Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

Federal Budget Deficit Tops $1 Trillion for the First Time! YES WE CAN!

This is a good thing?

"This has many Republicans and deficit hawks worried that the U.S. could be setting itself up for more financial pain down the road if interest rates and inflation surge. They also are raising alarms about additional spending the administration is proposing, including its plan to reform health care."

"President Barack Obama and other administration officials, including Treasury Secretary Timothy Geithner, have said the U.S. is committed to bringing down the deficits once the country has emerged from the current recession and financial crisis."

How the Hell are they going to fix the problem now that we're that much MORE in debt? Wasn't the point of the bailouts and stimulus bill to "fix" the problem? WHY would a SECOND STIMULUS be needed--when the auto maker bailout and first stimulus didn't do squat?

http://www.foxnews.com/politics/2009/07/13/federal-budget-deficit-tops-trillion-time/

 
Anonymous

Asked by Anonymous at 3:46 PM on Jul. 13, 2009 in Politics & Current Events

This question is closed.
Answers (23)
  • SRiveroC posted:  "


    Yep debt sucks, but you have to spend money to make money. That is the number 1 rule of economics. The economy isn't going to turn around without federal spending so what do you propose that they do?


    I"m not certain where this financial fallacy came from but you couldn't be farther from the truth!  You don't spend someone else's money to make money.  If the money wasn't there sitting in the treasury already, then its borrowed money, and we ALL know it was borrowed money.  Money that is borrowed might NOT be paid back, and might NOT be reliable. 


    Any person that has real money in this country knows that you must work and SAVE money to make money, and actually be successful.  Any other way is pure and simple DISASTER!!


    lifeasinoit

    Answer by lifeasinoit at 11:52 PM on Jul. 13, 2009

  • Follow the money. Where did it really go? That will answer your questions.
    Anonymous

    Answer by Anonymous at 3:49 PM on Jul. 13, 2009

  • pretty soon, they're going to auction off america to the highest bidder. can you say china?
    Anonymous

    Answer by Anonymous at 3:50 PM on Jul. 13, 2009

  • YES WE CAN ! ... but we didn't have to !

    My son has actually learned Mandarin as part of his professional skills (he's been a lawyer for a number of years). His firm knows which way the wind is blowing.
    waldorfmom

    Answer by waldorfmom at 3:58 PM on Jul. 13, 2009

  • Could be? Could implies it's only a possibility. Is there really anyone naive enough to think that's a could and not will?
    NotPanicking

    Answer by NotPanicking at 4:04 PM on Jul. 13, 2009

  • Could be? Could implies it's only a possibility. Is there really anyone naive enough to think that's a could and not will?


    Well, of course there are people that naive. That's how Obama got elected in the first place.

    Anonymous

    Answer by Anonymous at 4:07 PM on Jul. 13, 2009

  • WooHoo!!! Yay... go Obama!!! Yes we can!!!


    Oh wait... that's not right... Can I say "I told you so" now? What a joke.


    I love this line "President Barack Obama and other administration officials, including Treasury Secretary Timothy Geithner, have said the U.S. is committed to bringing down the deficits once the country has emerged from the current recession and financial crisis". So when will that be? I've heard some people say that the recession could last up to10 years. If that's true then how much money is Obama willing to continue to throw out there until he realizes it's not working?!

    Anonymous

    Answer by Anonymous at 4:15 PM on Jul. 13, 2009

  • Yep debt sucks, but you have to spend money to make money. That is the number 1 rule of economics. The economy isn't going to turn around without federal spending so what do you propose that they do?


    btw were you worried about the deficit prior to Jan 20 2009? Because we sure had alot of red ink, without the causation of a poor economy.

    SRiveroC

    Answer by SRiveroC at 4:36 PM on Jul. 13, 2009

  • Here's a nice little tidbit that is actually happening in a number of states. New Hampshire-400 million of stimulus money. The "saved" 50 jobs. That is a total of 8 million dollars per job with 34 of them actually being full time. Don't you think that money could have been WAYYYY more economically utilized in the private sector?? Our tax dollars at work. What a farce.
    Carpy

    Answer by Carpy at 5:36 PM on Jul. 13, 2009

  • Yep debt sucks, but you have to spend money to make money. That is the number 1 rule of economics. The economy isn't going to turn around without federal spending so what do you propose that they do?

    Yes you do have to spend it to make it. However you must be fiscally responsible. Thats where they are seriously lacking.Do the math yourself on my above post and look at the same thing in several other countries.
    Carpy

    Answer by Carpy at 5:38 PM on Jul. 13, 2009

close Cafemom Join now to connect to other members! Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN