Obama Debt expected to reach 2/3rds of GDP by 2019

Oil hits $71 on weakening dollar

Gold Passes $1000 per ounce.

I'm quite surprised to see this sort of attitude coming from you.

Blaming Obama for the state of the economy is like blaming spoons for obesity.

The problem has been growing since 1979 when America's balance of trade starting going increasingly negative. Americans have nobody but themselves to blame for this situation. Of course if they had taken personal responsibility instead of looking for someone to blame then it likely wouldn't have happened in the first place.

jg
-LOL, man isn't that the truth! Rick I'm surprised at this thread. you guys don't know when you have something good. whats the reason for the hang the good guys out to dry attitude! Tom

I would agree with you If I had voted for socialism and the destruction our economy.

John, the cancer goes back to the founding of the Federal Reserve. Until now, it's been a slow cancer that the economy has been able to absorb.

quote:

the cancer goes back to the founding of the Federal Reserve.

I agree... the problems really started when the US went off the gold standard.

Placing our children and grandchildren in debt so we can spend more than we earn is a counterproductive way to run a household or a nation. The economic cancer is through almost all levels of society. We've done this to ourselves, the government hasn't been ordering us to consume cheap foreign products instead of making sure our neighbors had a job too.

We would still be in the same mess at this time even if the other party had 'won' the popularity contest that passes for democracy in N.America. Up until they lost control, the current opposition party was fostering the same attitude of increasing indebtedness to keep the false economy rolling, while trying not to increase the direct costs to the current taxpayers. Both parties have been relentlessly pursuing the idea of taxing future taxpayers to spend beyond our present means of sustainability. Blaming the boss is a cop out.

The current boss is more transparent than the previous one. This is bound to cause vocal opposition. If more people become engaged with the issues instead of ad hominem attacks, then we're moving toward a solution. When voter turnout starts to increase on all levels of government then we'll see some real progress towards turning this around. If voter turnout was greater than 90% then we would see politicians who are more accountable to their constituents instead of big business.

Ironic how some on the right want to make this an issue now. The savior RR followed by GHWB, WJC and GWB set us on this destructive supply side corporatist path with nary a squeal from them and now listen. How hypocritical.

quote:

nary a squeal from them and now listen. How hypocritical.

I'd hardly say that. The same people who praised Bush added the caveat of his spending being excessive. Its just that the current Prez. is spending at 3x the rate GHWB ever achieved, so the squealing is 3x louder.

I wonder where all the liberals who squealed about GHWB spending are now; if GHWB'S spending at "64mph" was "OH! SO HORRIBLE!!" How are they comfortable with BHO at "174mph"?

And if you take the time to watch that video I linked too, I think the more important thing to note is that the fasted increase in the debt occurred in ANY instance where the Prez. and the Congress were of the same political party: no single party's fault...well, maybe BOTH party's faults is the more accurate phrase.

OMG, just like the speach to schools yesterday, the right wing whack jobs made a big stink and ran around with thier panties all wadded up "Dear God! He is trying to push his nazi agenda on our children!" Frickin morons, he siad stay in school, read books, do your home work, stay out of trouble and mind your parents, some nazi agenda Some people are just wastes of perfectly good oxygen.

In the United States 2008 presidential election elligible voter turnout was 58%, Obama beat McCain by 52 percent to 46 percent; 30% of the eligible voters chose Obama and 27% chose McCain. More importantly, the majority of the eligible voters chose not to participate. Alexis de Tocqueville, author of Democracy in America, said that “ in a democracy, the people get the government they deserve ". In the United States, negative campaigning and character attacks are more common than elsewhere, which suppresses voter turnouts.

The function of the opposition party in a democracy with fixed election dates, is to make the administration in power act responsibly, it's not to attack the leader, overthrow the government or derail the legislative process. Those misguided people who still can't think beyond attacking the person who happens to be the President are the biggest part of the problem in America today.

There is a large group of people in the United States who although they will never admit it cannot stomach the idea of a black man as president.
I was recently banned from glocktalk.com for calling out several posters using names like "primate in chief", or, "the first family in the mist" refering to the first family, I call these inbred mouth breathing knuckle draggers out and I get banned for it, there are hundreds of thousands of these creatures out there.

quote:

There is a large group of people in the United States who although they will never admit it cannot stomach the idea of a black man as president.

Sad but true eh...
I could not believe my ears while listening to the frenzy of certain parents about THEIR President speaking to their children on the news last night... Racism is the first thing that came to my mind...
The sad part is look at what those people are teaching their children
Is it 2009 or 1909.
Disgraceful!
And imagine YOU were baned for calling out racists, must be quite a forum to allow that nonsense to go on. In Canada it is a crime to make derogatory racist remarks with hefty penalty's.

I would have thought after the last president the US people would be more enthusiastic about the new president, BHO did inherit a few issues to sort out and at least he can speak and talk strait forward
But hey what the hell do I know I am just a foreigner looking in!

Jon

Guess who isn't covering the speech tonight, Faux (formerly refered to as fair and balanced) News.

quote:

Originally posted by fabricator:
Guess who isn't covering the speech tonight, Faux (formerly refered to as fair and balanced) News.

NOT TRUE....I watched it tonight on FOX News....

I love my country, but I sure hate politics and what it has become and what it is doing to the American's that used to call each other neighbor. We've been divided so much by 24 hour coverage and politicians that play to the camera in an attempt only to win the next election and not to do what is best for America. They're mostly spineless liars.

The most serious problem we face in this country is not the deficit, terrorism, or even social differences, it's that we have lost the ability to have intellectually honest debates. No two persons fully agree on everything, but we should be able to discuss the merits of our beliefs without our words being twisted, or misconstrued to advance the cause of others.

I've made no secret of my world view on this forum (Christian conservative), and would gladly tell you what I believe and why I believe it AND most importantly I'll respect what you believe even though I may disagree with you. What I also HATE is equating me with any racist group be it white or black or any other racist group because I'm conservative in my economic and social views.

UNITED WE STAND, DEVIDED WE FALL. Right now America is being divided by self centered politicians, followed by unsuspecting sheep on all sides. And when she surely falls apart, we'll all surely fall together.

So, my fellow American brothers and sisters, search for truth and demand honesty and integrity from our politicians AND ourselves.

God Bless.

IROKCJ5

Well said Irok.
Funny thing about poticians is if you break down the work polytic you'll see that poly means many and well a tic is a blood sucking parasite.
There's still hope though.

Rick, you started a firestorm when you brought Obama into it. You should know it's not politically correct to blame him. It's true Washington is adding to our debt like drunken sailors right now. It's also true that Obama didn't start it and that for at least the last 30+ years the party in power has spent taxpayer's money to stay in power, with the possible exception of Reagan's first term. Yea I lean a little right of center, but I also remember the Republican's "contract with America" that they immediately breeched upon taking control of both houses. There are few white hats inside the beltway.

Unfortunately I think your basic facts are right and that our increased debt will result in a lower dollar and higher inflation. Might not be all bad in some ways, it should help our domestic manufacturers, but the consumers (you and I) are going to pay the price. Could be the end of an era for the U.S., a fact that some on this board would probably cherish.

Hugh

So in the Presidents speech tonight a Congressman from SC yells out that Obama is telling a lie. The people of SC must be so proud.

I'm mixed about the "New Deal" type of economics.
And, agree the devastation of letting some big corporations fall would have been unacceptable (although I'm still a bit puzzled about the benefits of sending GM & Chrysler through Bankruptcy).

However, I'd agree that there needs to be an end to it. No sense in planning on keeping the deficit running for the next 3 presidential terms.

Part of the next decade budget needs to include some plan for a BALANCED BUDGET.

If the budget can be balanced, then inflation will take care of the National Debt.

I suppose the big question is why the Federal Government has to sell bonds, other than to provide the rich a sheltered place to hide their money.

I have heard it said that by 2020 the average family will have to spend 41% of income on health care under the current rate of rising costs. Anyone know it that is right or wrong?

Not my country so I will only ask a question.

The US spends more on health care as a percentage of GDP than any other developed nation.
The US has arguable the worst health care coverage of any developed nation.

Why?

quote:

Originally posted by RickDaTech:
I would agree with you If I had voted for socialism and the destruction our economy.

John, the cancer goes back to the founding of the Federal Reserve. Until now, it's been a slow cancer that the economy has been able to absorb.

DING DING DING DING! GIVE THAT MAN A SILVER STAR! Truer words have rarely been uttered on this forum...