Thank you Bush! He did such a great job, now let's (s)elect McBush to continue Bush's fine policies. 1 Trillion spent on war benefiting no-bid contracts for his buddies 1 Trillion on bailing out his buddies on wall st. way to go Bushies!
Better check your math again. I dont mean to be rude but YES we do need a surplus to pay down the debt. by definition we need to tax more than we spend(over and beyond the interest payments which is over 11% of our current budget) to be able to pay down the debt. By my understanding that means we will have to tax people in the future more than we spend in the future to be able to lower the total interest we are paying. Of course that should be easy in the future with medicare and medicaid about to blow up. To add to the fun we have SS trust fund going negative cash flow in 10-12 years.
For those like me who are surprised that the $10 trillion mark has been eclipsed so soon, it looks like what happened was a huge jump in the last few months. It was increasing at a $450 to $550 billion per year clip until just recently. Its increased by over $1 trillion since this time last year. This number doesn't include the big $850 billion bailout just passed, btw. I'd think that will take us over $11 trillion when its spent. I wonder just how high it has to go before other countries balk at lending us an additional $3 billion each day? Or how long before the credit rating agencies notice that McD's and Exxon credit default swaps appear to be safer than the US government's
move along sheep if you think Obama will correct this problem. He is upfront and honest that he has every intention of spending more money. As Jim Rogers said a pox on both their houses. A split government would at least entail inaction which is a good thing. I think the Obama presidency will arrive just in time to accelerate Ameri"tanic" into the iceberg.
yes of course. we need more of Bush croynism and incompetence. What was I thinking, that must be the solution. Appointing more incompetents and cronys into the regulatory boards should do the trick. Who needs to follow the law when you give Bush 100K donations? Let's have more govt. and even massive deficits. Heck, someone who has difficulty speaking in multi-syllables and has a history of rampant cronysim should solve the problem. Palin for president. Who needs a competent and honest govt.
we should have a law that mandates US president to balance budget or propose a balanced budget during his term in office. economic security is as important as national security! this type of discipline will impose rules on the president from resckless spending sprees ; yes, Reagan was a good president but as for playing the role of America CEO, he also bankrupted America, judging from financial standpoint, nothing was great about him, and president Bush is also in the same boat!!! never vote for an amature into office. They just play the game of politics than running a country.
President is elected every 4 years. A significant part of Congress is up every 2 years. It's clear from their actions at the ballot box that American voters simply do not care about fiscal responsibility at the federal level.
the reps ran mccain and added palin to insure there loss,they stole the mansion and left the outhouse and the nomination for the dem's,when the shit hits the fan,the blame will go to obama as the pres who took us down,that should be good for another 200 years of black jokes