$5 Trillion Debt in 3 years

f.sciarrillo · Post by **f.sciarrillo** » Fri Nov 05, 2010 8:11 pm

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lonewolf · Post by **lonewolf** » Fri Nov 05, 2010 8:15 pm

f.sciarrillo wrote:Congress is too blame for everything, yep, that is the way it will be for now on. I will make a pledge from this point on to not blame the President for everything. Seeing that all these years I never knew that it was congress who has the last say on anything. Yes, I know, I am stupid ..

Yep, crediting Obama (or any other President) with the legislative events (such as the budget) during his administration would be like giving John Hancock the credit for writing the Declaration of Independence.

Hawk · Post by **Hawk** » Fri Nov 05, 2010 8:16 pm

Does the President and congress work hand in hand ? Does congress help the President get what he wants ? Or does congress tell the President what they want ?

Did congress tell Bush to start a war ? Did congress tell Bush to cut taxes for the rich ? Did congress tell Bush to reward companies who outsourced jobs with tax cuts ?

I wouldn't blame everything on congress...

f.sciarrillo · Post by **f.sciarrillo** » Fri Nov 05, 2010 8:19 pm

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lonewolf · Post by **lonewolf** » Fri Nov 05, 2010 8:23 pm

Hawk wrote:Does the President and congress work hand in hand ? Does congress help the President get what he wants ? Or does congress tell the President what they want ?

Did congress tell Bush to start a war ? Did congress tell Bush to cut taxes for the rich ? Did congress tell Bush to reward companies who outsourced jobs with tax cuts ?

I wouldn't blame everything on congress...

I was just about to edit that to say, yes, the President does have some influence with Congress on a few items, but for the most part its the party that sets the legislative agenda, not the President. None of Clinton's requested budgets were passed after 1994.

Actually, yes, Congress DID tell Bush to start a war. Yes, Congress cut taxes for EVERYBODY, at Bush's (and the party's) suggestion. NO, Congress did not tell Bush to reward companies who outsourced jobs with tax cuts...they told Bush to reward ALL companies with tax cuts.

Hawk · Post by **Hawk** » Fri Nov 05, 2010 8:34 pm

Let me ask a simple question. I was going to start a thread with this, but I'd get nailed fot it. But an open topic...

Is capitalism good ?

Yes, absolutely...we all agree .

But capitalism is world wide with entire countries (who are communist) getting in on capitalism. Is that good ?

Here is one example of what is going on.

The Etch - a - Sketch

We have all had one, they are a mainstay of every generation.

They were mad in a little town in Ohio. Wall Mart went to the company and told them they have to close shop in Ohio. Move the company to China to get the price down. That is the only way Wall Mart will carry the etch - a - sketch. They are no longer being made in Ohio, they are made in China.

Should the company still get tax breaks ?

How many of the rich have money invested in companies like this (yet larger) that they are getting richer from ? Yes, with the tax cuts to the rich and them investing in foreign companies, we are not getting jobs from them.

Is global capitalism hurting the USA ?

China is setting up cheap labor that we cannot compete with. I watched a part of Glen Beck where he was explaining how so many products that used to be marketed in the USA are now sold world wide. With demand high, so are prices. (Somehow I think he blamed Obama for that, but I switched channels before he got that far).

So, will there be a leveling off in the US as we compete on the global scale ?

I know they pay less taxes in China than in the USA. Can someone break it down as to what saves them the most money, taxes or labor ?

f.sciarrillo · Post by **f.sciarrillo** » Fri Nov 05, 2010 8:39 pm

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Hawk · Post by **Hawk** » Fri Nov 05, 2010 8:40 pm

f.sciarrillo wrote:
Hawk wrote:
f.sciarrillo wrote: Aso, the main reason I never bitched about Bush is because I never really payed attention till later in his term. .
Frank that is a straight out lie. Unfortunately for you I have a political memory.

The very first time we discussed the deficit is when you claimed Obama put us at (something like) 12 TRILLION in debt. When I tried to tell you that Obama added to a deficit of 10TRILLION that was there when Bush left office, you spent days and post after post telling me how wrong I was because there was NO deficit when Bush left office.

Now Frank, do you want me to search for it and paste your, "Bush had no deficit rant " ?
You still have it bookmarked. And believe what you want, you will spin it to suite your agenda anyhow

Not booked marked my friend. I remember well. There is no spinning. You tried to tell me there was no deficit when Bush left office. That's just the truth. No spin at all.

Question Frank. You said you voted for Ron Paul. Then a while later you said you didn't vote for Ron Paul. Now you claim to be against the Bush deficit spending at the end of his term. Yet you previously posted Bush had no deficit at the end of his term.

Do you lie or do you forget ?

Hawk · Post by **Hawk** » Fri Nov 05, 2010 8:46 pm

f.sciarrillo wrote:Going by your analogy there, Bill, I would think that Wal*Mart should be investigated ..

For what ? That's how capatalism (which I'm for) works.

I'm just with Obama. Increase tax breaks to companies who hire Americans and take away tax breaks from companies who outsource .

f.sciarrillo · Post by **f.sciarrillo** » Fri Nov 05, 2010 8:49 pm

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Hawk · Post by **Hawk** » Fri Nov 05, 2010 8:53 pm

Sorry, I thought this said you were against it while he was still president.

f.sciarrillo wrote:

Aso, the main reason I never bitched about Bush is because I never really payed attention till later in his term. .

What you mean is you never knew until after his term.

f.sciarrillo · Post by **f.sciarrillo** » Fri Nov 05, 2010 8:55 pm

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Hawk · Post by **Hawk** » Fri Nov 05, 2010 8:58 pm

f.sciarrillo wrote:
Hawk wrote:Sorry, I thought this said you were against it while he was still president.

f.sciarrillo wrote:

Aso, the main reason I never bitched about Bush is because I never really payed attention till later in his term. .
I said I never paid attention to it till around the end of his term, not that I was against it. I was never against the defense spending.

How can you say you payed any attention to the Bush deficit later in his term, when you never knew he had a deficit until after his term?

f.sciarrillo · Post by **f.sciarrillo** » Fri Nov 05, 2010 9:01 pm

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lonewolf · Post by **lonewolf** » Fri Nov 05, 2010 11:15 pm

The past is gone....all that matters now is that the budget deficit has accelerated out of control over the past three years and there's no end in sight. Meanwhile, the 2nd warning shot on the way to Thunderdome World was fired Wednesday and none of you even mentioned it.

I mentioned this in passing yesterday and nobody commented, but it is the most significant economic/financial development since the Fall 2008 liquidity crisis.

Waiting for the day after the election spectacle, the Federal Reserve announced that it would do what it said last year it would not do. They have decided to monetize the debt by simply printing $600 billion to buy our own bonds over a period stretching to June. Thanks for the warning Ben.

If you read my posts from last year regarding the debt brick wall, I mentioned that there would come a time when nobody would buy our bonds unless we raised interest rates significantly. Why then do you think the Fed is going to actively buy US bonds? Do you think they want to score on those exceedingly high rates of zero to 4% (he wrote sarcastically)?

Not likely. They have finally recognized that US bonds are no longer attractive at these interest rates and must prop them up in an "all or nothing" gamble that the economy will make a huge upswing by June.

It is more likely, however, that they have just accelerated the brick wall's date and gave us a good insight into when to look for the next financial crisis. Meanwhile, this has significantly diluted our money supply and will lead to price hikes in all commodities, especially oil & gold. Supper is going to cost a lot more in 2011.

WHO RUN BARTERTOWN?

songsmith · Post by **songsmith** » Sat Nov 06, 2010 2:28 am

Don't worry, Jeff, the Tea Party's going to fix it. It's going to be better soon.

--->JMS

f.sciarrillo · Post by **f.sciarrillo** » Sat Nov 06, 2010 3:06 am

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songsmith · Post by **songsmith** » Sat Nov 06, 2010 3:12 am

f.sciarrillo wrote:
Well, that one thing that everyone knows is that there is NO ONE who can make it worse than the Liberals ...

I'll take that bet!--->JMS

Hawk · Post by **Hawk** » Sat Nov 06, 2010 12:19 pm

This cracked me up ! People ought to know that we who discuss (some might say argue) politics can get along.

Last evening undercoverjoe called me. He was asking about coming to the Hawks rehearsal. Jason Feathers was rehearsing with us.

So later at the practice house, someone commented / ask if we stopped our RP debates. Joe laughed

. He was writing a rebuttal to me on RP while we were talking on the phone. And I was writing on RP while we were on the phone.

Joe, Jason and I then went out to hear Slim Bizzy and the Wise Guys. They were on their game !

Love you like a bro Joe.

Banned · Post by **Banned** » Sat Nov 06, 2010 6:10 pm

Hawk wrote:This cracked me up ! People ought to know that we who discuss (some might say argue) politics can get along.

Last evening undercoverjoe called me. He was asking about coming to the Hawks rehearsal. Jason Feathers was rehearsing with us.

So later at the practice house, someone commented / ask if we stopped our RP debates. Joe laughed . He was writing a rebuttal to me on RP while we were talking on the phone. And I was writing on RP while we were on the phone.

Joe, Jason and I then went out to hear Slim Bizzy and the Wise Guys. They were on their game !

Love you like a bro Joe.

Love of great music like the blues is better for the soul than politics anyway.

Banned · Post by **Banned** » Sat Nov 06, 2010 6:12 pm

songsmith wrote:Don't worry, Jeff, the Tea Party's going to fix it. It's going to be better soon. --->JMS

Newly elected Rand Paul and his father, Ron Paul, are going to jointly introduce a long overdue bill---to end the Fed. If any other members of Congress actually care about this country, they should pass this bill, before the Fed does more damage.

songsmith · Post by **songsmith** » Sat Nov 06, 2010 7:51 pm

I still like what Ron says, and DON'T like what Rand says, at all. Too bad Ron's a Republican.--->JMS

Banned · Post by **Banned** » Sat Nov 06, 2010 9:45 pm

songsmith wrote:I still like what Ron says, and DON'T like what Rand says, at all. Too bad Ron's a Republican.--->JMS

Ron is a libertarian. He just stays in the Republican party so that he can get some media time. Both the right and left media did their best to marginalize him when his campaign was starting to gain ground. As soon as he dropped out of the presidential race, both Fox and Msnbc started having him on the air more.

The major media in this country does not want any major third party candidate to get elected. They do their best to keep it a 2 party monopoly.

"I believe we have a one party system in this country, called the big-government party. There is a Republican branch that likes war and deficits and assaulting civil liberties. There is a Democratic branch that likes welfare and taxes and assaulting commercial liberties." - Judge Andrew Napolitano

My little addendum to the good Judge is that this current democrat in the White House also seems to like war and deficits. (as far as civil liberties, he kept all the Bushian Big Brother laws in effect, hmmm)