Obama, irresponsible spending and the debt limit

originally posted by: jimmyx
I didn't know that Obama controls the entire government, and business, and the worldwide financial markets?....

When you sit in the big chair, you're expected to put on your big boy pants and take on big boy responsibilities. It is, or at least used to be, in the job description.

a reply to: amazing
Personally, my family and I are doing well. I'd say that's despite anything put forward by Nobama, not because of his brilliant ideas and ideals.

Screwing up an already troubled healthcare system. That's great.

Actively participating in the orchestration of the "unexpected" surge of alleged "unaccompanied minors" with his friends in La Raza. What a guy.

Bringing race relations to a state it hasn't seen in decades with his all too often guest to the White House, Al Sharpton.

The Pacific trade deal which is so wonderful, the details are literally under lock and key. Now that's what you would expect from the transparent administration Obama declared he would have.

If you're fine with that and so much more, all I can say is good luck.

Edit: Just as one person can't save a nation, one person can't destroy it.

I would also add that it's not how things are at the moment, it's the trajectory his policies put us on. You think it's a coincidence that the worst parts of the ACA didn't start yet? He'll be long gone when the real stuff hits the fan.
Same with international blunders.
Same with flooding us with illegals and soon the alleged refugees.

originally posted by: Wardaddy454
Now, Can someone explain to me how Sanders' 20 Trillion Dollar plans will help when we have this much debt already?

Debt is what's left when expenditures exceed income. Bernie is going to fix the income side of the equation, that's how.

He's proposing that we remove the income limit on the S.S. Tax so that someone earning 5 million doesn't get away with paying the same amount in tax as someone earning 150 thousand. (Makes S.S. Fund solvent until 2060 and allows for benefit enhancements.)

He's proposing a tax on Wall St. speculators that will fund universal public pre-school, public college education for all and lower interest rates on college debt.

He's proposing that we renegotiate our trade pacts to remove all tax incentives that promote the outsourcing of American jobs and/or retain profits in offshore accounts.

He's proposing that we adopt a $15 minimum wage, coupled with new public works projects to repair our nation's infrastructure and renewed emphasis and support in the field of green energy. That wage and those new jobs will also generate new tax revenue.

He's proposing that we fix the top marginal income tax rates so that someone earning 2 billion a year isn't paying the same rate as someone making 500 thousand.

He's proposing that we fix the capital gains tax so that those who earn their living off of investment capital don't get a lower tax rate than someone who earns their living off the sweat of their brow.

Spending is just one side our nation's debt coin and allowing one tenth of one percent of our population to continue pocketing the income side of our coin is the bulk of the problem, Bernie's gonna fix that.

originally posted by: burdman30ott6

originally posted by: jimmyx
I didn't know that Obama controls the entire government, and business, and the worldwide financial markets?....

When you sit in the big chair, you're expected to put on your big boy pants and take on big boy responsibilities. It is, or at least used to be, in the job description.

ok, too bad that we are paying all those congressional salaries when Obama is "sitting in the big chair" and controlling everything....by the way, how many times have the republicans voted against the ACA?....I lost count after 50 separate votes, maybe they could do an up or down vote on raising the minimum wage?....or putting a huge infrastructure bill on Obama's desk for him to sign....so, you know, to fix the roads and give Americans some jobs....oh right, right...they have to elect a speaker first (seems like no one wants it), and then there is the Benghazi hearing(s), and then of course, the debt limit fight, where they will attempt to shut down the government...then it's home for Xmas!!!......and after that, everybody going to be too busy and involved in getting elected and re-elected......so....that's it, until Jan. 20, 2017 when new leaders take the oath.

a reply to: jimmyx

How much of what you just listed has increased America's debt and by how much?

originally posted by: burdman30ott6

originally posted by: amazing
I'm in better shape now then before he took over. I know many aren't doing well, but it's not all doom and gloom in the USA right now.

So, top 1% or bottom 47%?

No but I started a business and getting out of debt and financial situation keeps improving. My business is service oriented and not something everyone needs so when the economy is down my business is down and business has been getting stronger the past couple of years.

originally posted by: eluryh22
a reply to: amazing
Personally, my family and I are doing well. I'd say that's despite anything put forward by Nobama, not because of his brilliant ideas and ideals.

Screwing up an already troubled healthcare system. That's great.

Actively participating in the orchestration of the "unexpected" surge of alleged "unaccompanied minors" with his friends in La Raza. What a guy.

Bringing race relations to a state it hasn't seen in decades with his all too often guest to the White House, Al Sharpton.

The Pacific trade deal which is so wonderful, the details are literally under lock and key. Now that's what you would expect from the transparent administration Obama declared he would have.

If you're fine with that and so much more, all I can say is good luck.

Edit: Just as one person can't save a nation, one person can't destroy it.

I would also add that it's not how things are at the moment, it's the trajectory his policies put us on. You think it's a coincidence that the worst parts of the ACA didn't start yet? He'll be long gone when the real stuff hits the fan.
Same with international blunders.
Same with flooding us with illegals and soon the alleged refugees.

I agree with some of what you said, but I think the jury is still out on ObamaCare. I haven't been negatively impacted by it. Only one of my friends and associates out of hundreds is really angry about it. When I research it I get a 50/50 response. Try it. Google "Is ObamaCare Succesful" and you'll see that you get both sides.

What I will strongly disagree with you is Race Relations. Obama hasn't done anything to harm relations, I would put forth that he's done a lot to improve them, I realize that's debatable, but he certainly hasn't harmed them. In fact we're talking about it and race relations are out int he open now. Discussing race is always better than letting race issues fester int he background. Ya gotta give me this one.

originally posted by: usernameconspiracy
The funny thing is the debt limit is a completely made up thing, to encourage the purchase of U.S. Treasury bonds during WWII. And nobody ever made any mention of it being raised every year until... wait for it.... Obama became President.

Not quite accurate. The debt limit has been a frequent political tool of the opposition party ever since it first became a thing. It was an issue under Bush, Clinton, Bush, Reagan, Carter, Ford, and all the others.

You are right however that it's made up but it goes back further than WW2 to WW1. The reason we have a debt limit has to do with how Congress authorizes funds. Originally they would authorize the spending for each and every department and item but when WW1 happened the sheer scale of it made such a thing impossible. As a result they delegated spending while Congress would have say over the total amount that could be spent. This brought about a debt limit that has been periodically increased ever since.

originally posted by: amazing
[They say that with every presidency. But seriously, how did he destroy America? I'm in better shape now then before he took over. I know many aren't doing well, but it's not all doom and gloom in the USA right now.

Good for you. My annual merit bonuses have barely met the cost of living since 2009, I'm living paycheck to paycheck, I've nearly lost my house twice (and dipped into 401K to keep it), my healthcare premiums doubled in 2010 and my deductible has tripled, the number of government inspections at my workplace have doubled in the last 3 years so we are getting less done, my wife hasn't had a full time job since 2009, bureaucratic regulations/judicial activism/executive overreach have made me lose faith in my government, illegal aliens are exploiting our compassionate culture, and I'm told I better shut up and check my white privilege.

Everything is awesome.

originally posted by: amazing

originally posted by: eluryh22
a reply to: amazing

I agree with some of what you said, but I think the jury is still out on ObamaCare. I haven't been negatively impacted by it. Only one of my friends and associates out of hundreds is really angry about it. When I research it I get a 50/50 response. Try it. Google "Is ObamaCare Succesful" and you'll see that you get both sides.

What I will strongly disagree with you is Race Relations. Obama hasn't done anything to harm relations, I would put forth that he's done a lot to improve them, I realize that's debatable, but he certainly hasn't harmed them. In fact we're talking about it and race relations are out int he open now. Discussing race is always better than letting race issues fester int he background. Ya gotta give me this one.

As I said in my post, the worst parts of the ACA didn't get enacted yet. I haven't been affected by ACA (Obamacare) either because I saw the writing on the wall well in advance and did what I could to insulate myself from it. I would recommend you Google "Obamacare made me lose my insurance."

Obama hasn't done anything to harm race relations? I would be remiss in my duties as a citizen if I didn't (again) highlight the frequent visits to the White House by Al Sharpton. That being said, and this is probably one of the most benign yet most telling incidents... Remember the college professor that had locked himself out of his house? Before there was ANY real information available Obama said, "The cops acted stupidly." Then he goes on with the "If I had a son he would look like Treyvon." He constantly, CONSTANTLY emphasizes the faults in American history (HISTORY) in terms of race relations despite having the ability to say (my words, not his), "Do you see how far we have come?"

And, by proxy, he is guilty of his wife's actions when it comes to race. Last spring/early-summer she gave the dreadful speech at a graduation ceremony at a museum and essentially said that black people feel UNCOMFORTABLE at museums. SHE WAS IN THE FREAKING MUSEUM!! Again, every opportunity to bring people together Obama (MR and MRS) use the situation to divide.

You said, "Ya gotta give me this one." I say heck no.

So what does this mean America is going into recession comes Nov 3, 2015?

a reply to: InnerPeace2012

Nothing that exciting. Just a slow, irritating decline into the wastebasket of history.

originally posted by: eluryh22
a reply to: InnerPeace2012

Nothing that exciting. Just a slow, irritating decline into the wastebasket of history.

How is the US gonna come out of this debt? It looks like Obama is already pointing the fingers, indicating a helpless situation?

Is this information legit?

originally posted by: InnerPeace2012

originally posted by: eluryh22
a reply to: InnerPeace2012

Nothing that exciting. Just a slow, irritating decline into the wastebasket of history.

How is the US gonna come out of this debt? It looks like Obama is already pointing the fingers, indicating a helpless situation?

Is this information legit?

Simple. We're not. While it's arguable that some amount of public & private debt is "required" these days, the U.S. Government has exceeded it's ability to pay this down. We're now in full blown "service mode" to the debt. The U.S. Economy is not large enough, nor strong enough to facilitate the actual reduction of the debt. The Federal-Reserve is trying to keep interest, below growth. It's not working well, as the growth over the last several fiscal years has either been negative, or in the anemic range. You asked if we would enter another recession, many would argue we never got out in the first place. While we haven't seen 6+ consecutive quarters of negative growth, denoting we are not in a depression, the recession question is very debatable.

The Debt ceiling being raised is pretty much a fore gone conclusion. Congress needs to raise the ceiling so the Fed-Res can raise interest rates. But there's large problems on the horizon for that as well, specifcly in the asset purchasing aspect of the FED-Res's Q.E.'s over the last several fiscal years.

It was Bush's fault, or maybe Reagan. Clinton is god though.

a reply to: InnerPeace2012

The basic way to get out of the debt is to increase revenues and put them towards the debt in combination with inflation. If we increased taxes by 1/3 we could eliminate the deficit, provide health care, and provide a few other basic services that offset the increase in taxes. We could then put the other half of that increase towards the debt and in followup years also putting all money towards that debt that would have otherwise gone to interest on it. That would result in about 500 billion going towards the debt right now, and a 4% increase on that each year.

That would pay off the national debt in 20 years.

Good luck doing it though, because we have one party that refuses to raise taxes for any reason.

Ideally however we wouldn't want to fully pay off the debt because when people own our debt it is effectively saying they have faith in our currency. The very fact that others believe our currency to be worth something makes it worth something. Reducing our debt levels however would still help. We could accomplish a 50% reduction in 14 years following this plan.