this should scare the heck out of you...

Debt?...what debt...lol With all the money they're printing we should start printing our own, hell if North Korea is printing it why can't we?...lol

Originally posted by soficrow

Originally posted by Ahabstar
Currently, under the Obama administration, we are borrowing 50 cents for every dollar we spend.

Erm.

Obama inherited the situation. A great majority of that debt was created under the Bush administration.

Obama sucks too. He has only supported Bush's reign of money spending. Except this time around, our president can speak a sentence now...we got a change of words and thats all folks.

Originally posted by FritosBBQTwist

Originally posted by soficrow

Originally posted by Ahabstar
Currently, under the Obama administration, we are borrowing 50 cents for every dollar we spend.

Erm.

Obama inherited the situation. A great majority of that debt was created under the Bush administration.

Obama sucks too. He has only supported Bush's reign of money spending. Except this time around, our president can speak a sentence now...we got a change of words and thats all folks.

Aww gee, I kinda like Obama but I think you are right. What should he do? What can he do? I think he is doing what he must. He can't just shut the whole system down. Realize that if we devalue the dollar by 60% all those numbers reverse direction.

reply to post by BornPatriot


Wow, that is A LOT OF MONEY!!!

But hopefully we can get out of it, or at least cut it down.

reply to post by earthman4


What should he do? I have no idea. He is the president, so he should know.

I have said this and always will. Even if the economy does turn around, Obama still done many flaws (many of the bailouts - if not all).

But I am not an economics expert, so what do I know. Maybe he is doing the right thing, but it doesn't feel like it.

Originally posted by BornPatriot
www.usdebtclock.org...

this is really scary.... especially, since the average citizen actually thinks he is paying off his debts... why...?
its hopeless...

The fact that thieves have set all this up doesn't scare me anymore.

It did make me go to the range a few days ago and practice.

It did make me buy some heirloom seeds, and a bugout bag
and supplies for it.

It did make me sit down and talk with all my friends and family
for the last few years and get called a nut several years ago,
though now NONE of them call me a nut anymore and a few
even asked to come with me when it is time to get away from
the cities.

The debt isn't going to be paid by a nation that shipped a lot of
its jobs overseas, then created 68 different types of Visas to
import cheap labor, and leave the borders wide open for illegals
to rush the country to its demise.

Like great statesmen of the past alluded to, the US will fall from within,
and we are seeing it right now with our waking eyes.

If your not ready soon to be totally self sufficient you are in for some
VERY hard choices.

Good Luck to all the good ppl !

Woah I didn't know there was that much in derivatives

A nation is not comprised solely or exclusively of it's leaders or representatives. A nation is its citizens of which, like it or not because it doesn't quite fit the "blame game", only includes those leaders and representative among us. So who's really to blame? Go look in a mirror.

And for any "I voted for the other guy!" tact-takers. Congratulations, you have unsuccessfully averted blame by proclaiming a "Goldilocks" defense as I like to call it. Too hot or too cold; it's all porridge.

To the OP

LOL! Would've been fun to see the same script run according to Norwegian spendings and savings. Yes, for we actually have hundreds of billions in savings and funds, and no debt. AND we're making money. But nevermind, Norway is a socialist country in the eyes of most Americans. Well, if they know it is a country and not a town in Sweden.

Guess it is better to having been poor and then work up a fortune, than inheriting ways of cheating from your parents. Not long ago, Norway was the poorest country in Europe. Nowadays we are one of the richest, if not the wealthiest per citizen in the world. And we still carefully turn our coins, and has like one of the only nations in it's class managed to secure ourselves against -- for instance -- bad American elections leading the world into hostility, war, new nuclear states and general crisis.

www.guardian.co.uk...

It's old I know, but unlike in the rest of the world, the economic crisis is but a few more red numbers in our investments, which will hopefully turn black again soon...

God has been very good to us here now. How I pray for tomorrow...

[edit on 28/5/2009 by Neo Christian Mystic]

reply to post by Neo Christian Mystic

I find your country has wise people in it.

Anyway, I must add that the major problems came when NAFTA was implemented, for max profits companies got their stuff manufactured by Ultimate Wage Slaves, people overseas in poverty stricken countries who work for next to nothing, for long hours and no benefits. Why do they work like this?
A mix of propaganda and a need for something to live on.
They gotta earn something.

This is where North American jobs have gone, to wage slaves.

How can we compete against that? Especially with our cost of living, we need high wages just to live normally without slipping into poverty, and we need to work long hours to get by, and they more.

How do we end wage slavery for us and them?

Providing jobs for them and taking away our jobs hasn't helped anyone anywhere.

Anyway, NAFTA was the beginning of the end IMO.


[edit on 28-5-2009 by Toadmund]

reply to post by Toadmund


Sweet cat you have in that box. Isn't that Bush's food minister? Oh, no that was the goat... Sorry...

reply to post by soficrow

Erm.

Obama inherited the situation. A great majority of that debt was created under the Bush administration.

As much as I cringe at the wiff of partisanship I detect. I thought I would add something, doing my best to make sure no one out there thinks this has anything to do with which side of the Republicrat toilet bowl one chooses to swim on.

The national debt is a national problem.

It has been particularly bad since WWII but regardless where you float in the aformentioned bowl it keeps going up. A lot.

For example we have Bill Clinton who in 8 years added a mere $1,539,684,631,121.04 to the national debt. some of you poor Americans might think that's a lot of bread. It's not. In fact Bill Clintons' contribution to our suffocating and unsustainable mountain of debt was by far the best performance of an American ruler in recent history. Due in part to his quasi promise of balancing the budget, which he actually did, for the most part.

Next we have George W Bush, love him or hate him this guy knows how to spend. A whopping $4,899,100,310,608.44 of additional debt in just 8 short years. Now I know we ran into a few problems there in the second half but thats a nice chunk of change.

Introducing Barack Obama. In a solid bid to prove that he can out do even the deepest debt diggers of the past he has set a frantic pace digging the hole $674,237,828,935 deeper in just 4 quick months, nearly doubling the pace set by his predecessor.

Our problems are far deeper (

I should state that my first post was not a "blasted Obama, it is all his fault" at all. I was stating what I had heard to number of borrowing to cover the spending going on. Sure it was inherited, as it has been for many decades.

I can no more blame Obama than I can blame Taft or Filmore for there being a debt. However I can take exception and do take exception to how this rate of borrowing and spending are going currently. And exactly how the money is being spent.

First and foremost the bailout/stimulus should have been heavy-handed controlled. Not this belly up to the bar boys, that has been done. In my opinion not a single penny should have been doled out if it did not directly keep and increase the hiring of American workers. The few bankers, CEO's and other recipients could spend every last dime they ever thought they had in their possession ala Brewster's Millions and still not out spend a nation of gainful employed workers.

GM wanted/needed cash. America needs less outsourced jobs. Should be a very easy term to work out, in order to receive federal financing. AIG/Chase/BoA about to go under? Better start making some small business loans to people willing to hire workers to get their business off the ground.

NASDAQ drops 50 zillion points? So what? Intelligent investors would rather deal with a business directly anyways. The stock market is nothing more than a paper casino for the rich and by the rich in the first place. Even the most casual of observations would show that anytime the common people start to make money, the market tanks.

Yet 401K's were the status symbol of retirement benefits. A few job interview during my unemployment says they still are. Honestly the whole situation reminds me of that line from Men In Black "A person can be intelligent. People are dumb."

Originally posted by soficrow

Obama inherited the situation. A great majority of that debt was created under the Bush administration.

Sorry

He has spent more than all other Presidents in history combined and he co-authored the Bailout Bill with Bush and agreed to it. In fact he reached that number about 50 days in. Staggering is it not!

In his first term, just based on what he has already done, he will easily quadruple the debt he inherited. I can't wait to see how his Groupies explain that away.

Fact's suck, don't they. It took me a full term to realize what a mess Bush was. You will figure out how bad Obama is eventually.

Quit the two Party System and you will be a better person for it.

Perhaps we should all join the UAW and wait for the Golden Goose to fill our bank accounts with other peoples money? Just a thought.

That part about "Obama inherited all this debt"--give me a break. yes he did inherit some, but not the trillions he has borrowed, and given away to bail out big business. Do your homework, and wake up, and stop blaming Bush for everything. I didn't like the man either, but the blame game doesn't work anymore. we are way past that. Both parties put us where we are, and Obama and his kool-aid drinking henchmen are putting the last nails inthe coffin. Wether you believe in his version of "change" or not, you're getting it. If you really look at his policies, he's still carrying on some of Bush's programs, and he's backtracked onmany things he said he was going to do. Sounds like politics as usual to me.

Call me 'ignant' but what is a 'Prescription Drug Liability'?


Chrono

This system absolutely is going to fail, it has to. This mess has its foundations so far back it is frightening. It matters not what "party" is in power, the story remains the same....our economy is based on debt! Our money has no value, nothing at all backing it...oh for the silver certificate again.

When it crashes it will be bad. As scary as it is at some point I believe they will no longer be able to make Social Security payments or meet the Government Payroll. I cannot imagine what is going to happen but I think our time and the way we live is just about over. I worry for the kids though, and the grandchildren too.

Pretty nice site, however it lacks any information or evidence what so ever to prove the numbers are real.

Would of expected something wouldnt you?

Foreign Bankers...aka the Federal Reserve own everything.