There is no way the debt will ever be paid without starting up the printing
presses. And yes, it will cause inflation. Our dollar is now worth $0.10
relative to how I knew it; in the not too distant future it will be worth
$0.01. Or less.
And under 4% is *still* inflation. That rate will decrease the value of a
dollar to 50% in 18 years or less.
The national debt has more than doubled since the social democrats took
control of Congress in 2006 and increased by 6 trillion dollars from the
10 trillion it was when obama took office in 2008.
The obama increase make past Republican and Democrat presidents look
I do not believe in 6 years the social democrats have passed an annual
budget as dictated by the Constitution. Not even in the years when the
social democrats had control of both the Senate and the House.
On Wed, 5 Sep 2012 23:43:36 +0000 (UTC), Larry Blanchard
Has -any- budget surplus ever been used to pay down the debt, not just
interest? Hell, the interest payments alone are far greater than I
can even wrap my little-figured mind around.
The most powerful factors in the world are clear
ideas in the minds of energetic men of good will.
-- J. Arthur Thomson
Yes, creative accounting. I already explained it to Han. The
difference is in how trust fund excess contributions are treated. The
Feds claim all excess trust fund contributions as revenue in the annual
accounting, but do not count the promisory notes placed in the trust
funds as expenses. However, they do count the promisory notes in the debt.
It all boils down to the fact that the increase in debt is the true
indicator that we have spent more than we have taken in since Ike.
"Socialism is a philosophy of failure,the creed of ignorance, and the
gospel of envy, its inherent virtue is the equal sharing of misery"
Despite all that, please read (as I just said elsewhere) this from
I am NOT an economist.
But taken your view a bit further (back actually), spending more than we
take in has been a hobby of every administration, in particular some
recent ones, where taxes were cut, wars waged, medicare expanded, etc,
etc, and NONE of those EXTRA EXPENSES were compensated for by extra
It is my opinion, and you are free to disagree, that the financial
collapse of 2008 forced the administrations of Bush and Obama to spend
vast sums of money to "rescue the economy". Hopefully we'll eventually
dig out from under that particular mountain of debt (the one caused by
Hmmm. Maybe there have been more Republican presidents than Democratic ones
who have increased the amount of overspending, but in dollars? I'd go with
It will take a set of deficits from Republican administrations to approach
the $6 trillion debt from just the current president.
I believe in the coming election there is one big factor that has been
That factor can be summed up in Michelle's response when obama was
elected. She said that that was the first time in her life when she was
proud of America. (You can check this statement in the news archives)
The whole Republican convention was; we are proud of America, We know We
are capable of great things, and We can make it better. ( Notice there
was no mention of establishing more government for the purpose.)
It is my believe that people will respond more to a positive attitude
than the negative attitude expressed by the social democrats.
People will respond to a person who says that in America you can go as
far as your capabilities will carry you, and believe the American dream
is not, as obama said a few weeks ago, to get a job that will support
your family with out the fear of loosing that job and putting you and
your family in poverty. It is human nature to want the best not
something that is adequate to keep you out of poverty.
Who would you vote for someone who said your success is dependent on
your abilities and you can go as far as you are willing to work for, or
one that say there is nothing you can do about present state, and the
reason you are suffering is the government has not done enough for you.
True that there was some editing, but the fact that many actually agreed to
the idea without hesitation is truly scary.
And your right, our glourious leader has made profit and success four letter
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