Exploding Debt

[discocrisco01]

From the News -Leader

"With the federal deficit at more than $12 trillion, Farm Bureau members learned they, along with elected officials and all Americans, will have to make some hard choices in the near future.

Three members of the American Farm Bureau Federation Federal Deficit Task Force spoke Nov. 30 at the Virginia Farm Bureau Federation 2009 Annual Convention in Richmond. They told participants that five major programs already consume the great majority of the federal budget: national defense, Social Security, Medicare, Medicaid and payments on the debt.

“Every American taxpayer already owes nearly $11,000 to the countries we’ve borrowed from,” said Bob Young, AFBF chief economist, in a video located on the AFBF Web site DeficitTaskForce.fb.org.

“That’s a total of $37,000 in national debt for every American.”

Farmers are concerned about the federal deficit, “because we are small business owners, and we all know how spending more money than what you bring in year after year is not a sustainable solution,” explained Scott Sink, a member of the AFBF task force and president of the Franklin County Farm Bureau.

Among the top five expenditures, the task force has asserted that only national security spending should remain untouched. Sink said that Social Security could be one of the easier problems to fix, if only because reducing benefits or extending the retirement age are considered politically easier to do than other solutions"

The debt issue seems to be a big problem. It seems that the solution is massive spending cuts are necessary according to the article. Or this is an illusion>

Is that really Americans have demanded too much without tax increase? Is it due to try to maintain an imperial army that we cannot afford to keep?

What are you thoughts?

[madokie]

1. AT this point in time I'm not worried about it

first things first and first thing to do is get our ass back to working and taking care of the peoples business of which our fine President seems to be doing a very good job of. The people who are slowing down the job creating process is the same people who do not want Obama to succeed. My question to you is. Do you want him to succeed?

[arcadian]

4. Why don't you just say what you really mean?

Papahs Please!!!

http://1.bp.blogspot.com/_zKBbtj9rWrU/SrmfAdYwRJI/AAAAAAAAC8M/QUF6sVhG_TI/s400/papers+please.jpg

[madokie]

6. why don't you

KMA

[grantcart]

2. what is it as a percentage of GDP? How does that compare with

Japan, German and Great Britan?

[KansDem]

3. What's the "we" horseshit?

...the task force has asserted that only national security spending should remain untouched. Fuck you, farmboy! Every one I know thinks spending for national security is way out of line!

Sink said that Social Security could be one of the easier problems to fix, if only because reducing benefits or extending the retirement age Fuck you, again! I'm not settling for less in old age because you assholes decided undertaking wars for hegemony while cutting taxes on the wealthy was a good idea!

The debt issue seems to be a big problem. It seems that the solution is massive spending cuts are necessary according to the article. Triple fuck you! How about "massive tax increases" on the oligarchy? I don't want my national parks turned into huge "U-Stor-Its" because of Leona Helmsley-like tax policies!

This the "same old, same old" crap flew some 30 years ago. Now, Reaganism is dead and "Trickle-Down Economics" has been shown to be a huge hoax.

It was their ideas, but now they're our problems?

The "ideas" of Sink stink!

[Winterblues]

5. Apparently the writer does not know the difference between Debt and Deficit.

We do not have a 12 trillion dollar Deficit. That is our National Debt and it was doubled under the Bush* Administration. Bush* added more to our National Debt than every single President before him Combined.