http://hotair.com/archives/2011/01/05/g … nt-matter/
In 2006 then senator Obama said this:
“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. Leadership means that ‘the buck stops here.’ Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership . Americans deserve better."
Yes president Obama America does deserve better unfortunately you choose to give America what it doesn't deserve crushing debt and deficits as far as the eye can see! Where you complained of a failure of leadership then and you show a lack of leadership today choosing to sit on your hands while the republicans do the hard work of actually addressing the problem that you recognized way back in 2006 and have since made much, much worse! You are a failed leader Mr. President.
When the GOP can talk about serious tax increases in the top tier, or better yet creating several brackets so that people earning a mere half- million per year are not taxed at the rate of people 'earning' 5 million and a super-hi bracket for those at over 10 million. When the GOP votes to tax financial gamblers (under the name capital gains) at the same rate as people who work for a living.. When the GOP votes to stop corporate welfare for oil giants and huge corporations like GE actually pay taxes... then we will be well on the way to balancing the budget.
The current plan Ryan proposed cuts taxes only for the top tier and eliminates Medicare. You have to be a heartless bastard indeed to pad the wallets of the rich and balance the budget on the backs of the elderly and poor.
Same half truths as ever. Medicare is not eliminated check your facts.
The label is not eliminated. The security for seniors is. You want to talk about rationing and death panels. Here it is. But the executing will be done by the private sector for the profit motive which makes it moral.
Medicare funds are block granted back to the states and god knows governors are building death camps now for the "seniors." Medicare is not eliminated. Instead of being run from a distant federal capital it will be run from a more immediate, responsive and knowledgeable location. The conditions of New York are very different than the conditions of New Mexico making New Mexico more capable of running its affairs than the federal government.
But that's okay, swallow the party line and reject reason. It will make you more comfortable to continually deny reality and delude yourself. Typical.
With out broad and deep reforms in how we continue these ill conceived New Deal and Great Society programs? They won't be available in 25 years. Reform or parish. Heck of a choice.
Obama on debt?
The government operates a debt based system. It has to borrow(create debt), just to function.
Until government properly(effectively and efficiently) spends it's money, it is always going to need the Federal Reserve Bank.
The Federal Reserve Bank is like no other. It prints money out of thin air and charges for services rendered, and unrestricted interest on the money borrowed.
Regardless of denomination, there is a set fee paid for each bill printed. How much it costs to print? Which is about $.05. It could be higher now, like $.10 per bill. Again, it makes no difference the denomination of said bill.
$.10 to make $5.00 and $.10 to make $100.00 bill. The debt owed is $105.00 + interest.
The government spends money to print money, yet grows a debt, because the money is borrowed. It even has to borrow the money it needs to pay for the printing costs of the money it borrowed.
It's utterly ridiculous.
And for that reason alone, I think Ryan's budget proposal is too modest. If we are running a $1.3 trillion budget over run than cut $1.3 trillion dollars from the budget. There is no more brutal tax for those living on a fixed income than inflation. The collapse of the dollar as the global reserve currency will result in a cataclysmic plummet in the value of the dollar and therefore catastrophic inflation - perhaps even hyperinflation. The result of hyperinflation will be devastating to the economy.
It just proves my point that the government isn't approaching the Economy properly. It continues bad move, after bad move, thinking it can compensate for each wrong move, with it's following moves.
It has constantly failed. And, it can be traced, all the way back to the inception of America.
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And what does it mean for us?
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