Article

2010-07-12 Economy

Obama's debt commission warns of fiscal 'cancer'

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Posted by 2010-07-12 05:53|| || Front Page|| [1 views ] Top

#1 Cut spending.
Any Department or Bureau that didn't exist before 1970 are on the chopping block. No civil service cross department transfers.

Posted by Procopius2k 2010-07-12 08:04|| 2010-07-12 08:04|| Front Page Top

#2 I know what to do!

Why not make another massive federal bureaucracy, bankrupt it, and then say we need another massive federal bureaucracy!

And when the unions that work for that massive federal bureaucracy go broke, give them stimulus money!
That'll fix it.

Posted by newc 2010-07-12 08:23|| 2010-07-12 08:23|| Front Page Top

#3 Not likely that our political weasel-class will cut either S.S. or Medicare.

Which means that, with near-certainty, they will slash defense spending. Ferguson's right: if we don't get the deficit down asap, we will forfeit our military superiority.

Or has that been Barry's game plan all along?

Posted by lex 2010-07-12 08:30|| 2010-07-12 08:30|| Front Page Top

#4 Cal Thomas said this morning it wasn't so much a cancer as an addiction...

Posted by IG-88 2010-07-12 08:58|| 2010-07-12 08:58|| Front Page Top

#5 ..a black hole. The way its looking, we might as well allow the whole system to collapse. At least then, all the special interests blocking real reform will be with everyone else, starting at zero. Hard to build a constituency upon promises made upon zero value and worth. It'll be social political deflation with a reshuffling of what is truly critical and new centers of power and influence made by those willing to do and sacrifice versus the parasitic and fluff of modern political patronage.

Posted by Procopius2k 2010-07-12 10:22|| 2010-07-12 10:22|| Front Page Top

#6 The reservoir is almost empty, the level being maintained by China, et al. We need to cut, but politicians are unwilling to do the right but unpopular thing.

We have been warned by our bondholders not to go to the trough big time again. Hell, the Chicoms have more fiscal sense than us.

So, since we can't or are unwilling to get our fiscal house in order, economics will do it for us. And most everyone will share the pain. Big time.

Posted by Alaska Paul 2010-07-12 10:51|| 2010-07-12 10:51|| Front Page Top

#7 "Y'll stand back! I'm gonna have to perform an emergency cash-ectomy!"

Posted by mojo 2010-07-12 11:05|| 2010-07-12 11:05|| Front Page Top

#8 Hmmmso the Democrat controlled congress isnt going to submit, vote, or much lessyou knowactually vote on a budget this year. After all, why waste all that time debating when you can simply deem a budget to have been passed? Not to mention, its a good way to add a little slush to your programs in the event that Obamas debt commission recommends those pesky spending cuts or freezes. Think about ityou can tell all the rubes you made painful cuts when your blowing the same amount of dough as last year. Brilliant!

Posted by DepotGuy 2010-07-12 11:53|| 2010-07-12 11:53|| Front Page Top

#9 the whole rest of the discretionary budget is being financed by China and other countries," Simpson said.

Shameful!

And who created this fiscal cancer (addiction)?

We need a guy like Gov. Chris Christie in the Presidency and people in Congress of a like mind (and with a spine).

Posted by JohnQC 2010-07-12 15:45|| 2010-07-12 15:45|| Front Page Top

#10 Massive deficits are teh Democratic Party's own version of "starve the beast": force huge cutbacks in the defense budget by starving the government of access to debt on affordable/sustainable terms.

Posted by lex 2010-07-12 15:57|| 2010-07-12 15:57|| Front Page Top

#11 The rest of the federal government [in addition to social security, medicare, and medicaid], including fighting two wars, homeland security, education, art, culture, you name it, veterans -- is being financed by China and other countries.

It is SHAMEFUL that China and other countries are financing any part of our federal budget!

Posted by JohnQC 2010-07-12 16:19|| 2010-07-12 16:19|| Front Page Top

#12 That is a national security problem!

Posted by JohnQC 2010-07-12 16:20|| 2010-07-12 16:20|| Front Page Top

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