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A Debt Deal That Will Not Change Anything

August 4, 2011 by  

A Debt Deal That Will Not Change Anything

Congress approved a last-minute deal to raise the U.S. debt limit and avoid a catastrophic, technical debt default. The deal will raise the U.S. debt limit by at least $2.1 trillion and significantly cut Federal spending in coming years. Agreed-to spending cuts will amount to at least $917 billion over the next 10 years. On top of that, a Congressional committee will work out a plan that would cut the deficit by an additional $1.5 trillion. The additional funding provided with the increase of the debt limit should give the U.S. government enough funding to operate until 2013, which means that a new debt deal needs to be made after the next election.

It was a very intense battle between Democrats and Republicans, and the possibility of a debt default created a lot of uncertainty in recent weeks. This uncertainty was felt very directly in financial markets and caused global stock markets to move lower and the U.S. dollar to lose further ground against most major currencies. With the debt deal now in place, can we expect a recovery rally in the weeks ahead and hope that everything will be just fine again? What is needed to improve things in the long run?


US Dollar Index

Unfortunately, there are a lot of factors that suggest we have to be prepared for more market volatility and economic uncertainty. The problem is, in my opinion, not so much the debt limit and the spending cuts that now have been agreed to. The main problem is that the latest battle about the debt limit has caused severe damage to the confidence international investors have in the U.S. This comes at a time when the need for foreign investment and capital is bigger than ever before.

Also, it seems that neither Republicans nor Democrats are truly happy about the deal negotiated, although each party tries to sell it as a victory. But clearly, the spending cuts are not enough for Republicans, and Democrats are not happy because there are no tax hikes included in the deal.

While the problem can be viewed from different angles, the actual public debate about how to solve the debt limit problem is what’s causing real economic damage. For a few weeks, investors around the world kept their eyes on the U.S. debt crisis and the political fight about it. Raising debt limits is something that has happened many times in the past few decades. Just since the early 1960s, this happened more than 70 (!!) times, and most of the time it was not a big deal. But this time it was a different situation. The sheer debt number, which has now exceeded $14 trillion, is scary enough; but it always needs to be seen in the overall context, that means in comparison to the size of the gross domestic product. Here, the story gets really alarming.

The size of the overall Federal debt has now exceeded the size of GDP and continues its strong upward trend. It is now approaching levels not seen since the late 1940s. In the ’50s, ’60s and ’70s, the size of the debt burden fell to levels of less than 40 percent of GDP, but since the early ’80s, this trend has reversed. The only time since then when the debt level (as percentage of GDP) was falling was in the late ’90s, primarily driven by strong economic growth.

The current debt level ranks among the highest in the world. Of course, there are other nations that look even worse — for example, Japan (225 percent); or economic heavyweights such as Saint Kitts and Nevis (185 percent), Lebanon (150 percent) or Jamaica (123 percent). Other major economies such as Germany and France do not look much better with debt levels of about 80 percent. The difference to a country like Japan is that most of its debt is being held by Japanese investors; therefore, it is able to finance that debt domestically. Also recently, China has started to make significant investments in Japanese government bonds while cutting back heavily on its purchases of U.S. Treasury bonds, a further indication that investors are becoming reluctant to buy additional U.S. debt.

Despite the fact that the U.S. debt deal is a step in the right direction, the problems are far from over. The deal reached now is not perfect, but it was the best possible compromise that could be made given the current circumstances. But in the future, further spending cuts will need to be made, and the debate about future tax increases will most likely be the next big battle in Washington. The problem now is that the increased spending cuts will hurt the economy even further at a time when the economy is not able to generate enough jobs and prevent the jobless claims from going up. Also, private households are in a long-term process of deleveraging, which will keep consumption growth at moderate levels.

In order to bring down the unemployment rate, the economy would need to grow at a rate of at least 3.5 percent. Right now, it looks like GDP growth is going to drop below the 2 percent mark in the near future, possibly dropping back to zero later next year. A lackluster economy will also result in lower tax income, which will make it harder for the government to service its debt.

How can this problem be solved? Is it even possible to do something about it? In my opinion the answer is “yes.” This situation can be improved dramatically in the next 10 years, if Republicans and Democrats work together to define and execute a plan that makes sense economically and truly works in the best interest of the people. The problem with the current discussion is that very few people differentiate between spending and investment. Investment means spending money on something that adds true economic value over time. People are willing to pay taxes, but they need to see benefits for it in return. Foreign investors will keep lending money to the U.S., but they need to see that this money is spent wisely and not just wasted.

For example, let’s look at the enormous cost of defense. The U.S. is currently spending about $700 billion per year for its armed forces. In total, the wars in Iraq and Afghanistan have cost almost $3 trillion in recent years and, at the end of 2010, almost 5 percent of GDP was defense-related spending.


Figures based on 2010 budgets (SIPRI)

That is more than 10 times what Russia spends on defense, although in terms of percentage of GDP, Russia spends more than 4 percent. Most major countries today spend between 1.5 percent and 2.5 percent for its armed forces.


Therefore, it is not surprising that a big portion of the agreed-to spending cuts come from defense, but even after these cuts the amount of money spent on defense is enormous. It is understandable that a growing number of Americans disagree with this spending policy and feel that money should be used to improve things at home rather than spending it on wars in countries like Iraq and Afghanistan.

While the U.S. is spending too much in some places, it is not investing enough for other items, especially infrastructure-related projects. Infrastructure is the kind of investment that tends to truly add economic value in the long run and provide benefits for everybody. Clearly, looking at the condition of today’s infrastructure (roads, bridges, electricity grids), it becomes obvious that there is tremendous need for such investments. Also, finding investors for such projects will be a lot easier.

What the United States needs is a sound long-term economic development plan, much like the Marshall Plan in the late ’40s. It has to be a sound economic development plan that cuts spending in areas that do not make sense economically and encourages spending in areas that result in true economic value long-term (infrastructure, education, etc.), and such a plan needs to be supported by both major political parties. The investment spending created through such an economic development plan would immediately provide benefits for everybody, increase economic activity and, therefore, also create jobs and eventually increase tax revenues without the need to hike rates. In order to work out and implement such a plan, Republicans and Democrats need to work together for the benefit of all Americans.

So, unfortunately, it doesn’t look like we see a strong positive market reaction to the announcement of the debt deal. The U.S. dollar is not recovering, and global equity markets are not rallying on the back of the news. The main reason is the lack of confidence people have in the future development of the economy. The deal reached now might look like a long-term deal to politicians; but from an economic point of view, it is another quick fix that fails to address the structural problems of the economy. For this situation, there are no quick fixes, only sound long-term plans. The execution of such plans will yield positive economic results in the future. Such a plan gives people a common vision of what can be achieved. This might be wishful thinking, but it’s the only real way to a better future.

–Daniel Zurbrügg

Daniel Zurbrügg

is the Managing Partner of Alpine Atlantic Global Asset Management, a Swiss-based independent investment management firm. The firm provides clients with independent investment management, asset protection and family office services and is the issuer of the global investment newsletter Echo From The Alps. With a global network of partners, Alpine Atlantic's aim is to provide clients with true "turnkey" solutions for global investing. Prior to setting up Alpine Atlantic, Daniel held various positions with other banks and financial companies. Daniel is a Chartered Financial Analyst and regular guest speaker at international investment conferences.

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  • Anthony

    The real truth here, is that Congress should have had the balls to just go default. Immediately defund the FED, and retake control of US currency as stipulated in the Constitution.

    And, it is exactly WHY we should have made that move.

    All sorts of Karl Marxian Government Departments would instantly be without any way of enforcing their Police State actions on the American public at large… Whether that be FDA, EPA, NEA, etc., etc., …doesn’t matter. And, the public deserves to have these Agencies obliterated.

    Rememeber S.510 ? The anti-gardening bill? Signed by Obama, right at the end of 2010? Well, when it was passed, they purposely did not include funding. After this debt ceiling being raised… now they have the funding to go around and erradicate people’s backyard gardens. And, this is just one example.

    Don’t forget the Small Arms Treaty… being readied to disarm America. Guess what also was in the Agreement….

    The Cable Media will not update you properly…
    Keep an eye online, tho… whether that’s here or even on Facebook,

    It’s still going to get worse, before it ever gets better… if that’s possible. Over 35 Trillion dollars has been siphoned away from America and sent back to Europe (London, Paris, Bavaria, Switzerland) and THE FED was very instrumental in making that happen.

    How many jobs could you create with that much cash?

    • ron

      I think we should keep our eyes on you the way you lie. The Rothschilds again. Always the Rothschilds, whats next the black helicopters coming for your guns?

      • Karolyn

        No – It’ll be our vehicles turning into government-controlled transformers!

        • Capitalist at Birth

          There you go again, saying absolutely nothing on the subject.

          • Karolyn

            And I’m never the only one.

          • Song

            Ya, Karolyn….you pretty much are

          • FreedomFighter

            Obama is doing a gun grab as we write these posts.


            Laus Deo
            Semper Fi

          • Karolyn

            Song – Take a look at some of the things you write. Like this post I’m responding to, for instance. :-)

            I’m beginning to think you should change your name to echo.

      • http://Personalliberty Tony

        To Ron:
        Right on!! This foolishness needs to stop.

      • Houndy

        Ron, what you need to understand is what Socialism and Communism is all about. If you’d study any of the Communist manifesto you would find that it is predicated on the break down of the family unit; redistribution of wealth (with the exception of the ranking officials); total gun control of the populace;control of all media sources;to name just a few. Any of this sound familiar right here in the good ole’ U.S.A. The problem with most of you Democrats (read Socialists) is that you don’t want to admit that things are going very wrong in this country. If this is the way you want to live, I suggest you move to another country that has all these wonderful benefits.

        • Graeme B

          Canada is one of those terrible socialist countries which is doing very well. It has done it through strong regulation of the banks, tight control of spending, with a equitable taxation policy. Until we have a proper and equitable taxation policy (Needed to fund 2 wars) along with the cuts in spending, this problem will continue until S&P and other rating agencies put a stop to the madness

          • Wim Vonk

            Right on

          • Old Henry

            Well Graeme B, equitable taxation. Like having the 47% to 50% who pay no taxes begin to pay taxes?

            I believe it is now 4 wars as Little Barry has once again trashed the Constitution and skipped over Congress. Of course Congress does not have the balls to do anything about it.

        • Jeep

          What was Trotsky’s first step in bringing down America? Oh yeah, get America to “spend, spend and spend”. Then, break down the family, and finally convince America of the irrelevance and “outdated nature” of the Constitution. Trotsky advocated this back in the 1930′s. He may have finally found a prez to implement the plan wholesale.

          • BigBadJohn

            As you can see, from 2000 to 2008, under President Bush, Federal spending rose by $1.3 trillion, from $1.9 trillion a year to $3.2 trillion a year.

            From 2009 to 2011, meanwhile, under President Obama, federal spending has risen by $600 billion, from $3.2 trillion a year to $3.8 trillion a year. It has also now begun to decline.

            In other words, federal government spending under President Bush increased 2X as much as it has under President Obama.


          • joel

            Big bad John, do You know who makes the budget ?? That would be congres, which under Bush was a majority of democraps both in the house and senate ! Obama was in the senate voting for these budgets an the tarp bailout. So Obama created his own mess and is now trying his best to add to it ! 2012 we will see a big change, and hopefully it won’t be to late. Hopefully the Tea Bagger’s infiltrate every area of Your beloved government!

          • Jeep

            BBJ, keep toeing the party line, it suits you. Do you think I care who has put us in debt? Do you think I really care which party keeps throwing money away on what pet projects? You people are testing the limits of patience! Can you not agree that our govt is spending more than it should, and it needs to stop?

            Just go back to the blame game corner and suck your thumb some more. When you are ready to play with the big boys and cut spending everywhere, let me know.

          • independant thinker

            Nice try John but no cigar. In fact not even a used soggy butt. You are comparing EIGHT years to TWO years.

          • BigBadJohn

            Joel thanks for proving just how ignorant you really are – REPUBLICANS controlled BOTH houses from 1994 – 2006 with one year, maybe 2003, where a republican turned democrat and gave democrats the majority for one year.

          • BigBadJohn

            Jeep, don’t know where you are coming from, I am not and never have been a democrat. I am just pointing out that voting republican is not going to save us or balance the budget – they spend WAY more then the democrats! So right now all that republican showmanship and blubbering about the debt, is for the simple minded that can’t remember what they had for breakfast much less remember what republicans did when they controlled all three branches of the government….

        • Old Henry

          Right on Houndy!

          Beautify America. Buy a liberal a one way ticket to China.

      • Old Henry


        You would have fit nicely into the 1930s German population.

        Do you run into a lot of things? It must be hard to navigate with your head firmly planted in your rectal ssocket.

    • Karolyn

      S510 did NOT eradicate backyard gardens for self-consumption!

      • Karolyn

        Changed to HR 275 and not as scary as oiginally interpreted in S510.

      • s c

        K, in your unending “search” for consistent standards, here’s a chance for you to finally understand something that eludes progressives. That is, it is NOT Uncle Scam’s job to tell ANY American citizen what can be done with FOOD. If I CHOOSE to give some food to a neighbor or someone in my family, Uncle Scam can go and #^%* himself before I’ll let the old SOB get away with it.
        Uncle Scam, if you will but REMEMBER, is the same old fart who refuses to BALANCE America’s BUDGET. Anyone with that much power and who continually seeks MORE power and REFUSES to use that power for the benefit of the PEOPLE is a worthless SOB who deserves NO support from the PEOPLE.
        What is it that keeps you from understanding simple, basic concepts? Uncle SCAM is NOT to be trusted – EVER. Do you know anyone in Washington who’s smart enough to take out the trash? And you want that worthless SOB to have MORE power?
        WHAT is your problem? Methinks it’s between your ears. Either LEARN what’s going on, or take OFF those damned blinders.
        It’s your CHOICE (temporarily). Find yourself a professor who grades ‘on the curve.’ What I see so far won’t get you very far when you have to do a long series of term papers that rely on FACTS, K.

        • Karolyn

          SC – All I did was post some facts, SC, in hopes of helping to stop rumors. Of course, I realize that the gov’t intrudes where it’s not needed. However, without SOME rules/intrusion, you have to know that there would be those who would sell poison to make a buck! (And, actually, there are!) I did not support S510 and would not support HR 2751. However, I do not agree with making things sound worse than they actually are by using scare tactics and taking things out of context.

          • Wyrdwolf

            K maybe you should see an old movie called “Soylent Green” to find out what happens when a garden becomes illegal. Because along with so many of our free rights going out the door. Then find ” The Palermo Connection ” it may help you understand the deal Uncle Scam made with the old Mafia families. Heck it was alluded to in the Godfather movies.

          • Karolyn

            I’ve seen Soylent Green many times. Nobody said gardens were to become illegal. The usual scare tactics by the right.

      • Old Henry

        Maybe not yet, Karolyn. However, it will happen as those slobs always think they know best and have the God-given right to run everyone’s life / business.

        It will regulate Famrer’s Markets, road side stands, etc.

        • Karolyn

          It isn’t law yet, and there are stipulations for “small” and “very small” businesses. Just keep putting negative energy out there and make sure it comes to pass! Don’t you get it? The more we complain and moan, the worse we make anything we moan and complain about!

    • professor

      Anthony made a lot of good points! First, the GDP to Debt Ratio is now 100%! The debt owed is 100% of the economy! In the 1930′s the debt ratio was 30%! The money is being siphoned out of this country! American-haters don’t even care where it goes, they just want the wealth of this country drained-off!

      There are many easy ways to correct the outrageous spending, and get this economy back on track. But, that is not what this administrations wants! The agenda is to “break” America and the American spirit by bringing them down to the level of prosperity found in third world countries like….Kenya! I believe people there can live on $200 a year. Look towards that country and you will see what the muslim has similarly planned for this one.

      America obviously still has huge potential, being the greatest country and economy in the world! With the right leadership (most any leadership other than what we have) we could be debt-free in eight years! The most important idea in this article is the fact that tax money must be spent on things that will give this country and its people, “a return on investment.” This administration pounds money down a “black hole,” where it does nothing but advance the destruction of our Republic…that being the implosion of our economy. Money is put in the pockets of the destructive, radical progressives to further their own agendas! Or, it disappears never to be heard of or seen again….sent to other countries around the world and subsidizing their economies.

      As far as this new “deal,” the Republicans just gave away $2.1 Million Dollars to obama for his campaign fund….to bribe his way back into the presidency. It is becoming a disturbing pattern that the Republicans do not seem to recognize (or they don’t want to)… the purpose of a “manipulated crisis!” Red flags should be raised when there is chaos in Washington from the other side of the aisle.
      Each and every time there is a crisis…Tarp, Stimulus, obamacare, Default… the American people are the big losers! I am looking forward to when the Republicans quit trying to look like “useless twits” when it comes to leadership and negotiating! Conservative Americans haven’t had representation since the campaign of 2008!

      • professor

        Sorry, I meant $2.1 TRILLION…not Millions!
        Its hard to keep up with the Trillions of dollars that goes to the progressive to do with what they will!

      • karel Eekels

        Yes, and how true professor, I can relate to your observations. All and most members of Congress are prisoners of their own rhetoric, and some of them have become rich overnight and these Fabian economic neanderthal whiz-kids that have been indoctrinated by Maynard Keynes’ theories and continue to be supported by the likes of this idiot Paul Krugman continue to believe that interest paying on the debt alone
        will get us out of the problem to create more jobs and so get the economy back on track. What have they been drinking and what do these people have in their medicine chests at home?

        All this is corruption and fraud based, make no mistake. As a result, we see debasement of the dollar status and so witness America become a banana republic.

        The Bush bashing keeps going on, and are blamed for the current situation. What “we the people” need to be reminded of is that the current deficit from $ 10 to $ 14 trillion happened on the 2 year reign of the current president.

        An immediate stop in all ear marking and pork barreling programs needs to happen, in addition to stymying all special interest groups that influence all “white elephant” agribusiness subsidies such as the so popular ethanol programs. These cause AGRIFLATION and is absurd. Allow and let water finds its own level with regard to global demand and supply. We all know that our elite fabian government leaders loath the military and intelligence. Of course they target the DoD and CIA. The accurate and collection of reliable actionable intelligence is essential, cost effective and yes, prevents wars ad conflicts domestically and international under asymmetric conditions. We have plus or minus 108 foreign military installations/bases around the world, and I would have no problem to close a select few bases which indeed would make a cost saving contribution. Our presence on the European continent is such an example and point the finger into the direction of Germany. European governments, our NATO allies do nothing else than cannibalizing their military. Why should the US tax payer continue to support this? Make the European nations responsible for their own defense! The Cold War is no longer and the Warshaw Pact is history.

      • Old Henry


        “Conservative Americans haven’t had representation since the campaign of 2008!”

        I am going to assume you are referring Sarah Palin and not that doddering old fool Juan Mc Cain. You know, the one who never met an ellegal he didn’t like…

    • FreedomFighter

      What we need are three things: JOBS, JOBS, JOBS by the millions.

      Jobs = Revenue
      Jobs = Americans off the entitlements
      Jobs = Americans spending more in the economy

      If you want jobs start with less regulation of business, remove the burdensome regulation. Second decrease the cost of running operations, cheap energy, build electric power plants at least 200 more in the next 10 years. End dependence on imported mid-east oil by tapping into our vast American resources of energy, gas, oil and king coal: do it responsibly, just do it now.

      Tariffs on imported goods or core industry that are considered needed for national security. This will create jobs, in addition have tariffs on essential goods imported from countries like China that have an unfair labor cost advantage. Use the money to pay them back.
      We need to bring our troops home and just tell all parties involved: If we have to come back we exterminate you. Saves money, lives, and gives a positive message to the enemy. Close our borders, eject criminal elements of the illegal aliens and make Americans out of the remaining, good hard working people here. Making Americans means a vetting process, speaking and reading English and all the other current requirements. Close the border by building military bases along the border and using our military to police the border, defending America is the job of the military.

      What we don’t need is more government spending on silly programs that don’t work, like stimulus packages’. Nor do we need an expansion of government, higher taxes; close loopholes like the ones GE used-that’s fine with me.

      What we do need is a reduction in the size of government, entitlement fix’s that allow these cherished programs to continue and last but not least we need to remove the communists from ever being able to serve in congress, senate or any other government positions even if they change the name and call themselves PROGRESSIVES, LIBERALS or DEMOCRATS.

      We need to move to a flat tax system, but that’s another hurdle for another day.

      Laus Deo
      Semper Fi

    • Anthony of SC

      Hello, Anthony
      What you wrote is so true, and unless the american people are willing to put all at stake to hold congress and the president responsible, we can kiss our way of life goodbye forever. There will be no coming back from the economic disaster that is being brought upon us by deliberate redistribution of our wealth.

    • http://comcast the fisherman

      They were smart-Tea Party smart

  • unohoo

    Is this going to be the stepping stone to another stimulus, me personally, I would like to know what has happened to the trillions of dollars in stimulus that has already hit the fan. It is sad that they do not teach math in this country anymore, if they did someone else would know beside me that the American public has been had. With around 311 Million legal residents I should have gotten a check for around 2.5 million, not the one I turned down for 168.00+. Even if they had counted all the illegal’s (around 90 million) I still should have gotten a check worth 1.9 million. Does government think that everyone in this country is that stupid, or just those who cashed the check?!

  • DaveH

    “a catastrophic, technical debt default”?
    “significantly cut Federal spending”?
    You call a $2.4 Trillion spending cut over 10 years “significant”?
    It might be if the cut was a real cut and not a “baseline budget” shell game where they take the projected spending over the next 10 years and cut $2.4 Trillion from that.
    The Baseline Budgeting shell game explained:

    And what debt default?. The debt would be defaulted only if they insisted on continuing spending on programs that were instituted since 2003. The Federal Spending in 2003 was equivalent to today’s Federal Revenues. So all they would need to do would be to cut back to 2003 levels and the spending would be covered.

    Some of the so-called Tea Party Republicans have let us down.
    Judge Napolitano ripped Michael Grimm a new one today over his Yes vote, and rightly so. That was the one chance the Tea Party Republicans had to do something positive, and they blew it. Let’s not give them a second chance. Teach them a lesson in 2012.

    • DaveH

      Of course I mean the Tea Party Republicans who voted Yes on the Debt Ceiling deal.

      • Jeep

        DaveH, of course I 100% agree that real spending needs to be cut now. But, let me give a little different perspective.

        I am encouraged by the TEA party members. Is there any doubt that without their influence there would have been no real debate? While this “deal” is no deal, to paraphrase michelle, I am kinda’ proud of a few staunch members of congress for the first time. And, I am pleased that the conversation is turning in the “right” direction. I think we should look at this like the left does, it’s not a battle it’s a war. This is a long term fight and we have only just begun. And, to make it worse, the left has been fighting for far longer. They are more experienced, have more patience and are more entrenched. But, we have, in a small way, changed the way business is done. Now, it is up to us to continue the fight.

        • DaveH

          This was their only chance to stop the spending until after the 2012 elections. To raise the debt ceiling required a positive vote from both houses of Congress. To cut spending from now until after the 2012 election is going to be virtually impossible because Obama will veto the spending cuts even if they do get past the Senate.
          Also I should point out that most of those so-called “cuts” (the aforementioned $1.5 Trillion) are going to come from a panel of Politicians composed of an equal number of Democrats and Republicans. I’m not going to hold my breath for something positive to come out of that bit of deception.

          Notice this equivocation coming from Obama “But the American economy didn’t need Washington to come along with a manufactured crisis”.
          In reality, the “crisis” was manufactured by Obama and gang.

          • Jeep

            DaveH, I could not agree with you more. If I had a magic wand, I would slash all the sacred cows. Or, maybe a magic sword would work better at slashing… Anyway, I am just trying to keep a positive outlook!

          • JeffH

            After the Senate voted today to pass the final debt plan which was passed by the House last night, President Obama stated that it was an:

            “…important first step to ensuring that as a nation we live within our means.”

            This bill really didn’t cut much of anything. What it really amounts to is that by the end of next year, instead of being $14.3T in debt, the US will only be about $15.3T in debt and by end of the ten year projected period our debt may rise to $21.4T. Oh, I forgot, the $2T in cuts they are talking about is taken off of a projected 10 year debt of $23.3T.

            Live within our means? Sorry, Mr. President, but I don’t see this as living within our means. If you were related to Pinocchio, I don’t think there is a limo, bus or airplane long enough to fit the nose you would have by now.

          • Richard

            If we hold the politicians feet to the fire, we might get by. Come election time I would recommend the firing of ALL of them.I’ll tell you, retirement is NOT for sissies. Not with that bunch!!

        • Old Henry

          Ah yes, Michelle. The wolf in sheep’s clothing. The traitor who voted to extend the facsist un-Patriot Act. Kind of a Nazi in nylons.

          Seig heil Michelle, seig heil. That facsist piece of legislation has little to do with terrorism and is simply the tool for expanding the police state.

    • DaveH

      To put this in perspective, I have seen National Debt projections for 2020 anywhere from $20 Trillion to $29 Trillion.
      Just for argument sake I will use the low figure ($20 Trillion) which is very conservative considering the impact the Health Care Law is probably going to have on our economy.
      So $20 Trillion – $2.4 Trillion = $17.6 Trillion
      Only $17.6 Trillion for our children and grandchildren to shoulder. How generous of the Government. For those who aren’t good with big numbers, that is about $59,000 Federal Debt for every man, woman, and child in this country, or about $182,000 Federal Debt for the average family (3.1 persons per family).

      • Warrior

        Like has been said Dave, if a compromise does not solve the problem, what is the value of the compromise?

        Look at the Mack/Penny solution. Go to Connie Mack’s website and vote on it’s support. The committee of 12 has already just become another attention diverting sideshow.

        • Jeep

          Maybe I’m just silly and naive, but what if we try something less difficult. It seems to me, in my simple way of thinking, that if tax receipts for the month are 15% under projected spending, then just cut all budgets by 15%. No debate, no haggling, just a note saying, “Sorry but your only getting 85% of your budget, deal with it.” Then, maybe congress would have to do it’s real job and cut real waste and unConstitutional programs and agencies.

          • DaveH

            There are plenty of savings that could be had by the Federal Government just getting rid of Unconstitutional Agencies.
            Here are John Stossel’s recommendations:

          • Jeep

            You’re on target as usual! But, getting congres to kill the sacred cows is harder than pulling eyeteeth. Maybe we need some dentists in congress…hmmm…

    • FlaJim

      The $2.4 trillion in ‘cuts’ were only on expected increases and only maybe. To show how this works, imagine you made $30,000 last year, spent $40,000, and needed to borrow $10,000. However, you anticipate that in order to maintain your current lifestyle, you will need $41,000 next year. So you promise that to pay back the $10,000, you’ll cut back to $40,000 for the next 10 years — maybe. You’re still spending well over your income, however.

      No Congress can tie the hands of a future wild spending Congress. This deal was idiotic from the get go and the spenders will be back for more in another year.

    • BigBadJohn

      Let Bush’s tax cuts expire – that’s 4 trillion over 10 years.

      repeal Bush’s increase on military spending – that’s another 3 trillion over 10 years.

      • Jeep

        and, let’s repeal obamacare, welfare, foreign aid, reform Social Security, and reduce medicare….agreed.

        • BigBadJohn

          agree, Only one BIG question, I thought Clinton and the republicans came up with with welfare reform that “ended welfare as we know it”.
          It was supposed to put a maximum amount of time that you could stay on welfare – what ever happened to that? If states found a way around this, isn’t it then the states problem?

      • Song

        BBJ: And I suppose you “fancy” yourself as someone that cares about the middle class? Who do you suppose is going to be hurt by repealing the Bush Tax Cuts genius? What a dolt.

        • BigBadJohn

          Actually song, I am one of those people that would be hurt most by letting Bush’s tax cuts expire.

          Just stating the obvious, the only way to get control of the debt is to un-do everything the republicans did from 2000-2006. Two wars, tax cuts, spending increases and the un-funded prescription drug plan.

          • http://?? Joe H.

            If you don’t like how little you pay in taxes, they will accept donations of cash from you any time you wish to send it!!! Just do me a favor and don’t try to dig into MY pockets as I pay enough NOW!!

      • FreedomFighter

        National defense is one of goverments only real purposes for existence.

        Laus Deo
        Semper Fi

        • BigBadJohn

          agree but how much money does the military need? We spend 40% of the entire worlds military budget and over 6 times the amount that China spends. I think we can cut back some…..

          • Elevenarrows

            The military budget would be a whole lot smaller if we could eliminate things like “tolerance training” for brainwashing soldiers into accepting sharing a room with homosexuals. We need to be spending money to train soldiers to defend our borders and not much more than that.

          • Karolyn

            eleven – I think that’s a bit of a stretch. Sensitivity training is probably one of the lowest line items in the DOD budget!

          • Karolyn

            Here’s the DOD’s latest Defense Contract Awards. I dont know what most of this stuff is, but it’s a hell of a lot of money!!

            This one looks interesting:
            DG21, L.L.C., Dallas, Texas, is being awarded a $47,669,510 modification under a previously awarded firm-fixed-price-plus-award-fee, indefinite-delivery/indefinite-quantity modification contract (N62742-06-D-4501) to exercise option one for base operating support services at U.S. Navy Support Facility, Diego Garcia. The work to be performed provides for all management, labor, administration, supervision, materials, supplies, and equipment. The total contract amount after exercise of this option will be $479,298,329. Work will be performed in Diego Garcia, British Indian Ocean Territory, and is expected to be completed by July 2012. Contract funds in the amount of $10,499,848 will expire at the end of the current fiscal year ($19,113,122 is subject to the availability of funds in the next fiscal year). The Naval Facilities Engineering Command, Pacific Division, Pearl Harbor, Hawaii, is the contracting activity.


          • Karolyn

            Check this out. “Foreign military sales to Pakista”

            Lockheed Martin Aeronautics Co., Fort Worth, Texas, is being awarded a $42,311,839 firm-fixed-price and cost-plus-fixed-fee contract for 10 additional kits for the Pakistan Block 15 F-16 A/B Aircraft Enhanced Modernization Program. The contract supports Foreign Military Sales to Pakistan (100 percent). ASC/WWMK, Wright-Patterson Air Force Base, Ohio, is the contracting activity (FA8615-07-C-6032-P00038).

  • DaveH
    • Anthony

      The longer they keep up this nonsense about raising the debt ceiling, the closer to the New World Order America will get .. and that include disarming the United States, like Britain and Australia already are.

      We need to END THE FED and take back control of our Country.

      • FreedomFighter

        An end to the FED is the single most important NATIONAL DEFENSE issue in America today. UNKNOWN ENTITIES control our economy thru a fiat monetary system – any other questions?

        Laus Deo
        Semper Fi

  • Concerned Lady

    First and foremost, Democrats, Republications, Independents, Tea Partiers, etc. must set aside their “party lines” and work together for the American people rather than catering to big business, lobbyists and special interest groups. As elected officials, your obligation is to use your best judgment and represent only the interests of the individual citizens who elected you to office. That means leaving “self interests” out of the equation as well.

    We need to come up with a new approach to campaign funding to level the playing field among candidates so that the “best” man or woman for the job has an equal chance to win the election as opposed to the candidate who is either independently wealthy or well-funded by big business, lobbyists and/or special interest groups. No one should be able to buy their way into office.

    Our troops need to be brought home as soon as can be logistically accomplished. On their return, they should be given meaningful jobs, not just turned out of the military with no hope for a secure future.

    The money saved on ending these wars should be allocated to paying down debt and rebuilding the nations infrastructure. This will create jobs and improve our old, delapidated, crumbling infrastructures at the same time.

    The young people of this country are the ones who can restore the U.S. to its number 1 standing among nations but they need quality educations to do it. Why not take a serious look at how countries who provide free college education to all their high school graduates make it work. Instead of continually cutting education funding, wouldn’t it be better to divert some of our military spending to education and prepare our young people so they can really move this country forward?

    It’s time to stop playing Russian roulette with the emotions and financial stability of the nation’s seniors who have spent their lives working to support their families as well as their country. Many seniors are still working even in retirement while others are raising their grandchildren at a time when they should be able to sit back and enjoy the fruits of their labor. Let’s not forget, the money in the social security fund is money that was withheld from the earnings of these seniors and their employers contributed as well to secure retirement for them at age 65, not 72 or some other higher age.

    Legalize drugs and put the Mexican drug cartels out of business. Initiate a system similar to what I understand they have in England. Addicted people register as addicts and get their drugs legally through what amounts to a pharmacy where they pay an uninflated price for a drug instead of stealing, killing, or whatever it takes to get the money to pay drug dealers for their next fix. We cannot win the so called “war on drugs” the way it is being fought. There should be much stronger sentences for those who sell/distribute drugs up to and including the death penalty if that is what it takes.

    Get serious about securing our borders and keeping them secure. Returning troops could be used in this effort.

    Require that foreign students enrolling in U.S. schools (regardless of their nationality) be taught English and then be required to take their classes in English. This eliminates the need to publish educational materials in multiple languages which increases costs. The same should be true of street signs, etc. This is the U.S. of America, where English is the national language.

    Close many of the hundreds of overseas military bases we have spread all over the globe, and use the money saved to pay down our debt.

    Stop trying as a nation to be all things to all people. We need to stop trying to be the police force for the world, the solver of everyone else’s problems. Now more than ever, we need to focus first on the hunger, poverty, homeless individuals and other problems here within our own borders. Join with other countries in the United Nations to provide aid to other countries when needs arise instead of trying to take most of it on ourselves.

    Put an end to pharmaceutical companies in this country charging Americans higher prices for drugs than people in other countries pay for the same U.S. produced drugs.

    Put a stop to insurance companies literally telling hospitals, and indirectly doctors, what medications, treatments, surgeries, etc. patients can have. Only the physician should be able to make that call. We need to seriously take a look at how countries who rank far ahead of us in quality of health care and far below us in the cost to deliver that superior health care, operate their health care systems. Our system is badly broken and must be fixed.

    As citizens of this country, regardless of our political party choice, we need to make it crystal clear to those representing us in Washington that we expect the wealthy few of this nation to pay their fair share of taxes effective immediately, and this applies to wealthy politicians as well. The tax loopholes they currently enjoy must be plugged and they should pay taxes based on their income just like the rest of us. No exceptions.

    • Anthony

      You are pretty much on point, CL. The Political Parties all kneel in front those who control the money, and that certainly isn’t Congress, like it stipulates in the Constitution.

      • professor

        Here, I must disagree….the Congress does control all revenues and assets of this country. If not, why did they just vote to give $2.1 Trillion dollars to the muslim for his slush fund! How many politicians will profit from voting to raise the debt ceiling!

        The problem in Washington is that the people have given total control of all money and assets to the politicians! There is no doubt that this contributes to the out-of-control corruption in our government.

        There has to be a way to take control of the country’s revenue and assets, keeping it from the clutches of Congress! Right now, Congress tells us how much they are going to spend, and what they are going to spend it on. They vote themselves raises and give themselves lavish benefits. They give away our treasure to other countries, they give it to their buddies, favored corporations, supporting radical agencies, banks and even give our tax dollars to terrorists! I don’t recall voting on any of those expenditures…do you? I didn’t vote on using American tax dollars to build mosques in Egypt and India…did you? What I am saying is that the people have no control…we just provide the money..or else!!

        It appears the main objective of Congress is creating ways of getting more and more money out of our paychecks! That is “control” by any other name!

        • AlleninReality

          As long as there exists LOBBYISTS, our
          congress, regardless of party lines,
          will keep us eternally broke and in debt.
          Congressmen are corrupted from the day they
          check in and we are powerless to change that.

    • Karolyn

      Very good post. I agree with most of what you have said except that stronger penalties for drug-dealing won’t work. Stronger penalties for anything don’t work. Offenders don’t think about the penalty when they do the crime.

      • Palin12

        They should drug test all people on welfare and if it comes back positive cutoff their “benefits” permanently.

        • jibbs

          We drug test people on welfare in Missouri, tell the other 49 to start testing.

    • http://Personalliberty Tony

      To Concerned Lady:
      Excellent Post!! If most of us Conservatives thought like that, there would be no problems. So, thanks again for the enlightenment.

    • Ellen

      Concerned, If the wealthy were required to pay their fair share, they would all get a decrease in their taxes. The top 1% pay 38% of all taxes even though they take in less than 25% of all income. The top 5% pay 75% of all taxes. The top 10% pay 80% of all taxes. The bottom 50% pay nothing. That leaves 40% (middle class) paying only 20% of all taxes. So, if you are poor, low income or middle income, you’re not paying your fair share. As for tax breaks for the rich, while it is true that the capital gains tax was lowered in the Bush tax cuts and wealthy people have most of the capital gains, that tax cut is available for all of us and it is tax on gains from investing money you already paid tax on to begin with. Further, ‘rich’ get to claim nearly no deductions on their taxes and what few deductions they claim are reduced on a pro-rated basis based on their income. So, forget the foolish ‘tax the wealthy’ class warfare spread by Dems. The wealthy pay way more than their fair share and are supporting this country while the welfare crew keeps repeating the welfare cycle and creating more people who don’t pay taxes and live off the hard work of others. By the way, most of America’s ‘rich’ by Obama standards are really upper-middle income.

      • Elevenarrows

        Ellen, your analysis of the rich/middle class/welfare class and very poor in America is right on. I get tired of everyone screaming for the rich to pay more…why? They are already carrying most of the country. If we run them off to foreign soils, the middle class and poor will have to shoulder more. Much of this rhetoric on the part of the current admin. is to cause class warfare.

        • http://deleted Claire

          Taxes? They should be assessed in accordance with the salary/amount of money made in a year’s time, regardless of how much or little a person makes. That is the fair way. Do I envy them? NO. I love my life the way it is and I shall keep it.
          The wealthy? They have plenty of money in foreign banks. Plus the fact corporations/businesses went overseas for cheap labor years and years ago. This didn’t “just” happen. The big corporations/businesses are not going to hire in the U.S. regardless of how much money they make.
          Has anyone heard of the American Legislative Exchange Council? Check it out:

          I look at and read ALL aspects of both political parties.

    • FlaJim

      A few good ideas mixed in with some silly ones. Starting with your disdain of party labels, that’s how we identify those who are most closely aligned to our own way of thinking. For example, there’s no such thing as a conservative Dem and hasn’t been for nearly 30 years. (No such thing as a peaceful moslem either, but I digress.)

      Legalizing many drugs has its merits but keep in mind that at least 90% of illegal drug users are recreational users, not addicts.

      Ending foreign wars is a laudable concept but some have strategic value. In Iraq Afghanistanstan, we’re drawing off many wild eyed moslems to be dealt with by highly trained professionals rather than see them here, wreaking havoc among our civilian population. In addition, that’s keeping pressure up on Iran, probably the most dangerous foe we have because they’re developing nuclear weapons, the means to deliver them, and the nutjob leadership that would welcome a nuclear war. What the hell we’re doing in either Libya or Yemen, however, is anyone’s guess.

      ‘Free’ education is not free and where in the Constitution does the authority exist for government to end poverty, homelessness, or hunger?

      The government is now regulating 2/3 of the domestic auto industry and the price of a new vehicle is still more than I’m willing to pay. Imagine if it regulated pharmaceutical companies, forced all employees to unionize, and then ordered a price reduction. They’d all move off shore.

      The solution to health insurance is to eliminate the corporate deduction for providing it. No more employer backed group insurance. Instead, there would be individual policies, although some groups might form in order to standardize things and lower costs. Like life insurance policies, they would be non cancellable as long as the premium was paid. But remember, insurance companies are not charitable organizations. Like any business, they’re entitled to a profit.

      The ‘wealthy few’ already pay the lion’s share of taxes, so drop it. A better idea is to restrict voting privileges to only those who actually pay taxes. That way, the 47% who are getting a free ride would no longer be able to reelect those who are giving away all the freebies.

      • Jeep

        Sorry, FlaJim, there is way too much common sense in your statement. BTW, are you running for office any time soon?

      • professor

        Agree with this….Good job refuting some silliness..

    • Capitalist at Birth

      Just exactly how will increasing spending on education improve the results.? We are spending enough on education now. How do you know who pays what in taxes? What is a fair share? If you disband the military who will protect us from our enemies of which there are many? Everything you said is right out of the Socialist/Communist playbook. You are, either a dupe, or you are a participant.

    • professor

      Lady, you have some good points…but, I must say that I see a couple of things differently.

      First, radical progressives and Conservatives will never work together, for the good of the country. The agenda of the progressives is diametrically opposed to doing things that will enable freedom and liberty, our Constitution, and individualism, to exist! There is no compromise, there is only a war between the two ideologies! And, Conservatives must win!

      Secondly, we spend more money on education than countries whose student rank far above our own. Their students are of superior quality in many areas. The reasons for this is a topic for another day. Suffice it to say that the American Educational system is not working and it doesn’t matter how much more we spend.

      This, being said, NOT ALL students are University material! Free College level education for everyone would be a waste!
      Political correctness tries to make us think that everyone is created equal! They are not, they are only equal in God’s eyss! But, in Academia, there obviously are great disparities in ability. There are loans and scholarships available for good students that have shown themselves to be serious about getting higher education.

      Third, as a Conservative, I am against legalizing drugs. That is giving up on our children. Babies are not born with the desire to use drugs. The young are introduced to drugs by other drug users. Other countries don’t have drug problems like the United States. We are tolerant and once again, too politically correct! I have to say that “Diversity, Political Correctness and Multiculturalism” are tools that the progressive use to destroy this country. And, they have been most effective! Taking the money out of drugs, will not keep drugs from destroying our future generations…

      • Karolyn

        Regarding drug use, nobody forces it on anyone. There are those who are and those who aren’t addicts/alcolics. Nothing the government can do via the “war” on drugs will every put a dent in drug abuse. All it does is line the pockets of DEA agents and drug dealers. Man has gotten high since the first caveman picked a leaf, chewed it and liked how it made him feel. Education is the only answer. If all that money were used in rehabilitation and education, we might make a dent.

        This is a great article DaveH originally posted some time ago:

        • DaveH

          They would educate themselves if we would just leave them alone to suffer their own mistakes.
          Instead, we do our best to prop them up so they can go on repeating their mistakes over and over.

  • ron

    It amazes me how some of us are so far out there that we will vote aginst our own intrestin the name of Karl Rove , the Koch brothers and Dick Army. Yeah, keep your hands off my medicare , unless Dick Army anmd others tell me to think otherwise. If the agree with it you can do away with it because I can always blame someone or other party for kicking me out of a hospital bed. Simply amazing.

    • Anthony

      No (false) Left/Right Paradigm idealogy in your world.

      This kind of “slanted” viewpoint, with a limited information mindset is exactly WHY I changed my approach to Bob’s Website. I come here and read, and it just never seems to change.

      Do you even know what an Oligarchy is?
      Have you read the Federal Reserve Bill?
      Have you googled the legality of the 16th Amendment?

      Can you show me the Law where it says we must pay?
      Because I can tell you several IRS Agents have successfully challenged the IRS in Court and WON.

      Which tenent is it that relates to Income Tax, in the Communist Manifesto?

      What parts of the Communist Manifesto detail invoking the FDA, EPA, NEA(especially) onto the Nation’s citizens?

      Have you viewed the following:
      1. Money Masters
      2. The Big Picture, The Calling, The Secret of OZ
      4. Beautiful Truth or Sweet Misery
      5. Executive Order 11110 or USS Liberty

      The above are just a taste of what you have purposely been left out of the discussion about. But, you do what ya like and walk around worshipping the Left, because THEY are who aided the Money Masters in taking over control of our own currency.

      There’s a reason that money has been made into Debt – when it should never be… and it was Jesus who warned us all.

      You should either do your homework or go ack to sleep.

      • Al Sieber

        I agree Anthony.

  • Anthony

    Based on the charts above in this Article…

    Everyone should google up “Fractional Banking Policy”

    Then, you tell me, whether YOU would be allowed to run YOUR financial households this way… AND GET AWAY WITH IT.

    If you can’t, then why should your own elected officials when it comes to running YOUR Country?

    • Lastmanstanding

      Anthony…I wish that I could see and hear all the kicking and screaming (as they are drugg away) from the libs, progs, etc. when they realize that they had no other value to the elites than for their vote.

  • Les

    $700 billion out of $3,800 billion spent by the Federal Government equals roughly 18% of spending. Nobody is asking where the other 3.1 TRILLION dollars is going. Why is it that the solution to Federal spending is cut national defense? Cut it in half and you only save 9%. National Defense is the primary job of the Federal Government. It is not all the other Agencies they are spending the other 3.1 TRILLION dollars on.

    It’s all the other crap they are blowing our money on that is the problem. Stop giving my money away to buy your friends. Stop paying people to live better than I do for free. Stop importing more and more of these people to prop up you voting numbers at my expense. You thought the housing bubble was bad, just wait until this reaches the end.

  • Tonymeathead

    What were all agreed on is this is not over
    And in the wrong direction
    Downgrade stock market reaction higher commodity prices
    Then blame game

  • Mort

    We will see no changes in our debt situation until we change the taxing structure, such as FAIR TAX. Now the politicians are bought by the contributions of people who can write them off their taxes.
    And the people they pay every month with welfare, food stamps, long term unemployment, organizations that fight our democracy, ACLU,etc. Not by withholding social security payments, a proposed plan for Seniors only, that was/is mandatory, but is not protected from the thieves in government. Maybe we should start by taking away the Royalty treatment of our president. Why does he get to keep all the advantages, parties, jets for himself & his friends, etc.?

    • Jeep

      Not disagreeing with your points Mort, they are on target. But, check your verbage, “…that fight our democracy.” We are in a pickle because many think we live in a democracy. A democracy is mob rule, the mob has been clammoring for handouts and through democratic principles have been successful in stealing our Republic away. In a Republic the rule of law governs the way things are. The communists and socialists know that human nature is to want more for less. And, by convincing American’s that we are a democracy they can win, as any society that has mob rule will eventually break down, even the US.

  • Dan az

    I can see why these progs and libs are here because they must work for the corrupted gubmnt and the elite,because know one can be that stupid and breath.Then again I could be wrong!What makes this kick the can down the road for someone else to fix, anything more than what it is?What makes them think that they will continue to get a free ride on the shoulders of the working few?When the jobs are not going to get better but worst and the unemployed are now not going to get anymore relief,they just fall off the rolls for now on.Hey at least they can say, see its working,there is less on unemployment now than before.So the lies continue and the libs and progs will continue licking the alah oduma shoe bottoms to get their fare share.It’s only a matter of time now that this will all come to an end,God Help Us All.

    • Jeep

      Awww, so close Dan az, the progressives do not necessarily “work” for the govt. But, they want the govt to do their dirty work. Progressives are the greedy ones, always on the lookout for another handout. Whether its welfare, obamacare, ss handouts or medicare, progressives will never admit they want it, but also want someone else to pay for it. And, some are even more insidious, they claim its to help others, those ugly people will never admit in public that its really for themselves. And, of course, the politicians will give them what they want, as long as the votes keep coming.

  • Raggs

    You should read this…..

  • chucky

    We the people need to understand that Hitlers’ first invaision was not Poland,It was the People of Germany who did not fall in line and disagreed with Hitlers’ Philosophy.

  • john

    President Obama just showed up and started ripping out my garden, His henchmen are searching my house for guns.He says i have to read the Koran and become a Muslim socialist commey. I have to give him all my money and get an abortion. you alarmists are pathetic.

    • Les

      You have a garden and guns? Didn’t know socialists actually had anything to take, that’s why they are so busy taking from everyone else. – ROTFLMAO

      • http://?? Joe H.

        Of course they do! Cork guns and window herb gardens. And still they get hurt……….!

  • john

    turn off fox news they are turning you into idiots

    • Song

      And you (john) are an automaton, also known as a sheep… baaa

  • Dan az

    I just received a letter from michele obummer that wanted me to sign a birthday card to obummer and leave a remark for him.So I sent him my letter again.If you all would want to send him something then here is the site. :)

    • Raggs

      What??? Are you going MAD????

      Like really… I’m going to wish him a happy birthday?… I have heard it all now thank you…

      • Dan az

        Really I got in a email that said she wanted me to sign it and leave a message that she would hand deliver to him so I wrote him this.
        Dear President Obama”

        We The People have stated resolutely that we reject your vision
        for our country. You claim you have not heard us.

        WE THE PEOPLE have assembled across America resisting your
        efforts to subvert our CONSTITUTION and undermine our
        LIBERTY. You claim you have not seen us.

        Since you have not acknowledged our message let us here
        present it once more. For if as President Wilson said, a leaders
        ear must ring with the voices of the people, the time has come.

        Our greatest treasure is FREEDOM. The absence of restraints
        on our ability to think and to act. The corollary of FREEDOM is
        INDIVIDUAL RESPONSIBILITY. We believe in the power of the
        individual. A few years ago President Bush said, “History moves
        toward FREEDOM because the desire for FREEDOM is written in
        every human heart.” Let us add that we will preserve it only as
        long as devotion to FREEDOM is expressed in the heart of our

        When President Lincoln dedicated Gettysburg National Cemetery
        he declared, “it is for us the living … to be dedicated here to the
        unfinished work which they who fought here have thus so nobly
        advanced.” That unfinished cause for which our soldiers willingly
        go to battle and for which so many have given their lives is a
        FREE United States of America.

        It has been nearly one hundred fifty years and the work President
        Lincoln spoke of is not finished. In fact, that work will never be
        It is not an entity but a condition, and conditions change.
        FREEDOM can expand, yet so can it contract.

        You promised CHANGE when you took office, Mr. President, but
        subjugation is not CHANGE we wanted or will accept. You have
        expanded government violated our CONSTITUTION confounded
        laws seized private industry destroyed jobs perverted our
        ECONOMY curtailed FREE SPEECH corrupted our CURRENCY

        By compromising our nation’s cultural, legal, and economic
        institutions you are ensuring that our children will never achieve
        the same quality of life as we enjoy today. Through generational
        theft you are robbing the unborn of opportunity. This is not
        acceptable not in AMERICA. We did not become a strong nation
        through HOPE but rather through self-reliance.

        No one better understands the relationship between individual
        achievement dignity and strength than our ARMED FORCES.
        Through every war our soldiers have held this nation’s destiny in
        their hands. They have not failed us. They cherish FREEDOM
        enough that they are willing to DIE FOR IT. Our duty to them and
        to ourselves is to treasure FREEDOM enough TO LIVE UP TO IT.

        We accept the challenge, Mr. President. That is why we are
        assembling across the land to deliver our message to you as often
        and in every way we can. Dismiss us at your political peril. Our
        great nation is a REPUBLIC. We will not accept tyranny under any

        Your policy to redistribute the fruits of our labor is STATISM and
        will not be tolerated. By our honor, Mr. President, we vow forever
        to resist coercive government in AMERICA. PATRIOTS will not stand
        silent as you attempt to dismantle the greatest nation on earth.

        WE THE PEOPLE will defend our liberty, we will protect our beloved
        country and America’s EXCEPTIONALISM WILL PREVAIL!


        Sincerely, WE THE PEOPLE
        Do you think that He will reply :) :)

        • Mike in MI

          Dan the MAN – Yuh done good kid.
          I think he’ll give you a return…on April 15th or thereabouts.

        • http://?? Joe H.

          Dan az,
          god Bless you for your reply to him! The truth is in your words and not thinly disguised as it usually is in Obamas words!! God bless you and yours Brother Patriot!!!

  • jim

    I am so sick and tired of this whole @%#$^&ed issue! Once again we see the transparency promised to us by Obama and those Republicans that were supported by the Tea Party as just words!

    With all the ‘Behind Closed Doors’ meets that took place….we weren’t given that opportunity to view the Bill online. I have been given the opportunity to receive, for free, a book (via Newsmax) that proclaims to “…learn how to pay ZERO taxes like those that make over $250,000 a year. Apparently there are over 35,000 pages of tax-code that reveal loop-holes only to the elite because they alone can afford the high-priced lawyers to help find them.

    Obviously, Obamas plan to raise taxes on those that make over $250,000 is not what needs to be done! It is the tax-code that must be adjusted. For one, it definitely does not need to be 35,000+ pages long. Most likely the reason for these loop-holes were probably created on purpose specifically for those who make $250,000 or more a year.

    But, what does our wonderful first black president and congress choose to do……..hide the facts in discussions from us and push the fear of defaulting our credit as their need to Do It Now…Do It Now…Do It Now…kind of pressure. These stupid arrogant asinine people do not think us little people can think far enough or fast enough to see what is happening.

    I suggest reading “Tragedy and Hope” by Carroll Quigley for a revelation to what is taking place right before our eyes. The sad part is, be they Democrat or Republican, our federal government seems to be playing a part in the down-fall of itself. I still don’t know if all of them know it or not…but if little-old-me can see it…well…what can we do!

    • AlleninReality

      This whole mess is over $ and debt. As a conservative,
      I feel this whole debt deal should have included revenue
      1. Bring the troops home from around the globe and shut
      down all bases in Europe, Middle East, and Asia.

      2. Cut Defense Budget in half. Keep the troop for border/port

      3. Eliminate all foreign aid. What? are we trying to buy friends?
      We are broke people!
      4. Start a fair tax and for the first year, a 10 percent tax increase
      over current tax rates which includes middle class, upper class, and
      yes, a 10 percent reduction in Earned income credit to those who pay no taxes. (a real bargain for those who pay not tax)
      The second Tax year would be purely revenues from a 22 percent sales
      tax which includes those who will try to turn overseas, they pay a 30 percent import and duty tax.

      5. Stop feeding, medicating and supporting illegal aliens. If we did
      this, they would self deport and be happy at home.

      6. Fund incentives for restoring our sorely needed manufacturing base and bring the jobs back home.

      7. Reform congressional pay to where the state they represent pays them and the level regulated by that state’s governor.

      8. Fully audit all government agencies on spending waste and garner
      refunds to the treasury where waste is found.

      9. Close the United Nations in the U.S. and relocate it in Israel.

      10.Close the Federal reserve Bank and it’s ties to the US and relocate it in Geneva.

      11.Clean out “K” street in Washington DC of all Lobbyist activity
      and declare it illegal for any congressman to be caught with them
      or talking to them unless a good FBI sing is progress. Contact
      with a lobbyist should carry the same weight as contact with a drug

      12.Legalize gay marriages, drugs, and conceal carry hand guns across the country. Let the government of each state regulate taxes on drug sales. (more revenue)

      13.Free abortions everywhere! Why feed unwanted crack babies? be sensible!

      • http://?? Joe H.

        you want an abortion? go to Mexico and get it! I don’t care to pay for Murder! The constitution says freedom OF religeon shall not be abridged and my religeous beliefs are that it is wrong! why should I pay for you to get one to avoid the responsibility of YOUR actions???
        As far as taxes, just make it 10% across the board, no loopholes, no deductions! you make a dollar, you pay ten cents! The government would get more than they do now and you and I would pay LESS!!

        • http://deleted Claire

          I do not believe in abortion. Crack babies?? My niece and her husband adopted two of them–their life was a living hell. Now the boy is 17 years old and in a “home” for uncontrollable youth. The girl is doing okay but on medication for the rest of her life. I commend my niece and her husband for what they tried to do–they tried to salvage the lives of two innocent children. I say go after the drug dealer and druggies that purchase illegal drugs and put them away. Send them to Alcatraz.

  • john

    May be we should have a revolution. Oops that wont work all the republicans will get deferments and there wont be any one for this liberal, tree hugging, union member, PATRIOT to fight.

    • http://?? Joe H.

      Hey ——, I’m a registered republican and I served almost eight years in the army, eighteen months in VihnLong VietNam! Did YOU serve??

    • Mike in MI

      johnny-boy, those are not the credentials of a “PATRIOT”. A citizen you may be; but perhaps your name would better be juanito.
      When Joe and I were fighting to maintain your right to think like a spoiled kid people like you back in the states were making our jobs far, far harder. Then when we came home your kind defamed, degraded, dismayed and defrauded us.
      No matter! We dusted of our sandals and went to work greasing your easy life. The lessons you haven’t learned about life (shielded as you have been) will soon bite you hard. You’ll have little experience to fall back on or guide your attempts at adaptation. Jello doesn’t withstand much.
      When I was a kid in college I was stupid and a liberal like you and yours. After reality hammered me upside the head a couple times I got meek enough to learn that man can’t know enough to wisely guide his own safari in life.
      I hope you learn the incredible value in the name of the Lord Jesus Christ…soon. You’re going to need it…given what your present heroes are going to lay on you.

  • Charles

    So, if everyone goes out and borrows more money, that will some how get them out of debt? I must be missing something here.

  • john

    When is the last time the debt ceiling was mentioned? Not When Reagan was President (18 times),not when George the second was in command (7 times). But when A Black President is elected now its a big deal. The teabaggers caused this whole fiasco,and will continue to attack a “free” America. They are
    racist,selfish,ignorant excuses for Human beings.

    • Raggs

      little john… change your name to oblama 2nd and shut up.

    • AlleninReality

      “They are
      racist,selfish,ignorant excuses for Human beings.”

      You are a good judge of character? Nope, Just ignorant
      and ill informed.

    • jibbs

      bite me, without us you would starve……it’s the first of the month, go get your check that is paid by us and send it back.

    • Alex

      Unfortunately, the Teagaggers respond to all manner of disagreement with invective but ALMOST NEVER write a single word of reasoned response.

      President Obama is a ‘Marxist’ (HAA!) or Socialist (HAA!!)—people on the Left are ‘idiots’ and ‘imbeciles’ etc—BUT NOTHING OF SUBSTANCE!

    • http://?? Joe H.

      answer my question! Did you even serve??? Or are you one that ran to Canada?? Or are you some snotnosed little eighteen year old that is so wet behind the ears you drip? Remember sonnyboy, When your time comes you better hope and pray there are some of us real patriots around to do YOUR fighting for you as you curl into a little ball, wimpering!!

  • john

    Has any one here driven on a public road? Went to public schools?
    Do they or their parents collect social security? If you do you are a socialist… PLEASE OPEN A DICTIONARY!!!

    • jibbs

      People that WORK, pay into SS………wake up stupid! People on welfare DO NOT WORK, learn to seperate the two. People who WORK pay taxs and thats how roads are build, People who WORK pay taxs for education, if you can still call it education.

      Do you get extra money on your welfare card to come here and TROLL?

  • john

    Is telling some one to shut up in our constitution.

    • Nadzieja Batki

      You can talk till your little heart is content, but there is not any right to be heard or listened to.

  • AJ

    Ron, pull your head out of your a_s. Making a comment like “The Rothschilds again. Always the Rothschilds, whats next the black helicopters coming for your guns?” is totally asinine. Obviously you’re either a plant by George or you’ve never researched the Rothschilds and what they have stood for and done over the years.

  • john

    Did you guys go to find a dictionary????

    • jibbs

      Call 911, and tell them that you overdosed on the kool-aid. Do you think before you open your pie hole.

    • http://?? Joe H.

      hey john,
      how namy times did daily kos have to tell you what a dictionary is used for before you quit chewing on it???? Or was it in your pants to keep daddy from spanking your face, er a$$?

  • 45caliber

    There are only two things in the bill that stands out to me. First, they are allowed to borrow another 2.4 trillion dollars on top of what we have already borrowed. How does that keep us from defaulting?

    And second, the two parties are to set up a committee to decide how to cut expenses. Not by chance, the members will be the most liberal they can select!

    • Bob from Calif.

      The debt debate was used as a smoke screen, to implement this super committee. The government will now be run by twelve people plus the ruler (president).

      • http://?? Joe H.

        Only till some rep realizes that this commitee takes their right to discuss and debate these cuts the commitee comes up with! these twelve have now got the power to demand a yes or no vote with no debate!! Can you say UNCONSTITUTIONAL????

  • chuckb

    all the argument about tax code and tax increase is nothing but wasted air. get rid of the liberals in the wh and congress, get rid of the so called rino’s, that would be the most efficient and fast way to save our country. the argument about what barry and company just did is a waste of time nothing will come of it.
    we have been sold down the river by the republican congress no one else, we knew what the bolsheviks wanted, we knew that borrowing more money was wrong and yet the rino’s did just that. don’t blame the bolsheviks, blame the republicans. the repubs just got conned again and they fell for it.

  • FreedomFighter

    From an email:

    Dr. Charles Krauthammer Brief summary

    Fast Facts
    1. Born: March 13, 1950
    2. Birthplace: New York City, New York
    3. Raised in Montreal, Canada
    4. Attended McGill University and Harvard Medical School
    5. 1972 diving accident left him a paraplegic
    6. Directed psychiatric research for the Carter administration
    7. Began writing career in 1981 with The New Republic
    8. Helped develop the “Reagan Doctrine” in the 80s
    9. Appointed to Presidential Council on Bioethics in 2002

    Dr. Charles Krauthammer
    We see him on TV every weekday on the Fox news channel
    Dr. Krauthammer is on Fox News . He is an M.D. And a lawyer and is paralyzed from the neck down. A friend went to hear Charles Krauthammer. He listened with 25 others in a closed room. What he says here, is NOT 2nd-hand but 1st. The ramifications are staggering for us, our children and their children.

    Last Monday was a profound evening, Dr. Charles Krauthammer spoke to the Center for the American Experiment.. He is a brilliant intellectual, seasoned & articulate. He is forthright and careful in his analysis, and never resorts to emotions or personal insults. He is NOT a fear monger nor an extremist in his comments and views . He is a fiscal conservative, and has received a Pulitzer Prizefor writing. He is a frequent contributor to Fox News and writes weekly for the Washington Post.

    The entire room was held spellbound during his talk. I have summarized his comments, as we are living in uncharted waters economically and internationally. Even 2 Dems at my table agreed with everything he said!

    Summary of his comments:

    1. Obama is an intellectual, charming individual. He is not to be underestimated. He is a cool customer who doesn’t show his emotions. It’s very hard to know what’s behind the mask. The taking down of the Clinton dynasty was an amazing accomplishment. The Clintons still do not understand what hit them. Obama was in the perfect place at the perfect time.

    2. Obama has political skills comparable to Reagan and Clinton .. He has a way of making you think he’s on your side, agreeing with your position, while doing the opposite. Pay no attention to what he SAYS; rather,watch what he DOES!

    3. Obama has a ruthless quest for power. He did not come to Washington to make something out of himself, but rather to change everything, including dismantling capitalism. He can’t be straightforward on his ambitions, as the public would not go along. He has a heavy hand, and wants to level the playing field with income redistribution and punishment to the achievers of society. He would like to model the USA to Great Britain or Canada .

    4. His three main goals are to control ENERGY, PUBLIC EDUCATION, and NATIONAL HEALTHCARE by the Federal government. He doesn’t care about the auto or financial services industries, but got them as an early bonus. The cap and trade will add costs to everything and stifle growth. Paying for FREE college education is his goal. Most scary is his healthcare program, because if you make it FREE and add 46,000,000 people to a Medicare-type single-payer system, the costs will go through the roof. The only way to control costs is with massive RATIONING of services, like in Canada .

    5. He has surrounded himself with mostly far-left academic types. No one around him has ever even run a candy store. But they are going to try and run the auto, financial, banking and other industries. This obviously can’t work in the long run. Obama is not a socialist; rather he’s a far-left secular progressive bent on nothing short of revolution. He ran as a moderate, but will govern from the hard left. Again, watch what he does, not what he says.

    6. Obama doesn’t really see himself as President of the United States , but more as a ruler over the world.. He sees himself above it all, trying to orchestrate & coordinate various countries and their agendas. He sees moral equivalency in all cultures. His apology tour in Germany and England was a prime example of how he sees America, as an imperialist nation that has been arrogant, rather than a great noble nation that has at times made errors. This is the first President ever who has chastised our allies and appeased our enemies!

    7. He is now handing out goodies. He hopes that the bill (and pain) will not come due until after he is reelected in 2012. He would like to blame all problems on Bush from the past, and hopefully his successor in the future. He has a huge ego, and Dr. Krauthammer believes he is a narcissist.

    8.. Republicans are in the wilderness for a while, but will emerge strong. Republicans are pining for another Reagan, but there will never be another like him. Krauthammer believes Mitt Romney, Tim Pawlenty & Bobby Jindahl (except for his terrible speech in February) are the future of the party. Newt Gingrich is brilliant, but has baggage. Sarah Palin is sincere and intelligent, but needs to really be seriously boning up on facts and info if she is to be a serious candidate in the future… We need to return to the party of lower taxes, smaller government, personal responsibility, strong national defense, and state’s rights.

    9. The current level of spending is irresponsible and outrageous. We are spending trillions that we don’t have.. This could lead to hyperinflation, depression or worse.Nocountry has ever spent themselves into prosperity. The media is giving Obama, Reid and Pelosi a pass because they love their agenda. But eventually the bill will come due and people will realize the huge bailouts didn’t work, nor will the stimulus packages. These were trillion-dollar payoffs to Obama’s allies, unions and the Congress to placate the left, so he can get support for #4 above.

    10. The election was over in mid-September when Lehman brothers failed, fear and panic swept in,we had an unpopular President, and the war was grinding on indefinitely without a clear outcome. The people are in pain, and the mantra of change caused people to act emotionally.Any Dem. would have won this election; it was surprising it was as close as it was.

    11. In 2012, if the unemployment rate is over 10%, Republicans will be swept back into power. If it’s under 8%, the Dems continue to roll. If it’s between 8-10%, it will be a dogfight. It will all be about the economy. I hope this gets you really thinking about what’s happening in Washington and Congress. There is a left-wing revolution going on, according to Krauthammer, and he encourages us to keep the faith and join the loyal resistance. The work will be hard, but we’re right on most issues and can reclaim our country, before it’s far too late.

    Do yourself a long term favor, send this to all who will listen to an intelligent assessment of the big picture. All our futures and children’s futures depend on our understanding of what is really going on in D.C., and our action pursuant to that understanding!! It really IS up to each of us to take individual action!! Start with enlightening your friends and neighbors!!!

    This man Dr. Charles Krauthammer is rarely if ever wrong.

    Laus Deo
    Semper Fi

    • Nadzieja Batki

      This a very correct assessment.

    • Alex

      Charlie Krauthammer is a disgusting pig—and to suggest that he does not resort to name-calling and emotion is ridiculous.

      PS—Latin is dead

      • http://?? Joe H.

        thanks for proving us conservatives right in that you progressives are the first to resort to name calling!!

      • Nadzieja Batki

        Lady, you are way too sensitive.

      • Allan

        You complain that no conservatives ever offer a reasoned argument. So you run into one from a man who is also paralyzed from the neck down, and your response is to call him a disgusting pig. Hey, that’s classy.

  • http://gunner689 gunner689

    If I were in charge of balancing the budget and had the power to do it, I would do the following.
    1) do away with the base-line budgeting scam.
    2) roll the budget to a previous yrs. numbers that are acceptable.
    3) no gvt. spending above budget numbers and no new gvt. hiring.
    4) raise the retirement age to 68
    5) do away with foreign aid to all countries except Israel.
    6) call in all debts owed the US since WW2 by other nations.
    7) kick the UN out of the US
    8) cut off most welfare benefits. Drug test everyone before they get their welfare check. No check if you fail the test and have to requalify.
    9) zero immigration for any unskilled workers, especially from third world countries.
    10) raise taxes on companies that mfg. outside of the US and lower taxes on those who produce domestically.
    11) make all states “Right to Work States.”
    12) elimianate inheritance and capital gains taxes
    13) eliminate Dept. of Education, Dept. of Labor, Dept. of Housing, EPA, and any other redundant gvt agency, and allow the States to resume their roles in these matters.
    14) increase investment tax credits to individuals who invest in American made products, goods, and services.

    This is just a start but would, I believe put America on the road to recovery.

    • Raggs

      Thats a really good start now lets get it done….

  • Raggs

    Way to go big boy oblama pat yourself on the back ( again ) The european economy is NOW tanking faster than pelosi spewing out a lie and it’s all thanks to you oblama….

    • Alex

      Wrong again, Raghead

      • jibbs

        WOW, your smart…

        • http://?? Joe H.

          sorry, but I have to call you wrong on that!!!

  • chuckb

    feedom fighter, krauthammer was taken in the same way a lot of other so called intellectuals. if the truth was known i wonder if he would appraise barry the same way today.
    he shows no indication of being a brain, con man yes, but no intellectual. you might call him the wizard of the teleprompter.

    krauthammer is a very intelligent person, however,occasionally there is a very liberal streak that shows. i classify him the same as karl rove, they are the liberal wing of the republican party.

    • Trude

      Intelligence without wisdom is worthless. While it is admirable that
      Dr. Krauthammer has managed to create a career despite of his physical handicap, his opinion that Mitt Romneycare is the future of
      the Republican Party bodes ill for those who want a truly limited gvt.
      It is as if no one really wishes to rock the boat too much. Otherwise
      candidate and former Governor Gary Johnson might have been mentioned as he left N.M. with a surplus, and used his veto powers approx. 800
      times (how does that compare to Bush ?).
      Having been weaned in a Nazi-occupied country, and raised in a socialist one, I can see patterns and it is fearsome. Americans need
      to re-discover their spines.

  • professor

    Freedomfighter thanks for the info. krauthammer is usually right and gives an unemotional assessment. I respect what he has to say.

    it is true that occasionally Krauthammer seems to show a “liberal streak.” May be an attempt to be more “balanced” while on Fox News.
    I have noticed that since this administration has focused on Fox, there has been a little pandering by all pundits and hosts (especially from O’Reilly.) I am sure there is some strong-arming by the progressives in Washington. Still, I would trust Krauthammer and what he has to say. I would expect him to be one of the last people that would compromise an assessments.

    • Nadzieja Batki

      Can it be determined who owns the largest percentage of the Fox channel? We may think it is Murdoch and he may just like playing both sides of the political fence.
      Even among conservatives they are so very careful how they word the commentaries on politics because their jobs and their lives may be in danger.

      • professor

        The second largest investor in News Corp is Prince Alwaleed bin Talal al-Saud, of Saudi Arabia and a member of the Royal Family. He is said to be the richest Saudi Arabian…

  • tree hugger

    Really Sarah Palin is sincere and intelligent. Shes been shown to be neither. Krauthammer lost his mind years ago.With a name like Krauthammer he may be in cahoots with Adolph Obama.

    • http://?? Joe H.

      tree hugger,
      Post again when you have something halfway intelligent to say!! That last one had no intelligence at all!!

  • tree hugger


  • chuckb

    tree hugger, let go of the tree, it’s already cut down.

  • Old Henry


    Can you hear me slamming my fist on the desk?

    There would be NO debt default. If I hear one more idiot say that i’m gonna go off.

    The U.S. Treasury confiscates over $200 billion per month from those of us who pay taxes – 47% pay none – and the debt service is $29 billion.

    The only way a default would occur is by a conscious decision by Little Barry and his tax cheat to do so.

    What the scum in D.C. were worried about was the American people finding out that we could get along just fine without most of the government once it was forced to shut down.

    • http://?? Joe H.

      Old Henry,
      you mean like when they were worried about the budget passing and when asked what they were going to do if the budget didn’t pass, they said we will have to tell all non-essential employees not to come in? If they are non-essential, then why the hell are we PAYING THEM??? If they are not needed, GET RID OF THEM!!!!

  • Larry Owens

    Our so called political leaders (laughing under my breath) and the BIG government machine/departments are like a bunch of alcoholics but in their case they are addicted to spending money like there is no end to it or they just don’t care or give a crap about the country and the American people, after all they have all their Good benefits and make lots of money and plenty of deals under the table to make more money.

    So that leaves “We the People” ignored and they know they have us Fooled. Yep they have just “Kicked the Can” down the road again nothing has changed and they act like they did such a wonderful job in getting the debt deal done at the last minute.

    What is it going to take to Change or take this country from a bunch of money hungry Thieves? The crap has to hit the fan eventually and what will “We the people” do?

  • professor

    Take the wealth of this Nation, our revenue and assets, from the control of Congress!

  • Alex

    Anyone expecting some sort of recovery with the Debt Ceiling bill has sipped too much kool-aid.

    The weak and scattered Obama Administration caved to Tea Bag pressure (again) because the rethuglicans held a gun to the head of the Amerikan people (again)—this bill will result in upwards of TWO MILLION MORE lost jobs due to the forthcoming cuts.

    The wealthy DO NOT create jobs with tax cuts—this has been shown over and over. You Teagaggers should look for the jobs created by the FIRST EIGHT YEARS of Bush Tax Cuts—they are not there!! In fact, when war criminal Bush was in his second interminable term this country was hemorrhaging over 750,000 jobs PER MONTH!!

    We learned from Ronald Raygun that the only thing that trickles down is urine. Job programs and government spending create jobs—the wealthy only get wealthier.

    Thank God the GOP is shooting itself in its bloated feet—as things continue to crumble, even the ignorant Amerikan sheeple will see that the Rethuglican Reich Wingers are to blame.

    • http://?? Joe H.

      funny, the unemployment rate when he left was about 6.75%! Its now (wait for it) 9.5%+. Almost 3% higher???? The people with some money sense(definately NOT you) knew that when Barry took over things were gonna go to hell, THAT is why the rate rose so rapidly in the last two years!!

      • Thinking About

        Actually the unemployment rate was 4.2 in January 2001 and it was 7.8 in January 2009. The current rate is 9.1 which results in 1.3 increase in the Obama administration.

  • tree hugger


    • http://deleted Claire

      There were no winners in the bill that was just passed. No winners at all. Only losers. A stalemate and there is more to come–stalemates, that is.

  • chuckb

    you have it all backwards alex, the republican rino’s caved in to barry.
    we had a complete loss with the barry administration now it is even worse. even with all the times bush gave in to the bolshevik congress, his record was far better then the muslim in chief.
    those of the tea party that voted yes on the debt bill should be voted out in 2012, there’s no excuse for them. boehner and mcconnell should be ousted.
    if we do not get rid of these parasites like boehner/mcconnell and win the presidency nothing will change.
    the republican congress should replace boehner as speaker.

  • simian pete

    Most Americans want a mixed economy. That’s why they vote for these politicians. The biggest mistake government has made is borrowing money. The Federal Government should not be allowed to borrow money.

    The social programs like welfare, medicaid, social security, food stamps and healthcare should be paid for with tax revenue. No borrowing ! No extra taxes !

    Government would be able to “grow” these programs (as needed) if they only didn’t borrow money. They wouldn’t be able to spend money they don’t have….

    A balance budget amendment would be a good idea. If the American voter should pay – not borrow…..

    • simian pete

      .. then we wouldn’t have to worry about deficits, massive crippling trillion $ debts, or paying the Fed Reserve and government bond holders billions of dollars .

  • James

    The goal of reducing the annual deficit was a step in the right direction, but it hasn’t happened yet. If their goal is to reduce spending by $2.1 trillion over the next ten years, that will still add $7 trillion to the national debt. And spending that much less into the economy will effect more business slow downs and raise unemployment. If they cut defense spending, as they are considering by 50%, shipyards, plane and tank factories will lay off more people.

  • http://gunner689 gunner689

    Congress has kicked the debt can down the road until it’s become a 55 gal. drum. Nothing is going to change until the American people wise up and elect responsible leaders.

  • Earl, QUEENS, NY

    DON’T BLAME ME – I VOTE GOP!! That should be our motto. Likewise, we shouldn’t put too much blame on the GOP. Put the blame where it belongs – on the liberal profligate spending Democraps, who created most of this unsustainable debt in the first place. Of course we get frustrated with RINOs and GOP wimps who cower to liberal Democraps. But does anyone really believe Democraps will be more conservative?? GET REAL!! Let’s not forget that all GOP House members voted against the failed $800+ billion stimulus/porkulus bill 2 ½ years ago. All Senators (except Benedict Arnold Specter and the 2 dingbat RINOs from Maine) voted against porkulus. Now, if we could only take porkulus out of the baseline for future budgets, that alone would cut our deficits in half. But the GOP doesn’t control the Senate or White House, so that cannot happen now.

    Also consider that all of the GOP voted against Obamacare, which will no doubt add to deficits and debt. And a majority of Americans want Obamacare repealed. But if the majority had voted wisely in 2008, there’d be no need to repeal Obama-care because it never would’ve passed in the 1st place!! Likewise, a majority want a better debt deal than the one just passed. But if the majority had voted wisely in 2006 and 2008, we wouldn’t have such large deficits and debt in the 1st place!! A large % of voters don’t realize elections have consequences, and electing Democraps only makes bad situations worse!! USE COMMON SENSE AMERICA!!!! VOTE WISELY IN THE FUTURE!!

  • Thinking About

    Ask Perry if the stimulus helped, his job growth and a better budget is what he is bragging about.

  • Lawrence

    They simply won’t face reality. The longer they kick the can the worse it will get


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