Massive US Debt

[Nanker]

Of course, that works better if you blame the right person first.

 

Hint: it's not the president.

He should also thank Prime Minister Tojo and Adolph Hitler for pulling us out of the depression.

[Magox]

http://www.bloomberg.com/apps/news?pid=206...NrMig&pos=7

 

Moody’s Investors Service said its top debt ratings on the U.S. and the U.K. may “test the Aaa boundaries” because their public finances are worsening in the wake of the global financial crisis.

 

There has been a huge increase in debt-to-gross-domestic- product ratios as a result of the crisis,” said David Keeble, head of fixed-income strategy in London at Calyon, the investment-banking unit of Credit Agricole SA. “It’s right that there should be a lot of attention and pressure on these numbers.”

 

The U.S.’s debt burden will climb to 97.5 percent of gross domestic product next year from 87.4 percent, the Organization for Economic Cooperation and Development forecast in June. National debt in the U.S. climbed to $7.17 trillion in November. The U.K.’s public debt will swell to 89.3 percent of the economy in 2010 from 75.3 percent this year, according to the OECD.

 

‘Political Willpower’

 

The expansion of the U.S. economy won’t be enough for it to make “major progress” in reducing its budget deficit, the ratings company said.

 

 

The only hope that we have of not losing our credit rating is if our tax receipts start rising rapidly, not gradually. The government is banking on a sustained 3.5-4% GDP growth rates, if this doesn't happen then we are in serious trouble.

[erynthered]

http://www.bloomberg.com/apps/news?pid=206...NrMig&pos=7

 

Moody's Investors Service said its top debt ratings on the U.S. and the U.K. may "test the Aaa boundaries" because their public finances are worsening in the wake of the global financial crisis.

 

There has been a huge increase in debt-to-gross-domestic- product ratios as a result of the crisis," said David Keeble, head of fixed-income strategy in London at Calyon, the investment-banking unit of Credit Agricole SA. "It's right that there should be a lot of attention and pressure on these numbers."

 

The U.S.'s debt burden will climb to 97.5 percent of gross domestic product next year from 87.4 percent, the Organization for Economic Cooperation and Development forecast in June. National debt in the U.S. climbed to $7.17 trillion in November. The U.K.'s public debt will swell to 89.3 percent of the economy in 2010 from 75.3 percent this year, according to the OECD.

 

'Political Willpower'

 

The expansion of the U.S. economy won't be enough for it to make "major progress" in reducing its budget deficit, the ratings company said.

 

 

The only hope that we have of not losing our credit rating is if our tax receipts start rising rapidly, not gradually. The government is banking on a sustained 3.5-4% GDP growth rates, if this doesn't happen then we are in serious trouble.

 

 

Dont worry, obama will spend more money to create new jobs that will then create more tax receipts.

 

http://blogs.reuters.com/james-pethokoukis...-jobs-stimulus/

 

 

The Obama Administration is touting that their stimulus program has saved or created 640,329 jobs since it was enacted back in February through the end of October. This number is updated and posted on the Administration’s recovery.gov web site. That amounts to $246,436 per job based on the $157.8bn that has been awarded so far! Total compensation earned by the average payroll employee during October, on an annualized basis, was $59,867. If the government had simply used the funds awarded so far to pay for a year’s worth of labor, that would have paid for 2.6mn jobs!

 

[IDBillzFan]

The only hope that we have of not losing our credit rating is if our tax receipts start rising rapidly, not gradually. The government is banking on a sustained 3.5-4% GDP growth rates, if this doesn't happen then we are in serious trouble.

I'm not one for the tin foil hat crowd, but there is absolutely no confidence that the economy is going to rebound any time soon, and there is no confidence that private sector is ready to expand its staffs. And when you hear Obama talk about the private sector, is there any doubt he is setting us up for the most historic butt-fking in history?

 

From a recent speech about jobs: "Part of what's happened, also, ...a lot of companies is they've figured out how to squeeze more productivity out of the workers that they've got. They're working people longer hours, they're doing more overtime... or ... not. But either way, they're producing the same amount of product or providing the same services without hiring more people. That's...that's something that we're gonna have to really have to work on."

 

Profit bad. Corporations bad. Only the government can save us now.

 

One thing is certain: this administration WILL be historic. Just not the way he's hoping.

[Magox]

I'm not one for the tin foil hat crowd, but there is absolutely no confidence that the economy is going to rebound any time soon, and there is no confidence that private sector is ready to expand its staffs. And when you hear Obama talk about the private sector, is there any doubt he is setting us up for the most historic butt-fking in history?

 

From a recent speech about jobs: "Part of what's happened, also, ...a lot of companies is they've figured out how to squeeze more productivity out of the workers that they've got. They're working people longer hours, they're doing more overtime... or ... not. But either way, they're producing the same amount of product or providing the same services without hiring more people. That's...that's something that we're gonna have to really have to work on."

 

Profit bad. Corporations bad. Only the government can save us now.

 

One thing is certain: this administration WILL be historic. Just not the way he's hoping.

I am going to put my alarmist hat on, and I'm 99.9% sure that the next SUPER CRISIS we go through will be about the National Debt. My first or second post on TBD outside of the StadiumWall was about the National Debt and how these politicians just don't get it.

 

The idea that the liberals have is that Federal Spending can provide enough of a jolt to lead us to a sustained recovery. In other words, think of it in terms of a cannon, and that the Federal Spending is the Gunpowder. The logic behind this is that the gunpowder will give us enough Kick to where the cannon ball will come out exploding giving it enough momentum to get to it's destination.

 

The problem with that is that the destination is on the other side of the planet, and that we may not have enough gun powder to get us there.

 

The other problem is that this logic is fundamentally bankrupt. Much of the jobs that are being saved or created are government jobs on both the federal and state levels. These jobs help our economy in shielding us from a more severe downturn and help us to endure, but don't achieve the goal of promoting growth, which is what we need. The other problem is that there is alot of money being spent on programs such as COBRA, jobless benefits, foodstamps and etc. once again they help us endure, but do very little for growth.

 

Same as infrastructure projects, all this does is speed up the process in improving our roads and etc. but many of these jobs are also short term projects that really don't give you the best bang for your buck. Some of them do, but I'm afraid that many of them are projects that the government is desperately looking to find so that they can create jobs just for the fact that they created jobs. This in the long term is not efficient spending.

 

What the government should be doing is lowering corporate taxes, expanding credit to small businesses, tax incentives for businesses that are looking to expand, programs that are friendly to the private sector.

 

The vast majority of the money that has been spent has neglected the private sector. This is the fundamental problem that liberals have, they believe that government can achieve this role, and no where in the world has this proven to be true.

[stuckincincy]

I'm not one for the tin foil hat crowd, but there is absolutely no confidence that the economy is going to rebound any time soon, and there is no confidence that private sector is ready to expand its staffs. And when you hear Obama talk about the private sector, is there any doubt he is setting us up for the most historic butt-fking in history?

 

From a recent speech about jobs: "Part of what's happened, also, ...a lot of companies is they've figured out how to squeeze more productivity out of the workers that they've got. They're working people longer hours, they're doing more overtime... or ... not. But either way, they're producing the same amount of product or providing the same services without hiring more people. That's...that's something that we're gonna have to really have to work on."

 

Profit bad. Corporations bad. Only the government can save us now.

 

One thing is certain: this administration WILL be historic. Just not the way he's hoping.

 

See his recent PR stunt - the "jobs" summit. US Chamber of Commerce, NFIB not invited. He advocated "replacement windows."

 

 

Common sense: have a con-fab about how to increase business' profitability, since profitable businesses *hire* more folks.

 

Obama sense: like you said...

 

 

All things point to the establishment of a perpetual one-party government - cap 'n trade, the health care push, the rushing of legislation and on and on. Once they grab control of health care - it's over. It will be the biggest budget item.

 

The general idea being the left will do to the entire population what they did to black Americans - ensure that government dependency is high, which guarantees votes. I chuckle when I hear a black talk about "diversity." The Dem's with a usual 90%+ vote, snap their fingers and blacks say "How high, Massa?". Economic slavery - LBJ's Great Society plan.

 

The concept of reject, ridicule, and repeat. People who couldn't name a VP or one of their Senators to save their soul shout " F bush!!!. " Sheep who will give up their freedom to "belong". Madness.

 

The removal of cash from the population - people having cash is an anathema to this crowd. The Constitution...a pesky thing soon to be repudiated. Limited government - archaic concept, get rid of it. Get used to the coming 90% of you pay going to to self-serving elites, who you will have to kneel down before and beg to for this or that.

 

Somewhere, Lenin smiles...

 

Government with the consent of the governed? Forget it. Give 'em an HDTV, and they moo like a herd of mindless cows.

Edited December 8, 2009 by stuckincincy

[EndZoneCrew]

so what you're saying is that we should vote for Lou Dobbs?

no.....Lou Brown

[/dev/null]

no.....Lou Brown

I got a guy on the other line about some whitewalls. I'll talk to ya later.

[Adam]

It is pretty scary. Personally, I would like to see us cut 5 millions barrels of foreign oil/day each of the next few years- and I mean 5 million/day MORE each subsequent year. We need to start building some nuclear power plants. Sure, it would hurt in the short term, but the economy can't be about the short term. The economy needs to be rebuilt- it is too late to just patch it up, it is too much of a mess

[Magox]

It is pretty scary. Personally, I would like to see us cut 5 millions barrels of foreign oil/day each of the next few years- and I mean 5 million/day MORE each subsequent year. We need to start building some nuclear power plants. Sure, it would hurt in the short term, but the economy can't be about the short term. The economy needs to be rebuilt- it is too late to just patch it up, it is too much of a mess

That really doesn't have much to do with the National Debt, that has more to do with the TRADE deficit.

[Adam]

That really doesn't have much to do with the National Debt, that has more to do with the TRADE deficit.

I agree, but it could go a long way to helping the debt- cheap domestic energy instead of imported foreign oil helps- everything helps.

 

Heck, it would help if everyone in Buffalo contributed a few hundred bucks after each loss

[EasternOHBillsFan]

Considering that Reagan and Dubya account for well over 60% of the total deficit, Obama would have to be president for another 4 terms before approaching the numbers!!!

[John Adams]

Considering that Reagan and Dubya account for well over 60% of the total deficit, Obama would have to be president for another 4 terms before approaching the numbers!!!

 

You mean national debt. Have no fear. And it won't take 4 terms. One will do fine.

 

http://en.wikipedia.org/wiki/National_debt...sidential_terms

[DC Tom]

You mean national debt. Have no fear. And it won't take 4 terms. One will do fine.

 

http://en.wikipedia.org/wiki/National_debt...sidential_terms

 

At this rate, it may only take Obama half a term.

[Kevbeau]

I'm not one for the tin foil hat crowd, but there is absolutely no confidence that the economy is going to rebound any time soon, and there is no confidence that private sector is ready to expand its staffs. And when you hear Obama talk about the private sector, is there any doubt he is setting us up for the most historic butt-fking in history?

 

From a recent speech about jobs: "Part of what's happened, also, ...a lot of companies is they've figured out how to squeeze more productivity out of the workers that they've got. They're working people longer hours, they're doing more overtime... or ... not. But either way, they're producing the same amount of product or providing the same services without hiring more people. That's...that's something that we're gonna have to really have to work on."

 

Profit bad. Corporations bad. Only the government can save us now.

 

One thing is certain: this administration WILL be historic. Just not the way he's hoping.

 

Holy crap. We've got to slow down productivity.

 

I've heard this before, working in distribution through college. You've already loaded your quota of trucks, why don't you find a pallet back in warehouse 2 & take a nap.

[ExiledInIllinois]

Holy crap. We've got to slow down productivity.

 

I've heard this before, working in distribution through college. You've already loaded your quota of trucks, why don't you find a pallet back in warehouse 2 & take a nap.

 

An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.

 

The Mexican replied, "only a little while."

 

The American then asked why didn't he stay out longer and catch more fish?

 

The Mexican said he had enough to support his family's immediate needs.

 

The American then asked, "but what do you do with the rest of your time?"

 

The Mexican fisherman said, "I sleep late, fish a little, play with my children, take siestas with my wife, Maria, stroll into the village each evening where I sip wine, and play guitar with my amigos. I have a full and busy life."

 

The American scoffed, "I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise."

 

The Mexican fisherman asked, "But, how long will this all take?"

 

To which the American replied, "15 - 20 years."

 

"But what then?" Asked the Mexican.

 

The American laughed and said, "That's the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!"

 

"Millions - then what?"

 

The American said, "Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siestas with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos."

[Jim in Anchorage]

An American investment banker was at the pier of a small coastal Mexican village when a small boat with just one fisherman docked. Inside the small boat were several large yellowfin tuna. The American complimented the Mexican on the quality of his fish and asked how long it took to catch them.

 

The Mexican replied, "only a little while."

 

The American then asked why didn't he stay out longer and catch more fish?

 

The Mexican said he had enough to support his family's immediate needs.

 

The American then asked, "but what do you do with the rest of your time?"

 

The Mexican fisherman said, "I sleep late, fish a little, play with my children, take siestas with my wife, Maria, stroll into the village each evening where I sip wine, and play guitar with my amigos. I have a full and busy life."

 

The American scoffed, "I am a Harvard MBA and could help you. You should spend more time fishing and with the proceeds, buy a bigger boat. With the proceeds from the bigger boat, you could buy several boats, eventually you would have a fleet of fishing boats. Instead of selling your catch to a middleman you would sell directly to the processor, eventually opening your own cannery. You would control the product, processing, and distribution. You would need to leave this small coastal fishing village and move to Mexico City, then LA and eventually New York City, where you will run your expanding enterprise."

 

The Mexican fisherman asked, "But, how long will this all take?"

 

To which the American replied, "15 - 20 years."

 

"But what then?" Asked the Mexican.

 

The American laughed and said, "That's the best part. When the time is right you would announce an IPO and sell your company stock to the public and become very rich, you would make millions!"

 

"Millions - then what?"

 

The American said, "Then you would retire. Move to a small coastal fishing village where you would sleep late, fish a little, play with your kids, take siestas with your wife, stroll to the village in the evenings where you could sip wine and play your guitar with your amigos."

[/dev/null]

Nothing to see here folks, move along

[keepthefaith]

See his recent PR stunt - the "jobs" summit. US Chamber of Commerce, NFIB not invited. He advocated "replacement windows."

 

 

Common sense: have a con-fab about how to increase business' profitability, since profitable businesses *hire* more folks.

 

Obama sense: like you said...

 

 

All things point to the establishment of a perpetual one-party government - cap 'n trade, the health care push, the rushing of legislation and on and on. Once they grab control of health care - it's over. It will be the biggest budget item.

 

The general idea being the left will do to the entire population what they did to black Americans - ensure that government dependency is high, which guarantees votes. I chuckle when I hear a black talk about "diversity." The Dem's with a usual 90%+ vote, snap their fingers and blacks say "How high, Massa?". Economic slavery - LBJ's Great Society plan.

 

The concept of reject, ridicule, and repeat. People who couldn't name a VP or one of their Senators to save their soul shout " F bush!!!. " Sheep who will give up their freedom to "belong". Madness.

 

The removal of cash from the population - people having cash is an anathema to this crowd. The Constitution...a pesky thing soon to be repudiated. Limited government - archaic concept, get rid of it. Get used to the coming 90% of you pay going to to self-serving elites, who you will have to kneel down before and beg to for this or that.

 

Somewhere, Lenin smiles...

 

Government with the consent of the governed? Forget it. Give 'em an HDTV, and they moo like a herd of mindless cows.

 

 

We need a one party govrnment now. A conservative party. We'll need it for consecutive decades in order to get the nation steered back into good economic waters and back to something that more closely reflects the principles of the constitution. The current regime is on a path similar to that of a liar. Once you tell a lie you usually have to commit several more. When the last lie is done, the truth becomes horrible (see Tiger Woods). Congress is writing spending bills one after another like a pathalogical liar lies. They can't help themselves and only know one way to solve most problems. Spend, borrow and tax. When this version of Congress writes their last big spending bill, the truth will be excruciatingly painful.

[/dev/null]

We need a one party govrnment now. A conservative party.

We had a one party government that theoretically was a conservative party

 

Yeah, how'd that work out