as if the shit is about to hit the fan.
Who really benefits? And who suffers?
Revolutions happen. Look at Greece. But a lot could be said about ploys and false scenarios made up to look as if the shit is about to hit the fan.
Who really benefits? And who suffers?
SativAHHH
Active Member
bush did a sloppy job as president and managing finances, wars are expensive, however, nearly every president has raised the debt ceiling, bush Sr raised it like 15 times, maybe im mistaken on the president, but regardless, 900 billion isnt enough , but it gets us out of deep sh*t for a minute until a new plan can be achieved, nothign will get done until they can get along for the common good, all it turns out to be is bickering, and shady back door deals and handshakes...
ChronicClouds
Active Member
Taxing us more isn't going to help either. The income tax we pay goes to the interest we owe on the dollar. 100% profit for the Federal Reserve not the US govt. So Abolish the federal reserve and install a flat tax. Tariff goods and stop the Military Industrial Complex, and tax huge corporations making billions every year rightfully so. after all they made their money on the backs of their new economic slaves.
Farfenugen
Well-Known Member
Personally I think the apes should take over. Let's give some other species a turn at running this world.
Maybe they'd do a better job at it than us, and we can all run around in loin cloths, foraging for grubs and fucking anything that moves.
Maybe they'd do a better job at it than us, and we can all run around in loin cloths, foraging for grubs and fucking anything that moves.
ChronicClouds
Active Member
they're already in control every last one of them and its already fucked!
mame
Well-Known Member
Not over the long term, but I'm not advocating for that.
Over the short term, if I find myself in a financial bind I have the option to borrow (responsibly, I might add...). I often put large purchases on my credit card and pay them off over a couple of months, etc...
In the case of the U.S. government spending to full employment will actually help better the long term fiscal situation by minimizing lost human capital (and hence, revenues).
Mr Neutron
Well-Known Member
Income tax? That's right. Not until they get back the REAL historic lows of 0.
Yes
Yes. But I am not borrowing to maintain a lifestyle that I cannot afford. I did what I had to, to survive, it's called sacrifice.
Lower than 0?
What congress is passing today does neither but you're not pitching your hissy fit because they didn't cut spending, you're pissed because they didn't vote to STEAL more private property.
Yeah, it is, so why don't YOU get it?
Some have, like you, who want everybody else to give up their property to support your socialist utopia. If you want a Big Brother police state, then YOU pay for it.
It makes me sick what people like you have done to the legacy of those who died for this country. Yet, look at how your weak excuse for an argument, you can't debate like an adult, you resort to attempted intimidation and insults. Tsc, tsc, tsc... you're in need of some anger management therapy.
In other words, put your hands up and give me everything you have. You saying I'm an embarrassment to America is a compliment, thank you. At least I believe in America. I believe in what it stood for when it was founded. I'm not trying to change it into some socialist utopia.