Report: US is insolvent, can't pay future bills

Actually, it's the first coming home of the chickens to roost for Ronald Reagan. We'll be paying for THAT senile old shithead's deficit spending for the rest of all our lives.

 

Hey, we had to pay off the Iranians and Nancy's astrologers somehow ...

 

I am thoroughly convinced that someone could start a thread called "GWB screws goat on WH lawn photos" and there would be people on the thread defending him.

Seriously, what does the guy have to do to convince everyone that he's a bad president? 'Cause, dammit, he's trying hard.

 

Look dog, the goat was hot and had been asking for it. Why do you hate America?

 

This admin has weakened the dollar, perceptibly, with its drunken-sailor war spending and its
interest in sustained pump-priming of the economy at least thorough the '06 midterms (not that THAT worked out, but, hey . . . ).
It's undeniable. Look at gold, for chrissake.

The coffee's there, to be smelled.

Just another helluva job by the assholes in charge.

 

Yes, the Chinese sure are getting rich on that 5 percent interest.

 

Five percent interest adds up when you own billions in U.S. debt.

 

As long as the U.S. can print the shit out of dollar bills to pump up inflation and make our debt smaller in terms of real value, America will never be insolvent.

 

I'm sure Joe Sixpack will be happy when that gallon of 87 cost $8.299.

 

Nothing is going to happen to our economy because it's in the best interest of the world -- and yes, even our enemies -- for the US to remain a vigorous consumer society. All those threats the Mideast countries throw around about cutting us off from their oil supply? It would hurt them more than it would hurt us.

That said, I do think it's high time we do something about this debt, just in case a country like China, which holds so many of our dollars, gets stupid to tries to pull something. We're strong right now, but we'd definitely be stronger if we had our financial house in order.

Oh yeah ... all those people propping up GWB ... cut it out. Even Republicans know this guy's got issues.

 

The legacy of LBJ ... (and, before him, FDR) ... government is necessary to fix any and all problems, and the only way to fix anything is to throw money at it.

While I've seen a lot of blaming Reagan & GWB for cutting taxes, one forgets that there are two sides to the coin. NO TAX CUT HAS EVER CREATED OR ENLARGED A DEFICIT. Deficits are created by SPENDING, not income.

And most of the biggest, most inflationary, most bloated spending programs are direct descendants of LBJ's Great Society programs -- and, because they're entitlements, they're the hardest to curtail or get rid of. Medicare is, by far, the worst offender of the bunch.

Carter's Department of Education (outside of DC, the Feds don't educate anybody ... schools are state & locally-run in every state in the Union) is another colossal waste of cash. So, obviously, is pork spending.

GWB was wise to cut taxes (which, IMO, are still way too high).

However, GWB and the GOP congressmen he had with him forgot the principles that got them into office. Allowing people to have THEIR money they earned by reducing the government's take is one side of the coin. Curtailing government spending is the other -- and that's the part GWB (and Congress) have seemingly forgotten since 1994. And it's a big reason why many in the GOP are disillusioned with GWB and their Congressmen right now.

I voted for GWB in 2000 because I believed he'd be the more fiscally-responsible candidate. Cut taxes, cut spending, cut government.

With the exception of his Hillarycare foible, Clinton made a rightward turn and got the budget under control by reforming LBJ's welfare programs and using the line-item veto Congress gave him. Unfortunately, the Supreme Court struck down the line-item veto in Clinton v. New York, and pork spending has gone way, way up.

One thing I'm happy has happened with the Dems taking charge is that some of the Republicans who are actual fiscal conservatives -- Mike Pence, for example -- are beginning to move to the forefront of the leadership.

Although I'm an outspoken Republican, I'm more of a conservative ideologue than a member of a party. If the Dems can be more fiscally responsible WITHOUT RAISING TAXES and get the budget balanced, I'm all for it. I'd like to see the GOP return to its principles and do the same. When they do, they win elections. When they don't, they lose.

 

It's still just five percent. You do not "get rich" on 5 percent. If you own billions of U.S. goverment bonds, guess what -- you already are rich.