Does Anyone feel like Bailing

[TheMercenary]

Originally Posted by Redux

Project report .... $5 million for 2.9 million lbs for domestic food assistance programs....less than $2/lb....seems like a reasonable price.

Jobs created - 285.


Carry on with your crusade.

recovery.gov??? oh wait, those are the same people who lied about how many jobs they made a few months ago. Talk about partisan bullshit...

*shrug*

Your minds are completely closed on this one.

Classic has his sources and Merc had declared the stimulus program a failure despite all the evidence to the contrary that it has created and saved jobs and helped end (or at least, slow down) the recession.

It's all yours, guys!

[classicman]

My sources???? WTF?? My source is stimulus watch.com Try it sometime. Then again, you better not, you probably won't like what you see.

[TheMercenary]

Originally Posted by Redux

Classic has his sources and Merc had declared the stimulus program a failure despite all the evidence to the contrary that it has created and saved jobs and helped end (or at least, slow down) the recession.

Which jobs? The "Millions of Shovel Ready Jobs" they lied about in Feb 09 to get the Failed Stimulus Package passed or the ones the lied about in the fall of 09?

Originally Posted by classicman

My sources???? WTF?? My source is stimulus watch.com Try it sometime. Then again, you better not, you probably won't like what you see.

My point was that if you had taken two more minutes, you could have found the details of the turkey breasts and cop funding that outraged you.

But all the facts would spoil that outrage.

[TheMercenary]

Why spoil a good outrage. I mean, really....

The Nazi's need to be eliminated from the Congress.

[classicman]

Originally Posted by Redux

My point was that if you had taken two more minutes, you could have found the details of the turkey breasts and cop funding that outraged you.

Originally Posted by Redux

Your minds are completely closed on this one.

Oh I'm sorry - How could I have possibly misinterpreted you.

I'll still take the word of the independent source over the biased one.

Looking over stimuluswatch.com, there seems to be many many such programs. Yes there are some related to infrastructure, but there are so many that seem to have nothing to do with building anything. I wonder how many of these organizations/companies/corporations that got these grants are "friends" of political people. I would guess a whole bunch of them.

[classicman]

And for what its worth, I would have preferred to spend 5.3 MILLION on virtually anything other than fuckin ham. Ham sucks. If not roast beef at least turkey - sheesh!

[TheMercenary]

5.3 MILLION would have gone a long way to pay down some bad debts.

[TheMercenary]

Concerning...

For the world’s biggest economy, the US, the day of reckoning still seems reassuringly remote. The worse things get in the eurozone, the more the US dollar rallies as nervous investors park their cash in the “safe haven” of American government debt. This effect may persist for some months, just as the dollar and Treasuries rallied in the depths of the banking panic in late 2008.

Yet even a casual look at the fiscal position of the federal government (not to mention the states) makes a nonsense of the phrase “safe haven”. US government debt is a safe haven the way Pearl Harbor was a safe haven in 1941.

Even according to the White House’s new budget projections, the gross federal debt in public hands will exceed 100 per cent of GDP in just two years’ time. This year, like last year, the federal deficit will be around 10 per cent of GDP. The long-run projections of the Congressional Budget Office suggest that the US will never again run a balanced budget. That’s right, never.

http://www.ft.com/cms/s/0/f90bca10-1...nclick_check=1

Even according to the White House’s new budget projections, the gross federal debt in public hands will exceed 100 per cent of GDP in just two years’ time. This year, like last year, the federal deficit will be around 10 per cent of GDP. The long-run projections of the Congressional Budget Office suggest that the US will never again run a balanced budget. That’s right, never.

Huh?

We have had a balanced budget only once in the last 50 years...in 1999 - 2000.

THE CBO projections:

Under current law, the federal fiscal outlook beyond this year is daunting: Projected deficits average about $600 billion per year over the 2011–2020 period despite an anticipated economic recovery, albeit a slow and tentative one. In the baseline projections, deficits drop markedly in the next few years but remain high—at 6.5 percent of GDP in 2011 and 4.1 percent in 2012, the first full fiscal year after certain tax provisions originally enacted in 2001, 2003, and 2009 are scheduled to expire.1 Thereafter, deficits in CBO’s baseline are projected to range between 2.6 percent and 3.2 percent of GDP through 2020.

Those accumulating deficits will push total federal debt held by the public to significantly higher levels. In 2009, debt held by the public jumped from $5.8 trillion to $7.5 trillion. CBO projects that by the end of 2010, that figure will rise to $8.8 trillion—at 60 percent of GDP, the highest level since 1952. Under the assumptions of the baseline, federal debt is projected to continue its upward climb, reaching $15 trillion (67 percent of GDP) by the end of 2020. With such a large increase in debt, plus an expected rise in interest rates as the economic recovery strengthens, interest payments on the debt are likely to skyrocket. CBO projects that the government’s annual net interest spending will more than triple between 2010 and 2020 in nominal terms (from $207 billion a year to $723 billion) and will more than double as a share of GDP (from 1.4 percent to 3.2 percent)

Total Deficit or Surplus, 1970 to 2020
(Percentage of gross domestic product)



http://www.cbo.gov/ftpdocs/108xx/doc...Chapter1.shtml

So whats your solution to fix the economy that completely broke down during the "lost decade" (the worst in 70 years) and generate economic growth?

If you "stand for something"....how do you fix it or recover from that lost decade?

Do you stand for anything positive?

I mean something other than a "good outrage and removing Nazis from Congress"

Just wondering?

[TheMercenary]

I know this much. Continuing to print money and throw it around like the whores in Congress on a spending spree with very little to show for it is not a solution. Lying to the American Public to spend money on programs that do not actually create jobs is not a solution.

[piercehawkeye45]

It is impossible to have a balanced budget without almost doubling taxes or completely cutting Medicare, Medicaid, Social Security payments, or military spending. By 2030, mandatory spending (Social Security, Medicare, Medicaid, and natural disaster spending) will be larger than our incoming revenue.

Below is a the breakdown of the 2010 budget:



This also means that Obama's "budget freeze" will have very little impact if any. It will be a "its not as bad as it could be" temporary "solution". This also means that Obama has very little control over a balanced budget without going into politically suicidal territories.

[Undertoad]

how do you fix it or recover from that lost decade?

You keep posting that graph. I don't think it means what you think it means.

[TheMercenary]

Well isn't that part of the problem HP? It may take this Congress from all parties to commit political suicide, which none of them are willing to do. Why? Power. They don't want to let it go.