12 Scray facts about the US debt.

[4G63]

Nope.. He definitely has not.

Yes, he has. From August of last year at that. :)

Paul Ryan didn't want to "cut spending" he wanted to end Medicare forcing senior citizens to pick up over half of their medical costs. This will never happen. It is an outrageous idea.

Show me where he said that or where his budget would do that. Please, enlighten us.

[AirFlacco]

LOL - As usual he can't and as usual he didn't furnish a link above.

I did and it was a liberal CBS link that said he raised the debt by $4T.

And I posted many links at the time that Ryan didn't want to do away with medicare and social security, just streamline it. One link I posted said
SS and Medicare count for about 50% of our debt.

The link I posted said seniors currently on SS and medicare would not be affected at all, just the people coming in after them. It's either that or the country will die like Greece.

Ok, here's yet another link about SS and medi taking up 50% of our debt and note the word inflation in the link since that's what we're talking about. Inflation and debt.

This is how liberals starting with FDR have ruined the country.


http://www.garynorth.com/public/department30.cfm

[AirFlacco]

Speaking of FDR, a book was written called TRAITOR TO HIS CLASS. I often wondered how the rich could do this stuff to their own class, taxing
the rich including themselves. OBY, Kerry are rich but preach socialism. FDR was from the ruling Anglo families and hurt their businesses putting
socialistic controls over them and taking wealth away.

Here's some interesting stuff on FDR.
_________________________________________



Though FDR was from a family descended from royalty, and was in the upper Anglo-American class that ruled America (Washington, Adams, Taft, etc)--he acted like a socialist, and made lots of enemies of the businessmen and politicians in the upper class that he went to school and church with.

That's why a new book about him is titled "Traitor to his Class"--because he was rich, privileged, like a royal family. But acted like a socialist and pushed through legislation that was punitive to big business, just like his cousin Teddy Roosevelt had done 30 years before. Actually, not all of FDR's policies were economically sound, but he, along with Teddy Roosevelt and Lincoln, for a variety or reasons is seen as one of our greatest presidents.


Had it not been for WW2 he would have gone down as the worse president ever for destroying the country, just like OBY is actually speeding up.

[AirFlacco]

And speaking of liberalism, socialism and communism,
look where the term NEW DEAL came from.

__________________________________________

In his Presidential acceptance speech in 1932, Roosevelt promised "a new deal for the American people." The term was taken from a 1932 book by the same name, "A New Deal," written by Stuart Chase. That book rapidly disappeared from the shelves after Roosevelt's election. Its contents were the currency of White House economic policy discussion by Tugwell and other central planners around the new President

Much of Chase's book was filled with fulsome praise for Stalin’s Russian model of central planning and its achievements, reflecting the fascination of numerous younger American intellectuals in the early 1930's.

Which finally went bankrupt by the 1980s just as we are going now.

[NCRAVEN]

Yes, he has. From August of last year at that. :)



Show me where he said that or where his budget would do that. Please, enlighten us.

Now you've gone and done it. You brought facts to the discussion, a guaranteed way to get Galen to ignore the thread. :D

[Galen Sevinne]

Yes, he has. From August of last year at that. :)

Show me where he said that or where his budget would do that. Please, enlighten us.[/QUOTE]

So what should Obama have done? Stopped both of the unpaid wars started by "W"? Should he have cut the Medicare "D" unpaid benefits? Should he have ended the tax cuts for the wealthy "Job Creators"? Obama's policies have contributed about 1.5-2 trillion to the debt.

You really want to add the wars, Medicare "D" and tax cuts to the "Job Creators" to Obama's bill? This has been long refuted...then again, don't you still believe that Obama's 2nd birth certificate was photoshopped????

[NCRAVEN]

So what should Obama have done? Stopped both of the unpaid wars started by "W"? Should he have cut the Medicare "D" unpaid benefits? Should he have ended the tax cuts for the wealthy "Job Creators"? Obama's policies have contributed about 1.5-2 trillion to the debt.

You really want to add the wars, Medicare "D" and tax cuts to the "Job Creators" to Obama's bill? This has been long refuted...then again, don't you still believe that Obama's 2nd birth certificate was photoshopped????

[AirFlacco]

[QUOTE
Hey if you want to go buy gold at $1800 a ounce, by all means go buy. I don't see many financial
people making that recommendation.[/QUOTE]


Well Galen, maybe that's because it's high now and hasn't gone over $2,000. You buy low, not high. It's high now.

Actually, my broker advised vs it when it was low. That was after my atty advised me to buy gold at a party at his house in 09 when it was $700. He said he had a lot of his money in it and it was doing nicely. So I mentioned it it to my broker and she said, no, keep it where it is so you get
everything back that you lost. It will take 4-5 years for that. My fund still isn't back to where it was in 08 at $70. I got in at $38. I took her advice and stayed put.

Since then gold went up to $1800 and I would have gotten back what I lost plus more, while my atty made millions off it. I fired her. You don't go in once it's on top. She cost me a lot of money to begin with and kept me from getting more so the experts don't always know Galen.

You keep showing how little you know about money and economics. You should take a night school course.

[AirFlacco]

Oh and Galen - the fact that price of gold more than doubled shows how

much the dollar has weakened. Maybe not to you but it does to the rest of the world. An ounce gold is an ounce of gold and if gold is 100 and goes to 200 an ounce, all it means is the dollar has weakened..



And here's some reasons why gold is still good to get. It's
still the preferred currency around the world and everyone wants it and
paper currency is heading to distruction. Just ask the Euro.

Hey Galen - tell your wife to take all her gold jewelry to the mall to see
what it's worth. One gal im the link got $1,000 for a neckless and ring.


Some more reasons to buy gold:

http://dailyreckoning.com/is-gold-still-a-buy/

[AirFlacco]

Speaking of scary debt, dig this.

Ever wonder where all that TARP $$ went to? The banks you say? Part right.
That $700B ballooned up to over $12T and don't forget, the FEd is private
so the share holders like the Rockefellers, Rothchilds, Goldman Sacs get
the interest the printing generates. There's nothing backing the funny
money.

Bloomberg followed the money
trail but was stonewalled when the Fed Reserve refused to disclose. It's
our money but the Fed is private so Bloomberg sued.

They won in the lower court but it was appealed and looked who was
is listed in the appeal document supporting the Fed. All the banks that got tarp $$.

Keep in mind, printing money usually creates debt because it's not backed.
We don't have $12T in gold to back it, just $261B in gold. Kennedy tried
to kill the Fed Reserve with an executive order and then print new $2
bills that would be backed by silver which would have somewhat relieved a depressed economy and he wanted to pull everyone out of
Vietnam by end of 1965.

Five months after signing the order to kill the Fed he was killed. Reagan
was shot after he tried to keep a campaign promise of streamlining
the gov't as he tried to streamline it. Someone even tried to shoot
Andy Jackson after he killed the National Bank by letting it's charter
expire in the 1835. Lawrence told doctors later his reasons for the shooting. He blamed Jackson for the loss of his job. He claimed that with the President dead, "money would be more plenty" (a reference to Jackson's struggle with the Bank of the United States) and that he "could not rise until the President fell."

But here, the Fed REserve won't disclose their documents and it's our
money.

Scary stuff here and kudos to Bloomberg. Again, the two things that
drive up debt is printing of money and wars.



http://www.pbs.org/wnet/need-to-know...-bailout/3309/

[Greg]

We have monetized our debt and decreased confidence in the dollar to the point that many countries no longer use it as their reserve currency for trading. There will be, and probably soon, a lynch pin event which will cause the dollar to start to fall and like a snowball going down hill the momentum will be hard to stop. Given the amount of dollars just created out of thin air under Greenspan and accelerated under Bernanke as we deficit spend and he finances it with magical new dollars, the fall will probably be steep and hard.

The good news, you might be able to pay off your mortgage with your weekly paycheck!

The bad news, no government, not one, that has ever had this happen has survived. Not one.

So yes, Galen, this is a very dangerous game our politicians are playing with those running the Fed. And like the previous point, not once has it worked.

[Galen Sevinne]

We have monetized our debt and decreased confidence in the dollar to the point that many countries no longer use it as their reserve currency for trading. There will be, and probably soon, a lynch pin event which will cause the dollar to start to fall and like a snowball going down hill the momentum will be hard to stop. Given the amount of dollars just created out of thin air under Greenspan and accelerated under Bernanke as we deficit spend and he finances it with magical new dollars, the fall will probably be steep and hard.

The good news, you might be able to pay off your mortgage with your weekly paycheck!

The bad news, no government, not one, that has ever had this happen has survived. Not one.

So yes, Galen, this is a very dangerous game our politicians are playing with those running the Fed. And like the previous point, not once has it worked.

Actually it has worked and worked without inflation. and you doomsday scenario makes its exciting for amygdala-based thinkers but really the scary deficit stuff is losing its steam. People are starting to catch on that deficits never seem to matter when Republicans are in office but suddenly everything must stop when a Democrat comes in to once again fix the mess the Republicans cause. Something about a 13000 DOW also makes me question the confidence factor.