$1,000,000,000,000+ Deficit

The U.S. federal budget deficit broke through the $1 trillion mark in June, potentially complicating the Obama administration's efforts to revive the economy and enact its longer-term policy agenda.

The New "Change you can believe in":

One
Big
Anal
Mistake
America

As I post this our President is in St. Louis. . .maybe trying out for a new line of work come 2012 (or sooner). . .of course only one TelePrompter was able to make the Trip (may the other one R.I.P.)

 

What is your economic prediction? In many news articles I've read lately, it says things will get better from here, further suggesting that we are over the worst of it, even though unemployment will continue to rise through the beginning of 2010. Do you believe that? If you visit the "United States Heading towards a Depression" thread, many people that seem to understand the economy are not NEAR as optimistic. Not even close. Hope for the best, expect the worst?

 

My short term (depending on your financial situation/condition and your perception of time) "economic prediction" is, much worse before better; my long term "economic prediction" is the same, but multiplied.
When government attempts, and is asked/begged, to do what government was never designed and/or purposed to do, chaos is sure to eventually follow---sooner or later. And at the risk of seeming very and/or overly pessimistic, while I surely "Hope for the best, expect the worst", but when you have a bunch of Humpty Dumpty people coming up with a bunch of Humpty Dumpty solutions to Humpty Dumpty problems, crating and causing even more and worse Humpty Dumpty problems, chaos, and blindness, I see it as, to borrow some lyrics from a couple of golden oldies by The Temptations, regarding this "world's order",aka, "Change you can believe in", "Determination is fading fast, inspiration is a thing of the past; Can't see how my hope gonna last, because good things are bad, and what's happy is sad..." Why? Because, it has become "A ball of confusion. . .that's what the world is today. . .(all the while, as Melvin Franklin would, so elegantly and matter of factly, would bass in with:) And the band played on."

 

I knew I read it somewhere, here ya go...

In the history of the US, we have never been this deep in debt. That's unfortunate, for many reasons. Not just that we have to pay it back, but that debt can influence our political policies. "A ball of confusion. . .that's what the world is today. ." Absolutely agree!.

 

We are going for the all time record this year of a $2 trillion deficit.

 

With all the History Obama has made thus far, the likelihood of him getting us there is very good;
I bought this new button yesterday, that poses the question,

"So, how's this whole 'hopey-changey' thing working out for you?"​

I plan to start wearing it today. There are a lot of ticked-off folks here in Michigan. . .who voted for Obama;
Btw, St. Louis is not the only place that he got "booed"; He'd been here, in Michigan, earlier in the day and was noticeably "booed" here as well. So by the time he got to the All-Star game, he should have been used to it. . .me thinks a trend is developing.

Some white folks need to learn that you don't vote a black man, with no experience whatsoever, into the Highest office of the land, just to prove to some of your black friends that you're not racist and/or a bigot.
Some black folks need to learn that you don't vote a black man, with no experience whatsoever, into the Highest office of the land, just because he's black (or a reasonable facsimile).
And it seems that we all need to learn that "race" is about skin color. . .nothing more, nothing less.

 

That was a pretty good post there Nehemiah.

I'm amazed that you've actually heard some people that voted for Obama admit they think they were wrong or are angry at how their choice is turning out. I have yet to come across one that will admit their mistake. You can tell in their tone and their skirting that they do realize, but people will do just about anything to avoid admitting mistakes.

So for right now, it's kinda like bigfoot for me. People have said they have seen it, but I have never come across it myself.

 

You know you live in America when there's a $1,000,000,000,000+ Deficit. Welcome to the promise land, where promises are just promises.

 

No president in our history as a nation has spent more, or as much as fast. Now that there Change you can believe in!

 

Can't
Read
Another
Post

 

Bush's fault!

 

That's getting a bit old now. What about the Buck stops here. Obama is in office now, the responsibility and blame falls on him.

 

Gee, I thought you guys did not blame Republicans

Anything bad? Bush's fault.
Anything good? Obama saves the day.

 

I seem to remember bailouts starting under George the Second.

 

I hear Louis XVI is no longer a fan, either.

 

Pretty much. Remember that under Clinton we had a surplus. Went away first year of Bush #2.

 

Surplus hit when Reganomics finally paid off. Clinton put in place what would later contribute to a decline of the surplus. However, it was under George the Second that we began our wonderful little romp across the deserts of the east.

 

We only had a surplus for 3 years under Clinton not 8 and we also had a surplus for the first year under Bush, then the recession and wars hit

 

Even more interesting:



Now we are back to total Democrat control and the deficits are higher than they've ever been. Nice job guys!

 

Barack Obama is a moron who doesn't understand basic economics, I voted for him because he seemed a better choice than McCain, and I originally voted for Ron Paul at my state Caucus. Of course, Americans as a whole are too stupid to have voted for Ron Paul, and we deserve what we get, which will possibly be hyperinflation and a financial collapse. I no longer consider this to be a recession, it is a Depression as I've always said it would be, if it was a recession it should have ended months ago, unemployment according to Ron Paul is 20%, the Great Depression was 25%, so that gives you an idea of how bad things are going to get. Silver and gold are still cheap, buy it while you still can!

America doesn't deserve Ron Paul, it deserves exactly what it has......................a socialist who is going to cause the country to collapse like the former Soviet Union.

You guys shouldn't be too hard on Obama, after all, we had eight years of Bush and then Clinton before that, many of the previous administrations have contributed to the problems America has today. Of course Americans, who have a short term memory, will blame the man who is currently in office. Obama definitely isn't making things easier with his "we can spend our way out of this mess" mentality. Spending your way out of a bad financial situation has never worked, and it never will. Countries and families are no different, when they both fall on hard times, the smartest strategy is to conserve resources and get rid of excess debt. What part of this doesn't Obama understand?

The solutions that America needs are easy to see, if I were president I could fix the problem. Shut down the Fed, let gold and silver circulate as money, and begin the arrest of all these government and Wall Street crooks that are behind it. Getting rid of the income tax, closing all our bases overseas, and bringing the troops home would save hundreds of millions per year. Combine this with the eradication of social security, welfare, and all these social programs, and America would return to its glory days. Foreign countries would be rushing back here to invest, small time entrepreneurs could build their businesses, and prosperity would be available for virtually anyone.

I've never went to an Ivy League school like Obama, and yet I understand all this...............why doesn't he? The answer is because he is not a real man, he is a shell of a man, a puppet who is following orders from the people who "really" run the U.S., so expect things to get worse with him in office.

Unfortunately, when the U.S. finally does collapse, which is inevitable, our first Black president will get all the blame, and the entire world will then see Black leaders as being incompetent.......I suspect this is why he was voted into office in the first place, I mean, who really wants to be president with all the mess Bush left behind?

A $2 trillion deficit is nothing compared to the total cost of bail outs, which are like $24 trillion. Throw in social security and the other unfunded liabilities America has, you are looking somewhere in the neighborhood of $100 trillion, in a country that has a GDP of only about $12 trillion per year. It is the equivalent of a man who makes $12,000 per year but owes $100,000, he will never get out of debt, and neither will America. We are totally insolvent. If the U.S. were a business, and it were measured in the way you measure a business, it would be considered to be insolvent. America is already bankrupt, the government just won't admit it.

The good news for me is that I'm making preparations to leave before riots and civil unrest begin. It is always a bad combination when a country has high unemployment with a large population of young males, get prepared for rampant crime. Bogart, my Spanish is getting pretty good, I've been studying it for about a year and I recently headed to the DR, I like it there a lot and I'm probably moving next year. I'm sure you heard what happened with Honduras, my gut told me that was a bad spot, but it will be interesting to see if things turn around there. Much of the world will suffer along with America, but I don't want to be at the epicenter of a collapse.