Posted on 07/12/2010 1:50:08 AM PDT by Kartographer
The heads of President Barack Obama's national debt commission painted a gloomy picture Sunday as the United States struggles to get its spending under control.
Republican Alan Simpson and Democrat Erskine Bowles told a meeting of the National Governors Association that everything needs to be considered — including curtailing popular tax breaks, such as the home mortgage deduction, and instituting a financial trigger mechanism for gaining Medicare coverage.
The nation's total federal debt next year is expected to exceed $14 trillion — about $47,000 for every U.S. resident.
(Excerpt) Read more at news.yahoo.com ...
We need a board of politicians to tell us we’re in financial trouble? I think millions of Americans reached that conclusion months ago. We also note that the politicians’ solution is not to stop their profligate spending, but to simply take more of our hard-earned money to pat for their spending spree. They need to experience some personal unemployment ASAP!
TC
Let us put Nancy Pelosi, Harry Reid, and The Usurpers triad portraits upon this tragedy!
I couldn't agree more.
Too bad the worthless swine will all have cushy jobs selling out the country waiting for them in the private sector, thanks to sympathetic companies and non-profits willing to give their pals a paycheck.
I missed where anyone in Washington has put any effort at all in controlling spending.
The FDIC will lower its individual account insurance coverage in 2014 to $100K from the now current $250K.
The SEC passed rule changes back Jan. 28, 2010 to allow all banks to freeze all money market assets in the event of a 'crisis'. Interesting that 'they' never defined what a 'crisis' was to be.
Commercial real estate is imploding.
The second wave of Alt-A & Option Arm mortgages are beginning to reset this month.
Go to the grocery store and see what food costs now.
The price of gold and silver continue to rise.
The only jobs basically being created are in goobermint.
Layoffs continue.
Yeah...we need to pay mouthpieces in DC to tell us things aren't good.
Simpson is garbage. Another Republican carrying Barry’s bongwater. This is all so transparent. These clowns are talking up crisis to justify a VAT. Well at least Boehner wrote a strong letter against the VAT. We can all sleep better with that in mind.
“Republican Alan Simpson and Democrat Erskine Bowles told a meeting of the National Governors Association that everything needs to be considered”
The best thing to be considered for most politicians is to line them up against a wall.
“The best thing to be considered for most politicians is to line them up against a wall.”
Actually, I’d just like to have them chained together at the ankle, picking up garbage at the roadside.
Why dont they just save a lot of time and say folks just send in your entire Check whatever it is. As for food,housing,Clothing Health Care,etc.just show up and the Government will give you whatever you WANT. Problem solved
Poor Obama so WANTS to keep his promiss not to raise taxes on the “working class.”
But his phoney contrived “Debt Commission” gives him no choice.His hands are tied so the broken promiss is not his fault.
He must think the American people are sooooo stupid!
Just shut down Washington DC for 5 years and let the American People do what they do best work and Produce and we Tar and Feather anyone who goes into Politics and America will rise from the Politically correct Morass it has been in for 50 years.Lock up all the politicians who have been in Washington for longer than one term for Theft and Conspiracy to Destroy the Constitution
Last I checked it isn’t the Executive branch that controls the purse strings.
I’m sure that the House is tickled by this. They get to avoid responsibility by hiding behind a presidential commission.
“The heads of President Barack Obama’s national debt commission painted a gloomy picture Sunday”
^
Tell us something we don’t already know
^
Transcript of Pelosi, House Democratic Leaders, and Economists’ Press Conference Following Economic Forum 10/21/2009
http://www.speaker.gov/newsroom/pressreleases?id=1414
Former Federal Reserve Vice Chairman Alan Blinder—“So for that reason, despite the fact that we’re looking at an absolutely horrendous long-term fiscal outlook,
+++ that everything needs to be considered ++++
Except control of the beauracracy .......
Look, it's obvious that this "debt" is going to be repudiated and that some form of actual money will be restored.
The "how" and the "when" are not yet known, but there's no reason for the "debt" to make anyone gloomy except the traitors and thieves who created it - and when the hammer comes down, they will have a lot more to worry about besides useless paper.
We have a standing commission to make these decisions. There are 535 of them. The debt and deficit are not constructs that appeared apart from the actions of the 535 requiring the “wise men” led by Erskine to deduce from where they came.
Each one of those bastards that look in the mirror in the morning know the truth. But first they see a coward.
Ah yes, the Mussolini treatment. That would be the best. A public display.
I agree. BO has us in one hell of a mess and I don't see a way out without a lot of US getting hurt badly. I only hope they get hurt too. I doubt that will happen.
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