Jump to content

Economy just hit the fan


10phone2

Recommended Posts

  • Replies 59
  • Created
  • Last Reply

Top Posters In This Topic

Congress had years to clean this up, but choose to do this. Time they start cutting and stop spending. Congress needs to watch extreme couponing to learn a lesson in budgeting.

 

Watch as the left tries to cut military spending. Removing the entire department of defense wouldn't even make a dent in the deficit either.

Link to comment
Share on other sites

Well.... they can't raise interest rates, S&P said that is a major factor that would cause the U.S. to drop to AA from AA+.

 

In reality, the U.S. was already last in AAA rating, now they are first in AA+. I don't think this drop is really going to cause the mayhem that people want to think it will.

Link to comment
Share on other sites

Watch as the left tries to cut military spending. Removing the entire department of defense wouldn't even make a dent in the deficit either.

 

Shooting one of our major exports and national security in the foot once again. But, I bet they utilize the Clinton motto of less is better. (Until there's a major conflict....) I saw defense cuts coming, but I have a feeling it'll turn drastic. In the same token, it's about time to crack down on illegal aliens not paying taxes and punish those who employ them too. I'd hate to see the figures of illegals not paying taxes.

Link to comment
Share on other sites

Reading some of the UK papers take on this, and it is kind of funny. They pretty much call it how it is, bad politics caused all of this and it should have been avoided.

 

Shit is about to get real, wait for the nightly news tag lines...

Link to comment
Share on other sites

Reading some of the UK papers take on this, and it is kind of funny. They pretty much call it how it is, bad politics caused all of this and it should have been avoided.

 

Shit is about to get real, wait for the nightly news tag lines...

 

No doubt it being very bad politics. As the prevailing example of democracy, we're failing at it. Politicians can't get over their agendas or personal gain.

Link to comment
Share on other sites

No doubt it being very bad politics. As the prevailing example of democracy, we're failing at it. Politicians can't get over their agendas or personal gain.

 

Yes sir, one of the things I learned in my econ class: Politicians only do what is good for them in the short term for re-election in regards to the economy.

 

"Oh hai guyz lets fuck Obama and ruin his attempt to get re-elected, oh wait that might hurt the economy and the united states? FUCK IT PLAY POLITICS LIKE A BAUCE"

Link to comment
Share on other sites

I do believe that most of it is not Obama's fault. This has been building since WWII. Were Obama does take his part if the blame is not wanting more cuts and go past the demands of S&P. That would have meant cutting tree hugger programs, welfare, unemployment to normal levels, and reduce the military.....that would have got the job done and lost a ton of supporters. Big government has been used to buy votes from both parties and now it finally has hit the fan.

 

I am filling up my gas car and gas cans in the morning, because I expect gas to be back to $4 by the end of next week or two at the latest.

 

Yes, S&P does not have the best reputation.

Link to comment
Share on other sites

Shooting one of our major exports and national security in the foot once again. But, I bet they utilize the Clinton motto of less is better. (Until there's a major conflict....) I saw defense cuts coming, but I have a feeling it'll turn drastic. In the same token, it's about time to crack down on illegal aliens not paying taxes and punish those who employ them too. I'd hate to see the figures of illegals not paying taxes.

 

This graph might interest some people. I can't remember the source, it's from a policy class.

 

http://i49.photobucket.com/albums/f277/punkhott712/Picture1.png

Link to comment
Share on other sites

 

I think our (my) confusion is in between % of Income/GDP and % of the federal budget. Did you go to the wiki link?

Ya, I know, Wikipedia.... but several other sources have the same numbers.

 

Speaking to what that graph says about 'social programs' spent % of GDP; I don't know how it can be that high since the US GDP was 15T (2009) and the TOTAL federal budget was 3.5T. That's 23%. I'm sure you can figure that no single part of the federal budget is 70% of the federal budget (.16/.23).

 

You can ignore the 1st link since it's clearly very biased

Link

Link to comment
Share on other sites

This graph might interest some people. I can't remember the source, it's from a policy class.

 

http://i49.photobucket.com/albums/f277/punkhott712/Picture1.png

 

We can also link the chart to global conflict. I wouldn't so much venture it into who holds the highest political office, bit you can see trends within the political parties. Either way, the defense side of the house also collects a percentage of GDP (4% from estimates) Granted, only 3.0 to 4.4% of the GDP was spent on the Military during the Bush era. If you ask me, that's a drop in the well as far as spending is concerned.

 

Point: Cutting Defense spending won't help much, and will set us back further for future conflicts. Reason so much was spent post 9/11 was due to the large cuts during the Clinton time in Office. It doesn't benefit us staying behind the 8 ball in the Arms industry.

Link to comment
Share on other sites

I think our (my) confusion is in between % of Income/GDP and % of the federal budget. Did you go to the wiki link?

Ya, I know, Wikipedia.... but several other sources have the same numbers.

 

Speaking to what that graph says about 'social programs' spent % of GDP; I don't know how it can be that high since the US GDP was 15T (2009) and the TOTAL federal budget was 3.5T. That's 23%. I'm sure you can figure that no single part of the federal budget is 70% of the federal budget (.16/.23).

 

You can ignore the 1st link since it's clearly very biased

Link

Keep in mind that the chart I posted is GNP not GDP so that will skew the stats as GNP includes profits from outside of the US. Yes, social programs are a massive part of the federal budget.

 

Here's quick data from 2010 which obviously won't match the earlier data I posted.

 

Social programs approximate % of budget:

Social Security - 20%

Medicare/Medicaid - 21%

Safety net programs - 14%

Total from only the major programs - 55%

 

These numbers exclude the smaller social programs that sit in the single digits for percentage.

 

We can also link the chart to global conflict. I wouldn't so much venture it into who holds the highest political office, bit you can see trends within the political parties. Either way, the defense side of the house also collects a percentage of GDP (4% from estimates) Granted, only 3.0 to 4.4% of the GDP was spent on the Military during the Bush era. If you ask me, that's a drop in the well as far as spending is concerned.

 

Point: Cutting Defense spending won't help much, and will set us back further for future conflicts. Reason so much was spent post 9/11 was due to the large cuts during the Clinton time in Office. It doesn't benefit us staying behind the 8 ball in the Arms industry.

 

On that chart you can clearly see the Korean Conflict, Vietnam (leveling), Carter's "hollow army", Raegan's defense buildup, and the wars following 9/11.

Link to comment
Share on other sites

It's interesting the news media's "narrative" was default will ruin the credit rating. The great compromise passes and the markets tank and all the rating services are still "pessimistic" - it was about too much spending all along and this bill does not reduce the amount we are spending (it "cuts" the rate of increase).

 

Politicians are addicted to spending. I think the republicans are getting the message (via the tea party) to cut - but I don't think the majority of the democrats get it. For example - the very underported FAA Bill, passed by the house, ignored by the senate before they recessed. One of the main sticking points - cutting $16M in "ticket subsidies" to a dozen or so small market airports. If they can't cut $16M in airfare subsidies, can they cut out anything?

Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...