National Debt tops $18 Trillion

[Baker Boy 1,485]

The national debt has soared nearly 70 percent under President Barack Obama. When he took office, it stood at $10.626 trillion, and its risen nearly $7.5 trillion under Obama.

 

The annual budget deficit was above $1 trillion in each of the first four years of Obamas presidency. The budget deficit was nearly $500 billion in the last fiscal year, but its expected to grow again if no changes to current law are made.

http://www.theblaze.com/stories/2014/12/01/u-s-national-debt-soars-to-18-trillion-under-obama/

 

What kind of society passes this type of burden to their children, grandchildren, great grandchildren, etc.

 

We currently pay $440 Billion a year in interest on the national debt. Happy birthday kids.

[MTSkiBum 1,594]

Repeal Obamacare

Repeal the "temporary" bush tax cuts

Approve all new exports of coal, with an added levy on coal exports
Approve an across the board 10% cut on the ag departments budget

[wiffleball 4,640]

we should have used our Discover card. 2% of 17 trillion aint chump change.

[HenryHill9323 65]

That is "Unpatriotic".

[Voltaire 4,560]

So many politicians in both parties don't give a sh*t. Especially AWOL on this were the last two presidents and vice presidents.

 

I was reading an Era Klein column about a year and a half ago that made my head explode. He noted that the deficit had gone down from over $1T per year down to -whatever it was at the time -$500B or so- was comparing deficit hawks to the barking dog that finally caught the car and doesn't know what to do next.

 

You know what I really wanted to tell Ezra, it's a nice analogy. I'd really, really like to feel like that proverbial dog. It'd give me a chubby. Out there, somewhere, is a magical point where I will feel that way. That point is when the deficit reaches $0, not when it reaches $500B.

 

I've been out here for years and years and years -basically all my life- advocating for all sorts of unpopular stuff: cuts to entitlement programs, cuts to defense spending, ending the Bush temporary tax cuts and raising rates on higher earners. I consider the bruising fights of the Clinton-Gingrich-Dole government shutdown negotiations as the high point of my political watching experience. I was happy then. Unfortunately, I've spent the last 14 years watching the Bushtard and Obummer not give a sh*t and fock everything up.

 

In that time there have been points of hope. I endorsed both versions of Simpson-Bowles, Dominici-Rivlin, and the Senate Select Committee recommendations. I wanted to take a high-speed flying jump off the fiscal cliff similar to what Bo and Luke did in the General Lee. As it turns out, every time I get my hopes up that the ship will finally be righted, Lucy steals the football. Again.

 

So yes, I would very love to be the dog that finally catches the car. What do we do with this modest surplus we've worked so hard to achieve? Do we pay down the debt? Do we fund this? Do we cut taxes? Only once we reach the point where we raising enough money with today's taxes to pay all of today's bills will I look around and for once see the sun come up and enjoy the morning, then look around the surrounding landscape and wonder what to do next. That would be a great day for America. I don't know what I'd recommend to do, but I would appreciate finally having the choice. I'd be one happy dog.

[MDC 5,891]

House holds the purse strings so they'll fix all this.

[Sho Nuff 719]

So many politicians in both parties don't give a sh*t. Especially AWOL on this were the last two presidents and vice presidents.

 

 

 

 

 

Unfortunately, I've spent the last 14 years watching the Bushtard and Obummer not give a sh*t and fock everything up.

 

 

True story.

[BunnysBastatrds 1,917]

House holds the purse strings so they'll fix all this.

The 50% that pay no taxes and demand government pay their freight pull the strings.

[edjr 5,567]

BUSH!

[MDC 5,891]

The 50% that pay no taxes

50% of people pay no taxes of any kind???

[IGotWorms 3,315]

Well that seals it, I won't be voting for Obummer in 2016

[DankNuggs 305]

50% of people pay no taxes of any kind???

Or the 50% that don't pay their fair share if you like that better.

[MDC 5,891]

Or the 50% that don't pay their fair share if you like that better.

I wonder how many if these 50% pay a higher overall tax rate when you consider state / local taxes, payroll, sales etc. You know you're talking only about federal income tax and that's just one piece of a taxpayer's overall burden, right?

[HenryHill9323 65]

I wonder how many if these 50% pay a higher overall tax rate when you consider state / local taxes, payroll, sales etc. You know you're talking only about federal income tax and that's just one piece of a taxpayer's overall burden, right?

But their federal taxes are the only taxes related to the national debt, so bringing up local taxes is just bullshiot on your part.

[MDC 5,891]

But their federal taxes are the only taxes related to the national debt, so bringing up local taxes is just bullshiot on your part.

Social security payroll taxes aren't related to the national debt?

[HenryHill9323 65]

Social security payroll taxes aren't related to the national debt?

Reread my post. I separated out fed from local.

[MDC 5,891]

Reread my post. I separated out fed from local.

50% of workers only pay "no tax" if you don't count social security payroll tax either.

[NewbieJr 540]

Why hasn't phurfur/Baker Boys started a thread about unemployment being at 5.8% Hmmmm.

[HenryHill9323 65]

50% of workers only pay "no tax" if you don't count social security payroll tax either.

And I believe he clarified that and pointed out he was talking about income taxes. The 50% number has been widely discussed, here and in the news, as the percent who pay no income taxes.

 

Sorry you were ignorant of all that.

[DankNuggs 305]

Why hasn't phurfur/Baker Boys started a thread about unemployment being at 5.8% Hmmmm.

Most people have become educated enough to realize the umemployment rate has been rendered near meaningless. Its like cutting a dollar bill in half and trying to state you now have two dollars.

[MDC 5,891]

And I believe he clarified that and pointed out he was talking about income taxes.

BB said the 50% who pay no taxes and never qualified that. Hth

[NewbieJr 540]

LOL I see. But let a Republican win the Presidency in 2016 and have it go down, I'll bet it suddenly becomes meaningful again. You Republitards are so focking pathetic.

[DankNuggs 305]

LOL I see. But let a Republican win the Presidency in 2016 and have it go down, I'll bet it suddenly becomes meaningful again. You Republitards are so focking pathetic.

Well, the first step is to unwind the incentive to split full time jobs with benefits into part time jobs with no benefits (while claiming you are curing the unemployment problem). The second step is to unwind the incentive to go on the permanent dole and get to a full time job.

[NewbieJr 540]

Like I said, you'll be whistling a different tune when there's a Republican President.

[HenryHill9323 65]

BB said the 50% who pay no taxes and never qualified that. Hth

He obviously overestimated your knowledge and intelligence. Can't fault him for that.

[MDC 5,891]

He obviously overestimated your knowledge and intelligence. Can't fault him for that.

Lot of time on your hands now that you're alone?

[DankNuggs 305]

http://www.marketwatch.com/story/its-official-america-is-now-no-2-2014-12-04

 

Despite all the debt to prop up GDP, we have now fallen behind China

[Voltaire 4,560]

http://www.marketwatch.com/story/its-official-america-is-now-no-2-2014-12-04

 

Despite all the debt to prop up GDP, we have now fallen behind China

It's depressing news but not unexpected. I live in China because it's an easy place to earn a living but this country has a myriad of problems and sucks on many levels. Certainly one thing it does well is grow the economy which has been only been booming and booming more in the 12 years I've been here. I've seen it. They're doing something right. Still, the US is so much better is no many ways.

[donkeyjotes 54]

Bump for phurfur...

[donkeyjotes 54]

On 12/4/2014 at 12:30 PM, NewbieJr said:

Like I said, you'll be whistling a different tune when there's a Republican President.

LOL. Prophetic...

[KSB2424 3,083]

I was right then and I'm right now.   

Term Limits is the only answer.   We need representatives who don't put getting elected next go-round as first priority on the list.   Cutting the debt and/or deficit requires reducing spending  first coupled with more (or more efficient aka less loopholes) taxation.   A politician can maybe survive one, but no politician can survive both.  

[MTSkiBum 1,594]

On 12/2/2014 at 5:15 PM, MTSkiBum said:

Repeal Obamacare

Repeal the "temporary" bush tax cuts

Approve all new exports of coal, with an added levy on coal exports
Approve an across the board 10% cut on the ag departments budget

I still agree with this, except now I think we also need to repeal Trump's tax cuts and an across the board 2% spending reduction in addition to the ag spending cut.

[RLLD 3,455]

Need to roll back social programs, should be feasible as Trump gets more and more people employed,  Its a start, wont fix it all, but reducing our global military footprint will help a ton, then we can rely on negotiation to setup fair deals instead of military threat

[BLS 313]

It will never be paid back. Ever.

[NorthernVike 2,080]

1 minute ago, BLS said:

It will never be paid back. Ever.

True.

 

 

BTW how you doing fuckstick?

[TBayXXXVII 2,117]

13 hours ago, KSB2424 said:

I was right then and I'm right now.   

Term Limits is the only answer.   We need representatives who don't put getting elected next go-round as first priority on the list.   Cutting the debt and/or deficit requires reducing spending  first coupled with more (or more efficient aka less loopholes) taxation.   A politician can maybe survive one, but no politician can survive both.  

The problem that I have with this is that if you get a good person in office, then you're forced to remove that person after a certain period of time.  You could be forced to vote for a lesser person.

[lod001 1,237]

Not a problem....ever.

[Baker Boy 1,485]

EDITORIALS

Go Figure: Federal Revenues Hit All-Time Highs Under Trump Tax Cuts

The Treasury Department reported this week that individual income tax collections for FY 2018 totaled $1.7 trillion. That's up $14 billion from fiscal 2017, and an all-time high.
https://www.investors.com/politics/editorials/trump-tax-cuts-federal-revenues-deficits/

The Trump Tax cuts are not adding to the deficit as promised by the Left. It is the Dems spending that has alway been the problem.

[TBayXXXVII 2,117]

36 minutes ago, lod001 said:

Not a problem....ever.

I don't know.  If Jim Jordan was my Senator, I'd be pretty happy.  Not to long ago, here in NJ, I thought Frank LoBiondo was a really good politician here for a very long time.  Not saying that it's common, but it does happen.

[IGotWorms 3,315]

On 12/4/2014 at 12:30 PM, NewbieJr said:

Like I said, you'll be whistling a different tune when there's a Republican President.

Newbie is a soothsayer?!