Skip to comments.In pictures: Why debt discussions won’t die down anytime soon (Look at what we're up against)
Posted on 06/01/2011 11:46:06 AM PDT by SeekAndFind
Debt-ceiling and related budget negotiations will continue to make headlines in the coming weeks, no matter how deeply lawmakers and the public begin to feel debt fatigue.
Last night, the House voted down a clean debt ceiling increase by a heavily lopsided vote of 318 to 97. This morning, House Speaker John Boehner released a statement — signed by 150 economists — that reiterates Republican demands for massive spending cuts to offset any increase in the debt limit. Later today, House Republicans will meet with President Obama for what The Washington Post describes as a “listening session” about debt grievances.
Debt, debt, debt. Say it enough and it starts to sound far less threatening. The Treasury’s “extraordinary maneuvers” delay the day of reckoning and that day begins to seem like Harold Camping’s Rapture — an ever-disproved, ever-delayed prediction. But the debt is all too real, as these excellent charts from The Heritage Foundation demonstrate. Especially now, as Congress turns so much of its attention to these matters, they’re worth perusing:
For the full budget chart book, click here.
I haven’t reviewed the charts carefully yet, but have we reached the point where more people are actually receiving checks from the government than are paying into the system in income taxes?
That’s the tipping point the Founders warned against - when people realized they could vote themselves the funds from the Treasury. I fear we’re at a very dangerous place.
One picture of mac, the liar, daddy and the dumb-o-crats would have said it all.
Here is another source of the problem.
Watch this... it’s only am about 2 minutes long. It’s also scary.
THE DECLINE: The Geography of a Recession
See link in post 4. You will find it interesting.
They are now taking from future haves (wealthy people not born yet) to give to their political supporters (the beast).
“Redistribution of wealth” is on track.
Until or unless Obama and the dems are removed from power, there is no chance of improvement. IMHO
Our Founders would be pissed.
Not yet, I don't think.
But look at that first chart.
Federal spending, now about $30,000 per household, per year, is approaching the entire income of the average American household !
A lot of people were yammering up to a few weeks ago of silver prices going parabolic........I'd say our national (funded) debt has gone parabolic as well.....and as we all know, prices, and markets, and debt cannot continue going parabolic indefinitely.