Sticker Shock....

The Obama administration has just upticked it's 10 yr deficit projection (the amount more the government spends than takes in)
from a staggering $7.1 trillion to a more digestible $9.1 trillion *vomits*. But at least they will modify their projection for this year down from $1.84 trillion to $1.58 trillion.....by removing $250 billion set aside for banks (no idea why that isn't included..maybe it makes him feel better.

Maybe he wants the US to default....why is anyone supporting him?

We already have single payer government systems...

Medicare , the government run single payer medical plan with 40 million subscribers and Social Security, the government run single payer (retirement?) plan. Both programs are a fiscal disaster with a combined $107 TRILLION (that's $107,000,000,000,000) in unfunded liabilities; 7 times the national GDP and almost 10 times the national debt. It is projected in 8 yrs Medicare will be bankrupt (technically it already is since the present federal debt of $11.6 trillion exceeds 'money in the bank').

Read the eye popping article HERE.


And people wonder why I don't want another government run program.....geee let me think....

Another auto bailout...new $2.4 billion on top of the new $2 Billion for Clunker cash...

Hey peoples...wake the f$ck up....another bailout!!!!!! After over $130 billion plus for the auto industry..I have no idea because there are so many bailouts.

Cash for Clunkers tanked in 5 days at $1 billion...wow amazing government management...amazing. Then another $2 billion to bailout the bailout...plus another $2.4 billion the Prez took with him to bribe workers today at an RV plant (now there is a green industry...they get about 13 miles to the gallon and weigh twice as much as a car...cash for RV's next?)...he has to bribe workers to get support...oh yea ACORN does that..never mind....

Hey American union workers....you are being suckered like no ones business...how much is your pride worth?...you are screwing everyone else.....gain some fortitude....be an American instead of a communist leach!!!!!

IT'S TAXPAYER MONEY>>>OUR MONEY!!!!!!!!!!!!! Wake the F up America!!!!!!!!!!!

Deficit continues....

Today the U.S. Deficit (more money spent than taking in) reached over 1 trillion dollars ($1,000,000,000,000).

"The US budget deficit reached more than one trillion dollars for the current fiscal year in June as the government wrestled with a prolonged recession, official data showed Monday.

Nine months into the 2009 fiscal year that ends September 30, the budget deficit widened by 94.316 billion dollars in June to 1.086 trillion dollars, according to the Treasury's monthly statement of receipts and outlays."

Complete article HERE.

Of Deficits and Debt...

The U.S. Government continues to spend out of control. But, what are these words deficit and debt the government keeps tossing around.

Check out the U.S. Debt Clock....it will turn your stomach.

Deficit is the amount of money going out the door verses the amount received in a year (via taxes receipts). This is a short term view of spending. Present U.S. Government Deficit year to date is $965 billion and rising (+$965,000,000,000) at a rate of ~ $600,000 every 10 seconds.

Debt is the amount of money borrowed to pay for something..like using a credit card to by a TV. The problem arises when you don't pay down your credit card and debt accumulates...this is what the U.S. Government is doing. Debt is the accumulation of deficits. The government says it backs its received credit (debt) with the value of American production...in other words the work, goods and services you and I do. Our sweat and labor is the governments bargaining chip.

Presently, the government is in debt $11.39 trillion and rising (+$11,390,000,000,000) at a rate of ~ $1 million every 3 seconds.

The government is banking on 2 things to get out of it's present pickle...a robust recovery in the economy and raising taxes on those making over $200,000 (or $250,000 or $300,000...the number keeps changing) to pay for the debt, BUT there is a big problem, well several. The government is adding new programs that require even more funding. So instead of reining in spending, they are increasing it. This will accelerate the deficit and thus debt. Taxing the only group left with any income to spend in the economy just doesn't seem to smart. So if the 'wealthy' have less money to buy, how exactly is the economy going to get going?

Oh I forgot to mention 70% of the US economy is generated by the U.S. consumer. If we have no money to buy items other than groceries...how exactly is the economy supposed to bounce back? Manufacturing and service sectors will continue to collapse putting more people out of work. Even less revenue will be coming into the government. We are stuck in a vicious circle, and it is only going to get worse.

Call your congress critter and tell them to knock it off. Time to make the tough choices and get out of debt...that really will stimulate the economy.