The Cellar - Direction of the Country

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- - Direction of the Country (http://cellar.org/showthread.php?t=20382)

Direction of the Country

Take a look at this poll done recently.

In the span of a month, from 10/17/08 to 11/17/08 the change is incredible. The percentage of people who thought the country was headed in the wrong direction dropped from over 87% to less than 66%. Currently it is almost even at 47%-45%.

The direction of the country:

Quote:

Leap in U.S. debt hits taxpayers with 12% more red ink

Taxpayers are on the hook for an extra $55,000 a household to cover rising federal commitments made just in the past year for retirement benefits, the national debt and other government promises, a USA TODAY analysis shows.
The 12% rise in red ink in 2008 stems from an explosion of federal borrowing during the recession, plus an aging population driving up the costs of Medicare and Social Security.

That's the biggest leap in the long-term burden on taxpayers since a Medicare prescription drug benefit was added in 2003.

The latest increase raises federal obligations to a record $546,668 per household in 2008, according to the USA TODAY analysis. That's quadruple what the average U.S. household owes for all mortgages, car loans, credit cards and other debt combined.

"We have a huge implicit mortgage on every household in America — except, unlike a real mortgage, it's not backed up by a house," says David Walker, former U.S. comptroller general, the government's top auditor.

http://www.usatoday.com/news/washing...-28-debt_N.htm

The election as a whole I assume.

Since I'll own some GM stock here in a couple of days, ya think I can just quit paying on my car and call it even?

Quote:

Originally Posted by sycamore (Post 569517)

Since I'll own some GM stock here in a couple of days, ya think I can just quit paying on my car and call it even?

I'd be more worried about getting parts for it if it breaks down in the near future.

I generally support Obama but all this bailout debt threatens the Federal programs that actually provide some benefit. I still think the country is much better lead than it was, but that is with the understanding that the two major parties are quite simply criminal organizations.

The parts issue is interesting. I assume GM has to license the production of some parts?

Quote:

Originally Posted by TheMercenary (Post 569537)

I'd be more worried about getting parts for it if it breaks down in the near future.

Most replaceable parts are also manufactured or remanufactured by third parties.

GM executives were selling their holdings when the stock was about $1.30. Stock is now $0.75 per share. What fool was buying GM stock? Rumors now suggest that GM stockholders will not be wiped out by a bankruptcy.

GM will exist. But the financials are finally reflecting GMs true value and profits from its products in the past 20 years. Money games are how finances are subverted to make true value. But economics eventually takes revenge. Massive reduction and selling of its more productive assets (Opel, GM locomotives, etc) is essential. None of this will affect the availability of parts.

I'm not worried about parts...I've heard the same thing several times that tw mentioned.

I'm pretty much of Griff's mindset. As a whole, I feel good about where we're headed, though the debt does worry me. At the same time, I think something dramatic had to be done...it was pretty much expected.