America's Debt: Shame on Them

[Remodeling Maidiac]

Does that mean you voted for McCain or that you did not vote?

There's a robot called the Big Zero?

I didn't vote. Also, I figured you were trying to put The Big O. The Big O is a robot.

Is the name-calling really necessary anyway?

You didn't vote yet here you are wanting you voice to be heard and valued?

Interesting

 

[Modbert]

You didn't vote yet here you are wanting you voice to be heard and valued?

Interesting

You didn't bother to read my response when Code said the same exact thing.

Interesting

 

[CrusaderFrank]

f you were aware at all, you'd would have know that Trillion plus deficits plus having Social Programs underfunded in the trillion column will not work out for "average Americans like you and me"

Again, why? How? Just because you claim it doesn't make it true.

Budget deficits are bad because they cause Global Warming.

 

[007]

What, in your opinion bert, is it going to take to teach Washington a lesson? What is it going to take to get them to spend within their means?

Default sounds good to me.

Playing russian roulette with a full chamber is not a good way to teach anyone a lesson. You seem to have no idea of the implications of what would happen if we didn't raise the debt ceiling. Washington wouldn't suffer, average Americans like you and me would.

You seem to have no idea of the implications of what WILL happen if we just KEEP SPENDING.

What do you want to do bert? How do you want it? Do you want to go through the pain of draconian budget cuts now to get the deficit under control, or do want the government to reach the point of insolvency from spending until we can no longer even afford to pay the interest on the debt?

You tell me?

 

[Foxfyre]

wasn't this posted in another thread?

and in 3 weeks they will not go into default, they will shuffle the revenue 'ins' to pay the interest 'outs' on debt., and start cutting down on sending checks out to or funding operating budgets.

The government collects plenty of tax receipts each month to service the debt. The Real Issue for the Dems (as noted by Geithner), is that if the debt ceiling is not increased, the Dems could not prevent the government from shrinking.

The government needs to shrink. We can't afford to pay for it. That's the problem.

If I can't get any more credit because I'm maxed out and I can't buy a minimum amount of food or necessary medicine or pay my necessary heating bill, I look around the house for something I can hock or sell. I cancel the cleaning service and have Comcast turn off the high speed internet and bust us back to basic cable. We'll get by on grilled cheese sandwiches and oatmeal for awhile and won't be ordering in any Chinese or pizza. We will park the car and walk as much as possible, organize fuel efficient groupings for what trips are necessary, and get by with whatever is in our closet. No new stuff for awhile.

You can't tell me that there aren't a jillion ways our fearless leaders waste money or that they don't spend tons of it on non essentials. When they cancel their cadillac pension funds and health plans and cushy expense accounts, fly coach when they absolutely have to travel, make do with existing furniture instead of redecorating every two years, etc. etc. etc. etc. . . . .

When they start closing down duplicate or non essential bureaucracies in government. . . .

When they start emptying out and selling off the hundreds of acres of perfectly good warehoused furniture and supplies that has been gathering dust for years . . . .

When they start doing REAL audits of necessary agency expenditures and start treating the people's money with the same respect we treat it. . . .

When they cancel every contract or authorized expenditure that does not absolutely have to be spent. . . .

When they have hammered out a real honest to goodness balanced budget amendment. . . .

When they have done all that and still need to raise the debt ceiling, then we can look at it.

Until then, it is time the taxpayer closes the spigot and says no more. It is time we require our fearless leaders to live within their means and to respect our money as if it was their own.

 

[Avorysuds]

What do you know, a total shit thread posted by a near useless poster.

"It's clearly the Republicans fault" Oh go get fucked you little *****, you are in fact what is wrong with this country, you can't take blame for your own mistakes. If the Republicans don’t do what Obama wants it's the Republicans fault???????? is this a joke? How about Obama actually cuts some spending, hell end 1 of his 4 ******* wars... Dear god "you people" look dumber ever day of your life.

So please, tell me how bad I look swearing in my post while you run around in circles trying to blame the HOUSE for why the "recovery" never ******* happened.

"Oh yes indeed sir, if it wunt for them evil Republicans in the house for absolutely sure the recovery would be happening right now, I'm 100% positive of that, yes I am!"

You noobs are gleefull you have this deficit bullshit to try and dump your failed ass policies off on. Obama 110% politics as usual.

 

[code1211]

HotAirPundit: Krauthammer on the Jet Tax: If It Was Collected Every Year Since John the Baptist, You Wouldn't Cut One of Obama's Deficit's By Half
KRAUTHAMMER: "I did the math on this. If you collect the corporate jet tax every year for the next 5000 years, you will cover one year of the debt Obama has run up"


EDITORIAL: Reid's budget strategy - Washington Times
For the second year in a row, Mr. Reid has failed to produce a Senate budget. That means any member may bring a plan to the floor andget it passed with 51 votes. As many as four different budgets could be considered this week: Mr. Ryan‘s; conservative plans from Sen. Patrick J. Toomey, Pennsylvania Republican, and Sen. Rand Paul, Kentucky Republican; and President Obama’s 2012 budget. The Democratic majority is expected to vote down all of them, including the White House proposal.

Nancy Pelosi Says House Dems Won’t Support Obama on Proposed Debt-Limit Entitlement Cuts | Breaking news and opinion on The Blaze

Except where did Obama say that the corporate jet tax is the solution to our problems?
Your link about Reid is a editorial, not a news story.

Pelosi saying she won't support SS and Medicare cuts is different from what you said. Furthermore, Obama doesn't need Pelosi if he does decide to cut SS and Medicare.

This might be the problem. Go to your search screen and type into the little box a few key words like "Obama corporate jet". For those particular words, your search engine will return 745,000 "hits". This thing that the Big 0 calls the "internets" is really quite amazing.

It allows you to check the accuracy of things said by politicians. After you use it a little, you will learn to avoid certain sites and compare the reports of other sites with still others that offer differing world views.

As far as Reid, why don't YOU Google the number of votes that the Senate has actually taken this year. It's less than 100. You go ahead, though, and try it out. It's kind of fun.

Pelosi? She avoids solutions like the plague. She wants issues as do all Democrats. Democrats have been working on the same issues throughout my life and they are still working on them. If they were trying to solve the issues, one suspects they might have been solved unless they are incompetent boobs.

If they are, as we are always told, very intelligent and creative people with extended forsight and expertise from all sides of society, one suspects that they might have an agenda that does not include a resolution of the issues.

What might that agenda include?

The corporate jet deduction that the Big 0 keeps harping on has a total price tag of 300 million /year. This year's deficit is 1.4 Trillion. Do the math. The Big 0 thinks this will correct the problem and we can avoid spending cuts with this approach.

With this guy in charge, we're screwed.



Hiking Taxes On Corporate Jets: Obama’s Version Of ‘Waste, Fraud And Abuse’ - Business in The Beltway - Money & Politics - Forbes

Obama can do the math—he understands his corporate jet proposal would only trivially reduce the deficit. But the president wants to put the GOP on the defensive for its absolutist opposition to any tax increases. So, he claims, Republicans are willing to jeopardize the credit of the United States in order to protect, as he so dramatically puts it, “millionaires and billionaires.” And I thought he was talking about the NBA lockout.

It isn’t clear exactly what tax subsidy Obama is talking about, though he appears to be going after a 1987 law that allows corporate jets to be depreciated over 5 years rather than the 7 years required for commercial aircraft. According to a 2007 revenue estimate, this would shave about $3 billion off the deficit over a decade, or roughly $300 million-a-year. You’ll recall that this year’s deficit is likely to be about $1.4 trillion.

 

[code1211]

And under what circumstances exactly is the reduction of spending desirable?

I already answered your question, go back and read it.

I couldn't understand which circumstances you were defining. Maybe dumb it down a little for me.

 

[Neotrotsky]

Too bad the spending cuts never actually materialize

Why are Republicans demanding a debt deal that has big spending cuts but no tax increases? (Besides, of course, the fact that spending is the problem and the last thing this weak economy needs is a tax hike?) Maybe it’s because the last time they agree to one of these “$2 in spending cuts for every $1 in tax hikes” agreements, they got snookered.

 

[code1211]

f you were aware at all, you'd would have know that Trillion plus deficits plus having Social Programs underfunded in the trillion column will not work out for "average Americans like you and me"

Again, why? How? Just because you claim it doesn't make it true.

Budget deficits are bad because they cause Global Warming.

In addition to that, "Poor and minorities are hardest hit".

 

[iamwhatiseem]

And we have it.
According to late night phone call...the "deal" is really no deal.
They will "cut" $2 trillion in spending without including a "no new spending clause".
In other words they will cut $2 trillion in one place - but will not guarantee it won't be simply moved to somewhere else.
And there will be no new taxes.

So tomorrow - the Dems will say they tried but the republicans won't work with them, and the republicans will say they tried but the Dems refused to take cuts seriously.
Trouble is - they are both right.
The Dems are not taking cuts seriously - at all - and the republicans won't agree to any tax increases no matter what.

And once again - our government on both sides fail us.

 

[editec]

WE cannot balance the budget without both raising taxes and reducing spending, folks.

To attempt to do it without doing some of BOTH would destroy this nation.

 

[Rozman]

So, wait a second, is running up annual trillion dollar deficits not a good idea?

Nooooo.Because it's Bush's fault.

 

[pete]

I still have yet to see any GOP "Leaders" explain why our having debt is a bad thing. So bad, that we need to risk default in order to stop it.

We will NOT default !!!
The government will finally have to buck up and learn to do what the piece of shit in office has been telling us to do since day one!!
Yes there will be some more job losses, but to fix the problem let me again quote the shit stain in office it will not be easy!!
Stop prolonging it for political gains and get'r done!!

 

[Toro]

Isn't it the least bit odd that every other developed country that is faced with similar debt problems are ALL cutting taxes and spending? NOBODY is raising taxes, NOBODY. Must be a buncha fools I guess.

Really, who?

I know the French raised taxes recently. The UK plan is $1 in tax increases for every $3 in spending cuts.

The U.K. government has just announced an austerity plan designed to restore the nation’s fiscal balance. The plan calls for about $145 billion in spending reductions and about $43 billion in tax increases, summed over the first five years.

http://blogs.forbes.com/streettalk/2010/06/22/the-u-k-austerity-plan-is-a-77-solution/

 

[Neotrotsky]

I still have yet to see any GOP "Leaders" explain why our having debt is a bad thing. So bad, that we need to risk default in order to stop it.

The gov'ts spending is like a drug addict; it needs an "intervention"

 

[Toro]

Isn't it the least bit odd that every other developed country that is faced with similar debt problems are ALL cutting taxes and spending? NOBODY is raising taxes, NOBODY. Must be a buncha fools I guess.

Really, who?

I know the French raised taxes recently. The UK plan is $1 in tax increases for every $3 in spending cuts.

Merkel Pledges Tax Cuts Despite Rising Deficit

Lower incomes taxes would "provide motivation" and encourage economic growth, Ms. Merkel told a conference of her party, the Christian Democratic Union, and its Bavarian sister party, the Christian Social Union.

"It would be wrong not to do what is right and necessary for growth, and so prevent ourselves emerging quickly from this crisis," Ms. Merkel said in her conference speech.​

Germany has raised taxes. (Thanks Modbert!)

Germany cuts jobs, raises taxes - thestar.com

Germany to Raise Taxes on Tobacco, Cut Energy Subsidies Less Than Planned - Bloomberg

Most of the deficit reduction should come from spending cuts IMHO, but there should be tax increases as well, which is what many other countries are doing.

 

[Toro]

I maxed out a cc in college, asked for a higher limit, was denied, and then I continued to pay off my debt. I never defaulted. I'm just not getting all this trumped up end of the world, armageddon stuff if we don't raise the limit. If anything, it will show that we're serious that we're gonna STOP racking up debt.

S&P said they will lower our credit rating to a D if we do not raise the debt ceiling. Comment on that? And furthermore, do you know the implications if S&P does that?

Let's see, we can raise the debt ceiling and risk our credit rating going from AAA to AA+ some time in the future, or we can not raise the debt ceiling and watch our credit rating go from AAA to D immediately.

Hmmmm ...

 

[Neotrotsky]

Really, who?

I know the French raised taxes recently. The UK plan is $1 in tax increases for every $3 in spending cuts.

Merkel Pledges Tax Cuts Despite Rising Deficit

Lower incomes taxes would "provide motivation" and encourage economic growth, Ms. Merkel told a conference of her party, the Christian Democratic Union, and its Bavarian sister party, the Christian Social Union.

"It would be wrong not to do what is right and necessary for growth, and so prevent ourselves emerging quickly from this crisis," Ms. Merkel said in her conference speech.​

Germany has raised taxes. (Thanks Modbert!)

Germany cuts jobs, raises taxes - thestar.com

Germany to Raise Taxes on Tobacco, Cut Energy Subsidies Less Than Planned - Bloomberg

Most of the deficit reduction should come from spending cuts IMHO, but there should be tax increases as well, which is what many other countries are doing.

Your articles are dated both from last year

Your question was who is cutting taxes
It appears Germany is NOW

German Government To Borrow Less In 2012, Cut Taxes

Sorry

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"Unemployment Rate Won’t Matter in 2012" - Obama Adviser Plouffe

 

[Toro]

That exact scenario happened when I was in college. I called the electric company and worked out a deal to where I could pay reduced payments until I could afford the monthly bill. My service was never cut off. The key was that I took initiative and worked with the utility company.

And are you going to rely on hoping that the same thing happens here?

I'm not relying on anything. We need to be responsible and accountable for our actions. By continually raising the limit and never paying it off is irresponsible.

I do agree that we need to be responsible and accountable for our actions. Thus we need a plan to bring the deficit under control some time in the not too distant future, primarily through spending cuts but also through tax increases.

However, we don't necessarily ever have to pay off all our debt. Long-lived corporations such as GE, AT&T and Proctor and Gamble never pay off their debt either. They, like the federal government, just keep rolling it. Of course, less debt is better, but what matters is the level relative to the economy.