Gooo Obama! Without Borrowing, the Government Can Only Pay SIXTY PERCENT of its Bills

Discussion in 'The Bar' started by 2Manboobs, Jan 15, 2013.

  1. 2Manboobs

    2Manboobs New Member Banned User

    Reputations:
    -3
    Joined:
    Jun 11, 2012
    Messages:
    5,622
    Likes Received:
    1
    The guy does nooooothing with the economy for 4 years, yet somehow he dupes most of the country into voting for him again... That's some leader we got there!! :facepalm:




    Without Borrowing, The Government Can Only Pay 60% Of Its Bills

    Here’s a telling fact about our current budget situation: If Congress does not agree to raise the debt limit, thus making it possible for the federal government to borrow again once the current $16.4 trillion limit is hit, the federal government will only be able to pay about 60 percent of its bills.

    That’s according to the Bipartisan Policy Center, which has published an apocalypticreportin advance of the debt ceiling showdown warning of the consequences should Congress fail to raise the debt ceiling later this year.

    Forget the coming showdown for a minute and focus on the first number: The BPC report wants readers to understand how bad it would be if Congress failed to raise the debt limit. But here’s another way to think about it: Without the option to borrow, the government can only finance 60 percent of its operations and obligations in the short term. More than a third of that spending goes right onto the national credit card ........



    http://reason.com/blog/2013/01/14/without-borrowing-we-can-only-finance-60
     
    Last edited: Jan 15, 2013
  2. Xhorder

    Xhorder \m/ VIP

    Reputations:
    43,803
    Joined:
    Dec 13, 2011
    Messages:
    1,577
    Likes Received:
    545
    ...mostly because of the unfunded Iraq war started by GWB
     
  3. 2Manboobs

    2Manboobs New Member Banned User

    Reputations:
    -3
    Joined:
    Jun 11, 2012
    Messages:
    5,622
    Likes Received:
    1

    That was 4 years ago, Sweetpea ..... Such excuses are no longer valid... Bush was shitty....Obama is even shittier


    * If we average spending as a percentage of GDP under Bush from 2001 to 2009, it sums to just over 20 percent, about the historical average....If we do the same for Obama from 2010 to 2012, we get about 24 percent, quite a bit higher than the historical average.

    * If Mr. Obamas budget projections prove accurate, the National Debt will top $20 trillion in 2016, the final year of his second term. That would mean the Debt increased by 87 percent, or $9.34 trillion, during his two terms.


    http://hotair.com/archives/2012/07/30/intellectual-honesty-on-the-national-debt-part-ii/
     
  4. Dirty South

    Dirty South Large Member

    Reputations:
    267,947
    Joined:
    Jul 16, 2012
    Messages:
    24,627
    Likes Received:
    25,054
    There are times I truly think this country is doomed. China is going to literally end up owning this country.
     
  5. 2Manboobs

    2Manboobs New Member Banned User

    Reputations:
    -3
    Joined:
    Jun 11, 2012
    Messages:
    5,622
    Likes Received:
    1

    I honestly used to think that people that spoke like that were loopy .... But every day it seems to be something new... Congress & the President just continue on like they always have.. Same spending policies & same empty promises to "fix" the problem.... And the voters keep voting for the same old shitheads who continue doing the same old things....
     
  6. Gunslinger

    Gunslinger Well-Known Member

    Reputations:
    5,608
    Joined:
    Aug 24, 2010
    Messages:
    6,719
    Likes Received:
    1,122
    :facepalm:

    look at your boy's first term

    no accountability with these people
     
  7. Dirty South

    Dirty South Large Member

    Reputations:
    267,947
    Joined:
    Jul 16, 2012
    Messages:
    24,627
    Likes Received:
    25,054
    I blame both parties equally at this point.

    They're two sides to the same shitty coin, just controlled by different super-PACs.
     
    Last edited: Jan 15, 2013
  8. squigglyline

    squigglyline Double Secret Probation Gold

    Reputations:
    6,922
    Joined:
    Sep 18, 2010
    Messages:
    3,232
    Likes Received:
    1,103
    We are completely fucked. This is only the beginning.
     
  9. stripes

    stripes Active Member Banned User

    Reputations:
    76
    Joined:
    Dec 14, 2011
    Messages:
    24,560
    Likes Received:
    17
    china is in worse shape, but thats a BIG secret.
     
  10. Xhorder

    Xhorder \m/ VIP

    Reputations:
    43,803
    Joined:
    Dec 13, 2011
    Messages:
    1,577
    Likes Received:
    545
    I hate both parties equally. They all suck...

    Fuck everyone.
     
  11. Stew Nod

    Stew Nod Hello VIP

    Reputations:
    313,774
    Joined:
    Feb 9, 2012
    Messages:
    55,649
    Likes Received:
    41,346

    Yup, it's over Johnny

    "Congress should act responsibly" and raise the debt limit

    Holy fucking shit...sure...keep passing it on to your kids, jerkoffs
     
  12. tomtom

    tomtom Well-Known Member

    Reputations:
    466
    Joined:
    Sep 27, 2010
    Messages:
    19,737
    Likes Received:
    397
    Before you blame that big cost of war into the equation don't forget to reduce the cost of what it costs to run the military when there isn't a war.

    Besides, you probably think bush started the war and he wasn't just a pawn.
     
  13. Schmoopy

    Schmoopy Shit Mult Hunter

    Reputations:
    216,454
    Joined:
    Aug 25, 2010
    Messages:
    211,015
    Likes Received:
    33,726
    This country needs another revolution IMO. :ucoffee:
     
  14. Billy Brown

    Billy Brown Thinking big VIP

    Reputations:
    68,724
    Joined:
    Dec 15, 2011
    Messages:
    37,665
    Likes Received:
    5,228
    Who let Corky in?

    :facepalm:
     
  15. GHP

    GHP New Member Banned User

    Reputations:
    37
    Joined:
    Sep 2, 2010
    Messages:
    40,383
    Likes Received:
    6
    They should base the new economy on the japanese art of anime
     
  16. baltimore mike

    baltimore mike I wear panties 24/7 364

    Reputations:
    19,300
    Joined:
    Nov 17, 2010
    Messages:
    61,865
    Likes Received:
    9,791
  17. Thelonious Davis

    Thelonious Davis Magical negro.

    Reputations:
    57,366
    Joined:
    Sep 19, 2010
    Messages:
    22,253
    Likes Received:
    4,436
  18. 2Manboobs

    2Manboobs New Member Banned User

    Reputations:
    -3
    Joined:
    Jun 11, 2012
    Messages:
    5,622
    Likes Received:
    1
    I thought the same thing when I heard that ...He wants them to "act responsibly" by borrowing more money they cant afford to pay back, while simultaneously endangering Americas solvency & sovereignty further..
     
  19. 2Manboobs

    2Manboobs New Member Banned User

    Reputations:
    -3
    Joined:
    Jun 11, 2012
    Messages:
    5,622
    Likes Received:
    1


    Que?
     
  20. deidler

    deidler New Member

    Reputations:
    -3
    Joined:
    Jan 17, 2012
    Messages:
    2,630
    Likes Received:
    0
    Not his kids. His kids will be rich. I love when people believe that rich people will punish themselves with taxes. Gotta love the Oracle of Omaha saying he needs to be taxed more all the while his company owes a billion in taxes.