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Rearranging deck chairs on the Titanic

Discussion in 'Political Debate & Discussion' started by targus, Nov 26, 2008.

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  1. targus

    targus New Member

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    "While Obama repeatedly has said he would go over the budget line by line, his options are limited. Only about 20 percent of the federal budget is considered "discretionary" spending, with the rest devoted to defense and entitlement programs such as Social Security. Most of the discretionary funds are politically popular and go to an array of agencies, such as the Department of Transportation.

    Obama offered only one example of the kind of spending he wants to end. He cited a government report yesterday that said farmers earning more than $2.5 million annually have collected $49 million in federal subsidies over a three-year period. "If it's true, it is a prime example of the kind of waste that I intend to end as president," Obama said at a Chicago news conference.

    However, such savings are relatively small compared to a stimulus program that might cost as much as $700 billion over two years. "

    http://www.boston.com/news/politics...26/obamas_budget_cutting_options_are_limited/

    I heard on the news this morning that they want another trillion dollars for the bail out.

    To buy "toxic mortgages".

    I thought that they already got a big pile of our money to do that...

    We are in big trouble.
     
    #1 targus, Nov 26, 2008
  2. canadyjd

    canadyjd Well-Known Member

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    Every last dime is discretionary. Republicans balanced the budget in the 90's by reforming some programs and slowing the rate of the growth of the entitlement programs.

    The entitlement programs have automatic increases built into the law, with no concern where the money will come from to pay for it. In the private sector, they put you in jail for things like that; it's called a pyramid sceme.

    Don't let "experts" define what can and cannot be done.

    peace to you:praying:
     
    #2 canadyjd, Nov 26, 2008
  3. ccrobinson

    ccrobinson Active Member

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    I heard the exact opposite thing last night, that the government has no intention of buying "toxic mortgages". What I heard is that they want to buy investments that will let the government get its money back, which seems like a much better option.
     
    #3 ccrobinson, Nov 26, 2008
  4. JustChristian

    JustChristian New Member

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    We are in a terrible crisis. What most people don't understand is that there are two more waves of bad mortgage loans coming. They aren't subprime and weren't created to allow the middle class to buy housing.
     
    #4 JustChristian, Nov 26, 2008
  5. KenH

    KenH Well-Known Member

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    Yep. The next crisis will be in prime mortgages.
     
    #5 KenH, Nov 26, 2008
  6. rbell

    rbell Active Member

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    [sarcasm] And, of course, it is the responsibility of those of us who were responsible with our money to bail everyone else (many of whom were not responsible) out.

    That is, of course, until all of our money is gone... [/sarcasm]

    It is akin to, in personal finance, taking out a debt consolidation loan to pay one's credit card bills...all the while, not learning from the mistakes one made with the cards in the first place...

    We a
     
    #6 rbell, Nov 26, 2008
  7. rbell

    rbell Active Member

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    [sarcasm] And, of course, it is the responsibility of those of us who were responsible with our money to bail everyone else (many of whom were not responsible) out.

    That is, of course, until all of our money is gone... [/sarcasm]

    It is akin to, in personal finance, taking out a debt consolidation loan to pay one's credit card bills...all the while, not learning from the mistakes one made with the cards in the first place...

    We are
     
    #7 rbell, Nov 26, 2008
  8. rbell

    rbell Active Member

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    [sarcasm] And, of course, it is the responsibility of those of us who were responsible with our money to bail everyone else (many of whom were not responsible) out.

    That is, of course, until all of our money is gone... [/sarcasm]

    It is akin to, in personal finance, taking out a debt consolidation loan to pay one's credit card bills...all the while, not learning from the mistakes one made with the cards in the first place...

    We are in trouble in this country because no one cleans up their own mess anymore.
     
    #8 rbell, Nov 26, 2008
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