[Zakeet]

It is impossible to amortize the U.S. debt. It simply cannot be done no matter how much we cut spending and/or raise taxes. We do not have enough wealth in this country to make the necessary payments ... and never will.

Some time pick up an economic history text and read what happens to countries who have faced this situation. The consequences ... including hyperinflation, revolution, massive unemployment, breakdowns in society, and soaring poverty ... are horrible! All brought to you by Rats, RINOs and the Head Idiot.

[cuban leaf]

__It simply cannot be done no matter how much we cut spending and/or raise taxes. We do not have enough wealth in this country to make the necessary payments ... and never will.—

Baloney!

Have you never heard of a printing press?

It’s what it will eventually come to. It’s the only way out. And even it is not really a way out any more than jumping out of a burning aircraft without a parachute is a “way out”.

[DaxtonBrown]

This is why I wrote te book “Biflationary Depression”, every chart show the economic freight train going off the rails, through an oil depot, into a crowded stadium and exploding. The only question is when.
We used to think cutting taxes would “starve the beast”, but what has happened is the Federal reserve is now printing up Monopoly money to fill the gap between government revenues and outlays. The Fed now enables deficit spending through debasemant of the dollar.
But here is the real kick in te nuts. We all naively thought that increased money supply would result in immediate hyperinflation which would limit the Fed. But what the printed money has done is to both cause inflation AND deflation, which to an extent nets out. Thus gas and food go up, but wages and home prices go down.
Biflation is possible because GDP=M*V, which has two independent variables. As M goes up you can get inflation (stock market rising) but velocity V gets crushed as everyone loses trust and hordes money. The double whammy of biflation, thus leading to a Biflationary Depression even as Obama touts green shoots.
I’ve really written some pretty cutting edge stuff. http://www.futurnamics.com/biflation.php

[FrankR]

[cicero2k]

There is no better test of economic strength than tax receipts. The governement can’t lie or spin this number. The commerce deparment can’t publish what is political.

If tax receipts do not keep up with inflation plus population growth (births + immigrants - deaths), we’re doomed. Nominally should be a 5% increase.

In California, they increase spending at a 7% rate while inflation and (births + immigrants - deaths) go up 4%.

[PGR88]

And while this happens, Washington is occupied on how we should pay for the sex lives of Georgetown Co-eds.

It boggles the mind.

[do the dhue]

[sjmjax]

It is his intention and goal to destroy the US economy.

[Clintonfatigued]

“I WILL CUT THE DEFICIT IN HALF, BY THE END OF MY FIRST TERM!” Barack Obama, 2008.