29 BILLION DOLLARS A month ON INTEREST ALONE ON THE NATIONAL DEBT

[Liability]

Good luck selling eliminating Security and Medicare to the public.

Gee. Good thing I didn't make that suggestion.

Don't you just hate the quote function...

SPEND FAR FAR LESS. Our entitlement programs have to be altered or eradicated. Our choice on when and on what we spend so much fucking money must be adjusted dramatically.

If we do that and permit the economy to actually shoot up, the increased productivity alone will yield significant "revenues" that do not require any increase in taxation or tax rates.

You do tend to think statically and two dimensionally, Polky.

Nope. I love it. I also love when morons can't manage to highlight the very words that demonstrate how wrong they are.

Kinda paints you as a deliberate liar.

It really wasn't difficult to highlight the part you CHOSE to gloss over, dipshit.

 

[Polk]

The kind of altering you're talking about would involve massive benefit decreases. You'll be equally successful selling that one.

You did propose eliminating Social Security and Medicare. That you also proposed cutting them to the bone doesn't change that fact. If you said you ate a steak and a baked potato, it's not a lie for someone to say you ate a steak.

 

[Liability]

The kind of altering you're talking about would involve massive benefit decreases. You'll be equally successful selling that one.

You did propose eliminating Social Security and Medicare. That you also proposed cutting them to the bone doesn't change that fact. If you said you ate a steak and a baked potato, it's not a lie for someone to say you ate a steak.

I see you made some very minute miniscule microscopic and glacially paced progress. The highlighting helped you out.

Good.

And if we DON'T attend to the programs that are clearly out of balance and unsalvageable, the problem will simply bit us in the ass a bit later down the road.

Sticking your head in the sand as you tend to do won't change that fact.

Good luck will be needed if we DON'T address the problem. In fact, luck will never come close to sufficing.

 

[Polk]

Sticking your head in the sand is exactly what you're doing. I once again go back to the FY 2010 example. I'm going to work on the assumption that you'd be unwilling to cut any defense spending (if that's wrong, the numbers shift a little but it's still pretty stark). If there was no non-defense discretionary spending. As in zero. Nada. Nil. No FDA. No FBI. No student loans. No FAA. Even if you had that occur, you'd still need to cut Social Security and Medicare by one-third to balance the budget without raising taxes.

 

[Liability]

Sticking your head in the sand is exactly what you're doing. I once again go back to the FY 2010 example. I'm going to work on the assumption that you'd be unwilling to cut any defense spending (if that's wrong, the numbers shift a little but it's still pretty stark). If there was no non-defense discretionary spending. As in zero. Nada. Nil. No FDA. No FBI. No student loans. No FAA. Even if you had that occur, you'd still need to cut Social Security and Medicare by one-third to balance the budget without raising taxes.

Repeating yourself in your mindless fashion does nothing to make your empty argument any less unpersuasive.

If we stop fucking around and permit the economy in a liberated and free market -- with the potential America's has -- to be given a full throttle, the wealth production increase will be very rapid and dramatic. A rising tide lifts ALL boats, even the ones ridden by the government.

But we cannot give the economy the gas while we are saddled with the absurd debt levels we bind ourselves with.

There is only one viable solution.

Despite your addiction to spending and taxing, we must cut spending drastically.

 

[NYcarbineer]

What he Heck--NO LIBERALS want to talk about 29 BILLION DOLLARS A MONTH going out in INTEREST along on our current debt?

Freakin FIGURES.

Run and HIDE you freakin chicken pieces of crap.

Debt occurs when the government fails to tax enough to pay for its spending.

The willingness to spend without paying for it with sufficient taxation is not a uniquely liberal phenomenon.

In fact, it's not even a disproportionately liberal phenomenon.

Debt occurs when the government fails to tax enough to pay for its spending.

thats a perfect example of why we are were we are.

See, it not executing bills to commit to spending more than we take in ( or can afford to pay down in a timely manner) , but that the need always comes first, and its up to the 'gov'. to find the money there after...wonderful.


and yes it is not a liberal phenomenon I agree. But the pathology is.

Since you're once again lying about what I said, you get some more neg reps in the bank.

 

[LordBrownTrout]

I'm still outraged that we spent 750 billion to bail out the banks. I called my reps and senators but they didn't listen, usc.

Get over it. The banks paid every fucking dollar back + interest. The taxpayers made money off saving the US banks.

BTW, it was the governments fault, specifically Clinton's "Community Reinvestment Act" that setup the financial collapse when the banks had to make loans to the unqualified. When the deadbeats defaulted, the system collapsed. Try running a country without banks.

Where exactly in that 14.3T debt, 2T dollar deficit did we make money? Elaborate on that please.

 

[Polk]

Nice talking points you've got there.

 

[Liability]

I'm still outraged that we spent 750 billion to bail out the banks. I called my reps and senators but they didn't listen, usc.

Get over it. The banks paid every fucking dollar back + interest. The taxpayers made money off saving the US banks.

BTW, it was the governments fault, specifically Clinton's "Community Reinvestment Act" that setup the financial collapse when the banks had to make loans to the unqualified. When the deadbeats defaulted, the system collapsed. Try running a country without banks.

Where exactly in that 14.3T debt, 2T dollar deficit did we make money? Elaborate on that please.

Although overstated, the thrust of what kyzr said is largely true:

"As of March 31, 2011, approximately $146.8 billion in TARP funds was still outstanding, and there [was] close to $60 billion obligated and available to be spent." -- http://www.sigtarp.gov/reports/congress/2011/April2011_Quarterly_Report_to_Congress.pdf

then, there's this:

According to Treasury, through March 31, 2011, CPP recipients had repaid
$179.1 billion of the principal (or 87.4%) leaving $25.9 billion outstanding. In
addition, Treasury had received from CPP recipients approximately $10.7 billion in
interest and dividends. Treasury also had received $7.4 billion through the sale of
CPP warrants that were obtained from TARP recipients.320.

* * * *

Repayment of Funds
Through March 31, 2011, 141 banks — including 10 with the largest CPP investments
— had fully repaid CPP by repurchasing all of the banks’ preferred shares.
In addition, 17 banks have partially repaid by purchasing from Treasury some of
the banks’ preferred shares.322 As of that date, Treasury had received approximately
$179.1 billion in principal repayments, leaving approximately $25.9 billion outstanding.
323 Of the repaid amount, $363.3 million was converted from CPP investments
into CDCI and therefore still represents outstanding obligations to TARP.324

-- same source.