Posted on 08/09/2009 5:35:26 PM PDT by Clintonfatigued
The numbers are just staggering. Also, because Republicans squandered their credibility on deficits years ago, they have been unable to offer effective opposition.
The American people are becoming more savings and thrift oriented now. Ironically, this is one of the reasons the economy has been slow, as credit-based spending has been a fuel of economic growth in the past.
ping
Simple solution. Cut spending. The DC Beltway crowd is going down hard.
Daily News - Zuckerman - amazing.
Yeah, cut spending. But I think it is going to have to go a lot deeper than that. A lot of these “entitlement” programs are going to have to be ended. What happens then?
Actually, it’s probably much worse.
Because a decent chunk of our T-bills are now short-term instead of long term. There appears to be a lot of “waiting and watching” going on by those buying our debt.
Seems to me they are waiting for the inevitable spike in interest rates and that will throw all the numbers off.
Gonna be ugly...
someone is going to use the expression
“Simple solution. Cut spending.”
It’s a question of how. Interest on the debt can’t be controlled and a lot of entitlement spending is mandatory. Laws will have to be changed to achieve real cuts in spending.
What was that saying--'No society has every survived a tax rate greater than 25%'...?
Our government has become an aging trophy wife--old, ugly, useless and extravagent. Time to dump her for the new model.
Down Size the Federal Government to only a military and strategic function.
Get rid of everything else, including the dreaded IRS ( only state taxes), and the idiot federa; ourt system ( reduce it to skeletal status, and make Congressional elected reps PAY to be our representatives, end all of their benefits.
END ALL FEDERAL TAXATION.
“The unprecedented, improbable and indeed almost unimaginable global financial crisis has virtually put an end to the comfortable notion that American and Western capitalism would dominate the world economy.”
This would be a true statement if we lived in a capitalistic, free-market system.
We don’t. Not since 1913 when the “Federal Reserve Act” implemented a central bank in America, much against the warnings of our Founding Fathers.
It has been their monetary manipulation — to favor the profit of the banksters — that has crippled the free-market system and market-based capitalism.
If the average American citizen wrote hot checks like our federal government.
They’d be in jail.
Keep up the pressure y’all. Town halls, Tea parties, faxes, emails, letters, phone calls.
Tell your representatives and senators.....
YOU ARE SERVANTS OF THE PEOPLE, NOT ROYALTY.
Or something equally radical. You are right: the situation is become impossible. We are in danger of becoming Venezuela.
Or something equally radical. You are right: the situation is become impossible. We are in danger of becoming Venezuela.
and taxes (this time cut both). I believe you're right. That's the new paradigm. That's where consumers (and voters) are headed.
We may well achieve third world status as barky wants.
Well, no surprise here. You could see this economic train barrelling down the tracks as soon as Obama put through his Porkulus bill.
But it is, indeed, a major surprise to see that Mort Zuckerman, a major Democrat player and big-time donor, and the Daily News, which is reliably liberal, would come out with a story like this AND BLAME IT ON OBAMA.
No “Bush’s fault” here, even though, to be honest, Bush was a big spender and was partly responsible for the recent mess with his GM bailout and his TARP nonsense. True, Bush was suckered by Paulson and Obama. But putting the blame squarely on Obama and letting Bush entirely off the hook is remarkable for a liberal source like this.
LOL! However, Americans would be better off viewing government --- any government --- as a necessary evil that should be minimized as much as possible.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.