The Most Fiscally Irresponsible Government in U.S. History

Discussion in 'Politics' started by carpro, Aug 27, 2010.

  1. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,897
    Likes Received:
    294
    http://politics.usnews.com/opinion/...nsible-government-in-us-history.html?PageNr=1

    The Most Fiscally Irresponsible Government in U.S. History
    Current federal budget trends are capable of destroying this country

    By Mortimer B. Zuckerman
    Posted: August 26, 2010

    There is an instinctive conclusion among the American public that President Obama's stimulus package has failed to create a sustained recovery. Unemployment has increased, not declined; consumers have retrenched; housing starts have crashed along with mortgage applications; and there is a fear that a double-dip recession may very well be in the pipeline. The public perception, reflected in Pew Research/National Journal polls, is that the measures to combat the Great Recession have mostly helped large banks and financial institutions, and that's a view common to Republicans (75 percent) and Democrats (73 percent). Only one third of either political leaning thinks government policies have done a great deal or a fair amount for the poor.

    There is another instinctive conclusion among the American people. It is that the national deficit, and the debts we have accumulated, are of critical political importance. On the national debt, the money the government has spent without the tax revenues to pay for it has produced mind-numbing numbers so large as to be disconnected from reality. Zeros from here to infinity. The sums are hard to describe; it is hard to describe an elephant, but you know one when you see one. The public knows that, shuffle the numbers as you may, the level of debt is unsustainable.
     
  2. HankD

    HankD
    Expand Collapse
    Well-Known Member

    Joined:
    May 14, 2001
    Messages:
    15,137
    Likes Received:
    320
    It's Bush's fault.

    HankD
     
  3. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    Add we were disappointed in the Republican lack of fiscal responsibility!! :rolleyes:
     
  4. Robert Snow

    Robert Snow
    Expand Collapse
    New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    0
    Yes we were!
     
  5. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    We thought that we knew what fiscal irresponsibility was when the Republicans were in charge...

    Little did we know !!!

    I don't see how we are ever going to get out of the hole that Obama and the Democrats are digging for us.
     
  6. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    Don't worry, the US middle class is being destroyed according to plan. When you all finally realize you are working people it will be to late because the manufacturing jobs will all be in China. But you all will be happy and contented because the bread lines will not be unionized.
     
  7. targus

    targus
    Expand Collapse
    New Member

    Joined:
    Feb 10, 2008
    Messages:
    8,459
    Likes Received:
    0
    And neither will the guys who are going to be building your house.

    Why do you give lip service to unions - but don't put your money where your mouth is?
     
  8. rbell

    rbell
    Expand Collapse
    Active Member

    Joined:
    Jan 16, 2006
    Messages:
    11,103
    Likes Received:
    0
    Well, you guys wrecked Michigan. I guess it was only natural for you to want to do the other 49.
     
  9. Robert Snow

    Robert Snow
    Expand Collapse
    New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    0
    Well I guess that sums it up. All the economic problems we face today can be traced back to the "evil" unions in Detroit. :BangHead:

    Of course corporate greed has nothing to do with it, nor does our exporting our manufacturing base to countries like China; it's all the "evil" unions thugs fault! :laugh:
     
  10. Ruiz

    Ruiz
    Expand Collapse
    New Member

    Joined:
    Jun 9, 2010
    Messages:
    2,021
    Likes Received:
    0
    Who is to blame?

    Bush was the most fiscally irresponsible President in history... that is until Obama.

    Was there big corporate greed? Yes and both Obama and Bush awarded corporate greed with handouts. Thanks guys for giving to big businesses who were greedy and sticking it to the small businesses. Bush handed out his billions, Obama has handed out his tens of billions.

    Unions, most of them are big corporations that are greedy just as big corporations. They take money from their membership to intimidate businesses and to protect the guilty. They reward longevity over hard work. They are just as greedy as big Wall Street firms but more politically active thus a better Public Relations campaign. What a shame they are more focused on PR than righteousness.

    Was there big Government greed and immorality? Yes! Big businesses and Unions look to be saints in comparison to the immoral and irresponsible actions of our government, which has led to this problem and will probably lead to a second recessionary dip.

    Stop rewarding big business, unions, and big government. Get government out of the business of business. Stop Corporate welfare, union welfare, and an irresponsible government.
     
    #10 Ruiz, Aug 28, 2010
    Last edited by a moderator: Aug 28, 2010
  11. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,926
    Likes Received:
    95
    Yes folks, both Bush & Obama have allot of blood on their hands but Barry is the guy in charge right now & its his responsibility to pull us out of the ditch. I complement Carpro for continuing to provide these articles because it does raise awareness. However I am frightened that we are moving into a depression & rather quickly. From a macroeconomic perspective we have 3 legs

    1. Fiscal (2) Monetary (3) Exchange rate

    Yes we can step up the printing of money & try to keep interests rates low .....So Id give them a B Grade, but in assuring currency exchange rates to reflect underlying cost competitiveness & returns on capital...They get a big fat F.

    The dollar is overvalued against the yuan & China's currency market manipulation is now the policy in Asia. So, all our capital goes to them & little comes to these shores. You go broke that way

    Ive also said this before.....you also kill what Americans have always prided themselves on.....Innovation. Do you think Microsoft would have happened if Xerox & IBM had been Chinese companies?
    The simple answer is no. No because Chinese companies would never have funded the R&D to create MS. So, our Yankee Ingenuity & Innovation leaves our shores slowly in the shadows of International Corporations & thats what made us unique in the 1st place. Nice huh!

    If Obama & Company do not realize the problem & take initiatives to respond to these problems (sooner better than later) we are all in deep stuff.
     
  12. carpro

    carpro
    Expand Collapse
    Well-Known Member

    Joined:
    Oct 14, 2004
    Messages:
    20,897
    Likes Received:
    294
    I've said it before. Obama is a socialist ideologue. He is incapable of understanding the economic engine that runs the U.S. economy.

    That being said... even if he did understand, being an ideologue...he is incapable of doing the things necessary to correct the problems.

    He will continue to make them worse.
     
  13. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,926
    Likes Received:
    95
    Then he or his Staff officiating financial decisions need to be removed from office before something disastrous happens. Period

    I speak to lots of people downtown Wall Street & they are giving predictions of 6-12 months for depression. That is frighting. As they say in the USMC.....we are in a world of S____!
     
    #13 Earth Wind and Fire, Aug 28, 2010
    Last edited by a moderator: Aug 28, 2010
  14. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,926
    Likes Received:
    95
    Has anyone been following the GM going Public saga? I know that several weeks ago, Barry announced it would happen but I haven't seen or heard anything?

    If they are still paying about $40 am hour more per person for labor than do the North American arms of Honda & Toyota, good luck selling that stock?
     
  15. billwald

    billwald
    Expand Collapse
    Banned

    Joined:
    Jun 28, 2000
    Messages:
    11,414
    Likes Received:
    0
    Thanks to union contracts, during the post WW2 middle class bubble, the working class including scabs got 80% of the net increased productivity. The middle class bubble started to deflate when our owners realized they could keep the 80% by sending jobs off shore. GM stock will sell BECAUSE the jobs are going off shore and new hires are NOT getting the wages that made the bubble possible.
     
  16. Robert Snow

    Robert Snow
    Expand Collapse
    New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    0
    It will never happen. It's a pipe dream!
     
  17. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,926
    Likes Received:
    95
    So unemployment still is the watchword of the day. Fantastic!
     
  18. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,926
    Likes Received:
    95
    I dont know Robert.... with unemployment continuing to rise & those who were on it being thrown off, having to face foreclosure & file for welfare, the people could rise in revolt eventually. See, what he is doing is helping to bankrupt the country by not taking action. Whether Obama is an idealist or whatever, he is pledged to uphold the Constitution & the American way of life. If he fails to do this he could well be impeached & thrown out of office. I would rather see him act responsibly to patch up the holes ... we can be at 20% Registered Unemployment in 6 months. That would be catastrophic & force the issue. Hope it doesnt come to that:praying:
     
  19. Robert Snow

    Robert Snow
    Expand Collapse
    New Member

    Joined:
    Mar 9, 2009
    Messages:
    4,466
    Likes Received:
    0
    I don't think it matters if President Obama finishes his first term, is elected to serve a second term or if a republican replaces him. Both parties are owned by the ultra-wealthy. They pull the strings. Politicians live by greed and ultimately serve those you pay them the most.
     
  20. Earth Wind and Fire

    Earth Wind and Fire
    Expand Collapse
    Well-Known Member

    Joined:
    Jun 5, 2010
    Messages:
    18,926
    Likes Received:
    95
    That is why I consider them Corporate Communists....see definition below:


    Corporate Communists not only voted for billion dollar bailouts for companies that were about to fail due to their own terrible decisions, but then subsequently have done nothing to prevent the ongoing and future theft. By destroying this very tenant of capitalism -- that the losers actually lose so that new ideas, people, companies can become winners -- they have now crippled our economy and kept millions out of work.

    You handle them by firing them. Perhaps you put in an Independent or a Libertarian & break the back of the 2 party system.
     

Share This Page

Loading...