Fmr. Head of Gov’t Accountability Office: U.S. Less Than 3 Years Away From Being Greece
- Posted on August 2, 2011 at 8:54am by
Jonathon M. Seidl
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The former comptroller general — which heads the Government Accountability Office — had some unsettling words regarding U.S. debt and the recent debt debate. According to him, the U.S. is on its way to becoming like Greece, whose debt problems have plummeted that country into economic hell.
“We are less than three years away from where Greece had its debt crisis as to where they were from debt to GDP,” David Walker told CNBC.
“We are not exempt from a debt crisis,” he added. “We’re never going to default, because we can print money. At the same point in time, we have serious interest rate risk, we have serious currency risk, we have serious inflation risk over time. If it happens, it will be sudden and it will be very painful.”
He also pointed out that credit agencies downgrading the U.S. are reactionary, meaning by the time one comes the damage may already be done.
CNBC has more from the interview:
As the ratio of its debt to gross national product eclipsed 100 percent and surged toward 150 percent, Greece has twice in the last two years nearly defaulted on its debt. Only successive bailout packages from the European Union and International Monetary Fund prevented catastrophe.
When tolling up all the US debts, including huge unfunded liabilities to Social Security and Medicare, the US is on dangerous ground, Walker said in a CNBC interview.
[...]
The US is nearing the 100 percent threshold which historically shaves about one percentage point off GDP, which was just 1.3 percent for the second quarter and 0.4 percent for the first quarter.
With the recent increase in the debt ceiling and continued higher budget deficits at the federal level, the US is on course for its own crisis, Walker said.
But that’s just the beginning. Just wait until you hear him put the new debt deal numbers into perspective (hint: it barely shaves any money off the country’s unfunded liabilities):
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Comments (177)
Walkabout
Posted on August 2, 2011 at 10:01amThe “former comptroller general” who has no name or not one the article write could find!
Report Post »Banter
Posted on August 2, 2011 at 10:04amDavid Walker
Report Post »jsrRoger
Posted on August 2, 2011 at 10:19amDavid M. Walker (born 1951) served as United States Comptroller General from 1998 to 2008
Report Post »Attention2Detail
Posted on August 2, 2011 at 10:21amMaybe you should read the article before you make dumb statements. In fairness, you are not the only commenter who is much more interested in their own comments than the story.
Report Post »Walkabout
Posted on August 2, 2011 at 10:35amYup, former comptroller general mentioned in the article is David Walker. It was in the 2nd paragraph not the 1st. After not finding the name in the 1st para I started skipping down the article looking for it.
Very irritating.
Report Post »Walkabout
Posted on August 2, 2011 at 10:54amTo Attention2Detail
Not in the 1st paragraph & the video is unavailable. “The video you are trying to access is unfortunately unavailable at the moment.”
Go play with hauschild
Report Post »turkey13
Posted on August 2, 2011 at 11:01amHey – lay off the government. Now the president can go into full campain mode and get re-elected. He will now be able to campain full time and spend his billion dollar war chest. This will help the unemployment problem by providing many needed new jobs. Better get in line for one of these jobs right now.
Report Post »dblaess
Posted on August 2, 2011 at 12:02pmi see you came on board as a user july 2011. you are troll. George is this you? really stupid comment but you most likely are not able to read.
Report Post »drybackinpi
Posted on August 2, 2011 at 12:26pmHow stupid are you?
Report Post »LOLReally
Posted on August 2, 2011 at 12:50pmHere is a checklist for you,
Report Post »Read:
Think:
Reply:
in that order
Feel free to insert extra Think: checks anywhere inbetween Read: and Reply.
americanbychoice61
Posted on August 2, 2011 at 1:00pm“We are less than three years away from where Greece had its debt crisis as to where they were from debt to GDP,” David Walker told CNBC.
Report Post »modelmax
Posted on August 2, 2011 at 1:04pmDavid Walker
Report Post »Barbe
Posted on August 2, 2011 at 1:34pmBad Journalism.
Report Post »teamarcheson
Posted on August 2, 2011 at 4:11pmWILL REPUBLICANS WHO JUST VOTED FOR $2 TRILLION TODAY VOTE FOR $ 25 TRILLION NEXT YEAR?
The Government can declare anything as Legal Tender. Air is now US legal tender and the US Dollar is now backed with air. This is the only way the massive debt can be paid off is with mega-inflated money like the Weirmier Republic in the 1920s.
Report Post »sclinesr
Posted on August 2, 2011 at 5:58pmMaybe you should have watched the video. His name was at the bttom of the screen,
Report Post »A Doctors Labor Is Not My Right
Posted on August 2, 2011 at 6:36pmAs an American, I am ashamed to say that Americans are REALLY, really stupid.
What moron useful idiots we’ve become.
“Marxism has stolen the liberties from, and stunted the growth of the economy of, every other country, so let’s try it here.”
Report Post »slvrserfr
Posted on August 2, 2011 at 6:41pmDavid Walker – I have his book, which would be considered any conservatives bible of fiscal policy. It offers real solutions to the debt crisis that plagues this country.
Report Post »Wixom35
Posted on August 2, 2011 at 10:27pmWalkabout: I think this may be the info on Mr. Walker that you were looking for
http://en.wikipedia.org/wiki/David_M._Walker_(U.S._Comptroller_General)
Report Post »Elaine P
Posted on January 9, 2012 at 5:37pmGo to You Tube, Type in David M. Walker and Video I.O.U.S.A, watch and listen to what he says on this video when he was Comptroller General in the US. This movie was made about 8 years ago. We are 10,000 times worse off now. America is broke. What BO and the Liberal Elitist Progressives are doing to America right now is deliberate. This is exactly what the United Nations and the Progressives have wanted for years, and because of the idiots in America who voted for a Muslim and are voting for him again, the Progressives are getting everything they want.
Report Post »Jaycen
Posted on August 2, 2011 at 9:57am3 agencies have already downgraded us. God, why can’t people tell the truth?
Report Post »Walkabout
Posted on August 2, 2011 at 10:37amWhich ones?
Now we have to look up all the credit rating agencies. Look at their track history.
I’ve heard of Moody for the longest time.
By the time we get up to speed on credit rating agencies and all, why do we need Washington again?
Report Post »seeker9
Posted on August 2, 2011 at 11:02amJust one at the current time. Sorry, name eludes me at the moment. S&P and Moody’s have only warned.
Report Post »Walkabout
Posted on August 2, 2011 at 11:15amen.wikipedia.org/wiki/Credit_rating_agency#List_of_credit_rating_agencies
Agencies that assign credit ratings for corporations include:
A. M. Best (U.S.)
Baycorp Advantage (Australia)
Capital Standards Rating (Kuwait)[32]
Credo line (Ukraine)
Dagong Global (People’s Republic of China)
Dominion Bond Rating Service (Canada)
Egan-Jones Rating Company (U.S.)
Fitch Ratings (Dual-headquartered U.S./UK) 14%
Japan Credit Rating Agency, Ltd. (Japan)[33]
Moody’s Investors Service (U.S.) 40% market share
Muros Ratings[34] (Russia alternative rating agency)
Standard & Poor’s (U.S.) 40%
Weiss Ratings (U.S.)
There are no notable European CRAs, except for Fitch, 80% of which is owned by FIMALAC, a French firm.
Report Post »Snowleopard {gallery of cat folks}
Posted on August 2, 2011 at 11:35amSo there are just three downgrading us right now? Anyone want to figure they are the ones who are most vocal and connected to the administration in lock jaw lock step?
Report Post »http://artinphoenix.com/gallery/grimm (cat folk gallery)
concealled9mms
Posted on August 2, 2011 at 1:48pmyea and these 3 agencies didnt even know when our economy fell off a cliff didnt say a word about it and know we are to believe them . they also said this latest dept crisis was effecting the stock market downward spiral well the dept plan passed and the stocks are down about 150 or so right now
Report Post »Hollywood
Posted on August 2, 2011 at 2:51pmYes,and one of them, Egan Jones rating agency, was right on Sub Prime etc,unlike Moodys,S&P who were either conned by Wall Street and the Banksters,or in collusion with them. I think the Latter. Either way, they have NO credibility
Report Post »pcj
Posted on August 3, 2011 at 12:00amMoody’s – remember them? The ones that graded those toxic mortgages as AAA bonds to be sold to suckers in the market? Attached to Warren Buffet who wouldn‘t want to lose a lot of money if there was a serious downgrade by Moody’s?
Report Post »Mateytwo Barreett
Posted on August 2, 2011 at 9:57amI never would have thought! Three YEARS?!? What is going to support the BS the LB in DC?
Report Post »Take of the ros colored glasses, Dave! We’re in the express lane!!!
OneFunR6
Posted on August 2, 2011 at 11:03amIn THREE years?????????????
US civil war AND/OR WW4.
Take your pick.
Oh, wait, it’s way too late to pick………
Better get ready, then, either way it goes.
Oh, LOOK – GOLD at new record HIGHS!
Move along, nuthin’ to see here…….
Report Post »Banter
Posted on August 2, 2011 at 9:54amIt is a real eye-opener to understand the founding fathers saw this potential to destroy ourselves, and yet, put so much faith in the honor of men. Read the Original Argument and you get a true understanding of what they viewed as honorable, something we have rarely seen in our lifetime.
Report Post »TheOracleOfTruth
Posted on August 2, 2011 at 10:29am@ Banter – you hit the nail on the head. If we all had the honor, there would be no need for a ‘permanent’ safety net, and we’d all do the right thing. Then again, if all men were angels, would there be a need for a government. The age old question, for which there is no positive answer, thus the need for a gov’t…but it needs to be a smaller one! We are damn close to socialism right now! God help us all.
Report Post »sWampy
Posted on August 2, 2011 at 10:42amWe gave allowed the courts and lawyers to remove all honor from this society.
Report Post »Banter
Posted on August 2, 2011 at 11:28amAllowing “politician” and “lobbyist” as career choices are the biggest reasons that most who go to DC are not honorable. They were supposed to go home after serving.
Report Post »Erabin
Posted on August 2, 2011 at 11:29am“there would be no need for a ‘permanent’ safety net, and we’d all do the right thing.”
Exactly. Immediate suicide if you lose your job.
Well, if men were honorable, they’d actually want to support the poor.
Report Post »Banter
Posted on August 2, 2011 at 11:42amHmmm… don’t see where anyone is saying not to help the poor. I would argue there are many honorable people in the local communities and churches that support the poor. Govt needs to get out of the charity business and put it back where it belongs – local communities.
You are confusing the truly poor with a govt created class of people who rely only on the govt handout. These are the people who are in for a truly rough time when the promises of govt finally run out.
Report Post »Walkabout
Posted on August 2, 2011 at 11:56amAT Erabin
Report Post »Take two welfare families. Social programs save one. The other continues downhill. Net result is that you have as many or more poor.
The War on poverty has no V-day because the soldiers and generals of the war on poverty suck!
Soon the poor will have the same or better standard of living as we do except they don;t do the whole rat race thing. The daily grind. The traffic. The work deadlines. The two jobs.
You suck.
sWampy
Posted on August 2, 2011 at 12:00pmErabin the poverty rate soared when the liberals put in their enslavement plans, before these thinly disguised “safety nets” were in place, when a neighbor lost a job, the community helped them bet on their feet, hired them to do often unneeded work around their homes until they could find new employment all the while encouraging them to find a job. Once the government took over, they were no longer motivated to help the people find a job, since the government workers needed the poor in order to keep their jobs, the number of poor exploded.
Report Post »STS2_SS_Iver
Posted on August 2, 2011 at 1:59pm@ Banter: Bingo! Exactly right. Our forefathers gave us much insight on how to avoid this exact situation we are in today. The Progressive movement over the last 100 years has moved the country away from this way of thinking, away from our Republican form of government, on toward a society that depends on government. The book “Liberty & Tyranny: A Conservative Manifesto” by Mark Levine does a beautiful job of outlining this slide toward socialism and big government.
If we had heeded the warnings of our forefathers this all could have been prevented.
Report Post »bruce_baker
Posted on August 2, 2011 at 4:47pm@ERABIN – “Well, if men were honorable, they’d actually want to support the poor”
I consider myself an honorable man, and I support the poor when I can.
What I don’t want to support is a government give-away program that plays faster and looser than I would in extending benefits, and in any event, only gives one in five dollars of budget to the poor, with the rest being soaked up by bureaucrat’s salaries and program operating costs.
You could pick out any church in your town at random, give them your money, and see a distributed amount of 70 – 80% going out to the people the program is supposed to be helping. Private charities tend to husband their resources more closely than the government does. The government can always just request, and usually get, more money when they run out. And that is only if you can keep the theives away…
Report Post »powhatan
Posted on August 2, 2011 at 9:53amI think that new world order is coming no matter what we do….
Report Post »wesleyapril
Posted on August 2, 2011 at 10:11amIt is – and I don’t think three years – maybe half the time. STOCK UP – guns, ammo, food, water, seeds non GMO, folks – and you might want to bug off somewhere :)
Report Post »OneFunR6
Posted on August 2, 2011 at 11:05amAs he said himself, he wants to “fundamentally transform America.”
In order to do THAT, he MUST “end America as we [have] known it”.
Sharia Law or Martial Law, take your pick.
Either way, I am prepared, are you?
Got chickens?
Report Post »Get some.
Now.
I_Hate_Libs
Posted on August 2, 2011 at 9:51amIf CNBC loses Joe Kernan it will be over for them.
The horror of the Democrat mind.
Report Post »TRONINTHEMORNING
Posted on August 2, 2011 at 9:50amDo prepare with practicality; but 2012 is our last chance to change course. At least in my lifetime and I’m 44! Our poor kids–literally.
Report Post »wesleyapril
Posted on August 2, 2011 at 10:12amOur children are doomed – better get them used to saying “masta masta” now.
Report Post »Uncurable wound
Posted on August 2, 2011 at 10:23amIm not teaching my kids to bow,Iam teaching my kids to conquer.
Report Post »America was not founded by quitters,or COWARDS…
Arise MEN of the west,you have been sitting down to long-GET UP!!!
wesleyapril
Posted on August 2, 2011 at 10:29amWell I want to shock people – personally I have been for Plan A. since January – just waiting for more and more people to come to my way of thinking – and the more I look around – the more people are. :)
I plan to die – I won’t be retrained or reeducated. Whats wrong is wrong. And hopefully I can take down a few with me :)
Report Post »Uncurable wound
Posted on August 2, 2011 at 11:03amwesley,
Report Post »Now I want you to remember that no bastard ever won a war by dying for his country. He won it by making the other poor dumb bastard die for his country. PATTON
I WILL NOT BOW I WILL NOT QUIT-I/WE WILL WIN!!!
wesleyapril
Posted on August 2, 2011 at 11:40amUncurable Wound I’m going to have to remember that – its just that I‘ve seen this a coming for a very long time and I’m somewhat depressed about it :)
Ever heard this song – http://www.youtube.com/watch?v=lTs6a0ORdQU
Report Post »Erabin
Posted on August 2, 2011 at 11:41am“America was not founded by quitters,or COWARDS…”
No, America was founded by the brave men who moved away from the poverty in their own countries to start again with a clean slate instead of working to improve the countries of their birth!
Err…. well, you could call that quitters and cowards tbqh.
Report Post »Uncurable wound
Posted on August 2, 2011 at 12:13pmWesley,yes sir I have.I Listen to it on my i pod when i work out.
Report Post »Remember we surround them.
Heres another good song
http://www.youtube.com/watch?v=oVo8g7T39A4&ob=av2n
bad company-five finger death punch-good men
Glenn Beck recommended this site,its a good one
http://theeconomiccollapseblog.com/
Ill see you there
PREPARE-Dont let your Family down…
wesleyapril
Posted on August 2, 2011 at 12:29pmUW,
Thanks so much I have never heard of Five Finger Death Punch before – I’m going to have to get it on my phone so I can listen to it again :) The video was awesome!
Report Post »chicago76
Posted on August 2, 2011 at 9:46amThe powers that be think they can go on printing money for ever. They think it is good for the economy, because it is good for the government,(and it is good for the government) They are stealing from the poor working person and middle class and giving to the rich with these deficits. Putin is correct. We are stealing from the poor working people all over the world who sell their products here. We have become a parasite on the world that takes and takes and gives nothing because we produce nothing. O is even trying to destroy our farms. The only way to stop this catastrophe from occurring is to end the fed, bite the bullet, and end all the free trade agreements.
Report Post »karlmarxjr
Posted on August 2, 2011 at 9:36amSocialism has become the norm, without realizing it has become the norm. The remedies spoken in this video will never come to bear fruit. He stated that 51% (I think it’s more like 60%) of Americans recieve some form of government assistance. Do all of them need the help? I don’t think so. In my opinion, once a country passes 48%, it enters the world of Socialism. So, fellow Comrades, all hail the USSof A. The United Socialist States of America has come of age.
Report Post »chicago76
Posted on August 2, 2011 at 9:58amAgreed. We are the USS of A. Franklin D. created it. Lyndon Johnson greatly expanded it. Ronald Reagan thru Obama finished it. I say Reagan, because to complete the process the government needed a propaganda and re-education arm to finish the complete turn to socialism. Reagan created that arm in the Department of Education.
Report Post »Mateytwo Barreett
Posted on August 2, 2011 at 10:07amYou sure abut the NEA. Seems to be everybody’s hero Jimmy Cotta blessed us with that
Report Post »‘politburo”!
bhelmet
Posted on August 2, 2011 at 10:08amCarter created the Dept of Ed – not Reagan
Report Post »wesleyapril
Posted on August 2, 2011 at 10:14amBhelmet thank you for clarifying that. I have some interesting conversations on facebook and I heard, although I couldn’t show you the post, that someone once got Reagan by himself, someone that served him and asked about the NWO – and he said that there was nothing he could do to stop it.
Well, at the end of the day, I know Whom wins :) I will take comfort on that!
Report Post »Harpotoo
Posted on August 2, 2011 at 9:34amWell that means we can save the Country in Nov 2012 by voting the GD Dems/RINOs (who ever voted for the Senate plan) and anyone else with more than 2 terms the hell out of Congress! And as for that Commie Prez, we got to get him gotten rid off.
Report Post »Snowleopard {gallery of cat folks}
Posted on August 2, 2011 at 9:41amFor some reason, I do not think we have three years, or even much more than a year; the chain of events is already underway and we now have a small window of opportunity to switch away from the status quo of DC, and hopefully will use it well.
Otherwise the rest of our history will be encompassed into the darkness of socialist dominance that will never be emerged from.
Report Post »MidWestMom
Posted on August 2, 2011 at 10:04am@ snow
Spot on.
Report Post »wesleyapril
Posted on August 2, 2011 at 10:26amSnow Leopard I 150% completely agree with you. I fear it is to late now.
Report Post »psst
Posted on August 2, 2011 at 10:37amSnow said:”and we now have a small window of opportunity to switch away from the status quo of DC, and hopefully will use it well.”
Report Post »—
Um!!! me thunk it’s We Had a small window of opportunity.That window just got closed.
The republicans choked. they were scared ,as usual,er as always, of an arm of the DNC, namely the marxist MSM.
Boneman should have called a live press conference and say ISMW ” Look Geezers, the marxists are lying to you, you ain’t gonna be eating dog and cat food. How many times have they told you this. How many times will you foolish geezers believe this BS.?
Let me tell you a real fact. When Soetorocare kicks in, your health care will be rationed. You will die much earlier than you thought. You will have to wait 5 yrs to see a Dr. about your dandruff.If you’re lucky 15 yrs to get that broken hip fixed, if ever..”
And as for you dependency lemmings,when we become a marxist country,as we surely will. Your marxist massas will make you work. You will have to work or starve. There won‘t be any taxpayers goodies so you can sit home and make more chirrens who don’t even know their fathers.Even the unknown fathers won’t be able to live off yer “fude ”stamps. Because there won’t be any”.
Oh well, that did not happen, it will never happen. We don’t have any real con rep w/ the phballs to say these things. After-all. They want to stay in congress w/ all the perks. And the wanna be prez candidates wanna get elected.And that’s the way it is.
wesleyapril
Posted on August 2, 2011 at 11:00amPsst,
Love your comment again! You sure we ain’t related? :)
Report Post »OBAMANATIONOFDESOLATION
Posted on August 2, 2011 at 9:31amYou cannot control a free man, but you can regulate his freedom.
Report Post »You cannot control a well fed man, but you can regulate what he eats.
You cannot control a rich man, but you can debase his money.
chazman
Posted on August 2, 2011 at 4:10pmRegulation and debasing is control …
Report Post »SpankDaMonkey
Posted on August 2, 2011 at 9:29am.
Report Post »We’re not gonna be Greece. But we will need Grease when the Bend & Grad Command is given…..
nysparkie
Posted on August 2, 2011 at 9:25amThis article doesn’t mean a darn thing. Until Tea Party winners are in the House, Senate and White House, (After a good delousing) the debt issue will not go away. If the Dems win all three houses, we will be taxed to pay for this growing debt. How about twice as much as you pay now. The second half of taxes just to pay for the debt! The first half for all the social programs, military and gov’t retirements.
Report Post »We are S C R E W E D ! As long as one of the three is controlled by a Dem., we’ll never get our hands around this things neck. Buy what you need to survive. If you think metals, buy and hold. If you think survival, buy what you believe you need to make it. This current travesty, which is just capitulation to the Dems, doesn’t do a damn thing but raise our debt limit by 2.7 trillion dollars. How does that get a handle on the debt? BY INCREASING IT! DUH! The Dems won again. This bill pushes the next round of debt ceiling increase out past the 2012 Presidential election. Just Marvelous, just marvelous.
Harpotoo
Posted on August 2, 2011 at 9:38amIf the Dems win I suggest you and US all move to the Freedom Friendliest states and try to prosper there without being under the boot of the Fed like it will be in the Urban centers/cities around the country.
Report Post »adastra2005
Posted on August 2, 2011 at 9:57amUnfortunately, a huge Republican victory in 2012 will only result in them being blamed for crashing the economy/country. By the time January 2013 arrives, it will be too late to save the finances and economy of America. By that time we will have at least a $17 trillion debt, an urgent need to immediately raise the debt ceiling by anouth 2 trillion to cover just the coming year’s deficit, 10% or more unemployment (20% depending on how it is calculated), high inflation and essentially zero growth in GDP. There will be “balance” alright . . . it will be incredibly painful for EVERYONE. Obama took over a bad situation and pushed it over a cliff. By the time he is gone, even the safety straps will be tearing and fall is inevitable.
Report Post »sWampy
Posted on August 2, 2011 at 10:46amThe last time the liberals did this crap to the nation, it took 20 years and a world war to pull us out. ;-/
Report Post »concealled9mms
Posted on August 2, 2011 at 1:55pmwe wont win the next election either as we are to divided everyone is always tearing down contenders even over a single issue cant win that way, nobody is a perfect president and we should keep this in mind . i personally think we need to win back the senate in a large way to ever get out of this mess obamma is putting us in
Report Post »gunther444
Posted on August 2, 2011 at 9:24amI‘m sure it’s all Bush’s fault :-)
Report Post »Mateytwo Barreett
Posted on August 2, 2011 at 10:04amSure as hell is, just ask Bawney Fwank!
Report Post »Ron_WA
Posted on August 2, 2011 at 9:23amI’m not quite that pessimistic (3 yrs) but I’m not sure that it is out of the realm of possibility.
I am certain that we are headed in that direction.
If we don’t get spending under control, get out of debt, find more revenue, cut long term obligations & build a surplus to cover the already promised future obligations we’re doomed.
Report Post »loriann12
Posted on August 2, 2011 at 9:29amThat will never happen as long as the establishment politicians are in office (Democrats and RINOs). Increasing the debt ceiling is not enough. We need to cut up the card. We need to cut enough socialist programs, as well as get rid of the abuse of such programs, to get us down to not having to borrow. If they only gave welfare for a limited time (instead of life-time welfare recipients) and made sure you were actually disabled in order to get SSI, we’d have enough money. This government (and it’s been going on for generations) has made everyone dependant on government handouts.
Report Post »progressiveslayer
Posted on August 2, 2011 at 9:21amBarry needs another great depression so he can then restart the system and create his socialist utopia,
Report Post »From each according to his abilities, to each according to his needs.We need to end the fed and remove all enemies of the constitution in all elections.This government is corrupt to the core and it might be to late to save the republic,time will tell.
starman70
Posted on August 2, 2011 at 9:35amSocialist Utopia? Margret thatcher put it distinctly when she said,” the trouble with socialism is that sooner or later you run out of other people’s money”.
Socialism has never nor will ever work. Socialism removes all incentives to advance. There will never be a socialist utopia, only a socialist Hell.
Report Post »progressiveslayer
Posted on August 2, 2011 at 9:53amStarman I’m not advocating socialism,I’m a capitalist.I’m pointing out the lunacy of Barry and his socialist policies that are destroying capitalism.
Report Post »GulfPeg
Posted on August 2, 2011 at 9:21amWhen Rome fell, they didn’t know what was happening to them. These lib turds just think that the “goose that laid the golden egg” is going to last forever.
Report Post »TheLeftMadeMeRight
Posted on August 2, 2011 at 9:14am“Business Fmr. Head of Gov’t Accountability Office: U.S. Less Than 3 Years Away From Being Greece
Everything the government estimates is way off by at least 60% or more. ”
Report Post »CRAP, we’ve got about six months to a year by that theory…
Bonesaw
Posted on August 2, 2011 at 9:26amBaton down the hatches!
Report Post »Stock up.
Get what you need while your money is still worth something.
windycitywoman
Posted on August 2, 2011 at 9:13amHello Beck friends! I have started a prayer group for Glenn and his endeavors on educating our youth and his mission in Israel. This group also posts news articles and videos on topics Glenn has covered on his show. Many others and I are members of GBTV and will be discussing his show daily and posting what he shares on the Internet. This is a great way to stay in the loop if you do not have GBTV!. We have also been doing wonderful fast and prayers on Wednesdays for Israel! If you are a “like minded” Christian, Conservative Glenn Beck fan please join us (220 of us and growing rapidly and without the TROLLS)! Find me on Facebook under Sharon Grek Papucci and send me a friend request! Men may spurn our appeals, reject our message, oppose our arguments, despise our persons, but they are helpless against our prayers.” -Sidlow Baxter
Report Post »txpedrn
Posted on August 2, 2011 at 10:07amSharon, here’s a website that anyone can post a letter to Israel people to show their support:
Report Post »http://www.letterstoisrael.com
SREGN
Posted on August 2, 2011 at 9:11amA ratings downgrade will happen despite the Satan Sandwich because we have too much debt and the sandwich does not address that. The downgrade should be the wakeup call to give these socialist legislators the bums rush. If it doesn’t, we deserve what we get.
Report Post »sWampy
Posted on August 2, 2011 at 10:48amNo, the downgrade will just make a bunch of rich liberal bankers and wall street types much richer, while squeezing wealth from the poor and middle class.
Report Post »NOBALONEY
Posted on August 2, 2011 at 9:10amSend ttis message to Professor Paul Krugman.
Report Post »hauschild
Posted on August 2, 2011 at 9:32amPaul’s certainly a “fury” little critter, isn’t he? Freaky-lookin’ little bugger, no doubt.
Report Post »starman70
Posted on August 2, 2011 at 9:56amAlso Van Jones, Saul Alinsky, BHO, Nancy Pelosi, Harry Reid, George Soros (Who really wants this country to fail) and all others who promote European style socialism.
Check out Venezuela (Rapidly on the road to collapse – - only oil keeping it afloat), Cuba (Dead in the Water), China (Rapidly abandoning socialism in favor of capitalism), N. Korea (Socialist ideology really worked here), Viet Nam (beginning to see the light), the former USSR (Collapsed from within due to the weight of socialistic programs), Greece (Bankrupt), Spain (Bankrupt), Italy (Almost bankrupt), Iceland (Received huge bailout), France (Only tourism keeping it afloat), Britain (Instituted severe reforms) and the list goes on and on.
Workers in the old USSR had a saying: “The government pretends to pay us and we pretend to work”. This is the true fruits of a socialistic economy. Only when a person can profit from his or her own initiative and be assured that the government won’t “confiscate” the fruits of their labor, will they put forth the effort required to become productive.
Report Post »burr99
Posted on August 2, 2011 at 9:07amI truly hope that you have prepared your self, and your family for what lies ahead. America will be great again if we prepare, and unite.
Report Post »psst
Posted on August 2, 2011 at 11:18am@Burr who said:”truly hope that you have prepared your self, and your family for what lies ahead. America will be great again if we prepare, and unite”
Report Post »—
Umm. You think 47% (and growing)of the electorate who does not pay any fed taxes wanna start paying fed taxes?
For them to unite w/ those who do, they would have to tell the fed government to stop giving them freebies. I personally know quite a few people who gets large tax credits back from the feds. even though they pay no fed taxes.
Just one example. this year a young woman (23 yrs old )got 6 K back as her tax credit even though she paid no fed taxes. It was a reward for making chirrens whose father/s don’t support them.
BTW, the absent father/s did not force her to open her kcrotch. She lovingly did so.And there are Millions like her across the country.And millions of such fathers.(?)
Her chilluns will be a clone of her. Living off the taxpayers.
Ya thunk these kinds of people want to unite w/ the likes of US?. Pay fed income taxes, give up guvmint goodies? Better wish to win the powerball /lottery swepstakes. You will have better odds, which are none and never.
Erabin
Posted on August 2, 2011 at 11:25am@Psst
Cool story bro, but not based in reality.
Report Post »psst
Posted on August 2, 2011 at 11:43am@Erabin.Yep. It’s based on reality bro.
Report Post »ya see, I grew up poor, at one time in my live, I slept on a table where I worked. I‘m in my 60’s I know lots of poor folks. I know 5 men personally , younger than I am, in better health than I am ALL on SSI. 3 of them work for $$ under the table..
I live in the real world.
That girl I mentioned, it’s absolutely true. And she is also on dope.
I’m not rich by any standard, but I’m fairly well off due to hard work.
I have 3 chirrens. A Lawyer,a Doctor and my surprise package, my daughter , who came along late in life, she’s an RN.
I deal in the harsh/hard facts of life.
Now I gotta git to work. yes. I still work 2-3 days a week. Gets me out the house.
Yes, I enjoy working, I love what I do.
Ta-ta now.
Secessionista
Posted on August 2, 2011 at 9:05amThe ONLY outlet now is to erode the currency and repay the debt with diminished (inflated) dollars. MASSIVE inflation. Any other attempt to escape this disaster is hopeless. America cannot repay the debt, ever. It can’t even continue to pay the interest on the debt – it is a huge drag on the economy.
We will remain in recession, or on the brink of recession, until we resolve this issue.
We must devalue the dollar and repay the debt if we wish to continue as a country. Otherwise, we WILL collapse into ruin. And when we collapse, the other countries of the world, who we have abused with our reserve currency status, will not be forgiving. Imagine what the payback will be like.
Ron Paul is the only presidential candidate for 2012 who can end this madness.
Report Post »SON OF JEFFERSON
Posted on August 2, 2011 at 9:04amCanada oh Canada, don’t make our mistake build your fence now
Report Post »Mateytwo Barreett
Posted on August 2, 2011 at 10:00amStart and the ends! My plan is wet back it, to Winnipeg!! lLONG LIVE THE LOON!!!
Report Post »Son_of_Liberty
Posted on August 2, 2011 at 9:02am“I sincerely believe that banking institutions are more dangerous than standing armies; and that the principle of spending money to be paid by posterity… is but swindling futurity on a large scale.” Thomas Jefferson
End the Fed, and end Obamas dream of a euro-socialist, neo-fascist state!
3%
Report Post »chicago76
Posted on August 2, 2011 at 9:52amThe only way you can create a socialist utopia is by printing money. We cannot support and won’t support it unless we print money. Without the printing presses, taxation of all income increases to 50% . The American people would revolt. The government knows this. Without a printing press all these social engineering programs die on the vine.
Report Post »Erabin
Posted on August 2, 2011 at 11:23am“Without the printing presses, taxation of all income increases to 50% . The American people would revolt.”
The American people didn’t revolt when the top marginal tax rate was 94%. In fact, they enjoyed their most prosperous time ever.
So what happened to the American people? Did they get dumber? Or did the propaganda just get better?
Report Post »sWampy
Posted on August 2, 2011 at 11:35amErabin is a great example of stupid, lying liberals, the economy doing good in 1945 had nothing to do with the top rate being 94% it had to do with being in wwii, and spending tons of money building weapons, and being at full employment. And it was only good for the really rich at that time, my parents tell me about the rationing lines, collecting tin from gum wrappers for the war effort, and having next to nothing to eat, his sister having to ware his outgrown underwear, really great times.
Report Post »eagle2715
Posted on August 2, 2011 at 12:49pmI’d be suprised if Erabin even undesrtands what a “marginal tax rate” is. If he does know, than he is just talking out his rear…….
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