$1 Billion deeper 5 hours after you read this

[MA-Caver]

Scary? Oh my yes... we are on the economic path that the Soviets were on and it's gonna hurt us a lot worse than it hurt them.
There is a video accompany the story.

Drowning in Debt: What the Nation's Budget Woes Mean for You

http://abcnews.go.com/Politics/nati...cit-scary-forecast-taxpayers/story?id=9854459
American political and economic leaders have sounded the alarm for years about the red ink rising in reports on the federal government's fiscal health.
But now the problem of mounting national debt is worse than it ever has been before with -- potentially dire consequences for taxpayers, according to a report by the nonpartisan Peterson-Pew Commission on Budget Reform.
"It keeps me awake at night, looking at all that red ink," said President Obama in Nashua, N.H., on Feb. 2. "Most of it is structural and we inherited it. The only way that we are going to fix it is if both parties come together and start making some tough decisions about our long-term priorities."

 

[chaos1551]

I am terrified.

David43515's signature reads:

“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed, lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” Cicero, 55 BC

I like his signature.

Didn't Rome fall shortly after 55 BC?

 

[terryl965]

We live in the greatest country in the world, lets go deeper and deeper into debt to make the masses feel good about themselfs.

 

[chrispillertkd]

"It keeps me awake at night, looking at all that red ink," said President Obama in Nashua, N.H., on Feb. 2. "Most of it is structural and we inherited it. The only way that we are going to fix it is if both parties come together and start making some tough decisions about our long-term priorities."

Oh, I totally believe he's sincere, especially given his budget, Stilumus II, his CBO projected deficits, etc. He's really thinking about how to solve all the spending problems we have. Yep. Really.

In the words of Jay Rockefeller (that evil conservative): "He's beginning to be not believable to me."

Pax,

Chris

 

[crushing]

"Most of it is structural and we inherited it."

*Sigh*

 

[Bob Hubbard]

You can't spend yourself out of debt.

You can't continue to pay for redundant and bloated social programs.

I'm sorry, but stop extending unemployment payouts. Make elected officials PAY for their own health plans, contribute to the social programs, drive their OWN cars and buy their own plane tickets. Stop bailing out incompetent companies, stop spending money on pork, and fire the 25% of government employees who collect pay but do NO work.

Here's a thought. Go save 20 Billion Dollars.
Start with this list
http://www.cagw.org/

 

[MA-Caver]

You can't spend yourself out of debt.

You can't continue to pay for redundant and bloated social programs.

I'm sorry, but stop extending unemployment payouts. Make elected officials PAY for their own health plans, contribute to the social programs, drive their OWN cars and buy their own plane tickets. Stop bailing out incompetent companies, stop spending money on pork, and fire the 25% of government employees who collect pay but do NO work.

Here's a thought. Go save 20 Billion Dollars.
Start with this list
http://www.cagw.org/

It's not so much that we're spending ourselves out of debt but borrowing at interest to pay off the interest off of what we borrowed.

Wanna get out of debt... print your own money... get rid of the goddamned Federal Reserve (a privately owned BANK) and have the government start printing it's own money like it should've been doing.

 

[blindsage]

Wanna get out of debt... print your own money... get rid of the goddamned Federal Reserve (a privately owned BANK) and have the government start printing it's own money like it should've been doing.

The Department of the Treasury prints U.S. currency, a branch of the U.S. government. And before you start trying to print us out of debt you should look up something called inflation. Also, despite your hatred of the Federal Reserve, it is our equivalent of a central bank and was created by an act of Congress. It is NOT a privately owned bank (but please tell me who owns it since you disagree, and who gets it's profits). It is an independent institution within the government that has both public and private elements. You may not like the Federal Reserve system, or even the idea of a central bank (a lot of people don't), but your information about it is not correct.

 

[Bob Hubbard]

http://en.wikipedia.org/wiki/Federal_Reserve_Bank

 

[Bob Hubbard]

Jefferson and Madison pretty much predicted the problems we've got.

 

[Bruno@MT]

I am terrified.

David43515's signature reads:

“The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed, lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” Cicero, 55 BC

I like his signature.

Didn't Rome fall shortly after 55 BC?

No, that was quite a bit later.
Rome imploded for several reasons. It's economy no longer sustained by conquest, the legions were bankrupting rome and they were being stretched thin across the length of a too-long border by a crumbling leadership that had split the empire into a western and eastern empire.

When the barbarian hordes punctured the thin line between the western roman empire and the rest of the world, the effect was the same as puncturing a balloon. Once they were in they got straight to the soft squishy bit in the middle.

The eastern roman empire endured until 1400 something.

 

[celtic_crippler]

The alleged quote from Marcus Tullius Cicero began circulating on the Internet in October, 2008. It is based on an actual statement, but additional lines were added to it in order to make it better match some of the same economic issues currently plaguing the United States.

The actual quote:"The arrogance of officialdom should be tempered and controlled, and assistance to foreign hands should be curtailed, lest Rome fall."

Truth or Fiction.Com

 

[Deaf Smith]

This all kind of reminds me of the 'Book of Tao'.

'The people starve when rulers impose heavy taxes. That is why people starve.

The people are rebellious when rulers meddle in their affairs. That is why people are rebellious.

The people do not fear death when they fight for a better life. That is why they do not fear death."

Deaf