9.1 trillion dollar deficit.

Discussion in 'Politics' started by PatekPhilippe, Oct 17, 2009.

  1. PatekPhilippe
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    PatekPhilippe Senior Member

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    There was an article on MSNBC today that discussed the budget deficit. They reported that the curent budget deficit was 1.4 trillion dollars as of the end of FY 2009. Obama's 2010 budget contained a 1.7 trillion dollar budget deficit. That's up 300 billion or so....
    Now..read this little tidbit:

    What the F*CK does this mean? Does Obama know that his wreckless spending will double the National Debt? Or is he setting us up for justifying a massive tax increase on all working Americans?

    Where is this money going to be spent?

    Federal deficit triples from year ago - More politics- msnbc.com
     
    Last edited: Oct 17, 2009
  2. Fatality
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    Fatality SunCrackedSoul

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    obam is trying to turn the US into a third world ghetto to remind him of home.
     
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  3. PatekPhilippe
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    PatekPhilippe Senior Member

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    [​IMG]
     
  4. editec
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    editec Mr. Forgot-it-All

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    They're about the business of DEVALUING the dollar.

    Now, there's good outcomes of that event and bad ones.

    The bad ones are obvious to most of you so I won't waste your time on that.

    The good outcomes of a devalued dollar?

    It begins to curtail us buying stuff made offshore.

    And THAT encourages manufacturing here.

    We need some inflation, folks, we really do.

    There is not enough liquidity in our system right now.

    the FED should be buying US bonds from the banks to give the banks liquidity so they're start lending to busiesses so we can get this econopmy rolling again.

    It also makes the debts we have overseas less painful to pay.
     
    Last edited: Oct 17, 2009
  5. strollingbones
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    strollingbones Diamond Member

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    i dont think many people can even conceive of a trillion dollars...here is my question...scare me...what comes after a trilllion? cause we are gonna be there without radical change....but this has been a run away train for a while. military spending does not stimulate an economy as would the same dollar spend in the civilian sector.
     
  6. PatekPhilippe
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    PatekPhilippe Senior Member

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    Thank you for the responss.

    editec raises excellent points. About the only thing I could add would be that a devalued dollar means that we borrowed money very cheaply from China and other sponsors of our debt. I agree that we need some inflation....and to add this...the Fed IS buying U.S. treasuries...to the tune of nearly 2 trillion dollars thus far ....where do you think all of that TARP and STIMULUS money came from?

    strollingbones....say "Quadrillion". That's the next step after $999,999,999,999,999.99 All areas of government spending need to be cut. I don't think any sector should be spared....fair is fair.
     
    Last edited: Oct 17, 2009
  7. Skull Pilot
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    Skull Pilot Platinum Member

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  8. Ame®icano
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    Ame®icano Gold Member

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    Inflation is another form of taxation. The government for sure prefers any taxation they can get. Inflation serve its purpose if helps to show bullish market where the price of paper assets rrising in value making everyone feel that they were wealthier, when practically they are not. I'd rather see the wealth created through the means of production or through savings.
     
  9. PatekPhilippe
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    PatekPhilippe Senior Member

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    OK. I know most Americans gave Obama the benefit of the doubt when he was running for President and after he was elected. One of his statements justifying his 2010 budget deficit was:

    "We have to deficit spend now to save money in the future."

    Well...how is a projected 9.1 trillion dollar deficit a savings in the future?

    Can someone please explain this math to me...What exactly are we saving? It sure as hell isn't money.
     
  10. PatekPhilippe
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    PatekPhilippe Senior Member

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    Why is it when Democrats in government promise us savings we always see our deficit and the National Debt reach new highs?
     

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