Author Topic: Obama wants to slash $1.1 trillion over the next decade  (Read 2574 times)

Offline Genki_rockets

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Obama wants to slash $1.1 trillion over the next decade
« on: February 14, 2011, 01:21:53 PM »
LOL.  That's really funny.  Like that's going to solve the problem.   His budget cut will add $7.2 trillion while slashing $1.1 trillion.

For every dollar the US government is spending now, 40 cents are used to pay the interest, half of the debt which is owned by China.  Even if the American public is taxed at 100%,  we can't get out of this mess.

Obama wants to cut heating assistance to low income family.  Is he out of his mind?  People will freeze to death!!!

People need to realize that no matter what the US government does now, it can't avoid the inevitable.  We will go bankrupt.  Soon or later. 

China & Russia has agreed to trade oil and other precious metals without the USD.  IMF proposed creating a world reserve currency that will replace USD.   USD will soon lose its petrodollar status just the the British pound did in 1970's. 

Former head of the U.S. Government Accountability Office (GAO) David Walker says we are going bankrupt anyway!!!

The inevitable collapse of the U.S. economy is upon us.  Most economists and highly respected analysts are all predicting dollar collapse by end of this year/early next year.   Just check CNBC. 

We won't be able to import oil anymore.  Food price will skyrocket. 

Solution?  Get gold & guns because the food riot is coming near you. 

Offline uScott

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #1 on: February 14, 2011, 03:53:38 PM »
You can't eat gold.

One solution would be to declare war with our creditors. At this point it might spell the end of human civilization, but don't think there aren't enough doomsday cultists in the government to push that one through. There are enough of them in the wild, and you know they vote too.

No, the way forward -- the sane way forward -- is to put your head down, tighten your belt, and get on with the grim business of paying down this debt. Everybody knew this day would come, and anyone who says they didn't needs to be impeached and/or lose their voting rights. Seriously.

Offline Genki_rockets

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #2 on: February 14, 2011, 06:07:32 PM »
You can't get food without the oil.  You can't get oil without the gold.  Peter Schiff, Faber, Soros, even Ron Paul are all saying the same thing.  Dollar is so collapsing.  I don't think they are doomsday cultists.

No matter how much we try to save, there is no way in hell we can pay back 1 trillion we owe to China.  We can barely make the minimum interest payment right now.

I say we invade Canada first to secure our oil.  According to wikileaks few days ago, the head of the Saudi oil guy confessed that peak oil is soooo gone.  Why am I not surprised?  Texas oil guru Pickens said the same thing two years ago infront of the US Senate. 

After we secure the oil in Canada, I say we go invade China while we can. 

In the meanwhile, I am getting a gun or two just in case Obama is foolish enough to think that we can solve this mess without a war.   Man, it's gonna get ugly.  I don't want to live in a third world country. 

Offline herb

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #3 on: February 14, 2011, 07:05:08 PM »
Hi Genki - people were making the same dire predictions back in the 70's when we had the oil shortage. None of them have come true yet. The fact is that the proven oil and gas reserves are higher now than they were then and consumption has been going down steadily. We used almost 5% less last year than the year before. We are also developing new ways of extracting the oil which why canada's contribution is so great from their shale fields. Our military is by far the largest consumer of energy in the world. Rather than waging war on or neighbors for their oil we should stop waging war throughout the world. If we gave up war for 20 years, we could pay off all our debt and have a huge oil surplus and the rest of the world would like us again. We still have the worlds biggest economy and that will continue indefinitely. There have been kooks predicting the collapse of the dollar forever. No serious economists believe that we will ever be going back to the gold standard, despite the rantings of Ron Paul. Herb

Offline Genki_rockets

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #4 on: February 14, 2011, 09:11:29 PM »
Herb, from what I know, when peak oil in the US was reached in the 70's, the US was able to import oil from the middle east.   The whole freaking planet is ruining out of oil.  Are you suggesting we import oil from another planet?

I am half joking about invading Canada.  Canada would listen to the U.S. and would quickly stop sellin oil to China without a threat of war from the U.S.

It's so unfortunate that Ron Paul is being laughed at when he's the only politician telling us the truth.  I remember Ross Perot.  Ross Perot was a great man.  He was an honest man and he was a true patriot.  People laughed at him then but look at where we are now.  Perot warned us what would happen if we didn't keep out book straight 20 years ago.

It's too late now.  Ron Paul is telling the truth but he can't offer any solution.  No one can.  Desperate time calls for desperate measures.  Unless we dump 55 trillion dollars in senior entitlements (medicare, medicaid, social security, prescription, etc.) and tell senior citizens to go to hell, we will go bankrupt. 

Our national debt was  $382 billion in 1970.  Do you know what our national debt is right now?  $78.8 trillion.  The total world GDP is less than that.  If we had the power to tax every living soul on this planet 100% of what they earn, we still wouldn't be able to pay our debt.  Now think about that.
 
« Last Edit: February 14, 2011, 09:13:01 PM by Genki_rockets »

Offline pegleg jack

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #5 on: February 14, 2011, 10:21:42 PM »
genki, when did our national dept jump from around 14 trillion to 78 trillion and that is what i read just a couple of months ago it was at 14 and not 78 as you say it is.
you-all have a great day.

Offline Genki_rockets

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #6 on: February 15, 2011, 12:12:57 AM »
http://www.youtube.com/watch?v=K_11Ksi8n0c&playnext=1&list=PLBA27303BC7002310

55 trillion = senior entitlement
7.8 trillion = national debt owed by public
16 trillion = us insurance guarantees

I am sorry, it's actually higher than 78.8 trillion now.  This figure was two years ago.  Add few more trillions to that figure.

Offline uScott

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #7 on: February 15, 2011, 05:30:51 PM »
OK, so the $55 trillion is Social Security, which is money that the nation owes itself, not an external debt. The problem there is that someone looted the coffers and left behind a stack of worthless IOUs -- but who voted those thieves into office? (Personally I think the SS retirement program should be phased out; let those who've paid, benefit, but those of us who'd prefer to manage our own retirement finances ought to have the discretion to do so.)

Insurance guarantees, again that's an internal affair (FDIC/NCUA), and tracks with how much money Americans are putting in the bank (I guess we should be spending instead of saving, but I'm not an economist). If the economy is strong enough that banks and credit unions aren't collapsing, that money won't need to be spent. At the other extreme, if the economy is permanently tanked and the dollar is worthless, then what does it matter?

Leaving us a pittance of $7.8 trillion actually owed to other nations. We could pay that off in just 15 years simply by cutting the national defense budget by one third. Who will sponsor that bill, though?

Oil, now...that's going to hurt. First realize that oil isn't our only option, it's just the easiest. The 1970s oil crisis should have triggered a massive development effort into alternative energy, instead we allowed the oil corporations to buy up the patents and bury them to maintain their oil profits. Now we've lost forty years of initiative, the transition is looming big and it's going to be more painful than ever.

Offline Genki_rockets

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #8 on: February 17, 2011, 05:25:55 PM »
I am so sad that I even have to make this point.  The reason that senior entitlement has ballooned to 55 trillion is because of the massive fraud perpetrated by the medical professions.  As I have pointed out previously, medical providers would rather amputate your foot rather than curing the diabetic sores because curing it would cost less than $1,000.

Instead of reforming the medical industry and going after those who are responsible, (FDA, pharmaceutical companies, & medical professions that make billions and billions each year) our politicians want to cut off our senior citizens.

There is this great deception only very few people are willing to talk about.  Those that do, face incredible scrutiny and smear tactics.

http://www.youtube.com/watch?v=lwo0Iyrh1Zk&feature=player_embedded

People need to wake up.  Republicans want to cut off senior citizens.  Obama wants to socialize medicine.  Does either of these ideas appealing to any of you? 

Your average pharmacist can point you to a better medication than what your doctor prescribed.  Your radiology technician who went to 2yr technical institute can tell you exactly what ailment you have, far better than what your doctor can ever hope to understand. 

Instead of understanding what is really going on, people are just pointing fingers at each other blaming the Republicans and Democrats.  Politicians have nothing to do with this mess.  They are just as confused as you are.

If an accountant and a high school teacher teaching mathematics, and if only those two were in charge of our budget, we would not be in this mess.  Instead, the police have been dispatched to go catch the missing senators in Wisconsin who went into hiding.

http://www.foxnews.com/politics/2011/02/17/teachers-march-wisconsin-capitol-senate-moves-curtail-union-rights/
« Last Edit: February 17, 2011, 05:34:04 PM by Genki_rockets »

Offline Mitchee

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #9 on: February 18, 2011, 01:06:13 PM »
I usually don't post anything about politics because it is a can of worms.  I'm sure that I'll hear plenty of negative feedback but I feel that the Wisconsin budget story is getting very one sided media coverage.
 
Regarding the Wisconsin fiasco...
I am a Wisconsin resident.  I am extremely disappointed that some of our elected officials (democrats) have fled to another state so that the State of Wisconsin can not vote on a new budget.  (When the going gets tough, those who don't want change flee to Illinois.)  Like it or not, change is coming.  Gov. Walker (republican) stated in his campaign speeches that he would make changes to the benefits that state employees receive.  Now that he is trying to do it, state employees are angry.  The State of Wisconsin is broke.  The Governor isn't trying to eliminate their jobs, he just wants them to pay more for their benefits.  Most state employees pay very little for their health care and retirement.  When private businesses in Wisconsin make employees pay more for their health insurance and/or reduce benefits, no one seems to care.  The state employees certainly didn't care about everyone else's rising benefit costs.  Now that it affects them, it's a big deal.  Companies with unions have had to make sacrifices but the state employees want to continue the gravy train.  Even after the proposed cuts, state employees will still have better benefits than most people employed in the private sector.  If the State of Wisconsin employees want to continue to have their current benefits then they can pay for them out of their taxes and not mine. 
« Last Edit: February 18, 2011, 01:08:15 PM by Mitchee »
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Offline Genki_rockets

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #10 on: February 18, 2011, 05:11:13 PM »
Mitchee,

It's nobody's fault!!!  Seriously.  48 out of 50 states are facing serious budget deficit crisis right now and states like California could go bankrupt soon.  Historically, Wisconsin has been one of the very few states that have exercised fiscal responsibility over the years.  When I see main media like Fox news ridiculing the current situation in Wisconsin, I am just horrified.

For decades, we've shipped our factories over to China & displaced every imaginable manufacturing jobs in the U.S.   Wal-mart forced almost all U.S. manufacturers to setup factory in China.  Rubbermaid is a very few exception that chose to go bankrupt instead. 

People mindlessly buy endless junk from China and are wondering why we are in this mess.   We've displaced our scientists, engineers, and technicians.  But wait.  That's not enough.  Let's make sure that our educators, who are the backbone of our country, are paid minimum wages so that our public education system is totally ruined. 

We have become a society that encourages and ensures that professional athletes, corrupt CEO's, bankers, and entertainers are paid millions & millions.  At the same time, we are making sure that public servants such as our educators and police officers are paid bare minimum.

We are discouraged from thinking critically and no logical proposition can be stated without public ridicule and smear.   Just think for a moment who is doing all this.  If you are a person of faith, you should go ask your pastor. 

There is no solution to this mess.  We are all doomed.

Offline Mitchee

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Re: Obama wants to slash $1.1 trillion over the next decade
« Reply #11 on: February 19, 2011, 01:54:52 AM »
In the 1990's Wisconsin had a budget surplus.  Instead of investing it, they decide to send everyone a check for a couple of hundred dollars.  Personally, I think they should have invested it or at least put it away for a rainy day. 

Re-reading my original post, I should clarify a couple of issues.  I'm not implying that the State of Wisconsin employees don't work hard and deserve benefits.  I think that they should have to pay a little more for their benefits.  I'm against eliminating collective bargaining but I think that budget cuts need to happen.  I also think that there is plenty of other waste that can be eliminated from the budget. 

I don't know how we (the State of Wisconsin) arrive at a solution but I'm pretty sure that elected officials running from the issue (and hiding in Illinois) isn't the answer. 

Initial injury:  July 1985
Amputation:  December 2006 - Ertl LBKA

"The journey of a thousand miles must begin with a single step."
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