[Delta0311]

Originally Posted by FL335

At this time in our country, there hare more "have nots" than "haves"...who do you think the "have nots" vote for?

For any jackass that will give them more handouts.

[csu87]

Originally Posted by Delta0311

Yup!!! I get my ass into work early every morning.. I don't feel like I should help support some lazy fuck who wants to sleep till noon and feels that work is beneath him.

I sleep at work till noon.

But seriously, how did this great Murica meme thread turn into who can write the longest response about why they don't like a president.

To get it back on track, military spending at it's finest

[Fundguy1]

Originally Posted by Doc Oc

"Obamas first budget didn't happen till 2010 because Harry Reid wouldn't pass it. Duhhhh"

Sorry, wrong. The budget for any new president's first year is always set by the outgoing president. Duhhhh. I'd think you'd know that being a 20 year financial professional. Harry Reid wouldn't pass it because Bush (the guy who set it!) only funded the war until the day he left office.

I've owned and operated my own business for 22 years and have 45 employees currently, but yeah, my comments are laughable while you blaming fucking Carter and time-traveling Obama for everything that happened in 07/08 is right on point! I'd still like to know what Carter did in his brief stint 40 years ago that caused the 2nd great depression in 2007 and if it was that bad why didn't the almighty (by that I mean Reagan of course) fix it? Oh that's right, because Reagan and GHB started the whole deregulate wall street movement.

And please, continue to talk down to me like your job at H&R Block gives you qualifications that owning my own business for two decades doesn't.


"The FY 2009 budget was unusual because it was not signed by the President that created it. President George W. Bush submitted it to Congress in February 2008, right on schedule, but Congress stated it was dead on arrival. Why?

A. It was the first budget to spend more than $3 trillion.

B. It underfunded the War on Terror

C. Its revenue projections completely ignored the warning signs of recession.

Bush's total spending was $3.5 trillion.

Of this, a record $505 billion was for the military's regular operations. However, it only included $70 billion in Overseas Contingency Funds for the Wars in Iraq and Afghanistan -- just enough to fund until January 20th, when Bush left office. This was less than half of the Contingency funds budgeted for the year before, and the year after."

And that is why congress wouldn't pass it. But the greater point is, of course, that it was Bush's budget. Obama's first budget was fy 2010 and at the time it was enacted we were almost 13t in the hole. We had two wars waging, an economic stimulus package, a crushed economy on top of collapsing financing, housing and auto markets. Did the costs of the wars cease to exist when Obama took the oath? Hell no! Did the things we had to do to try and dig out of the hole cost us? Yes. So of course everything that happened under Bush affected the debt accrued under Obama. How in the hell could it not??? Could it have been done better? Possibly, I'm no BO fan (haven't voted since 04) and am not even a democrat, but the republicans have been playing obstructive politics since 2008 at the expense of the country just so they could point out what a failure Obama was. That pisses me off. The man never had a chance. The 113th congress passed less legislation than any other in history. Blocking Obama has been the soup du jour for the GOP since the day he took office.

In just one term, President Obama has missed the budget deadline more than any other President.

In the 90 years covering FY1923 through FY 2013, President Obama is the only President to miss the deadline two years in a row. He is the only President who has missed the deadline in three of the four years of a term. And, he holds the record for the longest delay (at 98 days).

All Presidents from Harding through Reagan’s first term met the statutory budget submission deadline in every year. In five of these years, a change in the law was requested and passed to extend the deadline, and the President always met it.

Since the budget process moved the date of submission to the first Monday in February, the incoming President’s first budget submission has been delayed for practical reasons (the President’s inauguration is less than three weeks before the budget submission’s deadline). Yet President Obama’s first budget in his first year set a new record with a 98-day delay for his FY2010 budget.

Since the statutory deadline was extended to the first Monday in February, with the exception of the first budget for a new President, this deadline has only been missed three times: Clinton FY1998; Obama FY2012; and Obama FY 2013.

Carter passed the original law then Clinton expanded it that allowed banks to bundle subpar mortgages with investment grade mortgages. This is what brought the housing band banking industries down.

And I'm a 20 year financial professional and a regional Vice President for one of the largest financial institutions in the world.

The debt is obamas. We are at 19trillion in debt. The war was 1 trillion. In obamas first term alone he spent more and created more debt than all other presidents combined in the history of the country. Why? Because he decided to fuse the financial crisis as an excuse to fund every bs project every democrat had. He got 1 trillion special budget approved by republicans to stop unemployment with what he said was shovel ready jobs. Every $50 million he spent created a single $25,000 a year job. If he instead had told you and other business owners for every $25,000 a year employee you hire you'll get a $25,000 tax break this year instead, he would have created 40 million new jobs with that same money, not 200,000. But his excuse was I guess they weren't so shovel ready. I call a trillion dollars a pretty good chance and a gift from republicans.

We were going to dig ourselves out of the hole in short order the way we have dug out of every other hole since the Great Depression. But Obama followed FDRs lead to try to spend our way out. This is what made the Great Depression last so long in the 30s and what made it last so long now. And he regulated it so tightly that it stopped the flow of capital which also killed the recovery. He didn't need to spend a sent. If he had done nothing we would be 100 times better off. The only thing that kept the country alive was the fed printing money and interest rates low. And they are independent of the federal government run by and employed by banks, not the government.

Now with obamacare, you're going to have to spend money on all you're employees to provide healthcare or make every employee you hire over the 50th a part time employee. Good luck expanding your business. This is why the majority of jobs created are waiters, fast food jobs,etc. and not middle class jobs and why the average income per family has dropped by 10% during his presidency. The first time ever its dropped under a president in the history of the country.

[Fundguy1]

Originally Posted by Delta0311

For any jackass that will give them more handouts.

Exactly. Why vote for a job when you can get $50k a year from the government to sit on your porch, talk on your government phone, and save up for a Chevy volt.

[John 070]

Originally Posted by Fundguy1

Exactly. Why vote for a job when you can get $50k a year from the government to sit on your porch, talk on your government phone, and save up for a Chevy volt.

I get that some would take $50k for doing nothing, but I doubt anybody here would. It's not enough to even buy a Corolla and live. Most people here are dreaming up ways to make a million or more (and I would say over 50% are dreaming up ways that are legal)

[Fundguy1]

Originally Posted by John 070

I get that some would take $50k for doing nothing, but I doubt anybody here would. It's not enough to even buy a Corolla and live. Most people here are dreaming up ways to make a million or more (and I would say over 50% are dreaming up ways that are legal)

I hope so. Sad truth is the overage household income was $55,000 when he started. It's now $51,000. So for a majority of Americans the government handout is better than working. Way to buy votes dems!

[csu87]

Originally Posted by John 070

I get that some would take $50k for doing nothing, but I doubt anybody here would. It's not enough to even buy a Corolla and live. Most people here are dreaming up ways to make a million or more (and I would say over 50% are dreaming up ways that are legal)

you could buy an old 328, so I bet a lot of people here would.

[fecurtis]

Originally Posted by Fundguy1

I hope so. Sad truth is the overage household income was $55,000 when he started. It's now $51,000. So for a majority of Americans the government handout is better than working. Way to buy votes dems!

Where did this $50k number in welfare come from?

You can easily live off of $50k/year, well if you're single and without debt anyway. You'd have to live in a rural area to raise a family off that.

You can't just sit around, do nothing and collect checks for $50k.

[fecurtis]

Originally Posted by Fundguy1

It was BS shovel ready jobs, welfare increases, tax increases, etc that created the debt.

As far as I know, welfare programs didn't increase, perhaps those claiming unemployment and what not did but that makes sense, early on in his term, we were still in a pretty shitty economy. One would expect those who lost their jobs would claim unemployment...it's what it's there for and they paid their payroll taxes through the years which fund the program.

My main question though is, how the hell does increasing taxes "create" debt?

That's like saying I'm in debt because I took in more money...

All else equal, increase in government revenue would put you in a position to better pay off the debt. I think debt issues are overblown anyway, you see the rate of return you get for T-bills? They pretty much finance debt damn near interest free.

It's scary you're a "finance professional" (whatever that means, it's a broad term) when you don't seem to grasp even the most basic macro economic concepts.

[csu87]

Originally Posted by fecurtis

Where did this $50k number in welfare come from?

You can easily live off of $50k/year, well if you're single and without debt anyway. You'd have to live in a rural area to raise a family off that.

You can't just sit around, do nothing and collect checks for $50k.

Depending on the state, I have seen figures of upper $30k/yr in benefits. You arent getting that much in cash, but in food stamps, housing assistance, healthcare assistance, welfare checks.... In a lot of the higher welfare payout states, the people on welfare make more than the minimum wage workers after you factor in all the benefits.

As for unemployment, again it varies by state, but in Massachusetts, which has the highest $/wk payout, you can get up to $698/wk in unemployment which equates to $36k. In Colorado, where I live, you can get up to $27k/yr in unemployment, which is more than most new school teachers make in the state.

While you would have been making significantly more than that before you were laid off, still a decent chunk of change for not doing anything.

[Fundguy1]

Exactly. It all adds up to over 50k in benefit you can claim. The amounts didn't go up but the qualifications to get them went drastically down. For example Clinton signed into law that you needed to work to collect welfare. Obama repealed that.

[M3SSY]

We have the best military.

and people griping about the US.. where else would you want to live?

[LHR]

Originally Posted by Fundguy1

It is if that's what your enemy seeks. A good example is the Soviet Union. Our current enemy seeks to kill us. Period. Because his god told him so. You can't negotiate with that. It needs to be exterminated in the harshest way. Kill them or they kill you. Period. Peace is a joke for them and an insult to intelligence to even contemplate.

?????????????????????????

Who is this "our enemy" you speak of? and what does it mean to "seek to kill us" if you are not capable of doing so? Don't feed the fear. There is NO military anywhere in the world that can defeat the United States. Are you serious? If so don't you think it would've happened a long time ago? Better to worry about some nut walking into a movie theatre and blasting up the place.

[LHR]

Originally Posted by Fundguy1

???? Isis controls a land mass the size of England, beheads gays, Christians, westerners, men, women, children, and is expanding rapidly. Terrorism is happening monthly now in the U.S. We had zero incidents and had finished the job in Iraq when Bush left office. Hellllo!

Hellooo

Fuck ISIS! Do you know who/what ISIS really is? Don't feed the fear. Scum of the earth low life coward types i.e. U.S. terrorism will be defeated also. It's all fear mongering. The average U.S. citizen goes about his or her daily life unaffected.

[FL335]

Here you :
http://downtrend.com/robertgehl/welf...n-eight-states

My original home state of MA is an absolute embarrassment...

[kscarrol]

Originally Posted by Fundguy1

Exactly. Why vote for a job when you can get $50k a year from the government to sit on your porch, talk on your government phone, and save up for a Chevy volt.

“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years.”
― Alexis de Tocqueville

He also said... "The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money."

[MrPrena]

This thread will most likely moved to politics forum.

[FogCityM3]

The debt carried by the US, $18 trillion is a little higher than GDP. Compared to other countries that are in trouble, once you start getting to 200% Debt/GDP like Europe or Japan and have no to negative population growth, that is a problem as the social costs become too high relative to income. Now $5 trillion of that debt is owed to other governmental agencies, so it's not truly debt. It takes one canceling accounting entry to make that go away (which would have inflation consequences, but still it's not really debt). Another $3+ trillion was the Fed purchasing treasuries during the financial crisis, effectively printing money out of thin air to pay for bailouts and spending programs. BTW, spending programs work (especially on real infrastructure) and this latest ones in no way approach the New Deal era. Keynesian economics actually works this has been proven over and over again. You reduce taxes and spend to help smooth out recessions. Look at countries pursuing an "austerity" strategy. That isn't working at all.

Bottom line is the US debt levels are in no way dangerous when we owe 30% to ourselves, we have the ability to print our own money, have the world's reserve currency, the most diversified economy with actual population growth and endless immigration lines (not only from South America), and every time some geo-political or financial crisis happens, everyone flocks to US treasuries as a safe haven, not to mention everyone looks to the US as the guarantor of free shipping lanes/commerce as well as the security of dozens of nations (only the US economy can support the "free riding" on our military prowess..how do you capture that quantitatively?). These are signs of tremendous strength, not weakness and it probably isn't going to change anytime soon, no matter which party/president is in power.

Originally Posted by Fundguy1

In just one term, President Obama has missed the budget deadline more than any other President.

In the 90 years covering FY1923 through FY 2013, President Obama is the only President to miss the deadline two years in a row. He is the only President who has missed the deadline in three of the four years of a term. And, he holds the record for the longest delay (at 98 days).

All Presidents from Harding through Reagan’s first term met the statutory budget submission deadline in every year. In five of these years, a change in the law was requested and passed to extend the deadline, and the President always met it.

Since the budget process moved the date of submission to the first Monday in February, the incoming President’s first budget submission has been delayed for practical reasons (the President’s inauguration is less than three weeks before the budget submission’s deadline). Yet President Obama’s first budget in his first year set a new record with a 98-day delay for his FY2010 budget.

Since the statutory deadline was extended to the first Monday in February, with the exception of the first budget for a new President, this deadline has only been missed three times: Clinton FY1998; Obama FY2012; and Obama FY 2013.

Carter passed the original law then Clinton expanded it that allowed banks to bundle subpar mortgages with investment grade mortgages. This is what brought the housing band banking industries down.

And I'm a 20 year financial professional and a regional Vice President for one of the largest financial institutions in the world.

The debt is obamas. We are at 19trillion in debt. The war was 1 trillion. In obamas first term alone he spent more and created more debt than all other presidents combined in the history of the country. Why? Because he decided to fuse the financial crisis as an excuse to fund every bs project every democrat had. He got 1 trillion special budget approved by republicans to stop unemployment with what he said was shovel ready jobs. Every $50 million he spent created a single $25,000 a year job. If he instead had told you and other business owners for every $25,000 a year employee you hire you'll get a $25,000 tax break this year instead, he would have created 40 million new jobs with that same money, not 200,000. But his excuse was I guess they weren't so shovel ready. I call a trillion dollars a pretty good chance and a gift from republicans.

We were going to dig ourselves out of the hole in short order the way we have dug out of every other hole since the Great Depression. But Obama followed FDRs lead to try to spend our way out. This is what made the Great Depression last so long in the 30s and what made it last so long now. And he regulated it so tightly that it stopped the flow of capital which also killed the recovery. He didn't need to spend a sent. If he had done nothing we would be 100 times better off. The only thing that kept the country alive was the fed printing money and interest rates low. And they are independent of the federal government run by and employed by banks, not the government.

Now with obamacare, you're going to have to spend money on all you're employees to provide healthcare or make every employee you hire over the 50th a part time employee. Good luck expanding your business. This is why the majority of jobs created are waiters, fast food jobs,etc. and not middle class jobs and why the average income per family has dropped by 10% during his presidency. The first time ever its dropped under a president in the history of the country.

[Fundguy1]

Originally Posted by MindControl

?????????????????????????

Who is this "our enemy" you speak of? and what does it mean to "seek to kill us" if you are not capable of doing so? Don't feed the fear. There is NO military anywhere in the world that can defeat the United States. Are you serious? If so don't you think it would've happened a long time ago? Better to worry about some nut walking into a movie theatre and blasting up the place.

Muslim fundamentalists. If you didn't realize iraq, iran, yemen, ethiopia, lybia, Syria and all full of people who want us dead. If we don't kill them there, they will kill us here. Or did you forget the embassy attacks, 9/11, use cole, Spanish railways, British buses, Boston marathon, etc etc etc. It's not fear. It's not that we csnt, buy we were almost done and Obama gave them a do over with the Arab spring, pulling out of iraq, stopping Iranian sanctions, apologize tour, etc etc etc.

[Fundguy1]

Are we in Greek danger with this debt? No. Are we way above where we have been historically? Yes. Right now every person in the US needs to cough up $55,000 to pay it off. That's $220,000 for a family of 4. That's what we owe in taxes.

[FL335]

Originally Posted by Z K

I moved to the USA with my family.

I'm not saying the US is bad - its better than some places. But LIVE in some other 1st world countries and you'll see why America is not all so great.

Also, America is often viewed negatively in other countries. I've impersonated being from other countries on some overseas trips so I can avoid the stigma.

As I re-read through this thread....SMH.

From the guy who moved to the USA from somewhere else and now lives in SF...LOL. So you were "forced" to move here with your parents, edumacated here in the USA but say the USA is "not all so great"....wahhhh. Get your sorry ass out of our country. Are you a citizen? do you pay taxes? If you do then fine...you can gripe, if not. Get fucked!

[FL335]

Originally Posted by Fundguy1

Are we in Greek danger with this debt? No. Are we way above where we have been historically? Yes. Right now every person in the US needs to cough up $55,000 to pay it off. That's $220,000 for a family of 4. That's what we owe in taxes.

How about every person that actually PAYS taxes? Run that #...scary....