Great news: The US fiscal gap just jumped $11 trillion . . . to $222 trillion

Hotair ^ | 08/09/2012 | Ed Morrissey

[SeekAndFind]

Republicans and Democrats spent last summer battling how best to save $2.1 trillion over the next decade. They are spending this summer battling how best to not save $2.1 trillion over the next decade.

In the course of that year, the U.S. government

[listenhillary]

Over 100 Million Now Receiving Federal Welfare
http://www.freerepublic.com/focus/f-news/2916373/posts

Welfare voter push has (Ma) GOP crying foul
The state has mailed out voter registration letters to nearly 500,000 welfare recipients,in a push sparked by a group led by former ACORN bigwigs that critics say is a naked bid to boost Democrats at the polls in November.

http://www.freerepublic.com/focus/f-news/2915990/posts

[Stentor]

The pace of the theft will continue to increase. Make sure you possess something real that will survive the dollar and have the tools to stand in front of it and defend it. Everything else is a phantasm and will “vaporize”.

[listenhillary]

“My investing model is ABCD: Anything Bernanke Cannot Destroy”
David Stockman, director of the Office of Management and Budget under President Ronald Reagan May 11, 2012

[DuncanWaring]

How is the “$222 Trillion” figure computed?

Given the current structure of unending entitlements and deficits, shouldn’t it be effectively “infinite”?

[GraceG]

I've been watching the economy since Obama has taken over.

With all the costs of the new "Obama care" added in it is no wonder that we went from 11 Trillion to 222 Trillion into the hole.

It is as if the world has been turned upsode down.

This leads me to the only conclusion that the only thing worth investing in will be Alcohol and Firearms .

[fhayek]

We are approaching a quarter of a quadrillion dollars in overall fiscal shortfall. That ia just one step down from a gazillion.

[rightwingcrazy]

“Given the current structure of unending entitlements and deficits, shouldn’t it be effectively ‘infinite’?”

This can be dealt with by inflation, making the value of the dollar effectively “infinitesimal”.

[TigerClaws]

That didn’t work out so well for Germany in the 1920s.

[Nachum]

The list, Ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/

[hollywood]

Nor Hungary. From Wikipedia: "Hungary went through the worst inflation ever recorded between the end of 1945 and July 1946. In 1944, the highest denomination was 1,000 pengő. By the end of 1945, it was 10,000,000 pengő. The highest denomination in mid-1946 was 100,000,000,000,000,000,000 pengő. A special currency the adópengő – or tax pengő – was created for tax and postal payments.[19] The value of the adópengő was adjusted each day, by radio announcement. On 1 January 1946 one adópengő equaled one pengő. By late July, one adópengő equaled 2,000,000,000,000,000,000,000 or 2×1021 pengő. When the pengő was replaced in August 1946 by the forint, the total value of all Hungarian banknotes in circulation amounted to 1/1,000 of one US dollar.[20] It is the most severe known incident of inflation recorded, peaking at 1.3 × 1016 percent per month (prices double every 15 hours).[21] The overall impact of hyperinflation: On 18 August 1946, 400,000,000,000,000,000,000,000,000,000 or 4×1029 (four hundred quadrilliard on the long scale used in Hungary; four hundred octillion on short scale) pengő became 1 forint. Some historians believe[22][unreliable source?] that this hyperinflation was purposely started by trained Russian Marxists in order to destroy the Hungarian middle and upper classes." Hmmm, that last statement makes my tinfoil hat vibrate.

[EternalVigilance]

It’s time to revoke not just ObamaCare, but the New Deal, the Great Society, and every other unconstitutional program and agency, before we are swallowed up.

Most of the money listed in this article is not actual contractual debt. It consists of illegitimate, unconstitutional promises made by several generations of craven politicians, who stole the money and then spent every penny.

I'm going to be dealing with these crucial questions in great detail in the coming weeks and months.

Tom Hoefling for President

[listenhillary]

Or a small distillery.

[TribalPrincess2U]

Who is Tom Hoefling. Never heard of him and I doubt that very many people have.

No Third party at this time! Never happen. IMO

[JudgemAll]

Solient Green, folks.

OUr corrupt politicians and bureaucrates are raiding our pocket books as we speak as the IRS gains greater run on banks and pocket book prying powers.

It’s like they are building their own personal nuke shelters, while preventing us from doing so for our own sakes, before the financial nuclear attack they have fomented or let happen.

This is is going to be a real bad one.

AFter the elections, count on Iran to spike the oil in a nuke war, with Obama, elected or not, taking advantage of the crisis to assert his authority or the civil strife in the US.

“we want you to be successful, us love you long time” ahahahaha (sarc off)

[Leep]

This can be dealt with by inflation, making the value of the dollar effectively “infinitesimal”.

---

Yep, got my wheelbarrow oiled up and ready to go. You know for when I have to pay for a loaf of bread.

[fhayek]

I raised a quadrillion and you upped the ante to an octillion. You know, soon we are going to be talking some real money.

[Bikkuri]

EternalVigilance IS Tom Hoefling.

:^)

[TigerClaws]

Sadly a vote for anyone but Romney is a vote for Obama.

[concerned about politics]

AFter the elections, count on Iran to spike the oil in a nuke war, with Obama, elected or not, taking advantage of the crisis to assert his authority or the civil strife in the US.

I believe he's already damaged the U.S. so bad, the chaos will go on for generations. I believe this was his plan all along - to finish the job his Muslim brothers failed to do on 9/11.
In 2012, he'll be voted out. He and his family will immediately head for the middle east, where Oboma will rule over the new Muslim caliphate that he used millions of American tax dollars to create. He didn't do that "just to be nice". He had a motive.

He is the one they've "been waiting for". Oboma has been groomed for this ever since he was a child.