Where does the American Government get all it's money? How do they manage not to go bankrupt?
It seems like everyday their President Obama is proposing some new trillion dollar plan. How do they manage to afford it all?
Posts Tagged ‘obama’
What will happen to your property and income taxes if your neighbors can't pay theirs?
As more and more people fall into homelessness and leave their homes that should never have been built or bought by them, because subprime lending encourgaged all this building and buying, who will pay their taxes as they go bankrupt?
The only people running for President that get this that I can see is Obama and Edwards. Remember that on your election day. There is gonna need to be some change in how we run our democracy or it is going away, folks! Be careful what you wish for, who you vote for!
How much allegiance do you pledge to American flag?
Choice A). Very little because Obama and the country is going bankrupt so I can’t stand where America is right now.
Choice B). Very little because George W. Bush ruined this country with 2 baseless wars and ruined a perfectly good economy under Clinton leading us to this mess.
Choice C). Very little, can we really say this is a democratic and free country when both political parties are controlled by elites and besides that, we have a dark past of racism, segregation, horrible treatment of the American Indians, we also have no pride, selling all our projects to China or 10 cents an hour.
Choice D). I pledge allegiance to the flag of the United States of America; and to the Republic for which it stands one nation, (under God), indivisible, with liberty and justice for all.
Unconditionally, I choose answer D)!
And we need to unite on whatever ground combines us, and it’s putting the finger pointing, even rightly if not wrongly, aside, because what other nation will defend and enrich the USA more than the people of America? This is our country.
How did the government spending too much, become a revenue problem?
Taxes will only accomplish so much. Tax the rich 100%, and I guarantee the politicians will just fritter it away on cowboy poetry, bombing the third world, or some such nonsense. The money that GM allegedly paid back, did it go into the debt, or the pork barrel?
It seems quite elementary to me, cut spending. Between Bush and Obama the federal government has expanded geometrically. I would post a link, but then the question will never enter the queue.
Maybe it is time we ended some pointless overseas incursions. We are not there to win anyway.
And maybe Grandma can move into the spare bedroom. Because Social Security is bankrupt.
And how about we quit electing politicians by the amount of pork barrel spending they bring home?
Don’t give me that "Bush did it" hogwash.His first day in the Oval Orifice, the nation was already trillion in debt. That 6 billion budget "surplus" was an illusion.
Why did USA Conservatives bankrupt Fannie Mae and Freddie Mac?
Corporate Conservatives cause alll these citizens to lose Billions.
Barney Frank passed regulations to keep Fannie and Freddie in check, but it was too late. Barney Frank would have saved Fannie and Freddie if he were head of the Finance Committee before 2007.
The lesson to be learned: To save the economy, we need more Government regulations in businesses to protect corporations from losing their money like Fannie and Freddie lost.
Obama’s policies are the reason America is not going through a Depression. If Obama didn’t pass regulations, imagine how many other corporations would have gone bankrupt.
Fannie Mae and Freddie Mac is the perfect example of how evil capitalism can be.
That is why Barnie Frank wanted regulations and independent oversight to keep these organizations from making risky illogical sub-prime mortgage lendings to people not in a position to repay those loans.
Fannie Mae and Freddie Mac had they followed the rules, they would have not given bonuses to their top executives in the years leading up to bankruptcy
At the time of these video hearings it was Late 2004 and the issue was not about regulating Fannie and Freddie, it was about how the Republicans were going about doing it with the goal of corrupting it so they got money out of it
These Democrats wouldn’t be this angry, something is twisted in these videos, you think they would lobby vigorously to protect a corporation???
I still hold the Conservatives more responsible because Wall Street was the driving force behind the magnitude of the loans.
OF COURSE ANY POOR PERSON would want an opportunity VS. NO opportunity to own a home. Clinton and the Democrats wanted a program to help poor people obtain loans with poorer credit scores, but with regulation over Fannie Mae and Freddie Mac. This means they would be some other channel (perhaps a petition process) poor people denied loans could go through to make the case they can be trusted with a mortgage. However, it is not the homeowner’s responsiblity to assess the risk of Fannie Mae, that’s in Wall Street’s hands.
What Clinton wanted to lax up was the impact of clear cut credit score and income as a basis for judging who can and can’t get a loan. This doesn’t necessarily mean a poor person who is at risk of not paying back can’t get one. You’d just have to open the door to other means of risk measurement besides sheer income.
HOW GULLIBLE DO YOU HAVE TO BE TO BELIEVE TAXES ARE NOT GOING UP?
The reasons why are obvious.
1) Democrats are in charge-they love to lie (with a warm smile) and tax and spend
2) We will spend 1.5 trillion dollars more this year than we take in.
3) Democrats will never agree to cut spending-they would rather bankrupt the USA-see California and Illinois
4) The financial crisis has caused a huge drop in tax revenue
5) Unemployment may continue to rise for the next 3 years-more people needing insurance and fewer workers to provide the coverage
6) An aging population-more people on social security and fewer workers to pay
7) Obama/Pelosi want Universal healthcare
Cap and trade
You see my point yet. And you can now see what Obama meant by change!
http://www.cnbc.com/id/31775633
9) I forgot to mention, we will be needing a new stimulus package-900 billion was not enough!
tehabwa Your a walking testimony showing why weed shoud remain illigal!
How can the economy be doing so well when spending out of congtrol?
•I thought Bush’s stimulus rebate checks, deficits & Wall Street bailouts were going to bankrupt our country; depreciate the dollar; and cause the stock market to tank. It never happened. Now Barack Hussein Obama is doing everything Bush did by a factor of 10. I mean, $billions for the car companies; billions for people to buy cars; stimulus spending; trill annual deficit; it’s unreal. Yet the 10-year T-bill is under 4% and the US dollar is holding up. Even unemployment, which is approaching 10%, isn’t as bad as it may seem with unemployment benefits lasting 79 weeks; and tremendous growth in fed’l gov’t hiring.
• In summary, can someone tell me how if the U.S. Gov’t can run up such deficits perpetually? Or are we in the middle of another huge bubble; this one centered around gov’t debt?
Why would anything bad happen when the Chinese stop buying our T-bills? Maybe they’ll buy shares of Exxon & Walmart instead? So what? Why can’t the Fed Resv Bank just keep buying billion of $$’s of bonds & Treasuries? In this manner, interest rates stay very low. And paying interest to the Federal Reserve Bank is like paying ourselves the money. Seriously, as long as the Federal Reserve Bank can own trillions of $$’s of debt, which they can do; then I don’t necessarily see high inflation or massive unemployment.
Have liberals acheived the most party-wide flip flops?
We have been making fun of social security now for at least 20 years, yet when Bush tried to fix it, all of a sudden there was nothing wrong with it, and now we’re making fun of it going bankrupt again.
Democrats under Clinton all supported the president when it came to WMD’s in Iraq and regime change (I guess except Obama), but now that Bush has taken that bull by the horns, the entire party thinks the invasion was wrong and even criminal.
When we invaded Iraq, democrats pounded the war drum against Iran, instead–remember that? Iran was the real threat, not Iraq. Now that Bush is focusing on Iran, democrats are against the whole idea!
How can you intellectually support a party that can’t make up it’s mind and commit on important policies? Can we count on them to lead when in office, or will they continue the circus act?
Steve, beg your pardon. President Clinton wrote a White House policy that he called "Regime Change in Iraq" dated 1998. Democrats of all flavors criticized Bush Sr. for not finishing the job.
dkstring: does your memory stretch back to the 2004 election? Hmm..maybe not…
Anyway, challenging Iran was one of John Kerry’s main arguments, it was linked to his "nuclear proliferation" strategy. Of course that was back when liberals though Iran had WMD’s.
Obama ,Bush is equal to a bankrupt third world America.Between them we will owe $ 13trillion how do you feel?
By the end of Obama’s 4year term(hopefully the last term) we will be owing $ 19 Trillion dollars to China, Saudi Arabia etc…
Republicans and Democrats gotta go agree
How long until the USA is bankrupt?
Our debt has gone up to 12 trillion in Obamas first month with no end to spending in site.
I say at 15 trillion, there is no way to ever pay it back and the dollar collapses.
You can’t tax people enough to ever pay it back at that point.
JFK, cut taxes, Reagan cut taxes, GW cut taxes, to recover from recessions, the first and second being the largest cuts.
Obama and company raise taxes and spends.
So my question how long until it happens, not if but when.
How does "spend or go bankrupt" work?
Do privet individuals on the verge of bankruptcy need to spend more money? Was GM’s problem not enough spending?
Nirv – actually I dont know what you mean. LOL
Nirv – Yes I understand Capitalize as used by business. What I dont get is how the government thinks they can use the same priciple with tax money. To much spending by the government (both Bush and Obama) is what got us where we are today. How about cutting back on waisted spending and entitalment programs. When on the verge of bankruptcy you cut your overhead, you don’t increase it.
What political party do you belong to?
The most important thing that OBAMA and his administration has done negatively…. is passing the so-called ECONOMIC RECOVERY PACKAGE, also known as the STIMULUS BILL 787 Billion dollars of taxpayer money filled with all sorts of earmarked “pet projects” to reserve misapproriated huge amounts of money over a period of time for careless spending that doesn’t help the country or the American people. What does it sound like? A scam, you’re right. A method of telling you one thing and doing another, the old switch-a-roo. Filling the cookie jar with hard cold cash and being able to take from it at any time for by politicians unaccountably. We are talking almost a Trillion dollars passed overnight without any argument or question. HOW ABOUT tax breaks, tax cuts, business incentives, to natuarlly boost the economy to have more money in circulation in the people’s pockets???
NEWS FLASH…. the stimulus didn’t work, I could of told you that a long time ago!!!! BECAUSE this is just a small list of where the money is going …..
billion earmark to re-start FutureGen, a near-zero emissions coal power plant in Illinois that the Department of Energy defunded last year because it said the project was inefficient.
• A 6 million tax break for Hollywood movie producers to buy motion picture film.
• 0 million for the digital television converter box coupon program.
• million for the Coast Guard to design a new polar icebreaking ship.
• 8 million for constructing the Department of Homeland Security headquarters.
• 8 million for furniture at the new Homeland Security headquarters.
• 0 million to buy hybrid vehicles for federal employees.
• 0 million for the Centers for Disease Control to screen and prevent STD’s.
• .4 billion for rural waste disposal programs.
• 5 million for the Washington sewer system.
• 0 million for Smithsonian museum facilities.
• billion for the 2010 Census, which already has a projected cost overrun of billion.
• million for “smoking cessation activities.”
• 0 million for public computer centers at community colleges.
• million for salaries of employees at the FBI.
• million for tribal alcohol and substance abuse reduction.
• 0 million for flood reduction projects on the Mississippi River.
• million to inspect canals in urban areas.
• billion to turn federal buildings into “green” buildings.
• 0 million for state and local fire stations.
• 0 million for wildland fire management on forest service lands.
• .2 billion for “youth activities,” including youth summer job programs.
• million for renovating the headquarters of the Public Health Service.
• 2 million for CDC buildings and property.
• 0 million for building and repairing National Institutes of Health facilities in Bethesda, Maryland.
• 0 million for “paid volunteers” at the Corporation for National and Community Service.
• .5 million for “energy efficiency initiatives” at the Department of Veterans Affairs National Cemetery Administration.
• 0 million for Amtrak.
• 0 million for reducing the hazard of lead-based paint.
• million to construct a “security training” facility for State Department Security officers when they can be trained at existing facilities of other agencies.
• 0 million to the Farm Service Agency to upgrade computer systems.
• 0 million in funding for the lease of alternative energy vehicles for use on military installations.
This one issue alone should of been enough for the people to recognize exactly what he’s trying to do to all of us intentionally…. BANKRUPT THE U.S.A and keep the people down and out waiting for infaltion to hit while the democrats and republicans keep arguing and complaining (divided and conquered) while they the scumbag politicans laugh all the way to the bank with our money!!! It is the TRUTH…. www.readthestimulus.org
IT SEEMS TO BE ALL TOO LATE, WE’VE BEEN HAD and people still support him, WHY? WHY? WHY? Ask yourself, what is he doing, what is his plan, what is the underlying hidden agenda to his actions and behavior? It’s obvious, it stinks, and something is seriously wrong!!!
How do we REALLY know where all of this money is going and if it is being spent on what they say they are going to spend it on? C’mon I’d like to see their billing statements and records of the STIMULUS BILL, the IRS looks at all of my earnings through my taxes, every penny!
since obama is going to do his best to bankrupt?
our coal suppliers and users, for which we depend on half of our overall electricity, how many jobs will be lost there? wonder if the coal producers such as va., west va. penn and ohio are on board with that?obama also said he is pushing for higher energy cost. how can obama be that stupid as to keep saying these things.
Republicans, check this graph out?
What do you think?
http://en.wikipedia.org/wiki/File:Change_in_US_household_wealth_1946-2007.gif
So, many say Bush was a great man who made strides in the economy. This graph, source from a government website, shows a different story.
First 3 years of Bush’s presidency, we see a negative. Now this is just one graph.
Check these stats.
http://www.federalreserve.gov/RELEASES/z1/Current/annuals/a1995-2004.pdf
In that, you can see increase from 2000 – 2004 in mortgage and government spending. You can also see that people were increasingly buying imports from 1995 all the way through.
Here you can see net borrowing in credit markets, high in 05 – 07
http://www.federalreserve.gov/RELEASES/z1/Current/annuals/a2005-2009.pdf
Also, you can see that businesses started borrowing massive amounts of money during 2008 and above. Remember, those were the periods when they were going bankrupt.
And you can also see how corporates were losing value on their assets. Then it magically jumps massive high in 2008. What I think happened here is that in 2007, the mortgage bubble was at its peak. Companies were getting tons of cash from all the borrowing. Then when it burst, suddenly, the company’s assets became liabilities since they bought so many.
So this illustrates why both presidents suck hardcore. It’s like they planned it all out. One guy sets the trap (mortgage/loan) the other guy springs the trap (obligation/liability to the fed).
Obama’s graph I’d say consists of lots of liabilities. Bush’s consists of lots of borrowing.
Borrowing by the public
Tracy
If you want the truth, and not to mess around with your hard earned money, your life. You look at facts because sooner or later, you’ll be sorry you didn’t.
neverfarm
That isn’t wealth. That is debt. That is money used by the people from their borrowing/loans. That isn’t wealth.
jimsock
so sad you don’t see you are being played. The dems did support those mortgage companies.. But the republicans let it go on as you can see on the graph. Both are dubious.
What happens if Liberals finally get their Socialist Utopia – then what?
1: in order to get to "utopia" we will need thousands of more entitlement programs,handouts,etc.
2: We’re bankrupt already – and can not afford the current entitlement programs
3: Our debt is already at unprecedented levels.
So, how are we going to pay for current entitlement programs, future entitlement programs, and Trillions of dollars of debt all the while jobs continue to disappear overseas?
Obama can’t keep spending his way to wealth forever – eventually we will have to "Pay the Piper".
Sticking to the highest priority issues in America?
Which candidate for President do you think is most concerned about the highest priority issues in America? I have heard that McCain has expressed the urgency to find new oil resources and decrease our dependency on foreign oil and that will help get us out of Iraq and increase funds to develop alternative fuel sources. I haven’t heard much about Obama’s plans, only what he has to say negative about his opponents. http://mhutch.blogspot.com/2008/05/more-alaska-oil-drilling-needed-to.html http://www.issues2000.org/2008/John_McCain_Energy_+_Oil.htm I mean oil independence will take some time, but considering the present crisis – isn’t some drilling in Alaska and other areas of the US – important to try? I heard the oil prices are going to hit 200/barrel in 2 years which equates to more than .00 per gallon for businesses and consumers in the US. Prices will increase, demand will decrease, average people will lose jobs and not be able to afford food and housing – bankruptcy!
Would it be a good idea if the State of Ca (my home state) default on its bonds in order to save the State?
Ok, first off I don’t know if this is a Conservative or a Liberal idea, but I did vote for McCain and Palin and think that they would make a better team to lead the country then Obama and Biden. Many in my family and I have to include my inlaws and YES!! even my own husband (he’s still the love of my life) think that sometimes my cognitive processes (thinking to those of you who haven’t mastered "BIG" words lol is on the eccentric side. For example, I thought (and still believe this idea) that when California was having the wildfires it should have let them burn out on their own and simply rescue any people in the way of the fires. People then should have been relocated out of California to live in such safer environments as Kansas (where there are few fires) etc. Anyway this is Rebecca thinking out of the box again. The government should simply print up a lot of money and use it to pay off all the bonds. After this, California would have plenty of money left to balance its budget and pay for schools, roads, and maybe even cut taxes. If the Federal Government refuses to print extra money to pay off the bonds (after all the money is only paper lol lol) then an alternative would be to simply default on the bonds issued by California and declare bankruptcy. So what do all of you think? Oh, in the interest of full disclosure, my mind is searching for something to keep busy since I said goodbye to my favorite man on Wednesday and he’s on his way back to Iraq after spending a wonderful two and half weeks at home on Leave. I think he left me with a little bundle of joy that just started growing inside of me and will eventually be an addition to our growing family.
What does subprime mean?
Close Bankruptcy Loophole for Mortgage Companies: Obama and Biden will work to eliminate the provision that prevents bankruptcy courts from modifying an individual’s mortgage payments. They believe that the SUBPRIME mortgage industry, which has engaged in dangerous and sometimes unscrupulous business practices, should not be shielded by outdated federal law.
i capitalized it so u guys could find it. imdoing research for a debate in english class and i was reading and my word document says that "subprime" is wrong and so does yahoo answers. so i wondered what an alternative word wold be so that i know what its talking about and i will understand better.
thanks in advance.
*an please, no opinions on the election. i just want to know the meaning of the word. =]
OHH. so its like less than prime? like secondary?
thanks!
How much campaign debt is Hillary Clinton left to settle by herself and her supporters?
It is apparent that she’s not getting any help from obama despite their dramatic presentation of helping one another including settling her debt. I’m impressed how the rookie Senator with no experience can get away with this against a Clinton.