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megawill
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Joined: 20 May 2002
Posts: 1552
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 Posted: 11/19/04 - 10:45 Post subject: does this concern anyone besides me?
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phillycat
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Joined: 14 Jul 2004
Posts: 1953
Location: Da hood
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Posted: 11/19/04 - 10:56 Post subject:
The first thing that comes to mind is the Osama tape where he pretty much says that his plan is to have the US bankrupt ourselves....
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jrjo
Gone Fishin
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Joined: 15 May 2002
Posts: 16451
Location: Lake Wobegon, MN
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Posted: 11/19/04 - 11:01 Post subject:
| article wrote: | | This year, under White House pressure, House and Senate Republicans simply opted against adopting a 2005 blueprint for tax and spending policy, rather than accede to the wishes of Senate Republican moderates to reimpose pay-as-you-go rules. |
I guess I can take the 'moderate' label. $8-trillion... good gravy. 
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MastrBrewr
Saccharomyces cerevisiae
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Joined: 24 Sep 2003
Posts: 6974
Location: outside
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Posted: 11/19/04 - 11:32 Post subject:
So much for fiscal responsibility.
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prohemp
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Joined: 14 May 2002
Posts: 7716
Location: in the cradle of liberty
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Posted: 11/19/04 - 11:37 Post subject:
| MastrBrewr wrote: | | So much for fiscal responsibility. |
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cherylpf
crazy cat lady
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Joined: 14 May 2002
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Posted: 11/19/04 - 11:46 Post subject:
Not just you. I saw a great bumper sticker the other day that was something to the effect of "Your honor student will pay for Bush's tax cut" of course, this was right next to a "I can't afford to vote Republican" sticker...
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RexRacer
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Joined: 17 Aug 2004
Posts: 814
Location: A pancake house of ineffable crappiness
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Posted: 11/19/04 - 11:52 Post subject:
| phillycat wrote: | | The first thing that comes to mind is the Osama tape where he pretty much says that his plan is to have the US bankrupt ourselves.... |
Ding Ding Ding!!! Give that lady a cigar. And do it soon, 'cause we won't be able to afford any soon enough when this bill comes due 
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Sahara
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Posted: 11/19/04 - 12:25 Post subject:
| the article wrote: |
Economists and budget hawks fear that rising deficits are contributing to the steadily declining value of the dollar, which will increase consumer costs, and that those deficits eventually will drive up interest rates and slow the economy. |
on the micro-scale... it will effect each and every one of us
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elkid
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Joined: 18 Nov 2002
Posts: 8353
Location: hiding out in Philly
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Posted: 11/19/04 - 12:31 Post subject:
| Quote: | Just the increase in the debt ceiling over the past three years is nearly 2 1/2 times the entire federal debt accumulated between 1776 and 1980.
A recession, a sluggish economy and five tax cuts in four years — coupled with soaring defense spending on wars in Iraq and Afghanistan and rising domestic spending — have turned record surpluses that Bush inherited into a record deficit of $413 billion in the past fiscal year. |
That says it all. We need to stop spending our money trying to "fix" other countries and instead focus on fixing our own.
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RexRacer
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Joined: 17 Aug 2004
Posts: 814
Location: A pancake house of ineffable crappiness
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Posted: 11/19/04 - 14:23 Post subject:
| Quote: | | Economists and budget hawks fear that rising deficits are contributing to the steadily declining value of the dollar |
This totally obscures the fact that the Bush administration is purposely letting the dollar slide to make our exports more attractive. Seems like basic macroeconomics but it can have serious pitfalls, namely because people keep dollars in reserve as the 'currency of choice' as well as that oil is paid for worldwide in dollars, called Petrodollars.
If our currency becomes far less valuable than the Euro the world will have less interest in holding dollars. Worse for us, if the world switched to paying for oil in say Petroeuros, our economy would sink like the proverbial lead balloon almost overnight, and no amount of Fed tinkering would get it off the ground again for a long time.
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megawill
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Joined: 20 May 2002
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Posted: 11/19/04 - 14:44 Post subject:
Take a look at the following graph...very interesting...especially for all of you concerned about how your 'tax dollars' are being spent...it looks like all that morality comes at a very high cost to john q public... 
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jrjo
Gone Fishin
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Joined: 15 May 2002
Posts: 16451
Location: Lake Wobegon, MN
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Posted: 11/19/04 - 15:45 Post subject:
Hey, don't blame me. I live in a blue state. 
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Gogirlgo
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Joined: 25 Jul 2002
Posts: 4777
Location: No deal, stalker.
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Posted: 11/21/04 - 20:08 Post subject:
My advice: the big stones will be worth more than the pebbles. Start collecting now.
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BamBam
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Joined: 05 Sep 2002
Posts: 2974
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Posted: 11/21/04 - 20:15 Post subject:
| Gogirlgo wrote: | | My advice: the big stones will be worth more than the pebbles. Start collecting now. |
Not to me..... 
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