We are in big trouble

[zeke]

Sovereign debt is sorta like maxing out your credit cards and thinking you are rich because of all the great stuff you have.

And when that happens in a republican household, you know what they do?

They don't get another job for more income. NO what the repub would do is quit buying food so that the big screen didn't get repoed. They would rather be hungry than get another job.

rethugs say; We don't need more income, we just need to be hungry. But we look rich.

It's all about appearences with those rethugs. Reality doens't matter much.

 

[paulitician]

The Takers will soon outnumber the Producers. The Tipping-Point is fast approaching. We're an Entitlement Nation now. We are in decline. Third World Misery and only the illusion of Freedom is sadly America's future. Very dark days are definitely ahead.

 

[Mr. Shaman]

I think we have reached the point of no return. We are looking at raising taxes and cutting spending of about 503 billion dollars in January and the CBO is predicting that instead of a possible 3 percent growth we would be looking at a recession next year and shrinkage of .5 percent. Now these cuts and taxes would lower the deficit to about 900 billion but with a new recession revenues would drop and more people would join government programs and essentially increase the deficit. I think we are in a doomed economy no matter what we do. I think our nanny economy has reached the point to where we actually have to collapse and go bankrupt to come out on the other side cleaned up.

Yeah.....sure......that's what did it....our "nanny economy".

Why BU$HCO Tax Cuts Were Temporary

December 22, 2009​

"The answer is that President Bush and a complicit Congress didn’t want to show the magnitude of the deficits that would result from their tax cuts. To hide those deficits as they were pushing them through they used a variety of accounting tricks. One of those tricks was attaching expiration dates so that, on paper, there wouldn’t be any long-term costs. This made the long-term deficit picture look fairly rosy on paper even as it doomed Bush’s successor and the current Congress to cleaning up the mess."

 

[Pinocchio]

Worst depression ever, really? As for the recovery, we have supposedly been in recovery for 3 years now. To be a recovery at some point you actually have to recover or there was no recovery at all. But still interest is low and we are still getting stimulus money from the fed and the government. Gold is still high and we are still in a recovery now? If things are not going up, you are not in a recovery you are just flat.

Historically, coming out of a financial recession takes longer. It took ten years and WW II to get out of the Great Depression. Stimulus stopped two years ago but enough time for the economy to get its legs back.

Housing usually leads us out of a recession, but this time it took time to work off the excess housing inventory and debt accrued. Alot of morons took equity loans off their inflated housing prices.

Under the circumstances, the recovery has proceeded as well as could be expected. Yes, stimulus got us out which equals debt. Unfortunately Bush had tax cuts and unfunded wars and we went into the great recession accruing $5 trillion in debt and much less leverage to get us out. VP Cheney said debt didn't matter back then. Did you complain?

It hasn't helped that the US bond rating was lowered because the Tea Party house was willing to default on the debt, to get rid of Obama. This contributed to higher interest payment on the debt and a slower recovery, aka flat econ. Not very patriotic. How about mentioning that ?

if spending is the way to get an economy going, California and Greece would be booming. Why don't you try an experiment at home. Go get your self in trouble and then try and spend your way out of it.

Stimulus is still happening. We are pumping 1.5 trillion dollars of borrowed money into the economy. The fed is still stimulating the economy with low interest rates and qe3. The cbo said if we raise taxes and cut spending by 500 billion we would go into a recession. That is because the economy is still on life support.

Greece doesn't have stimulus. Their only option now is the Rep approach of austerity and it is killing them.

Before the recession, Cali and Greece took the Bush approach. They spent, cut taxes to get reelected and borrowed money to rosy up the econ, unlike Clinton who balanced the budget and had a surplus.

Remember the fable of the grass hopper and the ants. We needed to build up our savings during the good times (summer) to carry us over the bad times (winter), not so much as spending and borrowing your way out.

Now Cali and Greece have no alternative but austerity and it is killing the econ, adding to the debt and misery of the 47%. In the mean time the rich can exploit the situation and buy cheap foreclosure real estate. The difference saving Cali is they have a Fed and govt to stimulate thier econ and employment despite austeriy measures.

QE2 and low interest are passive monetary measures that do not add to the debt, but still stimulate the econ. Any future inflation threats can easily be handled by a competent Fed Chairman.

Its ironic how the Reps confuse the voters with twisted logic to get us back into the same econ cycles that just make the rich richer.

 

[miami_thomas]

I think we have reached the point of no return. We are looking at raising taxes and cutting spending of about 503 billion dollars in January and the CBO is predicting that instead of a possible 3 percent growth we would be looking at a recession next year and shrinkage of .5 percent. Now these cuts and taxes would lower the deficit to about 900 billion but with a new recession revenues would drop and more people would join government programs and essentially increase the deficit. I think we are in a doomed economy no matter what we do. I think our nanny economy has reached the point to where we actually have to collapse and go bankrupt to come out on the other side cleaned up.

Yeah.....sure......that's what did it....our "nanny economy".

Why BU$HCO Tax Cuts Were Temporary

December 22, 2009​

"The answer is that President Bush and a complicit Congress didn’t want to show the magnitude of the deficits that would result from their tax cuts. To hide those deficits as they were pushing them through they used a variety of accounting tricks. One of those tricks was attaching expiration dates so that, on paper, there wouldn’t be any long-term costs. This made the long-term deficit picture look fairly rosy on paper even as it doomed Bush’s successor and the current Congress to cleaning up the mess."

Yet the CBO says letting them expire will start recession. I guess they need to talk to the democrats to find out it doesn't matter.

 

[miami_thomas]

Historically, coming out of a financial recession takes longer. It took ten years and WW II to get out of the Great Depression. Stimulus stopped two years ago but enough time for the economy to get its legs back.

Housing usually leads us out of a recession, but this time it took time to work off the excess housing inventory and debt accrued. Alot of morons took equity loans off their inflated housing prices.

Under the circumstances, the recovery has proceeded as well as could be expected. Yes, stimulus got us out which equals debt. Unfortunately Bush had tax cuts and unfunded wars and we went into the great recession accruing $5 trillion in debt and much less leverage to get us out. VP Cheney said debt didn't matter back then. Did you complain?

It hasn't helped that the US bond rating was lowered because the Tea Party house was willing to default on the debt, to get rid of Obama. This contributed to higher interest payment on the debt and a slower recovery, aka flat econ. Not very patriotic. How about mentioning that ?

if spending is the way to get an economy going, California and Greece would be booming. Why don't you try an experiment at home. Go get your self in trouble and then try and spend your way out of it.

Stimulus is still happening. We are pumping 1.5 trillion dollars of borrowed money into the economy. The fed is still stimulating the economy with low interest rates and qe3. The cbo said if we raise taxes and cut spending by 500 billion we would go into a recession. That is because the economy is still on life support.

Greece doesn't have stimulus. Their only option now is the Rep approach of austerity and it is killing them.

Before the recession, Cali and Greece took the Bush approach. They spent, cut taxes to get reelected and borrowed money to rosy up the econ, unlike Clinton who balanced the budget and had a surplus.

Remember the fable of the grass hopper and the ants. We needed to build up our savings during the good times (summer) to carry us over the bad times (winter), not so much as spending and borrowing your way out.

Now Cali and Greece have no alternative but austerity and it is killing the econ, adding to the debt and misery of the 47%. In the mean time the rich can exploit the situation and buy cheap foreclosure real estate. The difference saving Cali is they have a Fed and govt to stimulate thier econ and employment despite austeriy measures.

QE2 and low interest are passive monetary measures that do not add to the debt, but still stimulate the econ. Any future inflation threats can easily be handled by a competent Fed Chairman.

Its ironic how the Reps confuse the voters with twisted logic to get us back into the same econ cycles that just make the rich richer.

Clinton came in we a roaring economy from reagan and bush. Gw inherited a slowing economy from clinton. Also if you look at the debt the years everyone proclaims surpluss you will see it still growing. His best year it grew by 120 billion. Fact is we cannot tax without consequences.