ROFLMAO - "The 2009 budget deficit could be close to $2 trillion"

Discussion in 'Economics' started by The Kin, Oct 12, 2008.

  1. http://www.bloomberg.com/apps/news?pid=20601109&sid=anUDEEEP1_M0&refer=home

     
  2. TGregg

    TGregg

    A trillion here a trillion there and pretty soon we're talkin' real money.

    I hear Pelosi is asking for another "rebate" check that includes people who don't pay taxes.

    But it's Free Money! Woo hoo! Let's make it 20 grand for everybody! Tell ya what, if I was part of the next few generations, I'd be mighty POed at the massive tax burden and inflationary cycle my greedy ancestors handed me.
     
  3. It's like these people don't have children nor grandchildren... or have them and don't give a CRAP about their futures.
     
  4. clacy

    clacy

    This country will not survive unless there is a "fiscal conservative" revolution.

    We need to kick them all out.
     
  5. toc

    toc

    While the initial bail out of $700 did help in keeping the banking system afloat and credit markets liquid, it will not wipe out all the sins committed by the fiscal irresponsibility shown by both parties in the last 30 years.

    I have been calling all along, that US should adopt the Canadian model of conservative fiscal and friendly foreign policy. Alas! the philosophy of 'Land of the Free' will land us all in senseless troubles for current and future generations. In many a ways, it already has.
     
  6. Won't happen. To many on the government tit.
     
  7. Liberals abort their children.
     
  8. plugger

    plugger


    It would seem that they are indeed robbing from future generations, but they are screwing themselves even worse. 2007 marked the first year that the baby boomers started to retire and draw on Old Age Security. It only goes up from here.

    Just imagine, you are about to retire and you've just witnessed a 40% decline in the value of your retirement savings. God bless the financial planning industry for having an OVERLY AGGRESSIVE allocation of equities for everyone so that most people are overexposed.

    Now the federal government is running a $2 trillion deficit to try to keep an assset price bubble inflated (impossible) and this deficit does not involve any contingency for Old Age Security. Benefits will be cut and these same people who are "living for today" will soon be "retiring in poverty" with no government safety net. At the least the young have the opportunity and ability to work. The oldest and youngest always suffer the most in these circumstances.
     
  9. Liberals are going to be in power and they are predictable, they will throw the Old Folks off the wagon and in the USA they will provide more money for Blacks, if the Democrats lose just a fraction of the black vote in the USA they couldn't get dogcatcher jobs.

    People say the AARP will keep that from happening but probably not, the older people just aren't liberal voters so they will get the boot. It will likely be done as inflation [kills off the fixed income set] and programs for the "poor" [poor =black voters].