Thanks, Bush.

I got a magic fix for social security and medicare
cut the payments in half

TADA
old shiats got us into this crap
old shiats should suffer

Does this mean my wampum based economy is a go?

Thanks, last 50 years.

NewportBarGuy: Does this mean my wampum based economy is a go?


It's an interesting idea, but I fail to see how a large, shaggy carnivore can be effectively utilized for the purpose of exchange.

Crazy government spending is what's required in times like this. No one else has money, and it does. Problem is, during the good times, the guiding philosophy has been "CUT TAXES!" instead of "direct the surplus towards repaying the debt."

Thanks again, W. What would we ever have done with all that extra money anyway?

/Keynes FTW.
//Friedman, bah.

Sybarite: NewportBarGuy: Does this mean my wampum based economy is a go?


It's an interesting idea, but I fail to see how a large, shaggy carnivore can be effectively utilized for the purpose of exchange.

The pelts have to be worth something. Plus, they can be used to keep warm until the shelter is built.

I am so glad that we have an incoming President and Congress that fixing this as priority 1.

Dancin_In_Anson: I am so glad that we have an incoming President and Congress that fixing this as priority 1.

I'm so glad the last President and his pet Congress did so much to fix the problem instead of irresponsibly making the problem worse.

Can't we just re-fi that sucker at 0%?

Meh,

1. In 10 years, institute the policy of killing anyone over 68.

2. Enslave the rich and intelligent.

3. Infect China, Japan, and any other Asian country that refuses to cancel our debt with biological weapons. I'm sure the CIA already has this in mind.

4. Give the Middle Eastern countries 5 days to comply with all our demands or we will (unilaterally with Europe) bomb them with chemical weapons, stealing the rest of their oil

5. Promote nano-technology in America along with cyborg implants. Every American should be able to kill 1000 enemy soldiers in the span of 15 seconds. Also, make sure nano-technology makes us immortal and immune to all weapons except the 69th ironic birthday glitch.

6. Combine Dino-DNA with eagle DNA to create dragons- Dragon Calvary FTW!

7. Take metamucil for all our fiber needs.

8. Realize that taking on debt right now is fine as long as we get out of the wars we are in and don't start any next time until we've paid back the debt we owe now. Also, address the rights guaranteed by Social Security and Medicare. Lastly, demand from our politicians greater fiscal responsibility, drastic cuts in defense, and more efficient creation of public resources that drastically improve the country's ability to internationally compete- much like China, Japan, and many other countries spend their public investment.

9. Demand a tax from other countries if we are going to be the international police force.

Dancin_In_Anson: I am so glad that we have an incoming President and Congress that fixing this as priority 1.

i guess it's too bad that the current administration managed to make this priority 3 or so, under the imploding economy and multiple wars. especially because when they got to washington, this was priority 1, and was already on track toward a solution.

Oh yeah

10. Mandate that advertisers spend equal time promoting the benefits of savings.

11. Mandate that credit cards limit their extensions of credit; mandate that they provide free credit counseling (if they don't already)

12. Make the more dubious styles of financial service companies illegal- ie pay day places (or at least an interest rate limit) and the JD Byrider type car places, etc...

13. Actually regulate and audit the banking industry. (And, in general, all financial services, including insurance)

14. Institute a wage maximum.

15. Break up corporate monopolies. (Including the tech ones- I'm looking at you Google)

16. If a company has true economies of scale- make them public firms.

This is what happens when you pay the minimum on your credit card balance. Let's face it, the economic "boom" of the 00s was from maxing out the country's credit cards. Worse, we don't really have anything concrete to show for it. I could understand it if we had plowed the money back into our nation's infrastructure, as an investment into our economy that would pay for itself in the coming decades, but that would've been duller than the fun we had.

Because People in power are Stupid: Thanks, Bush.

And Clinton, and Bush I, and Regan, and Carter, and Ford, and Nixon, and Johnson, and Kennedy, and Eisenhower, and Truman, and Roosevelt, and probably a few more presidents.

Sorry to bring you into reality, but the Dems are just as guilty as the GOP. The American public shares the blame for being so freaking stupid as to believe what the politicians told them.

Man, it must be weird for DIA the next 4 years where he will have to find *some* way to blame Barack for the mess created by his boy Bush.

Mark my words. He will spend the next 4 years arguing that it was really Clinton's fault, and that he never really voted for Bush because Bush is really a secret liberal.

Crosshair: And Clinton, and Bush I, and Regan, and Carter, and Ford, and Nixon, and Johnson, and Kennedy, and Eisenhower, and Truman, and Roosevelt, and probably a few more presidents.

Um, it stops at Eisenhower. He warned us about the military industrial complex and how it would lead to huge debt, unnecessary wars, and the buying and selling of political leaders.

GAT_00: I'm so glad the last President and his pet Congress did so much to fix the problem instead of irresponsibly making the problem worse.

And Obama and his almost filibuster proof Congress will do what to reduce the debt and correct this problem?

burndtdan: i guess it's too bad that the current administration managed to make this priority 3 or so, under the imploding economy and multiple wars. especially because when they got to washington, this was priority 1, and was already on track toward a solution.

ibid

Crosshair: Because People in power are Stupid: Thanks, Bush.

And Clinton, and Bush I, and Regan, and Carter, and Ford, and Nixon, and Johnson, and Kennedy, and Eisenhower, and Truman, and Roosevelt, and probably a few more presidents.

Sorry to bring you into reality, but the Dems are just as guilty as the GOP. The American public shares the blame for being so freaking stupid as to believe what the politicians told them.


Not this shiat again. Did I say Dems or GOP? No, I said Bush. sorry to offend any of the 23% Bush worshipers.

To solve this problem, Congress will tell the Fed to start printing up million dollar bills sooner or later.

Sybarite: NewportBarGuy: Does this mean my wampum based economy is a go?


It's an interesting idea, but I fail to see how a large, shaggy carnivore can be effectively utilized for the purpose of exchange.

I believe you're thinking of a Wampus.

Crosshair: Because People in power are Stupid: Thanks, Bush.

And Clinton, and Bush I, and Regan, and Carter, and Ford, and Nixon, and Johnson, and Kennedy, and Eisenhower, and Truman, and Roosevelt, and probably a few more presidents.

Sorry to bring you into reality, but the Dems are just as guilty as the GOP. The American public shares the blame for being so freaking stupid as to believe what the politicians told them.

yeah - and the best part? somehow Ron Paul is considered 'crazy'.

Sloppy Shoes:

No, Maximum wage and socialization will not fix this, but lead to smart people leaving the US, or playing dumb to get gov't cheese.

I'm not working for nothing because I'm smarter than you. I'm in favor of idiots starving to death trying to grow pizza. It solves the population problem as well.

/feelin' hot hot hot!

Dancin_In_Anson: And Obama and his almost filibuster proof Congress will do what to reduce the debt and correct this problem?

You're blaming someone who isn't in power yet for something he hasn't had a chance not to do. I'm blaming the guy who magnified the problem over the last 8 years. It's sad you can't see the difference.

Weaver95: yeah - and the best part? somehow Ron Paul is considered 'crazy'.

RON PAUL is batshiat insane for multiple reasons, not just one.

Because People in power are Stupid: No, I said Bush.

That was your problem, you started naming names for blame and decided to name only one person for blame. Bush merely exploited the 40-50 years if incrementalisim and made it very apparent that we are on the wrong track.

Your chart also conveniently ignores the fact that we have been deficit spending for the last 50 years. you scream "LOOK, LOOK, Carter ran us in the red the least as a % of GDP", as if that is something to be proud of or something that makes any difference.

I would not have such a problem if the government ran in the black during good years and only spent in the red during real economic crisis. However we have spent in the red no matter WHAT the economy is doing.

absoluteparanoia: Um, it stops at Eisenhower. He warned us about the military industrial complex and how it would lead to huge debt, unnecessary wars, and the buying and selling of political leaders.

No, it starts with FDR and unsustainable entitlements like Social Security. There are other presidents before that laid small, but important groundwork for the mess we have today, the 16th and 17th amendments just to name two examples. The 17th being the more important mistake of the two IMHO.

The 1914 Harrison Narcotic act that laid the ground work for out current war on drugs and our current choice to have a high violent crime rate is another example.

Weaver95: yeah - and the best part? somehow Ron Paul is considered 'crazy'.

Ron Pauls ideas would mean we would have to become fiscally responsible, esponsible for our actions, and not boss the world around. Not too many people like the idea of having to live within their means and not being able to boss other people around.

GAT_00: You're blaming someone who isn't in power yet for something he hasn't had a chance not to do. I'm blaming the guy who magnified the problem over the last 8 years. It's sad you can't see the difference.

I have to agree with you on that. I fully expect Obama to take us in the wrong direction, but I am at least going to wait for him to screw the pooch before flinging mud at him.

Don't shoot until you know where the target is, otherwise you're just wasting ammo.

He's got the goods.

GAT_00: You're blaming someone who isn't in power yet for something he hasn't had a chance not to do. I'm blaming the guy who magnified the problem over the last 8 years. It's sad you can't see the difference.

No, I'm not. I am wanting to know what Obama plans on doing to reduce the debt. Period. I know how Bush has spent, (LBJ would have been proud) those days are over in 17 days and I want to know what will be done to (pardon the expression) change this.

Crosshair: GAT_00: You're blaming someone who isn't in power yet for something he hasn't had a chance not to do. I'm blaming the guy who magnified the problem over the last 8 years. It's sad you can't see the difference.

I have to agree with you on that. I fully expect Obama to take us in the wrong direction, but I am at least going to wait for him to screw the pooch before flinging mud at him.

Don't shoot until you know where the target is, otherwise you're just wasting ammo.

I'm totally reporting you to the Secret Service.

Dancin_In_Anson: GAT_00: I'm so glad the last President and his pet Congress did so much to fix the problem instead of irresponsibly making the problem worse.

And Obama and his almost filibuster proof Congress will do what to reduce the debt and correct this problem?


I know right? He's had all this time to fix it and hasn't done squat. What's he waiting for, inauguration?

I believe in order to stimulate the economy, we should tax all foreigners living abroad.

It's pretty sad that Clinton had a plan to wipe out the national debt by 2020... and now it's twice as large as it was when he left office.

With Obama's plan of absolutely moronic 'stimuli', I can't expect it to get better. But... getting us out of Iraq and forcing the rich to pay their fair share of taxes again will most definitely help.

/Why does the congress not tax the shiat out of luxury items? Make everything that's essential like food, drink, and some non-luxury clothing tax-free and then tax the shiat out of luxury items.

PottyMcNugg: I know right? He's had all this time to fix it and hasn't done squat. What's he waiting for, inauguration?

What is he planning to do to reduce the debt? Does anyone here have an answer or not?

It's about time an article like this was posted! I've been worried about this for the last 8 years, specifically that so much of the budget NOW is going towards paying the interest on the debt (somewhere between 25 and 33% of every tax dollar if I'm not mistaken). Unless someone gets serious about cutting the military and entitlement budgets, this will never go away.

I asked folks on the right the following question many times in the run-up to, and during this Iraq war:

If you feel so strongly about starting/staying involved in this war, then do you support a tax increase to pay for it?

I never received an answer, ever.

jake3988: It's pretty sad that Clinton had a plan to wipe out the national debt by 2020... and now it's twice as large as it was when he left office.

With Obama's plan of absolutely moronic 'stimuli', I can't expect it to get better. But... getting us out of Iraq and forcing the rich to pay their fair share of taxes again will most definitely help.

/Why does the congress not tax the shiat out of luxury items? Make everything that's essential like food, drink, and some non-luxury clothing tax-free and then tax the shiat out of luxury items.

As long as crocs and truck nuts are considered essential I'm in!

Eddie Adams from Torrance: Can't we just re-fi that sucker at 0%?

Yeah, doesn't the government receive 0% BT credit card offers in the mail?

I think some more amoral wars are in order. Right up until you collapse.

Dancin_In_Anson: No, I'm not. I am wanting to know what Obama plans on doing to reduce the debt. Period. I know how Bush has spent, (LBJ would have been proud) those days are over in 17 days and I want to know what will be done to (pardon the expression) change this.

Why? Nothing is going to be done for the first budget, and maybe not the second. Almost everyone agrees that pulling back government spending (one of the components to balancing the budget) is a horrible idea in a recession. And it's obvious they're taking a Keynesian approach for the first year.

If you're looking for policy, don't expect it until this time next year, after the higher end bush tax cuts are expired and we figure out how much of the past 6-8 years of income is real. And that's without going into how much of overall GDP growth over the past 20+ years has been a bit inflated.

Anyone with that cartoon with the elephant breaking the vase?

Dancin_In_Anson: PottyMcNugg: I know right? He's had all this time to fix it and hasn't done squat. What's he waiting for, inauguration?

What is he planning to do to reduce the debt? Does anyone here have an answer or not?

Sure, the answers were all given during the presidential campaign, in case you hadn't been paying attention for the last 18 months or so. Unfortunately, the economy seems to have imploded recently, and all those pretty shiny things like "reinstituting PAYGO" are going to have to wait a bit.

Dancin_In_Anson: PottyMcNugg: I know right? He's had all this time to fix it and hasn't done squat. What's he waiting for, inauguration?

What is he planning to do to reduce the debt? Does anyone here have an answer or not?

For the first two years of his administration, nothing. He's been clear about that. The world economy is crashing down around our ears, and fixing that has to take priority. Government tax and spending policy is a time-tested method for stimulating the economy during tough times.

I'm a Democrat because I'm a deficit hawk. Historically, the Democrats have a much better record on fiscal responsibility than do the Republicans. That being said, I will be disappointed if the Obama administration doesn't make deficit reduction a priority when the economy recovers. But until then, I'm willing to give some leeway because of the gravity of the circumstances he faces.

Dancin_In_Anson: PottyMcNugg: I know right? He's had all this time to fix it and hasn't done squat. What's he waiting for, inauguration?

What is he planning to do to reduce the debt? Does anyone here have an answer or not?

The most I've heard is that "line by line" line.

captain_heroic44: For the first two years of his administration, nothing

Thank you.

Government tax and spending policy is a time-tested method for stimulating the economy during tough times.

Kind of like the 30's eh?

Dancin_In_Anson: captain_heroic44: For the first two years of his administration, nothing

Thank you.

Government tax and spending policy is a time-tested method for stimulating the economy during tough times.

Kind of like the 30's eh?

Or maybe, better yet, the 40's. And pretty much every recession since then, including the '80-82 recession, which Reagan broke with... tax and spending policy.

I really love politicians. Let them all burn

EZ1923

It has the power to make more money. That isn't the same as having money lying around.

absoluteparanoia: Crosshair: And Clinton, and Bush I, and Regan, and Carter, and Ford, and Nixon, and Johnson, and Kennedy, and Eisenhower, and Truman, and Roosevelt, and probably a few more presidents.

Um, it stops at Eisenhower. He warned us about the military industrial complex and how it would lead to huge debt, unnecessary wars, and the buying and selling of political leaders.

Of course, this speech was about the need to create a military-industrial complex. So yeah, he warned about it, but he also created it.

Crosshair:
Your chart also conveniently ignores the fact that we have been deficit spending for the last 50 years. you scream "LOOK, LOOK, Carter ran us in the red the least as a % of GDP", as if that is something to be proud of or something that makes any difference.

I would not have such a problem if the government ran in the black during good years and only spent in the red during real economic crisis. However we have spent in the red no matter WHAT the economy is doing.

It's actually not only good, but necessary, for the government to maintain a certain amount of debt -- federal securities form the backbone of investment. You wouldn't WANT to get rid of them.

And Clinton actually did run in the black.

No, it starts with FDR and unsustainable entitlements like Social Security.

SS is easily sustainable indefinitely, so long as:

[Average Annual Payout] * [Average Years Paid Out] <= [Average Annual Payin] * [Average Years Paid In] + [Per capita Administrative Overhead]

with the dollar amounts inflation-adjusted, of course.

If the equation is not met, it can easily be adjusted. The simplest way is to adjust the retirement age, so that the ratio of years collecting : years contributing is more favorable for the SS program. Going from 65 to 67 may be all that's necessary.

Phil Moskowitz: I think some more amoral wars are in order. Right up until you collapse.

We'll be coming for those Tar Sands and softwoods right before we collapse.

I think Quebec is bothersome. That's enough reason to take the western half of Canada, right?

Dancin_In_Anson: GAT_00: You're blaming someone who isn't in power yet for something he hasn't had a chance not to do. I'm blaming the guy who magnified the problem over the last 8 years. It's sad you can't see the difference.

No, I'm not. I am wanting to know what Obama plans on doing to reduce the debt. Period. I know how Bush has spent, (LBJ would have been proud) those days are over in 17 days and I want to know what will be done to (pardon the expression) change this.

Raising taxes on rich farkers. Duh. It's only fair, they've made out like bandits for years.