[calex59]

I say bring back the gold standard, open up the mines in CA, which still have lots of gold in them, and set the price of US Treasury gold at an arbitrary price and keep it there. Also add silver backing to the gold. And STOP borrowing money from every other country in the world, stop spending and stop taxing Americans to death. Do away with the frickin’ welfare state.

[Newtoidaho]

I hope everyone likes the taste of ramen noodles. About all we’re going to be able to afford.

[BooBoo1000]

What it all boils down to is that we as a Nation are Broke. WE are not only broke but we owe untold amounts of money.Think about all of the things that the Government has to fund that are not on the books like Social Security.We are absolutely flat broke, and the crooks in Washington continue to print more money.

[PanzerKardinal]

[AnotherUnixGeek]

The US government is now servicing $13.8 trillion (£8.7 trilion) in declared liabilities – making it, by a long way, the world’s largest debtor. Around $414bn of US taxpayers’ money went on sovereign interest payments last year – around 4.5 times the budget of America’s Department of Education.

And Republicans have just committed to Obama's massive new stimulus plan in this "Bush-era tax cut compromise". Hundreds of billions in new, useless spending with money we're borrowing. This is after the Republican victory - apparently Republicans like Chuck Grassley and so-called fresh blood like Kristi Noem are too busy oinking for ethanol subsidy pork to worry about the future of this nation or any semblance of commitment to fiscal sanity.

The Republican class that will take over the House hasn't even taken office yet and it's already clear that it's just going to be business as usual. Our political class, Democrat and Republican, is bent on borrowing and spending the US into second-rank status as a nation.

[Jack Hammer]

So, in layman’s terms, this means that... basically we’re all completely fxxxed?

[Hostage]

Around $414bn of US taxpayers’ money went on sovereign interest payments last year – around 4.5 times the budget of America’s Department of Education.

I love how a problem and a factor in its cause are inadvertently embodied in one sentence. The author has no clue but he wrote it but assuredly doesn't see it.

[JustTheTruth]

Yup; the dollar is going down, down, down, down ....

Too bad most of the sheeple are clueless about it and about how to protect themselves and their savings. Very sad.

[TheThinker]

US Treasuries last week suffered their biggest two-day sell-off since the collapse of Lehman Brothers in September 2008. The borrowing costs of the government of the world’s largest economy have now risen by a quarter over the past four weeks.

Now, what say you Republican legislators who want to vote for this Tax Bill that's chock full of pork?

Well?

[Rocky]

Meanwhile, Congress debates Don’t Ask, Don’t Tell and DREAM amnesty.

The Obama Administration continues a moratorium on new oil wells offshore, has the EPA restricting CO2 emissions and putting a much tighter restriction on ozone, has OSHA putting much tougher requirements on industrial noise levels, and many more regulations that will cost business a lot of money and make them less competitive internationally.

The Democrats seem bound and determined to destroy this country, and they have just about succeeded. We are in for economic hell.

Don’t let people forget that the Democrats did this.

[Drago]

Since the Libs mantra is always "tax the rich!", "tax the rich!" and I am getting extremely tired of the "wage envy"...I did a little math.  According to the government there are 2,372,000 households earning more than $250,000.00 per year.  That group's mean income is $426,000.00 per household. So if we were to tax them 100% of their income (Ha!), that would raise a total of $1,010,472,000,000.00 (a little over $1.01 trillion).  The yearly federal deficit for 2009 was $1.42 trillion, for 2010 it was $1.29 trillion, and we are on track for a $1.21 trillion deficit this fiscal year!!!!  Is my math wrong?  Even if I am off by 50%, we are still up a river without a paddle!

http://www.census.gov/hhes/www/cpstables/032010/hhinc/new06_000.htm

http://seattletimes.nwsource.com/html/businesstechnology/2013650100_apusbudgetdeficitglance.html

 

[DuncanWaring]

Ping.

[Praxeologue]

U.S. borrowing costs have risen 28 basis points over the past month, not “28pc” as the academically challenged “journalist” stated. The same applies to his comment about German debt service. This reflects poorly on The Telegraph.

[The Comedian]

"Unexpected" ping.

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...

Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

[Just mythoughts]

bttt

[Glenn]

Around $414bn of US taxpayers’ money went on sovereign interest payments last year

That is slightly less than the entire GDP in 1957.

[April Lexington]

REPEAL THE TAX CODE! The Federal Reserve and Tax Cheat Geithner have proved beyond a doubt that the Federal government can now just print and spend money. No need to further burden the tax paying public. Just pull a Federal budget out of the executive's *ss, have Congress pass the thing, have the Treasury whip up some bond documents and sell them to the Fed! Who needs tax payers anymore?!?!?! Or, Chinese lenders for that matter!