World markets may impose balance on the USA following some big event -some
scenarios out there:further rise in global monetary inflation, fueled by
lax US $ policies;the 10-year US Treasury bond loses status as a risk-free
asset; investors wont touch it; dwngrade of AAA rating on US govt bonds;
interest rate on public debt jumps higher;jumping commodity prices;Japan
sells US govt bonds to raise fund for rebuilding;Seditious George Soros
(while shorting the US dollar) proclaims the collapse of the dollar and that GOP
is to blame;abandonment of the $ as the global reserve currency;Arabs halt oil trades in $; China stops buying govt bonds until we restructure
entitlements and debt;the Fed prints another $1T to buy up more US
debt.Leading to any of the below following a loss of confidence in US
government solvency-Paper assets suddenly worthless. Crashes, and closing
of the US stock markets. Inflation. Stagflation. Failed businesses.
Unemployment. Shortages. Gasoline lines. Street demonstrations. Panic buying.
Soaring gold and silver prices. Looting. Martial law. Unchecked gang violence.
Collapse and shut-down of US government services and entitlement payments.
Atlas Shrugged? Just saying-
All of the media fearmongering about a government shutdown. about who won and
who lost, about who got what, all the endless talk about compromise, agreement -
useless hype ignoring the underlying economic realities.Fiscal
discipline will eventually be imposed. The only question is whether we have the
political will to do it ourselves, in an orderly, structured way that involves
some immediate pain, but which allows us to be the masters of our own destiny?
Or whether it will be abruptly imposed upon us by powerful international market
forces, in a manner that results in economic misery and social and political
upheaval?Clearly American politicians lack the political unity,
sense, and will to put their own financial house in order. Therefore, we should
probably start thinking about the alternative the ways in which fiscal
discipline might be imposed on America by the international markets, and what
the ramifications are likely to be.Fiscal balance will eventually be
restored, one way or the other.(To be continued)
What to cut. Let's start with the agencies that are failing. Energy, established
to cut dependenc eon foreign oil. Budget now at 40 Billion and we are more
dependant than ever. Education, everyone can see their failure. EPA just a
business barrier. Congressional perks, make them live by the rules they pass for
the peons. Federal Reserve, We own 50% of it anyway and look what it is being
used for.Eliminate the IRS by eliminating the income tax and move to a national
sales tax which already has a collection mechanism in place that is efficient
and free. Cutting just those few bloated bureucracies would save hundreds of
billions per year. And stimulate private enterprise job creation.
Wastintime: YesPS Single fathers can also collect on the EIC.
They would have kept working, it's a JOKE!!! Most ALL AMERICANS ARE PANZIES!
Quit your crying, and just BUCK UP!!! Bite the Bullet, and know what will be
coming down the pike sooner or later, all this paper pushing is just making it
worse down the road! Kind of like Blaming Hoover! He had the right idea, but a
lot of Americans needed a scape goat! He did the right thing for the most part!
Let Private industry and VOLUNTEERS take care of the problems and let the
government stay out of people's lives! What is wrong with all of you people???
FDR was the MISTAKE! He dragged this country through a deeper depression than
the recession was in 29 to 32! Now look at us, "I need this, and the
government should give me that, Boo Hoo!" Does my family have it tough, at
times, but we make it work with what we have! I'm so sick of every needy
American crawling to the government for everything! And I collect Social
Security Disability! That is what FAMILY & Charity is for, NOT THE STINKING
GOVERNMENT! Get out of our lives!!! Pay the Debt!
You're right, the State can't even run a liquor store, but at least they
recognize that fact and they're shutting them down instead of running them into
the ground and its citizens with it, unlike the feds who just keep pumping money
into a failed, corrupt program.
I turned on my TV yeaterday as I felt it best to follow this issue, and see what
the talking heads had to say. Less Bias then I thought and some good information
came forth for at least awhile. Then it got so "The Sky is Falling In"
my limit of getting worried about something I have no control over is, if its
Not Tet and I can Go after its over then I do not get to worked up. However I
had my TV On and my Shade Tree Plumber and good Church Brother of 10 years was
having trouble getting parts for my Bathroom Sink and Shower.Like
the Government in the end he worked it out. When I heard that part
of this was over funding for PP and others like them, my Broken Heart Soared. At
last someone was standing up and doing somthing about the Murder Of the Unborn.
The Troops will in the end get paid. However many things Troops buy
are paid for by Auto Bank Draft. The Draft is Automatic weather the Money is
there or not. They get Charged way extra if the Draft Bounces. So Pay needs to
This budget might be a symbolic victory towards limited government, but the
fundamental problems won't be fixed until the general population becomes willing
to deal with the big issues.Here is what I do:1- Cut
military spending by 50% and pull out of Iraq, Afghanistan, Libya, Germany,
South Korea, Japan, Israel, etc. Our military should fight in declared wars,
not try to save the world.2- Increase the social security retirement
age.3- Overhaul the U.S. medical system by providing all U.S.
citizens with a *predefined*, *limited* , and *basic* amount of healthcare.
Citizens should be entitled to *basic* healthcare, in the same way they are
entitled to basic level education. For health care beyond that basic level,
everyone would be free to turn to the free market. This would fix Medicare and
stop the spiraling costs of healthcare.That would be a good start to
addressing the real issues.
Good afternoon. Here's my "Rants n Raves" again Utah. The bipartian
agreement will slice $38.5 billion in federal spending, but Rep. Allen West says
that's not enough. So he says he will vote against the measure when it arrives
in Capitol Hill sometime next week. Congress approved a stopgap measure after
the budget deal to keep the federal government operating until final details in
the budget deal can be hammered out. "It's all about the money," said
West (R-Fla.). House Speaker John Boehner and President Barack Obama are
hailing Friday night's last-minute budget deal that averted a government
shutdown. But Republican Rep. Michele Bachmann is not a fan of the agreement
that will slice $38.5 billion in spending, calling it a
"disappointment." Americans who expected $100 billion in cuts, who
wanted to make sure their tax dollars stopped flowing to the nation's largest
abortion provider, and who wanted us to defund Obamacare got squat again. Obama
said today that Americans are just going to have to get used to higher gas
prices. To which Dick Cheney said, "That's change I can believe in. I like
this Obama guy."
I want the Abortion to STOP!! If you have to shut down the whole
U.S. Government in order to accomplish that, then please do so.I
want the funding to PP and people like them to be severly cut. Get a
Copy of Juno and you will see what I mean. The scene in the Abortion Clinic was
so on the money. The little Asian Girl ( from Gilmore Girls) standing out side
with her sign fighting the good fight. Planting the seed in the Mircale Grow
that would save Not One but two lives. Also note the support from Junos father
and stepmom.I was a Troop for 8 years we went through this a couple
of times, we always got our money.Troops today are much better paid,
much better housed in most areas and much better taken care of. Troops move as a
unit so you do not have to clear your housing and figure out where family is
going to stay. Some Troops live on the edge payday to payday, Paying
back the 30% Payday loan and taking out another.Those places need to
be Off Limits.
Obama has again displayed great skill in his poker playing ability. His lead in
dealing the senate a budget which is mauch more than he wanted is a stroke of
genius. While congress and the American public are lying on the ground in
gesticulating spasms of denial over the trillion dollars in interest alone that
this budget generates, he later rescinds this amount to one which sounds more
logical in comparison. This method of five card stud is similar to the king
sentencing an errant subject to the guillotine, but later recants and reduces
the sentence to merely chopping off an arm and a leg. When the real interest is
much later revealed (in incomprehensible language)to be "only" 3/4 of
a trillion bucks in "borrowed" funds, we shall all live happily ever
after shouting, "We will obey! We will obey!"His next hand
wil be to mask his inadequate liberal administration's performance by
discrediting any legitimate Republican Presidential contender. Pure brilliance!
re:metamoracougone correction: I was using older figures than you. I'll explain CBO's (not my) analysis to you.Payroll taxes are FICA
taxes ie. Social Security, Medicare, state disability(SDI). These taxes are not
"returned" to them. However, It is possible that a
single mother with 2 children, earning $20,000 or less can take advantage of the
Earned Income Tax Credit and the Child tax credit to effectively wipe out the
amount she paid in payroll taxes. Is this the demographic you are worried
about? Do you believe we ought to take more money from the children in this
"Historic," we got the government funded for another week. That makes
history! Yeah, right.
boring guy 11:44I will choose number five, but without the rise in
taxation. We the people are overtaxed not under taxed. We need, as a nation,
to live within our means.Cut it all, cut it now!!!
Tea party has now run it's course. With Trump at the helm the rudderless barge
will get lost at sea.
Wastintime: People who work have payroll deductions, but a substantial
percentage of these folks get the entire amount they paid in returned to them --
sort of a one year interest free loan to the government. Thus, if these people
are included, 48% pay no income tax. Sales tax can't be included in a
discussion of the federal deficit because it is almost exclusively for state
revenue. Although I despise Illinois political leadership
(oxymoron?) I am coming to like the tax system: a)here's what your income is;
b)times that by .05, this is your tax liability; c)here's how much was withheld;
d)subtract c from d and send in the difference.
@ Peter, You really want the state running all federal programs...... The
politicians in this state can't even figure out how to run a liquor store. How
would they manage everything the feds currently do?
These are politicians who know their numbers are tanking. Please do not get
sucked into the lie. They knew all along that they were not going to shut down
the govt but waited until the last moment so they could have all the drama and
try and send us the message they are working hard. This was nothing more than
smoking mirrors on both sides of the isle. Democrat,Republican, Independent.
They are first and foremost politicians. please do not believe them.
It is a measure of the bias of the news media that there was even any coverage
given to the possibility that a shutdown would work to the political detriment
of the Republicans.The Democrats could have ....and darn well should
have.....passed this budget in September....before the start of the federal
fiscal year on 1 October.They had all the power then, but failed to
do the duty of the Congress. That should have been the only thing
the GOP leaders talked about from the election until about 10:OO pm last night.
We averted a shut down, now what? Before discussing more cuts we need to do 2
things: 1) exempt our soldiers from any harm that could be caused by a budget
impasse; 2) put the Bush cuts back on the table. Restructure the new tax
reductions so that it is geared to small businesses and the middle class. We
need an open discussion of whether the Stanford Harvard economic paradigm
really is good for America. An unregulated capitalistic system, void of safety
nets, that unfetters the secret hand that lifts us all, leads to civil unrest
and revolutions. Who can function and think clearly when he has to depend on
handouts to feed his family or rely on a merciful doctor to cure his dying
child. Perception affects our attitudes almost as much as reality. It is like
the sophomore at Mountain Brook High School being depressed because she had to
drive a new Honda when her peers drove Porsches and BMWs. The middle class must
step up and stop our rush to the top in income distribution or the rush to Sodom
and Gomorrah morally.
What a bunch of theater.
FYI Madden and others:Planned Parenthood performs pap smears, breast
exams and other tests to detect cancer. I think all women should
vote out these old (and young) white conservative men who don't have a clue
about women's health issues.
If the Republicans were serious about the deficit they never would've pushed to
extend the tax cuts on higher levels of income. That would've saved $69-$70
billion just this year, not counting the interest we will pay to finance the
upper-income tax cut. In its January report, The Budget and
Economic Outlook: Fiscal Years 2010 to 2020, the CBO projects that a full
extension of the Bush tax cuts, plus a permanent fix to the Alternative minimum
tax, will cost $3.7 trillion over 10 years.re: metamoracougActually, the figure is 38% of Americans pay no INCOME tax. Everyone who
works is liable for payroll (gasoline and sales)taxes. The Congressional Budget
Office found that earners in the lowest quintile, where most of those with no
income tax liability fall, shouldered 4.3 percent of the payroll tax burden in
2005 and 11.1 percent of the excise taxes. Their effective tax rate (which is
calculated by dividing taxes paid by total income) in those categories,
according to the CBO, was in fact significantly higher than the rate of the top
And what a relief Obama can now leave for another taxpayer funded vacation.
History has long proven that the feds can't be trusted with taxpayer dollars.
The farther away from home our taxes go, the less accountablility the citizens
get re: money spent. All federal programs can and should be run at the state
level. The feds just waste taxpayer wages under the pretense of taking care of
its citizens. Einstein said it best that we can't solve problems with the same
minds that created them. We as a nation are becoming weak because we can't
stand on our own feet anymore. We don't want to leave home, rather we want
mommy to take care of us till she dies. Then what?
Right, Harry Reid is a stand up guy....because of course the GOP wanted to kill
women by unfunding cancer screenings. What an honest fellow! These politicians
all need to go. Grandstanding almost cost a lot of people a lot of heartache.Thank goodness this was avoided. This time.
My2cents "The Republicans had no choice but to put Obama on notice that the
treasury is not a private bank account for his personal use." Really, his
own private bank account? AT, we've run out of foreigners to buy
our debt?? The treasurey bond market especially in Asia has hardley moved at all
and then only in response to employment numbers. Your statement NOT TRUE. We
are buying some of our own bonds but a whole different issue has nothing to do
with no other buyers.
It's a start. We still have far to go.Leave it to Obama and Reid to
take credit for this. Remember, Obama's own budget didn't propose these cuts.
Reid accused the opposition of pursuing budget cuts in order to kill women.
Neither had the courage to do this in a timely manner last year, when their
party had control of the government. They were dragged to it kicking and
screaming.So, yeah. Whatever.The point is, the first
step has been taken. Now we have to consider the failing entitlement programs,
which are destroying our national solvency. If they are to be saved, they will
have to be reformed. There aren't enough rich people to save these programs, no
matter how high we set the tax rate.Good thing we have a few people
with courage in government. We need many, many more. Keep in mind that there
are still weasels who need to be thrown out, and 2012 is a good year to do it.
My2Cents, so you were happy with Bush's deficits?
This is nothing. Americans have no idea the kind of pain we need to inflict
upon ourselves to save the country. I guess we will just have to learn the hard
way. Try cutting 50% of all entitlement programs, and you might have a chance.
For example, we spend trillions in health care, and for what? Our mortality
rate is increasing anyway(recently). We should return to traditional values,
take care of our seniors in the family. If you can afford to keep yourself
alive with expensive treatments that, in the end, add maybe a few years to your
life, go for it. In other countries, they do not have this obsession with
mortality. I know I've wandered a little off topic, but it is relevant to the
budget crisis in this country.
Christy: I agree, the conversation needs to change. Fixing the deficit should
hurt everyone: wealthy need to pay more, but 48% of Americans pay no income tax.
Why are they not paying their "fair share?"Boringguy:
Here's specifics:1)the US provides about 25% of the UN's operating
budget. It's time to let some other folks pick up more of the tab.2)disability payments have skyrocketed in the past decade because the rules
and regulations are to vague and tons of people with "back injuries"
and depression have filled the rolls. Clamping down in this one area could save
the government as much as Congress cut from the budget last night.3)cut military spending. This would require us to no longer be policeman for
the world and drastically cut back our involvement overseas. At present this
step is an economic necessity.4)Chuck obamacare. It has cost
millions already just to gear up for this approaching medical disaster.5)Eliminate the Departments of Education and Energy. Started under Carter,
these two departments have done nothing to resolve crises in either education or
energy but cost us billions annually.
Here is what we have learned through this crisis. The Commander In Chief vowed
to veto a bill that would have payed the troops through fiscal 2011. But he
would not agree to defunding planned parenthood. In other words he would not
fund the troops but would fund the killing of babies. I am trying to figure
out(as a Veteran) how much hate I can muster.
The Republicans got the best of the Democrats and Obama on this round! Imagine
that, politicians doing what they were elected to do by the people in the last
election: stopping the government from destroying our economy any further by
their out of control wastefull spending! Next task: get rid of Harry Reid, gain
control of the Senate and make Obama a one term President and watch the economy
soar! By the way, if gasolone prices remain high or continue to climb,
Republicans will win in landslides in the next election, soundly rejecting
Obama's no drill energy policy, windmills notwithstanding!
To BoringGuy: you nailed it. I am impressed by your simplicity of answer. Now
we wait with baited breath for the next round. Yee gads.
Wait a minute, the republicans were right to shut down Obama who has by his own
actions put this country in to bankruptcy. The Republicans had no choice but to
put Obama on notice that the treasury is not a private bank account for his
personal use.The Obama administration and the Democrats are the
guilty party and the tragedy of this nation. Obama had to be stopped, even if it
meant to shutdown government.Now I can't believe the news media is
crediting Obama with this cost cutting budget that the republicans created and
stood their ground to get approved. Obama is the criminal here, not our
congressmen. You democrat welfare freeloaders should be ashamed to call
yourselves americans, you are pathetic and part of the economic disaster.
By focusing our attention on this battle over a paltry (by comparison) 38
billion dollars the Republicans, Democrats and the President have diverted our
attention from the real problem ... our 14.26 Trillion Dollar National Debt.That's $45,979.00 for each and everyone one of us.And yet we
continue to argue amongst ourselves, pitting Republican talking points against
Democratic ones. It's time for us to all wake up and understand the real
financial peril the government has put us in.In the history of the
World, no government has ever spent or owed so much money. In the end, it will
collapse and when it does I hope we all remember how they suckered us into
thinking they were really doing something about the debt.
They cut 38 Billion dollars.The U.S. National debt is 14,260 billion
versus the 38 billion they cut.In truth, it's but a few drops taken
out of a tsunami of debt which in the end is going to devastate the U.S.
economy.The U.S. National Debt increases by 4 billion dollars each
day. That means they only cut the equivalent of 9 days worth of the debt.(Statistics comes from the U.S. debt clock.)
Why are we only asking, how much spending needs to be cut? and not, "why
arent some of the most profitable corporations in the history of the world
skating by paying zero taxes?" and not, "why are the wealthiest
Americans enjoying historically low tax rates during a historically high budget
deficit?"Are all you Obama haters going to vote for Trump in
2012? The conversation in this country needs to change.
Shut down postponed, not avoided. Sorry kids, not if but when. We've run out of
enough foreigners to buy our debt, now we're printing and buying it ourselves
(get that, we're buying our own debt!!!). Seen what's happening to the price of
silver, gold, food, oil, (just about everything)? The dollar is going down the
tubes. If you think the fed. govt. is doing a good job of managing the dollar,
keep holding their dollars in your savings accounts (every month they're buying
less and less). If you don't think they're doing a good job, you might start
looking for another option (commodities: gold, silver, oil, just about
I know some that I work with in the Army were nervous about the getting 50% less
for their next pay check. Those families are the ones who the press loves to
exploit on TV to try to scare people. Some of us live debt free and the
government shutting down would have made little impact other than us getting our
pay at a later date. I hope the Federal Government learns to live within their
means. It is a great way to live!
@KMOkay, I'll listen, what spending would you cut? It's easy to get
up here and say you're going to cut spending but I want specifics. Here. I'll
give you your choice from some of the largest segments of the federal budget.
You have to cut these in order to curtail the deficit in any meaningful way.
What would you do?1. Defense and homeland security (cutting this
category would mean a smaller military and pay cuts to service members and
military families) 2. Health care for Seniors (Medicare)3. Retirement security for seniors (Social Security)4. The Dept of
Veterans Affairs (health care service for those who served the nation and
payments to disabled veterans)or5. A combination of
cutting these programs in addition to some tax increases.Which would
you cut and how much would you need to cut to balance the budget??
boring guy (spender)How bout a novel idea ... quit the insane
spending! First the politicians spend more than we can afford, and
then we here people like boringguy telling us we have an undertaxation problem.
In the business thats called a 'set up'.
@Patrick HenryWe may consider raising taxes in addition to cutting.
Just a thought. If you're serious about fixing the debt, everything must be on
Its not enough. Everyday that we run a deficit represents another day where it
proves we have not cut enough.
Crisis averted. For now. $40 billion in cuts agreed upon and the
tea partiers are now vowing to get rid of Boehner for 'compromising'. I'm really looking forward to 2o years in the future when we look back on this
long gone ridiculous caucus and can have a good laugh.
We almost shut down the government over $37 billion dollars? That's what, about
1% of the total federal budget? Can you say "political posturing"?
That's a relief. My nephew just returned to Germany from Afghanistan. They were
told that if the government shut down, they would still be expected to work, the
chow hall would be closed AND they would not be paid. (Which makes it kind of
hard to buy food). WHEW!I like that they are cutting Billions out of
the budget. They should try to do that every year.
I can't believe how hard the Republicans pushed to shut down the government.
Then they tried to use necessary military spending for our defense to manipulate
the system to push the Tea Party agenda through Congress.This is not
good government and Ronald Reagan would not approve of the behavior by the
Republicans today. What they're trying to do is wrong.I say throw
the bums out! Enough of the Tea Party Already!