February 14, 2011

Interest on Debt Alone Will Cost $554 Billion in 2015
— Ace

Lots of big numbers here to reinforce the oft-offered thesis that We are well and truly boned.

While some of the lowest borrowing costs on record have helped the economy recover from its worst financial crisis since the Great Depression, bond yields are now rising as growth resumes. Net interest expense will triple to an all-time high of $554 billion in 2015 from $185 billion in 2010, according to the Obama administrationÂ’s adjusted 2011 budget.

“It’s a slow train wreck coming and we all know it’s going to happen,” said Bret Barker, an interest-rate analyst at Los Angeles-based TCW Group Inc., which manages about $115 billion in assets. “It’s just a question of whether we want to deal with it. There are huge structural changes that have to go on with this economy.”

The amount of marketable U.S. government debt outstanding has risen to $8.96 trillion from $5.8 trillion at the end of 2008, according to the Treasury Department. Debt-service costs will climb to 82 percent of the $757 billion shortfall projected for 2016 from about 12 percent in last yearÂ’s deficit, according to the budget projections.

Oh, and debt now equals 100% of our economy.

President Obama projects that the gross federal debt will top $15 trillion this year, officially equalling the size of the entire U.S. economy, and will jump to nearly $21 trillion in five yearsÂ’ time.

Amid the other staggering numbers in the budget Mr. Obama sent to Congress on Monday, the debt stands out — both because Congress will need to vote to raise the debt limit later this year, and because the numbers are so large.

Mr. Obama‘s budget said 2011 will see the biggest one-year jump in debt in history, or nearly $2 trillion in a single year.

What the hell is he doing?

Posted by: Ace at 08:55 AM | Comments (149)
Post contains 321 words, total size 2 kb.

1
He's doing exactly what he said he'd do: Change America.

Posted by: Black Label Soothsayer at February 14, 2011 08:55 AM (uFokq)

2 Mr. Obama‘s budget said 2011 will see the biggest one-year jump in debt in history, or nearly $2 trillion in a single year.

UNPRECEDENTED!

Posted by: Barack obama at February 14, 2011 08:56 AM (7BU4a)

3 See you all in the camps!

Posted by: EC at February 14, 2011 08:56 AM (mAhn3)

4 ItÂ’s a slow train wreck coming and we all know itÂ’s going to happen

That's why we need to spend more on high speed rail.

Posted by: Joe Biden at February 14, 2011 08:56 AM (7BU4a)

5 Well, don't you say he's deliberately trying to weaken America, because that's just crazy talk. I don't have a counterargument, but Obama has an Ivy League law degree so he must be a good person.

Posted by: Michael Medved at February 14, 2011 08:57 AM (T0NGe)

6 This is why we need to build high speed rail, people!

Posted by: Sheriff Joe Biden, (D-Amtrak) at February 14, 2011 08:57 AM (5Rurq)

7 What is he doing? 

He's destroying one of the best and most free countries on the face of the earth.  Exactly what his goal has been from day one.  That is what he is doing.

Posted by: Geronimo at February 14, 2011 08:57 AM (dx6Sv)

8 Dude, I'm freezing spending! That's pretty fucking hard-core!

Posted by: Barky O, Smartest Man Alive at February 14, 2011 08:57 AM (lTcL2)

9
The liars and rump-swabs at Politifact are still standing by their explanation that Obama is keeping his promise that he'd halve the budget deficit by the end of his first term.

Yet he's doubled it, already.

Posted by: Black Label Soothsayer at February 14, 2011 08:58 AM (uFokq)

10 /sock off

Dammit!

My hat's off to you, Sheriff Joe #1.

Posted by: Andy at February 14, 2011 08:58 AM (5Rurq)

11 Donald Trump 1!1!1!1!11

Posted by: The guy who shouts Donald Trump at February 14, 2011 08:58 AM (le5qc)

12 Which side takes to the streets first: the boners or the bonees?

Posted by: ya2daup at February 14, 2011 08:59 AM (HmCnI)

13 Man, this is great!

I've been able to sit down for weeks at a stretch now.

Posted by: The Chicken at February 14, 2011 08:59 AM (p+mzQ)

14
but it's all good because that Mega-Ponzi Scheme, a.k.a. the indices market, is at its highest since early '08.

Posted by: Black Label Soothsayer at February 14, 2011 09:00 AM (uFokq)

15 Ross Perot 2012!

Posted by: scooter at February 14, 2011 09:00 AM (aamim)

16 Does this mean Amtrak will be getting a new set of rims?

Posted by: Fritz at February 14, 2011 09:00 AM (GwPRU)

17

Inappropriately early OT, but I'm pulling my hair out here.

(repost from dead thread below)

Hi all. Question for tech/blogger/camera types.

Can I use my 'camcorder" in the same way people use the webcams/mikes that are built into their laptops? I just got a "Kodak ZX3 Play Sport" and it seems to work fine as a camcorder (record something, upload it, edit, etc.), but I had it in my mind that I'd be able to use it for instant "Skype" sort of applications. I've been scanning the Kodak/Skype/Windows help sites but they all seem to assume I have the "embedded" webcam/mike, and their advice doesn't work. I'm not even sure if I should be using the same (USB) cable/input for "instant" as I do for regular uploading of vids.

Long question, I know. Copious Schrute bucks in return for any helpful answers. Thanks in advance.

 

Posted by: Lincolntf at February 14, 2011 09:01 AM (xMT+4)

18 Crushed glass and beeswax is NOT a lubricant.

Posted by: Clutch Cargo at February 14, 2011 09:01 AM (p+mzQ)

19

What the hell is he doing?

At some point Ockham's Razor kicks in and the simplest explanation--that his goal is to bankrupt evil capitalist "Amerika"--becomes the most likely one.

Posted by: Curmudgeon at February 14, 2011 09:01 AM (ujg0T)

20
President Inheritor

He inherited this mess, 'member?

Posted by: Black Label Soothsayer at February 14, 2011 09:01 AM (uFokq)

21 12 Which side takes to the streets first: the boners or the bonees?

Oh, I'm betting on the bonees.

And the boners should be really nervous. You know, because of the second amendment.

That's how we're different from the Middle East.

Posted by: shibumi at February 14, 2011 09:01 AM (OKZrE)

22 Does this mean Amtrak will be getting a new set of rims?

Posted by: Fritz at February 14, 2011 01:00 PM (GwPRU)

Spinners baby, spinners!

Posted by: Tami-all morons are free...please leave the square. at February 14, 2011 09:02 AM (VuLos)

23 Which side takes to the streets first: the boners or the bonees?

The bonees already did, last year, and the year before. Many times. The MFM called them racists and Obama yawned. He then pointed the Ship of State at a the biggest fucking iceberg in history and cranked the engine telegraph to Ludicrous Speed.

Posted by: Waterhouse at February 14, 2011 09:02 AM (lTcL2)

24 Thank God we have ace back!  I was so bored by the lack of new posts I went and read a thread at Foul Air and now am extremely depressed at the level of idiocy that Poppin' Fresh and AllahPander encourage.

Posted by: Captain Hate at February 14, 2011 09:02 AM (eh+ki)

25

It's okay. Michael Medved wrote an op-ed in the WSJ dispelling any notions that Obama was destroying america.

 

Posted by: Ben at February 14, 2011 09:02 AM (wuv1c)

26

What the hell is he doing?

Winning Fucking the Future.

Posted by: MWR at February 14, 2011 09:03 AM (4df7R)

27 I wish I could have debt of $15 trillion.  My life would be awesome.  I don't have any debt so I guess I'm the idiot.

Posted by: Annabelle at February 14, 2011 09:03 AM (4kxCX)

28
"It's gonna take more than a few months a year eighteen months two years to fix the mess that took 8 years to create."

Don't stop thinking about tomorrow!

We have to spend our way out of debt!

Putting American back to work!

Posted by: Black Label Soothsayer at February 14, 2011 09:03 AM (uFokq)

29 if we're 1.5 trillion over budget(as we are this year) it will only take us 9.3 years to double the national debt to 28 Trillion

Posted by: Ben at February 14, 2011 09:04 AM (wuv1c)

30 What the hell is he doing?

But he did give that world-changing Cairo speech that solved all our problems.

Posted by: Shooter McGavin at February 14, 2011 09:04 AM (kM3n4)

31 Yeah, but we will all be traveling on high speed trains and working at shovel ready jobs, or better yet, green jobs. So it has to be worth it. That and the free unicorns and skittles.

Posted by: Tigtog at February 14, 2011 09:04 AM (Q5+Og)

32
Dig up, stupid!

Posted by: Homer J Simpson at February 14, 2011 09:04 AM (lTcL2)

33 Obowbow is clearly from the Dig a Deeper Hole School of Economics.
 I just can't figure out why he won't release his transcripts, he obviously graduated Summa Cum Lousy.

Posted by: ontherocks at February 14, 2011 09:04 AM (HBqDo)

34 We can't be broke -- we still have checks left!!

Posted by: Dept of the Treasury at February 14, 2011 09:04 AM (LxXXO)

35 Obama believes he can renegotiate the terms of our debt like he did with consumers and the credit card companies, banks, etc. The problem is with our deficit we constantly need new people to purchase our debt, who would purchase it under those conditions?

Posted by: Dr Spank at February 14, 2011 09:05 AM (t60fX)

36

Long question, I know. Copious Schrute bucks in return for any helpful answers. Thanks in advance.

 

Lincolntf making a porno? I'd pay not to see that.

Posted by: Ben at February 14, 2011 09:05 AM (wuv1c)

37

What's so scary is that the numbers have gotten so big that "we, the people" will never be able to follow what congress says they're spending, what they're cutting, etc.  DC has become the monster under everyone's bed.  We have turned from the land of the free to the land of the indebted.  All Dear Leader is doing is closing the lid of the casket.

 

Posted by: Soona at February 14, 2011 09:05 AM (GABXp)

38 Well, 52%. Zero gonna grease yer ass with hope and slide the change in. Enjoy.

Posted by: maddogg at February 14, 2011 09:05 AM (OlN4e)

39 It's okay. Michael Medved wrote an op-ed in the WSJ dispelling any notions that Obama was destroying america.

Started reading it. Couldn't finish.

It had a shitload of comments for a WSJ op-ed, though. I bet there are some gems.

Posted by: Andy at February 14, 2011 09:05 AM (5Rurq)

40 I'm just putting the debt down the garbage disposal...what could go wrong?

Posted by: B. Obama at February 14, 2011 09:06 AM (XdlcF)

41

Well, 52%. Zero gonna grease yer ass with hope and slide the change in. Enjoy.

Can the 52% be put into "Financial Rape Rooms"?

Posted by: Curmudgeon at February 14, 2011 09:06 AM (ujg0T)

42

It's okay. Michael Medved wrote an op-ed in the WSJ dispelling any notions that Obama was destroying america.

Started reading it. Couldn't finish.

It had a shitload of comments for a WSJ op-ed, though. I bet there are some gems.

yeah i read the dead tree version. I hope it wasn't well received.

I know you're never supposed to attribute malice to what can be explained by stupidity, but this is stupidity on such a grand scale that there is no other explanation.

Posted by: Ben at February 14, 2011 09:07 AM (wuv1c)

43 We'll just borrow more to pay for the interest. Plus we can't stop government "investing" in things we really need cause then we'll really be in trouble. Like the NEA and home heating oil assistance for pregnant poor women.

Posted by: The Left Borg Collective at February 14, 2011 09:07 AM (IdXYY)

44

Long question, I know. Copious Schrute bucks in return for any helpful answers. Thanks in advance.

Posted by: Lincolntf at February 14, 2011 01:01 PM (xMT+4)

Google 'camcorder to webcam'. 


Posted by: Tami-all morons are free...please leave the square. at February 14, 2011 09:08 AM (VuLos)

45 What's the problem?  We can just print more money and use it to pay off the debt.  Stupid wingnuts.

Posted by: Democrat idiots everywhere at February 14, 2011 09:08 AM (SY2Kh)

46 NRO offers more numbers from Obama's '12 budget:

Obama's Spending Spree

This is scary:

$46 trillion — total spending over the next decade.

Posted by: Miss'80sBaby at February 14, 2011 09:09 AM (yfJ6g)

47
We need an update on Julio.

Remember Julio? He's that mouth-breathing hyperventilating longtime McDonald's employee and longtime junior college student.

I'll bet my leftnuttm that Julio is still in junior college and has been fired from McDonald's.

Posted by: Black Label Soothsayer at February 14, 2011 09:09 AM (uFokq)

48

So why don't we just start pawning assets to pay off the debt?

That'll solve the problem.

I would love to see Tim Geitner on Pawn Stars haggling over what he can get for Yellow Stone National Park

Posted by: Ben at February 14, 2011 09:09 AM (wuv1c)

49 What the hell is he doing?
Playing the fiddle.

Posted by: Nero at February 14, 2011 09:09 AM (xs5wK)

50 Its getting harder and harder to deny that this fuckhead ain't doint this shiton purpose.

Posted by: Mr Pink at February 14, 2011 09:09 AM (+kyil)

51 Deja what now?


President Barack Obama proposed a budget that calls on Congress to raise the taxes of the highest U.S. earners, multinational corporations and oil and gas companies, reviving revenue provisions that Congress has rejected or brushed aside before.

The budget, released today in Washington, would bring back pre-2001 tax rates on income and capital gains for individuals earning more than $200,000 annually and married couples making more than $250,000. The estate tax would return to 2009 levels with a $3.5 million per-person exemption and a 45 percent top rate. Under a law Obama signed in December, lower tax rates expire at the end of 2012.


Posted by: Laurie David's Cervix at February 14, 2011 09:10 AM (b9iP+)

52 What is he doing?

He's "fundamentally transforming the United States of America"

Posted by: aquaviva at February 14, 2011 09:10 AM (7ALF2)

53 Posted by: Ben at February 14, 2011 01:02 PM (wuv1c)

He's been spouting this nonsense for at least the last year.  At some point, you have to wonder if Medved is really conservative, or if he started doing conservative commentary because he perceived the field of competition to be smaller.

Posted by: AllenG (Dedicated Tenther) at February 14, 2011 09:10 AM (8y9MW)

54 I remember the old days, when young knuckleheads like ace reposed in the soft, dry grass of Morning In America, jerking off to pictures of Patton, while Ronnie Reagan added a trillion dollars to the national debt. Ahh, those were the days.

And where was ace, in between rendezvous with Mother, when Bush was adding trillions more to the debt? Well, ace didn't give a fuck.

Posted by: some murdered nuns in el salvador at February 14, 2011 09:10 AM (zCuyP)

55 My graphs and charts are tanned, rested, and ready to run.

Posted by: Ross Perot 3.0 at February 14, 2011 09:10 AM (AXHCj)

56 NRO: A Nation of Cowards on Entitlements

That includes some freshmen congressmen and women, who--when asked-- are unwilling to commit to general entitlement reform.

Posted by: Miss'80sBaby at February 14, 2011 09:11 AM (yfJ6g)

57 Posted by: Ben at February 14, 2011 01:07 PM (wuv1c)

You don't assume malice where stupidity will suffice.  That's true.
I don't think stupidity will suffice anymore, though.

Posted by: AllenG (Dedicated Tenther) at February 14, 2011 09:12 AM (8y9MW)

58
The rump swabs in the media are touting Obama's 'steep' cuts that will cut $1.2T over the next 10 years.

I'd love to see the details on that.

Posted by: Black Label Soothsayer at February 14, 2011 09:12 AM (uFokq)

59 H8ters be h8tin'. As usual.

Posted by: Meghan McCain at February 14, 2011 09:12 AM (t60fX)

60 Thanks for the tanks and ships, stupid Americans!

Posted by: China at February 14, 2011 09:12 AM (BP6Z1)

61 We're gonna need a bigger hole.

Posted by: Chief Barry Brody at February 14, 2011 09:12 AM (HBqDo)

62

Newsbusters:

According to a new History Channel special on Ronald Reagan, the profound economic recovery of the early '80s can be credited to "the Reagan tax increases."

Posted by: Mama AJ at February 14, 2011 09:13 AM (XdlcF)

63

I remember the old days, when young knuckleheads like ace reposed in the soft, dry grass of Morning In America, jerking off to pictures of Patton, while Ronnie Reagan added a trillion dollars to the national debt. Ahh, those were the days.

That was to defeat a Soviet Empire. Meanwhile, dupes like you were fellating Sandinista poles and guzzling down communist cum.

Posted by: Curmudgeon at February 14, 2011 09:13 AM (ujg0T)

64

Posted by: Ben at February 14, 2011 01:02 PM (wuv1c)

He's been spouting this nonsense for at least the last year.  At some point, you have to wonder if Medved is really conservative, or if he started doing conservative commentary because he perceived the field of competition to be smaller.

It's a shame, i kinda enjoy watching him when he's occasionally on CNN. He seems calm, reserved and knowledgable. However, I think he is too eager  to be "fair" and ends up overcompensating and giving too much benefit of the doubt.

While I may not be a Limbaugh type and attribute all Obama's policies to be pre-meditated attempts to destroy america, I also think it's bad to be the polar opposite  which assumes all of his policies are done with good intentions and that Obama honestly believes they will solve americas problems.

Posted by: Ben at February 14, 2011 09:13 AM (wuv1c)

65
Ace, will you 'out' eggmcmuffin, please, so we can all call his workplace and harass him like he does to us?

Posted by: Black Label Soothsayer at February 14, 2011 09:13 AM (uFokq)

66

Gee I remember the good old days under Reagan when he cut taxes and GREW us out of the deficit.

Oh, and murdered nuns, you guys shouldn't have hooked up with the godless communists and gone against the Pope. Renegade nuns aren't nuns, they're communists.

Posted by: dagny: logprof lives! at February 14, 2011 09:13 AM (l3g1A)

67 Posted by: some murdered nuns in el salvador at February 14, 2011 01:10 PM (zCuyP)

Before the rhetoric here gets sharp enough to slice, I recommend you leave.  Just sayin'.

BTW - If you don't get where debt = 100% of the US Economy is worse than debt < 100% of the US Economy, you should sue your elementary school to see if you can get your money back.

Posted by: AllenG (Dedicated Tenther) at February 14, 2011 09:13 AM (8y9MW)

68

Tami-,thanks.

Looks like I kinda bought the wrong thing. Ooops.

Posted by: Lincolntf at February 14, 2011 09:14 AM (xMT+4)

69

you have to wonder if Medved is really conservative

During the last election he and a caller got into it about this kind of stuff and he admitted he was a "small d" Democrat.  Hardly a surprise.

Posted by: Annabelle at February 14, 2011 09:14 AM (4kxCX)

70 Don't worry though people, when you turn your TV on tonight and watch the news somehow this won't be on. Instead you will be treated to fake Sarah Palin quotes and shit about Moochelle Obama's fashion sense.

Posted by: Mr Pink at February 14, 2011 09:14 AM (+kyil)

71 Can you bundle my VOIP with my smartphone plan, eggamoobymuffin?

Posted by: Waterhouse at February 14, 2011 09:15 AM (lTcL2)

72

#55, your murdered nuns were Communist agitators and got what they deserved.

Plus, you're an idiot.

Posted by: SGT Dan at February 14, 2011 09:15 AM (GgXZc)

73

So why don't we just start pawning assets to pay off the debt?

That'll solve the problem.

I remember when James Watt proposed this and the eco-Watermelons had  hissy fit. As if government mining and logging is superior to private mining and logging.

Many people, especially back East, have no idea how much of the Western states are Federally owned "public land". It's really communistic when you get down to it.

Posted by: Curmudgeon at February 14, 2011 09:15 AM (ujg0T)

74 Nuns were killed and we weren't in on it? Ridiculous!

Posted by: Muslims at February 14, 2011 09:16 AM (t60fX)

75 Boy, it's like being able to look out of the window of an airliner with two engines on fire and watching the ground get closer and closer, knowing you are about to hit the ground at 300+ mph and get instantly converted to worm food, and your foot keeps unconciously feeling for the brake pedal.....

Posted by: maddogg at February 14, 2011 09:16 AM (OlN4e)

76 And where was ace, in between rendezvous with Mother, when Bush was adding trillions more to the debt? Well, ace didn't give a fuck.

Posted by: some murdered nuns in el salvador at February 14, 2011 01:10 PM (zCuyP)

--Fuck you.

(Damn, I'm glad to be back.)

Posted by: logprof at February 14, 2011 09:16 AM (BP6Z1)

77 But we owe it to ourselves so everything's fine.

Posted by: Rocks at February 14, 2011 09:16 AM (Q1lie)

78

Posted by: some murdered nuns in el salvador at February 14, 2011 01:10 PM (zCuyP)


Fuck off, Butters.

Posted by: Dave C at February 14, 2011 09:16 AM (i3fQg)

79
Can we sell the Moon to China?

I mean, we own that, right? Sell it. Fuck it.Sell it.

Posted by: Black Label Soothsayer at February 14, 2011 09:16 AM (uFokq)

80 And of course, the idiot pilot keeps getting on the intercom to deliver empty promises.

Posted by: maddogg at February 14, 2011 09:16 AM (OlN4e)

81 Posted by: Curmudgeon at February 14, 2011 01:15 PM (ujg0T)

You know, I'm of two minds on Federally Owned land.  One part of me says they should only own the land absolutely required for actual federal purposes (federal buildings, military bases, etc.).  The other part says that would be too much, and they should have to pay rent to the State which can now no longer leverage that land.

Posted by: AllenG (Dedicated Tenther) at February 14, 2011 09:17 AM (8y9MW)

82

I also think it's bad to be the polar opposite  which assumes all of his policies are done with good intentions and that Obama honestly believes they will solve americas problems

Why?

Thinking that undercuts the media's main narrative that he's a genius. The truth is that he's a blithering idiot who doesn't care about foriegn policy or too much of domestic policy. He wants the perks of the job without doing any work, much like every other item in his "professional" history.

Posted by: The Q at February 14, 2011 09:17 AM (AXHCj)

83

#55, your murdered nuns were Communist agitators and got what they deserved.

Plus, you're an idiot.

Posted by: SGT Dan at February 14, 2011 01:15 PM (GgXZc)

The only time in history that the Pope had to show up and tell nuns to stop aiding the godless opposition and the left thinks they're martyred. Idiots.

Posted by: dagny: logprof lives! at February 14, 2011 09:17 AM (l3g1A)

84 Rpublcns hv dn mr t ncrs th dbt thn nyn. t's jst n mprcl fct. Thy spnd nd spnd, nd sy sht lk "dfcts dn't mttr" nd thn ct txs t jstfy spndng cts n th knds f prgrms tht enft ppl wh rn't rch. nd thn s sn s thr s Dmcrtca dmnstrtn, thn, thy g ll Hnny-Pnny n th dbt

c s fckng hck hypcrt.

Posted by: some murdered nuns in el salvador at February 14, 2011 09:17 AM (zCuyP)

85

So why don't we just start pawning assets to pay off the debt?

That'll solve the problem.

I remember when James Watt proposed this and the eco-Watermelons had  hissy fit. As if government mining and logging is superior to private mining and logging.

Many people, especially back East, have no idea how much of the Western states are Federally owned "public land". It's really communistic when you get down to it.

 

I believe Utah is 60% owned by the federal government

Posted by: Ben at February 14, 2011 09:18 AM (wuv1c)

86 What the hell is he doing? Shock and Awe, baby. Shock and Awe.

Posted by: Comrade Arthur at February 14, 2011 09:18 AM (skymQ)

87 Erg, why don't you enlighten us with how many years it's been since Reagan was in office, genius?  And if you listen closely at night, you can hear those gun-running "nuns" that you claim to care about, screaming in Hell from getting their assholes shredded by Satan's barbed cock, you ignorant fuckstick.

Posted by: Captain Hate at February 14, 2011 09:18 AM (eh+ki)

88 To sum up erg's argument - Reagan and Bush's deficit spending was awful, but Obama's is awesome because it's ten times worse.

I sure hope your telemarketing skills exceed your math abilities, dipshit.

Posted by: Waterhouse at February 14, 2011 09:18 AM (lTcL2)

89

Free logprof!

. . .

Never mind.

Posted by: Emily Latella at February 14, 2011 09:18 AM (AXHCj)

90 75 Nuns were killed and we weren't in on it? Ridiculous!

Posted by: Muslims at February 14, 2011 01:16 PM (t60fX)

They were aiding and abetting murderous communists so you muslims would have at least appreciated their non-western statist sensibilities before you raped them and stoned them to death.

Posted by: dagny: logprof lives! at February 14, 2011 09:19 AM (l3g1A)

91 Don't be hating When Obama be stimulating Get some Obama education You will learn spending your money is his masterbation

Posted by: Will I Am at February 14, 2011 09:19 AM (+kyil)

92

Hopin' for some change....

 

Brother, can you spare a dime?

Posted by: mark x at February 14, 2011 09:19 AM (plLN9)

93
  It struck me, reading the troll's post, that it's a very good thing breathing is involuntary.  Leaves more time for the "dressing oneself" problem.

Posted by: irongrampa at February 14, 2011 09:20 AM (ud5dN)

94 They spend and spend, and say shit like "deficits don't matter" and then cut taxes to justify spending cuts

How fucking deranged do you have to be to contradict yourself so fundamentally ... in a single sentence?

Posted by: Waterhouse at February 14, 2011 09:20 AM (lTcL2)

95

 Republicans have done more to increase the debt than anyone. It's just an empirical fact. They spend and spend, and say shit like "deficits don't matter" and then cut taxes to justify spending cuts in the kinds of programs that benefit people who aren't rich. And then as soon as there is a Democratic administration, then, they go all Henny-Penny on the debt

You went to far to be believable - is that you navycop joe?

Posted by: Roadking at February 14, 2011 09:20 AM (g9G+e)

96

Republicans have done more to increase the debt than anyone. It's just an empirical fact. They spend and spend, and say shit like "deficits don't matter" and then cut taxes to justify spending cuts in the kinds of programs that benefit people who aren't rich. And then as soon as there is a Democratic administration, then, they go all Henny-Penny on the debt

Let's see, who controlled congress from 1954 to 1994? And again in 2006-2010?

Where does spending come from? The Presidency or the Legislative branch?

 

Either the Republicans spend a fortune in 1996-2006 or the Democrats are just as, if not more, culpable for our debt

Posted by: Ben at February 14, 2011 09:20 AM (wuv1c)

97 Under the budgetÂ’s assumptions, federal revenue as a percent of the economy would increase from 14.9 percent in 2010 to 20 percent in 2021.



Success, Comrades!

Posted by: Laurie David's Cervix at February 14, 2011 09:21 AM (b9iP+)

98 Ace is a fucking hack hypocrite.

Posted by: some murdered nuns in el salvador at February 14, 2011 01:17 PM (zCuyP)

Are you not entertained?

Posted by: White House Clown College® at February 14, 2011 09:21 AM (BP6Z1)

99
My investment program into semi-precious metals like copper, brass and lead continues apace.

Posted by: IllTemperedCur at February 14, 2011 09:22 AM (TAjuH)

100

"Can we sell the Moon to China?
I mean, we own that, right? Sell it. Fuck it.Sell it."

No we can't, it is owned by the Romulans. Its actually a well camoflaged death star.

Posted by: Tigtog at February 14, 2011 09:22 AM (Q5+Og)

101 Well you know how it is, never let a good crisis go to waste, eh?  Unqualified, incompetent '60s-reject asshats.

We'll see how smart these people look when an alternative reserve currency pops up and the dollar is massively devalued overnight.  And they wonder why we bought so much ammo ... it's going to be like a Zombie movie here within a few years.

BTW, did you know that the Bancor being floated by the IMF was conceived by John Maynard Keynes?  As if these unAmerican lefty cockholsters won't jump on that train ....

Posted by: Thinking Things Over at February 14, 2011 09:23 AM (8/DeP)

102 Obama be spendingggggggggg Fences and roads he be mending Bridges and high speed rail! Pay your health tax or go to jail!

Posted by: Will I Am at February 14, 2011 09:23 AM (+kyil)

103 Obama has added more to the deficit in his 1st 2 years in office than Reagan did in 8 years.

Posted by: Dr Spank at February 14, 2011 09:24 AM (t60fX)

104

I believe Utah is 60% owned by the federal government

California is at about 50%, and it is the *least* federally owned state west of the 100th meridian.

Nevada and Alaska are 95% plus.

Posted by: Curmudgeon at February 14, 2011 09:25 AM (ujg0T)

105 I drive Priuses
(Mwah)
That puts them blogs on rock, rock
And they be lininÂ’ down the block
Just to laugh at what I got
Four, tres, two, uno

My footprint stay judicious
I be down in the basement

Just workinÂ’ on my witless
He's my witness
(Ooh wee)

I put yo' blog on rock rock
And they be lininÂ’ down the block
Just to laugh at what I got
(Four, tres, two, uno)

So pernicious
(Ay, ay, ay, ay)
So pernicious
(Ay, ay, ay, ay)
So pernicious
(Ay, ay, ay, ay)
I'm Ergalicious, c-c-crazy, crazy

Posted by: ergie at February 14, 2011 09:25 AM (BP6Z1)

106

Obama has added more to the deficit in his 1st 2 years in office than Reagan Bush the Elder and Bush the Younger *combined* did in 8 years.

I had to fix that.

Posted by: Curmudgeon at February 14, 2011 09:26 AM (ujg0T)

107 Strike anyone?

Posted by: John Galt at February 14, 2011 09:28 AM (xs5wK)

108 President Obama's budget proposes $989 billion in new taxes over the course of the next 10 years, starting fiscal year 2011, most of which are tax increases on individuals.

1) On people making more than $250,000.

$338 billion - Bush tax cuts expire
$179 billlion - eliminate itemized deduction
$118 billion - capital gains tax hike

Total: $636 billion/10 years

2) Businesses:

$17 billion - Reinstate Superfund taxes
$24 billion - tax carried-interest as income
$5 billion - codify "economic substance doctrine"
$61 billion - repeal LIFO
$210 billion - international enforcement, reform deferral, other tax reform
$4 billion - information reporting for rental payments
$5.3 billion - excise tax on Gulf of Mexico oil and gas
$3.4 billion - repeal expensing of tangible drilling costs
$62 million - repeal deduction for tertiary injectants
$49 million - repeal passive loss exception for working interests in oil and natural gas properties
$13 billion - repeal manufacturing tax deduction for oil and natural gas companies
$1 billion - increase to 7 years geological and geophysical amortization period for independent producers
$882 million - eliminate advanced earned income tax credit

Total: $353 billion/10 years

ABCNews




Posted by: Laurie David's Cervix at February 14, 2011 09:28 AM (b9iP+)

109

"What the hell is he doing?"

I think it's plainly obvious.

Just examine a few countries in the shitholes of central America for reference.

You elect a thug commie, you get a thug commie.

Posted by: Rev Dr E Buzz at February 14, 2011 09:28 AM (tcSZb)

110 I missed the "some murdered nuns" == "erg" connection. Is this a troll of long standing?

Posted by: ya2daup at February 14, 2011 09:29 AM (HmCnI)

111 We will be lucky if the interest payments only reach 550 Billion by 2015. Somebody needs to replay on an infinite loop candidate Obama's "long term deficits reduce economic growth" when he was talking about $250 billion deficits.

Posted by: Dr. Heinz Doofensmirtz at February 14, 2011 09:29 AM (4kEsK)

112 What the hell is he doing? Cloward-Pivens.

Posted by: Dave R. at February 14, 2011 09:29 AM (cd8va)

113 Republicans have done more to increase the debt than anyone.

Obama, Pelosi, and Reid  increased the deficit by a factor of 6.

And they are about to fight tooth and nail to keep that level of spending.

Last I checked they are (D)s.

Posted by: 18-1 at February 14, 2011 09:30 AM (7BU4a)

114

Posted by: some murdered nuns in el salvador at February 14, 2011 01:17 PM (zCuyP)

 

Shut the fuck up.  Go back to the gutter that you were laying in a while ago.  Here.  Here's a half-full bottle of Thunderbird.  Just get the fuck away. 

Posted by: Soona at February 14, 2011 09:30 AM (GABXp)

115 Some people just like to watch the world burn.

Posted by: Alfred Pennyworth at February 14, 2011 09:30 AM (T0NGe)

116 To sum up erg's argument - Reagan and Bush's deficit spending was awful, but Obama's is awesome because it's ten times worse.

Ahmm...10 times better!

Posted by: The State Media at February 14, 2011 09:31 AM (7BU4a)

117 What's Obama doing?  Rhetorical question, eh?

He's trying to ruin the nation so that it can be 'transformed'. 

No 'side benefits' here, for you Poli Sci majors:  Either he fails or we fail

Posted by: SantaRosaStan, ground-pounder at February 14, 2011 09:31 AM (UqKQV)

118 I missed the "some murdered nuns" == "erg" connection. Is this a troll of long standing?

Posted by: ya2daup at February 14, 2011 01:29 PM (HmCnI)

Affirmative; it's very fond of using the phrase "knucklehead" and of addressing ace personally.

Posted by: CSI AoS at February 14, 2011 09:31 AM (eh+ki)

119

 you raped them and stoned them to death.

Posted by: dagny: logprof lives! at February 14, 2011 01:19 PM (l3g1A)

Oh, I do so love Wednesdays!

Posted by: Some Jihadi at February 14, 2011 09:32 AM (7BU4a)

120 Complaining about W's profligate spending at this point would be like Walmart attributing a 10% stock value loss to a kid who stole some gum in Sheboygan, WI.

Posted by: AmishDude at February 14, 2011 09:32 AM (T0NGe)

121 Ace is a fucking hack hypocrite.
Posted by: some murdered nuns in el salvador at February 14, 2011 01:17 PM (zCuyP)

A man double posts his own blog a few hundred times and you people just can't let it go can you?

Posted by: 18-1 at February 14, 2011 09:33 AM (7BU4a)

122 What the hell is he doing?


You can't be seriously asking this? He's dismantling the economy and replacing it with full on socialism. Duh.

Posted by: Unclefacts, Confuse A Cat, Ltd at February 14, 2011 09:33 AM (eCAn3)

123 Complaining about W's profligate spending at this point would be like Walmart attributing a 10% stock value loss to a kid who stole some gum in Sheboygan, WI.

Posted by: AmishDude at February 14, 2011 01:32 PM (T0NGe)

He was a teabagger wasn't he?

I smell a scoop!

Posted by: The State Media at February 14, 2011 09:34 AM (7BU4a)

124 ummm, what about us?

You elect a POS, you get shit  (  What else could one expect ?? )

Posted by: thousands of murdered nums and priests in China and the former USSR at February 14, 2011 09:34 AM (UqKQV)

125 He's dismantling the economy and replacing it with full on socialism. Duh.

That isn't true.

He has no plan.  The former is true, but the latter...he doesn't care what is wrought.

He is a man seething with hatred and bent on revenge.

Posted by: AmishDude at February 14, 2011 09:35 AM (T0NGe)

126 Erg change your tampon. It has clearly produced an infection and gone straight to the memory retention portion of your brain.

Posted by: Wonkish Rogue at February 14, 2011 09:36 AM (IdXYY)

127 no one on the Left can define me

Posted by: "an empirical fact", bitches at February 14, 2011 09:36 AM (UqKQV)

128 I know what the hell he's doing.

Posted by: crack whore with a credit card at February 14, 2011 09:37 AM (wAQA5)

129 He has no plan.  The former is true, but the latter...he doesn't care what is wrought.

He is a man seething with hatred and bent on revenge.

Posted by: AmishDude at February 14, 2011 01:35 PM (T0NGe)

 

You've got it.  He doesn't care what the government looks like afterwards as long as he is able to destroy this nation.  It's going to be a long two years (if we've got that long). 

Posted by: Soona at February 14, 2011 09:39 AM (GABXp)

130 no one on the Left can define me

Posted by: "an empirical fact", bitches at February 14, 2011 01:36 PM (UqKQV)

True. Though I question the right's God fixation as well.

Posted by: Ayn Rand at February 14, 2011 09:42 AM (xs5wK)

131 A man double posts his own blog a few hundred times and you people just can't let it go can you?

Posted by: 18-1 at February 14, 2011 01:33 PM (7BU4a)


that's a feature.

Posted by: Unclefacts, Confuse A Cat, Ltd at February 14, 2011 09:43 AM (eCAn3)

132 #132 "... will 0bama order our troops to fire upon U.S. citizens to protect his regime? If so, will they do it?"

He will not, because he knows they will not.

Posted by: jwb7605 at February 14, 2011 09:43 AM (Qxe/p)

133
That isn't true.

He has no plan.  The former is true, but the latter...he doesn't care what is wrought.

He is a man seething with hatred and bent on revenge.

Posted by: AmishDude at February 14, 2011 01:35 PM (T0NGe)


I don't think that's his plan at all. Oh, I agree he's a nasty little piece of business with a father instilled hatred for this country as it was founded, but everything I've seen out of the bastard points at governmental takeover of as many parts of the country as possible. With him and his cabal of halfwitted commited maoist assholes in power.

Posted by: Unclefacts, Confuse A Cat, Ltd at February 14, 2011 09:45 AM (eCAn3)

134 The decision has already been made:  Hello Weimar.

Posted by: toby928™ at February 14, 2011 09:47 AM (GTbGH)

135

What is annoying is the wailin gof the Leslie Stahl's of the world about horrible spending cuts.

They never seem to wonder how spending increases will affect the economy.

Never...

And because of this failure, we have spent trillions on jackshit nothing and ruined millions of lives with stupid imbecilic economics.

Posted by: Rev Dr E Buzz at February 14, 2011 09:48 AM (tcSZb)

136 will 0bama order our troops to fire upon U.S. citizens to protect his regime? If so, will they do it?

Posted by: Mitchell at February 14, 2011 01:39 PM (BvNzB)


doubt it, our military is us.

Posted by: Unclefacts, Confuse A Cat, Ltd at February 14, 2011 09:48 AM (eCAn3)

137

I don't know if someone already mentioned it (though I'm sure it's been done) but we can expect bill and note yields to explode (as that is what printing money always leads to) which could bring us back to 1980 yields ... which are about 2 or 3 times as much as they are now - and in fact we can expect much worse, since things are really screwed up, monetarily, this time - which means that our debt service could easily take up EVERYTHING in the federal budget.  Easily.  especially since our national debt is skewed more to the short end, now, than it ever has been before ... which means that we get hit with the rising interest costs that much harder and that much more quickly.

This is a time bomb that will only be solved with a default ... eventually.

That is, unless we grow out of this, which is possible, but not with the Indonesian or so many of the leftwing lunatics in Washington.  With them, death is pretty much assured.

Posted by: Henry Harold Humphries - you can call me 'H' at February 14, 2011 09:49 AM (Ikk5M)

138 I blame it on unscrupulous pay day lenders.

Posted by: rockhead at February 14, 2011 09:57 AM (RykTt)

139 ergie, you mean like when Bush blew the deficit all the way up to $400 billion? As opposed to $1.65 TRillion and growing?

Posted by: ace at February 14, 2011 09:58 AM (nj1bB)

140

Remember.

If you ask any hard questions about what ol Barry is doing...

Yep, you're being a racist white scumbag.

Doncha love how all the content of the mass media, tv shows, books, college courses just seem to align themselves with this concept, that any criticism of a black Pres is racist...

Just go figure that one out...yep, a mystery.

Posted by: Rev Dr E Buzz at February 14, 2011 09:58 AM (tcSZb)

141 you mean like when Bush blew the deficit all the way up to $400 billion?

As opposed to $1.65 TRillion and growing?

And, if I recall correctly, a whoooooole lot of us racist right-wing nutbars stopped voting for the GOP around that time, giving the pursestrings to Nanzi and her pals, and we see what happened at that point.  So it wasn't that we didn't care about overspending when our supposed party did it, it's that erg's side was just magnitudes worse on that subject.

Who's the fucking hypocrite, erg?

Posted by: nickless has left the banned at February 14, 2011 10:01 AM (MMC8r)

142 Welcome back nickless!

[high-fives]

Posted by: logprof at February 14, 2011 10:03 AM (BP6Z1)

143 Uh, umm, perhaps you haven't met my new OMB director, uh, George W. Bush?  Yeah, that's the ticket...

Posted by: Barack Obama at February 14, 2011 10:05 AM (YsFN3)

144 Buh-Buh-Buh Boned...Buh-Buh-Buh Boned

Posted by: Beethoven's Fifth Boning at February 14, 2011 10:05 AM (jmf9+)

145

What the hell is he doing?

Why, "investing", of course...   ;-)

Silly Rabbit!

Posted by: Optimizer at February 14, 2011 10:09 AM (2lTU+)

146 Boned.

Posted by: that guy that always thinks we're boned at February 14, 2011 10:16 AM (GTbGH)

147

I am going to the bank and see if they will loan me a paltry 500 billion so I can invest my way to wealth.

I hope my savings of $50 and signature will cover, because this is a too big to fail kinda idea.

Posted by: leperous at February 14, 2011 11:07 AM (Q6qGS)

148 What is he doing? He is taking revenge on the country his mother hated. He is avenging, pure and simple.

This is what happens when an hard-left, anti-American traitor seizes power.

Americans are his enemies. He wants us to suffer.

Posted by: Clubber Lang at February 14, 2011 11:25 AM (BXqkH)

149 thanks for sharing

Posted by: altýn çilek at February 17, 2011 02:48 AM (x1bDn)

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