I'll keep saying it

[pizzaman]

We have a broken goverment.

WASHINGTON – The United States has never defaulted on its debt and Democrats

and Republicans say they don't want it to happen now. But with partisan acrimony

running at fever pitch, and Democrats and Republicans so far apart on how to

tame the deficit, the unthinkable is suddenly being pondered.

The government now borrows about 42 cents of every dollar it spends. Imagine

that one day soon, the borrowing slams up against the current debt limit ceiling

of $14.3 trillion and Congress fails to raise it. The damage would ripple across

the entire economy, eventually affecting nearly every American, and rocking

global markets in the process.

A default would come if the government actually failed to fulfill a financial

obligation, including repaying a loan or interest on that loan. The government

borrows mostly by selling bonds to individuals and governments, with a promise

to pay back the amount of the bond in a certain time period and agreeing to pay

regular interest on that bond in the meantime.

Among the first directly affected would likely be money-market funds holding

government securities, banks that buy bonds directly from the Federal Reserve

and resell them to consumers, including pension and mutual funds; and the

foreign investor community, which holds nearly half of all Treasury

securities.

If the U.S. starts missing interest or principal payments, borrowers would

demand higher and higher rates on new bonds, as they did with Greece, Portugal

and other heavily indebted nations. Who wants to keep loaning money to a

deadbeat nation that can't pay its bills?

At some point, the government would have to slash spending in other areas to

make room for any further sales of Treasury bills and bonds. That could squeeze

payments to federal contractors, and eventually even affect Social Security and

other government benefit payments, as well as federal workers' paychecks.

A default would likely trigger another financial panic like the one in 2008

and plunge an economy still reeling from high joblessness and a battered housing

market back into recession. Federal Reserve Chairman Ben Bernanke calls failure

to raise the debt limit "a recovery-ending event." U.S. stock markets would

likely tank — devastating roughly half of U.S. households that own stocks,

either individually or through 401(k) type retirement programs.

Eventually, the cost of most credit would rise — from business and consumer

loans to home mortgages, auto financing and credit cards.

Continued stalemate could also further depress the value of the dollar and

challenge the greenback's status as the world's prime "reserve currency."

China and other countries that now hold about 50 percent of all U.S. Treasury

securities could start dumping them, further pushing up interest rates and

swelling the national debt. It would be a vicious cycle of higher and higher

interest rates and more and more debt.

The U.S. has long been the global standard for financial stability and

creditworthiness, with Treasury securities seen as a fail-safe investment. But

after the near-shutdown of the U.S. government and a new credit-rating report

this week questioning the country's fiscal health, Treasury bills and bonds are

losing luster.

If there is a debt limit deadlock, the government by this summer could find

itself legally unable to borrow more money to pay its bills, beginning with

interest on its debt and gradually extending to day-to-day federal operations.

At some point, the government would have to decide which bills to pay and which

to put aside.

The debt ceiling will be hit on or around May 16, the Treasury Department

says. Unlike the threatened government shutdown, the impact would start slowly,

but then build mightily until the damage would be so dire that few political

leaders or economists even want to contemplate it. The day of reckoning could

likely be delayed at least until early July with creative bookkeeping.

When the House first rejected the Bush administration's $600-billion bank

bailout in September 2008, the Dow Jones industrials went into a dizzying

778-point tailspin. A whiff of a possible similar stock market collapse came on

Monday with a sharp selloff on Wall Street when the Standard & Poors lowered

its outlook on U.S. debt to "negative" from "stable," possibly a first step

toward a possible downgrade of America's coveted AAA credit rating.

"We haven't downgraded it. We just said, if nothing happens, we may have to,"

said S&P chief economist David Wyss. He said a government default remains

uncharted territory, "which is one reason why it's not a good idea to hit the

debt ceiling."

"There's reason to worry," said Wyss. "But my best guess is that we sort of

muddle through this. Cuts will be made, they'll be too little too late, but at

least they will be enough to maintain a triple-A rating."

"It's another game of chicken. And this time there are Mack trucks going at

each other, not bumper cars. This is a biggie," said American University

political scientist James Thurber. But he predicted that, as in the past, "there

will be an accommodation. They will avoid a crash."

Investment bank J.P. Morgan Chase recently concluded that any delay in making

an interest or principal payments by the Treasury "even for a very short period

of time" would have large "long-term adverse consequences for Treasury finances

and the U.S. economy." The analysis is being circulated on Capitol Hill by

supporters of raising the debt limit.

"If anyone wants to push that button, which I think would be catastrophic and

unpredictable, I think they're crazy," JP Morgan CEO Jaime Dimon said recently

of those seeking to block raising the debt limit.

House Speaker John Boehner and most other GOP leaders agree on the need to

raise the debt limit — and don't want to be held responsible for a new financial

meltdown. Still, they want Obama to make more concessions on spending cuts than

he has done thus far. That isn't sitting well with liberal Democrats, who think

Obama has already given too much ground.

One reason the two parties can't find common ground: they can't even agree on

what's causing high deficits. Democrats mostly blame it on policies of George W.

Bush: two wars, tax cuts that continue to benefit the wealthy and an expensive

prescription drug program. Republicans see government spending as the culprit,

particularly on Obama's watch.

In fact, the main reason is the deep recession, which slashed tax revenues

and led to hundreds of billions of dollars in recession-fighting spending by

both Bush and Obama. The debt was $9 trillion in late 2007 before the start of

the Great Recession, and it's just a sliver under the $14.3 trillion limit

today.

Even though GOP leaders say they want to avoid more economic chaos, there is

a large crop of tea-party aligned Republicans threatening to refuse to raise the

cap under almost any circumstance. Polls suggest a large percentage of Americans

oppose raising the debt limit.

The debt limit has been raised ten times over the past decade. Obama voted

against Bush's debt-limit increase in 2006 as a senator, accusing Bush of "a

leadership failure." Obama recently apologized for "making what is a political

vote as opposed to doing what was important for the country."

[desimo]

Thanks to Obama America is presently in a state where we will never be out of debt apart from the RV bailing our butts out of this mess. Apart from the RV any talk of reducing the debt is really useless in that the interest on that debt would prevent it from ever being paid off or even reduced. Cutting 6 trillion over a few years would not even keep up with the level of interest. He has financially destroyed the country and keeps blaming it on Bush. Obama, grow a set of nanas and start accepting your own responsibility. And, additionally while I am on my rant, Obama was able to attend the conference on Islamic relations this weekend but I wonder if there will be the annual Easter Egg hunt on the White House lawn.

[coldwarvet]

The Repubs and Dems are simply willing accomplices to the REAL culprits - the banks that make up the Federal Reserve. The only way we will end this madness is to dissolve the Fed, and go back to a REAL USD, NOT a Federal Reserve Note.

[lotuslove]

The elite are basically putting an end to the USA and a vision of 3rd world circumstances are heading this way. In their eyes we are nothing but slaves, batteries, cargo, fuel etc.. just the same as a ship entering a harbor has to present birthing papers, so do we. I have one worry that comes along with this investment: What is the dollar going to be worth in a year or so? I am guessing that some people will hold on to a little Dinar just in case. I wish everyone luck, because ALL of us are going to need it.

RISE & RESIST

[davids11548]

Seems to me ,"and I'm probably wrong", since everyone is paying 17% taxes or more with loopholes, that a simple tax of 15% without loopholes for everyone would solve the problem in a few short years. and at the same time ,leave some money in my pocket to buy gas. But like I said , I'm probably wrong.

[pizzaman]

I don't blame any one president. Nor any particular party. This did not happen over

night by one president. We all know it and feel it.

Everywhere I go and every one I talk to agrees. It’s in the papers, it’s on the

news. So why are we the people not doing anything about it???

We complain and complain but that is as far as it goes. Our people need to take

action. REVOLT!!!

It is happening all around the world and it needs to happen here as well. It is up to

all of us to take action or there will be nothing left especially for our

youth. The burden lies greatly on there shoulders as well there future.

There are a lot of good ideas out there to solve the problems we have and our politicians

know it but do nothing in fear of political reprisal. All political terms

should be limited and we the people should vote on more issues more frequently.

If our elected officials can not agree or decide for us, then take it to the

polls and we will decide. To much time is wasted debating on the hill. Action

must be quicker if we are to salvage the future.

March on Washington in numbers so great they will have

to get the point that we are tired of the bull ****. Inundate there emails and

phones with cries of action and change. And don’t stop until real visible

change is happening. Don’t go on promises from speeches that are meant to just appease

you. Revolt till actions are better than words.

Let’s stop pointing fingers and fix it!!! If an idea of one is not in agreement with

another then let the people vote on it so as the majority will be done by the

will of its people.

Revolt and take your country back! Use your smart phones, use your computers and your constitution

as weapons. Organize so that the voices of one nation will be heard rather than

the voices of many who sound like there are just complaining. REVOLT !!!!

We the people of the United States of America will ring once again.

[Lutie]

I don't blame any one president. Nor any particular party. This did not happen over

night by one president. We all know it and feel it.

Everywhere I go and every one I talk to agrees. It’s in the papers, it’s on the

news. So why are we the people not doing anything about it??? We complain and complain but that is as far as it goes. Our people need to take

action. REVOLT!!! It is happening all around the world and it needs to happen here as well. It is up to

all of us to take action or there will be nothing left especially for our

youth. The burden lies greatly on there shoulders as well there future. There are a lot of good ideas out there to solve the problems we have and our politicians

know it but do nothing in fear of political reprisal. All political terms

should be limited and we the people should vote on more issues more frequently.

If our elected officials can not agree or decide for us, then take it to the

polls and we will decide. To much time is wasted debating on the hill. Action

must be quicker if we are to salvage the future. March on Washington in numbers so great they will have

to get the point that we are tired of the bull ****. Inundate there emails and

phones with cries of action and change. And don’t stop until real visible

change is happening. Don’t go on promises from speeches that are meant to just appease

you. Revolt till actions are better than words. Let’s stop pointing fingers and fix it!!! If an idea of one is not in agreement with

another then let the people vote on it so as the majority will be done by the

will of its people. Revolt and take your country back! Use your smart phones, use your computers and your constitution

as weapons. Organize so that the voices of one nation will be heard rather than

the voices of many who sound like there are just complaining. REVOLT !!!!

We the people of the United States of America will ring once again.

We the people have already started to rise up. You can love or hate the Tea party but they are Americans rising up. I am the mother of three and the Grandmother of 7 and I never thought i would find myself going to rallies and all the other things I have been doing the last two years to do my part to save this country for my family. In the end Obama may be the best thing that ever happened to us. He made us see what kind of a country we don't want. He made people like me get involved.

I agree rise up and be heard ! Get involved! Donate to those that you think will bring us back to some kind of sanity.

And weather Obama and his gang of Chicago thugs like it or not God will bless America !!!

Happy Easter all

[pizzaman]

President Obama has been talking taxes lately, a dangerous political game for any politician.

In his debt speech last week, Obama made clear that he favored letting some of the Bush era tax cuts expire -- meaning that taxes would go up on couples making $250,000 or more.

Republicans quickly attacked. Of course. House Speaker John Boehner called any debt reduction plan that included tax increases "unacceptable" and a "non starter".

While most Democrats have long shied away from a showdown over taxes, there is some evidence that the current fight presents a political opening for the president.

There is a widespread belief in the country that the wealthy don't pay enough in taxes. Why is the wealthy paying a lower tax rate than anyone eles? Because they create jobs?

Bogus. If you believe that then you must be wealthy. It is true to some extent that the wealthy do create jobs but the amount saved in taxes is not equal to what is invested back into the system. One knows to see that by looking at the record profits big corporations are reporting as well there outrages bonuses paid to there executives. The 5 houses they own. The ten cars and so on and so on.

A recent Gallup poll revealed that nearly six in ten people think upper income people pay don't pay their fair share.

And in a new Washington Post/ABC News poll, 72 percent said they favored raising taxes on the wealthy to balance the budget.

If Obama can keep the tax debate narrowly focused on the wealthy, he would have the public behind him.

The problem will be if Republicans are able to successfully make the case that raising taxes one anyone will weaken not strengthen the nation's struggling economy. Are you kidding me! I don't believe that raising the taxes on the wealthy is a silver bullit but it is a good start. Equal taxes for all no matter how big or small your wallet is. Period.

They've already succeeded once in out-maneuvering Obama on the issue, forcing him to back down from a similar proposal last December.

The challenge for the President will be in convincing voters that the outcome will be different this time around.

Obama is out in the country selling his debt plan and defending his tax proposal.

He knows that winning this fight on taxes and spending is critical to his chances at a second term in 2012.

Voters are worried about the country's economic future and the government's willingness and ability to tackle these big issues.

Republicans know the political stakes too, so expect a vicious political battle over the summer. Take the vote to the people. We can not afford a political battle that will end up dead up on the hill.

[coyote]

I couldn't read this bull, the reason we are in debt is there is way too much government the way to balance the budget is to get rid of all these worthless govt, positions, this shouldn't be that hard, just eliminate some positions and we start paying back the debt. I would that we, us, on dv could probably come up with a couple thousand government positions that our taxes pay for, that are completely use less

[pizzaman]

[quote

name=coyote' date='24 April 2011 - 09:22 AM' timestamp='1303654950' post='457147]

I couldn't read this bull, the reason we are in debt is there is way too much

government the way to balance the budget is to get rid of all these worthless

govt, positions, this shouldn't be that hard, just eliminate some positions and

we start paying back the debt. I would that we, us, on dv could probably come

up with a couple thousand government positions that our taxes pay for, that are

completely use less

Try not to be so

narrow minded. (No offence intended).

It is not one pill cures all. A valid statement added to a volume of potential

fixes.

Yes eliminate

needless spending. Revise the tax system. End the wars. ect. In short clean up

government

and tune it up to run smoothly. But first we must fix the government to

function correctly. It’s like having 2 opposing magnets pushing on each other.

No

particular party is better than the other. In my opinion there should be no

parties but instead one party for all. For all Americans. For the people not

for the big corporations, the banks, the drug co. the stock holders ect. We

sold our country a long time ago and we need to get it back. We sold out to the

big chain stores that have there goods made by child labor and we ignore it as

long as it saves us money to buy what we want. We depend on to much foreign

fuel sources so that we can enjoy our cars and boats and planes. I could go on

and on and on.

Our bickering between each other solves nothing and our differences or views

follow.

It going to hurt all of us in one way or another. We are all going to have to

take a big bite of **** and except it so that there is a future for all who not

even here yet.<br style="mso-special-character: line-break;">

<br style="mso-special-character: line-break;">

Edited April 24, 2011 by pizzaman

[emmet]

Another thought on taxes. When the founding fathers set up this country an American was to pay NO TAXES.

If we were to pay no taxes, who was to pay them? CORPORATIONS, thats who, but who does not pay taxes?

CORPORATIONS, they seem to have found a way to duck the obligation. Income taxes are illegal and the flat tax is just as illegal. But, most Americans have not studied early American history and they are caught up in what they learn in the public fool system. (by the way the founding fathers would not allow public schools in America, we now know why).

"If we run such [government] debts, as that we must be taxed in our meat and in our drink, in our necessaries

and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England

are, our people, like them, must come to labor sixteen hours in twenty-four, give earnings of fifteen of these

to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread,

we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers

to account; but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-suffers."

~ Thomas Jefferson

[Mongo]

Folks...........It all boils down to the MORAL condition of Mankind. when moral behavior is gone, What's left? That's why America (was) the beacon of light and hope for the rest of the world, because we took the moral hight ground. Now were no better than any third world rat hole country, and they laugh at us for being the biggest hypocrites

(A true hypocrite is the one who ceases to perceive his deception, the one who lies with sincerity)

[pizzaman]

Another thought on taxes. When the founding fathers set up this country an American was to pay NO TAXES.

If we were to pay no taxes, who was to pay them? CORPORATIONS, thats who, but who does not pay taxes?

CORPORATIONS, they seem to have found a way to duck the obligation. Income taxes are illegal and the flat tax is just as illegal. But, most Americans have not studied early American history and they are caught up in what they learn in the public fool system. (by the way the founding fathers would not allow public schools in America, we now know why).

"If we run such [government] debts, as that we must be taxed in our meat and in our drink, in our necessaries

and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England

are, our people, like them, must come to labor sixteen hours in twenty-four, give earnings of fifteen of these

to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread,

we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers

to account; but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-suffers."

~ Thomas Jefferson

I think we are missing the point. Our fathers of this country could not know our future. But never the less taxes or no taxes the goverment is non functional. I am complaining and will join my fellow man for the revolt. We need to fix goverment so that problems like taxes, debts, medical are fixed in a way that is fare to all.

[txk9popo]

Our Founding Fathers would be ashamed of what politicians have done to our country. I fear it is going to get alot worse before it gets any better. What is really a shame is that all of the sacrifices our military men and women have made for this Country, Only to have it be destroyed from within.

[pizzaman]

The Bureau of Economic Analysis (BEA), a U.S. government organization, issued a report on the 2009 expenditures of multi-national corporations, strengthening the argument that our trade policy is bankrupting the nation.

According to the report, these businesses account for 20 percent of the workforce in this country. However, in 2009, while these companies fired almost 5 percent of their U.S. workforce, they only released a little more than 1 percent of their foreign workers. To make matters worse, they also reduced capital expenditures in this nation by 20 percent.

This report, in conjunction with others released over the past decade, document a disturbing trend of outsourcing in this country. Our “free” trade agreements have paved the way for these companies to only go where the money is, as other nations utilize protectionist measures to steal away business, wealth and jobs from the U.S.

In an obsession over profits for stockholders, companies have lobbied the government through institutions such as the U.S. Chamber of Commerce to adopt trade policy that allows them to move jobs overseas and then sell goods back to the world's largest consumer market with no penalty. Because of this, the U.S. has run trade deficits each year uninterrupted since 1975, amounting to more than $475 billion last year alone.

Economists estimate that a nation loses 9,000 jobs for every $1 billion in trade deficits it runs. This report is proof of that statistic, as the U.S. continues to lose jobs due to bad trade policy that has caused these massive trade deficits.

This trend will continue unless action is taken to correct it. Last year, these companies derived more of their profits and sales from their overseas operations than here at home. Companies such as General Motors produced and sold more cars in China than in America. We must adopt trade policy so that American companies employ American workers to sell goods to the American people.

[jaminjimmy90]

I don't blame any one president. Nor any particular party. This did not happen over

night by one president. We all know it and feel it.

Everywhere I go and every one I talk to agrees. It’s in the papers, it’s on the

news. So why are we the people not doing anything about it???

We complain and complain but that is as far as it goes. Our people need to take

action. REVOLT!!!

It is happening all around the world and it needs to happen here as well. It is up to

all of us to take action or there will be nothing left especially for our

youth. The burden lies greatly on there shoulders as well there future.

There are a lot of good ideas out there to solve the problems we have and our politicians

know it but do nothing in fear of political reprisal. All political terms

should be limited and we the people should vote on more issues more frequently.

If our elected officials can not agree or decide for us, then take it to the

polls and we will decide. To much time is wasted debating on the hill. Action

must be quicker if we are to salvage the future.

March on Washington in numbers so great they will have

to get the point that we are tired of the bull ****. Inundate there emails and

phones with cries of action and change. And don’t stop until real visible

change is happening. Don’t go on promises from speeches that are meant to just appease

you. Revolt till actions are better than words.

Let’s stop pointing fingers and fix it!!! If an idea of one is not in agreement with

another then let the people vote on it so as the majority will be done by the

will of its people.

Revolt and take your country back! Use your smart phones, use your computers and your constitution

as weapons. Organize so that the voices of one nation will be heard rather than

the voices of many who sound like there are just complaining. REVOLT !!!!

We the people of the United States of America will ring once again.

actually its our fault we let them get away with this theve done it for so long that they think its ok this type of thing should be a crime yes crime these a holes aughta be in proison cause they are criminals n congress aught to have term limits they are just as guilty as the presidents that we dont impeach when they lie to us like were all stupid , well we are stupid for letting this go one year after year id say write cingress tell em to do their jobs or we willl do them hmm????

Folks...........It all boils down to the MORAL condition of Mankind. when moral behavior is gone, What's left? That's why America (was) the beacon of light and hope for the rest of the world, because we took the moral hight ground. Now were no better than any third world rat hole country, and they laugh at us for being the biggest hypocrites

(A true hypocrite is the one who ceases to perceive his deception, the one who lies with sincerity)

ya if we could get the commy progressives outa the white house wed be a beacon but im afraid theyve infiltrated our gov n we better wake up n vote or impeach cause if you look at the things they are doin were runnin outa time if wwe dont wake up one day we wont....ps i think the communist want us to revolt thats how they get us to beg for them to take more rights from us were sheep bein led around by a short rope . i think about all the people who have gave their lives so we can have freedom n all we do is sit around an get fat n *****. get of your a rses america votwe show them were tired of taken their crap . .

Edited April 24, 2011 by jaminjimmy90

[detroitjazzman]

Want to have a strong America Again? Then start by asking your representatives to live by the same laws we have to live by. They want us to make adjustments to our lifestyle, ask workers to accept pay/benefit cuts. I could be wrong on this....however, I've not seen one representative take a voluntary pay cut...Lead by example I always say. They don't even know that time are hard for a lot of folks. Go to Washington, look around Home Underwater is DC? don't think so...every administration profits on the incomning folks and they pay...just to be close to Pennsylvania Ave. Why should they change their lifestyle IF....we don't make them...VOTE......and before you give your VOTE to someone....make sure they are on your side of the issues.... Me? I don't vote Democratic, I don't Vote Republican, not the Independant or the Tea Drinkers.....I vote for the person that has my interest as a high priority on their platform, and I don't care which party they belong to!

[emmet]

There is a book that everyone should read. It is call "Vote Scam". It will show you how much good it does to vote.

"If we run such [government] debts, as that we must be taxed in our meat and in our drink, in our necessaries

and our comforts, in our labors and our amusements, for our callings and our creeds, as the people of England

are, our people, like them, must come to labor sixteen hours in twenty-four, give earnings of fifteen of these

to the government for their debts and daily expenses, and the sixteenth being insufficient to afford us bread,

we must live, as they now do, on oatmeal and potatoes, have no time to think, no means of calling the mismanagers

to account; but be glad to obtain subsistence by hiring ourselves to rivet their chains on the necks of our fellow-suffers."

~ Thomas Jefferson

[blessedman]

I hold a US "utility" patent for a utility power plant that needs no fuel, makes no pollution, consumes noithing, burns nothing, and wastes nothing. Yet never 1 cent in government funding.

Read more: http://dinarvets.com/forums/index.php?/topic/63761-ill-keep-saying-it/#ixzz1KT98JOKY

Sounds good whats the patent # would like to look it up, thanks.

RON PAUL 2012

[radar12354]

Imo, we can't afford to let the dollar collaspe..there goes our RV....think about it, if the dollar collaspes and they RV at, less say $5.00 and the dollar is worthless...what do you have? nothing.......I don't think so......there is a plan at work here we have to sit back and let it unfold........just saying..... :lol: