Obama has created more debt with out of control spending in his first 30 days than this country has created since it's beginning.
You people better pull your head out of your collective rumps before you lose your country.
The USA is heading down the same path as the former Soviet Union and the collapse will likely be sooner rather than later.
The total liabilities of the United States government, including future social security and medicare payments that the U.S. government is already committed to pay out, now exceed 65 TRILLION dollars, which is more than the entire GDP of the whole world.
According to the 2008 Financial Report of the United States Government, which is an official United States government report, the U.S. actually had a budget deficit of 5.1 trillion dollars in 2008.
So why did the Congressional Budget Office report that the federal budget deficit was only 455 billion dollars (which is certainly a total disaster) in 2008?
The difference lies in accounting. The CBO's figures are based on cash accounting, while the 2008 Financial Report of the United States Government is based on GAAP accounting. GAAP accounting is what is used by all the major firms on Wall Street and it is regarded as a much more accurate reflection of financial reality.
So why is there...
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You people better pull your head out of your collective rumps before you lose your country.
The USA is heading down the same path as the former Soviet Union and the collapse will likely be sooner rather than later.
The total liabilities of the United States government, including future social security and medicare payments that the U.S. government is already committed to pay out, now exceed 65 TRILLION dollars, which is more than the entire GDP of the whole world.
According to the 2008 Financial Report of the United States Government, which is an official United States government report, the U.S. actually had a budget deficit of 5.1 trillion dollars in 2008.
So why did the Congressional Budget Office report that the federal budget deficit was only 455 billion dollars (which is certainly a total disaster) in 2008?
The difference lies in accounting. The CBO's figures are based on cash accounting, while the 2008 Financial Report of the United States Government is based on GAAP accounting. GAAP accounting is what is used by all the major firms on Wall Street and it is regarded as a much more accurate reflection of financial reality.
So why is there...
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Obama has created more debt with out of control spending in his first 30 days than this country has created since it's beginning.
You people better pull your head out of your collective rumps before you lose your country.
The USA is heading down the same path as the former Soviet Union and the collapse will likely be sooner rather than later.
The total liabilities of the United States government, including future social security and medicare payments that the U.S. government is already committed to pay out, now exceed 65 TRILLION dollars, which is more than the entire GDP of the whole world.
According to the 2008 Financial Report of the United States Government, which is an official United States government report, the U.S. actually had a budget deficit of 5.1 trillion dollars in 2008.
So why did the Congressional Budget Office report that the federal budget deficit was only 455 billion dollars (which is certainly a total disaster) in 2008?
The difference lies in accounting. The CBO's figures are based on cash accounting, while the 2008 Financial Report of the United States Government is based on GAAP accounting. GAAP accounting is what is used by all the major firms on Wall Street and it is regarded as a much more accurate reflection of financial reality.
So why is there such a big difference?
Well, what the Congressional Budget Office does is some really bad accounting. When you pay social security taxes, the federal government takes that money and instead of putting it away to pay your social security benefits in the future, it takes that money and spends it however it wants.
So what about the future social security and medicare benefits that the government owes you?
There is no money there for those payments.
The government is using that money right now to make the budget look better.
That's right, you have been conned.
And as bad as the numbers from 2008 look, they do not reflect any significant money from the monstrous financial bailouts that Congress has passed.
So 2009 is going to look MUCH worse.
Pretty picture, eh?
The reality is the the United States of America is a total financial disaster.
Already, 13 banks have already failed in 2009. All of the bailouts certainly don't seem to be helping much yet.
But that doesn't mean that the federal government is going to give up trying to help. It seems a new "bailout" or a new "stimulus" is being passed almost weekly now.
Instead of accepting the fact that we must adopt a lower standard of living and deal with the reality of our massive debt, the politicians are trying to crank up the debt spiral one more time.
The truth is that all of this government spending will NOT help the economy, but it will make the long term problems of the U.S. government far worse.
So who is going to pay for all of this new government debt? China has serious doubts about who is going to buy all of America's new debt. The reality is that the only way that the government can "bailout" anyone or pay for any "stimulus" bill is to borrow.
So America borrows and borrows and borrows and borrows.
If your own personal finances were like that, how do you think it would end?
Ah, you are starting to get the picture.....
The "American Dream" is quickly becoming the "American Nightmare" and most of the politicians don't have a clue.
What are you going to do when the economy collapses and everything you ever worked for starts coming apart?
It is time for all of us to start thinking about what is truly important.....
(more)You people better pull your head out of your collective rumps before you lose your country.
The USA is heading down the same path as the former Soviet Union and the collapse will likely be sooner rather than later.
The total liabilities of the United States government, including future social security and medicare payments that the U.S. government is already committed to pay out, now exceed 65 TRILLION dollars, which is more than the entire GDP of the whole world.
According to the 2008 Financial Report of the United States Government, which is an official United States government report, the U.S. actually had a budget deficit of 5.1 trillion dollars in 2008.
So why did the Congressional Budget Office report that the federal budget deficit was only 455 billion dollars (which is certainly a total disaster) in 2008?
The difference lies in accounting. The CBO's figures are based on cash accounting, while the 2008 Financial Report of the United States Government is based on GAAP accounting. GAAP accounting is what is used by all the major firms on Wall Street and it is regarded as a much more accurate reflection of financial reality.
So why is there such a big difference?
Well, what the Congressional Budget Office does is some really bad accounting. When you pay social security taxes, the federal government takes that money and instead of putting it away to pay your social security benefits in the future, it takes that money and spends it however it wants.
So what about the future social security and medicare benefits that the government owes you?
There is no money there for those payments.
The government is using that money right now to make the budget look better.
That's right, you have been conned.
And as bad as the numbers from 2008 look, they do not reflect any significant money from the monstrous financial bailouts that Congress has passed.
So 2009 is going to look MUCH worse.
Pretty picture, eh?
The reality is the the United States of America is a total financial disaster.
Already, 13 banks have already failed in 2009. All of the bailouts certainly don't seem to be helping much yet.
But that doesn't mean that the federal government is going to give up trying to help. It seems a new "bailout" or a new "stimulus" is being passed almost weekly now.
Instead of accepting the fact that we must adopt a lower standard of living and deal with the reality of our massive debt, the politicians are trying to crank up the debt spiral one more time.
The truth is that all of this government spending will NOT help the economy, but it will make the long term problems of the U.S. government far worse.
So who is going to pay for all of this new government debt? China has serious doubts about who is going to buy all of America's new debt. The reality is that the only way that the government can "bailout" anyone or pay for any "stimulus" bill is to borrow.
So America borrows and borrows and borrows and borrows.
If your own personal finances were like that, how do you think it would end?
Ah, you are starting to get the picture.....
The "American Dream" is quickly becoming the "American Nightmare" and most of the politicians don't have a clue.
What are you going to do when the economy collapses and everything you ever worked for starts coming apart?
It is time for all of us to start thinking about what is truly important.....
who will buy it?
who wants to buy this country?
but will it be too expensive?
lols
http://streetsideinvestor.com...
A growing number of Chinese are joining tours organized especially for investors who want to take advantage of slumping U.S. real estate prices amid a financial crisis. While China’s ultra-rich have been buying property in the U.S. for years, the buying tours are new, made attractive by still-rising Chinese income levels and American real estate prices that have been falling for two and a half years.
continued
You can lay all the woes of the world at the feet of the Federal Reserve and their New (Under)world Order. But we do have a knight in shining armor, namely Dr. Ron Paul.
http://wnd.com/index.php?fa=P...
Congressman: Audit the Fed's books
Plan calls for complete review of private money policy bosses
The nation was already sold off by the free market capitalists in all of the free-trade agreements in the past 10 years. And with it have gone skilled American manufacturing jobs in exchange for unskilled service jobs. We're not producing anything. We're not making any money. And we're bleeding the money we have because corporations have sold us on the idea of consumerism. Its a recipe for disaster that will hopefully be reversed over the next 4 years.
1. I inherited this debt.
2. George Bush is responsible for all the spending.
3. This administration failed to have regulations.
4. I will save money by ending the War in Iraq.
5. I will cut the our debt in half by the end of my term.
6. His budget will have efforts to restore fiscal discipline.
1.
Unlike all the presidents in the past 40 years...... he was part of all of this "He inherited"
The Democrats dominated Congress for the past 2 years... but he was in the Senate for
the past 4 years. He voted for every spending Bill. He is responsible for what he
claims he inherited and he will take an active responsibility for what follows.
He was voted the most liberal Senator in the Senate.........
The Democrats were at the wheel driving that bus you keep saying landed in the ditch.
2. Presidents only sign the Bills that
reach their desk....... or veto......... George Bush should have vetoed more.
But, he didn't pass all the Spending........... Congress did.... OBAMA AND
HIS FELLOW LEGISLATORS...... Maybe we should look at who was
voting NO.......... McCain a Republican along with many others
were voting NO......... McCain voted "yes" 18% of the time, Obama
voted "yes" 80% of the time..... so lay off the Republ...
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1. I inherited this debt.
2. George Bush is responsible for all the spending.
3. This administration failed to have regulations.
4. I will save money by ending the War in Iraq.
5. I will cut the our debt in half by the end of my term.
6. His budget will have efforts to restore fiscal discipline.
1.
Unlike all the presidents in the past 40 years...... he was part of all of this "He inherited"
The Democrats dominated Congress for the past 2 years... but he was in the Senate for
the past 4 years. He voted for every spending Bill. He is responsible for what he
claims he inherited and he will take an active responsibility for what follows.
He was voted the most liberal Senator in the Senate.........
The Democrats were at the wheel driving that bus you keep saying landed in the ditch.
2. Presidents only sign the Bills that
reach their desk....... or veto......... George Bush should have vetoed more.
But, he didn't pass all the Spending........... Congress did.... OBAMA AND
HIS FELLOW LEGISLATORS...... Maybe we should look at who was
voting NO.......... McCain a Republican along with many others
were voting NO......... McCain voted "yes" 18% of the time, Obama
voted "yes" 80% of the time..... so lay off the Republicans......
Lets start with taking responsibility for your part along with other
Democrats.
3. Obama in the Senate for 4 years and, 2 years ago when Bipartisan ......
Democrat and Republican..... came to
the Senate floor to put regulations on Fanny and Freddy, Obama walked away
from it. WHY?
FROM HIS LIPS YOU WILL HEAR HOW THE FAULT WITH WHAT HE INHERITED
WAS FROM
LACK OF REGULATIONS......
4. How do you save borrowed money?
How do you make borrowed money an asset?
THE MONEY FOR BOTH OF THESE WARS IS BORROWED MONEY.
5. Will he tell us that the tax cuts expire in 2 years?
6. You mean like no Pork? .. Can you say 5 Billion dollars to
ACORN in the Stimulus Package? ACORN, dishonest, fraud and
voter violations in almost every state..... now that is organization.
It was taken out by the Senate and the Bill went back to the
House..... they put it back in with different wording and a new
heading. This was all given to the Senate for the final vote
at 11:30 PM the night before voting...... all 1,700 pages of it.
($ Half Billion dollars a page)
AND HOW ABOUT TAKING A LEADERSHIP ROLE AND WRITING THE
BILLS YOURSELF? NOT IN THE HANDS OF BUSINESS AS USUAL
CONGRESS?
CHANGE?????? YES WE CAN????????????
Or is it Yes We Can but I don't know how?
DOES THIS SOUND MEAN? NO IT SOUNDS ANGRY.
And, by the way........ on the Regulation problems?
You Tube....... Canadian....... the American one has been moved or
removed.
Timeline shows Bush, McCain warning Dems of financial and housing crisis; meltdown
http://www.youtube.com/watch?...
all you obama supporters sure did and are helping him (obama) sale our country.
i bet obama`s rev. is happy
1.) Obama will rebuild the middle class, and you have to be nuts to think anyone has the political power to so much as inconvience the wealth in this country.
2.) The big cost of the labor unions is the legacy cost of the health insurance for retired auto workers. Current auto workers make little more than their foreign counterparts in the USA. Considdering the disparency in housing costs between places like Detroit IL, and Georgetown KY, the UAW worker is getting the worse part of the deal.
3.) This is just nuts.
4.) A few very rich corperations run the press. They will continue to dominate the political discussion, and maintain the focus on their interests, like they always have.
5.) And the Air Force, and the Navy, the Marines, Coast Guard, ect.
6.) A bit overstated, but I am distressed at the Democratic Party's platform in this area.
7.) Unfortunately, the government isn't going to do that much on healthcare. I wish it would, but we're only going to see some minor reform.
8.) If you haven't noticed, a lot of people are losing their jobs, right now.
9.) The former administration was very buisy assembling the tools of a totalitarian, facist state. So far, I've seen Obama do little to reverse this, but he has only been in office sin...
1.) Obama will rebuild the middle class, and you have to be nuts to think anyone has the political power to so much as inconvience the wealth in this country.
2.) The big cost of the labor unions is the legacy cost of the health insurance for retired auto workers. Current auto workers make little more than their foreign counterparts in the USA. Considdering the disparency in housing costs between places like Detroit IL, and Georgetown KY, the UAW worker is getting the worse part of the deal.
3.) This is just nuts.
4.) A few very rich corperations run the press. They will continue to dominate the political discussion, and maintain the focus on their interests, like they always have.
5.) And the Air Force, and the Navy, the Marines, Coast Guard, ect.
6.) A bit overstated, but I am distressed at the Democratic Party's platform in this area.
7.) Unfortunately, the government isn't going to do that much on healthcare. I wish it would, but we're only going to see some minor reform.
8.) If you haven't noticed, a lot of people are losing their jobs, right now.
9.) The former administration was very buisy assembling the tools of a totalitarian, facist state. So far, I've seen Obama do little to reverse this, but he has only been in office since Jan. 20.
10.) ....And just how did this debt come into being?
You may not be a conspiracy theorist, but you must get a lot of your information from US News Corp.
All his gloom and doom has thrown this country into a tail spin......
3.6 Million jobs lost this year and half of them since Obama won.....
last 3 months.
Why????????? He was no longer was running for office with Promise
of Change and Hope....
But, went for Gloom and Doom.............. promoting the need to pass his
over the top Spending Package......... Catastrophe..... he keep saying.
Yes....... that is a "C" word too............. no more Change but
Catastrophe .............
With all his cheer leading for his Stimulus Package..... Urgency.. Panic...
the Nation's confidence went down the tube..... all his Hope was
wasted........
Companies will not expand.... in fact they laid people off preparing for
all this gloom.....
New Business? No way starting anything new ....... too dangerous in this
environment ....
Spending? Nope..... Americans are worried about lay offs and the future.
Remember the HOPE? Obama took it away .......
Gloom and Doom ..........
OH MY GOD.......... HE HAS KILLED THE MARKET.......... and with it
many American's hope to retire.
HELLO OBAMA....... I WOULD NOT WORRY ABOUT SOCIAL SECURITY AND THE BABY BOOMERS RETIRING ...... THEY WILL NOT BE ABLE TO.
Besides there is money in SS until 2044..... then what happens....
All his gloom and doom has thrown this country into a tail spin......
3.6 Million jobs lost this year and half of them since Obama won.....
last 3 months.
Why????????? He was no longer was running for office with Promise
of Change and Hope....
But, went for Gloom and Doom.............. promoting the need to pass his
over the top Spending Package......... Catastrophe..... he keep saying.
Yes....... that is a "C" word too............. no more Change but
Catastrophe .............
With all his cheer leading for his Stimulus Package..... Urgency.. Panic...
the Nation's confidence went down the tube..... all his Hope was
wasted........
Companies will not expand.... in fact they laid people off preparing for
all this gloom.....
New Business? No way starting anything new ....... too dangerous in this
environment ....
Spending? Nope..... Americans are worried about lay offs and the future.
Remember the HOPE? Obama took it away .......
Gloom and Doom ..........
OH MY GOD.......... HE HAS KILLED THE MARKET.......... and with it
many American's hope to retire.
HELLO OBAMA....... I WOULD NOT WORRY ABOUT SOCIAL SECURITY AND THE BABY BOOMERS RETIRING ...... THEY WILL NOT BE ABLE TO.
Besides there is money in SS until 2044..... then what happens......
it breaks even..... but what else happens?
The Baby Boomers...... the problem? They will be dead.
last 3 months."
You are not making sense. I cannot respond to this.
The trick is going to be figuring out if it is the intent of this administration to make many of these short term fixed, permanent parts of the government.
We need to be weary and skeptical and stand ready to resist overreaching by government when the time comes to stand for principles of freedom.
Lord, I hope not!...Will div in tomorrow. lol...Thanks for post
We lost more jobs overseas and to our neighbors than in any other time in history... this must stop!
And I dont think Obama has real control over the military. To be truthful I think he is going to have a major problem with them.
I do believe he is pushing the socialist agenda but tolitarin has been getting slowly worked in over the years. He is just figuring he can do it openly is the diffrence.
followed by:
"Forget Bush...it doesn't matter! It is today that matters...it is today that prdicts tomorrow, cause and effect."
If you look at the facts, Clinton administration left us with a balance budget and a surplus........the Bush administration left us with two wars and a huge debt and a demolished economy. Why doesn't that count? And now after less than six weeks of this administration, you are asking is the United States for sale?.........
Our debt and the two Bush wars were financed by China; so what is your point?
I.O.U.'s in social security...cut our military and it goes on
forever...cooked the books. Bush had to spend money getting our
military back up..and good thing since 9/11 that caused that war that
we had to spend money on...like any other war in the past...oh
yeah...wars cost money..so do natural disasters...none of these things
happend during clinton ...except some wars...he didn't do so much there
and that's why we had to pay and spend later. Just sounds like
following things heard on liberal TV. China is Jimmy Carter's baby! He
birthed that one and liberas have been crying Bush ever since.
You said, "China is Jimmy Carter's baby"
I thought that was Nixon's baby, and after GHWB left office, he and his brother, Prescott set up an American/Chinese Chamber of Commerce to explore business possibilities with China. Why, I bet you didn't know that Uncle Prescott Bush was over in China exploring business opportunities before GWB took the oath of office. Did you know that, Lucy? No, I bet not because that is never included in the GOP talking points. Please get your information straight, otherwise you look foolish.
Obama does not have the advantages that Clinton did , as in a REAL congress to do ALL the work so he can take credit for it on TV ! ....
whole instead of it's parts than you....you're the one reading liberal
lies.....you don't know what you're talking about...Jimmy Carter opened
the flood gates to China and kissed ass to Arafat a well known
terrorist...that's where a lot of our demise started. Bush wasn't a
wimp like Carter or Clinton and took some real action that happend to
have cost some money ...I did not have sex with that woman...no he
doesn't lie about anything..does he.?.......He cooked the Books.