If Barry gets re-elected in 2012 there may not be an America in 2016.
I can explain it to you but I can't understand it for you.
"Any man who thinks he can be happy and prosperous by letting the Government take care of him; better take a closer look at the American Indian." - Henry Ford
Corruptissima re publica plurimae leges; When the Republic is at its most corrupt the laws are most numerous. - Publius Cornelius Tacitus
otisptoadwater wrote: If Barry gets re-elected in 2012 there may not be an America in 2016.
Disagree. Barack would be a lame duck with a hostile house to deal with. It would just be four more years of golfing vacations and raising money for the DNC. (and replacing 3 Supremes)
Thomas Sowell: There are no solutions, just trade-offs.
I agree Fred. I don't see a revolution coming while the Federal government is still providing the goodies to everyone. You may see some of the states dropping out of Federal programs and giving up more of the "money with strings attached" Then many people will relocate to the handout states.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
I agree. There are still too many who are fat, dumb and happy. I believe though that there is a point in time coming where there will no longer be enough middle class folks to pay for all the entitlements. Then things will start getting ugly. So long as there's a line at the Starbucks nothing will happen.
Or there is a point in time where credit markets realize we are borrowing way too much money with no long term plan. When that happens it will create an rising interest rate cycle that will feed on itself. Much like Greece and Spain. Its not if, but when.
Another possible trigger is some kind of unanticipated economic shock, disaster or war.
Right now there is not much in reserve for policy makers to tap. Interest rates at zero. FDIC, pension benefit guarantee funds, unemployment insurance funds, most any reserves are already tapped out and in the red already. Its not doom and gloom, that is reality. We just continue to borrow and dig the hole.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
LOL wrote: Or there is a point in time where credit markets realize we are borrowing way too much money with no long term plan. When that happens it will create an rising interest rate cycle that will feed on itself. Much like Greece and Spain. Its not if, but when.
Another possible trigger is some kind of unanticipated economic shock, disaster or war.
Right now there is not much in reserve for policy makers to tap. Interest rates at zero. FDIC, pension benefit guarantee funds, unemployment insurance funds, most any reserves are already tapped out and in the red already. Its not doom and gloom, that is reality. We just continue to borrow and dig the hole.
You could be right, but Japan has debts of twice their GDP but the natives still keep buying it.
lol Since the poor and the middle class don't have the money to buy US debt, it might be the 1%r's who keep us from defaulting.
Thomas Sowell: There are no solutions, just trade-offs.
cydl wrote: I agree. There are still too many who are fat, dumb and happy. I believe though that there is a point in time coming where there will no longer be enough middle class folks to pay for all the entitlements. Then things will start getting ugly. So long as there's a line at the Starbucks nothing will happen.
I think you comment gets directly to the point. If you want to see a microcosm of how this may very well play out, all you have to do is look at what's going on with California's budget right now. California is one of those states that has too many people at the government teat and its only answer is to tax those who are working and producing more and more. What's happening is that the middle class is leaving California. If you want to see how a pure Democrat team will "do" the budget...just look at California.
California's budget plan balanced with risky assumptions
The budget signed by Gov. Jerry Brown assumes that California will take in revenue from the federal estate tax and that voters will approve $8 billion in tax hikes in the fall.
Gov. Jerry Brown has bet a portion of California's financial health on the expectation that a hyperpartisan Congress will change course on a hotly debated tax policy this year.
The budget Brown signed last week assumes that over the next four years the state will reap almost $2.3 billion from the federal estate tax, a levy on wealth inheritance. California hasn't collected any revenue from the tax since 2004, and if Congress sticks with current policy it won't in the coming years, either.
I believe that if we continue on this path, this era of unending deficits will be behind us," Senate President Pro Tem Darrell Steinberg (D-Sacramento) told reporters after the Legislature finalized its budget bills last week.
But the bet on estate taxes is one of several risky ones they made this year, not the least of which is the expectation that voters will approve more than $8 billion in higher taxes in November. Another assumption is already faltering: Facebook stock is trading at lower levels than expected, casting doubt on hopes that the company's initial public offering would generate $1.9 billion in tax receipts.
In addition, the analyst's office said the state may collect $900 million less than anticipated from defunct local redevelopment agencies.
If the forecasts don't pan out, state leaders could be scrambling to keep their heads above water, said Christopher Thornberg, a financial consultant who advises the state controller. That's what happened earlier this year when tax revenue fell $3.5 billion short, widening the budget deficit to $15.7 billion.
Imagine if you will that you and your significant other sit down at the dinner table this weekend to refine your household budget and decide that one of the best ways to go about it is to play the lottery, win $50,000 and use that money to balance out the budget. Imagine further that you and your SO ACTUALLY draft a budget based on this assumption.
Now you are seeing how Democrats "do" budgets and where we are going if Obama gets another 4 years. I can't believe what's going on....but that is what's going on. I don't understand it.
cydl wrote: I agree. There are still too many who are fat, dumb and happy. I believe though that there is a point in time coming where there will no longer be enough middle class folks to pay for all the entitlements. Then things will start getting ugly. So long as there's a line at the Starbucks nothing will happen.
I like that - the Starbucks line "economic indicator".
And the comments about California are accurate too, they are gambling all or nothing on the tax increase prop. It will be riots and revolution in that state if taxes get voted down (massive cuts). And a slow death if they vote more taxes. Either way, they are hosed.
If you want to be, press one. If you want not to be, press 2
Republicans are red, democrats are blue, neither of them, gives a flip about you.
