America's Debt Crisis


GilbertW
#1
It is amazing to hear all the talk about the $3.6 trillion budget that President Obama has signed for the next fiscal year. In the 8 years during which the foundation for such budgets was firmly set in place, we didn't hear a peep out of anyone. On January 20, 2009, the day Obama was sworn in, there was a National debt of $10.6 trillion and change. That is $10,600,000,000,000 + change. That figure, awesome as it may be, fails to tell the whole story. This debt was acquired during an era when interest rates were roughly 5%, and much of it with 30-year maturities. The portion that was shorter term would, at any rate, have to be rolled-over in order to keep funding the "Bush Tax Cuts," "The Iraq War," "The War in Afghanistan," "Support for Israel," and a number of other wasteful items. You have to figure $10 trillion x .05 = $50,000,000,000/year x 30 years = $1.5 trillion in debt-service maintenance. And the wars are still not over, neither are the Bush Tax Cuts... Question: "How the hell did the party in power at the time think they were going to pay for all of this?" This is typical of the "silver-spoon" born spoiled brats who must have their way or else. Add to this the fact that most of our jobs were exported, the result of deals made between foreign interests and the *****s of Washington. They sold-out their own country for a few pieces of silver. Now they cry about the size of the annual deficit, the first half of which by the way {$1.3 trillion} is an inheritance from the Bush years. A whole host of things need to be done to straighten this problem out, but the neo-cons will never agree to any of them. i.e., Cut the military budget... After all, we are the baddest dudes on the block, right? O.K. So we can make do with the weapons we already have. Israel? With friends like that, you don't need enemies. Israel has cost us trillions of dollars in aid, in lost opportunity, and in defending against those who would otherwise be our friends... those who never meant us any harm in the first place. Why do we need 700 military basis around the world? What good are they doing us? Lets reduce the size of government for real. Close down those military basis. Let the private sector handle business in those places. After all, they know everything, right? So why do they need government military resources? The military spending accounts for half of our national budget. If God really did choose Israel for something... then let Him back Israel. Cut off aid to Israel. Lets do righteous business with Israel's neighbors. Israel must be responsible for their own affairs. Once we've cut back on some of these excesses, our budget should be less than half what it is now. Let's economize in earnest.
 
darkbeaver
#2
Right Gilbert now all you got to do is replace Obamas Israeli administration. The horse has already left the barn though, at least you'll still have a barn.
 
EagleSmack
#3
Wow...that was his first post!
 
darkbeaver
#4
Good post too. He seems to be literate. ES that means he can read. haha
 
AnnaG
#5
Paragraphs are always nice. Not using them dissuades a lot of people from reading what you have to say.
 
countryboy
#6
Quote: Originally Posted by AnnaG View Post

Paragraphs are always nice. Not using them dissuades a lot of people from reading what you have to say.

I think someone I know would refer to it as "foaming at the mouth" although that only applies to people of selected political stripe, apparently. I usually like to write like I talk, and I think I'd be out of breath if I had to recite that first (and only) paragraph in the OP.
 
YukonJack
#7
I agree with AnnaG:

"Paragraphs are always nice. Not using them dissuades a lot of people from reading what you have to say."

Anytime I see a post of more than five lines, without a paragraph, I skip to the next one.
 
eh1eh
#8
You guys are haters. He used paragraphs. Just one mind you but it's there.
 
EagleSmack
#9
Quote: Originally Posted by darkbeaver View Post

Good post too. He seems to be literate. ES that means he can read. haha

Plus he hates the Jewish people too so he must be A-OK in your book!
 
SirJosephPorter
#10
There is no appetite to reduce the size of the government, GilbertW. Democrats are in power, the budget deficit is sky high. If Republicans come to power, the deficit will, if anything, become worse.

Republicans have only one solution to any economic problem, and that is tax cut (and usually their tax cuts favour the rich). Tax cuts will simply shoot the deficit even higher.

What USA needs is another Clinton (or a Paul Martin). But Clintons or Martins are scarce on the ground. They were giants, what we have today is pygmies. There is no will to reduce the deficit, on the part of either party.

Besides, suppose one party came up with a proposal to reduce deficit, what do you think will happen? It will be ripped to pieces, the other parity will filibuster the proposal (simply because it came from the other side) and the side which proposed cutting spending will pay dearly in the polls.

Personally, I don’t see a solution to the debt and deficit problem of USA. I know it sounds harsh and cruel to say so, but chances are that USA will continue sinking slowly in its debt and its deficit.
 
Liberalman
#11
America will do what other countries are doing which is defaulting on ther loans and eventually they will start paying it again when times are better.

America has been bailing out other countries for years now it is time for America to be bailed out by foriegn countries
 
lone wolf
#12
Quote: Originally Posted by Liberalman View Post

America will do what other countries are doing which is defaulting on ther loans and eventually they will start paying it again when times are better.

America has been bailing out other countries for years now it is time for America to be bailed out by foriegn countries

After seeing how the money handlers handle money, maybe it's time for average Joe to start kicking some too-pampered ass first.
 
TenPenny
#13
Quote: Originally Posted by YukonJack View Post

Anytime I see a post of more than five lines, without a paragraph, I skip to the next one.

Yeah, my 5 year old daughter is the same way.
 
MHz
#14
Quote: Originally Posted by EagleSmack View Post

Wow...that was his first post!

Is that why you are being so nice? Usually this quote would have had you in a lather, " Cut off aid to Israe l", and you were seen humping the Baptist Church leg in another thread.
Isn't this a 'looming debt crisis'? The crisis is when the credit card gets eaten by the banks machine. It is only America's crisis, the world will keep on truckin (literally) the way it always has, just a change in drivers, or is that mule-teams?
 
MHz
#15
Quote: Originally Posted by TenPenny View Post

Yeah, my 5 year old daughter is the same way.

Try taking a breath lol. Please don't say it is because of your attention span 'condition'.
 
MHz
#16
Quote: Originally Posted by Liberalman View Post

America will do what other countries are doing which is defaulting on ther loans and eventually they will start paying it again when times are better.

America has been bailing out other countries for years now it is time for America to be bailed out by foriegn countries

But her debt has been growing faster than what has been spent on all the aid.

The economy would have tanked much sooner if US products weren't used in many of the war reconstructions that seem to follow her around.

What better time, a World War $$$$ is the only event that could help her now.
 
Bar Sinister
#17
There seems to be a great deal of concern over US aid to Israel in this post; almost as if that aid was the biggest problem so far as the US debt is concerned. However, it is interesting to note that US aid to Israel over the last 60 years amounts to just 113 billion - a tiny fraction of the modern debt. Aid to Israel could be eliminated entirely without making a real dent in the US deficit.

Congress Watch | A Conservative Estimate of Total Direct U.S. Aid to Israel: Almost $114 Billion
 
MHz
#18
$113 B is chicken feed, gather up the loot from the 10 largest Banks in the world and you walk away with more than $700 T ....... not enough? ..... how about $800 T?
 
JLM
#19
Quote: Originally Posted by MHz View Post

$113 B is chicken feed, gather up the loot from the 10 largest Banks in the world and you walk away with more than $700 T ....... not enough? ..... how about $800 T?

I would think if things get too tough they may have to run an afternoon shift at the mint.
 

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