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What Really happened on the 'debt crises'

Discussion in 'Political Debate & Discussion' started by carpro, Aug 3, 2011.

  1. carpro

    carpro Well-Known Member

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    Spending was not cut at all and will continue to grow.

    IOW I told the wife I have decided to spend $5000 dollars on an exclusive golf trip next year, but I have now changed my mind and will "cut" my spending by 20% and only spend $4000.

    I just cut spending by 20% , but I'm still going to spend $4000 more than I did this year. Ain't it great?

    That's what just happened. This country will never see a balance budget again. :tear:
     
  2. Salty

    Salty 20,000 Posts Club
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    So you are going to spend 4 grand on your golf trip, what about all the hungary children who live in the projects that will have to go without breakfast this summer because you didnt pay your fair share of taxes? the loc
     
  3. carpro

    carpro Well-Known Member

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    On the other hand:

    I was also going to donate 10% of my earnings to the poor, but I've cut that back to 5%, a whopping 50% reduction, because of extra expenses running my business due to new govenment regulations and required spending on Obamacare.

    How's that for "fair"?:smilewinkgrin:
     
  4. blackbird

    blackbird Administrator
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    That would be fair to ME----because I know you ain't gonna earn diddly and the diddly you do earn will be taxed and then you don't have nothing to give but air!!!

    So it stands to reason that it wouldn't be fair to the poor ---- so you won't be allowed to do that this year----not until the budget is balanced!! Which in that case ----- there stands a good chance that that hot place will indeed freeze over!!!:laugh::laugh:
     
  5. HankD

    HankD Well-Known Member

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    We the people were 'snookered' (once again).

    HankD
     
  6. exscentric

    exscentric Active Member

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    My wife works in a hotbed of liberal state workers called Obamaites. They were talking about the economy and she told them that we had maxed out our credit cards, could not make payments on any of them so we were going to get another credit card so we could make payments on our other cards and buy more stuff.

    They totally got it for probably the first time, what the gov. is doing.

    Many are beginning to shun their namesake here in the liberal OR :) Probably, they will vote for him again thinking he will change but at least they are seeing some of the problem.
     
  7. Bob Alkire

    Bob Alkire New Member

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    Maybe if Senator Harry Byrd of Virginia was around today, people could hear from a Democrat who favored less government and strict fiscal accountability. He and FDR didn't see eye to eye, he tried for years to cut FDR spending. It didn't work well then either. He was a pay as you go kind of man. He didn't care for debt.
     
  8. carpro

    carpro Well-Known Member

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    Strange you should mention FDR who deliberately made the US default on it's financial obligation to pay it's bills. One of only 2 cases in history.
     
  9. billwald

    billwald New Member

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    No, nothing happened.
     
  10. abcgrad94

    abcgrad94 Active Member

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    Something happened, or is going to happen. The powers that be aren't going to let a good crisis go to waste! All this anguish and wringing of hands and hot air coming from DC about the "debt crisis" is probably a smokescreen for something else going on behind the scenes. THAT is what I'm really worried about. It's not what we see going on that bothers me so much, as what they are hiding behind it. I wouldn't be a bit surprised if all this is a set up to usher in a global currency, which will help usher in a one-world government.
     
  11. freeatlast

    freeatlast New Member

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    You are correct that we will never see a balanced budget again. In fact what we will see is a nation that has destroyed itself because of greed and political corruption brought on by complete irresponsibility which has come about because of the acceptance of immoral behavior while denying God.
    We are going to fail as a nation in the near future. The stock market is currently dropping like a rock and people are losing their shirts. If by some small chance the market makes a recovery, GET COMPLETELY OUT including all mutual funds as it will only be temporary.
     
  12. poncho

    poncho Well-Known Member

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    What seems to be going un-noticed by our learned freinds above is what really really happened during this "crisis". We were given a new form of government. A central planning commitee of 13.

    No big deal. Nothing to see here folks. Just keep playing the leftie vs rightie game, everything is fine. Keep voting demopublican.

    "Truth is in history, but history is not the truth." - Nicolás Gómez Dávila
     
    #12 poncho, Aug 4, 2011
    Last edited by a moderator: Aug 4, 2011
  13. Bob Alkire

    Bob Alkire New Member

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    How soon we forget history. First was due to the War of Northern Aggresson and then FDR made the ownership of gold illegal in the U.S. in 1933. Citizens were ordered to surrender any gold coins they owned. At the same time, the promise on our currency that it was “in gold coin payable to the bearer on demand” was repudiated. I would say it was one of the biggest thefts from its citizens our government ever done.
     
  14. HankD

    HankD Well-Known Member

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    Bob, don't forget about 1964 when all our silver coins were recalled and counterfeited in nickel-copper by the government.

    HankD
     
  15. carpro

    carpro Well-Known Member

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    :applause: Good for you.

    All this hoopla about "default for the first time in history" has been just that ...hoopla.
     
  16. carpro

    carpro Well-Known Member

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    Not on my short list of defaults, but you do have a point.

    Another is that social security checks were late in 1979, for a variety of reasons, but late, nevertheless. That's a default.
     
  17. TomVols

    TomVols New Member

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    A late payment is not a default. If you pay your mortgage on the 16th of the month, you're late. However, you have to miss a certain number, usually 4-6, to default.
     
  18. carpro

    carpro Well-Known Member

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    It's that kind of thinking that causes Americans untold debt problems and lower credit scores. Either way...

    That's not what we were being told by the debt crises fearmongerers. They were saying that making an interest payment late would be considered a default, causing a credit downgrade.

    Which is exactly what happens to individuals who can't make their payments on time.
     
  19. TomVols

    TomVols New Member

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    Lower credit scores? Yes. But late payments do not equal default. Two different things.

    Yes, the fearmongering was out of control. The "we default on Aug 4" tripe from Geithner, Obama, etc., was part and parcel of this.
     
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