What 1 Trillion Dollars loocks like

[whatevah]

Ok, I just have one innocent little question... where is all this money coming from? I thought the US has a crazy deficit. Meaning, we owe the rest of the world (primarily China, I believe) a whole bunch of money.

 

[wolfpackjeeper]

remember the 1.3trillion deficit that Obama campaigned against? Yea, after this fiscal year(ends in september, remember now) we will have tripled it. When he has been saying that he will half the deficit by the end of his term, he means then new high that is currently being installed by himself and congress.

They have decide that they they can spend whatever they want, and are currently using the excuse that since bush and the republicans got to, they should too.

 

[5-90]

Ok, I just have one innocent little question... where is all this money coming from? I thought the US has a crazy deficit. Meaning, we owe the rest of the world (primarily China, I believe) a whole bunch of money.

Essentially, we're borrowng from the future. After all, the future hasn't run out of money. Yet.

Y'ask me, the best thing the government could have done was to do nothing. Why?

1) They can't go around handing out money they don't have, and can't make any value. Printing all of this money is just devaluing money already in circulation.
2) It's got to come from somewhere. We're saddling future generations with debt.
3) The primary cause of this economic decline has been greed. People getting in over their heads - because they could - and execs overcompensating themselves because the money was there. One thing Obaba is doing that I do agree with - he's capping exec pay for banks to be bailed out now. As far as I'm concerned, there's no reason that anyone should make more than POTUS - he's got the toughest job in the country (and he's somewhat overpaid. Vice the military, which is woefully underpaid.)
4) We don't need new money put into circulation, we need money already printed to be put back into circulation, instead of lining various pockets that don't really need it.
5) This is going to end up increasing taxes, further devaluing the dollar. Oops.
6) Of course, which taxes are going to go up? They can't raise taxes on the middle and lower class - there's a revolt brewing already, I'm sure. They can't raise taxes on the upper class - that would kill campaign funding. Busness taxes are what's left - and raising those taxes will kill business. This will reverse the stimulation of the economy that was intended - since there will be fewer places domestically to spend the money, and more dollars will go overseas. Oops.

 

[kdailey4315]

Y'ask me, the best thing the government could have done was to do nothing.

EXACTLY. Things will correct themselves. Just look at Japan and the "lost decade." The government kept pouring billions into their banking system and it only made things worse. Sound familiar?

 

[5-90]

Pelosi is ready for another stimulushttp://www.foxnews.com/politics/2009/03/10/pelosi-congress-needs-door-open-second-stimulus-package/

We are going to need more taxpayer money ... I think another stimulus package is a reasonable assumption because of the way things are going

Why not? I mean, it's not coming out of his pocket, right?

 

[CanMan]

Everyone *I* Know spent it right away.

My $600 is bolted to the jeep.

Yep.

Giving each of us whom populated the US $260 (roughly the equivalent of $780B) would have done more to stimulate the economy than providing the same bailout to the banks.

How about us TAXPAYERS get some bailout money, NOT non taxpayers. I HATE seeing my tax money going to some mooch.

 

[JNickel101]

Problem with the "bailout"....

Banks gave out loans to people who can't repay them. Banks start losing money b/c they're not getting paid back the money they're owed....

Gov't gives banks money to save them.

Banks still charging people for loans they can't pay back, which means, this "bailout" they got will get squandered, and the gov't will never get repaid by the banks.

Anyone see where this is going?

BETTER bailout:

Gov't pays off loans that are in default OR forces banks to renegotiate terms of loans, making them fixed APR instead of ARM. This not only fixes the banks, but also stimulates the economy because now people can afford their mortgages OR, hell, they just don't have a mortgage anymore. Hell, I hate the free handout just as much as the next person, but a bailout/stimulus package full of pork and ass-backwards handouts to the banks isn't fixing anything.

Current bailout completely FAILS common sense test.

 

[Darky]

I read somewhere that all of these bailouts plus money already promised by the Federal Reserve Bank (who isn't even associated with a branch of our gov't, and half of whom are foreign businesses) will total nearly $10,000,000,000,000. That's ten TRILLION. If that money were to be spent instead on paying off mortgages, we could pay off 90% of Americans mortgages. Imagine, my $700/month mortgage becomes $158 ($58 for the mortgage, $100 into escrow to set aside for property taxes). Think of how "stimulated" we and the economy would be with an extra few hundred dollars a month.

 

[cal]

I read somewhere that all of these bailouts plus money already promised by the Federal Reserve Bank (who isn't even associated with a branch of our gov't, and half of whom are foreign businesses) will total nearly $10,000,000,000,000. That's ten TRILLION. If that money were to be spent instead on paying off mortgages, we could pay off 90% of Americans mortgages. Imagine, my $700/month mortgage becomes $158 ($58 for the mortgage, $100 into escrow to set aside for property taxes). Think of how "stimulated" we and the economy would be with an extra few hundred dollars a month.

And where did you read this BS?

 

[ChevelleSSLS6]

Really, that's how you're representing Socialism? Ignorance really is bliss.......

I agree with you. Government ownership of businesses IS Socialism.

Up until around 1930, Americans didn't have any income tax, and the government just ran the military and the foregin affairs of the day.

Sure, I'm ok with a federal highway system, parks system, and and things like that, but all of these social programs is slowly introducing a mindset of 'the government has to babysit me since I cannot care for myself' mentality, and things such as education should be left to the state and local levels. America had the best schools in the world when educators ran the schools. Ever since politicians took them over, they've gone downhill.

Okay, today's political rant is over.:soapbox:

 

[ChevelleSSLS6]

BETTER bailout:

Gov't pays off loans that are in default OR forces banks to renegotiate terms of loans, making them fixed APR instead of ARM. This not only fixes the banks, but also stimulates the economy because now people can afford their mortgages OR, hell, they just don't have a mortgage anymore. Hell, I hate the free handout just as much as the next person, but a bailout/stimulus package full of pork and ass-backwards handouts to the banks isn't fixing anything.

Current bailout completely FAILS common sense test.

Agreed. Lots of people got f*d with ARMs when the rates went up. Sure they might have overspent but if they can squeak by with a lower rate, that's better than forclosing the place.

Those who save and live within our means, well, I guess we'll pay for those who make $40,000 a year and have a $300,000 house.:flamemad::flamemad::flamemad:

 

[nick86]

Imagine, my $700/month mortgage becomes $158 ($58 for the mortgage, $100 into escrow to set aside for property taxes). Think of how "stimulated" I and the economy would be with an extra few hundred dollars a month.

Figures, fricking moocher. Glad to see my tax $'s paying your bills, that YOU agreed to pay. It's loser's like you that voted for this a$$hat for president.

 

[kujito]

@silent_bob: Re-read his post, or just the first word of the portion you quoted, before you fly off the handle and start calling him names. You are WAY OUT OF LINE.
He said "IMAGINE" how things COULD go. He did NOT say that's how it IS. He used his mortgage payments as an example of the results if this 'stimulus' money was used to pay down ALL OF OUR mortgages.

 

[Darky]

Figures, fricking moocher. Glad to see my tax $'s paying your bills, that YOU agreed to pay. It's loser's like you that voted for this a$$hat for president.

Quit bein racist. Just cuz my name is Darky doesn't make me a moocher.








PS: Nominated. Nothing new for you, right?

 

[XJEEPER]

Capitolism corrects:
#1- stupidity
#2- arrogance
#3- greed

If you make unwise investments and lose money/your house/your job/ your family, you learn not to make these unwise investments again, unless you are really stupid.

If you are so arrogant to think that you can get away with scamming the system, playing the numbers or working a Ponzi scheme, you will get caught and, while folks who bought in to this get screwed, the majority learn a valuable lesson. Some don't-Refer to #1.

If you become greedy, then you are more likely to dabble in the areas covered by #1 and #2, which ultimately catch up to you and you suffer the consequences.

Consequence Corrects Conduct.



This is the complete opposite of what is taking place right now in our country. It's up to us to not allow our elected leaders to continue making these decisions and passing bills that penalize the responsible and protect the irresponsible, stupid, arrogant and greedy.

This folks, is Socialism.

 

[bigalpha]

And where did you read this BS?

I don't know, but I like it.

 

[Darky]

And where did you read this BS?

I'll have to dig through my "files". Pretty sure it came in one of the e-mails I subscribe to. They compile news articles from various sources.

 

[nick86]

Quit bein racist. Just cuz my name is Darky doesn't make me a moocher.








PS: Nominated. Nothing new for you, right?

Nothing I said was racist. I was actually making fun of what you said. The sad truth is your statement is what alot of people are hoping for.

 

[bigalpha]

Nothing I said was racist. I was actually making fun of what you said. The sad truth is your statement is what alot of people are hoping for.

You're right.

In fact, I'm kind of hoping for it. I'd rather my (and your) tax dollars go towards paying off mortgages instead of lining pockets and throwing parties for CEOs.

I live in a house I can afford and I pay all my bills on time. However, I wouldn't mind not having a mortgage.

 

[nick86]

I just feel that their are too many people out there that feel it's the schools job to raise thier kids & teach them right from wrong.
And it is the goverments job to feed, clothe, & house their family if they can't afford to. Yet they keep having more kids, keep running up credit cards, keep buying chit they could do without.