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We jumped a cliff long ago

January 8, 2013

Are you spending twice as much as you did 10 years ago? Probably not; you’d either feel as if you’d struck it rich or your creditors would be forming a posse to come after you if you wer....

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Feb-02-13 12:38 AM

Continuing large Federal deficits are a mortal threat to America’s future. Investors must eventually realize America can never pay off the debts Washington DC has created, at which time the world will no longer accept American dollars. Americans will learn about hyperinflation, just as citizens of the Weimar Republic, Yugoslavia, and Zimbabwe learned it before us: economic collapse, citizen’s life savings become worthless, human beings cannot carry enough paper money to buy food, no matter how many ‘zeroes’ are printed on the paper.

Dependence on Federal Government has proven a disastrous alternative to reliance on Divine Providence. Huge Federal agencies with enormous payrolls create a tsunami of Federal regulations that make it difficult for businesses to survive, much less hire new workers. Laws that require retirement with 30 years left to live, and laws that give medical benefits to most of the population at far below cost, create enormous debts our nation can never repay.

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Feb-02-13 12:37 AM

Big government’s gain is our society’s pain. Trillions of dollars of new Federal deficit spending have only prolonged the worst recession since the Great Depression – except in the boomtown of Washington DC, where exotic Italian sports cars are now routinely purchased with cash.

$16.4 trillion dollars in current Federal debt means our Federal Government has permanently stunted America’s growth. Every American child born today is born owing a $52,000 share of current public debt, which they will pay interest on the rest of their lives. Greeks owe far less.

Every time the debt ceiling is raised it condemns our children and their children to worse lives, because funds used to pay interest are forever unavailable for capital formation.

To ‘keep the promises’ of lawmakers who legislated benefits designed to drive votes, every American citizen now owes 100% of our gross income for ~6 ½ years. It is not possible.

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Feb-02-13 12:37 AM

Large Federal deficits mean higher future taxes, just as using a credit card means higher future credit card bills.

Informed citizens understand that large Federal budget deficits prevent jobs today and steal tomorrow’s economic growth. Large Federal deficits mean entrepreneurs cannot predict a reward tomorrow for risking capital today. Large Federal deficits mean many projects that would otherwise go forward will never be approved, because they cannot be expected to earn a return sufficient to pay off under higher future taxes tomorrow.

Why tolerate large Federal budget deficits? Because the political class in Washington DC lives better than kings of old from siphoning off a portion of the trillions of dollars of Federal spending, including proceeds of the loans that become part of our Federal debt.

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Jan-09-13 2:00 PM

Truthseeker, I'm not a bit jealous, I have my own so I don't need to be. But I do understand that because I do I can well afford to pay my fair share of taxes also. My secretary and other employees should not have to pay more taxes than I do. If I pay more taxes, I still have enough money to live a comfortable life. I'd rather those in the middleclass be able to keep more of their money to be able to support their families. In the long run that would help us all because their would be less working poor to depend on the government, such as foodstamps and healthcare. As a smaller business person, I get no perks Exxon and other big corporation get. Not much support from government in any way. As far as lies and deceit go, the Republican party has proved especially during the last election that they are the masters of both....

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Jan-09-13 5:07 AM

Jealous and envious much playfare? bwahaha...only children resort to jealousies over what someone else has earned. Liberalism; feeling sorry for themselves because they can't have what someone else has. In reality all they have to do is work hard and get it themselves. Laziness breeds unsuccess.

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Jan-09-13 5:05 AM

It's always hilarious to hear liberals say Clinton era was doing fine fiscally when it wasn't Clinton that did it. See, Clinton had a Republican-controlled congress & was 'forced' to do things he did not want to do like cut spending. It is the congress who passes or not spending bills and such. But liberals have a problem that makes it impossible to 'comprehend' fact from fiction. Nice try playfare, but your name belies your words. You, just like the left, don't play 'fair' nor deal in reality. When oh when will you deceivers learn that we are too smart to fall for liberal lies and deceit? Obama, typical liberal fashion, is a common tax-and-spend liberal democrat with large doses of radical tendencies to undermine the citizens' rights and disobey our laws of the land. Payday is coming and job losses in congress next election. Goodbye crooked, deceitful taxing and spending liberals.

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Jan-08-13 7:32 PM

Republicans are against spending when it doesn't involve their special interest and their friends. Big business and big oil just couldn't survive without their tax breaks either. This tax hike for the rich is really not a hike. It is a reinstatement of the taxes they were paying before Ole George W Bush was in office. It didn't keep them from living their lavish lifestyles then and it won't now. As for them creating jobs with their extra money from tax breaks, thats just crap. They just hoard it by stashing it in offshore accts. We were doing just fine when Bill Clinton left office, put a Republican in office and all*****breaks loose....

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