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A Man of Wealth and Taste
 
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Too Much Damage Has Been Done

After the Titanic struck the iceberg that fatefull night in April of 1912 it was the ships builder Thomas Andrews of the firm Harold and Wolff that informed the captain that the damage to the ship was too great and that it was going to sink no matter what was done. Well the United States has now reached that point, that no matter what is done the deficit and debt is now to great to pull out of the dive. It is just a matter of time now before the deficit and debt numbers drag the US under.

This information about the US came from Speaker of the House John Boehner when he said on "Greta" last night that, "The US can not balance its budget without growth in the economy." If you couple this statement with the fact that for every percent above 92% debt to GDP you shave one percent off growth in the economy. Since the US is now at roughly 100% of debt to GDP one has to be asking where is the growth going to come from as the drag of the debt is such that it is causing a sluggish and slow economy? Thus if Boehners statement is accurate and the assesment about debt and growth is true than it is just a matter of time before the numbers of deficit and debt sink the US like the Titanic under the waves no matter what is done.
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Old 03-03-2011, 09:30 AM
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Tabs, if I may - no one is going to call our debt. Not in our lifetimes.

The damage is to the business side of our economy. There is permanent damage when a company dissolves. That company's knowledge, abilities, resources are all gone. And they are not usually re-created. They are gone. Do that a couple hundred thousand times and we are in real trouble.
Old 03-03-2011, 09:42 AM
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"Dewey defeats Truman"

It's a problem. A fixable problem. Just a lot of people aren't going to like the fix.
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Old 03-03-2011, 09:45 AM
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We could balance the budget easily if enough anti-democrat spoons were utilized.

They are the only things standing in our way.
Old 03-03-2011, 10:11 AM
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can we get Wayne to set aside a special forum for tabs' predictions?
Old 03-03-2011, 10:40 AM
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A Man of Wealth and Taste
 
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Quote:
Originally Posted by rusnak View Post
Tabs, if I may - no one is going to call our debt. Not in our lifetimes.

The damage is to the business side of our economy. There is permanent damage when a company dissolves. That company's knowledge, abilities, resources are all gone. And they are not usually re-created. They are gone. Do that a couple hundred thousand times and we are in real trouble.
What do I say to this without being rude?

Nobody has to "Call" the debt, all that has to happen is that interest rates on the Debt have to go up, or have a failed Bond Auction cause no one will buy the debt we are offering, or the value of a USD sinks to being practically worthless..and that is all she rode.

Consider if interest rates on the 30 year T bill go back to the historic high in 81 of 16% then fully 3/4 of the revenue the Treasury takes in will be consumed by interest on that debt. So if the US is currently taking in 2.5T USD and 3/4 is consumed by interest then the US govt would have 700B USD to operate on. Currently that is just the DOD budget.
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Old 03-03-2011, 10:43 AM
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can we get Wayne to set aside a special forum for tabs' predictions?
U read my mind, you are truly telepathic...as I was thinking of asking for my own Forum...as I am tired of having to compete with all the riff raft or wooly headed Threads that are posted on this Forum..
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Old 03-03-2011, 10:46 AM
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It's not a bad idea!

And, for other reasons, Rwebb should have his own forum too.
Old 03-03-2011, 10:56 AM
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It is fixable with the proper fix. Problem is the politicians are too cowardly to implement it. So go from there.
Old 03-03-2011, 10:59 AM
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U read my mind, you are truly telepathic...
He must have ESPN
Old 03-03-2011, 10:59 AM
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I fear Tabs is right (tho it pains me). At best the USofA is at critical mass...will it run away into a China Syndrome (NPI)? Left to the leftists it's a slam dunk.
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Old 03-03-2011, 11:09 AM
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A Man of Wealth and Taste
 
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I have felt if the Republicans punt as Obama punted..come March to June of 2012..there will be a crisis.

The world is watching and the Republican victory in November gave the world a sigh of relief.

The Republicans actions so far on the State level and in the House are a relief to the world. As the Stock Markets are reflecting.

If Obama is re relected in Nov of 2012 come December there will be crisis....

It is all a matter of confidence that the US can get it's fiscal house in order. Obama and the Dems just don't get it..
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Old 03-03-2011, 11:16 AM
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Quote:
Originally Posted by sammyg2 View Post
We could balance the budget easily if enough anti-democrat spoons were utilized.

They are the only things standing in our way.
Balancing the budget isn't enough. And, it's not just a Democrat problem.
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Old 03-03-2011, 11:24 AM
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