1.6 Trillion! Where do you stand?
 

Just curious what folks thought about our current deficit. A year ago at this time 456 Billion was terrible and Americans on both sides were outraged. Both Obama and John said they would curb spending.

Now 7 months into the new administration that figured has tripled!!!

I feel cheated!!!!

Re: 1.6 Trillion! Where do you stand?
 

can't disagree with you on this ... it's disgusting.

I just feel Obama is trying alternative medicine to try and cure a terminal illness. I don't see how it is going to work.

Energy is the economy. Not printing presses.

Re: 1.6 Trillion! Where do you stand?
 

Oil got us into this mess or should I say the speculators and all the jackasses that let them do it. So I can't disagree with you either.

I just can't believe that the same outrage isn't there over our deficit tripling in less than 7 months. What do we have to show for it? A broke car company, ****ed up banks and the economy probably is where it would have been (or at least in the same ballpark) had we not done the bailout.

Yet no uproar over it. Does it truly have to be an election year to get the douche bags to get off their couches and get pist?

I think the cost of the Health Care plan or the true lack of known cost for the public option in the Health Care bill is part of the resistance. But I don't see it as a major driving force behind it. Which is a shame, IMO.

Re: 1.6 Trillion! Where do you stand?
 

Let's all remember that the economy is now stabilizing due to a prompt injection of cash necessitated by the greatest economic collapse since the great depression. We made a choice and usually that's the right choice. Economists generally agree with the approach as well, and it appears to have worked.

That said we can safely say that everybody opposes deficits. I certainly do. And our current situation is worsened by 40 years of deficit spending. That is the real problem. Once health care reform is no longer the top priority balancing the budget should be the next priority.

Re: 1.6 Trillion! Where do you stand?
 

The is chump change the administration just raised their 'estimate' of the debt by another 2T more.

Of course we should believe their 'estimates' on the cost of health care, after their utter failure to predict the deficit & the levels of unemployment.

News: Australian Stock, Share & Commodity Markets News - Tradingroom.com.au

Re: 1.6 Trillion! Where do you stand?
 

apple, i have to disagree with you here.

The economy isn't stabilizing at all. This is the calm before the storm. A mirage.

As of just last week, the FDIC is bankrupt. ... Want more signs? 150 additional banks are about to collapse, our government is buying up its own treasuries (despite it lying to us that "demand is strong" for treasuries), unemployment is closer to 17% and rising, and... whaddya know? oil prices are going right back up...

Optimism about a recovery starting to fizzle

Observers expect stocks’ rally to end as economic reality starts to set in

By John W. Schoen
Senior producer
msnbc.com
updated 1:27 p.m. ET, Mon., Aug 17, 2009

What happened to all the optimism?

Less than a week ago, many people were celebrating the beginning of the recovery. The Federal Reserve itself claimed the economy is “leveling out.”

Now some investors and market watchers say the stock market may have overestimated the prospects for an economic rebound — and share prices could be due for a bigger pullback after a 50 percent surge since March.

Re: 1.6 Trillion! Where do you stand?
 

Well there is a difference between projected and actual. I have been working with government budgets since I was 18 (not that I was making the budget, but working within them). And every year we seem to do a "five year projection" and the current year never seems to line up with the projection from the year before.

Projections are a joke and are a waste of time. They spit out a number that is based on the current situation, with little to no room for wiggle. And on top of that how can anyone forecast a fluid situation that is massaged by unknown future events?

When in your life has your situation not changed for a whole 5 years? Let a lone 10!

Although if our government keeps spending trillions of dollars a year when it is only receiving billions....well then it doesn't take a mathematician to figure that out.

Re: 1.6 Trillion! Where do you stand?
 

Golden Boy is running the show now so there won't be to much blubbering about it.

He Has Such A Beautiful Smile

Re: 1.6 Trillion! Where do you stand?
 

The deficit number is so bizarre and incomprehensible that I have a hard time picking one entity to blame so I'll blame them all, including many of my neighbors, friends and family for voting for Republicrats, borrowing way more than they could ever pay back. Meanwhile, we stood idly by while our government waged unnecessary wars to line the pockets of their friends, spent like a drunk, allowed corporations to export jobs, failed to renovate our energy policy, and set the Chinese up to rule this coming century.

We're to blame for being lazy, afraid, obedient, stupid, and easily distracted.

Re: 1.6 Trillion! Where do you stand?
 

1.6 trillion??? Try 11 TRillion. That's Obama's bill to America so far. National debt hits record $11 trillion - Manu Raju - POLITICO.com

$11 trillion US debt - Google Search

But he travels well, his wife gets her $5000 hand bag and $600 sneakers, and they get to romp on the Vineyard with the Kennedys and Kerrys.

And Nancy Pelosi and Harry Reid just requisitioned several new ultra-luxury private jets for their weekend get-aways to the Caymans, Aspen, the Hamptons and other (undisclosed) locales.

Ted Kennedy wants to appoint his own successor for when he dies.


What a country.

Learn Chinese, you're going to need it. Certainly your children will.

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