How many more years of Democrat spending can we go through before they completely bankrupt our country?
http://www.nytimes.com/2010/02/25/business/25obama.html
From the New York Times:
In 2010, federal government spending will be equivalent to 25 percent of overall United States economic output, the highest proportion recorded in American history except for three years during World War II. Likewise, the .8 trillion national debt expected by the end of this year will be the largest compared with the size of the economy since 1948
Great analogy Isaac
Posted March 4th, 2010 in How To Go Bankrupt. Tagged: american history, analogy, economic output, economy, federal government spending, national debt, new york times, proportion, trillion, united states, world war ii.
LMAO, the largest increase of the national debt was by three republican presidents. Reagan,Bush sr,Bush jr.
March 4th, 2010 at 4:36 pmSo the question should be how do we get out of the mess cons put us in?
at this rate very very shortly
March 4th, 2010 at 4:36 pmIf we can survive 8 years of Bush we can make it through anything
March 4th, 2010 at 4:36 pmIf there isn’t a change in november, we’re in real trouble.
March 4th, 2010 at 4:36 pmBecause Reagan, Bush I, Clinton and Bush II didn’t already bankrupt the country? Hmm…wonder where you’ve been living?!?!
March 4th, 2010 at 4:36 pmaccording to (R) John Boehner, social security, medicare and medicaid have already bankrupted the country.
"We have Medicare that’s going broke. We have Social Security that’s going broke. We have Medicaid that is bankrupting not only the federal government, but all the states."
Health Care Summit yesterday
but he wants to go slowly, in a "step-by-step" manner with incremental changes.
March 4th, 2010 at 4:36 pmDemocrats balance the budget. As long as we never let republicans get in charge again we will be just fine.
March 4th, 2010 at 4:36 pmfrankly, we are bankrupt now
we have borrowed from our most likely enemy
and printed valueless money
to try to camouflage the situation
but the people of the usa are screwed
and the government is the cause
March 4th, 2010 at 4:36 pmLots! My professor told me so while I was knobbing him in the broom closet!
March 4th, 2010 at 4:36 pmSeems to me we had a SURPLUS after Clinton. Who spent all that? GOP?
March 4th, 2010 at 4:36 pmI think it’s funny that you think we don’t spend under Republicans…you think tax cuts are free?
March 4th, 2010 at 4:36 pmI read an article that says the government is on track to spend the entire wealth of all people rich or poor within 10 years.
March 4th, 2010 at 4:36 pmA dog turd could figure this out. Great post by the way!!!
March 4th, 2010 at 4:36 pmBut what’s worse, the dem party who we all know does this every chance they get, or the voters who elected them?
We’re way past bankrupt, if we pass some good shit like the public option, we may be better off. And if we regulate job outsourcing, we could stop owing China so god damn much
March 4th, 2010 at 4:36 pmNone.
America is already bankrupt all it takes is for the countries holding the debt to call it in or say no more until you pay.
March 4th, 2010 at 4:36 pmIn my opinion its already too late,the monies have been spent and the country is fading.In my lifetime it will never again be like it was.
March 4th, 2010 at 4:36 pmAnd I guess you approve of all the money that was spent to pay for the village idiots "legacy" was money well spent?
How about the money that will have to be spent out over the next fifty years by the government to support and care for all those troops that will spend the rest of their lives disabled for the "legacy" he felt he needed?
March 4th, 2010 at 4:36 pmThis is whats happening, the united states are going to go bankrupt no matter what. Right now though all the nations on the market our depending on us for everything. So they are going to try to keep us a float as long as possible. But soon that won’t be enough. Greece is about to go bankrupt and when they do there is going to be a lot of trouble. A lot of money is going to go down the tubes.
Picture this: A huge bath tub that has a hole in the middle, to fill the bath tub you have to have more water coming in then water going out. When Greece goes bankrupt less water is coming into the bath tub, soon other nations are going to go down the tubes which = less water. And get this right now we are getting into more debt. So the whole is getting bigger the water is becoming less. Inevitably we will go bankrupt.
if you don’t believe me look at Dubai.
March 4th, 2010 at 4:36 pmDuh, that’s what they’re trying to do… bankrupt the county so we’ll have no choice to turn to the federal government. Hell, Obama might be in office indefinitely. This is the final power grab and he’s going all out. Chains you can believe in. Soon we’ll be like Europe and have muslims dancing in the streets, burning flags… we might even get sharia law. I’ll finally be able to beat my wife and kill my children! AWESOME!
March 4th, 2010 at 4:36 pmNot long
The chinese are getting close to cutting Obama off.
March 4th, 2010 at 4:36 pmI think the real question should be :how many more years of government spending can we go through period! Republicans have been just as bad. We aren’t where we are just because of Bush or Obama. We’ve been headed in this direction for quite some time.
March 4th, 2010 at 4:36 pmWe’re already there. The ruling class hasn’t learned from the past. They are not smart enough to work together as a team. I think that they have a contest to see which party can spend the most money in one day. It’s not just one party or the other.
BTW: As long as there is partisanship in this country, such as you exhibit here, things will not change. We need a working team, not bickering, back stabbing, mudslinging to get re-elected and collecting from and doing "favors" for special interest groups. That is all that our elected officials do on our dime, or should I say our dollar. Wake up, America! Demand that our elected officials spend every hour of their time in office working for us and not wasting our money! Elect only those who refuse to associate with lobbyists, refuse to get into mudslinging matches, those who believe in work ethics and those directly interact with American voters.
March 4th, 2010 at 4:36 pmIf the present health care bill passes there will be little chance of the country going bankrupt for four years because there will be no spending going out but only extra taxes coming in immediately. After four years the benefits of the health care plan goes into effect and that’s when the money starts to go out at faster rate then its coming in. That will be the starting point. By then end on the 6th year of spending the country will be broke. During the last six years your quality of medical service will go down rapidly because there will be such an influx of patient load for individual physicians. The health care plan does not cover for any increase in the number of physicians in the US. States with large numbers of Medicaid patients will be bankrupt sooner than the country as a whole. because the federal government does not fully fund Medicaid. The states are already strapped for funds. Your federal taxes will not go up nearly as much as your state taxes. States without an income tax will have to start collecting a state income tax.
Regardless what happens peoples standard of living will have to go down because of the tax burden. The number of ‘toys’ people now have will drop in order to provide a house, utilities and food for you and your family. Look at the 1930s depression, the government didn’t go bankrupt, just the business world and look at the plight of the ordinary people then. I feel for those of you that will have to live through it. I’m old and I won’t have to.
March 4th, 2010 at 4:36 pm