usually dont talk politics

[pope]

But this is starting to really worry me. I am not trying to bash a party, only this policy. As Americans, we are all in this together. I think it is irresponsible of America to even get close to this tipping point. I think we should slow down and have cooler heads prevail.

By Congressional Budget Office's calculation, Obama's budget would generate deficits averaging almost $1 trillion a year of red ink over 2010-2019, with a total deficit of 9.3 trillion in 2019.
Worst of all, CBO says the deficit under Obama's policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable. By the end of the decade, the deficit would exceed 5 percent of gross domestic product, a dangerously high level.
White House budget chief Peter Orszag said that CBO's long-range economic projections are more pessimistic than those of the White House, private economists and the Federal Reserve and that he remained confident that Obama's budget, if enacted, would produce smaller deficits.
Even so, Orszag acknowledged that if the CBO projections prove accurate, Obama's budget would produce deficits that could not be sustained.
"Deficits in the, let's say, 5 percent of GDP range would lead to rising debt-to-GDP ratios that would ultimately not be sustainable," Orszag told reporters.

[mdrburchette]

I'm with you Pope. It's just too scary to comprehend. One thing that really has me worried is the Cap and Trade bill they want to pass that will hurt all of us at a time when we can least afford it. The budget they have has so much crap in it that doesn't pertain to running the government that it's simply shameful.

[adrians]

Interestingly I was reading an economics report of the US - Obama's policies, and it stated the problems to come that will in due time have the flow on effect here in Australia.

. Second wave on sub-prime lending defaults, same thing all over again !
. The large amount of monies that the US is borrowing from Europe that will need to be repaid in the next 5 years.

Scary stuff ! !

I know in our company the European banks have started call in the loans and trying to off-load them to the Australian banks.

[So Cal Mark]

the situation is scary, we need to get our old dictator out of retirement to fix this mess that the new President created in Jan when he took office. At the rate we're going, hardly any new millionaires will be created this month

[pope]

No matter what Clinton, Bush or Obama want...its congress that allows it to happen. Thats where the oversight and spending originate. That is where the blame should be focused.

Mark, we have a new President..its time to move on for your healths sake. We care about you and dont want you bust a blood vessel over the Community Development Act of Clintons that got us in this mess and was allowed to continue through the Bush term.
We need more millionaires. There the only ones who pay taxes anymore. Top 5% of country pays 60% of the tax.

[So Cal Mark]

I'm doing my best to create more millionaires

[Gunsmith]

I already apologized to my 11 year old daughter for the money she now owes even though she doesn't have a job or assets. It's really sad to think that our kids will be paying for this for years to come, yet the people signing us up for it wont be changing their lifestyle at all. Politicians can blame everything they want on who ever was there before but that doesn't"t excuse the new problems. What they are doing is filling the hull of the sinking ship with hot lead to plug the holes and then taking no responsibility for sinking the ship with too much weight. AHHH.....I need to go drive my Fiat!!!

[radiopilot]

I don't let it bother me one bit, other than voting the politicians out of office what recourse do we really have... you all tried that in CA and how's that working out?

I just keep working, paying the home, cars and keep my daughter in medical school is all I can do, so what I do to avoid all this negativity for the past 8 years and now the economy is to keep from any news sources when I can and just play my piano till I'm too tired to do anything else...

I could care less what percentage of taxes the rich or poor have to pay... I know I have to pay my share and that's it... but I'm glad I bought a new house this past August... came with a $7,500 bonus along with my IRS refund...so I'm playing a sweet tune on the piano!

Nick

[So Cal Mark]

smart approach

[racydave]

I just stick my fingers in my ears and hum alot! It wastes to much energy being upset. I respecy everybodys opinihummmmmmmm. Seriously this problem has been festering for years. Amoungst friends, I prefer not to put a face on it.

[pope]

I'm with your guys! Who started this stupid post.

[So Cal Mark]

so it's Uncle Festers' fault? I'm all for getting back to fixing cars

[GOPAPA]

so it's Uncle Festers' fault? I'm all for getting back to fixing cars

No Mark ! It's your fault ..YOU ,being the moderator should of blocked the last political thread . I belong to other forums and as soon as anything political starts ,,the posting and threads are stopped by the moderators. LD

[SpiderHead]

Lovely socialism here we come!

with no brakes, dodgy handling, and used tires!

Weeeeeeeeeeeeeeeeeeeeeeeeeee!

what a ride!

-Ryan

[So Cal Mark]

This section is titled OffTopic and Social. I could have removed it, but that would be the tactics of a heavy-handed dictator and we all know what happens to them. All of a sudden their statues get toppled.