Article

2009-06-29 Economy

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by g(r)omgoru 2009-06-29 04:47|| || Front Page|| [11129 views ] Top

#1 This is really scary stuff. Despite everything the CBO is telling us, the 0ne insists that any criticism of his plans for energy and health care reform are "misinformation".

If even one of the aforementioned plans are implemented, let alone both, how long will it take to undo the immense damage it will inflict upon our country? Or are we totally screwed not matter what we do?

Posted by eltoroverde 2009-06-29 10:53|| 2009-06-29 10:53|| Front Page Top

#2 But long before 2038 the fools who attempted to take on the debt load for us will be out of office and in the political equivalent of a locked ward.

There will be no blaming President Obama by then. He will have left office 5 years previous to this and retired to his koffee plantation in Kenya.

Posted by Besoeker 2009-06-29 10:59|| 2009-06-29 10:59|| Front Page Top

#3 There are only 3 ways out of the existing national debt:
(1) pay it off
(2) repudiate it
(3) devalue the currency
The first option is plainly impossible even now. 0's profligacy will only make things worse.

Posted by Anguper Hupomosing9418 2009-06-29 12:32|| 2009-06-29 12:32|| Front Page Top

#4 There is another way: Vote out BO next time around. Vote out the buffoons who are in Congress and replace them with people who are fiscally responsible. Vote them in with the clear understanding that they will so long as they do the job that they were sent there to do--rein in costs and spending. Also they need to quit ruining our economy.

Posted by JohnQC 2009-06-29 13:30|| 2009-06-29 13:30|| Front Page Top

#5 be there so long as they do their job...

Posted by JohnQC 2009-06-29 13:30|| 2009-06-29 13:30|| Front Page Top

#6 Politicians remuneration based on how much they lower the debt servicing costs would probably work best.

Posted by Bright Pebbles 2009-06-29 13:55|| 2009-06-29 13:55|| Front Page Top

#7 These projections are wildly optimistic, because they assume a recovery from the current collapse in government revenues (everywhere). Even where government revenues and spending were roughly in balance, large cuts in spending are required to avoid balloning debt.

Due to the wonders of compounding the crunch will come a lot sooner.

There is no avoiding large cuts in government spending everywhere. Which some of us see as a good thing.

Posted by phil_b 2009-06-29 16:46|| 2009-06-29 16:46|| Front Page Top

#8 It takes a Tank!

The cost of one Abrams Army tank could provide health care for an entire village for one year. Or new Escalades for an entire subdivision.

Posted by Besoeker 2009-06-29 17:23|| 2009-06-29 17:23|| Front Page Top

23:29 trailing wife
22:51 CrazyFool
22:26 Barbara Skolaut
22:23 Grunter in Belize
22:23 Barbara Skolaut
22:15 Alaska Paul
22:03 Redneck Jim
21:54 Redneck Jim
21:53 DarthVader
21:51 DarthVader
21:48 DarthVader
21:48 Redneck Jim
21:38 MarkZ
21:31 trailing wife
21:24 Redneck Jim
21:22 Redneck Jim
21:14 Fred
21:14 Redneck Jim
21:02 trailing wife
21:01 Redneck Jim
20:44 Atomic Conspiracy
20:43 Redneck Jim
20:43 donk
20:40 donk