I think we are ALL in trouble

[PittsburghPlayer]

I see most of you men have a clue as to what is happening around us. May I sing a song? If you said yes, it would be Pat Travers, Crash and Burn.

[BigdaddyQH]

The fact of the matter is that most economies are in as bad a shape as ours is. Money is easily attainable. All the government needs to do is just print up more money when they need it. We own China Trillions, but how are they going to collect? Take us to Small Claims Court? Invade us? Break our arms and legs? The major problem is not that we are spending money, but that the government is trying to put people out of business and run the entire show themselves. Now Obama wants to help the small businessman in the way of tax credits, but that does not put the needed money in their pockets to start a business to begin with. It will do the small businessman no good to get a tax break if he can not start his business to begin with. You have to be able to start the engine before you can drive the car.

[Fishhead]

Credit is drying up for the majority of Americans.

Yes, we are screwed.

[Cappy]

it certainly looks like it's still going to get worse before it gets any better

[FishFace5]

if you started counting now. It would take about 30,000 years to count to a trillion at 1 # a second.
...............dats a big #

[johncrud]

I lend a white buddy of mines 100 bucks couple of weeks ago and I haven't heard from him since... He had all of his contacts cut off from me. I hope he is doing well financial for survival.

[BigdaddyQH]

I lend a white buddy of mines 100 bucks couple of weeks ago and I haven't heard from him since... He had all of his contacts cut off from me. I hope he is doing well financial for survival.

What difference does his color make? What point are you trying to make? Are you someone other than a white male?

[Indecent]

What difference does his color make? What point are you trying to make? Are you someone other than a white male?

You bring race into issues where it doesn't belong all the time.

[johncrud]

All I am saying is that he has a debt that he owed me.. I tried to make arrangements with him so that he can pay off a partial principle + interest per month until the entire debt is paid off. Next thing I knew is that he cut off his contact with me..

[Busterflywheel]

The fact of the matter is that most economies are in as bad a shape as ours is. Money is easily attainable. All the government needs to do is just print up more money when they need it. We own China Trillions, but how are they going to collect? Take us to Small Claims Court? Invade us? Break our arms and legs? The major problem is not that we are spending money, but that the government is trying to put people out of business and run the entire show themselves. Now Obama wants to help the small businessman in the way of tax credits, but that does not put the needed money in their pockets to start a business to begin with. It will do the small businessman no good to get a tax break if he can not start his business to begin with. You have to be able to start the engine before you can drive the car.

You are correct in what you speak. There is a bigger picture to all the control. It seems you may understand that.

[ezmoney]

Just pick WINNERS, don't worry about BARACK!!!

Enjoy life, go to a strip club, go fishing, take in a ball game. Why worry????

EZ

[dmtrader]

I agree with SBR John in diversifying your portfolio internationally, but most of the posters here should not be buying currencies. U.S. economic growth will stagnate for a few years. Japan, and most of European economies are in gridlock (thanks Dunder for your post on that), so no help there.

IMO, if you can, diversify your career. Work for a company that is making inroads into developing economies, like China (the bubble there will burst this year, but their GDP will still grow at 3-5%), India, Indonesia, Vietnam, etc. Make sure your career, which is your main source of income and growth, is not in a stale industry that only provides goods and services provincially.

[jlgarciaiii22]

this aint on obama. no way, this is all bush

That's what evrybody seems to forget or doesn't want to admit... That sneeky Vuck Bush got us in this mess! While he lined his bank account with profits from the war!

[infamousbacardi]

That's what evrybody seems to forget or doesn't want to admit... That sneeky Vuck Bush got us in this mess! While he lined his bank account with profits from the war!

Why do you liberal tool bags forget who controlled Congress the last 2 years of Bush's Presidency???

[Dunder]

Why do you liberal tool bags forget who controlled Congress the last 2 years of Bush's Presidency???

This is not a party political issue.

[Willie Bee]

Why do you liberal tool bags forget who controlled Congress the last 2 years of Bush's Presidency???

Probably the same reason that right-wing morons tend to forget who controlled Congress the 12 years before that.

[infamousbacardi]

Probably the same reason that right-wing morons tend to forget who controlled Congress the 12 years before that.

Controlled...but to what extent Willie?? There is clearly a difference between having 55-60 votes, and 51-53. Surely, any level of educated man could tell the difference.

[infamousbacardi]

Dunder...the graph is quite interesting...basically, the conclusion is that every President since Nixon has contributed to a massive increase in debt...so the question then begs, why, no matter who is in office...has the debt of the country sky-rocketed??

[infamousbacardi]

And Willie...you mean, the 12 years before that, while the economy was booming under Clinton during the dot.com era???

[Willie Bee]

And Willie...you mean, the 12 years before that, while the economy was booming under Clinton during the dot.com era???

Wow, Clinton was in office all 12 of those years? Who knew? I always thought that half of those years were when Shrub was in the White House. My mistake.

In all seriousness, what I really meant was if you think this is all the result of either party and not the result of both the donkeys and elephants, then the old phrase we used to recite back in grade school to learn our Spanish vowels comes quickly to mind: A-E-I-O-U, el burro sabe mas que tu

[infamousbacardi]

Wow, Clinton was in office all 12 of those years? Who knew? I always thought that half of those years were when Shrub was in the White House. My mistake. In all seriousness, what I really meant was if you think this is all the result of either party and not the result of both the donkeys and elephants, then the old phrase we used to recite back in grade school to learn our Spanish vowels comes quickly to mind: A-E-I-O-U, el burro sabe mas que tu

Willie...you're better than to attack such a small assertion in someones post. Clearly, he wasn't President all 12 years...but the economy was booming at any rate.
I do agree with what you're saying though Willie...clearly, the graph Dunder gave was very true of your closing sentiment. Every President since Nixon has increased the debt...so, how does it change from here, and who will be the one to do it?
This is, assuming it's a bad thing...it is clearly a bad thing at the rate at which it is growing...and eventually, this trend has to go backwards, if not until it gets within reason.

[Willie Bee]

so, how does it change from here, and who will be the one to do it?

Put my wife in charge. She's a master at keeping our debt as close to zero as possible. She would lock Congress in session until they got it figured out and feed them nothing but pasta fagioli like she and I ate for a month one time to pay off one of her credit cards.

[Dunder]

Dunder...the graph is quite interesting...basically, the conclusion is that every President since Nixon has contributed to a massive increase in debt...so the question then begs, why, no matter who is in office...has the debt of the country sky-rocketed??

Yes but with a few buts. Simple dollar figures can be quite misleading. The true measure of debt is really that as a proportion of GNP/GDP but the result is pretty much the same.

All of the major western democracies have seen public debt increase massively over the last 30 years.

[PittsburghPlayer]

In all seriousness, what I really meant was if you think this is all the result of either party and not the result of both the donkeys and elephants, then the old phrase we used to recite back in grade school to learn our Spanish vowels comes quickly to mind: A-E-I-O-U, el burro sabe mas que tu

I will second that, if I may.

[DwightShrute]

Another 1.6 Trillion dollars going to be borrowed this year. And 1 trillion a year from here until 2019.

How can this not lead to some terrible consequences ?

The deficit was like 2 trillion dollars 10 years ago, and now its over 12 trillion.

I think this is going to end bad.

[THEGREAT30]

Phuck politics, they are for the weak, if I were a democrat in congress that has been elected by people and part of the overwhelming majority, 59 to 41 percent, I would not give a phuck about any opinion of the sour bullshitty republicans, on the streets, in the prisons, majority rules, you get beaten to a pulp, politics are for the weak, good day.

[Wheell]

To blame either party (or any individual) misses the point and obscures the true difficulties we face.

If you are interested in a history of the budget, check out Mirage by George Hager. It is a bit out of date, but it gives an excellent review from the late 70's up through 1997.

http://www.amazon.com/Mirage-Neither-Democrats-Republicans-Balance/dp/0812924525

For a more updated take on the situation check out Comeback America by David Walker.

http://www.amazon.com/Comeback-America-Turning-Restoring-Responsibility/dp/1400068606/ref=sr_1_1?ie=UTF8&s=books&qid=1265054202&sr=8-1

For a good look at economics in general check out Naked Economics by Charles Wheeler

http://www.amazon.com/Naked-Economics-Undressing-Dismal-Science/dp/0393324869/ref=sr_1_1?ie=UTF8&s=books&qid=1265147944&sr=1-1

for some more advanced reading check out Free Trade Doesn't Work by Ian Fletcher

http://www.amazon.com/gp/product/0578042118/ref=pd_lpo_k2_dp_sr_1?pf_rd_p=486539851&pf_rd_s=lpo-top-stripe-1&pf_rd_t=201&pf_rd_i=0578048205&pf_rd_m=ATVPDKIKX0DER&pf_rd_r=1QSSP7C62YAEFNRVK5PA

.
Lastly, if you are interested in future changes to the economy you should check out The Lights in the Tunnel by Martin Ford.

http://www.amazon.com/exec/obidos/tg/detail/-/1448659817/ref=ord_cart_shr?_encoding=UTF8&m=ATVPDKIKX0DER&v=glance

Things are obviously bad, and less obviously getting worse. That's just the way it is.

[Wheell]

I also recommend checking out http://www.calculatedriskblog.com/ and http://market-ticker.denninger.net/

[whatsgood5]

How the hell can you possibly pay this much back?

[andywend]

People should NOT be allowed to walk away from their homes just because they are underwater on their mortgage.

When home prices were escalating, people were more than happy to flip houses and refinance their homes lining their pockets with easy money.

When the tide turns and housing prices go down, the Obama administration is almost encouraging people to default on their mortgages.

The laws need to be changed so housing lenders can get quick judgements against people who walk away from their responsibilites. Once the judgement is in place, these people who walked away should have a percentage of their wages garnished until their responsibilites are satisfied.

Personal responsibility no longer exists.

Dunder, in regards to your graph, I'm not sure why you made the comparison of presidents and our country's debt.

The president is NOT the individual who controls our country's purse strings. Congress has that honor so a more representative comparison would be to show what has happened to our country's debt based on which party controls congress and NOT which party controls the White House.

If you make this comparison, its easy to see which party is more responsible for our country's massive deficits.

With that being said, there was no excuse for how the republicans acted from 2001-2006 which is why they were SHOWN THE DOOR at the polls in 2006 and again in 2008.

However, I was extremely confident that the democrats would try to push through their socialized medicine agenda the day Obama took office and they didn't disappoint. They made the EXACT SAME MISTAKE 15 years ago and apparently history taught them nothing.

The dems are going to get absolutely crushed in the upcoming mid-terms and hopefully we will have split power once again in the federal government with the republicans taking back control of the house.

The only protection people have from the politicians is when neither party is given full control of the federal government. The last 6 years of the Clinton adminstration were a testament to this.

[Hotdiggity11]

• 2011 United States federal budget - $3.83 trillion (submitted 2010 by President Obama)
• 2010 United States federal budget - $3.55 trillion (submitted 2009 by President Obama)
• 2009 United States federal budget - $3.10 trillion (submitted 2008 by President Bush)
• 2008 United States federal budget - $2.90 trillion (submitted 2007 by President Bush)
• 2007 United States federal budget - $2.77 trillion (submitted 2006 by President Bush)
• 2006 United States federal budget - $2.7 trillion (submitted 2005 by President Bush)
• 2005 United States federal budget - $2.4 trillion (submitted 2004 by President Bush)
• 2004 United States federal budget - $2.3 trillion (submitted 2003 by President Bush)
• 2003 United States federal budget - $2.2 trillion (submitted 2002 by President Bush)
• 2002 United States federal budget - $2.0 trillion (submitted 2001 by President Bush)
• 2001 United States federal budget - $1.9 trillion (submitted 2000 by President Clinton)
• 2000 United States federal budget - $1.8 trillion (submitted 1999 by President Clinton)
• 1999 United States federal budget - $1.7 trillion (submitted 1998 by President Clinton)
• 1998 United States federal budget - $1.7 trillion (submitted 1997 by President Clinton)
• 1997 United States federal budget - $1.63 trillion (submitted 1996 by President Clinton)
• 1996 United States federal budget - $1.6 trillion (submitted 1995 by President Clinton)

Anyone who thinks it is a party issue is a hack.

[crownontheground]

short treasuries go long gold booyah

[PittsburghPlayer]

The Great30, did you write this knowing? "I would not give a phuck about any opinion of the Sour Bullshitty Republicans", You have big balls man!! just fukkin with Ya! For the thread, check out that Pat Travers tune Crash and Burn or the lyrics. Really is about where we are now.

[ericc]

the good thing is it can't be any worse that Germany in 1944... I think?????

[Mr. Peepers]

As JD said, Bling Bling, money aint a thing