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2011-08-02 Home Front: Politix

Federal Spending Grew More Than Ten Times Faster Than Median Income

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Posted by Eohippus Phater7165 2011-08-02 00:00|| || Front Page|| [5 views ] Top

#1 And decreasing amounts of those funds are going to cover debt rather for program spending. No program money means: less from the government. Frankly, I don't understand why some see heroism within the Federal political class. Aren't they all parasites?

Many large corporations have monthly crises about being able to cover payroll and inventory with short term financing. They are hanging on because banks are able to use the savings of Americans with little or no costs to them. But even savings are drying up. That means there is less money for investment in business enterprises.

There is one essential solution: debt repudiation. Of course, not from China or Russia (who hold massive volumes of US cash, to settle trade). Imagine what the President of a bankrupt America would have done after September 11, 2001, and do it now. Nuclear arms are cost-effective. And they are better used for blackmail, than mass destruction.

Can BHO point the finger for his fiscalamity, at GWB? The events of October 2008 follow years of regulatory monstrosities and nation-building money burning abroad. Then there is the 3 trillion lost from ineffective tax cuts. Yah, BHO's "Stimulus Package" didn't work. But "infrastructure" components had bi-partisan support. As did the money-printing to increase loan capacity of the Financials.

It would be a catastrophe if "Mr Hope" is re-elected. But, he can win a finger-pointing campaign. He can only be defeated by a solution-based agenda. Who will be first to advocate forthwith reduction of Federal and State public service pensions, to levels of 1% for each year of service, and based on average wages (without overtime) for the entire period? That would mean 4 things: trillions in cost reductions, satisfaction of "States Rights" proponents, and 93% of the population not directly effected by the implementation, and beaten down arrogance within the bureaucracy.

Posted by Thumper and Tenille2812 2011-08-02 04:41|| 2011-08-02 04:41|| Front Page Top

#2 Thumper you speak the truth. Making payroll has got to hurt. To maintain standard of living many have gone into retirements:

"Commerce employees owed their 401(k) accounts $8.6 million at the end of 2010, a 21 percent increase from 2008.

Data covering more than 20 million participants in 401(k) plans nationwide showed 21 percent had taken out loans against their accounts at the end of 2009, up from 18 percent in the three previous years.

It was the highest level ever found by the Employee Benefit Research Institute since it began collecting the information in 1996.

EBRI hasn't reported on last year yet, but companies that administer plans say they saw increases in 2010 on top of those in 2009".

Read more: http://www.mcclatchydc.com/2011/08/01/119051/more-people-borrowing-from-401k.html#ixzz1TrPXGjeI

Easier and when your overextended. Only choice for many but hard to pay back.
Ditto: "He can only be defeated by a solution-based agenda".

Posted by Dale 2011-08-02 05:07|| 2011-08-02 05:07|| Front Page Top

#3 A sobering read

The phony-as-a-$3-bill debt deal

Posted by phil_b 2011-08-02 05:39|| 2011-08-02 05:39|| Front Page Top

#4 Things could be turned around. I always told my son's that your business is either growing or shrinking. In one ear and out the other. This article shows promise for managing this mess:

link

Posted by Dale 2011-08-02 08:35|| 2011-08-02 08:35|| Front Page Top

#5 Many large corporations have monthly crises about being able to cover payroll and inventory with short term financing

Nonsense. Small corporations, perhaps. But large corporations in that situation should already have been cutting unprofitable products and unnecessary or semi-necessary personnel. They pay those MBA types the big bucks to know about such things, after all. Even the car manufacturers in Detroit have done so. In fact, our honourable president has gone on record demanding that the large corporations start hiring and investing again, instead of hoarding large cash cushions.

Posted by trailing wife 2011-08-02 08:43|| 2011-08-02 08:43|| Front Page Top

#6 I was looking at the National Debt Clock. Each one of the taxpayers owes $1,027,463. The assets of each citizen are $243,275. I'm not good at accounting but I think that says we are bankrupt. Can each of us file a Chapter 11? Joe Biden says the Tea Party are terrorists. The terrorists are in Washington, D.C. I thought the 14th Amendment abolished slavery!

Posted by JohnQC 2011-08-02 09:19|| 2011-08-02 09:19|| Front Page Top

#7 Washington is an Alice in Wonderland kind of place. Nothing is as it appears. Spending cuts become spending increases. Removal of the Bush tax cuts become tax increases or revenue. Muslim terrorists are called "man-caused" disasters by Janet Napolitano. Tea Party citizens become terrorists according to Joe Biden when in truth the terrorists are the politicians who keep spending each of us into enslavement in Washington. Maybe Napolitano's definition of a terrorist is appropriate since this economic disaster in Washington is a man-caused disaster.

Posted by JohnQC 2011-08-02 09:43|| 2011-08-02 09:43|| Front Page Top

#8 Congress let NBC monitor their dirty work a few days ago. What a bunch of pampered poodles. I didn't see a single politician in an off the rack suit. They all looked like a bunch of sleezy, ambulance-chasers. In fact, a lot of them would do that if they didn't con voters into supporting them.

Posted by Thumper and Tenille2812 2011-08-02 20:27|| 2011-08-02 20:27|| Front Page Top

23:09 JosephMendiola
23:05 Barbara
23:02 Barbara
23:00 Barbara
22:51 Barbara
22:49 texhooey
22:42 Pollyandrew
22:37 JosephMendiola
22:36 Eric Jablow
22:29 JosephMendiola
22:19 JosephMendiola
22:10 JosephMendiola
21:50 CrazyFool
21:42 Anonymoose
21:22 Shieldwolf
20:57 Pollyandrew
20:43 Frank G
20:42 Pollyandrew
20:27 Thumper and Tenille2812
20:21 Thumper and Tenille2812
20:11 Frank G
20:10 S
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