Posted by We Regret To Inform U on Fri, Jan 11, 2013, at 7:31 PM:
I never thought if I went further into debt that I could never pay back the better off I would be. Maybe I have been doing it wrong all these years.
"Most importantly because deficit reduction is not a worthy goal onto itself," said Carney, talking about government spending. "This is all about making our economy stronger, making it more productive and allowing it to create even more jobs. That is the most important thing when it comes to economic policy as far as the President is concerned."
Replies (38)
Increasing welfare and unemployment checks creates more demand, thus growing the economy according to Nancy. Based on that, how can Obama figure more debt to support growth is a bad thing? :)
-- Posted by Old John on Sat, Jan 12, 2013, at 12:40 AM
-- Posted by We Regret To Inform U on Sat, Jan 12, 2013, at 10:20 AM
Regret you will be surprised of the people that are not even interested in reducing the debt because they do not want something taken away from them. The National Debt is a threat to our National Security and many american's don't even realize that and when you bring it up to some people here is the reply you get "Oh I don't discuss politics I stay out of it" that is the mentality many of them have. This is not politics this is serious business if we don't get this debt brought under control and start bringing the deficit down we face one of the largest financial collaspes in America's history.
-- Posted by swampeastmissouri on Sat, Jan 12, 2013, at 10:25 AM
Offered on that site is a good explaination of the federal reserve and how all money is debt.
The big banks win either way it goes in the long run.
-- Posted by Old John on Sat, Jan 12, 2013, at 1:07 PM
Just in my family we are now paying $430 more per month in taxes and I wont be be paying my part until the end of the quarter so it will still be added. This is money that would have been spent on thing such as a new car, a pool or even a house. Wonder who that affects? Oh never mind. that money is helping drive the economy. Notice that ice cream is $8 a gallon now?
I sure am glad I got to live during the good times.
-- Posted by We Regret To Inform U on Sat, Jan 12, 2013, at 3:46 PM
Glass 1/2 full, you saved $430 (FICA) a month the last two years. With that number, you are claiming a household annual income in excess of $250,000, you can afford to pay your share.
-- Posted by ratiocination on Sat, Jan 12, 2013, at 4:22 PM
"This is money that would have been spent on thing such as a new car, a pool or even a house."
You are basically claiming the 2% FICA tax break, part of Obama's stimulus package did exactly as it was intended to do. Obama's stimulus saved your family over $10,000 in a two your period, so you could redirect the pocket money to "a new car, a pool or even a house."
One would think you would be a little more grateful for the $10,000 tax break you enjoyed. Wait, that would mean you'd have to give Obama credit for a job well done.
-- Posted by notrump on Sat, Jan 12, 2013, at 4:36 PM
you can afford to pay your share.
-- Posted by dark knight 99 on Sat, Jan 12, 2013, at 4:22 PM
What about yours? Oh that is right. I'm lucky. BTW your tax estimations are wrong. There ain't no $250K with Obama running the show.
Bond
I think you have no idea what you are talking about. BTW Obama didn't do it. I give him no credit whatsoever.
-- Posted by We Regret To Inform U on Sat, Jan 12, 2013, at 5:28 PM
Do the math doo doo bird: 430 divided by 2% times 12 months equals $258,000 household income based on your claim of "$430 more per month in taxes"
If my numbers are wrong, you either lied about your tax "increase" or you need to fire your accountant. Only significant tax change on earned income 'this' year is the return of the 1990 FICA tax rate, removing the 2% tax break employees have enjoyed the last two years.
Do you do much shopping? Ice cream sold in "gallons" are a generic brand, which are not currently being sold at $8.00 per gallon in the Heartland. If you are paying $4.00 for a 1/2 gallon, then you are buying a premium brand, which the market determines the priced based on demand. Some would argue, ice cream is not a necessity.
-- Posted by ratiocination on Sat, Jan 12, 2013, at 6:01 PM
Fire my accountant. No way. I have him to keep me from supporting you anymore than I have to.
Wow. Doo Doo bird? You must be smart. BTW I don't eat generic ice cream. Go buy some with your EBT card you so proudly waive. I buy what I want. That is the reason I worked hard instead of riding the system.
-- Posted by We Regret To Inform U on Sat, Jan 12, 2013, at 7:49 PM
-- Posted by We Regret To Inform U on Sat, Jan 12, 2013, at 9:48 PM
What would happen if interest rates increase?
-- Posted by fxpwt on Sat, Jan 12, 2013, at 8:01 PM
They dont care or understand the simplifications.
-- Posted by We Regret To Inform U on Sat, Jan 12, 2013, at 9:57 PM
That would be implications. Gotta turn off auto correct.
-- Posted by We Regret To Inform U on Sat, Jan 12, 2013, at 10:42 PM
I thought the Keynesian idea was to use interest rates to check inflation. Seems the revised plan is to print more money and keep rates low. Problem I see is that unlike Carter's inflation, Obama's inflation includes everything except wages, a house of cards.
So if the price of ice cream goes up, well you don't need ice cream? To each his needs,.. or how does that communist slogan go?
-- Posted by Old John on Sun, Jan 13, 2013, at 12:02 AM
If we see interest go up now we will come to a screeching halt like we did in the 70's. These Obama voter are trying to dance around the fact that inflation is happening especially in the grocery stores. There are some things China cant make cheap.
-- Posted by We Regret To Inform U on Sun, Jan 13, 2013, at 12:20 AM
The tax holiday should have never ever came out of social security trust fund by reducing by 2% from the 6.2% it has been at the 6.2% rate for decades. Once you allow something like this and then it expires and you go back to what everybody was paying for years prior to 2010 there will be hell to pay by some of the people. If a tax cut at the time back in 2010 is what congress and the President wanted to do they should have cut the federal income tax contribution rates like JFK did, and leave the trust fund alone. Both Democrats and Republicans both voted for this in the House and Senate and it was sent to the President back in 2010 and he signed it. Both parties many members said prior to the end of the year that the 2% reduction really had not done much for the economy to justify it's continuance.
-- Posted by swampeastmissouri on Sun, Jan 13, 2013, at 1:01 PM
From one of the pages: "Little known fact: All money is debt. All money is loaned into existence. Banks create (90%+ of all) money by making a "Reserve Requirement" deposit with the Federal Reserve. If a bank deposits $1 million with Federal Reserve, with a 10% Reserve Requirement it can loan out $10 million by simply typing it into the computer into an account. This is called Fractional Reserve Banking. Federal Reserve also works as a lender of last resort when the banks that loaned out 10x more than they have deposited, get a 'run on the bank' and can't come up with the money-- when more people are pulling it out than they have available. Federal Reserve protects the system that allows lending out what one does not actually have. Federal Reserve is also a private bank, privately owned and not responsible to the Government, or anyone, except possibly its 300 private share holders.
This might sound confusing, but money-creation is not taught in schools, therefore many completely lack the concept of how the system works. The economy text-books of today are Keynesian theory based-- "print more cash please", written by big corporations, such as McGraw Hill-- which are owned by the banks. Banks benefit from this system, and from you not understanding it. There are many videos and sites covering the concept of money creation."
-- Posted by Old John on Sun, Jan 13, 2013, at 1:16 PM
I'm not too smart... but I do not believe money was debt when we had a dollar's worth of gold to back the paper dollars that were printed. But of course that standard for all practical purposes ended in 1933 with FDR and the inability of US citizens to convert their paper into gold.
-- Posted by Old John on Mon, Jan 14, 2013, at 11:54 AM
"This might sound confusing, but money-creation is not taught in schools, therefore many completely lack the concept of how the system works"
They don't teach them self reliance either. You saw the posts by one of the teachers on here.
-- Posted by We Regret To Inform U on Mon, Jan 14, 2013, at 12:43 PM
OJ
Can we expect another gold confiscation as they had in 1933?
People who owned more than $100 worth of gold were forced by law to sell their gold to the government at a fixed price of $20.67 per ounce. Then once the government the gold FDR revalued the dollar relative to gold so that gold was now worth $35 an ounce. Basically they stole $14 an ounce from the public and artificially boosted the dollar by 35% overnight. I would expect Obama to do the same if he can find something to do it with.
-- Posted by We Regret To Inform U on Mon, Jan 14, 2013, at 1:00 PM
Obama is selling seats to his inauguration. Since he is not campainging where does this money go?
-- Posted by Old John on Mon, Jan 14, 2013, at 11:54 AM
Old John,
It is the selling of the Presidency, something one Democratic President refused to do. All is needed to make it official is an auctioneer.
-- Posted by Have_Wheels_Will_Travel on Mon, Jan 14, 2013, at 7:30 PM
Regret, Obama may have already done his version of executive order 6102 within the affordable care act.
I am not a stock trader and know little about it but I'm thinking if he ordered all privately owned GM stock turned in at a fixed price to government and the reduced the amount of shares significantly, [a sort of reverse split] perhaps then he could auction off those shares to corporate holdings and drive the price up to repay the money government borrowed to from Peter to pay Paul that saved the auto industry.
Wheels, Maybe that money is in trust to refurbish the Lincoln bedroom when the time arises. Free cable and wireless internet might boost revenues and occupancy. :)
-- Posted by Old John on Tue, Jan 15, 2013, at 12:03 AM
Old John,
More like the B. Hussein Obama Family Trust.
-- Posted by Have_Wheels_Will_Travel on Tue, Jan 15, 2013, at 12:06 AM
-- Posted by Old John on Tue, Jan 15, 2013, at 12:03 AM
I don't trust Obama as a savvy investor. So far about all of his picks have been big losers.
-- Posted by We Regret To Inform U on Tue, Jan 15, 2013, at 12:44 AM
Never said he was a savvy investor, more like a savvy decepter.
Rick and I have both brought this up before and I don't remember getting a believable answer. May be I forgot already or missed it. But again, what does happen to all the left over campaign money?
-- Posted by Old John on Tue, Jan 15, 2013, at 1:00 AM
But again, what does happen to all the left over campaign money?
-- Posted by Old John on Tue, Jan 15, 2013, at 1:00 AM
The politicians quietly steal it??
-- Posted by Have_Wheels_Will_Travel on Tue, Jan 15, 2013, at 2:36 AM
Obama 2006:
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure," he said. "It is a sign that the U.S. Government can't pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. ... Leadership means that 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt and a failure of leadership. Americans deserve better. I therefore intend to oppose the effort to increase America's debt limit."
-- Posted by We Regret To Inform U on Tue, Jan 15, 2013, at 11:12 AM
after all this time, i can't you all are still on here ******* about President Obama and what he does. Common sense says he is leading us out of many of your republican mess that we are in. Think about it, he has gotten a yest vote for all that he has done. Do you think he really wouldn't have the vote if he really did not know what he was doing. Great job Mr. President. Keep sticking it to themfor 4 more years....yes!
-- Posted by kcknown on Tue, Jan 15, 2013, at 11:32 AM
"Do you think he really wouldn't have the vote if he really did not know what he was doing."
Think about it: the people you are blaming for the 'mess' also got the vote. The ability to get elected does not equate automatically to having the ability to do the job...
The opinions of 1,000,000 people are worth nothing if those people know nothing about the issue.
-- Posted by Shapley Hunter on Tue, Jan 15, 2013, at 12:02 PM
Rick
They need to get used to about $50+ a week. Of coarse the self taught employee withholding specialists will say different. When all this kicks in Be ready to hear the crying.
-- Posted by We Regret To Inform U on Tue, Jan 15, 2013, at 2:10 PM
"If they lose 10 dollars a week, over a years time, what does that amount to," he wondered. "Then going out to dinner once or twice, or vacation? Everyone's going to have to cut back a little bit."
You obviously haven't been paying attention. Just follow the government's example - borrow the difference. If you lose 10 dollars a week you just have to borrow 10 dollars more per week. You don't want to sacrifice spending just because you don't have the revenue.
In fact, if you follow the government's example, you will actually increase spending. If you have 10 dollars less per week, borrow 20 dollars more per week to make up for it. Your spending obviously needs to increase to make up for the revenue lost by those who depend upon your spending, since they, too, will be losing 10 dollars per week from their paychecques.
Borrow, borrow, borrow! Our debt-driven economy depends upon you!
-- Posted by Shapley Hunter on Tue, Jan 15, 2013, at 4:25 PM
"If you have 10 dollars less per week, borrow 20 dollars more per week to make up for it"
Hey that works. Then you can $10 more and worry about it later.
-- Posted by We Regret To Inform U on Tue, Jan 15, 2013, at 4:43 PM
Sorry. You can get $10 more.
-- Posted by We Regret To Inform U on Tue, Jan 15, 2013, at 6:58 PM
"it is a bottomless pit in America"
"When you find yourself in a hole, quit digging." -- Will Rogers
-- Posted by fxpwt on Tue, Jan 15, 2013, at 7:18 PM
Tax the rich the sneaky way; owners of farm land rented out are now learning that unearned income such as cash rent qualifies for 3.8% tax. It reads as if those making over $200,000 pay the 3.8% before adding the income to their bottem line. Sounds like it could end up being a double tax.
I gleaned this from a farm magazine opinion article with no links or refs.
-- Posted by Old John on Wed, Jan 16, 2013, at 9:45 AM
Old John,
Heil !!
-- Posted by Have_Wheels_Will_Travel on Wed, Jan 16, 2013, at 9:50 AM
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I never thought if I went further into debt that I could never pay back the better off I would be. Maybe I have been doing it wrong all these years.
"Most importantly because deficit reduction is not a worthy goal onto itself," said Carney, talking about government spending. "This is all about making our economy stronger, making it more productive and allowing it to create even more jobs. That is the most important thing when it comes to economic policy as far as the President is concerned."
Replies (38)