bytor2112 Posted April 23, 2009 Report Share Posted April 23, 2009 “What it will mostly do is bloat -- once again -- spending and borrowing,” Doug Bandow, a Cato Institute Senior Fellow, tells Newsmax.Bandow says spending hundreds of billions more on healthcare will hurt job creation during a period of already high unemployment.He adds that government economists have already warned the economic stimulus package will eventually reduce Gross Domestic Product by crowding out private investment. A massive healthcare bill will only make matters worse.Read more.....Newsmax.com - Universal Obamacare: Will It Bankrupt America? Quote Link to comment Share on other sites More sharing options...
Hemidakota Posted April 23, 2009 Report Share Posted April 23, 2009 (edited) America is already bankrupt. Fiat printing of money is the proven case. What is disturbing, I highly doubt he would do the same with his own family budget in writing checks where there is no income to support it. " A growing chorus of experts is warning the Obama administration’s plan to add 47 million people to the health-insurance rolls may kill hopes for a sustained economic recovery.Obama’s healthcare plan would follow the $700 billion TARP bailout, the $787 billion stimulus, and a $410 billion, earmark-laden budget appropriation -- at a time when the U.S. budget deficit already exceeds $11 trillion. " Edited April 23, 2009 by Hemidakota Quote Link to comment Share on other sites More sharing options...
Traveler Posted April 23, 2009 Report Share Posted April 23, 2009 America is already bankrupt. Fiat printing of money is the proven case. What is disturbing, I highly doubt he would do the same with his own family budget in writing checks where there is no income to support it. Not only is America bankrupt but it happened before Obama. There is no more hope in Conservatism (Republicans) than in Socialism (Democrats). That one or the other can or will fix the growing debt crisis is the big lie of our generation. When it was first argued in congress that debt spending was necessary all agreed without any exception that debt was necessary during downturns in economy and that in turn all debt would be paid during upturns. But the USA very quickly became addicted to budget overruns and continued excessive spending during prosperous times – We have been bankrupted for over 50 years living off a bankrupt deficit bubble that is yet to burst. We have had warning signs with minor economic problems but the worse is coming and most of us alive today will live to see it. The Traveler Quote Link to comment Share on other sites More sharing options...
Hemidakota Posted April 23, 2009 Report Share Posted April 23, 2009 Agreed...I should of stated this happened years ago. Quote Link to comment Share on other sites More sharing options...
Dravin Posted April 23, 2009 Report Share Posted April 23, 2009 Not only is America bankrupt but it happened before Obama. There is no more hope in Conservatism (Republicans) than in Socialism (Democrats). That one or the other can or will fix the growing debt crisis is the big lie of our generation.Right now what we need is a significant decrease in spending or a marked increase in taxes. Neither side is really willing to do that. Yes, the democrats are more prone to increase taxes but not enough, if you want European style socialism (or social programs, take you pick what you want to call it) you need European style taxes. The Republicans just want to spend more and cut taxes (or not raise them) at least as of late. Quote Link to comment Share on other sites More sharing options...
bytor2112 Posted April 23, 2009 Author Report Share Posted April 23, 2009 Right now what we need is a significant decrease in spending or a marked increase in taxes. Neither side is really willing to do that. Yes, the democrats are more prone to increase taxes but not enough, if you want European style socialism (or social programs, take you pick what you want to call it) you need European style taxes. The Republicans just want to spend more and cut taxes (or not raise them) at least as of late.We need a drastic reduction in spending and we need a drastic reduction in taxes....across the board and your assessment of the Republicans is spot on! Quote Link to comment Share on other sites More sharing options...
Dravin Posted April 23, 2009 Report Share Posted April 23, 2009 We need a drastic reduction in spending and we need a drastic reduction in taxes....across the board and your assessment of the Republicans is spot on!True, if you decrease spending enough you can decrease the taxes as well, I just don't see that happening any time soon (see quote below). Before we can reasonably cut taxes quite the axe would have to come to the federal budget. Until your revenue stream is equal to or greater than your expenditure you are going to eventually run into trouble. "No government ever voluntarily reduces itself in size. So, governments' programs, once launched, never disappear. Actually, a government bureau is the nearest thing to eternal life we'll ever see on this earth." Quote Link to comment Share on other sites More sharing options...
bytor2112 Posted April 23, 2009 Author Report Share Posted April 23, 2009 True, if you decrease spending enough you can decrease the taxes as well, I just don't see that happening any time soon (see quote below). Before we can reasonably cut taxes quite the axe would have to come to the federal budget. Until your revenue stream is equal to or greater than your expenditure you are going to eventually run into trouble.Common sense. Too bad that seems to be something most American voters lack. Quote Link to comment Share on other sites More sharing options...
trulykiwi Posted April 24, 2009 Report Share Posted April 24, 2009 Not only is America bankrupt but it happened before Obama. We have been bankrupted for over 50 years living off a bankrupt deficit bubble that is yet to burst. We have had warning signs with minor economic problems but the worse is coming and most of us alive today will live to see it. The TravelerWell that is why social security came in. After WW2 the government needed to collateralize it's people. Quote Link to comment Share on other sites More sharing options...
Traveler Posted April 24, 2009 Report Share Posted April 24, 2009 (edited) Well that is why social security came in. After WW2 the government needed to collateralize it's people. Social Security is one of the greatest lies of our generation. If Americans were just paid back the money they gave the government for retirement - just principle and no interest the return would be $70,000 per year for the current generation reaching 65. Numbers are based on monies paid by individuals applied directly to life expectancy of individuals born in 1944.If any other retirement program in the United States was run like Social Security our politicians that have been charged with overseeing both Social Security as well as the treatment of American citizens under rule of law would demand that such a program be immediately ended and all involved in the misdirection and misuse of funds be considered criminals and accordingly punished – but for themselves they have a very different standard and they consider themselves patriots and heroes and thus deserving of increases in pay and bonuses as well as a very lucrative retirement for themselves – funded in part with the monies they took by force of law from the citizens that paid Social Security only to have it diverted to other places like elected officials increases in pay and retirement. The Traveler Edited April 24, 2009 by Traveler Quote Link to comment Share on other sites More sharing options...
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