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Federal Government Will Borrow 40 Percent of the Money It Spends Next Year, Says White House Report
CNS ^
| Monday, August 31, 2009
| Matt Cover
Posted on 08/31/2009 8:18:37 AM PDT by Thebaddog
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To: Rodebrecht
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.
41
posted on
08/31/2009 9:31:32 AM PDT
by
Thebaddog
(Obama really did believe that stuff he was saying during the campaign)
To: HiTech RedNeck
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.
To: April Lexington
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?
43
posted on
08/31/2009 9:33:58 AM PDT
by
ichabod1
(I am rolling over in my grave and I am not even dead yet (GOP Poet))
To: Nathan Zachary
"Its hard to calculate when we dont 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 dont know it yet."
Scary, but accurate!
44
posted on
08/31/2009 9:34:13 AM PDT
by
investigateworld
(Abortion stops a beating heart)
To: NormsRevenge
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.)
45
posted on
08/31/2009 9:41:17 AM PDT
by
PSYCHO-FREEP
(Give me LIBERTY or give me an M-24A2!)
To: Thebaddog; Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; ...
46
posted on
08/31/2009 9:56:18 AM PDT
by
Nachum
(The complete Obama list at www.nachumlist.com)
To: Nachum
47
posted on
08/31/2009 9:59:42 AM PDT
by
FromLori
(FromLori)
To: FromLori
48
posted on
08/31/2009 10:02:09 AM PDT
by
Nachum
(The complete Obama list at www.nachumlist.com)
To: Thebaddog
The Obama train wreck continues.......
49
posted on
08/31/2009 10:04:46 AM PDT
by
headstamp 2
(Question Marxist Authority)
To: Thebaddog
STOP THE SPENDING YOU IDIOTS!
50
posted on
08/31/2009 10:04:56 AM PDT
by
b4its2late
(Ignorance allows liberalism to prosper.)
To: Thebaddog
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.
51
posted on
08/31/2009 10:09:25 AM PDT
by
headstamp 2
(Question Marxist Authority)
To: Thebaddog
“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.
52
posted on
08/31/2009 10:20:26 AM PDT
by
fivecatsandadog
(You better HOPE you end up with more than a little CHANGE in your pocket when he's finished.)
To: April Lexington
The people running this government are delusional. They believe their own smoke.
53
posted on
08/31/2009 10:23:43 AM PDT
by
NautiNurse
(Obama: A day without TOTUS is like a day without sunshine)
To: Captain Kirk
Wages and fixed incomes are seldom fixed; they are typically indexed somewhat.
54
posted on
08/31/2009 10:42:09 AM PDT
by
Jewbacca
(The residents of Iroquois territory may not determine whether Jews may live in Jerusalem.)
To: headstamp 2
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.
To: All
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!
To: ichabod1
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...
57
posted on
08/31/2009 11:58:32 AM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: CottonBall
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)...
58
posted on
08/31/2009 12:00:28 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
To: April Lexington
It’s been long past due for a purge.
59
posted on
08/31/2009 12:01:09 PM PDT
by
randomhero97
("First you want to kill me, now you want to kiss me. Blow!" - Ash)
To: April Lexington
Ok so I left out the NRA...
60
posted on
08/31/2009 12:01:23 PM PDT
by
April Lexington
(Study the constitution so you know what they are taking away!)
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