$ 1 0 , 6 1 2 , 1 4 1 , 0 7 7 , 5 1 2 . 8 3

[Toro]

Let's take a moment to thank all the politicians who voted for the various taxpayer-funded bail-outs...

And also all the politicians who wisely voted for tax cuts while increasing spending during an economic expansion as well.

 

[Toro]

Don't Forget Obama promises a Trillion dollar deficit every year for the foreseeable future. That would be 8 trillion in 8 years assuming he gets reelected and doesn't ask for even more.

The deficit will approach a trillion dollars annualized even before the Democrats control everything in Washington.

That's what happens when one party controls everything in Washington. We've had one brain-dead bunch of no-mind ideologues running everything in DC, now we get another, with similar results I'd imagine.

 

[AmericaFirst]

"Watch money. Money is the barometer of a society's virtue. When you see that trading is done, not by consent, but by compulsion -- when you see that in order to produce, you need to obtain permission from men who produce nothing -- when you see that money is flowing to those who deal, not in goods, but in favors -- when you see that men get richer by graft and by pull than by work, and your laws don't protect you against them, but protect them against you -- when you see corruption being rewarded and honesty becoming a self-sacrifice -- you may know that your society is doomed." … Something to Reflect On: Ayn Rand -- circa 1959

 

[Toro]

For frame of reference

 

[candycorn]

That is the national debt, as of today.

Add to that the projected deficit of, oh, say maybe a trillion dollars for this year.

And, add in the $825 billion that Congress and the new pres wants to spend to restart the economy,

And, eventually, we'll be talking about some real money.

Right now, your share of the debt is only a measly $34,740.13, just pocket change to us rich Americans, right? That's a mere $138,960.52 for a family of four. Why, all we have to do is not buy that new Lexus LS 450, and we can save half of that amount, maybe more. We can get along with last year's model for a while longer, can't we?


Let's keep borrowing and spending. Maybe we'll get the economy back on track without making any sacrifices.

Or, maybe not.

Ahhh, the good old days.

 

[LordBrownTrout]

1-22-2013:

16,448,843,786,469.

 

[asterism]

1-22-2013:

16,448,843,786,469.

And not a dip in the unemployment rate.

 

[Duped]

I always laughed at what Dennis Miller said about the Natinal Debt

"deficit" lol Do we actually owe someone this money? Just don't pay them...fuck em.


lol

Fail to pay and no more loans, no more money to run the Government.

We should be the ones lending, not borrowing. We need to live within our means period!

 

[Londoner]

When Reagan tripled Carter's debt and raised the debt ceiling twice, we didn't hear a peep.

When Bush turned the Clinton surplus into the largest deficit this country had seen to that date, we didn't hear a peep.

Republican voters - who are controlled by the Limbaugh/FOX Machine - are trained only to worry about the debt when a Democrat is in office. But, when their party is in office, they show no concern for spending, waste and debt.

The Reagan recovery in 1983 saw a massive increase in Government jobs. They did it brilliantly. They pumped the states full of money so they could boost employment numbers and add consumers to the economy. Obama, on the other hand, has been forced to give the states the largest haircut they've ever taken.

Reagan got out of recessions the way we used to get out of recessions: by have government jump start the economy.

By this stage in the Reagan recovery, government employment had risen by 3.1 percent; this time around, it’s down by 2.7 percent.

Next, look at government purchases of goods and services (as distinct from transfers to individuals, like unemployment benefits). Adjusted for inflation, by this stage of the Reagan recovery, such purchases had risen by 11.6 percent; this time, they’re down by 2.6 percent.

And the gap persists even when you do include transfers, some of which have stayed high precisely because unemployment is still so high. Adjusted for inflation, Reagan-era spending rose 10.2 percent in the first 10 quarters of recovery, Obama-era spending only 2.6 percent.

The problem with the Republican voter is that he is controlled by the Republican party. Therefore, he doesn't even know history. He has literally not been told what GOP Presidents have spent. When a GOP President is in office, the Republican voter is literally conditioned to protect him like a queen bee. The problem with American Debt is not that the Democrats like to spend, it's that the Republican Voter doesn't know how much his party likes to spend. It took people more than a decade to start admitting how much Reagan spent over Carter. Some Republicans still don't fully know the Reagan record on debt and deficits.

 

[candycorn]

Both parties are out to lunch fiscally. Congress spent every penny of the money. 1/2 of Congress is controlled by the GOP and they can filibuster the 1/2 they don't overtly control. Wise the hell up losers.

 

[JimH52]

Was there even a whisper among the Repubs when W raised it a record 18 times? Naw, it was "Deficits don't matter." then...

 

[g5000]

Both parties are out to lunch fiscally. Congress spent every penny of the money. 1/2 of Congress is controlled by the GOP and they can filibuster the 1/2 they don't overtly control. Wise the hell up losers.

"Both parties are out to lunch fiscally."

No one will ever speak truer words on this forum.

 

[g5000]

That is the national debt, as of today.

Add to that the projected deficit of, oh, say maybe a trillion dollars for this year.

And, add in the $825 billion that Congress and the new pres wants to spend to restart the economy,

And, eventually, we'll be talking about some real money.

Right now, your share of the debt is only a measly $34,740.13, just pocket change to us rich Americans, right? That's a mere $138,960.52 for a family of four. Why, all we have to do is not buy that new Lexus LS 450, and we can save half of that amount, maybe more. We can get along with last year's model for a while longer, can't we?


Let's keep borrowing and spending. Maybe we'll get the economy back on track without making any sacrifices.

Or, maybe not.

Ahhh, the good old days.

Yep. The good old days, when it was no big deal if one President doubled the national debt.

 

[JimH52]

Let's take a moment to thank all the politicians who voted for the various taxpayer-funded bail-outs...

And also all the politicians who wisely voted for tax cuts while increasing spending during an economic expansion as well.

And for the two wars fought with a credit card, while giving a huge tax cut to the affluent. That was a classic W move. We will be paying for the recovering alcoholic's folly for decades to come.

 

[asterism]

Let's take a moment to thank all the politicians who voted for the various taxpayer-funded bail-outs...

And also all the politicians who wisely voted for tax cuts while increasing spending during an economic expansion as well.

And for the two wars fought with a credit card, while giving a huge tax cut to the affluent. That was a classic W move. We will be paying for the recovering alcoholic's folly for decades to come.

So it was the tax cut to the affluent that cost so much?

Assuming a static model of the economy, how much in additional tax revenues would have been collected if the current tax rates were applied then?

 

[candycorn]

Both parties are out to lunch fiscally. Congress spent every penny of the money. 1/2 of Congress is controlled by the GOP and they can filibuster the 1/2 they don't overtly control. Wise the hell up losers.

"Both parties are out to lunch fiscally."

No one will ever speak truer words on this forum.

Why thank you. Which is why I was so tickled at debate here about deficits, taxes, and one side being better than the other. The "conservative" Republican House approved every cent of "Obama's" deficit. And Obama wanted more than he got....

Say what you want about PBS and the whole Sesame Street stuff. Romney had it right sort of. If $16T in the hole isn't a sign that you shouldn't be funding luxuries like PBS, NPR, the NEA etc... (and I am writing this while watching Downton Abbey on my Kindle Fire), do you start when you hit $20T? $30T? At what point do you look at your expenditures and say, "whoa"?

 

[Toddsterpatriot]

When Reagan tripled Carter's debt and raised the debt ceiling twice, we didn't hear a peep.

When Bush turned the Clinton surplus into the largest deficit this country had seen to that date, we didn't hear a peep.

Republican voters - who are controlled by the Limbaugh/FOX Machine - are trained only to worry about the debt when a Democrat is in office. But, when their party is in office, they show no concern for spending, waste and debt.

The Reagan recovery in 1983 saw a massive increase in Government jobs. They did it brilliantly. They pumped the states full of money so they could boost employment numbers and add consumers to the economy. Obama, on the other hand, has been forced to give the states the largest haircut they've ever taken.

Reagan got out of recessions the way we used to get out of recessions: by have government jump start the economy.

By this stage in the Reagan recovery, government employment had risen by 3.1 percent; this time around, it’s down by 2.7 percent.

Next, look at government purchases of goods and services (as distinct from transfers to individuals, like unemployment benefits). Adjusted for inflation, by this stage of the Reagan recovery, such purchases had risen by 11.6 percent; this time, they’re down by 2.6 percent.

And the gap persists even when you do include transfers, some of which have stayed high precisely because unemployment is still so high. Adjusted for inflation, Reagan-era spending rose 10.2 percent in the first 10 quarters of recovery, Obama-era spending only 2.6 percent.

The problem with the Republican voter is that he is controlled by the Republican party. Therefore, he doesn't even know history. He has literally not been told what GOP Presidents have spent. When a GOP President is in office, the Republican voter is literally conditioned to protect him like a queen bee. The problem with American Debt is not that the Democrats like to spend, it's that the Republican Voter doesn't know how much his party likes to spend. It took people more than a decade to start admitting how much Reagan spent over Carter. Some Republicans still don't fully know the Reagan record on debt and deficits.

Reagan got out of recessions the way we used to get out of recessions: by have government jump start the economy.

Obama added $6 trillion to the debt in 4 years, just how big of a jump start does he need?