US Default Inevitable
07-13-2011, 12:49 PM
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07-13-2011, 01:30 PM
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Kind of overly pessimistic this guy, isn't he? Fact is, Europe, the Middle East, Africa, and even Asia cannot afford to have the American financial system fail. It would bring theirs down as well.
07-13-2011, 01:50 PM
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I don't know what they are going to do about it.. They can't stop funding major programs like Social Security (which is already screwed up), but they can't keep charging up TRILLIONS in debt over bills like "The Stimulus", "Obamacare" and other new entitlement programs either. All I know is, I am extremely disappointed in Obama. All that "Hope and Change" was a bunch of bullshit.
...And the thing about America is uninformed people who barley pay attention to what's really going on, vote for him:
A quote from some chick named Diva382 on another forums: "And even though I voted for Obama in 2008 & will vote for him again in 2012, he's really NOT doing enough about unemployment."
People like her agree he isn't doing $hit to help unemployment or the economy, or cut back spending....BUT they will vote for him again!! WTF!?!?!? And I wonder why..... Maybe it's because he's .......nevermind. I don't mean to offend anyone.
--
Don't get me wrong, I don't side with either party(the majority of both parties are just a bunch of greedy bastards), BUT If I was African American, and I voted for him, I would be even more disappointed right now.
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The way things are going, I have no idea what we can expect with in the next year or so.
...And the thing about America is uninformed people who barley pay attention to what's really going on, vote for him:
A quote from some chick named Diva382 on another forums: "And even though I voted for Obama in 2008 & will vote for him again in 2012, he's really NOT doing enough about unemployment."
People like her agree he isn't doing $hit to help unemployment or the economy, or cut back spending....BUT they will vote for him again!! WTF!?!?!? And I wonder why..... Maybe it's because he's .......nevermind. I don't mean to offend anyone.
--
Don't get me wrong, I don't side with either party(the majority of both parties are just a bunch of greedy bastards), BUT If I was African American, and I voted for him, I would be even more disappointed right now.
--
The way things are going, I have no idea what we can expect with in the next year or so.
07-13-2011, 02:03 PM
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The thing is, what is Obama supposed to do about unemployment? He doesn't make the laws, nor does he pass them. That is the job of congress, not the president, and this congress has done nothing to help things because they want the Obama administration to look like a failure.
As for the debt issue: Another point is that before the US defaults the congress and senate can also call in all the loans we give/ have given to other countries. That would multiples of billions back in the coffers. Or am I the only one that noticed the US was holding back $300 million in aid to Afghanistan this past week? Add that to the other aid we dole out annually ($10 billion to Puerto Rico for instance) and there is no deficit.
Instead the Republicans choose to continue to push for less taxes for the wealthy leaving more middle class Americans carrying more of the burden for the country. BTW, they were NOT tax cuts under Bush, they were tax spending, essentially taking money off the books of the Federal government and putting it in the hands of the top 1% of earners.
I agree with you that both parties are corrupt, and in the end the lobbyist that writes the biggest check wins. That said, as a Hispanic man and the child of immigrants I cannot and will not ever vote Republican in good conscience - I know they don't want me here, so for that I say "Fuck them"
As for the debt issue: Another point is that before the US defaults the congress and senate can also call in all the loans we give/ have given to other countries. That would multiples of billions back in the coffers. Or am I the only one that noticed the US was holding back $300 million in aid to Afghanistan this past week? Add that to the other aid we dole out annually ($10 billion to Puerto Rico for instance) and there is no deficit.
Instead the Republicans choose to continue to push for less taxes for the wealthy leaving more middle class Americans carrying more of the burden for the country. BTW, they were NOT tax cuts under Bush, they were tax spending, essentially taking money off the books of the Federal government and putting it in the hands of the top 1% of earners.
I agree with you that both parties are corrupt, and in the end the lobbyist that writes the biggest check wins. That said, as a Hispanic man and the child of immigrants I cannot and will not ever vote Republican in good conscience - I know they don't want me here, so for that I say "Fuck them"
07-13-2011, 03:21 PM
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The thing is, what is Obama supposed to do about unemployment? He doesn't make the laws, nor does he pass them. That is the job of congress, not the president, and this congress has done nothing to help things because they want the Obama administration to look like a failure.
As for the debt issue: Another point is that before the US defaults the congress and senate can also call in all the loans we give/ have given to other countries. That would multiples of billions back in the coffers. Or am I the only one that noticed the US was holding back $300 million in aid to Afghanistan this past week? Add that to the other aid we dole out annually ($10 billion to Puerto Rico for instance) and there is no deficit.
Instead the Republicans choose to continue to push for less taxes for the wealthy leaving more middle class Americans carrying more of the burden for the country. BTW, they were NOT tax cuts under Bush, they were tax spending, essentially taking money off the books of the Federal government and putting it in the hands of the top 1% of earners.
I agree with you that both parties are corrupt, and in the end the lobbyist that writes the biggest check wins. That said, as a Hispanic man and the child of immigrants I cannot and will not ever vote Republican in good conscience - I know they don't want me here, so for that I say "Fuck them"
As for the debt issue: Another point is that before the US defaults the congress and senate can also call in all the loans we give/ have given to other countries. That would multiples of billions back in the coffers. Or am I the only one that noticed the US was holding back $300 million in aid to Afghanistan this past week? Add that to the other aid we dole out annually ($10 billion to Puerto Rico for instance) and there is no deficit.
Instead the Republicans choose to continue to push for less taxes for the wealthy leaving more middle class Americans carrying more of the burden for the country. BTW, they were NOT tax cuts under Bush, they were tax spending, essentially taking money off the books of the Federal government and putting it in the hands of the top 1% of earners.
I agree with you that both parties are corrupt, and in the end the lobbyist that writes the biggest check wins. That said, as a Hispanic man and the child of immigrants I cannot and will not ever vote Republican in good conscience - I know they don't want me here, so for that I say "Fuck them"
07-13-2011, 04:02 PM
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...And the thing about America is uninformed people who barley pay attention to what's really going on, vote for him:
A quote from some chick named Diva382 on another forums: "And even though I voted for Obama in 2008 & will vote for him again in 2012, he's really NOT doing enough about unemployment."
People like her agree he isn't doing $hit to help unemployment or the economy, or cut back spending....BUT they will vote for him again!! WTF!?!?!? And I wonder why..... Maybe it's because he's .......nevermind. I don't mean to offend anyone.
A quote from some chick named Diva382 on another forums: "And even though I voted for Obama in 2008 & will vote for him again in 2012, he's really NOT doing enough about unemployment."
People like her agree he isn't doing $hit to help unemployment or the economy, or cut back spending....BUT they will vote for him again!! WTF!?!?!? And I wonder why..... Maybe it's because he's .......nevermind. I don't mean to offend anyone.
07-13-2011, 04:29 PM
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Wounds are still fresh from the damage that the prior administration caused to the economy and there isn't anything close to a clearly electable candidate in the current GOP group that have shown their hand. Furthermore, it's pretty clear that the GOP strategy is to prolong the current problem hoping it will extend to closer to election time. It is easy to criticize and talk about this not being the kind of change that Obama promised. The reality is that Obama's job has been made much more difficult by the GOP's obstructionism and seemingly their willingness to put the economy at risk to score political capital - while doing their utmost to prolong and not resolve the problems. Frankly, it's remarkable what has been done given the climate within which the administration is operating. Either way, I've yet to see a credible alternative to Obama and perhaps that is why he remains the more likely winner in 2012.
But Steven, what about Michelle Bachman (oh crap, I couldn't make it through "But Steven" with a straight face)
07-13-2011, 04:32 PM
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07-13-2011, 04:42 PM
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What percentage do you see the middle class paying of the overall tax burden?
http://www.cbpp.org/cms/index.cfm?fa...51&emailView=1
07-13-2011, 04:46 PM
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What percentage do you see the middle class paying of the overall tax burden?
http://www.cbpp.org/cms/index.cfm?fa...51&emailView=1
http://www.cbpp.org/cms/index.cfm?fa...51&emailView=1
How much (due to loopholes) do the wealthy actually pay as opposed to the middle class percentage-wise?
Fact is Reagan raised taxes, Clinton raised taxes, and yet somehow the worst economic time in between were both when Bush's were in office - go figure.
