Biden: Without Stimulus, U.S. Would Go Bankrupt

[banca rotta]

Are you kidding me? So essentially, you are saying let's purposely sit around and do nothing just so we can teach the "younger generation" a lesson. I'm sorry, I didn't realize that the "younger generation" was the sole problem of our economic situation. Do you realize that in the depression the unemployment rate was 25%, and I think underemployment was up near 50%. I get the feeling that either (A) You have no idea what the depression was like, (B) you have lived in poverty all your life so a full-bore depression wouldn't affect you anyway, or (C) you have a very limited education. You can't be serious! You want to teach the "younger generation" a lesson by standing back and watching our economy crumble into ashes??!! I'm sorry pal, but that is about the most asinine thing I've ever heard anybody say about the solution to our country's situation.

I happen to agree with overmylimit but I wouldn't blame nor would I want to single out any particular generation. Anyone with the entitlement mentality that must live for the moment is about to get an education like never before seen in our lifetime.

[Overmylimit]

Are you kidding me? So essentially, you are saying let's purposely sit around and do nothing just so we can teach the "younger generation" a lesson.

No I meant it as an exaggeration of what should be done.







I'm sorry, I didn't realize that the "younger generation" was the sole problem of our economic situation.


Their not but most take for granted just about everything they are given, that is unless you live in rural Iowa somewhere with old fashioned values and supper everynight at 5:00


Do you realize that in the depression the unemployment rate was 25%, and I think underemployment was up near 50%.


Yes even though I am 44 I have read history.



I get the feeling that either (A) You have no idea what the depression was like


Your right due to the space time continuum I in fact wasn't there.


(B) you have lived in poverty all your life so a full-bore depression wouldn't affect you anyway


I have much to lose if this were to happen, however sometimes what is best for all doesn't mean it would be good for me....sometimes sacrifice is needed for the greater good, and no I'm no tree hugger...Conservative all the way.


(C) you have a very limited education.



You got me! I took awhile, yes I barely finished High School chasing girls, racing cars and drinking beer...all that takes $$ so as soon as I was out worked so I could start making $, so I did and now run/own 2 business's that gross into the low seven figures each year.


You can't be serious! You want to teach the "younger generation" a lesson by standing back and watching our economy crumble into ashes??!!


I have 3 kids in College and yes I pay that bill, let me rephrase EVERYBODY needs to go back to a more grounded way and values not just kids...oh and from where I sit (foreclosure capital of the US) its already crumbling.


I'm sorry pal, but that is about the most asinine thing I've ever heard anybody say about the solution to our country's situation.


Asinine, sure sometimes just ask my Wife...but I haven't heard you plan yet, is it as good as Obama's?

[Overmylimit]

Anyone with the entitlement mentality that must live for the moment is about to get an education like never before seen in our lifetime.

No truer words have ever been typed.

[Bandit]

Their not but most take for granted just about everything they are given, that is unless you live in rural Iowa somewhere with old fashioned values and supper everynight at 5:00

How loving, old fashioned, responsible and full of integrity.

[Bandit]

Only a politician can make a statement "America will go bk if we don't borrow and spend". What an insult to us all.

That is pretty stupid.
It is like Bush asking, "How much is a gallon of gas?" after they asked him about it & it topped out at $5.50 gallon in a lot of places. He acted like he had no clue what was even happening to the people.

They know, they just act dumb when facing the public when it is convenient for them.

[Overmylimit]

How loving, old fashioned, responsible and full of integrity.

I grew up close to this, see you get my point...

[JRScott]

what a bunch of neo-con rhetoric crap on here. The mess that we are in wasn't started by government overspending, it was started by the greedy idiots in the financial institutions taking advantage of the publics desire to own a home. We have a debt problem now, but what are we supposed to do? Just let the entire financial system collapse? Let the free market system sort everything out?? Yea right!! That worked real good for the Hoover administration didn't it. I love the pot shots people take with little or no solutions of their own. It's just like the self-destructing republican party itself, all noise and no substance.

Government overspending has led to us being on the brink of bankruptcy as a nation, basically what they are doing now is stuff many of us tried to do to avoid bankruptcy, rob from Paul to pay Peter, etc. It doesn't work, never has.

The federal government on their cooked books even only has 4 positive years over the last 50 ( 1under Nixon, 3 under Clinton), however even those were lies as it didn't account for the money they took out of Social Security to spend on other things.

We have already not counting the current national health care debate over 53 trillion in unfunded liabilities from Social Security, Medicare and Medicaid going forward in the next 30 years. Social Security had to borrow money earlier this year from the government (you know the government that has been robbing the fund for decades) to stay afloat....it's basically insolvent already. Even if you could replace all the money they took out you'd never get back all the lost compounded interest which was needed to support the baby boomers as they retired.

It simply can't go on, and it will shortly within the next decade or so hit the point of no return where many of these programs will have to be shuttered due to lack of money due to the growing national debt. The government within 3 years will be paying more on interest payments on the debt than they use to fund Social Security a year.

In essence we are bankrupt as a nation. That has been caused by people wanting the government to provide everything for them while doing nothing.

[justbroke]

Anyone who blames a single political party for this mess... just doesn't get it. Anyone who blames the greed of People individually, or the greed of Banks individually... just doesn't get it.

It was a house of cards. Lies built upon lies, upon lies. It was bound to come down at some point.

[JRScott]

Are you kidding me? So essentially, you are saying let's purposely sit around and do nothing just so we can teach the "younger generation" a lesson. I'm sorry, I didn't realize that the "younger generation" was the sole problem of our economic situation. Do you realize that in the depression the unemployment rate was 25%, and I think underemployment was up near 50%. I get the feeling that either (A) You have no idea what the depression was like, (B) you have lived in poverty all your life so a full-bore depression wouldn't affect you anyway, or (C) you have a very limited education. You can't be serious! You want to teach the "younger generation" a lesson by standing back and watching our economy crumble into ashes??!! I'm sorry pal, but that is about the most asinine thing I've ever heard anybody say about the solution to our country's situation.

It's the only thing to fix the nation, our economy over the last 30 years has been primarily a lie. We sold our future (that is today and the next decades to come) for a short term gain. It was all built on money we did not have and could not repay.

Adversity and hardship are the greatest teachers. I had a couple of great aunts, neither of whom made much money in life but when they died they had a considerable amount of money saved up. They had grown up in the depression. They did not believe in debt of any sort. They considered it a great sin. So they lived below their means and saved all their lives. Thus they had enough to do themselves for their lifetime even after retiring (and they lived about 20 years after retiring). They also died debt free. I wish my parents generation had learned from that generation and passed it on to my generation, but that did not happen. Some lessons must be learned by oneself and the handling of money is one of those.

[Bandit]

Anyone who blames a single political party for this mess... just doesn't get it. Anyone who blames the greed of People individually, or the greed of Banks individually... just doesn't get it.

It was a house of cards. Lies built upon lies, upon lies. It was bound to come down at some point.

'tis true. one big ugly world full of lies. lie built upon lie. I am so disappointed with humans in the USA at the extreme loss of integrity in the last decade.

[Bandit]

I grew up close to this, see you get my point...

Me too. Those were the best of times.

I was at a red light the other night and 5 kids were in daddys SUV and the driver under 18 starts rapping, "I will f*ck you up, I will hurt you, I will kick you to the curb and I will kill you........"..and screaming it like an old AC/DC song.

This generation scares me because they are promoting violence just for fun instead of realizing you have to build things instead of destroy them. I was telliing myself that I was going to floor it & run the red light if it did not change to green soon and had my cell ready to dial 911. These times are ridiculous.

[DumbTeacher]

Our so-called independent media made sure to portray Gerald Ford, Ronald Reagan, Dan Quayle and George Bush as bumbling stooges. Of course none were. However, we now have Joe Biden who portrays Bozo the Clown better than anyone ever has in Washington and we neither read nor hear anything from the media about what an imbecile he really is as VP.

Joe Biden was the one that told us FDR comforted a nation on TV. FDR died in 1945, TV became relevant in late 40's.

It's almost as bad as Al Gore inventing something.

[Bandit]

Joe Biden was the one that told us FDR comforted a nation on TV. FDR died in 1945, TV became relevant in late 40's.

It's almost as bad as Al Gore inventing something.

TV has been around being broadcasted on in 1928. I compare Bidden more to McCain, both with 2 left feet.

[Bandit]

When I was at work some years back I was having a conversation with a concrete truck driver who was about to pour concrete at a project I was working on. It was about a month or two after 9/11 as I recall. I don't remember the exact dialogue, but we were basically discussing what Bush was doing, the new found nationalism, our new war in Afghanistan, and all that kind of stuff. I then expressed to him something along the lines of "I just hope they do what needs to be done to never let that happen again." The concrete truck driver then said "I hope we do get hit again, just to teach all the liberals a lesson! Hopefully it will be even worse than 9/11! That way the liberals will learn that we must do everything and anything to destroy Al Quaeda!" At this point, I walked away.

You remind me of that concrete truck driver quite a bit JR Scott. So basically you're saying let's just sit back, do nothing, and allow a bunch of innocent lives to be utterly destroyed just so we can teach our fellow citizens a lesson. Whatever guy. That's quite a solution there! Let's turn our country into a cess pool for years and years just so we can learn a good hard lesson. Great idea! I suggest you do a little research into what the Great Depression was like.

With your logic, we shouldn't even have bankruptcy. We should just be forced into a prison labor camp to work off our debt, no matter how long it takes or how terrible the consequences. We have to learn a hard lesson, right! No, sorry JR, fortunately we live in a civilized society. Of course, you've already been through your bankruptcy, so what would you care.

That is what you said. Not even close to what JRScott said. Your whole post is really rude for not knowing him.

and, If he did not care he would not still be here helping hundreds for free & comforting others as they go through their BK.

[JRScott]

When I was at work some years back I was having a conversation with a concrete truck driver who was about to pour concrete at a project I was working on. It was about a month or two after 9/11 as I recall. I don't remember the exact dialogue, but we were basically discussing what Bush was doing, the new found nationalism, our new war in Afghanistan, and all that kind of stuff. I then expressed to him something along the lines of "I just hope they do what needs to be done to never let that happen again." The concrete truck driver then said "I hope we do get hit again, just to teach all the liberals a lesson! Hopefully it will be even worse than 9/11! That way the liberals will learn that we must do everything and anything to destroy Al Quaeda!" At this point, I walked away.

You remind me of that concrete truck driver quite a bit JR Scott. So basically you're saying let's just sit back, do nothing, and allow a bunch of innocent lives to be utterly destroyed just so we can teach our fellow citizens a lesson. Whatever guy. That's quite a solution there! Let's turn our country into a cess pool for years and years just so we can learn a good hard lesson. Great idea! I suggest you do a little research into what the Great Depression was like.

With your logic, we shouldn't even have bankruptcy. We should just be forced into a prison labor camp to work off our debt, no matter how long it takes or how terrible the consequences. We have to learn a hard lesson, right! No, sorry JR, fortunately we live in a civilized society. Of course, you've already been through your bankruptcy, so what would you care.

Very sad your mind.

I'm well aware of what the Great Depression was like.

I know a good bit about American History, Do you know what made the Great Depression the Great Depression in the United States, whereas the rest of the world only had a Depression? Do you know why it last for a decade in the United States? FDR. His policies of an overreaching federal government led to the Great Depression. BHO is repeating those same mistakes today even as GWB was in the last year of his administration.

Do you know the last time the United States was debt free? Andrew Jackson was President then. He is the only President to ever pay off the national debt and he did it by closing the Bank of the United States which was very similar to our current Federal Reserve Bank and moving the nation's deposits to local and state banks.

Bankruptcy is a Constitutional Right, Article I Section 8 of the United States Constitution.

The faster you hit the bottom in any economic downturn the faster you return to an uptick. That is historically proven. The more you meddle with the natural progression of ups and downs of the economy the more you draw out the process and the more you cause harm. This is true in every nation, not just America.

You see all these stimulus, TARPS etc are meaningless because they do not fix the undercurrent of the problem. The Problem is Americans have been spending more than they earn and they've been doing it for decades, in their personal lives, in their businesses and in their governments. We need to hit bottom now before it is to late and make changes to our governmental programs. Without them we are looking at total economic collapse in 10-15 years because we simply will not be able to fund the entitlement programs we have then, not even at 100% tax rates. You may have heard of Obama's matra, Now or Never on National Health Care. The reason is because he knows if he doesn't get it passed now the American people will realize they can't afford it. Every state in the Union that has tried it has come close to bankruptcy.

Cap and Trade and National Health Care as they are in Congerss today will bankrupt our nation. What good is a National Health Care program today if you have to cancel it in 5 years because you can't afford it? What good is Cap and Trade when every nation that has tried it has suffered high unemployment and no net effect on emissions....Europe's had the system for years. It doesn't work. (Not only that but Earth is only returning to its average mean temperature.....before the Holocene period the Earth was much much hotter than it is today). Global Warming is a fear tactic meant to enrich certain people, for example in the last decade Al Gore's net worth has increased 5000%. We can't stop the Globe from warming. What we could do is begin serious space exploration, many scientists for decades have argued we need to be a two planet species if we are to survive as a global catastrophe on one will not affect the other.

When the Federal Government goes bankrupt you will be looking at the elimination of all the entitlement programs. Welfare will be gone because they can't afford it. I look at the current stringing of people along for short terrm political gain as worse than being honest and ending programs that were bad ideas to begin with. While there are certainly people who need outside assistance, that assistance should come first from family, then local communities and churches not the federal government. There are a great number who abuse the system, who are fully capable of working but chose not to so that they can just siphon off of everyone else.
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