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President Obama still has no plan for debt. If the President has his way we will be 17Trillion dollars in debt. Obama would rather continue to kick that can all the way to our Grandkids. He claims he isn’t pointing fingers but it’s all the Republicans fault. Those of you that are blinded by his shinny crown can bow at his feet. As for me, I choose freedom and democracy. This man cares nothing about anything except his absolute power. This man and his followers are leading this Great Country to Communism and destruction.

He still has no idea what he is doing, he must be stopped politically. We must have a balanced budget amendment soon. We must do it for not only us ,but our Grandchildren.

We must stop the run-away spending. Stop the waste. Stop Obama.

 

 

Skippy

Last edited by skippy delepepper
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The balanced budget amendment is just a talking point like abortion.  It will never happen.  The states will never vote for it.  The Founding Fathers left it out on purpose. 

 

No one has a plan for accruing debt, even the Ryan Plan calls for $7Trillion in new debt over the next 10 years. 

 

The real issue today is the very real issue of the credit rating of t-bills, which would cause a complete upheaval of the US banking and finance sectors.  The debt is just a side show. 

Neither Obama, nor the Democrat controlled Senate had a plan.  Until, Reid's last minute one. Reid refused to allow the House plan of Cap, Cut and Balance to come to the floor, a plan two-thirds of the House approved, not just the Republican majority.

 

Ryan's plan calls for a lowering of the overall debt.  that is a difference.

 

Why wouldn't the states accept a balanced budget amendment?  Forty-nine of the 50 already subject themselves to such a limitation!

 

As for the rating of Treasury securities, if you checked, the credit rating agencies stated that not only the debt ceiling, but signs that the federal government was getting its financial house in order, were part of their concern.

The ryan Budget Plan calls for a deficit reduction of $4.4trillion over 10 years while Mr. OBama's call for $4trillion over 12 years.  Both plans maintain deficits of over $400billion every year til at least 2025.  And the Repubs are calling the Ryan Plan unworkable because they know their constituents wont tolerate such drastic measures.  Both plans have the fedgov spending over $700billion per year just in interest on debt finance. 

Revenues have to increase by 20% to make any progress on the deficit and the national debt.  Thats just math. 

Originally Posted by Extra-260:
Originally Posted by interventor1212:

Sufficient reductions would make revenue increases irrelevant.


I agree, lets cut military spending and bring the troops home. Let Korea, Japan, Germany, Iraq,  Timbucktoo and everybody else defend their own country.

Everything has to be on the table. It's that important. Spending Control.

Congressional Self Control.

Skippy

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