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Debates Forum

Debates Forum

  1. 24 Dec '09 19:33 / 2 edits
    Ok gang, who here is concerned about the ballooning deficit that will soon reach $13 trillion? If you are concerned, what should be done? Well there are four major contributors which are social security, medicaid/medicare, defense, and the interst on the debt. Soon the interest on the debt will be the highest contributor to the yearly national debt coming close to $1 trillion per year. Can you imagine the health care we could provide people with $1 trillion per year if it were not going towards interest on the debt every year? Therefore, if we are to do something about the ballooning debt, something should be done about down sizing these expenditures. Of course, the left defends universal health care and social security as they attack the spending in defense. However, the right defends the spending in defense all the while attacking the spending in the other two entitlement programs. If you ask me, we need to reduce spending in all of these catagories. What say you, unless you could not be more pleased or unconcerned about the level of spending in the federal government nor the projected increased spending with the new health care bill that was just passed.

    Be honest now, aren't you a little scared?
  2. Standard member monster truck
    Walleye Guy
    24 Dec '09 21:08
    Reason is dead.
    Freedom is for fools.
    Life itself is nothing more than sheer terror.
  3. 24 Dec '09 21:27
    Originally posted by monster truck
    Reason is dead.
    Freedom is for fools.
    Life itself is nothing more than sheer terror.
    Stop reading quotes from the DNC and tell us what you really think.
  4. 24 Dec '09 21:35
    Originally posted by whodey
    Ok gang, who here is concerned about the ballooning deficit that will soon reach $13 trillion? If you are concerned, what should be done? Well there are four major contributors which are social security, medicaid/medicare, defense, and the interst on the debt. Soon the interest on the debt will be the highest contributor to the yearly national debt coming ...[text shortened]... th the new health care bill that was just passed.

    Be honest now, aren't you a little scared?
    You bet. Joe Lieberman is gonna give me nightmares.
  5. Standard member monster truck
    Walleye Guy
    24 Dec '09 21:47
    Originally posted by whodey
    Stop reading quotes from the DNC and tell us what you really think.
    I am not allowed to think.
    I am fat, lazy, and useless.
    Please send food, shelter, and shackles.

    Oooops, completely forgot I was not supposed to use the word 'I'.

    Only The Collective matters.
  6. 25 Dec '09 17:01
    Originally posted by whodey
    Ok gang, who here is concerned about the ballooning deficit that will soon reach $13 trillion? If you are concerned, what should be done? Well there are four major contributors which are social security, medicaid/medicare, defense, and the interst on the debt. Soon the interest on the debt will be the highest contributor to the yearly national debt coming ...[text shortened]... th the new health care bill that was just passed.

    Be honest now, aren't you a little scared?
    are you on coke again?
  7. Standard member DrKF
    incipit parodia
    25 Dec '09 17:18
    Originally posted by monster truck
    I am not allowed to think.
    Don't confuse permission with ability.
  8. 25 Dec '09 21:07 / 3 edits
    Originally posted by generalissimo
    are you on coke again?
    Here we go again. Its the Generals drama focused at me when you should be asking if your law makers are the ones on coke. Here is what Ben Bernanke has to say regarding the current deficit situation.

    http://www.federalreserve.gov/newsevents/testimony/Bernanke20070118a.htm

    "A particularly worriesome aspect of this projection and similar ones is the implied evolution of the national debt and the associated interest payments to government bond holders. Minor details aside, the federal debt held by the public increases each year by the amount of that year's unified deficit. Consequently, scenarios that project large deficits also project rapid growth in the outstanding governmnet debt. The higher levels of debt in turn imply increased expenditures on interest payments which in turn adds to subsequent deficits. According to the CBO projection that I have been discussing, interest payments on the governments debt will reach 4.5% of GDP in 2030, nearly three times their current size relative to national output. Under this scenerio, the ratio of federal debt held by the public to GDP would climb from 37% currently to roughly 100% in 2030 and would continue to grow exponentially after that. The only time in US history that the debt to GDP ratio has been in the neighborhood of 100% was during WW2. People at that time understood the situation to be temporary and expected deficits and the debt to GDP ratio to fall rapidly after the war, as in fact, they did. In contrast, under the scenerio I have been discussing, the debt to GDP ratio would rise far into the future at an accelerating rates. Ultimately, the expansion of debt would spark a fiscal crisis, which could be addressed only by very sharp spending cuts or tax increases, or both..........To summarize, because of demographic changes and rising medical costs, federal expenditures for entitlement programs are projected to rise sharply over the next few decades. Dealing with the resulting fiscal strains will pose difficult choices for the US. However, if early and meaningful actions is not taken, the US economy could be seriously weakened with future generations bearing much of the cost. The decisions the congress will face will not be easy or simple, but the benefits of placing the budget on a path that is both sustainable and meets the nation's long run needs would be substantial."

    So 2030, eh? It is only 20 years away. What say you, are you as concenred as Bernanke? Will President unsustainable change his ways? His only response to this point has been to increase medical entitlements.

    A few people tried to blow the whistle on the whole credit crisis and they were ignored. I wonder if these warnings will likewise be ignored. The problem is, as with the coming credit crisis, there are too many people making money to even bother with reform. All you have left are outsiders who are not benefiting from the dysfunctional government way of doing business screaming their heads off in vain. Perhaps they too will be referred to as coke heads.
  9. 26 Dec '09 13:21
    Originally posted by whodey
    Ok gang, who here is concerned about the ballooning deficit that will soon reach $13 trillion? If you are concerned, what should be done? Well there are four major contributors which are social security, medicaid/medicare, defense, and the interst on the debt. Soon the interest on the debt will be the highest contributor to the yearly national debt coming ...[text shortened]... th the new health care bill that was just passed.

    Be honest now, aren't you a little scared?
    I'm more scared of global warming than anything else.

    http://zfacts.com/p/318.html

    Paying off the national debt can be accomplished through progressive taxation -- increasing taxes on the rich and corporations. That's how the national debt from WW2 was being successfully paid off prior to 1980.

    Certainly it was reckless for the last three Republican presidents to plunge the country into debt, and for the Republicans to cause an economic crisis that necessitates deficit spending to fix it. However, the national debt is still manageable and shouldn't be used as an excuse to withhold from stimulus spending that's essential to fixing the present economic crisis.
  10. Standard member monster truck
    Walleye Guy
    26 Dec '09 16:04 / 1 edit
    Originally posted by DrKF
    Don't confuse permission with ability.
    I find my mere existence terrifying.
    Someone please clothe and feed me.
    Preferrably one of you really smart people.
  11. 26 Dec '09 17:41
    Originally posted by whodey
    Here we go again. Its the Generals drama focused at me when you should be asking if your law makers are the ones on coke. Here is what Ben Bernanke has to say regarding the current deficit situation.

    http://www.federalreserve.gov/newsevents/testimony/Bernanke20070118a.htm

    "A particularly worriesome aspect of this projection and similar ones is the imp ...[text shortened]... ness screaming their heads off in vain. Perhaps they too will be referred to as coke heads.
    Don't you get it? its all scare tactics, Im sure the President knows what he's doing, he doesn't strike me as being retarded.
  12. 27 Dec '09 06:11 / 2 edits
    Originally posted by generalissimo
    Don't you get it? its all scare tactics, Im sure the President knows what he's doing, he doesn't strike me as being retarded.
    So you are saying that Federal Reserve Chairman Ben Barnanke is using scare tactics to scare the country? In addition, are you saying that President Obama, who appointed him for a second term in 2009, is "smarter" than a tenured enocomics professor at Princeton University? So if Obama is so smart, why did he appoint him in 2009? In addition, if he is using scare tactics, why does he still have a job?

    On second thought, President Obama is a pretty smart guy. I mean, he served as a community organizer for years and then was briefly elected to the Senate where he voted not present the majorty of the time.
  13. 27 Dec '09 06:19
    Originally posted by karnachz
    I'm more scared of global warming than anything else.

    http://zfacts.com/p/318.html

    Paying off the national debt can be accomplished through progressive taxation -- increasing taxes on the rich and corporations. That's how the national debt from WW2 was being successfully paid off prior to 1980.

    Certainly it was reckless for the last three Republ ...[text shortened]... e to withhold from stimulus spending that's essential to fixing the present economic crisis.
    Oh, so its the last 3 American REPUBLICAN presidents who are to blame for the deficit, eh? Unfortunatly, no president before Obama has spent us this far into debt. Outside of TARP, which "W" inititiated to save the banking system, the stimulus packages are pork ridden jokes. Of course, the country should have never been allowed to reach this crisis in the first place, and this was hardly the fault of the last 3 American presidents who were Repbulcan. If not, what specific contributions to the credit crisis are you referring to?
  14. 27 Dec '09 17:33
    Originally posted by whodey
    So you are saying that Federal Reserve Chairman Ben Barnanke is using scare tactics to scare the country? In addition, are you saying that President Obama, who appointed him for a second term in 2009, is "smarter" than a tenured enocomics professor at Princeton University? So if Obama is so smart, why did he appoint him in 2009? In addition, if he is using ...[text shortened]... then was briefly elected to the Senate where he voted not present the majorty of the time.
    I was only kidding, its obvious this is a disaster waiting to happen.

    But I don't think Obama would lead the country into financial chaos, he must have a plan b, or at least he must know what's coming to him if he continues with irresponsible policies. No president wants to be a one-term president.
  15. 28 Dec '09 03:21 / 3 edits
    Originally posted by generalissimo
    I was only kidding, its obvious this is a disaster waiting to happen.

    But I don't think Obama would lead the country into financial chaos, he must have a plan b, or at least he must know what's coming to him if he continues with irresponsible policies. No president wants to be a one-term president.
    Obama is being driven by the progressive movement, which has wanted such things as universal health care since the days of FDR as well as such policies as cap and trade. The catalyst for this change was the credit crisis, as well as the unpopularity of "W" and the rest of the spend thrift Republicans. So what you have seen to date, is mere oppurtunism, not a response to the "crisis". For his reelection chances, I think he is hoping stinulus packages will prop up the economy long enough to get him reelcted. The goal I think is a transition from capitalism to some form of socialism. Perhaps they are purposefully spending the way they are to force the issue so that whoever follows Obama must raise taxes. Perhaps it is an effort to provoke another crisis as another catalyst for change into a socialist economy. I just hope people remember what led up to this seemingly impending crisis. It is nothing more than the progressive movement. Why on earth would we then turn to them again to fix another crisis?