CBO Issues Ominous Report on Debt: Could be on Verge of ‘Sudden Fiscal Crisis’
- Posted on June 22, 2011 at 1:11pm by
Jonathon M. Seidl
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WASHINGTON (AP) — A new report says that the national debt is on pace to equal the annual size of the economy within a decade, levels that could provoke a European-style debt crisis unless policymakers in Washington can slam the brakes on spiraling deficits.
The Congressional Budget Office study released Wednesday offers a fresh reminder of what’s at stake in ongoing talks led by Vice President Joe Biden that are aimed at slashing more than $2 trillion from the federal deficit over the coming decade as the price for permitting the government to take on more debt to pay current obligations.
CBO says the nation’s rapidly growing debt burden increases the probability of a fiscal crisis in which investors lose faith in U.S. bonds and force policymakers to make drastic spending cuts or tax hikes.
“As Congress debates the president’s request for an increase in the statutory debt ceiling, the CBO warns of a more ominous credit cliff – a sudden drop-off in our ability to borrow imposed by credit markets in a state of panic,” said House Budget Committee Chairman Paul Ryan, R-Wis.
The findings aren’t dramatically new, but the CBO analysis underscores the magnitude of the nation’s fiscal problems as negotiators struggle to lift the current $14.3 trillion debt limit and avoid a first-ever, market-rattling default on U.S. obligations. The Biden-led talks have proceeded slowly and are at a critical stage, as Democrats and Republicans remain at loggerheads over revenues and domestic programs like Medicare and Medicaid.
With the fiscal imbalance requiring the government to borrow more than 40 cents of every dollar it spends, CBO predicts that without a change of course the national debt will rocket from 69 percent of gross domestic product this year to 109 percent of GDP – the record set in World War II – by 2023.
Economists warn that rising debt threatens to devastate the economy by forcing interest rates higher, squeezing domestic investment, and limiting the government’s ability to respond to unexpected challenges like an economic downturn.
But most ominously, the CBO report warns of a “sudden fiscal crisis” in which investors would lose faith in the U.S. government’s ability to manage its fiscal affairs. In such a fiscal panic, investors might abandon U.S. bonds and force the government to pay unaffordable interest rates. In turn, CBO warns, Washington policymakers would have to win back the confidence of the markets by imposing spending cuts and tax increases far more severe than if they were to take action now.
“Earlier action would permit smaller or more gradual changes and would give people more time to adjust to them, but it would require more sacrifices sooner from current older workers and retirees for the benefit of younger workers and future generations,” CBO Director Douglas Elmendorf said in a blog post.
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Comments (136)
tomloy
Posted on June 22, 2011 at 1:53pmNot a surprise. I having been stocking up on food for a month. The excrement is going to hit the rotary oscillator soon.
Report Post »followthefounders
Posted on June 22, 2011 at 10:11pmTomloy….you got that right !! Glad to see you are not being a Lemming and letting yourself get pushed off the cliff. We found the same answer at http://www.StoreNSurvive.com
Report Post »Socialism_Is_The_New_Black
Posted on June 22, 2011 at 1:52pmReally? Big surprise there. We went 9 trillion in the red the past 11 years knowing government retirement plans at all levels, Medicare and Social Security would grossly compound the problem. So now we are about 14.3 trillion and spend more than we take in.
Report Post »Todd P
Posted on June 22, 2011 at 1:49pmPerry / Bachman 2012
Report Post »Shamrock241
Posted on June 22, 2011 at 2:43pmDo you mean the same Rick Perry that is for school tuition for illegal alien kids Bachman/Palin 2012
Report Post »NHwinter
Posted on June 22, 2011 at 3:28pmPerry is aligned with the Bildeberg group. We need millions to march on DC and peacefully protest all that is happening in America and we need to do it soon.
Report Post »Pydge
Posted on June 23, 2011 at 6:40amGestapobama <2012
Report Post »fitsgibbons
Posted on June 22, 2011 at 1:48pmGet ready…get your portfolio in order…at least 6 months food storage…water filtration system,etc….all we need from our government is for them to get their spending in check, and to get rid of obama administration. We’ll do the rest. You will feel much more secure,believe me. It beats the hell out of standing in food lines to get the nutrition we need to survive. Prepare a little at a time and before you know it, you’ll see and feel that sense of self worth. God Bless you all, it’s gonna be tough, but we are going to be OK.
Report Post »MatawanAl
Posted on June 22, 2011 at 1:43pmand you can blame it all on the dems and obama
Report Post »Bill in Virginia
Posted on June 22, 2011 at 1:42pmWe are in a financial crisis and the Administration continues to spend money like it is water. Michele Obama takes her family on vacation at taxpayers expense – 5 Star Hotels, Gormet Food, Full Security details, Air Force Two, Military Staff/Stewards, Civilian Staff/Aids and Secure Ground Transportation. Millions of Dollars are being spent daily on the First Families entertainment and amusement. I can’t afford to take my children on expensive tours and vacations, so why should they? Are they trying to break the bank?
Report Post »Please give me a BREAK!
umreb78
Posted on June 22, 2011 at 2:16pmC’mon Bill. I watched GMA this morning (first time my TVs been on ABC since Black Tuesday in 2008) and that lame-brain Sawyer told the REAL story. She kept gushing over our Amazon’s meeting with Nelson and her “divinely inspirational” three powerful words the imposter’s spouse imparted to all the “young women” in the audience…YES….WE…CAN (truly inspirational in Sawyer’s words). WTF???? That sounds so familiar….Yes, I think I have heard those words before. We The People have got to stand together and tell them…HELL NO, YOU CAN’T!!!
Report Post »team1blazer
Posted on June 22, 2011 at 1:41pmIf the American people can’t get their own houses in order (financially), why should they expect the “government” to run a balanced budget? It all starts at home. Unfortunately, the “nanny state” does not require it’s subjects to think.
Report Post »5.45x39
Posted on June 22, 2011 at 1:41pmWait a minute, I’m confused – If I read this correctly, the Congressional Budget Office is saying the US Government is on the verge of financial collapse? The richest nation on the planet? Why hasn’t someone said something sooner? We’re just now finding out about this? Does this mean I shouldn’t still buy a 2,800 sq ft house, finance a Hummer, get $30,000 into credit card debt, sell all my gold to the “we buy gold” guy, and keep socking away college tuition in US dollars for the kids to attend Columbia University?
Report Post »Steven63
Posted on June 22, 2011 at 1:54pmAll those things you mentioned are exactly what you shouldn’t do.
Report Post »Texas Grasshopper
Posted on June 22, 2011 at 2:30pmplease dont worry ….goverment and all the smart young Goverment employees will help you ….and If they dont …well then the smart , young police force will help ..or the military same thing now …please dont film anything and now since everything is a crime ..well sorry you are under arrest ….see nothing to worry about we will take care of you now …that wasnt so hard was it ? …
Report Post »5.45x39
Posted on June 22, 2011 at 9:33pmI am a professional writer, but I do not claim to be the best. However, friends, it is my experience that the average reader (7th grade reading level) would have more than likely detected my HEAVY sarcasm (i.e. my use of screen name, avatar, blatantly-liberal college stereotype, and the “selling my gold” joke). I know there are some dummies on this site, but come on.
Report Post »heyjim55
Posted on June 22, 2011 at 1:40pmThis report is watered down it’s much worse than that, the CBO won’t come out and tell the truth. We have less than two years at the most, a Government entity will lie all the way to the end.
Report Post »ProudPatriot1776
Posted on June 22, 2011 at 1:39pmThe real question here is, how can we cut taxes more for billionaires?
Report Post »Blackhawk1
Posted on June 22, 2011 at 2:15pmYou really don’t get it do you? The Government could confiscate every dollar that every Billionaire has and it would run Obama’s deficit spending for about 2 weeks. It’s not a taxing problem stupid, it’s a spending problem.
Report Post »Pydge
Posted on June 23, 2011 at 6:31amI can’t believe there are people out here that think raising taxes and cutting Medicare and doing Obamacare are still okeydokey. The a$$ in the OO that swore to protect our nation from enemies foreign and domestic and insure domestic tranquility has committed treason and fraud and STILL HIS wife and kidlets, cousins and in-laws are traveling at what, $60k a mile?
Rich people make jobs. (The ones with water and food will be the ones doing the hiring!)
Report Post »rosecityken
Posted on June 22, 2011 at 1:34pmYet we hire the SAME people to go BACK to washington and do the SAME thing. D‘s or R’s its the same story. representatives are in their for 2 yr terms and they have the financial power in the congress. whos looking at our long term problems when all they are worried about is getting elected again in two yrs? political power thats what they are in it for…lok what happens when someone gives it to the american people straight? (paul ryan) he is demonized and depicted in commercials as pushing seniors off a cliff. what is it exactly that the opposition is planning to fix the situation? who knows? THE DEMS HAD CONTROL OF THE HOUSE AND NO BUDGET? They havent even proposed a budget in 784 days and counting. It seems a little despicable to me to shirk your duties to the american people then take pot shots at those thaty do propose ways to get us out of a hell of a mess. political cowardice, If they showed the american people hwt their actual priorities were in a budget plan, the american people would hand them their ass worse than they did last november.
Report Post »frustratedwithgovt
Posted on June 22, 2011 at 1:32pmIts always better to initiate a change yourself rather than have external forces do it for you. Just look at Greece. We need to get our heads straight on this and put focus on reducing our debt not the deficit. Bidens plan to eliminate 2 or 4 trillion over the course of 10 years is a joke.
Report Post »maxedout
Posted on June 22, 2011 at 1:30pmDone like toast….and I’m talking about the country. Two trillion over TEN years? A lousy two hundred billion per year? Sounds like a lot, but means nothing. Where‘s the debt and deficit going to be in that same time frame if you’re running trillion dollar deficits EVERY year! It’s not enough trying to reduce the deficit…..how the hell are you going to manage the debt? How much is too much for these morons….eighteen TRILLION?…..twenty five TRILLION?….FIFTY???? You…are…hooped! And the rest of the world is swirling around the toilet with ya. Thanks buckets. Socialism? One word……GREECE!
Report Post »atechgeek
Posted on June 22, 2011 at 1:29pmCover Your A$$ .. food, water, ammo … I hope we aren’t already sliding down that slippery slope.
Report Post »rabblechat
Posted on June 22, 2011 at 1:24pm“the CBO report warns of a “sudden fiscal crisis” in which investors would lose faith in the U.S. government’s ability to manage its fiscal affairs.”
Report Post »Does anyone have faith now?
Gonzo
Posted on June 22, 2011 at 1:24pm$14.3 trillion in debt and Democrats are fighting over cutting 4.2 trillion over 10 years? Wake up and smell the coffee boys…and Barry hits a towering drive down the 10th fairway, way to go Mr. President!
Report Post »chazman
Posted on June 22, 2011 at 2:33pmYeah, playing golf while America fails. Kinda like Nero fiddling while Rome burned …
Report Post »Brasil2520
Posted on June 22, 2011 at 1:23pm” unless policymakers in WASH. can slam the brakes on spiraling deficits ”
We are doomed !
Report Post »justasoldier
Posted on June 22, 2011 at 1:23pmThis is my surprised face.
Isn’t that what the American people have been saying for quite some time?
Report Post »Stand_up_and_fight
Posted on June 22, 2011 at 1:22pm“Could be”?
Report Post »Gashouse Gorilla
Posted on June 22, 2011 at 1:22pmLOL. Note to CBO: “Thank you, Captain Obvious”
Report Post »TexasCommonSense
Posted on June 22, 2011 at 1:20pmI thought we could spend our way to prosperity? Idiots.
Report Post »OhSuzieQ
Posted on June 22, 2011 at 1:27pmlol!!
Report Post »TexasCommonSense
Posted on June 22, 2011 at 1:56pmI agree, the government is so inept it’s laughable.
Report Post »southerngal
Posted on June 22, 2011 at 2:48pmok, simple solution. lets say i want to borrow a trillion dollars from you, but wait only give me half and you can owe me the other half. so now i owe you 500 billion and you still owe me 500 billion, so were even …………….right?
Report Post »RepubliCorp
Posted on June 22, 2011 at 2:53pmCan I grab the pitchfork now or do I have still play nice?
Report Post »sWampy
Posted on June 22, 2011 at 1:20pmWe should prepare for this, start tariffs on foreign goods, get jobs back in this nation before it’s to late, stop buying foreign energy, and stop paying all foreign debts. We can be self sufficient, and were, until these progressives decided we need to have our economy entangled with foreign governments so we will no longer be a strong enough power to prevent them from taking over the world.
Report Post »Dustyluv
Posted on June 22, 2011 at 1:34pmToo late Swampy. we are on the downside of the waterfall….If you haven’t prepared you are toast. Just a matter of time before we crash on the rocks below. Owie…
Report Post »SpankDaMonkey
Posted on June 22, 2011 at 1:18pm.
Report Post »Obama know’s that if he allows America to died tomorrow, the world
that we live in could never replace us in a thousand years.
And the whole America would leave behind would be felt by the world
for the rest of time.
Gonzo
Posted on June 22, 2011 at 1:27pmThye have big plans for that hole…a “glorious, Marxist utopia”.
Report Post »nomercy63
Posted on June 22, 2011 at 1:16pmHow many federal employees and trillions of dollars and your now just figuring this out????? I feel safe already!!!
Report Post »MonIIIIcne
Posted on June 22, 2011 at 2:21pmI have always said, we should have paid our bills back then, but everyone was so scared they just kept going to the Mall.
Report Post »VRW Conspirator
Posted on June 22, 2011 at 3:38pmThe CBO needs to know how to do math…they say that our 14.3 Trillion in debt is 69% of the US economy…which would make the economy GDP worth 21 Trillion….last I heard, we only have barely over 17 Trillion in GDP…which actually makes the debt we carry closer to 85% of the GDP… Greece feel apart because they hit 120% of GDP… Japan is already over 100%…Spain, Portugal, Italy, Ireland are all approaching 100%…we don’t have until 2015 let alone 2023..Europe will collapse by then without MASSIVE austerity programs across the board…like working 40 hours a week for the same pay as their 32 hour week now…and having to retire at 65 like in the USA instead of 55 like they do now…having to pay a percentage of their own retirement and healthcare, like most Americans do now…50% or more usually..most in Europe pay 0%
Once Obummer-Care kicks in in 2014..if not repealed completely or defunded completely..even the secret 105 billion..our debt will jump by over 1 Trillion a year..with the 1.65 Trillion projected this year and the 1.2 Trillion projected next year (2.85 Trillion more by the end of Obama’s reign) and every year after that for the rest of the decade…by 2023 our debt would be close to 30 Trillion…
Report Post »even at the CBO number of 21 Trillion for GDP, we would have to grow 4-5% a year MINIMUM to reach 30 Trillion GDP by 2023..this year growth is barely 3% and that doesn’t take into account the TRUE inflation of 10%..only 5%..so we are -2% growth
It is their RIGHT, it is their DUTY...
Posted on June 22, 2011 at 1:15pmGee, duh, O, Ya think ??? How stupid do you think we are??
Report Post »We, as in the people, ALREADY KNOW !!
SpankDaMonkey
Posted on June 22, 2011 at 1:19pm.
Report Post »The headline will read: America born 1776, died 2008…….
MidWestMom
Posted on June 22, 2011 at 1:19pmExactly what I was going to say! Too bad the government won’t listen to a word of the report.
Report Post »banjarmon
Posted on June 22, 2011 at 1:20pmFIRE all in Government NOW!!!
Report Post »SavingtheRepublic.com
Posted on June 22, 2011 at 1:21pm^____^____^
Second that! Who doesnt know… oh wait there are boatloads of ppl who dont know or refuse to accept what is coming down the road. “That wont happen here” is their mantra BECAUSE this govt is doing the most irresponsible thing possible of not telling ppl to prepare and downplaying the severity of our financial state.. No of course not WHEN SHTF they will just herd all the deniers to the superdomes!
Where ever they tell “you” to go DONT GO!
Report Post »AzDebi
Posted on June 22, 2011 at 1:27pmhttp://www.shoebat.com/audio/savage062111.php
In an extraordinary interview Walid exposes Huma Abedin, the wife of the disgraced Congressman Anthony Weiner as a potential infiltrator in the State Department who has access to sensitive information.
Will she, with the help of Hillary Clinton, run for Weiner’s seat? We need to watch this…
Report Post »Cobra Blue
Posted on June 22, 2011 at 1:27pmSO! This is no news. They aren’t going to stop spending. Get prepared. Practice self-reliance. The last person you want to trust is a politician and/or the government.
Report Post »101
Posted on June 22, 2011 at 1:29pmBuy gold & silver paper is worthless
Report Post »Dustyluv
Posted on June 22, 2011 at 1:31pmWhat’s going to happen to all those welfare recipients when the Government cant pay them? I see large cities burning to the ground…Thanks Obama! Your economic plan was soooooooooooooo good!
Report Post »HUGGINGMYBABIES
Posted on June 22, 2011 at 1:33pmThey ONLY people who don‘t know this are the ones getting all their benefits from Uncle Sam and the Progressives who’d like to see MORE of us getting all our benefits from Uncle Sam…..the hard working, budget living REST of the Nation has been yelling the SKY is FALLING for a LONG LONG time now. I’m going to get a big snicker when they are all standing there with their hands out uttering “We never saw it coming”, “Who let this happen?” They caused the housing bubble and crash and they will drive this one off the cliff too and then point fingers. In the mean time, I’m doing all I can to recession/depression proof my home and family!
Report Post »smithclar3nc3
Posted on June 22, 2011 at 1:34pmThe days of Democrats buying votes with entitlement programs are at an end. They are fighting tooth and nail to keep the spending up by taking more from the tax payers but it’s not happening. We’re at the precipice where either we go down in flames or start scaling back down the mountain of debt.
Report Post »And what brought us here Bill Clinton and Andrew Coumo’s revamp of the CRA and their write in on the graham leech bailey act. Those two things started the snow ball that crushed America’s economic structure.
knockered
Posted on June 22, 2011 at 1:36pmOur founding fathers were real men not like these jokers in washington are now. It’s time to get rid of them all and start over and this time keep a closer eye on the theives before we get to the point of going broke. It’s a shame that these people who call themselves Americans would allow the country to fall for their own gain. If you look at their finances they have all become rich off the working people. Shame on them…and shame on us…
Report Post »ProudPatriot1776
Posted on June 22, 2011 at 1:39pmI would say 1980, when Ronald Reagan took office. He expanded the government larger than any other president. He crated the largest government office, Office of Veterans Affairs, and sky rocketed the debt. And America began in 1789 with the dismantling of the Articles of Confederation and the implementation of the Constitution. Any patriot knows that.
Report Post »Eric_The_Red_State
Posted on June 22, 2011 at 1:39pmForget GOLD and SILVER –
Buy FOOD and AMMUNITION
Because the $%$% Is about to hit the fan.
Report Post »Susan Harkins
Posted on June 22, 2011 at 1:44pmWarn and Warn away, CBO.
We all know that the Greatest Depression is coming; but stop spoiling our bread and circuses moment!
Report Post »Susan Harkins
Posted on June 22, 2011 at 1:47pm@Dustyluv
Yea but you are not looking at Obama’s full plan….ya see, once the cities burn and citizens die, Obama can create an enormous amount of “shovel ready” jobs — what, I mean, with all that ASH and those CORPSES….its a shovel-ready dream!
New Jobs Are HERE AGAIN! Whoo-hooo!
Report Post »Anonymous T. Irrelevant
Posted on June 22, 2011 at 1:57pm“aimed at slashing more than $2 trillion from the federal deficit ”
How about slashing 2 trillion in the current budget? STOP SPENDING!
Report Post »vennoye
Posted on June 22, 2011 at 2:06pm@101
Report Post »Eric is right. Gold and Silver are going to do anygood if there is nothing to buy. We are going back to barter status. Better to get stuff to barter with!!
@Susan……thanks for making me laugh…….
KellyR
Posted on June 22, 2011 at 2:06pmExactly their goal…that‘s why they won’t listen….Collapse the system and take over!
Report Post »april 12 1861
Posted on June 22, 2011 at 2:08pmOur freshman congressman came home a week or so ago and told a local group that, neither the D‘s or the R’s are willing to budge. They are both willing to go over the financial cliff.
Report Post »SavingtheRepublic.com
Posted on June 22, 2011 at 2:13pm^____^____^
@ erik the red state and everyone else including Glenn!
You are dead on! Everyone better take note when SHTF it wont be about how much gold & silver you have it will be about situation/something like this:
Person A: I have plenty of water but no food
Person B: I have plenty of food but no water
Person C: I have gold and silver :)
A & B trade water for food, Person C still standing there with their gold and silver…
Every single end of the world apocalyptic movie or tv show I have ever seen including the recent Discovery Channel series ‘The Colony’ gold and silver are NEVER mentioned. Its all about food, water, fuel, medicine, ammo and SKILLS. Those of you thinking gold and silver will be your savior need to think long and hard and may want to add the poor mans currency to you prep list aka BRASS!
Report Post »cessna152
Posted on June 22, 2011 at 2:23pmOhhh, shut the CBO up, that is crazy talk. Weiner, investigate them..
Halocaust survivor gives account of incremantal steps of Hitler… truly AMAZING! This administration are NOT Marxists they are National Socialists! Her story is unbelievable and shows how Hitler’s propaganda convinced the populace to vote for and trust him.
Report Post »http://www.youtube.com/watch?v=HAvMHWhdEUU&feature=youtu.be
Gold Coin & Economic News
Posted on June 22, 2011 at 2:37pmSudden collapse, REALLY? We’ve been putting patches on the economy for years while people like Barney Frank and Chris Dodd have been trying to destroy it for at least twice as long by looting from banks and taxpayers.
You ain’t kiddin the economy is on the verge, in fact I have know idea how the h*ll it hasn’t already imploded. We don’t have a chance of ever recovering with the current band of looters at helm.
Hold on to your backsides because it WILL happen. Waiting…
Report Post »CultureWarriors
Posted on June 22, 2011 at 2:37pm@banjarmon : Fire them isn’t good enough. Put’em ALL in jail or get a rope. We need to hold them accountable!
Report Post »USAMEDIC3008
Posted on June 22, 2011 at 2:38pmDid you ever wonder what is was like at the Alamo,or
Report Post »the Little Big Horn. Both lost the battle,but in the end won the war.. Sun Tzu–The Art of War…
You should read it ,you will see most of what has been done to us-U.S.
over last 100 years .
Got to go,their in the wire
May be time to Go For Broke………………………..
Sound The Trumpet In Zion
Posted on June 22, 2011 at 2:46pmIt is their RIGHT, it is their DUTY…
Report Post »Gee, duh, O, Ya think ??? How stupid do you think we are??
Well actually, don’t ask the WH or their idiot cronies. They are either definitely too stupid to realize this or they are doing this on purpose. Both of which means that they need to be removed from office NOW!!!
101
Posted on June 22, 2011 at 2:46pm@vennoye @Eric
Report Post »You’re correct…when you catch-up buy gold/silver I’m ahead of you!
hauschild
Posted on June 22, 2011 at 2:58pmThe pathetic losers will go to any extreme to get that debt ceiling raised.
What a sham!
Report Post »ConcernedConservative
Posted on June 22, 2011 at 3:02pmSpankDaMonkey
Posted on June 22, 2011 at 1:19pm
.
The headline will read: America born 1776, died 2008…….
Already been uligized…
http://www.freerepublic.com/focus/bloggers/2180670/posts
Report Post »fastfacts
Posted on June 22, 2011 at 3:41pmHere are the headlines and admissions of the CBO: ( http://tiny.cc/tdmkz )
- CBO: Stimulus almost doubled U.S. debt
Report Post »- CBO: By 2021 debt would reach 101% of GDP
- CBO Releases Daunting Long-Term Outlook
- CBO: ObamaCare is “Unsustainable”
- CBO: Federal Debt to Hit 70% of GDP This Year
True American66
Posted on June 22, 2011 at 4:06pmGee…where have I heard this before….OH YEAH….it was on the Glenn Beck Show about 6/8 months ago!!!
Report Post »Snowleopard {gallery of cat folks}
Posted on June 22, 2011 at 4:13pmTo the CBO:
Tell us something we do not already know and understand; get the rest of congress and the POTUS to understand it and do something about it.
Report Post »Dkoonz
Posted on June 22, 2011 at 4:31pmWhen the **** hits the fan will you be ready?
Report Post »tower7femacamp
Posted on June 22, 2011 at 5:35pmthe USA has 100 Trillion in debt and unfunded obligations !!!!
Report Post »Wake up people ….Wake Up
tower7femacamp
Posted on June 22, 2011 at 5:36pmand the Debt is all Cynthia McKinney’s fault …
Report Post »Timsincali
Posted on June 22, 2011 at 5:54pmYou know… as much as I detest Osama Bin Barack, BUSH IS AS RESPONSIBLE!!!!! We keep talking about how bad the democats are all the while not laying blame to puke milquetoast RINOS. Now all we hear about is how very wonderful McRomney and Huntsman are due to their “intellect” and “studious decorum.” Well, you get what you deserve. STOP THE MADNESS! Vote for TRUE CONSTITUTIONAL Conservatives. RINOS make me sick!! Any one who chooses to be a moderate now is an a$$. Period
Sick…. sick I tell you is how these people make me feel as well as about 20% of the rest of the natiuon who feel like I do. Where is John Gault is what you are all going to be saying pretty soon and I am going to relish in your destruction. It will be schadenfreude for sure and I am not proud of it but if you love your RINOS like I know you do then you deserve it. Very sad days for our once great nation.
Report Post »DisillusionedDaily
Posted on June 22, 2011 at 9:02pmAccoding to an article I read on Drudge a little while ago, Biden and his Obama appointed committee believe we need another stimulus to get the economy moving again. We Americans are riding into perdition on a runaway train that has jumped the tracks.
Report Post »JohnGalt
Posted on June 23, 2011 at 9:42amWow the Leftists are out in full force, trying to rewrite history once again. Thank God we all know better, and they are just fooling themselves.
Report Post »Navyveteran
Posted on June 23, 2011 at 12:58pmDisillusionedDaily
Posted on June 22, 2011 at 9:02pm
Accoding to an article I read on Drudge a little while ago, Biden and his Obama appointed committee believe we need another stimulus to get the economy moving again. We Americans are riding into perdition on a runaway train that has jumped the tracks.
—————————————-
Kind of like that Ozzie song “Crazy Train’“ ”Were going off the rails on a crazy train.” Actually if you look or read the lyrics this song kinda sounds prophetic
Report Post »Delta_River_Folk
Posted on June 23, 2011 at 3:34pmThe SOLUTION to our Nation’s Fiscal Policy is Simple:
1) Shift up to 70 % of Washington D.C.’s spending habits back to individual States (e.g., Health and Human Services, Housing, Education, Energy, Agriculture, Labor, Social Security, etc..), then let States decide how to spend the money collected from its citizens
2) Stop all tax collection by the Federal Government, and mandate that only individual States shall collect taxes from citizens (as originally outlined in the Constitution and upheld by the Supreme court on several occasions)
3) Individual States will send enough money to Washington D.C. to cover the spending not delegated to the states in Step (1) above (e.g., National Defense, Foreign Diplomacy, those items originally outlined in the Constitution)
4) Set Back and watch: States grow, Washington D.C. corruption slow down, backroom deals disappear, and our Nation prosper
We are called the United States, not the United State
Report Post »militiaman
Posted on June 24, 2011 at 7:48amIt isn’t just the huge debt and plummeting economic situation that has brought the American empire to the brink.
Being the world’s policeman; encouraging the inundation of people into the country with few jobs, paying them large welfare benefits, and fractionalizing the nation into contentious tribal factions, all are causing leaks in the American ****.
The situation won’t be reversed. The American empire is in the sunset of its life. That isn’t my wish. It’s reality.
I would rather recognize the worst and prepare for it, than to be in denial fighting desperately to survive when critical mass is reached.
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