Government over-spending

[Peter1469]

Link (http://cnsnews.com/news/article/cbo-feds-borrowing-48-billion-day-fy-2013-so-far)

The federal government ran a deficit of $292 billion for the first two months of fiscal year 2013 – October and November 2012 – amounting to $4.8 billion of borrowed money each day.

“The federal budget deficit was $292 billion for the first two months of fiscal year 2013, $57 billion more than the shortfall recorded in October and November of last year,” CBO said in its Monthly Budget Review Friday.

This means that the government borrowed $4.8 billion for each calendar day so far in 2013. If the Treasury Department restricted its borrowing to only weekdays, its per day average would jump to $6.5 billion per day thus far in fiscal year 2013.

CBO reported that federal revenues rose by $30 billion – a 10 percent increase over last year, but spending increased more, going up by $87 billion or 16 percent.

And the left wants to spend more.

We have not had a budget for 4 years. Congress has failed. Does anyone think we could cover this over spending with taxes?

[Chris]

http://www.youtube.com/watch?v=ap1dr2-idQE

[Chris]

The president was re-elected on promises of more of the same: more borrowing, more spending and new taxes on the rich. The Republicans who got elected did so on promises of lessened spending and no new taxes, to paraphrase George H.W. Bush. The president, who is the most liberal president since Woodrow Wilson, is largely ignorant of economics 101. But his ignorance is consistent with his beliefs that the feds can continue to spend more than they collect and continue to borrow without ever repaying.

The Republicans in the House are largely more conservative than at any time since Wilson left office. One would expect them to understand the intent of the voters who sent them there and thus say no to more taxes, no to more spending and no to more borrowing. Instead we have Republican leadership in the House that actually proposed raising more revenue by eliminating deductions on income taxes. They somehow claim that they are being faithful to their stated mission of fiscal conservatism by making you pay more money but at the present tax rates. They, too, have failed economics 101.

Any significant movement of wealth from taxpayers to tax consumers will not enhance prosperity; it will crush it, and it will breed dependence on a government that is fiscally out of control. But the recipients will no doubt vote to re-elect those who gave them these payments.

@ Republicans for Big Government (http://reason.com/archives/2012/12/06/republicans-for-big-government)

[roadmaster]

Our spending and borrowing is out of control. No easy fix for this one. We can't afford to support the illegals, other countries, and keep outsourcing our jobs. Taxing the rich isn't going to fix this. You can't put a band aide on a big hole and expect it hold.

[Chloe]

I think if we ended the wars we are in and bring all american soldiers back to this country, close those bases in other countries, raise taxes on the richest people, close all the loopholes they have, change the healthcare system, among other things, and then reinvest all that money into this country we'd be able to afford more of what we need to do here in this country.

[roadmaster]

I think if we ended the wars we are in and bring all american soldiers back to this country, close those bases in other countries, raise taxes on the richest people, close all the loopholes they have, change the healthcare system, among other things, and then reinvest all that money into this country we'd be able to afford more of what we need to do here in this country.That would be a good start but will they approve this?

[Chloe]

That would be a good start but will they approve this?

Well I doubt it because to so many people in this country and in government they think that reducing the military and our military power around the world is somehow unpatriotic or crazy talk, while at the same time they talk about not being the worlds police anymore, but then at the same time also talking about how we need to intervene in stuff that's none of our business because our interests could possibly be threatened. We waste so much money on the other side of the world in my opinion.

[Chloe]

FYI more than half my life we have been at war in afghanistan and iraq. People complain now that we are out of money but how much money has been spent on those wars? What else could that money have gone to besides that? I can think of sooooo much. It's just frustrating i'm sorry. I know the wars were because of september 11th but I was like 7 or 8 when that happened so i don't remember seeing it on TV much so i dont have the emotion that a lot of people do, and I know that's bad in a sense and i get that, but you know what, it was in 2001 and it is now 2012. Time to end the wars and do good stuff to this country in my opinion.

[roadmaster]

We waste so much money on the other side of the world in my opinion. That's a fact but no one holds them accountable. From building schools, to training others. All a while our men and women are being killed. Nothing wrong with reducing our military overseas. They should be protecting us of threats.

[roadmaster]

FYI more than half my life we have been at war in afghanistan and iraq. People complain now that we are out of money but how much money has been spent on those wars? What else could that money have gone to besides that? I can think of sooooo much. It's just frustrating i'm sorry. I know the wars were because of september 11th but I was like 7 or 8 when that happened so i don't remember seeing it on TV much so i dont have the emotion that a lot of people do, and I know that's bad in a sense and i get that, but you know what, it was in 2001 and it is now 2012. Time to end the wars and do good stuff to this country in my opinion.

It's been time that we left. We were directly hit and had to do something but never should have lasted this long.

[Peter1469]

FYI more than half my life we have been at war in afghanistan and iraq. People complain now that we are out of money but how much money has been spent on those wars? What else could that money have gone to besides that? I can think of sooooo much. It's just frustrating i'm sorry. I know the wars were because of september 11th but I was like 7 or 8 when that happened so i don't remember seeing it on TV much so i dont have the emotion that a lot of people do, and I know that's bad in a sense and i get that, but you know what, it was in 2001 and it is now 2012. Time to end the wars and do good stuff to this country in my opinion.

I agree that the wars were a waste when they turned into occupation. But 10 years of war in Iraq and Afghanistan cost less than one year of an Obama deficit. Explain that.

[Chloe]

I agree that the wars were a waste when they turned into occupation. But 10 years of war in Iraq and Afghanistan cost less than one year of an Obama deficit. Explain that.

Im not saying that there is a lot of spending right now too but the wars cost over a trillion dollars last time I checked and thats a trillion dollars that could have been saved or used on something better here in my opinion.

[Peter1469]

Im not saying that there is a lot of spending right now too but the wars cost over a trillion dollars last time I checked and thats a trillion dollars that could have been saved or used on something better here in my opinion.

Right - $1T for 10 years of war.

$1T+ for one year of Obama. 4 times over.

Heck the war was the bargain.

[Chloe]

Right - $1T for 10 years of war.

$1T+ for one year of Obama. 4 times over.

Heck the war was the bargain.

You know this would be easier if you guys just agreed with me. I don't think I've won a single argument in the last week.

[ptif219]

Shows how stupid this country is to give Obama 4 more years

[Chris]

Three problems there, Chloe. One, cutting military spending and taxing the rich won't come close to solving the deficit problem, you need to also cut all other spending drastically. Two, the President and Congress aren't about to do any of what you and I suggest regarding cutting spending. Three, why should government reinvest it (re-spend it), why not just leave it in the hands of the people what earn it?

[patrickt]

A war starts and ends. Entitlements start, grow exponentially, and never end. Only the government thinks that a failing program will succeed if they simply pour more money into it. Only liberals think people have, and should have, a free-will choice as to whether or not they want to work and get paid by their employers or customers or sit on their ass and get paid by the taxpayers. Taxpayers have only one choice, pay as ordered or face total economic destruction and possible prison.

[Cigar]

It’s immoral to cut Medicare to pay for George Bush’s lies

First off, $15bn a year is hardly significant savings, and that’s what you save (at a maximum – some argue it’s significantly less) when you raise the Medicare eligibility age from 65 to 67: a whopping $15bn a year.

You know how much George Bush’s little venture in Iraq has been costing us per year? In FY 2011, $46 billion. That’s three times the savings from cutting Medicare.

And overall, the damn war is going to cost us $3 trillion, according to Joe Stiglitz. $3 trillion for George Bush’s lie. But let’s cut all of our Medicare coverage for two years in order to pay for the Republican party’s lie of the decade, along with their other lie of the decade, Bush’s tax cuts, that supposedly were going to pay for themselves.

The tax cuts and the wars in Iraq and Afghanistan combined eat up the lion’s share of the deficit over the coming years.

So let’s cuts Medicare instead!

Just to be clear, those tax cuts and Bush’s little wars are going to be paid for by cutting your and my Medicare coverage.


http://americablog.com/2012/12/cut-medicare-republican-tax-cuts-iraq.html

[ptif219]

It’s immoral to cut Medicare to pay for George Bush’s lies

First off, $15bn a year is hardly significant savings, and that’s what you save (at a maximum – some argue it’s significantly less) when you raise the Medicare eligibility age from 65 to 67: a whopping $15bn a year.

You know how much George Bush’s little venture in Iraq has been costing us per year? In FY 2011, $46 billion. That’s three times the savings from cutting Medicare.

And overall, the damn war is going to cost us $3 trillion, according to Joe Stiglitz. $3 trillion for George Bush’s lie. But let’s cut all of our Medicare coverage for two years in order to pay for the Republican party’s lie of the decade, along with their other lie of the decade, Bush’s tax cuts, that supposedly were going to pay for themselves.

The tax cuts and the wars in Iraq and Afghanistan combined eat up the lion’s share of the deficit over the coming years.

So let’s cuts Medicare instead!

Just to be clear, those tax cuts and Bush’s little wars are going to be paid for by cutting your and my Medicare coverage.


http://americablog.com/2012/12/cut-medicare-republican-tax-cuts-iraq.html

It is no longer Bush. The tax cuts are Obama's he signed them and Afghanistan is Obama's also.

Blame Obama for continuing failed policies. I guess because it is small we should continue wasting money. There are many places Obama refuses to cut money.

[Taxcutter]

We could withdraw from Afghanistan, but still, over half of all federal outlay (even in time of war) is in the entitlements and that doesn't go away because the war ended.

You could end the war, close all the bases and cut the military in half and still have a humongous deficit.

How humongous?

According to http://www.usgovernmentspending.com/piechart_2013_US_fed

FY 2013 Deficit is 901 billion dollars.

Defense spending is 901 billion dollars.

Cut defense in half and leave everything as is, you still have a $450 billion deficit which is bigger than any year of the Bush administration.

We haven;'t even discussed the $350 billion per year identified by a libertarian think tank of obsolete new deal and Great society programs that could be completely dispensed with.

If you aren't willing to cut cut domestic spending, both entitlement and discretionary spending, the deficit is an insoluble problem.

[Cigar]

We could withdraw from Afghanistan, but still, over half of all federal outlay (even in time of war) is in the entitlements and that doesn't go away because the war ended.

You could end the war, close all the bases and cut the military in half and still have a humongous deficit.

How humongous?

According to http://www.usgovernmentspending.com/piechart_2013_US_fed

FY 2013 Deficit is 901 billion dollars.

Defense spending is 901 billion dollars.

Cut defense in half and leave everything as is, you still have a $450 billion deficit which is bigger than any year of the Bush administration.

We haven;'t even discussed the $350 billion per year identified by a libertarian think tank of obsolete new deal and Great society programs that could be completely dispensed with.

If you aren't willing to cut cut domestic spending, both entitlement and discretionary spending, the deficit is an insoluble problem.


Since when did something YOU invest YOUR money in become an entitlement?

[Taxcutter]

When did you ever INVEST you money in SS, Medicare, Medicaid?

Investment is voluntary. Your SS/Medicaid/Medicare contributions were coerced.

Regardless, those programs are still 56% of all federal outlay. yeah, they generate their own taxes, but they consume more than that amount. a lot more.

[Cigar]

When did you ever INVEST you money in SS, Medicare, Medicaid?

Investment is voluntary. Your SS/Medicaid/Medicare contributions were coerced.

Regardless, those programs are still 56% of all federal outlay. yeah, they generate their own taxes, but they consume more than that amount. a lot more.


Is the money you put into a bank account an entailment?

[Taxcutter]

Nope. Money in my bank account was put there voluntarily.

That doesn't affect the fact that domestic entitlement and discretionary spending must be curtailed or there is no solution to the deficit.

[Cigar]

Nope. Money in my bank account was put there voluntarily.

That doesn't affect the fact that domestic entitlement and discretionary spending must be curtailed or there is no solution to the deficit.


So you're not entailed to that money?

Good to know, can I have your account number?

[Agravan]

Cigar does not understand the difference between voluntary and coerced.

[Cigar]

Cigar does not understand the difference between voluntary and coerced.


Hey ... this is an Adult Conversation ... go back to your little table; we're talking about the difference between Individual Welfare and Corporate Welfare ... so disengage head from ass and join in.

[Agravan]

Hey ... this is an Adult Conversation ... go back to your little table; we're talking about the difference between Individual Welfare and Corporate Welfare ... so disengage head from ass and join in.
Adults? The only adult I saw in the conversation was Taxcutter. In you, I see an idiot child trying to play word games while not understanding the simple concept of voluntarily contributing to a bank account and being coerced (forced) to pay into SS.
Or are you just too stupid and full of yourself to admit that you're wrong (as usual)?

[garyo]

After reading your comments and childish pics, you haven't a clue.:douchebag:

[Cigar]

After reading your comments and childish pics, you haven't a clue.:douchebag:



Whatever you say sport.

[Peter1469]

You know this would be easier if you guys just agreed with me. I don't think I've won a single argument in the last week.

Here is a report on the money spent on the entire War on Terror since 9-11 until March 2011. Link (http://www.fas.org/sgp/crs/natsec/RL33110.pdf)

Here are Obama's deficits: Link (http://cbo.gov/publication/22087)

It was $1.4T in FY11.

[Chloe]

Here is a report on the money spent on the entire War on Terror since 9-11 until March 2011. Link (http://www.fas.org/sgp/crs/natsec/RL33110.pdf)

Here are Obama's deficits: Link (http://cbo.gov/publication/22087)

It was $1.4T in FY11.

Oh believe me I am not saying that President Obama isn't spending a lot of money. All I am saying is that there are a lot of other ways to possibly save money.

[Peter1469]

Oh believe me I am not saying that President Obama isn't spending a lot of money. All I am saying is that there are a lot of other ways to possibly save money.

Sure there is. It doesn't look like he wants to though.

[Chris]

Hey ... this is an Adult Conversation ... go back to your little table; we're talking about the difference between Individual Welfare and Corporate Welfare ... so disengage head from ass and join in.

I see no difference, both derive from the same crony capitalism of social democracy, be it favors for votes or favors for campaign contributions, whether those favors are liberal as in social welfare, or conservative as in corporate welfare, it's hand outs exchanged for power by both parties in both ways.