Public Debt to Surpass GDP by 2012 Under Obama
- Thread starter pspr
- Start date
Yet another MORONIC anti-Obama thread masquerading as "Economics". Shit like this belongs in chit chat.
Military spending is now in excess of 50% of discretionary spending but I have yet to see ONE moronic thread by the resident losers on cutting military spending.
It's time to pay up for Reagan + Bush wars funded with deficit spending, exponential growth in republican govt. and tax cuts for corporate buddies.
Halliburton was close to filing bankruptcy till Cheney handed them the no-bid contracts.
Instead of whining like little girlie-men start providing solutions. I'd like to start with ELIMINATING ALL FARM AID.
Otherwise, in nut-wing language, y'all bend over and take it like a man. It's going to get much worse.
Military spending is now in excess of 50% of discretionary spending but I have yet to see ONE moronic thread by the resident losers on cutting military spending.
It's time to pay up for Reagan + Bush wars funded with deficit spending, exponential growth in republican govt. and tax cuts for corporate buddies.
Halliburton was close to filing bankruptcy till Cheney handed them the no-bid contracts.
Instead of whining like little girlie-men start providing solutions. I'd like to start with ELIMINATING ALL FARM AID.
Otherwise, in nut-wing language, y'all bend over and take it like a man. It's going to get much worse.
Look at the chart - it began under Reagan.
Thank you. Unlike most of the polluted board, someone here gets it.
It's time to pay for Trickle-my-piss-on-your-head Reaganomics. His VP politely called it VOODOO economics.
TIME TO PAY THE PIPER.
Can you say DOW 4000
TRADE OF A LIFETIME
Thanks Reagan!
Thank you. Unlike most of the polluted board, someone here gets it.
It's time to pay for Trickle-my-piss-on-your-head Reaganomics. His VP politely called it VOODOO economics.
TIME TO PAY THE PIPER.
Can you say DOW 4000
TRADE OF A LIFETIME
Thanks Reagan!
Quote from Misthos:
Public debt is already well over 100% of gdp.
Don't forget, more so than any other country in the world, the US has a HUGE municipal, county, and state bond market. Also don't forget the GSE debts. Fannie and Freddie are not counted, yet we are on the hook.
From Jesse's Cafe Amercain blog:
http://jessescrossroadscafe.blogspot.com/2010/06/us-total-government-debt-reaches-130-of.html
This is not a democrat or republican thing. Look at the chart - it began under Reagan. Both parties need to spend to keep the economy from imploding. A large part of the economy, IMHO, has been a fiction for about 30 years.
So, we're worse then Greece in terms of debt to GDP, we have the same percentage of public employees as they do, our deficit to gdp is also similar (over 10%).
Oh yeah... we have a printing press. That's where we differ from Greece. So basically, we delay belt tightening today for a catastrophe tomorrow.
"There is no means of avoiding the final collapse of a boom brought about by credit expansion. The alternative is only whether the crisis should come sooner as the result of voluntary abandonment of further credit expansion, or later as a final and total catastrophe of the currency system involved."
-Ludwig von Mises
Obama June 2008:
So two years ago the messiah had the power to slow the rise of the oceans and heal the planet, but now he's completely powerless when it comes to reining in deficit spending? Also, what war did his oneness end? As far I can tell, US forces are still fighting in Iraq and Afghanistan.
When your neighbor gets laid off, that's a recession. When you lose your job, that's a depression. And when Obama gets put on an employment, is when we'll start to see a recovery.
So two years ago the messiah had the power to slow the rise of the oceans and heal the planet, but now he's completely powerless when it comes to reining in deficit spending? Also, what war did his oneness end? As far I can tell, US forces are still fighting in Iraq and Afghanistan.
When your neighbor gets laid off, that's a recession. When you lose your job, that's a depression. And when Obama gets put on an employment, is when we'll start to see a recovery.