Very interesting Glenn Beck segment

[toc]

'The budget defict in reality is close to a trillion a year'

2004 it was roughly 400B. There is an interesting issue that % of GDP it is roughly 4% and Expenditures are roughly 20%. This means that more items the government allows the public to do privately more efficiencies should get in. Military/Police/Education in private hands any time soon?

 

[arealpissedgoy]

Quote from toc:

Ravi Batra predicted fall of communism in 1980s and fall of Capitalism by 2010. Free Market Socialism is the way to go?

not 2010. He said 2000.

from his own website:
http://www.ravibatra.com/forecast.htm


Why do you feel the need to make up your own things?

 

[MKTrader]

Didn't he also predict a worldwide depression in 1995?

Also, as Ron Paul says

“Capitalism should not be condemned, since we haven’t had capitalism. A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank."

Quote from toc:

Ravi Batra predicted fall of communism in 1980s and fall of Capitalism by 2010. Free Market Socialism is the way to go?

 

[balda]

Quote from toc:

Ravi Batra predicted fall of communism in 1980s and fall of Capitalism by 2010. Free Market Socialism is the way to go?

which county ever had a communism?

even USSR stands for Union of Soviet Socialistic Republics.

USSR never had a communism.

 

[toc]

'Why do you feel the need to make up your own things?'

thanks for the correction.....Bitch!

 

[toc]

Bitches! I was not wrong after all!

http://www.financialsense.com/editorials/turk/2008/0109.html

For example, the government reports that its deficit for the fiscal year ending September 30, 2007 was $162.8 billion. In other words, expenses exceeded revenue by this amount. This shortfall of course needs to be made up by borrowing, which the report itself acknowledges by saying: “The Government borrows from the public to finance the gap between expenditures and revenues”. But a little digging into the numbers reveals that the government is borrowing far more than its reported deficit. Total federal debt during the past fiscal year actually grew from $8,530.4 billion in 2006 to $9,030.6 billion in 2007, which is a $500.2 billion increase – or more than three-times the reported deficit.

 

[jmccain]

That's because the gvt borrows the SS surplus and promises to pay it back later. That is not reflected in the 162B official number.

Just like you and me borrowing from our kid's college account in order to buy groceries. Not very smart.

Ah, also the war is on a different set of books as emergency spending and not included in the 162B either.

Like Ron Paul said, if we ran our company books this way, we'd be going to jail for a long time.

Quote from toc:

Bitches! I was not wrong after all!

http://www.financialsense.com/editorials/turk/2008/0109.html

For example, the government reports that its deficit for the fiscal year ending September 30, 2007 was $162.8 billion. In other words, expenses exceeded revenue by this amount. This shortfall of course needs to be made up by borrowing, which the report itself acknowledges by saying: “The Government borrows from the public to finance the gap between expenditures and revenues”. But a little digging into the numbers reveals that the government is borrowing far more than its reported deficit. Total federal debt during the past fiscal year actually grew from $8,530.4 billion in 2006 to $9,030.6 billion in 2007, which is a $500.2 billion increase – or more than three-times the reported deficit.