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(CNN)   US Government to borrow another half trillion dollars, raises debt limit   ( divider line
    More: Stupid  
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3554 clicks; posted to Main » on 01 Jul 2002 at 11:35 PM (15 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»

129 Comments     (+0 »)

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2002-07-02 12:40:47 AM  
Economics is hard. 1+1 = 6.
2002-07-02 12:41:04 AM  
It's all good, guys.
2002-07-02 12:43:58 AM  
07-02-02 12:41:04 AM Bootdog
It's all good, guys.

Yeah except the value of all the mineral/ore/material in the earth is worth on the order of 10s of trillions and we're getting there kinda fast... and Japan underwrote 1/3 of our treasury bonds... and NextCard is trading for cents on the dollar.... yeah everything's just peachy.
2002-07-02 12:54:13 AM  
Sweet Economy
Damn Republicans Hurt You
Bleak Like Cold Winter

Economy Sucks
Must Be The Democrats Fault
Search For Scandal Fast
2002-07-02 12:56:09 AM  
Oh, and that $300 tax refund? That was a forward on your 2001 tax return. Hahahahah!! Sap.

Yep. Welcome to Dick Cheney's America. Want deficit spending and ass wiping of the constitution? Vote GOP!
2002-07-02 12:58:06 AM  
Skallas, you forgot to add right-wing fundie theocracy, and appointment of "common sense judges" who "recognize the almighty power of the creator"
2002-07-02 12:58:19 AM  
Well, golly gee, then. If the current economic problems are actually from Clinton's reign, due to the artificial boom in the stock market, then we can MOST DIRECTLY blame the current administration for that.

At the time the GOP controlled senate was taking all the credit. Funny how quiet they are now.
2002-07-02 01:01:52 AM  
And that monster tax cut for the rich is just doing so much to stimulate the economy...

The worst part about this all, is that enough of my fellow Americans are stupid enough to vote for Bush again next election simply because he was in office during a terrorist attack.

So is it Ironic or Obvious that everything Gore said would happen has happened?
2002-07-02 01:01:53 AM  
Only after saying that Clinton's plan would bankrupt the country (which they also said about Gore's plan), and then after seeing how it worked out accrediting it to Reagan, Skallas. I guess some people can't get out of the McCarthy era - I hear Republicans can only be delivered by a specialty doctor the GOP trains.

Once the child is ripped from the womb, the doctor says "yet another soldier in the fight against Communism!" and stares blankly into thin air for a few seconds.
2002-07-02 01:02:07 AM  
theres a serious chance that the US will default on its debts in the next 10-20 years.
2002-07-02 01:03:37 AM  
I wouldn't count on that, Thornhill. Even a sect of Freepers are thinking of voting for another party next term if he chooses to run. For various reasons ranging from "too liberal" (ha), to being a shiat-poor leader.
2002-07-02 01:05:18 AM  
surprised? naw

just dont complain too loud, you might be labeled a terrorist and arrested.
2002-07-02 01:10:11 AM  
Whew! Good to December...after that, hey who knows? Default, de-schmalt. What's the worst that could happen? A complete collapse of the world economy? Pishaa!

2002-07-02 01:11:10 AM  
07-01-02 11:54:54 PM Lorelle
Why is anyone surprised? Most of us knew this would happen the day the Supreme Court decided to put two drunk-driving idiots in charge of running this country.

I've got nothing to add.
2002-07-02 01:13:19 AM  

All he has to do is say that his homeland security office saved the Statue of Liberty, or simply go to war with Iraq and half this country will be voting for him again. While the Democratic nominee should win PA, he's going to have a tough time getting New York's vote. No matter how much Bush screws things up, Giuliani's has that state locked up for him. This means the Democrats have to win Florida and take a lot of smaller states away from Bush.
2002-07-02 01:14:23 AM  
Bush is working on getting approval for the next election as we speak, starting with how he's currently dealing with Arafat. Sneaky little incumbent.
2002-07-02 01:24:25 AM  
Easy My Son,

Bush is going to get no where with the middle east peace process simply because both sides won't listen to him and unless he backs their side 100%. While he may be calling for Arafat to leave office, it's going to take more than an election to get him out.
2002-07-02 01:25:31 AM  
A lot of things can change in two years, Thornhill. However the whole war with Iraq thing is the most likely next step. That an curtailing a lot more of the rights and freedoms that we hold dear. The current administration doesn't want to win a war, they want to fight a neverending war, which keeps us on a "war footing" indefinitely. Draws our attention away from internal problems, increases productivity, keeps the current regime in power. Simple. Now, we'll see if it's effective
2002-07-02 01:29:09 AM  
Bush won't start a war with Iraq until around 8 months before re-election. Then he can issue a press release that has unconfirmed reports indicating that terrorists may have once talked about considering the Statue of Liberty as a possible target. Then it says that without the valiant efforts of Bush and crew, the Statue would be long gone.

Enter Bush stage left for second term please...
2002-07-02 01:30:29 AM  
Seems our government has learned well from its sponsors.

Let's see... Enron, Worldcom, Xerox...

Yeah, that makes sense.

~ Pinky ~
2002-07-02 01:33:13 AM  
Why do they spend this kind of money and then BLOW UP A FREAKING WEDDING PARTY IN AFGHANISTAN!!???

Oh, now I am pissed...
2002-07-02 01:35:43 AM  
What's worse - the fact that Bush is a complete moron and hypocrite (not unlike most politicians), or that he will be remembered as some sort of hero like Reagan?

Thornhill: Probably, but his administration will be infested with mostly true conspiracy theories... like it currently is. Oops, guess that wasn't a good argument on my behalf :)
2002-07-02 01:37:32 AM  
why aren't we spending money on our schools and socializing medicine? where are the actual benefits FOR THE PEOPLE? someone earlier mentioned Enronomics and I have to agree, that's the first thing that came to my mind. bush has got many links to them and his previous business dealings were all equally shady, failing in the end, going bankrupt or being bought, and ending up profitable for him. since this guy got "voted" into office our great country has gone to shiat.

what are we going to do with all the inflation that's coming? the dollar is already on the drop, now we're going to further devalue our currency while not serving anyone but the higher ups in the government. we're going to end up like argentina before 2010 guaranteed if this continues. a second (third? hello again poppa bush) term is going to fark us and the democrats haven't been looking much better.

hey, so who thought star wars was a good idea to throw huge green gobs of money at THIS TIME AROUND?
2002-07-02 01:38:22 AM  
We have to stop voting for people, and start voting for computers. Admit it: given the choice, you'd all like to be spooning DeepBlue. Only DeepBlue can be the big spoon.
2002-07-02 01:39:31 AM  
if only we taxed large corperations the same way the the average person is - there would be no deficit- and very little tax for the rest of us
2002-07-02 01:41:02 AM  
The Democrats announced today that they are changing their party name to "Clarabell."
2002-07-02 01:41:21 AM  

It is very funny that under Bush capitalism has self-destructed.


I agree with your prediction of the future.


The current administration doesn't want to win a war, they want to fight a neverending war, which keeps us on a "war footing" indefinitely.

Exactly, this is their new Cold War.
2002-07-02 01:41:41 AM  
They even bought a bonnet.
2002-07-02 01:45:27 AM  
So much crying, so little Kleenex.
2002-07-02 01:46:02 AM  
Lovedoctor223 and Smokalotapotamus,

Don't forget that Corporate America receives 3x more welfare (bail out money) than American citizens do through social programs.
2002-07-02 01:49:32 AM  
Fifthcolumn: Reagan was remembered as a hero? I don't recall that.
2002-07-02 01:51:05 AM  

Our right-wing friends not only think that he was one of the great presidents, but that he was responsible for the economic boom in the '90s.
2002-07-02 01:51:38 AM  
To the Republicans who shout about it whenever they can. You'd think the "poor minority" wouldn't be able to have their biatching broadcast so much, eh?
2002-07-02 01:54:39 AM  
What did America expect with Forrest Bush in the White House?
2002-07-02 01:58:26 AM  
I wish I could do the same????????? How come I can't???????

Gee I don't feel like watching my budget this year so I will just give myself extra credit so I can continue NOT to watch my spending limits.

Friggin irresponsible Republicans!


Pay down the debt you IDIOTS!
2002-07-02 02:01:26 AM  
Nice to see what we're doing with that nasty surplus the Clinton administration left us with.
2002-07-02 02:06:03 AM  
You poor bastards can stay here and watch the fallout. I'm going to move to another country soon as possible.

As my Government professor stated so eloquently, the Bush presidency will stress-test the sociologists' theories that the American government cannot be broken by the actions of one administration alone.
2002-07-02 02:14:11 AM  

can't we just get rid of the Federal Reserve and make a new Federal Reserve to solve some of this? :)
2002-07-02 02:14:49 AM  
People were saying the same damn things during Clinton, Bush 1, Reagan, Carter, Ford, Nixon, Johnson, Kennedy, Eisenhower, Truman, FDR, Hoover, Coolidge, Harding, Wilson, Taft, TR and on and on and on.

All is lost, all is doom, there is no hope, the future is bleak and scary an on and on and on.

Well, I know who didn't play dodgeball.
2002-07-02 03:33:53 AM  
One good thing about Clinton is that he delivered on his promised balanced budget platform. Not many politicians do what they say they would when they campaign. How he balanced the budget made textbook macroeconomic sense, and I know a couple professors who pointed it as an example in their course.

I personally don't give a rats ass about the budget or spending though since it only indirectly affects my life in ways I can't even tell for better or worse.
2002-07-02 04:22:50 AM  
The ruling elites take care of each other. The tax free interest from loaning the feds money only benefits those in the high tax rates.

Some pundits believe that the government purposefully borrows to assist the rich who need to put their money in a tax-free income producer.

Since the stock market appears to be on a long-term downswing the Shrub had to help out his class of people.
2002-07-02 05:33:43 AM  
Ya'll DO realize somebody has to PAY for the obscene farmland payoffs of last month, and the coming payoffs of EVERY close mid-term election?

You don't REALLY think the GOP is gonna let the DNC "swipe" the House or Senate, without throwing HUGE gobs of cash around to try and stop it...?

Come on people, I had FAITH in you!
2002-07-02 05:41:58 AM  
once again... WHO ARE THEY BORROWING THE MONEY FROM? I mean directly. They're not just printing new money for themselves, so where's it coming from?
2002-07-02 06:00:34 AM  
the gov't is borrowing money from drug dealers. Its a great way to launder that kind of money. Really.
2002-07-02 06:06:43 AM  
Andwarf: The government is borrowing money from people who buy government bonds.
2002-07-02 06:37:36 AM  
Democracy is the only system of goverment whereby the people get the rulers they deserve...

Anyone remember who said that originally?
2002-07-02 07:29:01 AM  
[image from too old to be available]
2002-07-02 07:35:58 AM  
They are probably borrowing money from government bonds and the world bank.

What I'm very surprised about is that hardly anyone here is defending this, and that is in my books a good thing. People are finaly starting to think about what their government is doing instead of just accepting it.
2002-07-02 08:14:17 AM  
07-02-02 12:06:02 AM fark.You

American capitalism is a house of cards built on a foundation of lies, greed, and corruption.

That must explain why Communism collapsed in the Soviet Union, eh?
2002-07-02 08:15:36 AM  
07-02-02 12:21:16 AM JWest
Seems we're only going down the drain ONLY when there's a Republican asministration.

You're evidently too young to remember what things were like under Jimmy Carter.
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