Fiscal cliff deal will add $4 trillion to US deficit, says CBO – Telegraph
Disrupting the Borg is expensive and time consuming!
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The $4 trillion added to federal deficits over the next decade is not the issue. It’s the 16 trillion that is owed now, unfunded liabilities that could be as high as an order of magnitude greater, and the 1 trillion plus per year that the US government is burning through now. The rest of the world is not going to keep loaning the US that sort of money for much longer as it’s becoming increasingly obvious that there is no way that it can be paid back. It’s a dangerous game to be playing. If the bubble does burst, burst bubbles tend to deflate rather rapidly.
And you wonder why they are going after guns soo hard now.
$4 trillion, $16 schmillion, that’s nothing, the biggie is the unfunded Social Security, Medicare, and federal employees’ future retirement benefits—already exceed $86.8 trillion, or 550% of GDP.
http://online.wsj.com/article/SB10001424127887323353204578127374039087636.html
For possible outcomes, see Argentina.
Is there anyone in the audience who expected another outcome.If by now you still trust these pathological liars , nobody can help you. As long as they can print dollars they can pay the bill.Your savings will be worthless but that’s the price to pay to have these people in power.Just hope winters will be short and warmer because under their plan energy prices will necessarily skyrocket (in dollars).
http://ssheltonimages.com/img/3d/3d3/Corporate_Tax_Cuts_Screwing_States.jpg
‘Happy’ New Year
Printing money is now the best outcome the US can hope for. Perhaps this won’t end in catastrophe but an incredibly dangerous game is being played right now.
We have the same disease here in Australia.
Pathological liars in federal government who couldn’t organise a piss up (ie beer party) in a brewery!
And the sad thing is you can’t escape these morons. They will hyperinflate until our money is worthless, tax us into the grave if we did save anything, and make it illegal to think or do or say anything independently. And spin it so that it sounds like they are doing a fantastic job.
Linda Blair has nothing on the current government PR departments of Australia and the US.
Too true.
And there’s no escape. Morons vote for morons.
“Obama: more work needed.”
Ain’t that the literal truth.
Some of us have been saying that for 4 years!
It’s also interesting how the media narrative changes over time. I remember during the Reagan presidency the only thing the media wanted to talk about was government debt which at that time was around 50% of GDP. Now government debt is over 100% of GDP and the only thing the media wants to talk about is how critically important it is for the government to be allowed to spend more money.
But…. but.. Obama said he would reduce the debt by 5 trillion if he was reelected!
I am afraid the problems may now be impossible to fix without an insurrection of some kind. This is what happens after 30+ years of not cutting spending and not raising enough revenue to pay for all the spending. There is plenty of blame on both sides.
From the picture I guess nobody remembered to switch the Biden automaton on.
I thought the “Fiscal Cliff” deal was the price Obama was forced to pay by the Republicans for agreement to raise the debt “ceiling” last time he ran out of money to pay the bills.
Now the debt ceiling needs raising again and all of them panic over the last deal ??
WTF is going on ? Apparently the only debt that matters is mine – everybody else seems to get a free pass.
Think of the money you owe as “stimulus”.
“There are two ways to conquer a nation…one is by war. The other is by debt.”
John Adams
Steve, you have got to see this story which is making the rounds in local newspapers up here …
We got a new political hero in NY State.
Oh man, I’m sorry. This was the wrong thread for this. Please delete at will.
That is fantastic news. Thanks.