Posted on 08/09/2011 3:52:43 AM PDT by SkyPilot
You were doing pretty good until you got to this part. Obamacare needs to be repealed, not revised. America, or any other country, doesn't need socialized medicine, in any form. It always leads to ruin, just like the rest of the communist system.
***... the time to let the corrupt banks fail was in 2008 , we should have had 10 Lehmans...***
Thank the democrats for that. Bush tried 14 (that’s FOURTEEN) times to get oversight on Fannie Mae and Freddy Mac. Congress refused it. The “corrupt banks” (and many of them were) were forced to give mortgages to those who could not pay for them, some even had no down payment. The fines for banks to refuse such mortgage loans were high. But as long as Fannie and Freddy (both Democrat institutions‚) were willing to pay the banks when the loans went bad, the banks mortgaged OUR futures. Some banks did even worse, paying assessors to raise the value of the property for mortgage loans. I agree with you that SOME banks were corrupt, but Congress tied Bush’s hands.
In Michigan, I would hazard that nearly every longterm welfare family has at least one child on SSI for the extra $687. a month starting at birth. It bolsters welfare money but not from the Michigan state coffers.
"What will stop the drop"? November 6, 2012
1. Heed the advice of the Bowles-Simpson report on reducing national debt and craft legislation to follow its recommendations. I would include passing the One Percent Spending Reduction Act of 2011 (H.R. 1848/S. 1316) to really start to curb government spending.
2. Overhaul the income tax system to reduce compliance costs, lower the maximum tax rate, phase out obsolete and unneeded tax loopholes, and make encourage more savings and investment in the USA. In short, the Forbes no-loophole flat-rate income tax plan should be something may want to use starting the 2012 tax year.
Sure it ended. It did.
Now this is Obama’s recession.
Can’t blame Bush. So the left can’t let that happen. So claim now, we never left the recession, so Obama can still blame Bush...
Obama’s recession.
Obama’s downgradeS.
Obviously we have to pay it off faster than $100M a day. In other words, as the economy expands (which it will do rapidly once Obama is no longer in power), don't expand the government. I'd like to pay off $500B a year once tax revenues expand to that level due to growth, at which rate it would still take about 30 years to pay off the entire debt (a little less because interest expense would drop over time). After that, cut taxes and never again borrow for the federal budget.
The alternative is to default on the debt. A decade ago, I would have said that is immoral, and I'm still squeamish about that idea, but much less so than I used to be. Those who loan money to an irresponsible and out of control federal juggernaut know that they are betting on an unsustainable system. I'm not entirely sympathetic if they lose that bet. We're not yet at the point where I completely approve of default, but I sure hope the lenders are getting worried. Even if that raises our interest rate, it's worth the price if the higher rates limit the amount of debt that reckless, power-hungry members of the ruling class can impose on our children. I have as little sympathy for Pelosi, Reid, and Obama as I do for any other child abusers, i.e., none.
You pretty much are on top of the situation... well done.
LLS
I agree, but I was trying to make statements that weren't entirely off the radar of what Obama would ever say. In reality, it was all off the radar of what Obama would say.
As a doctor, and as an American, I do believe that something has to be done to address the amount of federal expenditures into Health and Human Services each year. Socialized medicine would be a disaster, economically and otherwise.
The solution should include, in my opinion, an emphasis on lower cost catastrophic health insurance. Most people can afford to pay for a standard primary care visit, or to have their child's ears looked at. Most people cannot, however, afford to pay for extended hospital stays, advanced imaging, and procedures, etc. There's no way to make many of these affordable. There's too much advanced technology and personnel involved (e.g. Imaging equipment that costs millions of dollars to buy and to maintain, 24 x 7 critical care nursing and hospital laboratory services etc.). Insurance companies should be competing nationally to see who can offer the best and cheapest catastrophic care plans. Health Savings Accounts should also be supported. Making the government the middle-man in health care will ultimately increase costs and deliver less.
They still have checks in their checkbooks.
That's it in a nutshell. They have the Treasury's printing press, so they can't run out of dollars. But they can run out of money, if people don't believe in the scarcity - hence the value - of the dollar.
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