Obama leads US on Debt Death March into 3rd World Status. Debt eating Federal Budget

[MikeNY]

Article :US debt will keep growing even with recovery. By TOM RAUM Associated Press Writer. The Local Paper ran this article under the title "Economists: US debt growing at alarming rate" It should have entitled "Obama leads US on Death March into 3rd World Status".
http://hosted.ap.org/dynamic/stories/U/US_DEFICIT_CRUNCH?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2010-02-14-10-11-23

quote " Take Social Security, Medicare and other benefits. Add in interest payments on a national debt that now exceeds $12.3 trillion. It all will gobble up 80 percent of all federal revenues by 2020, government economists project.

That doesn't leave room for much else. What's left is the entire rest of the government, including military and homeland security spending, which has been protected and nurtured by the White House and Congress, regardless of the party in power.

The U.S. debt crisis also raises the question of how long the world's leading power can remain its largest borrower.

Moody's Investors Service recently warned that Washington's credit rating could be in jeopardy if the nation's finances didn't improve.

Despite election-year political pressure from voters for lawmakers to restrain spending, some recent votes suggests that Congress, left to its own devices, probably isn't up to the task of trimming deficits."

Obama leads the US on a Death March into 3rd World Status!

Stop the Maddness Impeach Obama!

[Giant Soldier]

During the last administration we fought two wars and had a steep cut in taxes for the richest Americans. That Medicare drug bill that the Republicans passed that doesn't even let the government negotiate for drug prices didn't help either. How would you like to do to a store and not be able to negotiate on price? What do you think that would do to your budget?

That's why we're in this mess. Revenue went down, down, down and it's been proven to everybody except idealogues that there is no such thing as "trickle-down economics."

Where the heck were all of the Tea Partiers when Bush was in office?

Read this article "How the Government Spends Your Money."

http://www.fool.com/investing/general/2010/02/17/how-the-government-spends-your-money.aspx?source=ihpsitth0000001

I like the point it makes about how nobody wants to make tough choices. If they do, then they're going to have people like you, Mike, writing and speaking on Fox about how they're leading the U.S. onto a death march.

Oh, he's going to make grandma eat cat food because he's going to cut her Social Security.

Oh, he's going to have our grandparents face death panels to try to trim health spending.

Oh, he's going to cut defense spending and let the terrorists come and kill us all.

Yadda-yadda.

[MikeNY]

GS valid points Bush was an idiot. This is not a recent problem. It is just Obama has magnified the problem and done everything possible to make it worse and into a crisis. By the way I have spoke out aobut bush being an idiot, in fact think Bush had a major hand in getting Obama into Office.

This problems has been brewing for decades, both under the Republicans and Democrats. Speaking out is not a crime yet, but Obama would like it to be.

Yadda Yadda back. Here is a picture of one of your fellow Obama supporters.



http://steynian.files.wordpress.com/2008/06/behead_who_insult_obama.jpg

[MikeNY]

GS I think before you are critical you need to examine the facts.

The current great recession is rooted in the CRA passed under Presdient Cater, modified by regulation in the last days of Presdient Clinton. The CRA forced Banks and Mortgages Co's to lend money to people that could not pay thier loans. ACORN and Obama worked in the trenchs and pushed the CRA, Obama was ACORNs Lawyer against Citibank forcing more CRA Mortgages and ACORN made Eight Billion Dollars just packaging these Loans. Obama the defacto head of ACORN also organized thie ACORN Voter Fraud Department to steal elections, as we saw in the last election. Obama and ACORN were using the Cloward-Piven Plan to make a crisis. Some Conspiracies are real and Obama headed the best.

CRA Loans were granted on the basis of race alone, with 110% of cost Financing, No ID needed, No proof of Income or Employment and reportedly no interest on some loans and many were adjustible rate and came with a teaser rate. Fannie Mae and Freddie Mac packaged these Mortgages that they sold to Wall Street and Obama's Advisor Franklin Raines stamped the loans as AAA highest rated securities. Wall Street was greedy and sold these securities, derivitives as they were backed by the full faith and credit of the USA. As CRA loans turned sour they were allowed over the years to refinance, trapping the poor. Fannie and Freddie were always ruled by the Democrats but did have 1/3 republican employees.

Then we have Bush not killing the CRA or Affirmative Action. He also Occupied two Nations and a huge cost in men and money. Bush appointed as Viceroy of Iraq; Democrat L. Paul Bremer, and he dismissed the Iraqi Military, Police and Government leaving a broken nation, and his policy was also used in Afghanistan.

The TEA folks hate the Democrats and the Republicans. Onama is the posterchild of "Washington Insider's" , Lobbyists, Special Interests and Wall Street. Wall Sreet paid for the Messiahs campaign. People are just sick of Washington Insider Politics and Obama's Chicago Corruption. Why hasn't Congress Investigated Obama causing the US and World Crash that started in US Mortgages that took down the Nation and the World, they already Obama and ACORN did it with Herb and Marion Sandler and Soros.



http://www.motifake.com/image/demotivational-poster/0904/fascism-politics-congress-obama-president-fascist-marxist-ta-demotivational-poster-1239517132.jpg

[April]

[QUOTE=MikeNY;37639]

Why hasn't Congress Investigated Obama causing the US and World Crash that started in US Mortgages that took down the Nation and the World, they already Obama and ACORN did it with Herb and Marion Sandler and Soros.



Why, indeed. Because they are all in on it.

[Free]

I see Giant Soldier has been drinking the Obama (Blame Bush) Koolaid. Bush was Obama Ultra-Lite, but the real party started when Obama magnified the problem by switching the spending into hyper drive.

It has been known, and proven, all the way back to JFK, that lowering taxes stimulates economic growth, and government revenue, and the reverse happens when raising them. The problem that most liberals ignore, is that lowering taxes can not offset massive increases in government spending. It is imperative that spending be, at least kept constant, as those taxes are lowered.

All this is a mute point though, since Obama has already totally screwed us. Tea Party or no, we are in for a world of hurt, due to the worst president ever. Prepare for extreme financial hardship ahead.