Various quotations on deficit spending:

What do you think?
Is it time we began to pay the grandkids back, for the $Trillions we've already taken from them?

[I hope you don't think this topic is "#2", even though it is!]

did they ever find the trillions that are missing ?
that would put a start to it

and if they cut down on there spending it would slow that down

but they unlike us , can spend more then they make

what a world we would live in if we ran are lives like they do

and unfortunately the knee jerk reaction is always to start by slashing useful manpower based areas first. to scare the populace into relaxing their drive for reducing budgets and deficits

good thing obama is bringing down the debt...


Just six years ago when President Obama took office, total debt stood at $10.6 trillion, which means it now has increased by almost $8 trillion—roughly 70 percent—during his tenure as president.

What exactly is "useful manpower based areas?"

I think most of the world is in debt to each other.

I think it's amazing that the major creditors of Greece haven't rolled tanks in and just taken over the country, or taken whatever assets it wants.

Oh wait. That's Germany. I don't think they want to start a new war which would instigate all the countries that are indebted to each other to possibly follow suit.
Wouldn't that be messed up? WW III started by Germans just collecting on their debt?
Maybe 3rd times the charm for 'em?


That's not really possible.

Especially with this government.

GDP would have to have years of unprecedented growth never before seen.

Taxes, as a percent of GDP, for years would have to be higher than they every have been before.

Interest rates would have to continue to be non existent so the principal can actually be paid down.

And spending would have to be cut in draconian fashion, not just reduction in growth rate.

Good luck getting that to happen.

Although...maybe it is possible if we continue along the path of "pass it to find out what's in it" or "don't think about it until later, just hurry up and get it passed" or "better to ask forgiveness than permission, what are we representatives? Hell no, we're leaders!" method of passing laws that seems to be gaining popularity.

He's bringing down the deficit, but not the debt.
The most recent president to do that was Clinton*.

Yes.
It's very discouraging.
Of course, Senator Obama didn't run for president as a fiscal conservative, the way for example Governor Reagan did.

And though Governor Reagan gave fancy lip-service to balancing the budget, and paying down the debt; once in office not only did Reagan run up more debt than Carter, whom Reagan criticized for it during the campaign.
But once President Reagan was in office; not only did he run up more U.S. federal debt than Carter, the Democrat before him.
President Reagan ran up more U.S. federal debt than all the other U.S. presidents before him, COMBINED!!

It's too bad we voters can't simply vote for the party that's more fiscally responsible.

But neither is!

And further, it's selective to criticize Obama's "stimulus package" to help U.S. recover from the Bush / Cheney / Paulson economic downturn, the worst since the Great Depression.
They did their own wild spending; $700 $Billion $TARP.
$TARP wasn't intended to recover the U.S. economy.
It was merely designed to be the minimum spending necessary to prevent the Bush economy from slipping into full blown economic depression.

Pretending there's a lot of difference between Republicans and Democrats in general, or Bush & Obama in particular; is ridiculous.
We know better.

* albeit by fudging Social Security revenues
But we've been doing that for decades