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Read up on the spankin’ new budget from the current Prez which will apparently usher in “A New Era of Responsibility.”

  1. Cap'nKangaroo says:

    I heard on the radio that the Obama admin is using the figure of 3.2% growth in the GDP for the budget year. Does anyone else find this highly optimistic? To the point of delusion?

  2. giantblah says:

    Since when are Reagan and Bush Jr considered fiscal conservatives????

  3. LibertyLover says:

    #47, I’m not a defender of the banking system, but show me when this utopia-Ayn-Rand system of laissez faire capitalism existed.

    It has never existed because the majority of people don’t believe they can make it on their own. It is only the individualist who rises above everyone else. Show me anyone on welfare who has done anything other than be a drain on society. Only after standing up for themselves have they become productive citizens.

    I love Libertarians and their little fantasy world (actually, they have good points that do need to be worked into the fabric of our county), but to think that any politician in this day and age would sit back and not do anything while possibly the Greatest Depression unfolds is a whole new level of dreamland.

    Only because it hasn’t been tried before. We’ve tried everything else and it hasn’t worked. Perhaps we should.

  4. ECA says:

    shows an interesting trend..
    as wages go up, and TOP CEO’s are getting more money…the COSTS go up also..

  5. ECA says:

    2 points to make here…
    1. if you look at the tax for everyone, its ALMOST a FLAT TAX ALREADY, or was..
    2. IF you look, there are WAYS around the tax, and the RICH use many of them..
    One is to NOT TAKE a salary, but let the company PAY for your expenses.. WHICH makes it a write off to the corp, and NO TAX to the person(s)..
    Another is to create a SUB company that receives money from the corp. THAT is a tax write off to the CORP, and the company shows expenses, and NO PROFIT…which makes ALMOST everything a write off. A couple of these NO PROFIT companies can make you good money..

    See, the IRS hasnt done a remarkable thing..
    an Inter-relative system to TRACK costs and payments to ALL legit companies and corps. it makes it EASY to hide money..

  6. MikeN says:

    >the short-term we can all agree would be massive bank falures, massive increase in inflation and massive unemployment.

    No we don’t all agree on this.
    A gold standard serves to reduce inflation, not increase it. You get more inflation without a gold standard since it makes it easier for the government to print more money.

  7. MikeN says:

    >It is barter based on gold with paper money being a lighter symbol.

    What? A barter system is … with money…
    is a contradiction.

  8. Uncle Patso says:

    # 41 bobbo said, in part:

    “QB–deflation? Usually that refers to the economy at large meaning things are getting cheaper, everything I buy is more expensive than a year ago except for gas and computer parts? The value of our money is deflating meaning we have to pay more dollars for the same thing.”

    Yes, some things are still going up in price, but the biggest things — houses, companies (stock) — are falling in price. This is kind of an anomalous situation, but nevertheless real. We are having inflation and deflation at the same time.

    I hate inflation, especially when it’s intentional. It steals from me; my purchasing power is lessened. But people who owe a lot love inflation as it decreases their debt. They HATE deflation, as it means they will have to pay back more. This is part of the reason for the credit crunch: too many people whose houses are “under water” (debt now greater than the market value of their house) just walking away kills the lenders. They’re afraid to lend more now, in case deflation continues and too many people just walk away, default, go into bankruptcy, whatever.

    Deflation is real.

    – – – – –

    # 63 LibertyLover (who must be a true Ayn Rand fan) said, in part:

    “Show me anyone on welfare who has done anything other than be a drain on society.”

    Once, after working at the same place for eleven years (the best job in my whole life), I was forced out. I received unemployment benefits, which allowed me to keep my apartment and not have to live on the streets. When I got a job that started in three weeks, they sent me all three weeks’ worth of benefits at once, which allowed me to take a bus to California and pick up the car my brother was giving me (which he got from our mother) so I could drive to work. Then I worked at that place for four or five years.

    So, 15 to 16 years of productive, tax-paying, unemployment insurance-paying work, with some two or three months of “welfare” in between. This is about average for recipients of welfare. All the social workers say so.

  9. LibertyLover says:

    #69, Why did you look for another job once you were on unemployment?

    And note: I don’t consider unemployment insurance to be in the same boat as welfare.

  10. bobbo says:

    therefore everyone should pay tax, rich or poor, via a “fair tax.” //// hah, hah.

  11. Paddy-O says:

    New O’mama broad based energy tax is going hit every American. What happened to no new taxes on those making less $150k, or $100k or $70k or, or, or?

  12. MikeN says:

    Eight years of George W Bush’s deficits, various disingenuous Republicans kept saying they were forced into it by Democrats, didn’t want the ads about draconian budget cuts and no services for the poor, and that it would be so much worse with the Dems in charge. Any look at the charts showed that this was bogus. Republican Congress spent less with a Democrat President, and it was even less with a Democrat President and a Democratic Congress.

    Now we see that the current Democratic Congres and Democratic President will in fact equal George Bush’s 8 year total deficit in 20 months.

  13. ECA says:

    If you look at inflation..
    It started 10-15 years ago..
    SLOWLY prices started going up.
    About 9 years ago, it started going faster.
    3 years ago hit started RUNNING faster.

    Find a reason for the inflation??
    1. wage increase’s for the bottom wage earners.
    2. Wage increase’s for the TOP.
    And its funny. as the bottom gets a 10% increase, the TOP wants at LEAST 10% more.. except that $0.50 increase on the bottom, IS NOT EQUAL to $100,000-$1,000,000 increase at the top.

  14. Paddy-O says:

    # 76 ECA said, “If you look at inflation..
    It started 10-15 years ago..”

    No. Inflation actually started exploding between ’72-’74.

    Reason? Injection of currency that is running WAY ahead of year to year change in actual GNP.

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