Federal Government Will Borrow 40 Percent of the Money It Spends Next Year, Says White House Report

CNS ^ | Monday, August 31, 2009 | Matt Cover

[Thebaddog]

That has always been the case. Entitlements and service on the debt used to make up about 60% of the federal budget in the old days. Now the real tragedy is that the 09 deficit is more than all of Bush’s eight years of deficit combined.

[Nathan Zachary]

And don’t forget we’ll have very little real industry left, so the cheap stuff we will still be able to produce from what little resources we still have won’t be much. Get used to picking veggies, and oranges if you live in Fl. Maybe mining coal for china.

[ichabod1]

But did our experiment with communism start about the same time? Did we continue with progressivism right through WW2 and then have it go underground in the 50s then to burst back out in the 60s-70s, hide again in the 80s back in the 90s, and now attempting to do the impossible?

[investigateworld]

"It’s hard to calculate when we don’t have a clear picture of what GNP will have fallen to by the end of the year, and what revenues of that will be. I suspect there is a lot of wishful thinking going on.

We are probably over that edge, we just don’t know it yet."

Scary, but accurate!

[PSYCHO-FREEP]

Let's see, I'm totally bankrupt, flat assed broke and will lose about half my income within the next year.

It's time to borrow more money to get myself out of debt.

(If it were you or I who did this, we would either be in jail or committed to an institution.)

[Nachum]

The list, ping

[FromLori]

http://www.freerepublic.com/focus/f-news/2328632/posts

[Nachum]

Nasty.

[headstamp 2]

The Obama train wreck continues.......

[b4its2late]

STOP THE SPENDING YOU IDIOTS!

[headstamp 2]

Productive people are just going to “check out” of this society the best that they can. You’ll have a massive underground economy on a scale you’ve never seen before save for the Soviet Union.

[fivecatsandadog]

“The 2010 figures are estimates, based on current policy proposals which have not all been enacted yet. However, all new spending proposals, including spending from initiatives such as health care reform and a proposed cap-and-trade program, would be added to the 2010 deficit. “

Well, by golly, lets see the estimated 2010 expenditures WITHOUT health care reform and cap-and-trade. Betcha it drops 40 percent.

[NautiNurse]

The people running this government are delusional. They believe their own “smoke.”

[Jewbacca]

Wages and fixed incomes are seldom fixed; they are typically indexed somewhat.

[CottonBall]

Productive people are just going to “check out” of this society the best that they can.

I'm running into more and more of us that are doing just that. I quit working years ago because my income is taxed at between 42-45% (it will be 45% when Obama lets the Bush tax cuts expire). Keeping 58% still isn't enough to entice me into working.

I was talking to a friend who I have known to be a successful small businessman over the years. He told me he puts as much money back into his business as he can to avoid paying taxes. Or starts a new business.

[CottonBall]

BTW, my income is taxed so high because it is a 2nd income. My spouse’s top income rate is 25% (will be 28% after the Bush tax cuts expire). Our state tax in Mexifornia is now 9.55% at my husband’s top bracket. SS and Medicare is 7.65% - adds up to 42% right now.

Anyone who is married and filing jointly needs to really take a hard look at just how much the 2nd income is paying in taxes. I know most here are smart enough to have already figured that out, but I’ve run into many wives I’ve worked with that hadn’t a clue. And couldn’t understand it when I explained the simple numbers. The dumbing down of our education system at work!

[April Lexington]

In a word....yes. The communists started immigrating in the early 1900s to build the Utopia they could not achieve in Europe. Here was political freedom and they took advantage of that flaw in our national character. They were in place for FDR and those bright young radicals became the kooky college professors of the 1960s. Now their students have taken their place in government and university. The radical/communist/International movement is now firmly entrenched in EVERY institution in America except certain Protestant churches. And... the gays are working overtime to tumble them...

[April Lexington]

In effect, the wife is working for free. They would have roughly the same take home pay if she just stayed home...

So, what is she making? 10 cents per hour? Socialism is wonderful (for the unemployed)...

[randomhero97]

It’s been long past due for a purge.

[April Lexington]

Ok so I left out the NRA...