U.S. is blissfully stuck in debt spiral


Monday, November 02, 2009 | 33 comment(s)

Font Size: Shrink Font Enlarge Font | Submit your news
Who is reporting on what our government is doing to us? For years I have watched as both the Republicans and Democrats have been in a spending frenzy. Yet, not being reported is the debt that is being piled on since January 2009.

True, President Bush and a Democratic Congress bloated the debt by $750 billion, but not without the blessings of our President Obama and his staff at the time. National debt is just more than $5 billion more than the U.S. GDP. Don’t believe my figures? Just go to http://www.usdebtclock.org. Of course by the time that you read this it could be almost to the $6 billion mark.

Please take the time to study this debt clock. Every man, woman and child in the United States owes $54,507 in personal debt. Yes, your kids, too. Let us add to that the national debt and the liability per U.S. citizen jumps to $343,721. That is owed by every man, woman and child right now. I sure can’t pay it. Can you?

We have a government that is planning a cap-and-trade bill, which is actually just another bigger and better tax. Government is telling us that it will only affect manufacturing and those who consume energy. We all consume energy every day. Experts say that if this bill is passed, it will raise our electric bills by as much as 90 percent, gas and heating will be even higher.

We have got to have the government run our health care system and it has to happen right now. Funny thing is that it really doesn’t start until 2013 or 2015, depending on who you listen to. From behind closed doors we are going to see the most bloated spending ever. Speaker of the House Nancy Pelosi just said on national TV that they got the health care plan down to under $900 billion. The projected cost of the health care bill by the year 2020 is a mere $7.4 trillion, then top that off with the interest that we will owe on that $7.4 trillion and it balloons to more than $21 trillion.

Neither the cap-and-trade nor health care bills were written by Congress, but by SEIU and ACORN.

Christopher Long

Myrtle Point

Next

Have you checked out The World Link Forums?

Comments

The comments below are from users of theworldlink.com and do not necessarily represent the views of The World or Lee Enterprises. Participation Guidelines

Note: There is a maximum of 200 words per comment. If you wish to post more, please visit our forum.
Comment Policy

The World welcomes your comments about stories, and we encourage a robust dialogue on this site. All comments must meet reasonable standards of decency and civility.

Please follow these basic rules:

  • No defamatory comments about individuals or businesses.
  • No deliberately false information.
  • No obscenity or racially offensive language.
  • No harassment, verbal abuse, threats or personal attacks.
  • No information that invades another person's privacy.
  • No business solicitations or charitable solicitations.
Comments that violate these standards will not be posted. Users with repeated violations may be banned from future posting.

Comments will be approved throughout the day during business hours. After hours and weekend comments may not appear until the following business day. It may take a couple of hours before comments are approved.

The World generally does not edit comments, but we reserve the right to edit any comment that does not meet our standards.

Close Guidelines

MadHatter wrote on Nov 27, 2009 6:31 PM:

@ Nojob

You said, "Even tells us how they have to label soda pop machines."
Question: Did you know other countries label things like MSG in a bright neon green label because MSG is an "excitotoxin" or neurotoxin that has a degenerative effect on the brain and nervous system?
Perhaps some of those things in Obama's bill might actually have our interest at heart.

MadHatter wrote on Nov 27, 2009 6:23 PM:

We claim & blame this part of the government or that.. but the reality is the people doing it is you and I.

We shop and Walmart & places that send our money overseas for shoddy products. We destroy our countries natural resources for money to buy things shoved at us on commercials.

When was the last time you built something for yourself to use on a daily basis? When was the last time you grew food in your front yard instead of buying the chemical laced foods from other countries?

Blame no one but ourselves first, stop throwing the rocks... ..you are in the glass house you built.

tag urit wrote on Nov 10, 2009 6:09 AM:

The CBO says Congress can expect to raise $167 billion in new penalties on individuals and employers.

Isn't there something inherently wrong with depending on penalties for federal revenue??

dan milburn wrote on Nov 9, 2009 6:04 PM:

After the great success of the CASH FOR CLUNKERS program I was sure that the Obama Healthcare initiative stimulus was next. The CASH FOR CODGERS program would reward young couples wishing to add babies to their family with a stimulus package rebate for turning in elderly family members. If you wanted a baby boy on the program you could turn in 1-grandpa over 70-years old or two aunts at least 62-years old but not over 90-years old. A baby girl rebate was available for an elderly Grandma between 67 and 72 -years old, with a discount if the baby girl signed a lifelong waver to not enguage in full body contact sports. lol.

MarkM wrote on Nov 9, 2009 5:57 PM:

Mr. Long,

Why would you not support the House health care reform bill if it reduces the deficit by $100 billion?

Would you rather cut Medicare/Medicaid entirely? That would save money.

Doing nothing leads us straight to national bankruptcy.

MarkM wrote on Nov 9, 2009 5:40 PM:

Joe Black,

I hope you're a lawyer. Otherwise, you're wasting your time.

Reedsport wrote on Nov 9, 2009 4:07 PM:

I work in a Doctor's office, we have been passing the almost 2000 pages around reading and highlighting sections such as these:
*3,425-Uses of the word "shall," representing new duties for bureaucrats and mandates on individuals, businesses, and States
*$88,200-Definition of "low-income" family of four for purposes of health insurance subsidies
*Section 1160 of the bill gives bureaucrats in the Obama Administration virtual free rein to develop a new "high-value" reimbursement system for Medicare by May 2012
*111-Additional offices, bureaus, commissions, programs, and bureaucracies the bill creates over and above the entitlement expansions-more than double the number in H.R. 3200

nojob wrote on Nov 9, 2009 1:58 PM:

Well, I started reading that health care bill and just jumped into the middle and was happy to see that pages 1510 thru 1519 are all about how restaurants will have to do their menus and menu boards. Thank God we have congress to decide that for us! Even tells us how they have to label soda pop machines. That should save a lot of money and I feel healthier already.

Hoping to find more good healthy and money saving stuff as I read further. . .

Joe Black wrote on Nov 9, 2009 12:44 PM:

I think none of you have read the bill and are all going off propaganda passed out by the left and the right. None of you have any idea what this bill will do other than what has been told to you by whichever liar you decided to line up with. You cut and paste your arguments and then try to act like you know something.

How will this bill affect a 66 yr old man on Medicare and his employed spouse? Oh, you supporters with say it will make it better for them and the opposition will tell you it will get worse.

But none of you know. You are all ignorant and don't really care. It's all about making political points at the expense of Americans. Read the bill at: http://docs.house.gov/rules/health/111_ahcaa.pdf

Go ahead. Take the time and read it and make up your own mind - if you have one.

Naw, that's looks to hard. You'll just keep letting other people tell be what to think.

MarkM wrote on Nov 9, 2009 12:12 PM:

The Lewin group is wholly owned by United Health Care. It is biased and unreliable.

The CBO is a non-parisan, objective source recognized by both sides of the aisle.

It says the House plan saves $100 billion over ten years. A single payer system would save four times that in the first year, but unfortunately no one wanted to ever talk about that.

If you're a real budget hawk you should be on the single payer bandwagon. Our current system is an unsustainable budget-breaker.

george soros wrote on Nov 9, 2009 9:38 AM:

There is mounting evidence that ObamaCare won’t do enough to reduce deficits. The Peterson Foundation just released a study on the Baucus bill that it commissioned from the Lewin Group. The findings:

1) The impact on the Federal budget deficit is positive only if the reductions to reimbursement levels are maintained. More than half of the $404 billion in savings over the 2010 through 2019 period is attributed to reductions in the rate of growth in payments to providers for health services, plus reductions in hospital DSH payments.

2) Without providing new measures to control the growth in costs, the study estimates that total health spending would rise from about 17 percent of gross domestic product (GDP) in 2010 to 25 percent in 2029.

3) The federal government’s health spending would increase by almost $400 billion over the next 10 years and $1.6 trillion over the 20-year period.

MarkM wrote on Nov 9, 2009 8:59 AM:

Megapotamus,

It also cuts the deficit by $100 billion according to the CBO. You and Mr. Long should love that part.

Megapotamus wrote on Nov 8, 2009 7:46 PM:

So let me get this straight:
We're going to pass a health care plan
written by a committee whose head says he doesn't understand it,
passed by a Congress that hasn't read it but exempts themselves from it,
signed by a president that also hasn't read it, and who smokes,
with funding administered by a treasury chief who didn't pay his taxes,
overseen by a surgeon general who is obese, and
financed by a country that's nearly broke?

hiluix wrote on Nov 8, 2009 7:34 PM:

Are these the same groups that get federal funding for concluding that climate change is man made , and if they conclude otherwise they lose funding ?

viva la 2010 wrote on Nov 8, 2009 6:59 PM:

To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical.
Thomas Jefferson

MarkM wrote on Nov 7, 2009 7:37 PM:

Rianza,

Who is it that is defrauding Medicare the most? Private companies. The very folks you want to turn the whole thing over to. They don't care whom they consume on their way to ever-increasing profits. You think they are looking out for your health? Dream on.

We do not have a perfect government. It is only as good as we make it. Most of the time it works extremely well; otherwise our country wouldn't be as successful as it is.

We don't need small government. But we don't need big government either. We do need strong, effective government that does the job we need it to do.

I invite you to explore some of the items on this website to rediscover some of government's forgotten achievements.

http://governmentisgood.com/

rianza wrote on Nov 7, 2009 8:49 AM:

Anyone see the special on Medicare fraud?

Bottom line: the federal government is absolutely inept and incompetent at running ANYTHING efficiently, effectively, within budget and without fraud. No exceptions. I can name twenty federal programs right now that are financial disasters by any measure. And all they do is move on to the next pet project like irresponsible children. Math's too difficult? Let's color instead!

And so they want to run healthcare. You think it's bad now, wait until that bunch of idiots in Washington get their hands on it. Those of you who are looking to the government to cover your backsides are looking in the wrong place. Connect the dots and the government has had a significant hand in creating this healthcare mess - just as they did in creating the housing collapse. Time to start taking the toys away from the children - not encouraging more bad behavior.

MarkM wrote on Nov 6, 2009 9:25 PM:

Viva La 2010,

Your numbers are absolutely correct.

As soon as it looked like Obama was going to win, Wall St jumped on his bandwagon and brought lots of money.

The point is not that Obama is corrupt and McCain is a saint or vis versa. The point is that all of our politicians in both parties are for sale to the highest bidder. In this game, you and I have no chance for fair representation against Goldman Sachs.

It doesn't have to be this way.

We need strict campaign finance reform including publicly funded elections. For instance, if every tax return filed last year included a $10 contribution to election finance, we would have raised more money than was spent in all of the elections in 2008.

That's how we reclaim our democracy.

We can't really blame Obama or McCain for taking Goldman's money in order to get elected and then bending over for them when the governing starts.

If we want control, we have to take it. Together.

It's us against Goldman. I like our odds if we cooperate.

Megapotamus wrote on Nov 6, 2009 6:59 PM:

I find it interesting that those who know a lot about cap and trade do not support it. Democrats have been doing their best to change the wording so that people will feel bad opposing it. Wording, unfortunately, does not change the fact that this legislation will have catastrophic consequences for the US economy.

viva la 2010 wrote on Nov 6, 2009 10:39 AM:

According to an analysis of Federal Election Commission records by the Center for Responsive Politics, the 2008 Obama campaign received $12.6 million from Wall Street "Securities and Investment" firms versus John McCain's $7.9 million

The top three corporate employers of donors to Barack Obama, Joe Biden, and Rahm Emanuel were Goldman Sachs, Citigroup, and JPMorgan


Employees of Lehman Brothers alone gave Obama $370,000, compared to about $117,000 to John McCain.

Since 1998, the financial sector has given a total of $37.6 million to Obama, compared to $32.1 million to McCain. But Obama ran for his first national office only in 2004. So McCain got less from the financial industry in a decade that included two runs for president than Obama did in FOUR YEARS!

MarkM wrote on Nov 6, 2009 10:21 AM:

Megapotamus,

I didn't convince myself about AGW. The 127,000 PhDs at the American Association for the Advancement of Science, The National Academy of Sciences, The joint statement of 32 international academies of sciences, the United States Climate Action Partnership (including among others BP, Conoco, Shell, Alcoa, GE, GM, Ford, Chrysler, and Dupont), ExxonMobil -- EXXONMOBIL!! -- did. They also recognize AGW is happening and we must take action.

I'm not convinced that Cap and Trade will fix it, but I think it's a good start. The Trade part is problematic, but the Cap part is crucial.

We need to remember that WE are the government. If it's not working for our common interest and benefit then WE are to blame. Self government requires participation and responsibility.

Without a strong government how else do we counter the power and money grabs of corporate giants like Goldman-Sachs or United Health Care? Who else can stand up to them?

You may not like unions, but without them the middle class of America would never have existed.

Gary wrote on Nov 6, 2009 9:10 AM:

Christopher, I love these letters that bring the Marxists out like worms from a hot log. Some will have to agree with you in the future and some will just remain ignorant such as beleiving in man made Global Warming (a FARCE) wonderful govt. health care (another Farce). I wonder what table they eat at? Do they actually teach them this diatribe in college? Yes, I think they do.

Megapotamus wrote on Nov 6, 2009 8:31 AM:

To MarkM, I see that you have convinced yourself about Cap and Trade, Global Warming, and Government run Health Care.
We have seen how well the government delivers on its promises and its bureaucracies- pursue the money without giving us benefits on so many levels. Imagine another branch of government that ultimately must listen to the Secretary of the Treasury - another “service” of which is the IRS.
Government-dominated health care would transform union organizing. Whether or not the government explicitly nationalizes the health care industry, all health care workers would become quasi-public employees of the public plan. Whatever costs unions increased would be passed on to the taxpayers and patients. Every step toward government-run health insurance vastly simplifies the process of organizing new union members and keeping existing union members employed.

MarkM wrote on Nov 5, 2009 3:30 PM:

HILUIX,

Are these the global warming morons you're talking about?

The Pentagon (in 2004)
US-CAP (look it up) which includes BP, Conoco, Shell and many other energy corporations (in 2005)
ExxonMobil (in 2006)
W Bush's EPA (in 2007)

All these groups acknowledge that global warming is real, humans are causing it, and its consequences will be dire. Each of them support either Cap and Trade or a Carbon Tax or both.

Even Dr. Patrick Michaels, longtime GW denier admitted in his keynote speech "Convenient Facts" at the Heartland Institute's 2008 International Skeptics Conference on Climate Change, "Global warming is real, and people have something to do with the second warming of the twentieth century. Now, get over it."

Global warming is a serious problem. We can do something about it. But denying what the overwhelming majority of the world's scientists ceased arguing about a decade ago does no one any good.

MarkM wrote on Nov 5, 2009 3:14 PM:

TAG URIT,

The Apollo Alliance released recommendations for the Recovery Act in Dec 08. Some were incorporated into the ARR Act, including a green jobs proposal that cost $100 million. That's not much out of $787 billion. Far less than 90% to be sure.

Conservative Republicans advocating tax cuts, which are very poor economic stimulators, had a much greater influence on the final bill, despite the progressive composition of the Congress and Senate.

It should be no surprise that the legislation would be progressive; that's what the people voted for.

hiluix wrote on Nov 5, 2009 12:33 PM:

Next thing you know MARKM will be saying Santa Clause the Easter bunny and the Tooth Ferry all approve of the health care bill and the environmental bill , which by the way is where alternative clean energy will come from and fine first rate nationalized health care will also be free and plentiful . These global climate change morons are the same types that said the Earth was flat in the old days you know the same climate that has been changing long before there were SUVs and oil drilling platforms and humans , crazy all of em .

Megapotamus wrote on Nov 5, 2009 10:23 AM:

We have seen how well the government delivers on its promises and its bureaucracies- pursue the money without giving us benefits on so many levels. Imagine another branch of government that ultimately must listen to the Secretary of the Treasury - another “service” of which is the IRS.
Government-dominated health care would transform union organizing. Whether or not the government explicitly nationalizes the health care industry, all health care workers would become quasi-public employees of the public plan. Whatever costs unions increased would be passed on to the taxpayers and patients. Every step toward government-run health insurance vastly simplifies the process of organizing new union members and keeping existing union members employed.

tag urit wrote on Nov 5, 2009 6:35 AM:

So MarkM's conclusion that some combination of Alliance-like progressive organizations can account for something like 90% of the bill's provisions. It seems pretty obvious, under the circumstances, that the American Recovery and Reinvestment Act was essential a Progressive bill, and that it was passed, not because of an actual consensus-driven process in the Congress, but because the Congressional leadership, which consists primarily of such progressives decided it was their turn at the helm and they didn't want anyone subjecting their decisions to actual debate.
Social liberals seem to be quite comfortable with a powerful central government and hope to harness its power to advance their agenda.

MarkM wrote on Nov 4, 2009 3:24 PM:

A couple corrections for you, Mr. Long:

The House health care bill with the public option REDUCES the deficit according to the CBO.

http://www.cnn.com/2009/POLITICS/10/21/health.care.cbo/index.html

http://www.foxnews.com/politics/2009/10/21/pelosis-public-option-gets-boost-report-pegging-cost-obamas-b/?test=latestnews

The CBO also reports that the Cap and Trade legislation will cost the average US household only $175/YEAR with 20% of US households receiving rebates.

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/22/AR2009062202836.html

MarkM wrote on Nov 4, 2009 3:05 PM:

From the Apollo Alliance website:

"The Apollo Alliance is a coalition of labor, business, environmental, and community leaders working to catalyze a clean energy revolution that will put millions of Americans to work in a new generation of high-quality, green-collar jobs. Inspired by the Apollo space program, we promote investments in energy efficiency, clean power, mass transit, next-generation vehicles, and emerging technology, as well as in education and training. Working together, we will reduce carbon emissions and oil imports, spur domestic job growth, and position America to thrive in the 21st century economy."

http://apolloalliance.org/about/mission/

I suppose, Mr. Long and Mr. Soros, you both prefer "Drill, baby, drill"?

I think I'd rather have the Apollo Alliance writing legislation rather than you two, if it came down to that.

MarkM wrote on Nov 4, 2009 3:00 PM:

I understand how you might think Glenn Beck wants you to be afraid of ACORN and SEIU, but actually Beck just wants you afraid.

Not only do ACORN and SEIU not control Congress, they don't even control the Apollo Alliance.

The Apollo Alliance is a true grassroots organization. SEIU is one of 35 unions in its membership. ACORN is one of its 14 social justice/faith based organizations. The Alliance is also comprised of 23 environmental organizations (including Republicans for Environmental Protection), eight trade associations, 16 financial & legal firms, 42 renewable energy companies, 10 energy efficiency companies, nine consumer products manufacturers, 14 green building firms, and business leaders from Merrill Lynch, Google, and PG&E.

http://apolloalliance.org/about/endorsers/

On the other hand, Beck's partner Phil Kerpen in the attacks against the Apollo Alliance represents the astro-turf group Americans for Prosperity which boasts all of THREE partners on its website.

Apollo argues its own case pretty well.

http://apolloalliance.org/apollo-productions/weekly-updates/what-does-the-fox-news-channel-have-against-green-jobs/

Got anything else besides the rantings of Glenn Beck?

george soros wrote on Nov 4, 2009 8:46 AM:

From:
Apollo Weekly Update, 2/20/09: Clean Energy Breakthrough in Stimulus, Next Steps
By: Keith Schneider
From: Apollo News Service
Date: 2/20/2009

While the clean energy focus of the stimulus was inspired by the Apollo’s vision, the specific content of many of the bill’s provisions was influenced by policy proposals that the Apollo Alliance made last year in The New Apollo Program and the Apollo Economic Recovery Act. “The recovery bill represents the focused work of labor, business, environmental and social justice organizations who developed a clear strategy about where the nation needed to go, and worked together to achieve it,” said Phil Angelides, former California treasurer and chairman of the Apollo Alliance.

As Senator Harry Reid, the Senate Majority Leader, noted in a statement. “We’ve talked about moving forward on these ideas for decades. The Apollo Alliance has been an important factor in helping us develop and execute a strategy that makes great progress on these goals and in motivating the public to support them.”

MarkM wrote on Nov 2, 2009 6:13 PM:

I'm going to have to call a "Joe Wilson" on you. Your numbers are good for the most part, but your analysis of them is way off.

Before deconstructing that, what I really want from you is the proof that the C&T and HC bills were written by SEIU and ACORN.

Gotta a link for that one, Joe?


*Member ID:
*Password:
 

Not already registered?

Do not use usernames or passwords from your financial accounts!

Note: Fields marked with an asterisk (*) are required!



*Create a Member ID:
*Choose a password:
*Re-enter password:
*E-mail Address:
*Year of Birth:
 

(children under 13 cannot register)

*First Name:
*Last Name:
Would you like to be added to our mailing lists?
Daily Headlines
Breaking News
Special Offers
 
Advanced Search
Web Search powered by YAHOO! SEARCH

Blogroll

Most Popular

Polls

» View Past Poll Results
» Suggest a Poll

Marketplace

Special Sections

More Special Sections