Go Bush Go!
US debt limit nears $9 trillion
I bet he will be seen as the dictator who truly ****ed up that country of his. |
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That's quite a lot of money.
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Congress must pass all bills dealing with money. The president can't do it by himself.
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My share of the national debt is about $30,000.00--about the average price of a new car.
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I admittedly begin to admire Georgies Style. |
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You know nothing of the way American politics work.
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The point isnt if you are factually right, which i already mentioned. |
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The national debt has grown at a staggering rate since the 30's regardless of who is in power. That, in an election year, congress would decide to raise the national debt ceiling for the umpteenth time, is less than shocking. The same would have been done under, Clinton, Gore or Kerry.
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He could have done something to try to decrease national debt, but instead he spends it on war. ok? |
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Clinton had a surplus, not a deficit.
http://ap.grolier.com/article?assetid=0097755-00 http://www.cnn.com/ALLPOLITICS/stori...lus/index.html Bush is determined to ruin his own country and everyone elses. |
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What so negative about Dubaya ruining the US??
They are already celebrating across latin-america! |
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Because once USA is gone people will be free to come invade my fine beer drinking, hockey playing, Tim Hortons loving country.
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If Clinton had a surplus and not a defecit, why did they repeatedly raise the national debt ceiling during his presidency?
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Just to confuse republicans, dda. It's a prank by those peace-loving, three-hugging smart liberals for the Ivy League Universities you know.
Btw, "Leaving Jesusland" and "You'r wrong" by NOFX is the perfect song for you dda (and for all other americans). |
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Or charming Bergonians.
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It worked. Also, you wouldnt be suggesting that CNN would report propaghanda to the masses? |
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I realise that in America calling someone a liberal is akin to calling their dying mother a cocksucking negro****ing ****whore - but it shouldn't be. Liberalism itself is about the freedom of the individual, no matter what bastard incarnation you have of it over in the good ol USA. (damn you censors) |
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!!! |
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About Bush: I would guess his little wars and the tax cuts for his rich friends did cost quite a lot of money. If you you guys would have elected someone sane into office I doubt the deficit would be that bad. |
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a tax rebate to stimulate the economy
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Traditionally the world's empire (regardless of whoever it may happen to be at a particular time) runs their economy based on loans and debt.
This is because debt is only a bad thing if you are unstable. A global empire tends to be quite stable: ergo debt. Quote:
I consider myself a liberal. |
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$8,960,000,000,000
^That's how much the U.S. will owe now. That's ludicrous. |
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However, the crisis point, if not the breaking point, may be upon them soon. Both the departing chair of the federal reserve Greenspan and the incoming chair have stated that the US is approaching critical mass with its debts, and they need to be dealt with. The Economist has been tracking the effects of the debt, most visible in the consistent slive of the relative value of the US dollar. Thats bad, as the fact that the US dollar is standard international commodity currency, a fact that gives the dollar stability, ironically also depends on the stability of the dollar. There has never been a real threat to this status, as there has never been an alternative. Some nations were tosing around the idea of the Yen in the mid 1980s, but that never went far. The Euro is another possibility, but it is still fairly 'new', and though its value has been rising steadily against the dollar, its long term stability is unknown. Still, it is a viable option, should the US slide continue. Finally, there is the fact that much of this new debt is being 'bought up' by one or two countries, most notably China. That gives them an interesting bargening chip should future tensions arise... The point is, Yahwe is correct that the numbers are meaningless without context, but IN context, the numbers are, and should be, worrying. The internal atate of the US economy is also being kept artificially high by the housing bubble, which again both fedral reserve chairs have stated is due for a nice big Pop... |
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Purely from a psychological perspective the prospect of the national debt surpassing annual GDP is severely worrying.
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I would like to apologize to all of my Norwegian friends. I have been informed that Zhukov is from Bergen and as such is not claimed by the Norwegians. A reasonable response to a distasteful situation.
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I am the victim of misinformation. Damn you hyfe!
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Well, being from Bergen is forgivable, since no-one chooses where they're born.
On the other hand, moving there on purpose? .... just plain sick. Thus my point still stands :) |
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Generating a budget surplus is pretty simple economics. You set yourself a budget to spend over the course of a fiscal year. Then you spend what you need to on whatever you spend a government budget on. If you say, had a budget of £1 , and you only spent £0.95p , youve generated a 5% surplus to go into the next fiscal year. Clinton basically managed the countries finances pretty damned well. Yep, he did raise the national debt ceiling , but the reason for that is further down. Now under Bush, hes being given that £1 to spend. But he wants to cut taxes, and to do that he needs £1.10. And he wants to fund an overseas war, and for that he needs £1.40. This is why he has had to go back to congress a number of times during his presidency to ask for extra funding. However The £1 was borrowed in the first place. And sometime in the future, £1.03p has to be repaid. And whilst Mr Clinton did give himself a surplus, he didnt use that surplus to try and repay what was already owed, he just kept it around in case something came up that required the US to dump a ton of cash into a problem. Writing off third world debt was probably right up there at the top of his list, but TBH , who the hell knows what he was going to spend it on. Al probably told him to keep it so Tipper could sponsor softball leagues or something. Taking a look at most of the western world, Americas problem isnt unique. You can only sustain an economy with huge debt by having strong economic growth, and alas, within the US, most major industries are in the shitter. Dubbya's economic plans are very akin to the boom or bust approach that saw the UK go down the pan in the 80's, theres a plan in there somewhere (an overseas war that sees US companies profit means more taxes and allows, in theory, in the longer term, a more stable economic base from which to work. Alas, thats if its a short war and you stabilise the country. Right now, if he cant get Iraqis to knuckle under, hes absoloutely screwed, but i dont think he cares knowing that his presidency is coming to an end, and it wont be his problem when the country goes tits up) but alas, it just doesnt look good. |
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I don't think anyone would be at all worried about the financial state of the USA if they were familiar with the projected receipts* presented to us by our Dear Leader.
*the second figure. It makes sense, because as the baby boomers retire over the next 5-10 years, they are very likely to donate their fortunes to the fed in appreciation of the wonderful job done by this administration. |
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what kinda of republican are you?? a liberal, pro-gun control, anti death penalty republican? there places in america where they'd shoot you onsight, twice, in the face, with cum then bullets. admit it you only say you're republican to get your job and develop a tough string em by the balls reputation, secretly you loath having to talk to juries consisting of inbred old maniacs who view the deceased as having deserved it and the defendant not guilty as well as a pussy for not pumping more rounds into his head! :) |
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You may be right.
I may be crazy. But it just may be a lunatic you're looking for. It's too late to fight. It's too late to change me. You may be wrong for all I know But you may be right. Billy Joel |
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