Joe Doakes of Como Park writes:
The President’s budget plans to spend 4 trillion next year. We expect to take in about 2 trillion, leaving us short 2 trillion dollars.
His spending estimates for the next 10 years are no lower, so call it $40 trillion total of which we’re short 20 trillion. That’s the Deficit.
His cuts and tax increases propose to reduce the deficit by 4 trillion over that same period. 4 of the 20 trillion.
Meaning he expects to rack up another 16 trillion dollars in debt over the next 10 years, and that’s if everything works perfectly.
The European Union is collapsing. China has new cities standing empty and provinces in revolt. The Mid-East is ready to erupt again.
So I axe ya – who’s going to lend the United States government $16,000,000,000,000.00?
And who’s going to pay it back?
Joe Doakes
Como Park
Why, we’ll tax the rich, silly!
Obama seems to believe that Facebook — essentially an advertising research firm — is the future of U.S. “industry”.
That and building electric cars for $45,000 and selling them for $35,000.
So I axe ya – who’s going to lend the United States government $16,000,000,000,000.00?
China
And who’s going to pay it back?
me and my generation… fucking baby boomers
Ben, there might be as much as 600 billion bbl of oil off the California coast and in the Gulf of Mexico. That’s $60 trillion at a hundred bucks a barrel. You think the Chinese don’t know that?
I know who DOESNT know or care about it, Obama. God we need ANWR and the Keystone pipeline so bad, I bet if that (God willing) Romney gets in and green lights those two projects oil drops 20-30% a barrel, due to speculation. Oil supplies are as high as ever, speculators are driving the cost up in anticipation of an eventual shortage.
From a Wall Street Journal editorial:
“Despite its tax increases, the White House still predicts that the annual budget deficit will be $901 billion in 2013 and never fall below $575 billion in any of the next 10 years. Democrats denounced George W. Bush for allowing so much red ink, but his deficits averaged only 3.5% of GDP if you don’t count 2001 but do include the 10.1% of 2009. Mr. Obama’s deficits have averaged 9.1% of GDP if you count 2009, as you should because his $800 billion stimulus passed that February.
The political reality of budgeting is that voters should only believe what they can see, which is what politicians are proposing now. Promises of future spending cuts are a mirage. Mr. Obama needs to point to the mirage because his fiscal record is the worst in modern American history.”
Unicorns, indeed!
The folks in charge view world capitalism as an evil, unjust system. What better way to destroy it that to create a worldwide collapse of the evil, unjust monetary system with debt that will never be paid back?
Good thing it’s halftime in America.
Defeating 0bama and 0bamney would be a great start toward doing what must be done.