[Rockitz]

This “negotiation” now is all about politics and how the public perceives who will take the blame for the coming depression, which is inevitable. Unfortunately, Obama has the media on his side and should easily be able to hang this on the GOP. If the GOP does nothing, Obama could easily be defeated in 2012, but it will probably be too late to save the country by the time that happens. Obama’s fatalistic policies are scary and I’m convinced this is what he wants- a nation that is counting on the government to save them so he can redistribute wealth to his heart’s content. Possibly Mitch McConnell understands this and that’s why he’s pushing his plan. God help us!

[goodnesswins]

Like Rush said....it’s just something the Dems use all the time....”The Debt Ceiling” is the pinata that the Democrats use to batter the GOP....every couple years....like clockwork. If there is a CEILING...how come we are hitting it every year or two!!!

[unkus]

Most people in this country are in for a very unpleasant and rude awakening. Their Hope and Change is going to be ugly and uglier.

[Jim from C-Town]

Most of this we on this website either know tis or have suspected it for years. Some we have said ourselves, but when you read the entire article and it is laid out in black and white with verified numbers...It just scares the living hell out of you.

[Jim from C-Town]

In other words the boat is sinking and there ain’t enough life boats. Most if not all of us do not qualify for saving, and if you where smart enough to save anything, the government will come to get it in a last ditch effort to keep from facing reality.

[andyk]

All one can do is move items around, an exercise akin to furniture rearrangement on the Titanic.

If that point comes, and the debt ceiling is not raised, and we have to prioritize revenues, I do not consider that akin to "furniture rearrangement on the Titanic". On the contrary, it is an acceptance of the cold hard reality of our profligate ways. It is the first of many steps.

[Republic_of_Secession.]

Just rearranging the deck chairs on the Titanic now.

[PieterCasparzen]

WE ARE SPENDING $3.8 TRILLION AND ONLY TAKING IN ABOUT $2.2 TRILLION IN 2011. THE DEFICIT IS PROJECTED TO BE $1.6 TRILLION.

I drew up a neat list in another post that cut over $1 trillion in spending without touching defense, SS or medicare. It’s easy, but Washington DC does not want to lay off hundreds of thousands of Federal employees.

But if we did that, we’d save the ship and within a few years the economy would be booming the government would be well on it’s way to starting to pay down it’s $15 trillion in debt to a more reasonable level.

Comparison of nObama’s first year and current year

NOTICE THAT THE 2011 DEFICIT IS MORE THAN TOTAL CORP AND INDIVIDUAL INCOME TAXES COMBINED IN 2008. DOES THAT BIG OF A DEFICIT MAKE ANY SENSE IN JUST THREE YEARS ?

U.S. Federal Government Spending Comparison, 2008 and 2011
Figures given in billions of U.S. Dollars

Category_______ FY 2008 FY 2011 INC/(DEC) INC/(DEC) %
Pensions_______ 659.8_____793.2_____133.4____20.22%
Healthcare_____ 671.4_____882.0_____210.6____31.37%
Education______ 101.8_____129.8______28.0____27.50%
Defense________ 729.6_____964.8_____235.2____32.24%
Welfare________ 322.3_____495.6_____173.3____53.77%
Protection_____ 47.1_______60.7_______13.6____28.87%
Transportation_ 77.6_______94.5_______16.9____21.78%
General________ 20.8_______33.2_______12.4____59.62%
Other__________ 99.3______158.4______59.1____59.52%
Interest_______ 252.8_____206.7_____-46.1____-18.24%

Total__________ 2,982.5____3,818.9____836.4____28.04%

U.S. Federal Government Revenue Comparison, 2008 and 2011
Figures given in billions of U.S. Dollars

Category_______________ FY 2008 FY 2011 INC/(DEC) INC/(DEC) %
Ind. Inc. Tax___________1,145.8__956.0___-189.8_____-16.56%
Corp. Inc. Tax___________304.3____198.4___-105.9___-34.80%
Social Ins. Taxes________900.2____806.8____-93.4____-10.38%
Ad-valorem Taxes_______140.1____132.9_____-7.2___-5.14%
Fees & Charges___________0.0________0.0_____0.0
Bus & Other Rev__________33.6_____79.5_____45.9___136.61%

Total___________________2,524.0___2,173.6___-350.4____-13.88%

Surplus/(Deficit)________-458.5__-1645.3__-1,186.8____258.84%

[NoControllingLegalAuthority]

Based upon the chaos we are watching in Washington, DC, there is no way to avoid a complete financial collapse of the United States of America.

Politicians will not administer the bitter medicine required to save the country.

There is no sanity left in government. All is madness.

There is now no escaping the collapse because the cowardly leaders want to nibble around the edges when a phalanx of bulldozers is needed to stop runaway spending.

Those politicians who caused our nation's collapse will unsuccessfully try to hide from the wrath of the people when the firestorm quickly moves into the streets.

The liars and con men of government will be subjected to summary justice.

We have been led by a national capitol city full of Bernie Madoffs.

It will be every-man-for-himself anarchy.

The entitlement mentality will not die a quiet death.