Our Gov't is lying month after month.... - New England Patriots Forums

PatriotsReign · 01-13-2010, 11:32 PM

This pretty much sums up the state of the US economy....

"Trillions of dollars of taxpayer money has been wasted and all we have to show for it is a meager 2.2% GDP. Most of that GDP improvement came from additional stimulus efforts via cash for clunkers and an improvement in low-end housing prices thanks to huge tax credits. Both housing and autos are destined to die on the vine. There is no lasting pent-up demand.

Spending money we do not have, borrowed into existence on the backs of future taxpayers, can never produce a recovery. The current improvement in economic conditions is simply an illusion, like Swiss cheese without the cheese. Take away the stimulus cheese all you have is holes. That unfortunately is the true state of this recovery."

I guess our gov't doesn't want us getting too depressed about our economy. Why else do they keep talking as if things are looking good? I'm taking my retirement investments out of stocks before the second bear market comes.

Mish's Global Economic Trend Analysis: Swiss Cheese Recovery, More Holes Than Cheese

***DarrylS*** · 01-14-2010, 06:07 AM

To put this in perspective and to silence the selective outrage..

Cost overruns have military facing 'train wreck,' McCain says - CNN.com

Quote:

McCain and Sen. Carl Levin, D-Michigan and the chairman of the Senate Armed Services Committee, said the cost of 95 major weapons systems -- ships, aircraft and armored vehicles -- have ballooned by a total of 30 percent in recent years, to about $1.3 trillion. The senators announced an effort, including legislation, to rein in that spending and tighten Defense Department oversight.

With U.S. troops fighting two wars overseas and personnel costs dominating the defense budget, "We're facing a train wreck," said McCain, the ranking Republican on the committee and the GOP's presidential candidate in 2008.

http://www.nytimes.com/2006/07/11/bu...1overruns.html

Quote:

The G.A.O. estimated that cost overruns on 23 weapon systems it studied in April came to $23 billion. In addition, there were delays of at least a year in delivering these weapons, with some programs running as much as four years late, like the Army’s $130 billion Future Combat Systems to provide soldiers new computerized ground equipment.

FOXNews.com - Gates Calls for Cuts to High-Tech Weapons Programs

Quote:

The Government Accountability Office reported last week that 96 of the Pentagon's biggest weapons contracts were over budget by a "staggering" figure of $296 billion.

A bill in Congress would require the Pentagon to do a better job of making sure proposed weapons are affordable and perform the way they should before the military spends big sums on them. The Defense Department has already adjusted its acquisitions policy to achieve some of those

goals.

PatriotsReign · 01-14-2010, 06:18 AM

Quote:

Originally Posted by DarrylS

To put this in perspective and to silence the selective outrage..

Cost overruns have military facing 'train wreck,' McCain says - CNN.com

http://www.nytimes.com/2006/07/11/bu...1overruns.html

FOXNews.com - Gates Calls for Cuts to High-Tech Weapons Programs

goals.

we agree on military spending darryl. How many weapons are enough? You can only destroy the world once, yet we have enought to do it 10 times over.

But it's not the cause of our recession...not even close. Yes, it is THE major contributor to our soaring national debt.

Yet, your comments take nothing away from the points in the article I posted. It's just more waste upon waste and it's doing nothing.

***DarrylS*** · 01-14-2010, 07:00 AM

Quote:

Originally Posted by PatriotsReign

we agree on military spending darryl. How many weapons are enough? You can only destroy the world once, yet we have enought to do it 10 times over.

But it's not the cause of our recession...not even close. Yes, it is THE major contributor to our soaring national debt.

Yet, your comments take nothing away from the points in the article I posted. It's just more waste upon waste and it's doing nothing.

My comments have to do with duplicity and silence on the real issue that has been draining this economy for the past 50 years...

1.3 trillion dollar overruns, wait until the Tea Party hears about this...