CBO report: Debt will rise to 90% of GDP

[spursncowboys]

http://www.washingtontimes.com/news/2010/mar/26/cbos-2020-vision-debt-will-rise-to-90-of-gdp/



President Obama's fiscal 2011 budget will generate nearly $10 trillion in cumulative budget deficits over the next 10 years, $1.2 trillion more than the administration projected, and raise the federal debt to 90 percent of the nation's economic output by 2020, the Congressional Budget Office reported Thursday.

The federal public debt, which was $6.3 trillion ($56,000 per household) when Mr. Obama entered office amid an economic crisis, totals $8.2 trillion ($72,000 per household) today, and it's headed toward $20.3 trillion (more than $170,000 per household) in 2020, according to CBO's deficit estimates.

[in2deep]

who was the last president to reduce the debt?

[spursncowboys]

who was the last president to reduce the debt?how many times did that president veto debt lowing bills?

[EVAY]

who was the last president to reduce the debt?

Wasn't it Clinton?

[EVAY]

how many times did that president veto debt lowing bills?

How often did Reagan? or Bush?

[SnakeBoy]

Wasn't it Clinton?

Clinton didn't reduce the debt.

The op is just talking about public debt. Gross debt is already at 88% gdp.

[EVAY]

Clinton didn't reduce the debt.

The op is just talking about public debt. Gross debt is already at 88% gdp.

I actually thought he did. I thought the national debt went down during Clinton's last two years.

What all is included in your definition of 'gross debt'? Is that what includes allhousehold debt, etc.?

[ElNono]

http://i259.photobucket.com/albums/hh288/krispos42/Animated/oh-noes-everybody-panic.gif

[SnakeBoy]

I actually thought he did. I thought the national debt went down during Clinton's last two years.

What all is included in your definition of 'gross debt'? Is that what includes allhousehold debt, etc.?

No that's US Total debt which is like 5 times GDP (55-60 trillion). Gross debt is public debt plus intra governmental debt (money the gov owes itself). So Clinton raided the trust of social security and other agencies and spent that money instead of "borrowing" from the public by selling securities. That way the public debt went down while the gross debt continued to climb. Slick Willy put a greeat spin on it by claiming "surpluses".

Here's a good article on it...
http://www.craigsteiner.us/articles/16

[SnakeBoy]

http://i259.photobucket.com/albums/hh288/krispos42/Animated/oh-noes-everybody-panic.gif

It was an issue under Bush but now it doesn't matter right. My guess is when we get to 120-130% of GDP you will be saying "Oh Noes!" regardless of which party is in power.

[spursncowboys]

No that's US Total debt which is like 5 times GDP (55-60 trillion). Gross debt is public debt plus intra governmental debt (money the gov owes itself). So Clinton raided the trust of social security and other agencies and spent that money instead of "borrowing" from the public by selling securities. That way the public debt went down while the gross debt continued to climb. Slick Willy put a greeat spin on it by claiming "surpluses".

Here's a good article on it...
http://www.craigsteiner.us/articles/16

I read that a long time ago( the subject, not the link). Isn't most of that considered never able to pay back so they just don't even include it?

[Wild Cobra]

who was the last president to reduce the debt?
Nixon.

[Wild Cobra]

Wasn't it Clinton?
No, that was a paperwork trick.

[SnakeBoy]

Isn't most of that considered never able to pay back so they just don't even include it?

From the article...


Are intragovernmental holdings really debt?

Yes, intragovernmental debt is every bit as real as the public debt. It's not "a wash" simply because the government owes the money to "itself."

As I explained in a previous article, Social Security is legally required to use all its surpluses to buy U.S. Government securities. From Social Security's standpoint, it has a multi-trillion dollar reserve in the form of U.S. Government securities. When the Social Security system starts to falter due to insufficient contributions to pay for all the benefits of retiring baby-boomers, probably around 2017, it will start cashing those securities and will expect the U.S. Government to pay it back, with interest. The problem is, the government doesn't have the money. The money has already been spent--in part, effectively, to pay down the public debt under Clinton.


Update 3/31/2009: The Social Security "surplus"--which has been borrowed by the Federal Government every year, including under Clinton to generate the "surplus"--is now expected to evaporate within a year (2009 or 2010) rather than the 2017 mentioned above. The following quote also provides additional evidence that the "surplus" was indeed borrowed from Social Security "for decades."


With unemployment rising, the payroll tax revenue that finances Social Security benefits for nearly 51 million retirees and other recipients is falling, according to a report from the Congressional Budget Office. As a result, the trust fund's annual surplus is forecast to all but vanish next year -- nearly a decade ahead of schedule -- and deprive the government of billions of dollars it had been counting on to help balance the nation's books....

The Treasury Department has for decades borrowed money from the Social Security trust fund to finance government operations. If it is no longer able to do so, it could be forced to borrow an additional $700 billion over the next decade from China, Japan and other investors. And at some point, perhaps as early as 2017, according to the CBO, the Treasury would have to start repaying the billions it has borrowed from the trust fund over the past 25 years, driving the nation further into debt or forcing Congress to raise taxes.


The Federal Government cannot just wave a magic wand and somehow "write off" the intragovernmental debt. Essentially, citizens invested money in Social Security and Social Security invested that money in the Federal Government. Now Social Security effectively owes you money (in the form of future retirement benefits) and won't be able to pay you that money if the Federal Government just cancels the intragovernmental debt. The only way the Federal Government can "write off" intragovernmental debt is if it simultaneously eliminates the Social Security system. That might very well be a good idea, but it isn't likely. And Social Security will start running out of money in about 2017 if the Federal Government doesn't honor those intragovernmental holdings as real debt.

In short, if the government doesn't pay back intragovernmental holdings, other government agencies (like Social Security) will fail. Since allowing Social Security to fail is not a politically viable option, the debt represented by intragovernmental holdings is just as real as the public debt. It can't just be eliminated by some fancy accounting trick or political maneuvering. If it were possible, believe me, politicians would have done it already and taken credit for reducing the national debt by trillions of dollars.

[SnakeBoy]

No, that was a paperwork trick.

More like he just kicked the can down the road a bit.

[jack sommerset]

Besides a very small percentage of really dumb motherfuckers, everyone knows this is a fucking joke. CBO was given what Obama needed to show whoever was dumb enough to believe that this would not add to the deficit. The dems who support this bill don't care what happens to america's finacial situation. Obama is banking on the welfare citizens to get off their lazy asses and vote for him and his dems the next few years. Won't happen. He is hoping the people who hate this bill will forget. Won't happen. Obama is the joke and he will go down in history as the worst president of all-time. Book it.

[Wild Cobra]

No, that was a paperwork trick.More like he just kicked the can down the road a bit.
Well, when you make a budget that plans to spend less than the revenues received, it looks good. However, when interest and some borrowing is left out, then it's a lie. Then on top of that, as congress is in session, more money gets spent past what is in the budget.

[Nbadan]

...the sky is falling! the sky is falling!!

Where were these 'conservatives' when Dubya was running trillion dollar a year debt during an economic expansion and 'easy money' period....hypocrites...

[Wild Cobra]

...the sky is falling! the sky is falling!!

Where were these 'conservatives' when Dubya was running trillion dollar a year debt during an economic expansion and 'easy money' period....hypocrites...
When will you stop being an idiot?

War costs are authorized by constitution. Being a Nanny State isn't. Just how was he suppose to reduce the welfare spending to keep from deficit spending?

[jack sommerset]

...the sky is falling! the sky is falling!!

"Pass this health care bill or we all we die"

[coyotes_geek]

...the sky is falling! the sky is falling!!

Where were these 'conservatives' when Dubya was running trillion dollar a year debt during an economic expansion and 'easy money' period....hypocrites...

And then there's people like you. So bothered by Bush's deficits, yet amazingly not worried about Obama running up deficits several times as big. Hypocrites.

[coyotes_geek]

http://i259.photobucket.com/albums/hh288/krispos42/Animated/oh-noes-everybody-panic.gif

Right. There's no need to worry. When was the last time too much debt got anyone in trouble?

Maybe it's not time to panic, but damn, we've got to at least acknowledge that sooner or later this is going to have to be dealt with. Something that the current administration shows no signs of taking seriously.

[spursncowboys]

President Bush expanded the federal budget by a historic $700 billion through 2008.
President Obama would add another $1 trillion.

President Bush began a string of expensive finan cial bailouts.
President Obama is accelerating that course.

President Bush created a Medicare drug entitle ment that will cost an estimated $800 billion in its first decade.
President Obama has proposed a $634 billion down payment on a new govern ment health care fund.

President Bush increased federal education spending 58 percent faster than inflation.
President Obama would double it.

President Bush became the first President to spend 3 percent of GDP on federal antipoverty programs.
President Obama has already in creased this spending by 20 percent.

President Bush tilted the income tax burden more toward upper-income taxpayers.
President Obama would continue that trend.

President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt),
President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.

UPDATE: Many Obama defenders in the comments are claiming that the numbers above do not include spending on Iraq and Afghanistan during the Bush years. They most certainly do. While Bush did fund the wars through emergency supplementals (not the regular budget process), that spending did not simply vanish. It is included in the numbers above. Also, some Obama defenders are claiming the graphic above represents biased Heritage Foundation numbers. While we stand behind the numbers we put out 100%, the numbers, and the graphic itself, above are from the Washington Post. We originally left out the link to WaPo. It has now been added.

CLARIFICATION: Of course, this Washington Post graphic does not perfectly delineate budget surpluses and deficits by administration. President Bush took office in January 2001, and therefore played a lead role in crafting the FY 2002-2008 budgets. Presidents Bush and Obama share responsibility for the FY 2009 budget deficit that overlaps their administrations, before President Obama assumes full budgetary responsibility beginning in FY 2010. Overall, President Obama’s budget would add twice as much debt as President Bush over the same number of years.
http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

[Nbadan]

When will you stop being an idiot?

War costs are authorized by constitution. Being a Nanny State isn't. Just how was he suppose to reduce the welfare spending to keep from deficit spending?

War is not a act of aggression and occupation of a country that did not attack us, nor had any role in attacking us..

[Nbadan]

And then there's people like you. So bothered by Bush's deficits, yet amazingly not worried about Obama running up deficits several times as big. Hypocrites.

Your supposed to run deficits when your working your way out of the Bush recession, the worst in the history of the U.S. since the great depression...

[Wild Cobra]

Your supposed to run deficits when your working your way out of the Bush recession, the worst in the history of the U.S. since the great depression...
Deficit spending I think is acceptable for economic downturns and war. The debt should otherwise be paid down. So why did Clinton have deficit spending?

[Nbadan]

The debt should otherwise be paid down

Exactly, but Bush gave the rich tax cuts and the old free pills instead, all while charging two wars to our kids credit cards...

[coyotes_geek]

Your supposed to run deficits when your working your way out of the Bush recession, the worst in the history of the U.S. since the great depression...

But we're out of the recession. The stimulus worked. Didn't you get the memo?

[Nbadan]

So why did Clinton have deficit spending?

Because you just can't cut out all non-discretionary spending, its a monster that once rolling is hard to stop, but Clinton did raise taxes and when he walked out of office on Jan 2000 there was officially a budget surplus projection for the first time in decades...

[Nbadan]

But we're out of the recession. The stimulus worked. Didn't you get the memo?

Even though there is growth in the economy there is still a lot skepticism in the markets, especially the banks, and private lending...without credit there is little growth...

[Wild Cobra]

Because you just can't cut out all non-discretionary spending, its a monster that once rolling is hard to stop, but Clinton did raise taxes and when he walked out of office on Jan 2000 there was officially a budget surplus projection for the first time in decades...
Yep, raising taxes was one of the causes of our economic downturn.

Raising taxes gives only a temporary boost in revenue. When the economy adjusts to a higher tax rate, revenues decline.

[Nbadan]

Yep, raising taxes was one of the causes of our economic downturn.

Raising taxes gives only a temporary boost in revenue. When the economy adjusts to a higher tax rate, revenues decline.

....one would think, however, there is plenty of evidence that raising taxes actually had little effect of growth, even regulating it so that it didn't overheat like under Dubya, after all, more than 2-3% growth is inflationary...also, by projecting payments of the debt, it made investors much more at ease knowing that the U.S. was getting serious about its deficits...lending at a very generous 1%, basically, free money...

[MiamiHeat]

When will you stop being an idiot?

War costs are authorized by constitution.

Except for the fact that Bush administration lied about Iraq and misled everyone into a war.


Iraq had NOTHING to do with 9/11, no wmd's, and you know what? It's plain as fucking day that it doesn't matter if Iraq has WMD's, North Korea has WMD's, are we going to war with them too? Everyone that might have WMD?

Why is Iraq so special? Give me a fucking break. You and I know that half of the Bush administration was there for George H Bush the father's term, and they wanted to go back and finish the job they didn't finish in Desert Storm.

It was about $$$, oil, etc.

[b]THEY DIDNT EVEN GIVE A FUCK ABOUT AFGHANISTAN. We had a small little war, then bam, IRAQ time. And all of our forces basically went to Iraq and we ignored Afghanistan. We had more police officers in New York City than we had soldiers in Afghanistan.

They fucking lied to the country, and they all need to be tried for treason and other crimes.


So yeah, running up a deficit on a fake war is a pretty big fucking problem


I have no fucking idea how you can defend Bush, WildCobra. You are being dishonest or just not fucking paying attention.

[MiamiHeat]

I'm at the point that I don't give a fuck what Obama does anymore

I hope he keeps up more entitlements for the people of the country, and if it runs this country bankrupt, THEN GOOD.

FUCK the wealthy pieces of shit in this country that get everything they want, and keep fucking lying and abusing the people who built this country.

[spursncowboys]

Exactly, but Bush gave the rich tax cuts and the old free pills instead, all while charging two wars to our kids credit cards...

If the rich pay most of the taxes and he gives everyone who pays taxes a tax cut, then yeah the rich would get a tax cut. should he have villianized rich people like we are in some kind of marxist class struggle? Just to get other's to vote for him by putting americans against americans for him and his party's gain?
How much from the total of those credit cards are going to be from Barry? If another country attacks us, will barry start spending money to rebuild up our military or maintain the military as the only govt area seeing budget cuts?

[spursncowboys]

I'm at the point that I don't give a fuck what Obama does anymore

I hope he keeps up more entitlements for the people of the country, and if it runs this country bankrupt, THEN GOOD.

FUCK the wealthy pieces of shit in this country that get everything they want, and keep fucking lying and abusing the people who built this country.

Who exactly built this country? The americans who went to the gold rush of california to set up businesses for the americans going for gold built this country. ford, gillette, heinz, and herb(southwest) all have great stories of creating companies from near nothing which impact our countries and millions of americans too. My question is would all these innovative thinkers had created the same thing with a big government type? Are we losing these great innovative thinkers from the size of our government now? Is welfare, govt. entitlement programs, keeping too many americans from realizing their potential and thereby creating something that benefits the entire country and world?

[MiamiHeat]

some ( i know the history of some, but some of those you listed I don't) of those companies you named were fucking patriotic. guys like Henry Ford were humble, good people, who suffered in their lives. I believe Henry Ford went bankrupt several times before he made Ford? and how about you go look up how well Ford treated his employees?

the pieces of shit running the companies NOW are trust fund babies who had silver spoons in their mouths their whole lives. selfish little fuckers who outsource american JOBS to other countries, refuse to raise salaries to match rising cost of living, and overwork their employees in efforts to cut costs and increase profits.

instead of selling more products, they just cut costs - fire employees, refuse benefits, outsource labor, outsource services.... it's a corrupt way of thinking that will continue to cripple this country.

[MiamiHeat]

Bush administration fucking MISLED THIS COUNTRY into a false war, that raped our economy and deficit..

and yet here these fucking republicans are whining about obama.

fuck that. Republicans get to spend spend spend and implement THEIR policies while the Democrats have to fix their mess and not do shit?


No fuck it.

Democrats go right ahead and spend spend spend too.

[peteee]

Bush administration fucking MISLED THIS COUNTRY into a false war, that raped our economy and deficit..

and yet here these fucking republicans are whining about obama.

fuck that. Republicans get to spend spend spend and implement THEIR policies while the Democrats have to fix their mess and not do shit?


No fuck it.

Democrats go right ahead and spend spend spend too.
it seems you don't have a clue here my friend. Obama was the initiator who incited all these blames and criticisms against bush, he has been doing this since his campaign despite that he hasn't done anything brighter either. The deficit still grows, which differs from what he promised during his series of orotund speeches.

[Wild Cobra]

Q) How do you know when a libtard's pussy is sore?

A) When they change a thread to a Bush Bashing festival.

[peteee]

some ( i know the history of some, but some of those you listed I don't) of those companies you named were fucking patriotic. guys like Henry Ford were humble, good people, who suffered in their lives. I believe Henry Ford went bankrupt several times before he made Ford? and how about you go look up how well Ford treated his employees?

the pieces of shit running the companies NOW are trust fund babies who had silver spoons in their mouths their whole lives. selfish little fuckers who outsource american JOBS to other countries, refuse to raise salaries to match rising cost of living, and overwork their employees in efforts to cut costs and increase profits.

instead of selling more products, they just cut costs - fire employees, refuse benefits, outsource labor, outsource services.... it's a corrupt way of thinking that will continue to cripple this country.
Obama only cites and magnifies bush's errors to soothe the distresses of his own, which differs from the folk's motives to lambaste bush, the pure hatred against a noob who savaged the country's prosperity. Bush is well worth the hatred and vilification but it just easily looks like another political drama when it involves BHO who's the president in office.

Shipping the jobs overseas? that's not Bush's fault either. in fact american employers have been doing this for roughly 2 decades and the decisions weren't made by any term of goverment, instead they were mostly prompted by the businessmens' natural instincts of seeking cheaper labours which didn't have much to do with government.

[peteee]

I'm at the point that I don't give a fuck what Obama does anymore

I hope he keeps up more entitlements for the people of the country, and if it runs this country bankrupt, THEN GOOD.

FUCK the wealthy pieces of shit in this country that get everything they want, and keep fucking lying and abusing the people who built this country.
why did you immigrate into this country then? as long as you aren't yet too old to be unmovable, you are welcome to leave if you hate it this badly.

[MiamiHeat]

it seems you don't have a clue here my friend. Obama was the initiator who incited all these blames and criticisms against bush, he has been doing this since his campaign despite that he hasn't done anything brighter either. The deficit still grows, which differs from what he promised during his series of orotund speeches.

what the fuck?

LOL

are you trying to say that Obama started this "blame bush" thing?

where the fuck have oyu been since 2003?

holy shit. Bush has been hated since before the 2004 re-election. he's been a fucking corrupt piece of shit for a long time and people have been wanting him impeached for a long time now. you have no fucking clue

obama is just repeating what everyone has been saying. are you living under a fucking rock?

[MiamiHeat]

why did you immigrate into this country then? as long as you aren't yet too old to be unmovable, you are welcome to leave if you hate it this badly.

i am an american, dipshit. born in california, i didn't immigrate anywhere

[MiamiHeat]

Q) How do you know when a libtard's pussy is sore?

A) When they change a thread to a Bush Bashing festival.

I voted for McCain.

I am not even fucking close to being a liberal, nice fucking try clown

[peteee]

i am an american dipshit. born in california, i didn't immigrate anywhere
how come you're a Heat fan then? you've got bags of basketball teams in california most of which have better histories than Miami Heat, are you a troll?

and you really needn't underestimate yourself so hard, my friend.

[Wild Cobra]

I voted for McCain.

I am not even fucking close to being a liberal, nice fucking try clown
If you say so.

Voting for a liberal republican really means you aren't a Liberal.

I get it. You just voted for the Liberal instead of the Marxist.

[MiamiHeat]

Obama only cites and magnifies bush's errors to soothe the distresses of his own, which differs from the folk's motives to lambaste bush, the pure hatred against a noob who savaged the country's prosperity. Bush is well worth the hatred and vilification but it just easily looks like another political drama when it involves BHO who's the president in office.

Ok, fine.

But Obama still does have a legitimate argument though. These are 8 years of Bush problems, that he now has to deal with. Bush did DO this, this is not Obama's war, this is Bush's shitty war. This is not Obama's economy, this is Bush's.

Bush ran this country into the fucking ground, in almost every way possible. Even in foreign diplomacy, the scumbag Bush squandered and abused the world's sympathy of 9/11, and the DECADES old trust of American intelligence, he squandered all of it.

Underfunded policies, which were a joke to begin with, like No Child Left Behind, a fucking moronic policy of epic proportions to start with, WASNT EVEN PROPERLY FUCKING FUNDED

the list is so long, i get angry just fucking thinking that this piece of shit and cheney and rove and rumsfeld are all walking free and clear today.



Shipping the jobs overseas? that's not Bush's fault either. in fact american employers have been doing this for roughly 2 decades and the decisions weren't made by any term of goverment, instead they were mostly prompted by the businessmens' natural instincts of seeking cheaper labours which didn't have much to do with government.

Go look it up. The rapid trend of outsourcing jobs happened under Bush's faggot watch. It might have happened before, but it happened in a massive scale during Bush's watch.

He did NOTHING to slow it down or stop it.

Facts are fucking facts. Those are companies providing AMERICANS with services and products, so those JOBS should belong to AMERICANS. PERIOD.

It has to fucking stop. If you want to be a company, operating in the United States, you cannot massively outsource your labor. Period.

All of this global capitalism garbage only makes CORPORATIONS AND PRIVATE INDIVIDUALS wealthy, while it promotes uneven trade, such as the relationship between China and the USA. and don't fucking tell me that cheap labor outside of USA is cheaper, so cheaper products. THERE SHOULD NOT EVEN BE A FUCKING NEED TO OUTSOURCE LABOR. USA was once an industrial powerhouse, what the fuck happened? We used to manufacture our own shit. Our country is diseased with shitty GREEDY thinking.

This is like giving someone a disease like AIDS, then telling them don't worry, the pills to keep you alive are cheap. Why don't we cure the disease in the first place?

[MiamiHeat]

If you say so.

Voting for a liberal republican really means you aren't a Liberal.

I get it. You just voted for the Liberal instead of the Marxist.

what is your definition of a liberal? and why are you perpetuating these stupid stereotypes?

Why must one be "liberal or conservative"

[peteee]

what the fuck?

LOL

are you trying to say that Obama started this "blame bush" thing?

where the fuck have oyu been since 2003?

holy shit. Bush has been hated since before the 2004 re-election. he's been a fucking corrupt piece of shit for a long time and people have been wanting him impeached for a long time now. you have no fucking clue

obama is just repeating what everyone has been saying. are you living under a fucking rock?
why don't you lift up your lips to check how much Obama is now criticized before flattering him? Obama doesn't have any idle time to waste on internet so he wouldn't be seeing how hard you love him anyway. in fact every governor in office has to be the receiver of considerable criticisms which are often mixed with malicious insults, bush just got his guaranteed share of bricks and obama isn't receiving any less i believe. The clumsiness of Obama is just he acts like a prig who shirks his own share of criticisms and tries to clump it onto the account of his predecessor.

[MiamiHeat]

how can i love obama if I voted for McCain?

epic fail

[Wild Cobra]

what is your definition of a liberal? and why are you perpetuating these stupid stereotypes?

Why must one be "liberal or conservative"
I'm not, other than pointing out your idiocy. I am only going by the stupid way you "Bush Bash." It's really libtarded. President Bush has done plenty wrong, but the way he is blamed is flat out moronic. He has done enough wrong you guys don't need to lie about what he did. The truth is damning enough. If all you understand are the propagandized lies, then you deserve to be called a libtard.

Does glorifying how Toys R Us was owned by a fake PS3 coupon reflect conservative values? To obtain such information hours after the crime is telling about you also. Where did you get the picture of the coupon anyway? A best friend maybe? You? Did you commit the crime?

[MiamiHeat]

I'm not, other than pointing out your idiocy. I am only going by the stupid way you "Bush Bash." It's really libtarded. President Bush has done plenty wrong, but the way he is blamed is flat out moronic. He has done enough wrong you guys don't need to lie about what he did. The truth is damning enough. If all you understand are the propagandized lies, then you deserve to be called a libtard.

Or is it because the message is the fucking truth, no matter who says it?

If Person A and Person B observe a problem, and both complain about it accurately, they are bound to sound similar.

Doesn't mean Person A = Person B or that they share the same ideology




Does glorifying how Toys R Us was owned by a fake PS3 coupon reflect conservative values? To obtain such information hours after the crime is telling about you also. Where did you get the picture of the coupon anyway? A best friend maybe? You? Did you commit the crime?

http://boards.4chan.org/b/

It's a "Random" board that is famous on the internet, people post all sorts of shit and talk about all sorts of things.

someone posted it there and it circulated the internet until I saw it


:lol at you

[Wild Cobra]

http://boards.4chan.org/b/

It's a "Random" board that is famous on the internet, people post all sorts of shit and talk about all sorts of things.

someone posted it there and it circulated the internet until I saw it


:lol at you
Looks like a board for losers.

[MiamiHeat]

Looks like a board for losers.

Maybe, I never judged them, but funny nonetheless.

I don't discriminate for my lols

[ElNono]

It was an issue under Bush but now it doesn't matter right. My guess is when we get to 120-130% of GDP you will be saying "Oh Noes!" regardless of which party is in power.

It's been an issue for a bunch of decades... why start panicking now?

[ElNono]

Right. There's no need to worry. When was the last time too much debt got anyone in trouble?

Maybe it's not time to panic, but damn, we've got to at least acknowledge that sooner or later this is going to have to be dealt with. Something that the current administration shows no signs of taking seriously.

Why would they take it seriously? They're just going to kick it forward like pretty much every other administration that came before it.

[Winehole23]

Until somebody kicks us back. The rest of the world won't put up with this shit forever. The longer we postpone our obligations, the harder the eventual kick will be.

[MannyIsGod]

What does the CBO think is the at the heart of this debt?


The question is rhetorical, don't bother answering. Just remember the answer and consider all the hard work the GOP put into health care reform.

[MannyIsGod]

Until somebody kicks us back. The rest of the world won't put up with this shit forever. The longer we postpone our obligations, the harder the eventual kick will be.

No, they'll do it until there is a bigger better kid on the block. Unfortunetly for the world, that still isn't the case. Wake me up when China doesn't have to peg their currency and then maybe I'll be more concerned.

[Winehole23]

Market forces are bigger than us.

[MannyIsGod]

At one point they were and they will be at one point again but they aren't right now. Remember, we fell down, but everyone else fell down HARDER.

[MannyIsGod]

In fact some are still falling

[MannyIsGod]

There I go again with WH style.

[MannyIsGod]

Its fun, you should try it.

[Winehole23]

http://online.wsj.com/article/SB10001424052748703312504575142112712294450.html?m od=WSJ_latestheadlines

[Winehole23]

Unrelated?

[peteee]

Ok, fine.

But Obama still does have a legitimate argument though. These are 8 years of Bush problems, that he now has to deal with. Bush did DO this, this is not Obama's war, this is Bush's shitty war. This is not Obama's economy, this is Bush's.

Bush ran this country into the fucking ground, in almost every way possible. Even in foreign diplomacy, the scumbag Bush squandered and abused the world's sympathy of 9/11, and the DECADES old trust of American intelligence, he squandered all of it.

Underfunded policies, which were a joke to begin with, like No Child Left Behind, a fucking moronic policy of epic proportions to start with, WASNT EVEN PROPERLY FUCKING FUNDED

the list is so long, i get angry just fucking thinking that this piece of shit and cheney and rove and rumsfeld are all walking free and clear today.



the limp economy wasn't solely generated by the war though, maybe the war aggravated it to some degree but it's just not the only source of all evils and it's pretty sure Bush wasn't the culprit who opened pandora's box.

In fact the has never lived a full decade free from wars I tell you, and America has to get involved in the wars every time one breaks out because as the world's most respectable and most powerful country America is always obliged to such sacred duties of sustaining a relative peace around the globe. America only starts wars when a war is inevitable and the only purpose is to regain peace, which is quite different than a tyranny the Iraq war was launched against.

On behalf of the US, war isn't necessarily a bad thing either. The problem is the war has cost too much more than originally expected, which might have contributed some weight to help sag the ship, but that's definitely not like impaling a hole that sinks the ship intentionally. Taxpayer dollars just need a way to be spent and there isn't any other means more costing than a war. A war creates considerable jobs in some certain industries like auto, medical, ore quarrying etc., and simultaneously it pumps GDP and economic growth. Whereas if the money is stashed then vulnerably some venal scandals are probably going to be flourishing.



Go look it up. The rapid trend of outsourcing jobs happened under Bush's faggot watch. It might have happened before, but it happened in a massive scale during Bush's watch.

He did NOTHING to slow it down or stop it.

Facts are fucking facts. Those are companies providing AMERICANS with services and products, so those JOBS should belong to AMERICANS. PERIOD.

It has to fucking stop. If you want to be a company, operating in the United States, you cannot massively outsource your labor. Period.

All of this global capitalism garbage only makes CORPORATIONS AND PRIVATE INDIVIDUALS wealthy, while it promotes uneven trade, such as the relationship between China and the USA. and don't fucking tell me that cheap labor outside of USA is cheaper, so cheaper products. THERE SHOULD NOT EVEN BE A FUCKING NEED TO OUTSOURCE LABOR. USA was once an industrial powerhouse, what the fuck happened? We used to manufacture our own shit. Our country is diseased with shitty GREEDY thinking.

This is like giving someone a disease like AIDS, then telling them don't worry, the pills to keep you alive are cheap. Why don't we cure the disease in the first place?
the job outsourcing wasn't started under GWB's term though. in fact it had been in existence for decades since before bush sworn into the house. I'm also quite an advocate who believes American jobs should be retained inboard, no matter you believe or not, I just don't think bush is the guy to blame for the vicious chain. Bush didn't start the chain and he just did exactly the same retarded job his predecessors and successor all did and continues doing.

You would be nuts if you complain about the unfairness in trades between US and china I say. Basically it has been those asians who get raped because they are so retarded to stash the dollars, something that can easily be turned trashes by the American central bank or the federal reserve bank. America just carried a big number in deficit while those asian labours got their efforts drained by American consumers, and you can easily tell who get raped in the trades.

it's just a win-win deal for both America and the 3rd-world countries to exchange their resources. The problem is we've got so many class 1 retards who don't even want to buy any good from America, with the money they earned from America which in the end generates such an extravagant imbalance.

Americans just are mostly inured to wealthy lives so that it's now really hard for employers to get any American to do some menial job the former generation used to do, that's also the reason why immigrants are showering in. Technologies have developed a lot and there aren't so many menial jobs as there used to be, but there are still some jobs out there that are repellant to roughly all the 300 million true Americans who are used to considering themselves noble men superior to the citizens of other countries including some European countries even. Although the technology is so developed we can even arrive on the moon, you still haven't got a robot to wash the dish.

[Winehole23]

America is always obliged to such sacred duties of sustaining a relative peace around the globe. America only starts wars when a war is inevitable and the only purpose is to regain peacehttp://images.icanhascheezburger.com/completestore/2008/10/2/128674841861102668.jpg


Bush didn't start the chain and he just did exactly the same retarded job his predecessors and successor all did and continues doing.

http://www.camptwinlakes.org/images/logo_special_olympics_georgia.gif


Basically it has been those asians who get raped because they are so retarded to stash the dollars, something that can easily be turned trashes by the American central bank or the federal reserve bank.

http://mwregal.com/catalog/images/cuckoo_Clock_HHCC5.jpg

[Winehole23]

it's just a win-win deal for both America and the 3rd-world countries to exchange their resources.
http://upload.wikimedia.org/wikipedia/commons/thumb/6/6d/Three_Card_Monte.jpg/800px-Three_Card_Monte.jpg

[Winehole23]

but there are still some jobs out there that are repellant to roughly all the 300 million true Americans who are used to considering themselves noble men superior to the citizens of other countries including some European countries even. Although the technology is so developed we can even arrive on the moon, you still haven't got a robot to wash the dish.

http://cache.gawker.com/assets/images/io9/2009/07/irobot.jpg

[MiamiHeat]

there is so much wrong with the thinking in business in this country


why the fuck is it OK to accept a corporation acting like a greedy piece of shit?

"it's natural for them to want to increase their profits"

yeah no fucking shit. and it was also once natural to expect people to DO THE RIGHT THING.

has the United States turned into a place where we think it's OK to fucking shit over people because it's good business sense?

You know what is also good business sense? Slave labor. Doesn't mean we should fucking do it.

so much needs to be changed in america, ugh.

[peteee]

there is so much wrong with the thinking in business in this country


why the fuck is it OK to accept a corporation acting like a greedy piece of shit?

"it's natural for them to want to increase their profits"

yeah no fucking shit. and it was also once natural to expect people to DO THE RIGHT THING.

has the United States turned into a place where we think it's OK to fucking shit over people because it's good business sense?

You know what is also good business sense? Slave labor. Doesn't mean we should fucking do it.

so much needs to be changed in america, ugh.
some goods just have to be made by hands, like clothes and shoes but Americans demand much bigger paychecks than immigrants and Asians do, and it's also a good deal for cheap labours because they earn their livings by doing this while they would have been starved otherwise.

God doesn't want the existence of such critical exploitation and severe unfairness, but the facts still exist there anyways. Slaves were treated like cattle and didn't get paid for their efforts, while nowadays it's just a fair deal made between labour sellers and buyers. If you want a world where T-Shirts are sold 100 dollar each, then it makes sense you are so sympathetic on those menial workers.

[spursncowboys]

some ( i know the history of some, but some of those you listed I don't) of those companies you named were fucking patriotic. guys like Henry Ford were humble, good people, who suffered in their lives. I believe Henry Ford went bankrupt several times before he made Ford? and how about you go look up how well Ford treated his employees?

the pieces of shit running the companies NOW are trust fund babies who had silver spoons in their mouths their whole lives. selfish little fuckers who outsource american JOBS to other countries, refuse to raise salaries to match rising cost of living, and overwork their employees in efforts to cut costs and increase profits.

instead of selling more products, they just cut costs - fire employees, refuse benefits, outsource labor, outsource services.... it's a corrupt way of thinking that will continue to cripple this country.
before heinz, people bought ketchup from a can. So they never knew how bad it was. They would buy brand new ketchup, open it, and go through it and get rid of maybe half of it, due to it going bad. Heinz was the first to sell a see through jar of ketchup to show his customers the value of his product.

Henry’s parents taught him thrift rather than greed. He knew nothing of “get rich quick” business schemes and couldn’t bear the thought of ill-gotten gain. Many of his business ideals and principles, almost unheard of at the time, remain progressive to this day. For example, Henry Heinz did business based on the simple idea that every profit should be fairly earned. One of his mottos still guides Heinz’s purchasing practices today: “Deal with the seller so justly that he will want to sell to you again.”

Another driving principle of Henry Heinz’s that resonates in today’s resource-conscious world was his hatred of waste of any kind. Leading by example, he inspired each of his employees to avoid even the slightest waste of material, time or opportunity.

Finally, Henry Heinz learned from his mother a genuine and enduring concern and respect for every person, rich or poor, and always tried to practice her favorite rule for living: “Always remember to place yourself in the other person’s shoes.”

Individually, the principles Henry Heinz instilled in his company can seem simple and almost quaint. Taken together though, they’re an all-too-rare combination in today’s business world. Fortunately, Henry Heinz himself showed that common sense, decency and social justice is a proven recipe for enduring business success.
http://www.heinz.com/our-company/about-heinz/history.aspx

[boutons_deux]

"Bush Bashing festival"

dubya's, Repugs', conservatives', neo-cunts' gifts to the American people was a huge pile of shit that keeps on giving, a FACT that WC and Repugs want the amnesiac, dumbed down Americans to forget and shift all blame to the Dems who inherited, not created, the pile of shit.