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Great news: The US fiscal gap just jumped $11 trillion . . . to $222 trillion
Hotair ^ | 08/09/2012 | Ed Morrissey

Posted on 08/09/2012 8:01:47 AM PDT by SeekAndFind

Edited on 08/09/2012 8:52:46 AM PDT by Admin Moderator. [history]

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. governmentís fiscal gap --- the true measure of the nationís indebtedness " rose by $11 trillion.


(Excerpt) Read more at hotair.com ...


TOPICS: Business/Economy; Culture/Society; Front Page News; News/Current Events
KEYWORDS: debt; deficit; fiscalgap; usdebt

1 posted on 08/09/2012 8:01:56 AM PDT by SeekAndFind
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To: SeekAndFind

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


2 posted on 08/09/2012 8:05:15 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: SeekAndFind

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”.


3 posted on 08/09/2012 8:07:23 AM PDT by Stentor
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To: Stentor

“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


4 posted on 08/09/2012 8:12:52 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: SeekAndFind

How is the “$222 Trillion” figure computed?

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


5 posted on 08/09/2012 8:23:27 AM PDT by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: listenhillary; Bender2
I've been watching Photobucket the economy since Obama has taken over.

With all the costs of the new "Obama care" added Photobucket 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 Photobucket turned upsode down.

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

6 posted on 08/09/2012 8:24:08 AM PDT by GraceG
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To: SeekAndFind

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


7 posted on 08/09/2012 8:57:00 AM PDT by fhayek
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To: DuncanWaring

“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”.


8 posted on 08/09/2012 9:10:07 AM PDT by rightwingcrazy
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To: rightwingcrazy

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


9 posted on 08/09/2012 9:16:51 AM PDT by TigerClaws
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, Ping

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

http://www.nachumlist.com/


10 posted on 08/09/2012 9:26:23 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: TigerClaws
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.
11 posted on 08/09/2012 9:44:13 AM PDT by hollywood (Stay on topic, please.)
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To: SeekAndFind
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

12 posted on 08/09/2012 9:48:19 AM PDT by EternalVigilance (The saving of America starts the day conservatives stop supporting what they say they hate.)
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To: GraceG

Or a small distillery.


13 posted on 08/09/2012 9:53:24 AM PDT by listenhillary (Courts, law enforcement, roads and national defense should be the extent of government)
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To: EternalVigilance

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


14 posted on 08/09/2012 11:07:46 AM PDT by TribalPrincess2U (0bama's Welfare, Food Stamps, Division and Disability 'Legacy')
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To: SeekAndFind

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)


15 posted on 08/09/2012 11:08:45 AM PDT by JudgemAll (Democrats Fed. job-security Whorocracy & hate:hypocrites must be gay like us or be tested/crucified)
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To: rightwingcrazy

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.


16 posted on 08/09/2012 11:12:00 AM PDT by Leep
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To: hollywood

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


17 posted on 08/09/2012 11:50:10 AM PDT by fhayek
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To: TribalPrincess2U; EternalVigilance

EternalVigilance IS Tom Hoefling.

:^)


18 posted on 08/09/2012 1:24:49 PM PDT by Bikkuri (Choose, a communist, socialist, or Patriot)
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To: EternalVigilance

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


19 posted on 08/09/2012 2:10:49 PM PDT by TigerClaws
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To: JudgemAll
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.

20 posted on 08/09/2012 2:27:06 PM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: JudgemAll
In the end, there will be 10 Muslim nations. This will complete Obomas caliphate - with him in charge. Their nukes will fly toward every nation on the globe at the same time.

The 10, standing with pomp and glitter, head for their vaults.
The people, angry and in disarray, loot the shops.
Which of these knew in advance? The eagle? The bear? The crown? The sun?
No, fate was not a consideration for this race.

21 posted on 08/09/2012 2:35:16 PM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: concerned about politics; All


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22 posted on 08/09/2012 3:37:40 PM PDT by musicman (Until I see the REAL Long Form Vault BC, he's just "PRES__ENT" Obama = Without "ID")
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To: SeekAndFind

When you look into theses numbers, and reflect upon our political stitutation there is really no way we can avoid the collapse senerio.

1: Even if democrats could tax 65% of our GDP there is no possible economy we could construct that would not collapse(massively contract) under such burden thus simultaneously producing a smaller output and a larger number of unemployed “welfare” dependency.

2: The Political reality is republicans are probably both incapable of seriously cutting down the massive welfare state even if they were willing. To put the matter bluntly any attempt by republicans to cut down on the welfare state will be met with resistance from both all of those currently being payed off by the same and those the democrats are able to convince.

Simply put there is not a path towards building a majority against robing what is essentially a shrinking minority of producers and the unborn.

Instead those currently invested(by government force) into the welfare system(like Social Secretary, medicaid, and medicare) will have to worry about the day when the taxes required support them & their debt grow so great that they who no longer pay the taxes(retired) will be both in the minority and on the chopping block.

We might from that perspective convince them to take a block sum of money now.


23 posted on 08/09/2012 9:43:18 PM PDT by Monorprise
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To: Stentor

I’d also see about hiding that asset, when the leftist get desperate in an inflationary economy they WILL make like FDR and try to steal everyone’s real assets, allegedly in an effort to force them go back to their devalued currency.

When the trains stop running we will be looting at an even more extremely lawless Government senereo, if you can imagine that possible in regard to the present Federal Government’s already existing lawlessness.

If our systems of resistances are not already in place by then, you can kiss what little freedom and money you have left goodbye. Leftist will take it just like FDR took everyone’s gold.


24 posted on 08/09/2012 9:52:09 PM PDT by Monorprise
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To: SeekAndFind

And one day we’ll envy the more stable economies like in, say, Zimbabwe.


25 posted on 08/10/2012 3:35:02 PM PDT by MeganC (The Cinemark theatre in Aurora, CO is a 'Gun Free Zone'. Spread the word.)
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To: MeganC
Photobucket
26 posted on 08/10/2012 9:36:08 PM PDT by fluorescence
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