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.Rep. Paul Ryan, whom Republican presidential candidate Mitt Romney has picked as his running mate, told CNSNews.com four years ago, in August 2008, that the U.S. was heading toward bankruptcy on the fiscal path it was then following and that it would be “mindboggling” to make the problem worse by adding the sort of health-care plan that then-Sen. Barack Obama was advocating in his presidential campaign.
CNSNews.com asked Ryan: “If our country, if the federal government of the United States, stays on the fiscal path it is currently following, is the government going to go bankrupt down the road?"
“Yes. We know that for a fact,” said Ryan. “All the actuaries, all the objective score-keepers of the federal government are predicting this. So, this much we know. What we know is our government is growing at an unsustainable pace and it will overwhelm our economy’s ability to pay the bills.”
Since CNSNews.com first published Ryan making this prediction on Aug. 4, 2008, the debt of the federal government has grown by $6.35 trillion--rising 66 percent, from $9,565,042,361,845.53 then to $15,915,814,457,919.46 now
Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.Rep. Paul Ryan, whom Republican presidential candidate Mitt Romney has picked as his running mate, told CNSNews.com four years ago, in August 2008, that the U.S. was heading toward bankruptcy on the fiscal path it was then following and that it would be mindboggling to make the problem worse by adding the sort of health-care plan that then-Sen. Barack Obama was advocating in his presidential campaign.
CNSNews.com asked Ryan: If our country, if the federal government of the United States, stays on the fiscal path it is currently following, is the government going to go bankrupt down the road?"
Yes. We know that for a fact, said Ryan. All the actuaries, all the objective score-keepers of the federal government are predicting this. So, this much we know. What we know is our government is growing at an unsustainable pace and it will overwhelm our economys ability to pay the bills.
Since CNSNews.com first published Ryan making this prediction on Aug. 4, 2008, the debt of the federal government has grown by $6.35 trillion--rising 66 percent, from $9,565,042,361,845.53 then to $15,915,814,457,919.46 now
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
WASHINGTON U.S. and foreign banks may be looking to bring back a U.S. law that could prevent the type of world financial collapse seen in 2008, according to a report in Joseph Farahs G2 Bulletin. The law is the Glass-Steagall Act, which separated commercial and investment banking from each other. The person responsible for its repeal during the Clinton administration was Sandy Weill, who was with Citibank at the time. In an interview with the German magazine, Der Spiegel, Weill called for the return of the legislation, whose provisions were developed during the financial crisis of the 1930s but then repealed during a period of liberalization in the 1990s during the administration of President Bill Clinton.
The Glass-Steagall Act divided the banking world into two categories of commercial banking to manage customer deposits and investment banking, which gets into the riskier side of banking with the hope of delivering profits. Weill thinks that if investments dont work out, it wont affect the traditional role of banking in handling bank accounts and loans as it did in 2008, at the time of the world financial meltdown. If the investment banks then find themselves in deep financial straits, Weill said that there should be no rush to bail them out as the United States did at the tail end of the Bush administration and well into the Obama administration.
These investment banks then would be forced to do their own restructuring to make themselves viable again. They would be smaller, no longer the financial giants they are today, a condition which forced the U.S. and some European countries to undertake huge bailouts because they were too big to fail. If such a strict division between commercial and investment banking once again would be instituted, Weill believes it would be unlikely for a Lehman Brothers to drag down the entire world financial system as it did, causing a cascading effect with similar other investment banks around the world. In Germany, for example, Deutsche Bank, which handles both commercial and investment transactions, is experiencing such difficulties now and may have to be broken up to pursue new business models in an effort to survive.
In an editorial, Der Spiegel said that with some tweaking of the old legislation, it could be adjusted to meet current financial realities. The Glass-Steagall Act was only made possible because a Senate committee had exposed the dumb, risky and at times criminal behavior of banks in the run-up to the Great Depression, the editorial said. The outrage paved the way for the law. Sometimes history repeats itself. Glass-Steagall served the world well for decades and it would have been better if it had never been repealed.
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In less than five months the U.S. economy will face one of its toughest tests yet: a massive tax increase coupled with big spending cuts if Congress fails to act. This so-called fiscal cliff involves almost $3 trillion in tax increases and almost $1 trillion in spending cuts over the next 10 years beginning in 2013.
The Congressional Budget Office forecasts another recession if Congress fails to act.
Steven Rattner, a former Treasury official in the Obama White House and now chairman of Willett Advisers, told The Daily Ticker a major market meltdown would follow if the economy goes over that cliff.
He likened the situation to a car going 80-miles-an-hour in a 40-mile-per-hour zone. "If you slam on the breaks you go through the windshield. That's effectively what would happen to the economy not just because of all the changes that would occur in the federal budget but also because markets would be destabilized," Rattner says. "You would have a major market meltdown."
He prescribes a moderate, gradual deceleration instead. But is Congress capable of doing that -- or anything at all?
Rattner says this Congress has passed the fewest laws than any other Congress in modern history—about two-thirds less than the "do-nothing" Congress during Harry Truman's presidency.
Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.Rep. Paul Ryan, whom Republican presidential candidate Mitt Romney has picked as his running mate, told CNSNews.com four years ago, in August 2008, that the U.S. was heading toward bankruptcy on the fiscal path it was then following and that it would be mindboggling to make the problem worse by adding the sort of health-care plan that then-Sen. Barack Obama was advocating in his presidential campaign.
CNSNews.com asked Ryan: If our country, if the federal government of the United States, stays on the fiscal path it is currently following, is the government going to go bankrupt down the road?"
Yes. We know that for a fact, said Ryan. All the actuaries, all the objective score-keepers of the federal government are predicting this. So, this much we know. What we know is our government is growing at an unsustainable pace and it will overwhelm our economys ability to pay the bills.
Since CNSNews.com first published Ryan making this prediction on Aug. 4, 2008, the debt of the federal government has grown by $6.35 trillion--rising 66 percent, from $9,565,042,361,845.53 then to $15,915,814,457,919.46 now
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
interesting....
And the stock market crash, the housing bust, the bank crisis of 2008 and the biggest recession since the great depression hadn't even happened yet in August 2008 when Ryan predicted this.....
Again, interesting....
And you guys want to put ALL of the blame for this on to President Obama now....?
Triply interesting....
Ryan knew all of this was going to happen, BEFORE Obama was even elected...hmmmmm....that should tell ya something if you know how to think, and be objective imo.
Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.Rep. Paul Ryan, whom Republican presidential candidate Mitt Romney has picked as his running mate, told CNSNews.com four years ago, in August 2008, that the U.S. was heading toward bankruptcy on the fiscal path it was then following and that it would be mindboggling to make the problem worse by adding the sort of health-care plan that then-Sen. Barack Obama was advocating in his presidential campaign.
CNSNews.com asked Ryan: If our country, if the federal government of the United States, stays on the fiscal path it is currently following, is the government going to go bankrupt down the road?"
Yes. We know that for a fact, said Ryan. All the actuaries, all the objective score-keepers of the federal government are predicting this. So, this much we know. What we know is our government is growing at an unsustainable pace and it will overwhelm our economys ability to pay the bills.
Since CNSNews.com first published Ryan making this prediction on Aug. 4, 2008, the debt of the federal government has grown by $6.35 trillion--rising 66 percent, from $9,565,042,361,845.53 then to $15,915,814,457,919.46 now
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
interesting....
And the stock market crash, the housing bust, the bank crisis of 2008 and the biggest recession since the great depression hadn't even happened yet in August 2008 when Ryan predicted this.....
Again, interesting....
And you guys want to put ALL of the blame for this on to President Obama now....?
Triply interesting....
Ryan knew all of this was going to happen, BEFORE Obama was even elected...hmmmmm....that should tell ya something if you know how to think, and be objective imo.
Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.Rep. Paul Ryan, whom Republican presidential candidate Mitt Romney has picked as his running mate, told CNSNews.com four years ago, in August 2008, that the U.S. was heading toward bankruptcy on the fiscal path it was then following and that it would be mindboggling to make the problem worse by adding the sort of health-care plan that then-Sen. Barack Obama was advocating in his presidential campaign.
CNSNews.com asked Ryan: If our country, if the federal government of the United States, stays on the fiscal path it is currently following, is the government going to go bankrupt down the road?"
Yes. We know that for a fact, said Ryan. All the actuaries, all the objective score-keepers of the federal government are predicting this. So, this much we know. What we know is our government is growing at an unsustainable pace and it will overwhelm our economys ability to pay the bills.
Since CNSNews.com first published Ryan making this prediction on Aug. 4, 2008, the debt of the federal government has grown by $6.35 trillion--rising 66 percent, from $9,565,042,361,845.53 then to $15,915,814,457,919.46 now
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
interesting....
And the stock market crash, the housing bust, the bank crisis of 2008 and the biggest recession since the great depression hadn't even happened yet in August 2008 when Ryan predicted this.....
Again, interesting....
And you guys want to put ALL of the blame for this on to President Obama now....?
Triply interesting....
Ryan knew all of this was going to happen, BEFORE Obama was even elected...hmmmmm....that should tell ya something if you know how to think, and be objective imo.
Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
interesting....
And the stock market crash, the housing bust, the bank crisis of 2008 and the biggest recession since the great depression hadn't even happened yet in August 2008 when Ryan predicted this.....
Again, interesting....
And you guys want to put ALL of the blame for this on to President Obama now....?
Triply interesting....
Ryan knew all of this was going to happen, BEFORE Obama was even elected...hmmmmm....that should tell ya something if you know how to think, and be objective imo.
Yes it is interesting that economists before the election predicted Obama would spend more then McCain.
Were they right?
Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.Rep. Paul Ryan, whom Republican presidential candidate Mitt Romney has picked as his running mate, told CNSNews.com four years ago, in August 2008, that the U.S. was heading toward bankruptcy on the fiscal path it was then following and that it would be mindboggling to make the problem worse by adding the sort of health-care plan that then-Sen. Barack Obama was advocating in his presidential campaign.
CNSNews.com asked Ryan: If our country, if the federal government of the United States, stays on the fiscal path it is currently following, is the government going to go bankrupt down the road?"
Yes. We know that for a fact, said Ryan. All the actuaries, all the objective score-keepers of the federal government are predicting this. So, this much we know. What we know is our government is growing at an unsustainable pace and it will overwhelm our economys ability to pay the bills.
Since CNSNews.com first published Ryan making this prediction on Aug. 4, 2008, the debt of the federal government has grown by $6.35 trillion--rising 66 percent, from $9,565,042,361,845.53 then to $15,915,814,457,919.46 now
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
interesting....
And the stock market crash, the housing bust, the bank crisis of 2008 and the biggest recession since the great depression hadn't even happened yet in August 2008 when Ryan predicted this.....
Again, interesting....
And you guys want to put ALL of the blame for this on to President Obama now....?
Triply interesting....
Ryan knew all of this was going to happen, BEFORE Obama was even elected...hmmmmm....that should tell ya something if you know how to think, and be objective imo.
i'm not mocking Ryan for knowing this....i'm mocking the people here that have continually put the entire blame for ALL of this financial mess we are in on to Obama, when CLEARLY this very smart Ryan, KNEW it was what congress did under President Bush that was going to put us between a rock and a hard place, long before Obama was even elected or inaugurated.Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
interesting....
And the stock market crash, the housing bust, the bank crisis of 2008 and the biggest recession since the great depression hadn't even happened yet in August 2008 when Ryan predicted this.....
Again, interesting....
And you guys want to put ALL of the blame for this on to President Obama now....?
Triply interesting....
Ryan knew all of this was going to happen, BEFORE Obama was even elected...hmmmmm....that should tell ya something if you know how to think, and be objective imo.
yes tells me the guy can read the numbers and use his brain. you democrats go ahead and try to beat that out of him.
Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.Rep. Paul Ryan, whom Republican presidential candidate Mitt Romney has picked as his running mate, told CNSNews.com four years ago, in August 2008, that the U.S. was heading toward bankruptcy on the fiscal path it was then following and that it would be mindboggling to make the problem worse by adding the sort of health-care plan that then-Sen. Barack Obama was advocating in his presidential campaign.
CNSNews.com asked Ryan: If our country, if the federal government of the United States, stays on the fiscal path it is currently following, is the government going to go bankrupt down the road?"
Yes. We know that for a fact, said Ryan. All the actuaries, all the objective score-keepers of the federal government are predicting this. So, this much we know. What we know is our government is growing at an unsustainable pace and it will overwhelm our economys ability to pay the bills.
Since CNSNews.com first published Ryan making this prediction on Aug. 4, 2008, the debt of the federal government has grown by $6.35 trillion--rising 66 percent, from $9,565,042,361,845.53 then to $15,915,814,457,919.46 now
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....Ryans been on top of this for years, While Obama and the dems spend us into oblivion
.
Debt Up $6.35T Since Ryan Predicted--in 2008-U.S. Was Headed Toward Bankruptcy | CNSNews.com
interesting....
And the stock market crash, the housing bust, the bank crisis of 2008 and the biggest recession since the great depression hadn't even happened yet in August 2008 when Ryan predicted this.....
Again, interesting....
And you guys want to put ALL of the blame for this on to President Obama now....?
Triply interesting....
Ryan knew all of this was going to happen, BEFORE Obama was even elected...hmmmmm....that should tell ya something if you know how to think, and be objective imo.
Yes it is interesting that economists before the election predicted Obama would spend more then McCain.
Were they right?
i'm not mocking Ryan for knowing this....i'm mocking the people here that have continually put the entire blame for ALL of this financial mess we are in on to Obama, when CLEARLY this very smart Ryan, KNEW it was what congress did under President Bush that was going to put us between a rock and a hard place, long before Obama was even elected or inaugurated.Ryan knew this back in 2008....thus he knew the track that Bush and congress had put us on with their added 6 trillion to the national debt, and the continuation of these legislated programs that occurred under president bush, were going to bankrupt us.....
interesting....
And the stock market crash, the housing bust, the bank crisis of 2008 and the biggest recession since the great depression hadn't even happened yet in August 2008 when Ryan predicted this.....
Again, interesting....
And you guys want to put ALL of the blame for this on to President Obama now....?
Triply interesting....
Ryan knew all of this was going to happen, BEFORE Obama was even elected...hmmmmm....that should tell ya something if you know how to think, and be objective imo.
yes tells me the guy can read the numbers and use his brain. you democrats go ahead and try to beat that out of him.
The truth will set you free.....try it!
Romney, supported TARP, supported Fannie and Freddie bailout, supported the Obama stimulus that you all are still going nuts over, supports Bernanke at the fed and printing money, supported the Auto Bailout, supported universal health care insurance for all, etc etc etc.....as I said before, Romney is Obama's biggest fan!
i'm not mocking Ryan for knowing this....i'm mocking the people here that have continually put the entire blame for ALL of this financial mess we are in on to Obama, when CLEARLY this very smart Ryan, KNEW it was what congress did under President Bush that was going to put us between a rock and a hard place, long before Obama was even elected or inaugurated.yes tells me the guy can read the numbers and use his brain. you democrats go ahead and try to beat that out of him.
The truth will set you free.....try it!
Romney, supported TARP, supported Fannie and Freddie bailout, supported the Obama stimulus that you all are still going nuts over, supports Bernanke at the fed and printing money, supported the Auto Bailout, supported universal health care insurance for all, etc etc etc.....as I said before, Romney is Obama's biggest fan!
im going to go slow, so read twice, people can support ideas, even if they are not the best ones, or even if they are bad, the difference between Ryan supporting it and Obama supporting it, Ryan had plans to get us out, Obama made it worse.
i'm not mocking Ryan for knowing this....i'm mocking the people here that have continually put the entire blame for ALL of this financial mess we are in on to Obama, when CLEARLY this very smart Ryan, KNEW it was what congress did under President Bush that was going to put us between a rock and a hard place, long before Obama was even elected or inaugurated.
The truth will set you free.....try it!
Romney, supported TARP, supported Fannie and Freddie bailout, supported the Obama stimulus that you all are still going nuts over, supports Bernanke at the fed and printing money, supported the Auto Bailout, supported universal health care insurance for all, etc etc etc.....as I said before, Romney is Obama's biggest fan!
im going to go slow, so read twice, people can support ideas, even if they are not the best ones, or even if they are bad, the difference between Ryan supporting it and Obama supporting it, Ryan had plans to get us out, Obama made it worse.
Oh horse shit.
without the stimulus, which included a huge chunk for tax cuts, it would have been worse....ASK ROMNEY who supported it....and still defends it and supports it.....im going to go slow, so read twice, people can support ideas, even if they are not the best ones, or even if they are bad, the difference between Ryan supporting it and Obama supporting it, Ryan had plans to get us out, Obama made it worse.
Oh horse shit.
do like obama said when he claimed "without the stimulus things would ahve been worse" prove me wrong.
without the stimulus, which included a huge chunk for tax cuts, it would have been worse....ASK ROMNEY who supported it....and still defends it and supports it.....Oh horse shit.
do like obama said when he claimed "without the stimulus things would ahve been worse" prove me wrong.
vices presidents can't do crap....other than cheney who ran the show....
Romney is NOT going to let Ryan run the show like bush let cheney...it'll never happen, Romney will be sole ruler.
how do you prove something that did not occur?without the stimulus, which included a huge chunk for tax cuts, it would have been worse....ASK ROMNEY who supported it....and still defends it and supports it.....do like obama said when he claimed "without the stimulus things would ahve been worse" prove me wrong.
vices presidents can't do crap....other than cheney who ran the show....
Romney is NOT going to let Ryan run the show like bush let cheney...it'll never happen, Romney will be sole ruler.
prove it do not deflect, PROVE IT
