The Debt Bomb: A Decade of DC Spending is Driving America Closer to an Economic Apocalypse

[shotsky94]

she's hot

[PatriotsRepublic]

Ok, I want to know by what magical accounting or averaging practices are they measuring our debt to GDP??? Because when I look up our current GDP, I get 14.66 Trillion dollars, that's what our GOVERNMENT says and the debt that our government ADMITS to is 14.27 Trillion dollars as of the 14th of April. According to my non-magical math, that is 97% of GDP. The lie that we have not yet crossed the 90% threshold does not stand the test of grade school math. Are we to assume everyone is that stupid?

[joshuancts]

Downsize the military, close 1/3rd of our overseas bases, eliminate the DEA, get rid of all corporate tax loopholes, raise taxes for the upper income levels like at the beginning of the Reagan years (50%), downsize and streamline the Fed Gov and wait for the economy to fully recover. Problem solved.....

[ilikemitchhedberg]

@joshuancts In fact, military is the sole true purpose of a government, period. Every country in the world has a military, and the peace we [and the rest of the world] enjoy that came about through our military might is, indeed, priceless.

But the Dems would have you believe that without Uncle Sam, we would all starve. The truth is that government cannot create wealth; it merely redistributes. Redistribute is a nice way of saying 'steal from those who work hard and give unto leeches.

[noleftturnunstoned]

it is hilarious how Americans try to blame liberals and the left for their debt problems when they have never fully tried these social programs. Instead they come up with some half bake scheme which involves providing more social programs but never raising taxes (god forbid). this is not surprising as it seem all Americans expect more then what they pay for (think walmart). If you would actual buy only what you could afford, America. perhaps you would not waste so much money on interest.

[ozonewdb]

@noleftturnunstoned you sure are an enabler, nothing more. Twenty years ago it was shamefull to be on any form of chaity. notice I didn't say gov't program? now people walk around bragging about how much they can get from the taxpayers of this country. If you got free lunch at school you were ridiculed, now more children get free than don't. public housing is now into third generation of mostly the same families. why do better when you can be done for?

[noleftturnunstoned]

@ozonewdb I don't know if anything you said is true, but i will say that people who subsist on welfare are hardly living the good life. And I'm hardly advocating for the system that you currently have in place.

[ozonewdb]

@noleftturnunstoned my children actually attended a public school where they were the only ones that paid for their lunches. 2 out of several hundred. I was given this info from the principle when he called me and my wife into his office and literally tried to push it on us. when i asked him what kind of message that was sending to my children, he actually laughed. EBT is traded here for 60 cents on a dollar. I have no prob with a hand up, but handouts have to end! especially to illegals!

[joshuancts]

@ozonewdb Really, that's the fight you want to pick? Free lunches for children. Pathetic!

[ozonewdb]

@joshuancts whats pathetic is expecting others to take up your responsibilities! Like i said, I have no problem with a hand up, but Children go from kindegarten to graduation without ever paying for their lunches. why is it acceptable for someone else to feed your kids? LA county alone pays 1.6 BILLION in food programs for ILLEGALS. One bankrupt county, in one bankrupt state, of one bankrupt nation.

[ilikemitchhedberg]

@ozonewdb What is amazing about the whole issue is that illegals come to this country with the expressed intention of making good use of the handouts here!

[ilikemitchhedberg]

@joshuancts Hey, buddy, if you don't want to provide for your own kids, then don't have kids. Masses of [left leaning] people are having kids under the express assumption that SOMEONE ELSE WILL PAY FOR IT. It is NOT my responsibility to feed YOUR kid.

The lunches are only free to the children, but the government took from someone ELSE's lunch money in order to pay for those 'free' lunches. There ain't no such thing as a free lunch.... LITERALLY. lulz

[ilikemitchhedberg]

@noleftturnunstoned The one thing that would brighten up any welfare recipients day would be to give that guy the dignity and self-respect of having a job and providing for himself.

It may be hard to believe, but the welfare rolls itself is causing this guy to be on welfare, and it is making his life miserable because he has nothing of his own.

Trust me, watch some more of the Pajamasmedia, they want a good economy for us all, and it is time to give their viewpoints some serious consideration.

[jrsub3]

@noleftturnunstoned I love how you deride right wingers for not wanting programs and having them forced onto us, and how you start the story in the middle.

In America, the top 1% pay 40% of federal income taxes, and 71% for the top 10%. While in Europe, everyone is pegged, here the left just wants the "rich" to pay, a tactic that does not work.

Not to mention Italy/France/Portugal/UK/Austr­ia/Netherlands/Spain all have public debts at 60% of GDP or more.

[noleftturnunstoned]

@jrsub3 but what I said was that you never have fully adopted many of the social programs that you are complaining about as you never realize that in order to avoid a deficit you have to raise taxes when you increase spending. California is the perfect example, they want European style social services but won't raise taxes in order to pay for them. American public debt is @ 69.8% of your GDP and your external debt is 100.5 % of your GDP. I will have to look the other stats up.

[ilikemitchhedberg]

@noleftturnunstoned

The whole base of the Democratic party is some silly Robin Hood scenario whereby the Dems take money from the 'evil rich' and give to the 'noble poor.' This is a little short sighted.

It is easy to take a quick glance at the liberals and say, 'Wow, look at all of these wonderful social programs?' Upon closer consideration, the Libs want someone else to pay taxes to fund these silly social programs.

[Hyena62]

2 dislikes = 2 tax & spend liberals

[Brajabu74]

this is such BS. I agree that the Democratic spending is reckless. It's always been that way. What pushed this over the edge was the Republicans identity crisis (still going through it by the way). Republicans used to counteract the damage done by liberal socialists. Now they compliment them. Both parties know the ship is sinking and are only concerned with pilfering everything they can while they convince you to blame the other side. I'm abandoning this blame ship... Libertarian 2012.

[uniqueu]

- Every year for the past century, the president/party in power has increased the debt.

- "People spending money ==> Government Debt" is BS; blame GOV. spending!!!

- The problem is NOT the past "3 years", it is the past 100 years

- It is fundamentally impossible for the US gov. to cut spending or stop the deficit, ever, regardless of what party is in charge

- Since* this huge deficit hasn't caused any problems yet, it never will, so spend on!

* (Unless you count the current recession)

[usactionnewsdotcom]

Read: What Are Republicans Waiting For?

The Canary Is Dying and So Is Our Future

There Are Worse Things Than Government Shutdowns

[igotta9]

'Stop picking on social security'. Stop picking on social security? Social security pay outs exceeded social security income for the first time in 2011. The Democrats had control of both houses from 2006 to 2010 and the presidency sense 2008. Nothing to secure the future of it was done. Stop picking your nose, Harry Reed.

[SoldierCyfix]

dont fix the economy, destroy it and do it quickly so people dont have to suffer

focus on what really matters, resources.

Is there food? Yes - then people dont have to starve because they can't monetarily "afford" the food

Do you get it? we need a resource based economy not this stupid ass monopoly game

[nogivenogets1]

@SoldierCyfix "don't fix the economy, destroy it" I agree with you that "fixing" the economy will force people to be serfs to an economic system. I believe we will get a resource based economy by default. my question to those preaching a resource based economy is: are you investing in a resource based economy or are you planning to steal someone elses resources? are you invested in the means to provide food or do you plan to steal it from the farmer?

[SoldierCyfix]

@nogivenogets1 it is a valid question and my answer is this:

First off, you have to acknowledge that the resources do not belong to any one group of individuals, the resources on this planet, whatever they may be, belong to every one who inhabits it (this is not restricted to human beings); to work out this idea, the notion of "ownership" has to be erased.

to give you the blunt answer, the resources will not be taken from people forcibly, the people will give them away forcibly [continued...]

[SoldierCyfix]

@SoldierCyfix

After all, what good is the land to the farmer when nuclear war threatens to make it unusable, what good is money when it is no longer a trade commodity, what good are weapons when missiles exist that can erase entire capitals in seconds; people will volunteer all their sources and time and lives to create rebuild their world. and i think some of this may not make sense unless you take the time to imagine what will be going through the farmers mind as he jumps into the bandwagon

[SoldierCyfix]

@SoldierCyfix the conditions that are going to bring about this change are going to be so extreme i just hope that all i can do is hope that we survive the transition. right now there are minor protests, the middle east is revolting, Europe is bigging to revolt and soon the west will as well. later there may come a war over resources, a WW3, and as Peter Joseph said "This time its going to be for real" and considering the weapons we have today it may just be the end.

[nogivenogets1]

@SoldierCyfix so what you advocate is a military dictatorship where people live as serfs to a military dictator who promises to keep them safe as long as they give up freedom & property.

[SoldierCyfix]

@nogivenogets1 no, there will not be a dictator because there will be no government, and hence there will be no opportunity to gain any more power than the next guy . everything will be managed by a information gathering supercomputer that is internetwork connected to every city on the planet. this system will give us all the data we need on: where should the resources go , and what new developments have we got; what can we do to advance further

nothing more nothing less - no leadership

[nogivenogets1]

@SoldierCyfix wait a sec. you just said "in this system where everything is carefully managed" so who's doing the Managing? whoever is managing the resources will have a huge opportunity to gain power.

"managed by a information gathering supercomputer that is internetwork connected to every city on the planet"

apparently you haven't seen "the Matrix" or "Terminator"

your assuming there will be resources to allocate, who's going to gather resources without compensation?

[SoldierCyfix]

@nogivenogets1 if you consider your laptop to be the dictator of your homework then i suppose so. but a computer is unable to dictate anything, it can only suggest management ideas based on the data it gathers.

and the guys who will be working gathering recourses with no compensation are going to be machines, and they dont collect pensions.

as for the Matrix, iRobot theory of machines ruling the world...well we have computer in charge of live nuclear missiles today and no one seems to mind

[nogivenogets1]

@SoldierCyfix in this instance the computer isn't the dictator the teacher is, but your saying there won't be anybody "forcing" you to use your computer or anyone programming the computer to give you the specific information because that would lead to a government.

your theory sounds good, send me 2 of those machines. I have some yard work to be done & a car that needs fixing.

[smiledammit24]

@SoldierCyfix Hey you know what dictates resource management a whole fuckton better than a computer algorithm? Demand. You're describing a sterile fantasy environment that only exists inside your head. Any machine that determines an outcome is ultimately going to have some human controller who will inevitably predetermine the outcome by telling the machine what to prioritize. This is actually a big part of why computer generated models usually aren't reliable: the people that operate them.

[SoldierCyfix]

@smiledammit24 no its not a world inside my head, all the technologies in the venus project are not "theories" they actually exist, you just dont see them in your everyday life because they are too efficient.. (a hard concept to believe isn't it)

and yes, supply and demand does work, but since its monetarily based its flawed. as for the computer having a human controller, that cant be the case. its not the thing from iRobot- all it does is suggest where best to harvest/use the recourse

[smiledammit24]

@SoldierCyfix Whoever built the computer would be a human, correct? Not like, Raptor Jesus or something? So presumably somewhere in this computer's programing there would be flaws--flaws that prioritize the wrong things or miscalculates the best use for a particular resource. And I find this idea of no government interesting...How does the computer compel people to share resources in this manner? What if it determines one group should starve so the other can live? What are the options there?

[nogivenogets1]

@SoldierCyfix "resources do not belong to any one" if resources belong to everyone what will protect the resources from being hoarded or stripped? if everyone owns the same acre of land, what's to keep me from stripping it to burn in my fire place? which brings up another question, if everyone owned that acre of land why would I plow & plant it when I could just wait for someone else to do it & then take their crop?

[SoldierCyfix]

@nogivenogets1 well since that acre of land belongs to all of us, why would you want to destroy it? and why would you cut that land when there are recourses of wood readily available.

as John Fresco has said the hardest part of creating this system is not in its physical construction, it will be in changing the psychology of people to fit the settings. in this system where everything is carefully managed to provide for everyone equally and abundantly, there will be no need for a police state

[nogivenogets1]

@SoldierCyfix becouse I need the wood on it to keep warm & cook. where would these "recourses of wood" come from? your assuming you can get people to work without compensation or threat. "everything is carefully managed" by who? "there will be no need for a police state" of coarse there will be a need for a police state, who do you think will do the managing.

[dokholliday000]

Why has no politician mentioned the fed except a few? I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. ... You are a den of vipers and thieves. —Andrew Jackson in 1834 on closing the Second Bank

[XCritonX]

If the US defaults on its debts and goes bankrupt hopefully lenders permanently stop lending to the US. A change to the constitution that prohibits the US government borrowing money would not be a bad thing.

If all federal programs not mandated by the constitution were closed the budget could be balanced today. All US debt could be eliminated in 20 years. Maybe the founding fathers were on to something when they limited the government to a series of limited powers.

[Slipknotyk06]

@XCritonX - I'm for ending the fed but banning debt is foolish. The government must take on a small amount of debt to fulfill its obligations, otherwise the Government is forced to tax the hell out of its citizenry in order to pay for spending during bad times, and then make all times bad times.

The debt needs to be brought down by about 95%, but should not be eliminated entirely, as unforeseen circumstances dictate this could be used against us to force a default.

[marine919]

Barry takes his orders from George Soros, a man that hates America and wishes to bring us down to the level of third world countries.

[realdad32]

@marine919 Yes so whats the answer? We need to demand our lawmakers make it a crime to practice this form of economic terrorism.Which is what it is. Make Soros officialy the criminal that he is and bring him and those who assist him to justice. George Soros is far more dangerous than any muslim terrorist he should be public enemy #1

[TravistheHuman]

Wow did Brian Riedl say Democrats have no ideas? That is something I hear them say about Libertarians and Republicans, but they are talking about jobs and that is none of the government's business.

To state the obvious, Harry Reid is delusional.

[wiz9496]

We are doomed.

[givinitsome]

Obama said at 0:22 to eliminate what we don't need. You mean like the current president??

[decepticonsofnwo]

@givinitsome Before i read ur comment exactly what i thought listening to him, he is such a puppet its sickening, reading from the teleprompter like s media goon

[Hylanvahr]

So in a couple of years, Obama, or whoever gets elected, will not be able to claim any more false economic recoveries because it will no longer be achievable with 90% debt to GDP. Something will have to finally give when that day of reckoning comes. Maybe that's when D.C. will start listening to Rand Paul.

[usergently]

Masquerade!

[Shargrailar]

The budget will never be fixed as long as politicians have absolutely no responsibility for their spending and actions!.

[Daniel44125]

You guys should get Peter Schiff on

[magnusea]

Obama seems to be a hardcore spending socialist, to the very crash. :( This is horror!

[dweber66]

solution = stop spending hundreds of billions on wars and banksters! Stop skirting the real spending gorillas in the room!

[SamusVSMC]

@dweber66 Social Security/Medicare/Madeicaide are far more than the war and DoD spends.