National debt soars to highest level since WWII

[Pony Boy]

The federal debt will represent 62% of the nation's economy by the end of this year, the highest percentage since just after World War II, according to a long-term budget outlook released today by the non-partisan Congressional Budget Office.

Republicans, who have been talking a lot about the debt in recent months, pounced on the report. "The driver of this debt is spending," said New Hampshire Sen. Judd Gregg, the top Republican on the Senate Budget Committee. "Our existing debt will be worsened by the president's new health care entitlement programs…as well as an explosion in existing health care and retirement entitlement spending as the Baby Boomers retire."

At the end of 2008, the debt equaled about 40 % of the nation's annual economic output, according to the CBO.
The report comes as the National Commission on Fiscal Responsibility and Reform meets today. The group, created by President Obama, is expected to issue recommendations in December to curb the debt – a point Democrats raised today. Hilarious!

The CBO report "reinforces the importance of the work being done right now by the president's fiscal commission," said Sen. Kent Conrad, D-N.D., who chairs the Senate Budget Committee. LOL "We simply cannot allow the federal debt to explode as envisioned under CBO's projections. The economic security of the country and the quality of life for our children and grandchildren are at stake."

http://content.usatoday.com/communities/onpolitics/post/2010/06/national-debt-soars-to-highest-level-since-wwii/1

26778

This spend, spend spend is hard work folks ..... got to go time for golf

[Rohirrim]

Yep. Bush sure left this country in a sorry state.

[Smiling Assassin27]

Yep. Bush sure left this country in a sorry state.

...and Obama floored the gas, faster still toward that oncoming iceberg.

I'd invoke a drunk sailor analogy, but drunk sailors actually work hard to earn the money they irresponsibly spend.

[TonyR]

...and Obama floored the gas, faster still toward that oncoming iceberg.

Damn that Obama for invading Afghanistan and Iraq, creating and then bursting a housing bubble and an economy built on a house of cards, and causing a massive oil leak in the Gulf!!! Damn you Obama!!! Damn you!!!

[Rigs11]

...and Obama floored the gas, faster still toward that oncoming iceberg.

I'd invoke a drunk sailor analogy, but drunk sailors actually work hard to earn the money they irresponsibly spend.

mccane would have done waht exactly? added to the deficit with tax cuts?allowed millions of americans to go on without health insurance?

[Smiling Assassin27]

mccane would have done waht exactly? added to the deficit with tax cuts?allowed millions of americans to go on without health insurance?

you sure love to set up those strawmen and knock 'em down, eh rigsy? if you are asking if mccain would've matched obama's spending, no, he would not have. It's turning out that a Democrat-controlled Congress with a tool in the WH that used to be part of that Dem-Congress is like that leaking pipe in the gulf if left unchecked.

you create this irrelevant question about mccain in hopes that the White House led spending spree--RECORD spending, btw--will not be noticed. well, anybody with a pulse and a willingess to wade through rhetoric to see the data underlying it will not give obama and this democratic controlled congress a free pass on this. the previous administration (and Congresses, as they are the ones who make the budget, not the Executive...but i digress) took a debt load that was kept relatively stable for 7 years and blew it up and so rightly get their share of the blame. the incoming administration chose to accelerate spending, not curtail it. and the debt load has exploded at record pace, but with horrible economic results. own it because it's yours. not mccain's, not bush's...obama's.

[Pony Boy]

mccane would have done waht exactly? added to the deficit with tax cuts?allowed millions of americans to go on without health insurance?

What part of "The federal debt will represent 62% of the nation's economy by the end of this year" do you lefty loons not understand?

Read my lips that's 62% and rising and add some double-digit unemployment along with taxing small business off the charts..... and getting our ass kicked all over the globe .........yes nice job you left wing losers....

[Meck77]

Anyone realize that very thread and comment on this forum reads the same?

Anyone want to guess what LABF might have to say on this subject?

These politicians have you people so wound up and fighting amongst yourselves while they make millions leaving you the scraps and the bill.

[barryr]

Got to love the liberal typical responses to news like this with "Bush did it too" or "McCain would have done it too" or the even better going into the vault and trotting out Reagan. Just so easer to change the subject when their messiah Obama doesn't look so good LOL

[Popcorn Sutton]

What part of "The federal debt will represent 62% of the nation's economy by the end of this year" do you lefty loons not understand?

Read my lips that's 62% and rising and add some double-digit unemployment along with taxing small business off the charts..... and getting our ass kicked all over the globe .........yes nice job you left wing losers....

Who are you kidding? Who's the loony? You act like the last Republican President worked so hard to reduce the deficit and debt. You are not speaking from a position of power so I'd lay off the partisan rhetoric. Neither party has shown the ability to temper spending and be fiscally responsible.

Remember: Approx 1.2 Trillion of last years ~ 1.7-1.8 trillion deficit was directly attributable to Bush policy. Taking the total toll of Bush debt over 5 trillion.

This year less can be attributed to Bush policy, but the over 2 trillion in tax cuts (during war time) with no spending cuts still haunt our deficits. Not to mention the entitlement increases under Bush and a Republican controlled congress.

[TailgateNut]

What part of "The federal debt will represent 62% of the nation's economy by the end of this year" do you lefty loons not understand?

Read my lips that's 62% and rising and add some double-digit unemployment along with taxing small business off the charts..... and getting our ass kicked all over the globe .........yes nice job you left wing losers....

That percentage which you cling to wouldn't have anything to do with a shrinking economy, would it?

The collapse of the housing market, and the exporting of manufacturing isn't solely attributable to Obama. Your hero had quite a but to do with the economy going into the crapper, which, in turn, increases that percentage you use as a crutch to beat on Obama.

[Popcorn Sutton]

Got to love the liberal typical responses to news like this with "Bush did it too" or "McCain would have done it too" or the even better going into the vault and trotting out Reagan. Just so easer to change the subject when their messiah Obama doesn't look so good LOL

Gotta love that you only speak up about spending, debts and deficits now...

[Smiling Assassin27]

Anyone realize that very thread and comment on this forum reads the same?

Anyone want to guess what LABF might have to say on this subject?

These politicians have you people so wound up and fighting amongst yourselves while they make millions leaving you the scraps and the bill.

Sarah Palin is satan and Glenn Beck is the antichrist..


Sincerely,

LABF

[TailgateNut]

Got to love the liberal typical responses to news like this with "Bush did it too" or "McCain would have done it too" or the even better going into the vault and trotting out Reagan. Just so easer to change the subject when their messiah Obama doesn't look so good LOL


Icorrigable/ whiney ass BITCH!

[barryr]

Gotta love that you only speak up about spending, debts and deficits now...

Yeah, I was always for the government to be spending a ton. Dope.

[Popcorn Sutton]

Yeah, I was always for the government to be spending a ton. Dope.

Is that why you were so outspoken against the Bush Administration?

[cutthemdown]

mccane would have done waht exactly? added to the deficit with tax cuts?allowed millions of americans to go on without health insurance?

LOl insurance. The hit to the economy from that hasn't even kicked in yet. None of that stuff matters for quite some time.

[Pony Boy]

This year less can be attributed to Bush policy, but the over 2 trillion in tax cuts (during war time) with no spending cuts still haunt our deficits. Not to mention the entitlement increases under a Bush with a Republican controlled congress.

One of these days you pin-hole babies are going to have to let go and try to do this on your own. Stop with all the Bush bashing and look to see who's driving the short bus.......it's Obama. You lefty loons need to be tarballed and ran out of town on a rail....

[Meck77]

Blame blame...mother ****ing blame.

We're all to blame for this ****. Each and everyone of us for allowing it to happen. Quit your crying and get to work.

Most of you were living large during the Bush era whether you want to admit it or not. Now you claim things are better under Obama. We're in a **** sandwich regardless of which president you want to blame. I find it easier just to accept personal responsibility for it.

[Popcorn Sutton]

One of these days you pin-hole babies are going to have to let go and try to do this on your own. Stop with all the Bush bashing and look to see who's driving the short bus.......it's Obama. You lefty loons need to be tarballed and ran out of town on a rail....

I'm NOT a Lefty Jack Ass. I support Ron Paul, Paul Ryan among others. However, I'm not an ignorant jack ass like yourself. It's Obama and BUSH!! Get a clue.

Economic policies from Bush will haunt us for some time...Until you own this fact, you have no credibility. You are not speaking from a power position if you support the economic policies of Bush and blame the entirety of our country's issues on Obama. I've seen you do this many times and quite honestly, it makes you look like a dumb ass.

[Popcorn Sutton]

If the Republicans want to win back the majority, they need to take the position of Paul Ryan who acknowledges the shortcomings of the Republican party (esp. during the Bush reign). He acknowledges Obama was handed a **** sandwich. Then he tells people how Obama is only piling on more **** and here is my plan to get us back on track. This barryr, PonyBoy act of Liberals and Obama are solely to blame is only serving to divide us more.

[Rigs11]

you sure love to set up those strawmen and knock 'em down, eh rigsy? if you are asking if mccain would've matched obama's spending, no, he would not have. It's turning out that a Democrat-controlled Congress with a tool in the WH that used to be part of that Dem-Congress is like that leaking pipe in the gulf if left unchecked.

you create this irrelevant question about mccain in hopes that the White House led spending spree--RECORD spending, btw--will not be noticed. well, anybody with a pulse and a willingess to wade through rhetoric to see the data underlying it will not give obama and this democratic controlled congress a free pass on this. the previous administration (and Congresses, as they are the ones who make the budget, not the Executive...but i digress) took a debt load that was kept relatively stable for 7 years and blew it up and so rightly get their share of the blame. the incoming administration chose to accelerate spending, not curtail it. and the debt load has exploded at record pace, but with horrible economic results. own it because it's yours. not mccain's, not bush's...obama's.It's a credible question. bush left us in such a disaster that either president would have had a hard time. You are ready to pass judgement on obama a year and a half into his presidency and still will not admit that the deficit is in large part due to the previous admins "conservatism".can you at least have the balls to break down what part of the deficit was handed over to obama?You yahoos scream about unemployment and you come in here with a straight face and tell me that mccane would have done better? and still spent less than obama?

[barryr]

Is that why you were so outspoken against the Bush Administration?

Yeah, I agreed with all that he was doing, especially towards the end. Try again genius. Continue to try to change the subject, it's funny watching you have nothing else to do but spin :thumbsup:

[Rigs11]

LOl insurance. The hit to the economy from that hasn't even kicked in yet. None of that stuff matters for quite some time.

ahh but obama is already being crucified for it right?

[Popcorn Sutton]

Yeah, I agreed with all that he was doing, especially towards the end. Try again genius. Continue to try to change the subject, it's funny watching you have nothing else to do but spin :thumbsup:

Is that why you were so outspoken and critical?

[Rigs11]

What part of "The federal debt will represent 62% of the nation's economy by the end of this year" do you lefty loons not understand?

Read my lips that's 62% and rising and add some double-digit unemployment along with taxing small business off the charts..... and getting our ass kicked all over the globe .........yes nice job you left wing losers....

as usual..no solutions only criticsm. Can't wait till november.

[L.A. BRONCOS FAN]

^

Funny how the rightards weren't starting threads to express their "concern" about the debt during the eight years when BushCo was creating more of it than all previous presidents combined.

[L.A. BRONCOS FAN]

Anyone want to guess what LABF might have to say on this subject?



Something really awful (read: suggests your boy Bush and your party might be responsible in some way.)

Anticipated response: You lash out via neg rep again like a petty third-grader and a coward.

[L.A. BRONCOS FAN]

Anyone want to guess what LABF might have to say on this subject?



Hey man, if you have something to say to me, then why not say it here in public?

Why hide behind all that negative rep?

Is it because you're afraid people will see you're a douche?

[Meck77]

I wonder if post 40,701 will offer anything different then the other 40,700.

[L.A. BRONCOS FAN]

I wonder if post 40,701 will offer anything different then the other 40,700.

Dunno, but if you ever do get that far, it will certainly represent a whole lot of wasted server space. Ha!

[cutthemdown]

If the Republicans want to win back the majority, they need to take the position of Paul Ryan who acknowledges the shortcomings of the Republican party (esp. during the Bush reign). He acknowledges Obama was handed a **** sandwich. Then he tells people how Obama is only piling on more **** and here is my plan to get us back on track. This barryr, PonyBoy act of Liberals and Obama are solely to blame is only serving to divide us more.

Yep if I was running party I would apologize to nation for letting them down. Say the reason someone like Obama could get elected and make things this bad is because we were that bad. We screwed up so bad this is what you had to do to show us how upset you are.

The say we get it, we are going back to cutting spending, lowering taxes, cutting free rides for slackers like me!!!

[Meck77]

Dunno, but if you ever do get that far, it will certainly represent a whole lot of wasted server space. Ha!

You speak as if you've achieved something? I'll need a couple decades to reach your level of greatness.

So how about those Broncos? Oh and always wanted to know. What do you think of George Bush?

[L.A. BRONCOS FAN]

The say we get it, we are going back to cutting spending, lowering taxes, cutting free rides for slackers like me!!!

No.

We need to cut free rides for billionaires and multinational corporations.

That's what needs to happen - and it's what everyone is afraid to discuss.

[L.A. BRONCOS FAN]

You speak as if you've achieved something?

What have you achieved (aside from being a silver spooner/trust fund slacker?)

[Meck77]

lol......

Fight on LA! Fight on! You will win this thing! Another 40,000 posts should do it! Hmm how does one have the time to post 40,000 times anyway? You must have a lot of extra time "Slacker".

[L.A. BRONCOS FAN]

lol......

Fight on LA! Fight on! You will win this thing!

Did you ever hear the expression "it takes two to tango?"

You're still here sparring with me, so you must have a fight of your own.

Another 40,000 posts should do it! Hmm how does one have the time to post 40,000 times anyway? You must have a lot of extra time "Slacker".

I'm sure you'd have ~40K by now too if (a) you had anything worthwhile to say, and (b) if you could be bothered to lift a finger.

[BroncoBuff]

http://img188.imageshack.us/img188/7730/nationaldebt1.gif

Clearly a Republican problem.

[L.A. BRONCOS FAN]

http://img188.imageshack.us/img188/7730/nationaldebt1.gif

Clearly a Republican problem.

This will most certainly earn you a neg rep nastygram from Meck and the rest of the Bush Youth. ;)

Nothing rubs the flying monkey right the wrong way quite like a presentation of the facts about their reverse Robin Hood party.

[TonyR]

...the reason someone like Obama could get elected and make things this bad...

I think this is the type of flawed reasoning that makes some defensive. Obama hasn't "made things bad". You can certainly criticize for not more effectively improving/fixing things but you can't blame him for the bad state of things. The economy and the wars were not "caused" by Obama and the issues are considerably more profound than one man. This is a collective clusterf*ck, not an Obama clusterf*ck. Somewhat of a tragedy of the commons.

[L.A. BRONCOS FAN]

I think this is the type of flawed reasoning that makes some defensive. Obama hasn't "made things bad". You can certainly criticize for not more effectively improving/fixing things but you can't blame him for the bad state of things. The economy and the wars were not "caused" by Obama and the issues are considerably more profound than one man. This is a collective cluster****, not an Obama cluster****. Somewhat of a tragedy of the commons.

Remember: The people you are addressing with this post are a bunch of amoral, apathetic children who only care about the extent to which the issues you mentioned can be used as political footballs.

Eight years of Bush proved once and for all that these jackals couldn't give a sh*t less about the welfare of this country and its people - only "winning" matters.

[cutthemdown]

I think this is the type of flawed reasoning that makes some defensive. Obama hasn't "made things bad". You can certainly criticize for not more effectively improving/fixing things but you can't blame him for the bad state of things. The economy and the wars were not "caused" by Obama and the issues are considerably more profound than one man. This is a collective cluster****, not an Obama cluster****. Somewhat of a tragedy of the commons.

Well some of that was more discussing strategy. Political strategy is often not rooted in reality completely, but more some of it true and some of it opinion and inference.

My point is I think that strategy could work if Bama's approval rating dips into low 40's

[cutthemdown]

I do agree with LABF though that big biz has to be forced to create more jobs in America. We need to do it with tax breaks for companies that hire Americans and penalties for ones that outsource. I know its way complicated with all our nafta and international agreements but at some point we have to make the American worker more appealing to hire.

[Popcorn Sutton]

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[L.A. BRONCOS FAN]

I do agree with LABF though that big biz has to be forced to create more jobs in America. We need to do it with tax breaks for companies that hire Americans and penalties for ones that outsource. I know its way complicated with all our nafta and international agreements but at some point we have to make the American worker more appealing to hire.

Yes, that's true, but it doesn't go far enough.

Corporations need to start paying their fair share of taxes again - especially now that the SCOTUS has ruled that corporations are "persons."

I have posted articles about that GAO study done two years ago that found most American corporations paid no income taxes whatsoever. None. Nada.

So, in other words, regular working people like you and I are asked to shoulder the load while big business gets a free ride.