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post #1 of 144 (permalink) Old 05-14-2009, 07:44 PM Thread Starter
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Obama: U.S. Long-Term Debt Load ‘Unsustainable’

Holy shit. Please make it stop.

Who fucking voted for this guy? Raise your hands... I want to punch you in the throat.



http://bloomberg.com/apps/news?pid=2...Lhg&refer=home

Quote:
Obama Says U.S. Long-Term Debt Load ‘Unsustainable’ (Update2)
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By Roger Runningen and Hans Nichols

May 14 (Bloomberg) -- President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

“We can’t keep on just borrowing from China,” Obama said at a town-hall meeting in Rio Rancho, New Mexico, outside Albuquerque. “We have to pay interest on that debt, and that means we are mortgaging our children’s future with more and more debt.”

Holders of U.S. debt will eventually “get tired” of buying it, causing interest rates on everything from auto loans to home mortgages to increase, Obama said. “It will have a dampening effect on our economy.”

Earlier this week, the Obama administration revised its own budget estimates and raised the projected deficit for this year to a record $1.84 trillion, up 5 percent from the February estimate. The revision for the 2010 fiscal year estimated the deficit at $1.26 trillion, up 7.4 percent from the February figure. The White House Office of Management and Budget also projected next year’s budget will end up at $3.59 trillion, compared with the $3.55 trillion it estimated previously.

Two weeks ago, the president proposed $17 billion in budget cuts, with plans to eliminate or reduce 121 federal programs. Republicans ridiculed the amount, saying that it represented one-half of 1 percent of the entire budget. They noted that Obama is seeking an $81 billion increase in other spending.

Entitlement Programs

In his New Mexico appearance, the president pledged to work with Congress to shore up entitlement programs such as Social Security and Medicare. He also said he was confident that the House and Senate would pass health-care overhaul bills by August.

“Most of what is driving us into debt is health care, so we have to drive down costs,” he said.

Obama prodded Congress to pass restrictions on credit-card issuers, saying consumers need “strong and reliable” protection from unfair practices and hidden fees.

“It’s time for reform that’s built on transparency, accountability, and mutual responsibility, values fundamental to the new foundation we seek to build for our economy,” the president said.

Obama called on Congress to send to him by May 25 a bill that would clamp down on what he says are sudden rate increases, unfair penalties and hidden fees. He also wants the measure to strengthen monitoring of credit-card companies.

House Bill

The U.S. House of Representatives passed the credit-card bill last month after adding a provision requiring banks to apply consumers’ payments to balances with the highest interest rates first. The bill also imposes limits on card interest rates and fees.

The Senate continued debating its version of the bill today. It would require credit-card companies to give 45 days’ notice before increasing an interest rate. It would prohibit retroactive rate increases on existing balances unless a consumer was 60 days late with a payment.

The president said Americans have been hooked on their credit cards and share some blame for the current system. “We have been complicit in these problems,” he said. “We have to change how we operate. These practices have only grown worse in the midst of this recession.”

The American Bankers Association, which represents card issuers, has warned lawmakers and the Obama administration against taking punitive action or setting requirements that are too stringent. Doing so, the lobby group says, would limit consumer credit and worsen a credit crunch.

Obama said that restrictions “shouldn’t diminish consumers’ access to credit.”

Uncollectible Debt

Uncollectible credit-card debt rose to 8.82 percent in February, the most in the 20 years that Moody’s Investors Service Inc. has kept records. Lawmakers have said they’re under increasing pressure from constituents to respond to rising interest rates and abrupt changes to consumers’ accounts.

Obama held a White House meeting last month with executives from the credit-card industry, including representatives from Bank of America Corp. and American Express Co. Afterward, he told reporters that credit-card issuers should be prohibited from imposing “unfair” rate increases on consumers and should offer the public credit terms that are easier to understand.

“The days of any time, any increase, anything goes -- rate hike, late fees -- that must end,” Obama said today at Rio Rancho High School. We’re going to require clarity and transparency from now on.”

He also said the steps he has taken to stimulate the economy and start the debate on overhauling the health-care system are beginning to take effect.

‘Beginning to Turn’

“We’ve got a long way to go before we put this recession behind us,” Obama said. “But we do know that the gears of our economy, our economic engine, are slowly beginning to turn.”

Taking questions from the audience, Obama repeated his stance that he wants legislation to overhaul the health-care system finished before the end of the year, saying it is vital to the economy.

Health-care costs are driving up the nation’s debt and burdening entitlement programs such as Medicare, the government- run insurance program for those 65 and older and the disabled.

The programs’ trustees reported May 13 that the Social Security trust fund will run out of assets in 2037, four years sooner than forecast, and Medicare’s hospital fund will run dry by 2017, two years earlier than predicted a year ago.

To contact the reporters on this story: Roger Runningen in Albuquerque at [email protected]; Hans Nichols in Washington at =1871 or [email protected]
Last Updated: May 14, 2009 19:40 EDT



.

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post #2 of 144 (permalink) Old 05-14-2009, 07:48 PM
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He's all about change...

I can't find anyone that voted for him. It's amazing...really.

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post #3 of 144 (permalink) Old 05-14-2009, 07:51 PM
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I'm shocked. Appalled. Really. Is he just an unbelievable liar or an unbelievable moron?


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post #4 of 144 (permalink) Old 05-14-2009, 07:58 PM
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jesus christ...flip flopping mother fucker.

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post #5 of 144 (permalink) Old 05-14-2009, 08:01 PM
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I'm shocked. Appalled. Really. Is he just an unbelievable liar or an unbelievable moron?
An unbelievable, lying, moron...?

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post #6 of 144 (permalink) Old 05-14-2009, 08:04 PM
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An unbelievable, lying, moron...?
No, for the shit that's come out of his mouth to have come out of his mouth, he has to be either a very intelligent liar or a very open and honest moron.


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post #7 of 144 (permalink) Old 05-14-2009, 08:11 PM
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x2 on the throat punching!

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post #8 of 144 (permalink) Old 05-14-2009, 08:14 PM
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My wife works with some die-hard liberal Obama worshippers (still wear the shirts, have photos of Him on TV captured on their cell phone cameras, etc). She had to explain to one today that printing more money wasn't the solution. The true believer is a college-educated school teacher.

Its like they put their brain in neutral for Obama.

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post #9 of 144 (permalink) Old 05-14-2009, 08:34 PM
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i did not vote for this man but i will give him this.... how much of this BS is him personally or the people that pull the puppet strings?????

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post #10 of 144 (permalink) Old 05-14-2009, 08:36 PM
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i did not vote for this man but i will give him this.... how much of this BS is him personally or the people that pull the puppet strings?????
He's the POTUS, man. The buck stops with him.

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post #11 of 144 (permalink) Old 05-14-2009, 08:38 PM
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not to fu*k with you. what is potus?

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post #12 of 144 (permalink) Old 05-14-2009, 08:41 PM
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post #13 of 144 (permalink) Old 05-14-2009, 09:09 PM
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406maro has it figured.its not all obama just like it wasnt all bush.they are just the spokesmen for the hidden puppet masters.

"do what we say or you'll end up like kennedy" these potus's we've had won't die for this country.make no mistake about it.just like bullies that won't fight.all talk and no show.

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post #14 of 144 (permalink) Old 05-14-2009, 09:19 PM
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Is what Ted Kennedy has contagious? If so, can he stay around BO more?

1/19/09, the last day of Free America.
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post #15 of 144 (permalink) Old 05-14-2009, 11:59 PM
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LMAO @ this New America!!! Glad I won't be a part of it!
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post #16 of 144 (permalink) Old 05-15-2009, 12:52 AM
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So you guys dont see the national debt as issue number 1 for the country? I know you are gonna say its because of the democrats and bailouts but our country has been broke for decades, just look at the value of what the dollar is worth today for comparision. Look at the increases, the 70s seems to be start of the downward spiral.

http://www.infoplease.com/ipa/A0001519.html


The bailouts made it worse but so did going to wars we didnt absolutely have to. The days of buying allies to side with us, allowing CEOs to rake in insane bonuses, and outsourcing american jobs has to stop. If it doesnt you can kiss america as a country goodbye! Balancing the budget through MASSIVE cuts isnt enough, they also need to increase revenue intake and they need to do that not by raising taxes but by putting more people to work at higher wages!! We cant run the country on taxes paid by fuckcing Mcdonalds empolyees. We need a MASSIVE surplus for the next 20 years in order for america to become self sufficent again.

Right now america is the welfare child of china and we know how you guys feel about welfare. Sadly, going to fight wars that to need to fought doesnt pay the bills we have, we dont get billions of dollars handed to us by other countries for doing the job they dont want to or have the balls to. Instead we fight the wars and pay them to support it. WTF kinda logic is that? Its no wonder they have no problem letting us, we are footing the bill for it and its bankrupting us to do it.

I for one am glad to see the government acknowledge the problem and just maybe they will start to take steps to reverse it. Course next election, the rich fucks wont be happy cause they are going to lose profit due to having to hire "overpaid, ignorant lazy americans" instead of hard working brilliant chinese and indians which is complete bullshit. They will put someone in that will undo what was changed and we will be right back on the the road to 3rd world country living.

Its gonna suck until people adjust but if you truely care about america as a country then you have to realize things MUST change, the sooner the better. I want america to go back to the 1950s way of business. Back when an american business man wouldnt be caught dead doing business with the fucking commies or any other foreigner when we had plenty of hard working americans that are more than capable here. Guys that were proud of being able to say MADE IN AMERICA! Who ever thought america, with one of the largest populations in the world, could outsource its source of prosperity is the one that needs to be punched in the throat.

Heres an article i copied and saved from the news a few years ago, have a read.


The Soviet Union, Marxist Leninism, the Evil Empire and their ugly metaphor, the Berlin Wall, crumbled and collapsed almost 17 years ago.

At the time, I thought it was strange that the United States didn't have the inclination to celebrate. There were no victory parades and no fireworks; nor did Congress declare a V-CW Day, as in Victory in the Cold War. There weren't even any grand speeches about America's emergence as the World's Only Superpower.

But a grand smugness did grip most of Washington. And hubris became the foundation of almost every national policy, foreign and domestic. And why not? We were entitled as the World's Only Superpower.

What a blessing, all these superpower advantages. What other people besides Americans can afford not to make their own clothes? The world has other people for such menial tasks, and they sell us all but a few of our shoes, shirts, slacks, suits, dresses and coats (and, of course, accessories). We now import around 96 percent of our clothing.

What other nation can afford to dismantle its manufacturing base and export high-paying middle-class jobs overseas to lesser, cheaper foreign labor markets and then buy back the goods those poorer people provide us?

And energy? Why, we Americans have money to burn. We spend $15-20 billion each and every month to import fuel for our cars, trucks, office buildings and few remaining factories and plants. We can be heedless to the consequences, because as Vice President Dick Cheney suggests, conservation doesn't work well anyway. So why be bothered with such irritating constraints?

Because we're a superpower, we needn't concern ourselves with silly little annoyances like trade and budget deficits. Who cares? What greater proof of our superpower status can there be than 30 consecutive years of trade deficits, evaporating surpluses in services and agricultural goods and even technology.

Our trade deficit in manufacturing soared nearly 300 percent from 1997 to 2005, surging to $662.5 billion. Our business and government leaders soothingly remind us that we are a technology economy and needn't be distracted by developments like the reversal of what was a $35-billion surplus in high-tech goods to what is now a $44-billion deficit. It's great to be The Superpower.

What about all that money we're burning? Not to worry. Spend it if you got it. Well, we really don't have it, actually. We're borrowing more than $2 billion a day to send to those lesser souls who are uncomfortably situated in poorer nations that can only aspire to our superpower status.

As to our government's budget deficit, again, that's not a problem. Our federal government keeps two sets of books: one that shows our budget deficit shrank to $319 billion last year and the Treasury Department set that shows $760 billion. Now, we don't want anyone to get needlessly anxious here. It turns out that our national debts and commitments actually stand at an incredible $49 trillion. But let's just keep that little number amongst ourselves.

The federal government uses a quaint accounting system that would be illegal for any large enterprise in America, and there are those who believe our government should be more transparent, or perhaps honest, if you will. One of those with a very unpopular wet-blanket attitude is David Williams of the Citizens Against Government Waste. "If this happened in the private sector, we would call the government 'Enron,' " Williams says.

David, David, David...A little less negativity, please. David Williams is among that small, insignificant and clearly irrelevant group of eccentric rationalists who care about cause and effect, truth and consequence.

Rep. Jim Cooper, a Tennessee Democrat, is among them as well. In his new book, Cooper writes about things like the fact that our federal government last year paid out $38 billion to the wrong people and that $20 billion of taxpayer money simply disappeared from the government's treasury.

Negativists like Williams and Cooper get all a-gaggle over the fact that the GAO can't certify the books of the Pentagon, the Department of Homeland Security, the Energy Department and NASA. They're even upset that the federal government has failed its annual audit for nine years in a row. Talk about Nervous Nellies.

So what if the U.S. debt rating is heading for junk status by 2025, according to Standard & Poor's. That's a problem for nations that aren't superpowers, don't you think?

When it comes to international relations, our superpower status is even clearer. Though admittedly, it is a little embarrassing to watch how easily the United States imposes its will on the Middle East and brings aspiring superpowers like China to heel on issues like human rights and democracy.

Looking back, I'm grateful that we didn't celebrate our emergence as the World's Only Superpower those many years ago. In our current exalted state, it's clear we were wise not to do so.

The trouble with doing something right the first time is that nobody appreciates how difficult it was.
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post #17 of 144 (permalink) Old 05-15-2009, 01:17 AM
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The number one problem in this country is the government doing what the government want, no matter how loud the people scream "foul!"
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post #18 of 144 (permalink) Old 05-15-2009, 01:57 AM
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The number one problem in this country is the government doing what the government want, no matter how loud the people scream "foul!"
haha yea i know. I thought of it this way, what would have had happened if people were given the choice. For example, lets say the first time the government got a clue about what was coming ahead and knew they were gonna be short of funds and held a vote. Choices would be something like this.

A) Borrow money from a foreign country. Not a solution cause normally when you borrow money you intend to be able pay it back.

B) Step in a stop the outsourcing which undermine the american economy and workers. Less people working for companies intead of working for themselvesand less taxes being paid in because of lower wages, etc

C) Let the exodus of jobs continue and in response to the dramatic loss of tax dollars, start massive budget cuts. Military cuts, education cuts etc. basically a step backwards for us as a nation

Im sure you get the idea and if there was an actual vote im sure people would pick option B, the government picked option A and didnt tell us. Now we got a real fucking mess, we borrowed more than we are worth with no fucking income to be able to pay it back....awesome. How and why in the fuck would you do this? And that is why i blame the goverment. The argument that people being at fault for buying the shit cheap came after this decision was made. They simply never should have made it to the shelves at all or atleast that cheap. A guy on another forum summed it up very well. Heres what he said

"This is a laughable debate.

Look, we all agree that the tax burden in the US is WAAYYYYY to high, and needs to be addressed. And yes, if we cut spending that would help immensely. But lets look at it in the confines of TODAY. As long as individual americans pay their fair share of taxes, so should Corporate America.

To say that closing "loopholes" is unfair to global competition is ridiculous. Right now the US has one of the lowest corporate Effective Tax rates in the world. And Corporate america has found ways to change the tax code in its favor, and in those instances where they couldn't change it, they found ways around it.

What corporate america has wanted for years, and has slowly gotten was an unfair advantage in the largest market in the world (the United States), while finding ways to get around, if not get completely out of any liability or costs for access to that marketplace. They want access to the american marketplace so they "base" their headquarters here for the advantages it gives them in importing their own products from their foreign based manufacturing (tariff free), yet they want the ability to base the operations off shore for the labor cost and tax advantages that it gives them.

They currently have their cake and are eating it to. What most fail to realize is that part of the cost of admission and access to the American marketplace is the employment of American workers. If you don't want to employ American workers, then you pay a tariff for access to the American marketplace. But over the course of the last 30-50 years, american corporations have found ways around the tariffs and around the taxes, and they arent even employing american workers for the most part. And somehow they have convinced some on the right that without these advantages they will fail. What we need to realize is first off thats bull*****, and secondly that even if individual companies fail, the industry does not. This is more about the protection of the who, not the what. The beauty of capitalism is that where one fails, their are 2 to take their place.

America corporation are the masters of PR. They use "global marketplace" when it fits their need/argument, and they use "american" when its fits the need/argument. And what we all need to realize is that without an american worker their is no american marketplace. Americans are shouldering more and more of the tax burdon for corporate america every day. Just look at what your local and state gubments are giving these companies so that they will "employ" people in your area. Hell in my city, the largest employer in the state pays NOTHING in local and state taxes so that they will stay here. But the downside is that they are one of the largest recipients of resources from the state and city. So who pays for that ? Well its me and you.

I hear it all the time when people complain about america...if you dont like it leave", well corporate america...are you listening ?"

The trouble with doing something right the first time is that nobody appreciates how difficult it was.
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post #19 of 144 (permalink) Old 05-15-2009, 08:01 AM
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the goverment should work for the people.instead the tables have turned and we work for it.

tyranny is around the corner if not already here.

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post #20 of 144 (permalink) Old 05-15-2009, 08:09 AM
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I dont know if any of you guys have seen Alex Jones The Obama Deception but if you have about 2 hours to kill or can watch it in short clips, its pretty interesting and scary what the government behind Obama has planned using him as a puppet
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post #21 of 144 (permalink) Old 05-15-2009, 08:12 AM
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post #22 of 144 (permalink) Old 05-15-2009, 08:21 AM
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Quote:
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To say that closing "loopholes" is unfair to global competition is ridiculous. Right now the US has one of the lowest corporate Effective Tax rates in the world. And Corporate America has found ways to change the tax code in its favor, and in those instances where they couldn't change it, they found ways around it.

I hear it all the time when people complain about america...if you dont like it leave", well corporate America...are you listening ?"
Really? the last time I looked we were ranked around 7th out of 80 countries with the highest corporate tax burden. That's bad, when corporations are taxed to death then they move out of the US to avoid taxes and take jobs with them.

You can't fix stupid, but you can vote it out.

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post #23 of 144 (permalink) Old 05-15-2009, 08:28 AM
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America. Please, wake up!!!

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post #24 of 144 (permalink) Old 05-15-2009, 08:36 AM
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What a bunch of fucking cry babies. If McCain was president he would be doing the same exact thing.


SPENDING MONEY




What was the national debt when Carter was president and what was it in 1991?

Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

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post #25 of 144 (permalink) Old 05-15-2009, 08:38 AM
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McCain's not the POTUS, Blowbama is so STFU
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post #26 of 144 (permalink) Old 05-15-2009, 08:40 AM
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I am just shaking my head.
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post #27 of 144 (permalink) Old 05-15-2009, 08:54 AM
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What a bunch of fucking cry babies. If McCain was president he would be doing the same exact thing.
And that makes it all ok. Great logic if you are a dumbfuck.
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post #28 of 144 (permalink) Old 05-15-2009, 09:17 AM
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What a bunch of fucking cry babies. If McCain was president he would be doing the same exact thing.


SPENDING MONEY




What was the national debt when Carter was president and what was it in 1991?
Are you still defending Carter? AFTER YOU ADMITTED he was a bad president? This president put us TRILLIONS in debt, no where near the debt Carter made. What exactly is your problem? What exactly ARE you arguing?
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post #29 of 144 (permalink) Old 05-15-2009, 09:27 AM
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Are you still defending Carter? AFTER YOU ADMITTED he was a bad president? This president put us TRILLIONS in debt, no where near the debt Carter made. What exactly is your problem? What exactly ARE you arguing?
Not to mention the amount of time he did this in. What makes anyone think this is going to slow down anytime soon?
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post #30 of 144 (permalink) Old 05-15-2009, 09:42 AM
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Not to mention the amount of time he did this in. What makes anyone think this is going to slow down anytime soon?
bullet just wants to argue. I even run with his logic, post real facts, and he only replies with another drone remark.

Go ahead bullet , why don't you give us your prediction on the DOW today?

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post #31 of 144 (permalink) Old 05-15-2009, 11:14 AM
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What a bunch of fucking cry babies. If McCain was president he would be doing the same exact thing.


SPENDING MONEY




What was the national debt when Carter was president and what was it in 1991?
Please stick to things you know. I know that limits you tremendously, but try. There are varying degree's of "spending money". Your "messiah" has tripled Dubya's spending in three months!

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post #32 of 144 (permalink) Old 05-15-2009, 06:17 PM
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Really? the last time I looked we were ranked around 7th out of 80 countries with the highest corporate tax burden. That's bad, when corporations are taxed to death then they move out of the US to avoid taxes and take jobs with them.
Doesnt matter, they are going to follow the money. A reporter the other day summed up nicely when he was talking about china. He said "China, the worlds third largest economy, which is well on its way to being the second largest....."

Do you think its gonna stop there? China will be the worlds largest economy and america will have nothing to offer and we will have this insane debt to pay aswell. Once china is number 1, they will push to have the dollar removed as world currency citing how unstable the US is and how stable they are. Same reasons that allowed america to become so powerful, used against us. Then the scary shit comes, when we cant pay them back and they come to collect....good bye america.

The trouble with doing something right the first time is that nobody appreciates how difficult it was.

Last edited by Slammy; 05-16-2009 at 04:53 AM.
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post #33 of 144 (permalink) Old 05-15-2009, 06:57 PM
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What a bunch of fucking cry babies. If McCain was president he would be doing the same exact thing.


SPENDING MONEY




What was the national debt when Carter was president and what was it in 1991?
OMG! Do you hate Carter too? I so hate that dude. He was the worst president ever!

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....LMAO @.... trying to figure out how to make a Utopian society!
In a perfect world the police would get paid to do nothing. So next time you see a cop eatin a donut, Yell.. Hey! Good Job!

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post #34 of 144 (permalink) Old 05-15-2009, 08:28 PM
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Please stick to things you know. I know that limits you tremendously, but try. There are varying degree's of "spending money". Your "messiah" has tripled Dubya's spending in three months!

Barry's only playing the shitty hand that was given to him.


You should be proud that he is at least spending like a repubicunt.








"With no fanfare and little notice, the national debt has grown by more than $4 trillion during George W. Bush’s presidency.

It’s the biggest increase under any president in U.S history.

On the day President Bush took office, the national debt stood at $5.727 trillion. The latest number from the Treasury Department shows the national debt now stands at more than $9.849 trillion. That’s a 71.9 percent increase on Mr. Bush’s watch."




http://www.cbsnews.com/blogs/2008/09...y4486228.shtml

Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

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Quote:
Originally Posted by slow99 View Post
When you pull in 20 million percent a year like BULLET, you have your share of 5 and 6 figure days!

GENUFLECT TO THE BULLET




FACTS ARE LIKE ACID TO THE SKIN OF REPUBLICONS
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post #35 of 144 (permalink) Old 05-15-2009, 09:54 PM
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OMG! Do you hate Carter too? I so hate that dude. He was the worst president ever!


Lol! Like we can't see the indentions on your chin from where Jimmys peanuts rested...
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post #36 of 144 (permalink) Old 05-15-2009, 11:03 PM
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the goverment should work for the people.instead the tables have turned and we work for it.

tyranny is around the corner if not already here.
We do have the right to do something about it...

1/19/09, the last day of Free America.
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post #37 of 144 (permalink) Old 05-16-2009, 12:48 AM
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The true believer is a college-educated school teacher.
This is true. My wife works for a youngish librarian at a local high school and she is all about obama. My wife had to bite her tongue during the election, being the only person that "saw thru" him. Youth and inexperience was in play, in a liberal environment, and my wife was there as the only conservative LOL.....

Time will tell, but IMO we've elected someone worse than jimmy carter.

And, the guy that jacked the deficit to sky high levels now says that it is unsustainable?

Last edited by mikeb; 05-16-2009 at 01:40 AM.
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post #38 of 144 (permalink) Old 05-16-2009, 08:40 AM
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Time will tell, but IMO we've elected someone worse than jimmy carter.

And, the guy that jacked the deficit to sky high levels now says that it is unsustainable?
It's salting the mine, so to speak, when everything comes crashing down. He knows that what he is doing can't be paid for. All he is doing is creating a future 'i told you so'

1/19/09, the last day of Free America.
Pericles "Freedom is the sure possession of those alone who have the courage to defend it. "

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post #39 of 144 (permalink) Old 05-17-2009, 03:05 PM
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Originally Posted by bullet View Post
Barry's only playing the shitty hand that was given to him.


You should be proud that he is at least spending like a repubicunt.


"With no fanfare and little notice, the national debt has grown by more than $4 trillion during George W. Bush’s presidency.

It’s the biggest increase under any president in U.S history.

On the day President Bush took office, the national debt stood at $5.727 trillion. The latest number from the Treasury Department shows the national debt now stands at more than $9.849 trillion. That’s a 71.9 percent increase on Mr. Bush’s watch."




http://www.cbsnews.com/blogs/2008/09...y4486228.shtml
First off, NO PRESIDENCY EVER HAD A SURPLUS. EVER

Second, I searched that "71.9% increase on debt" and guess what? Only Katie Couric's article comes up... A little strange don't you think? As a matter of fact, most of the facts in that report don't show up anywhere when I searched for it...


How about a real chart, with some real numbers:

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post #40 of 144 (permalink) Old 05-17-2009, 07:05 PM
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Bobba, quit making sense, dammit! You'll just throw them off using facts like that!

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post #41 of 144 (permalink) Old 05-17-2009, 07:47 PM
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But...despite running the biggest deficit in history, didn't Mr. 'Bama say he was going to cut the deficit in 1/2? I'm confused
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post #42 of 144 (permalink) Old 05-17-2009, 08:10 PM
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But...despite running the biggest deficit in history, didn't Mr. 'Bama say he was going to cut the deficit in 1/2? I'm confused


He didn't say half of what.


Maybe he meant half of his second years first quarter increase...
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post #43 of 144 (permalink) Old 05-17-2009, 08:10 PM
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But...despite running the biggest deficit in history, didn't Mr. 'Bama say he was going to cut the deficit in 1/2? I'm confused
Obviously, so is he! He doesn't know if he's winding his watch or scratching his ass...

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post #44 of 144 (permalink) Old 05-17-2009, 09:28 PM
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Originally Posted by Bobba Fett View Post
First off, NO PRESIDENCY EVER HAD A SURPLUS. EVER

Are you serious or just ignorant ?
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Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

Great spirits have always encountered violent opposition from mediocre minds at dfwstangs.net

MONEY NEVER SLEEPS

Quote:
Originally Posted by slow99 View Post
When you pull in 20 million percent a year like BULLET, you have your share of 5 and 6 figure days!

GENUFLECT TO THE BULLET




FACTS ARE LIKE ACID TO THE SKIN OF REPUBLICONS
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post #45 of 144 (permalink) Old 05-17-2009, 09:31 PM
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Bobba, quit making sense, dammit! You'll just throw them off using facts like that!

Hey Vert,


Can you explain these facts to me ?






Economy has fared better under Dem presidents
Arthur L. Blaustein

Sunday, October 19, 2008

Most Americans have one eye on the nation's financial crises and the other on the presidential election. And they are asking themselves, "Is John McCain or Barack Obama, the Democrats or the Republicans, better for the economic health of the country as well as for my own financial well-being?" That is the defining question of this election.

A businessman who voted for George Bush twice, and Bill Clinton in '96, told me, "Barack Obama sounds really impressive, and I have to admit that the goals of his social programs - particularly health care, education and the environment - seem good. But I'm worried the Democrats can't manage the economy as well, and they'll get into my wallet."

This sentiment is not rare. In past elections, pollsters have found that many voters believe that the Republicans do better with the economy. But is it true?

Let's look at the record.

During the 20th century, the Dow Jones industrial average rose 7.3 percent per year on average under Republican presidents. Under Democrats, it rose 10.3 percent - which means that investors gained a whopping 41 percent more. And the stock market declined further during George Bush's two terms.
Moreover, according to research from Professor Larry Bartels of Princeton, real middle class wage growth is double when a Democrat is president, contrasted to that growth under a Republican president.

Since World War II, Democratic presidents have increased the national debt by an average of 3.7 percent per year, and Republican presidents have increased it an average of 10.1 percent. During the same time period, the unemployment rate was, on average, 4.8 percent under Democratic presidents; it was 6.3 percent under Republicans.That's the historical record.

What about economic policies over the past 15 years? The Clinton-Gore administration presided over the longest peacetime economic expansion in our history. The national debt was reduced dramatically, the industrial sector boomed, wages grew and more Americans found jobs.

How has the Bush-Cheney team fared? In the past seven years, we have experienced the weakest job creation cycle since the Great Depression, record deficits, record household debt, a record bankruptcy rate and a substantial increase in poverty. We have gone from being the nation with the biggest budget surplus in history to becoming the nation with the largest deficit in history.
The Bush administration, supported by Republicans on Capitol Hill, pushed through a sweeping tax cut in 2001, under which the wealthiest 1 percent of Americans reaped 43 percent of the gain. In less than a year and a half, the federal government's 10-year projected budget surplus of $1.6 trillion had vanished. In 2000, we had a surplus of $236 billion. In 2004, we had a deficit of $413 billion. This dramatic reversal is the direct consequence of Bush's tax cuts - and McCain wants to pursue the same bankrupt policies.

Since the conventions, McCain and his surrogates have been pounding away at the Democrats, labeling them as the "tax and spend" party. Yet recent research has shown that MORE THAN 70 PERCENT OF OUR NATIONAL DEBT WAS CREATED BY JUST THREE REPUBLICAN PRESIDENTS: Reagan and the two Bushes.
There's an old expression in Las Vegas, "Figures don't lie and liars figure."




http://www.sfgate.com/cgi-bin/articl...type=printable

Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

Great spirits have always encountered violent opposition from mediocre minds at dfwstangs.net

MONEY NEVER SLEEPS

Quote:
Originally Posted by slow99 View Post
When you pull in 20 million percent a year like BULLET, you have your share of 5 and 6 figure days!

GENUFLECT TO THE BULLET




FACTS ARE LIKE ACID TO THE SKIN OF REPUBLICONS
bullet is offline  
post #46 of 144 (permalink) Old 05-17-2009, 09:35 PM
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Quote:
Originally Posted by bullet View Post
Hey Vert,


Can you explain these facts to me ?






Economy has fared better under Dem presidents
Arthur L. Blaustein

Sunday, October 19, 2008

Most Americans have one eye on the nation's financial crises and the other on the presidential election. And they are asking themselves, "Is John McCain or Barack Obama, the Democrats or the Republicans, better for the economic health of the country as well as for my own financial well-being?" That is the defining question of this election.

A businessman who voted for George Bush twice, and Bill Clinton in '96, told me, "Barack Obama sounds really impressive, and I have to admit that the goals of his social programs - particularly health care, education and the environment - seem good. But I'm worried the Democrats can't manage the economy as well, and they'll get into my wallet."

This sentiment is not rare. In past elections, pollsters have found that many voters believe that the Republicans do better with the economy. But is it true?

Let's look at the record.

During the 20th century, the Dow Jones industrial average rose 7.3 percent per year on average under Republican presidents. Under Democrats, it rose 10.3 percent - which means that investors gained a whopping 41 percent more. And the stock market declined further during George Bush's two terms.

Moreover, according to research from Professor Larry Bartels of Princeton, real middle class wage growth is double when a Democrat is president, contrasted to that growth under a Republican president.

Since World War II, Democratic presidents have increased the national debt by an average of 3.7 percent per year, and Republican presidents have increased it an average of 10.1 percent. During the same time period, the unemployment rate was, on average, 4.8 percent under Democratic presidents; it was 6.3 percent under Republicans.

That's the historical record.

What about economic policies over the past 15 years? The Clinton-Gore administration presided over the longest peacetime economic expansion in our history. The national debt was reduced dramatically, the industrial sector boomed, wages grew and more Americans found jobs.

How has the Bush-Cheney team fared? In the past seven years, we have experienced the weakest job creation cycle since the Great Depression, record deficits, record household debt, a record bankruptcy rate and a substantial increase in poverty. We have gone from being the nation with the biggest budget surplus in history to becoming the nation with the largest deficit in history.

The Bush administration, supported by Republicans on Capitol Hill, pushed through a sweeping tax cut in 2001, under which the wealthiest 1 percent of Americans reaped 43 percent of the gain. In less than a year and a half, the federal government's 10-year projected budget surplus of $1.6 trillion had vanished. In 2000, we had a surplus of $236 billion. In 2004, we had a deficit of $413 billion. This dramatic reversal is the direct consequence of Bush's tax cuts - and McCain wants to pursue the same bankrupt policies.

Since the conventions, McCain and his surrogates have been pounding away at the Democrats, labeling them as the "tax and spend" party. Yet recent research has shown that more than 70 percent of our national debt was created by just three Republican presidents: Reagan and the two Bushes.

There's an old expression in Las Vegas, "Figures don't lie and liars figure."




http://www.sfgate.com/cgi-bin/articl...type=printable
LOL! Liars do figure...like Clinton did! You're not that stupid are you? He manufactured those numbers years on end. All you have to do is access the U.S. Treasury numbers, and it will show a $281 billion LOSS during his term. Try again, my goose-stepping comrade!

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post #47 of 144 (permalink) Old 05-17-2009, 09:42 PM
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Here's the data straight from US Congressional Budget Office,

So they are fake now ?


Man you republicants get angry when you get backed into a corner with the truth.
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Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

Great spirits have always encountered violent opposition from mediocre minds at dfwstangs.net

MONEY NEVER SLEEPS

Quote:
Originally Posted by slow99 View Post
When you pull in 20 million percent a year like BULLET, you have your share of 5 and 6 figure days!

GENUFLECT TO THE BULLET




FACTS ARE LIKE ACID TO THE SKIN OF REPUBLICONS
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post #48 of 144 (permalink) Old 05-17-2009, 09:44 PM
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Quote:
Originally Posted by bullet View Post
Hey Vert,


Can you explain these facts to me ?






Yet recent research has shown that MORE THAN 70 PERCENT OF OUR NATIONAL DEBT WAS CREATED BY JUST THREE REPUBLICAN PRESIDENTS: Reagan and the two Bushes.






Republicans drove the car off the cliff and democrats had to do all of the work getting it back out of the ditch

Great spirits have always encountered violent opposition from mediocre minds at dfwstangs.net

MONEY NEVER SLEEPS

Quote:
Originally Posted by slow99 View Post
When you pull in 20 million percent a year like BULLET, you have your share of 5 and 6 figure days!

GENUFLECT TO THE BULLET




FACTS ARE LIKE ACID TO THE SKIN OF REPUBLICONS
bullet is offline  
post #49 of 144 (permalink) Old 05-17-2009, 10:07 PM
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Originally Posted by forever_frost View Post
But...despite running the biggest deficit in history, didn't Mr. 'Bama say he was going to cut the deficit in 1/2? I'm confused
yeah... half of 1000% originally planned increase

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post #50 of 144 (permalink) Old 05-17-2009, 10:09 PM
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Yep. Straightening out Jimmy Carter's bullshit, giving Clinton's TRUE numbers, and two wars...Even you can "google" the U.S. Treasury numbers on Clinton...It's all smoke and mirrors, brother. Just like Fidel Obama...
... no one is angry. I just don't like folks pissing on my hat, and telling me it's raining. I can't believe you buy into all that B.S.

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