Half a trillion bucks, now that ain't bad

[huntindude]

The Bush administration predicts a record 490 billion dollar budget deficit for '09, that leaves out the extra 80 billion for the war so it will be well over half a trillion. this tops the previous record held by guess who? GWB, 413 trillion in 2004.

let's hope the liberals are more conservative than the conservatives have been. a few billion here, and a few hundred billion there and pretty soon you're talking real money.

 

[NeMont]

>
> let's hope the liberals are
>more conservative than the conservatives
>have been. HD,

That is a pipe dream. Obama wants to spend the money being spent on Iraq, which isn't in the general budget. There is not curtailing the spending that these guys want to do. Whether it is borrow and spend or tax and spend doesn't really matter, until the mentality that we can spend whatever ends nothing with change.

Nemont

 

[overton]

Wow 413 trillion dollars. That is alot of money.


Ransom

 

[1911]

Good news is that when we get around to paying it off it will only be the equal of 32 bucks of todays money or about a gallon of unleaded.

 

[overton]

1911

You might be right but don't you think that 413 trillion is a lot of money???


Ransom

 

[1911]

I was just looking for the bright side of things Ransom. It was a glass half full thing

 

[overton]

413 trillion might hold up as the record until the year 2408.


Ransom

 

[NeMont]

>413 trillion might hold up as
>the record until the year
>2408.
>
>
>Ransom


It is billion not trillion. Still stupid no matter what.

 

[overton]

Nemont

Come on I was having some fun. But if it was trillion and I had half of that I'd buy my own continent.


Ransom

 

[1911]

I missed the "tri" part. Sleep deprivation must be kicking in.

 

[eelgrass]

Boy, the little fat a$$ed kids sittin' around playing video games are in for a big surprise in a few years!

Eel

 

[NMPaul]

Got that right eel.

The hens are coming home to roost at some point.

 

[RELH]

Sounds like Eel is saying that us "baby boomers" are going to stick it to the "X" generation that only belives in "me-me-me".

RELH

 

[piper]

I agree there is a lot of spoiled lazy brats coming up but not all and its still not right for us to leave that kind of debt there are a lot of boomers that are going to need lots of medical help ect. and less people paying in, so overall it doesn't look good for this country economically in the future and it looks like the future is beginning now

 

[huntindude]

Yes but taxes are low and we can pass the debt onto others so it's a win win. low taxes also insure a great economy as well, look how good it's working, and if things go to crap you can just bail out the morons with bad loans caught up in the great economy with more borrowed money. once again just more deffered debt, no worries, sure in time the dollar will be worth less than a peso but not in our lifetime if we're lucky. it's all good

Who says economics are complicated, GWB makes it look easy.

 

[NeMont]

As the father of 3 kids under the age of 16 I worry about what kind of legacy we are leaving. My kids already live in a far different world then I grew up in and my grand kids will most likely be the first generation of Americans to have their living standards reduced.

I have no faith in any politician to change this course. To do what has to be done to improve this country would cost either party too much politically. Plus I truly believe that the leaders in Washington DC, in either party, do not care if they destroy this country. As long as they can stay in office is what matters.

Obama will not make a difference in any of this as he will be hobbled with a stagnating economy and a do nothing congress. McCain doesn't understand the importance of acting now to restructure Medicare, Social Security and all other domestic spending.

The best thing any president could do is begin to actually pay off the debt. Just like an out of control spender, we have to cut up the credit cards, have a strict budget and stop making impulse buys (Medicare Rx Drug coverage for one).

Neither of the current candidates even mention such a course of action but rather promise all things to all people.

Look at today and the Mortgage Rescue Bill that GWB signed, that is bad economic policy. Then the Fed is putting taxpayers on the hook for idiotic lending practices by greedy bankers. Again disgusting economic policy. There was a great article in the Wall Street Journal about the dangers of the profits going to the Capitalist but the Risks being socialized. It made me want to puke thinking about what is going on.

Nemont

 

[huntindude]

True story, we are obligated to pass the land and the economy down to the next generation in as good or better condition as we recieved it.

All I can say is I'm glad the greatest generation was more responsible than we have been, they should slap us. I would like to think it's not too late to turn this thing around, but if we don't do it soon just the interest alone on the money we owe will make it impossible to get ahead of it. over $30,000 per US citizen and growing, take into account half of those don't have a pot to pee in, or are retired or just kids and that means $60,000 each for the ones with an ability to pay anything.