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Debt now equals total U.S. economy

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posted on Feb, 14 2011 @ 05:30 PM
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This ridiculous!! With all of this all we hear is rhetoric and phony baloney solutions. Nothing is sacred in the cutting department. Defense, social security, healthcare, and what ever else . . . That debt is appalling, and downright despicable! If I recall correctly, the President's budget proposal is a mere drop in the bucket to alleviate this issue, and that is not a bipartisan remark. Just look at the figures below.

Obama Unveils $3.73 Trillion Budget for 2012


President Barack Obama is sending Congress a $3.73 trillion spending blueprint that pledges $1.1 trillion in deficit savings over the next decade through spending cuts and tax increases.

Obama's new budget projects that the deficit for the current year will surge to an all-time high of $1.65 trillion. That reflects a sizable tax-cut agreement reached with Republicans in December. For 2012, the administration sees the imbalance declining to $1.1 trillion, giving the country a record four straight years of $1 trillion-plus deficits.


Both sides are only mildly engaging this issue, and it needs an extensive action. Moreover, the people accept sacrifice, they themselves are going to have to do the same. From President down to lowly bureaucrat in some government agency. It is high time to get this fiscal disaster under control, or we are up craps creek without a paddle. We will be hobo chili, and looking for the best real estate options under the nearest over pass. I am sorry but this issue is going to have to be hit hard. People are going to suffer immensely in the interim, but if it continues I don't even want to know consequences.

edit on 14-2-2011 by Jakes51 because: (no reason given)




posted on Feb, 14 2011 @ 09:41 PM
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It's tough but we all need to do our part.

The President ordered the cabinet to cut a whopping $100 million from the
$3.5 trillion federal budget!
I was so impressed by this sacrifice that I have decided to do the same thing
with my personal budget. I spend about $2000 a month on groceries, medicine,
bills, general household expenses, etc., but it's time to get out the budget
cutting ax; go line by line through my expenses and go to work.

I'm going to cut my spending at exactly the same ratio -1/35,000 of my total
budget. After doing the math, it looks like instead of spending $2000 a
month; I'm going to have to cut that number by six cents!

Yes, I'm going to have to get by with $1999.94, but that's what sacrifice is
all about. I'll just have to do without some things that are luxuries.



posted on Feb, 14 2011 @ 09:50 PM
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I am pretty sure we are going all-in trying to take over the world. Once we take over the world our debt will be wiped clean or we will just pay ourselves back. God they are insane!!!


reply to post by Surfrat
 


HAHAHAHA! Beautiful!



posted on Feb, 14 2011 @ 09:53 PM
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Okay. I have very little economic "theory" in my back pocket, so bear with me, but I just have to ask this, no matter how stupid it sounds. This percentage is of GDP to foreign debt? Correct? That number's been climbing steadily for the past 8 years, and plenty of people screamed about it for 6 of the 8 Bush years and were constantly beat down about it being a meaningless indicator, but that's neither here nor there...just a happy memory. Anyway, during these past 8 nothing's actually been done to address the issues on either portion of this comparison...not the GDP and not the foreign debt.

Now, finally, my real question is this. How are we even measuring the GDP anymore? With so much of what we "produce" being produced elsewhere, does GDP still mean what we think it does? One example I also remember from the Bush years was that for some reason, Walmart's numbers were not included in the GDP, and in all this time, no one's been able to even attempt to explain to me why that might be. I'm going to go out on an intuitive limb here and say that I think they're full of it that our GDP is even that much.

The reality probably is half of that. We have basically been boiled down to a "services" economy here in the U.S., and with this came a whole new generation of bean counters who are getting very good at making profits look bigger than they really are. You know...for the "stockholder." Look at the banks double counting some of what they had. Look at the companies who to make profits and projections look better lay off thousands of people. I'm thinking there's a lot of funny stuff going on and no one really has a clue as to the true state of the economy of this country.

(I did pass economics, but only after I learned that whatever I thought the answer was, to put the opposite down on the test paper
Can you tell?)



posted on Feb, 15 2011 @ 10:50 AM
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Originally posted by Aloysius the Gaul
reply to post by crimvelvet
 



Ah...right....silly me ...I should have realised that there is no actual "up" side to wind power at all and it's all just part of the military-industrial complex ripping off the taxpayer.......


by all means substitute any othe kind of electrical generation you like - including nuclear - which I am personally fine with - my point was "simply" that wind power gets generated at times when it is inconvenient to actually use it.....which is, I think, one of the points you quoted....so you are agreeing with me
....and that ustilising such generation would be a good thing, since hte wind farms are there already.

Or do you think that is not a good thing?



Ask the folks in Texas and New Mexico how they like that wind power in the winter when rolling blackouts were imposed. Works great yep if you wanna freeze. Turbines in Britain frozen up too.



posted on Feb, 15 2011 @ 10:51 AM
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Originally posted by Surfrat
It's tough but we all need to do our part.

The President ordered the cabinet to cut a whopping $100 million from the
$3.5 trillion federal budget!
I was so impressed by this sacrifice that I have decided to do the same thing
with my personal budget. I spend about $2000 a month on groceries, medicine,
bills, general household expenses, etc., but it's time to get out the budget
cutting ax; go line by line through my expenses and go to work.

I'm going to cut my spending at exactly the same ratio -1/35,000 of my total
budget. After doing the math, it looks like instead of spending $2000 a
month; I'm going to have to cut that number by six cents!

Yes, I'm going to have to get by with $1999.94, but that's what sacrifice is
all about. I'll just have to do without some things that are luxuries.


I don't know whether to laugh or cry. Star for you.



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