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Qtec
02-16-2011, 11:51 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Obama budget plan shows interest owed on national debt quadrupling in next decade

By Steven Mufson
Washington Post Staff Writer
Wednesday, February 16, 2011; 8:59 PM

Interest payments on the national debt will quadruple in the next decade and every man, woman and child in the United States will be paying more than $2,500 a year to cover for the nation's past profligacy, according to figures in President Obama's new budget plan.

<span style='font-size: 14pt'>Starting in 2014, net interest payments will surpass the amount spent on education, transportation, energy and all other discretionary programs outside defense. In 2018, they will outstrip Medicare spending.</span> Only the amounts spent on defense and Social Security would remain bigger under the president's plan.

The soaring bill for interest payments is one of the biggest obstacles to balancing the federal budget, pushing the White House and Congress to come up with cuts deeper than previously imagined. Unlike with discretionary spending or even entitlement programs, the line item for interest payments cannot be altered except through other budget cuts.

The phenomenon is a bit like running up the down escalator. <span style='font-size: 14pt'><u>Without interest payments,</u> the president's plan would balance the budget by 2017. But net interest payments that year are expected to reach $627 billion, up from $207 billion in the current fiscal year.</span>

"This goes to the heart of why we have to address our fiscal problems," said Mark Zandi, co-founder and chief economist at Moody's Economy.com. "If we don't, we're going to get swamped by our interest payments." </div></div>

Obama is the one burdened to pay off the crippling Reagan and GW Bush debt and the republicans have the nerve to complain about govt spending too much!

Q link (http://www.washingtonpost.com/wp-dyn/content/article/2011/02/16/AR2011021606897_pf.html)

Gayle in MD
02-17-2011, 02:30 AM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: Qtec</div><div class="ubbcode-body"> <div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Obama budget plan shows interest owed on national debt quadrupling in next decade

By Steven Mufson
Washington Post Staff Writer
Wednesday, February 16, 2011; 8:59 PM

Interest payments on the national debt will quadruple in the next decade and every man, woman and child in the United States will be paying more than $2,500 a year to cover for the nation's past profligacy, according to figures in President Obama's new budget plan.

<span style='font-size: 14pt'>Starting in 2014, net interest payments will surpass the amount spent on education, transportation, energy and all other discretionary programs outside defense. In 2018, they will outstrip Medicare spending.</span> Only the amounts spent on defense and Social Security would remain bigger under the president's plan.

The soaring bill for interest payments is one of the biggest obstacles to balancing the federal budget, pushing the White House and Congress to come up with cuts deeper than previously imagined. Unlike with discretionary spending or even entitlement programs, the line item for interest payments cannot be altered except through other budget cuts.

The phenomenon is a bit like running up the down escalator. <span style='font-size: 14pt'><u>Without interest payments,</u> the president's plan would balance the budget by 2017. But net interest payments that year are expected to reach $627 billion, up from $207 billion in the current fiscal year.</span>

"This goes to the heart of why we have to address our fiscal problems," said Mark Zandi, co-founder and chief economist at Moody's Economy.com. "If we don't, we're going to get swamped by our interest payments." </div></div>

Obama is the one burdened to pay off the crippling Reagan and GW Bush debt and the republicans have the nerve to complain about govt spending too much!

Q link (http://www.washingtonpost.com/wp-dyn/content/article/2011/02/16/AR2011021606897_pf.html) </div></div>

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">
Obama is the one burdened to pay off the crippling Reagan and GW Bush debt and the republicans have the nerve to complain about govt spending too much!

</div></div>

And, as we write, there are moves by Republicans in Washington D.C., and through their Republican governorship collusion across this country, to throw both Federal Government and state workers into unempolyment, further damaging the recovery, and some Republican Governors threatening to ban unions in their states!

These are the Strict Constitionalists? What a crock!

Sad part, their supporters are so dumb, they are cheering from the sidelines, as Repubs cut jobs, and continue to destroy the Middle Class, AND the recovery.

Their plan is to make things as bad as they can for political purposes, it's going to backfire in their faces, because as is proven through history, ONLY the Democratics, will protect the Middle Class, and Republicans will so destablize this country, to try to win the White House, even the idiots are going to start to wake up as they see the results of Republican's hate filled attacks on Federal Workers, Teachers, and Unions, up close and personal, in their own neighborhoods.

Boehner, proud to throw a million people onto the unemployment rolls? Then say's, "So be it!"

That should give Americans a pretty good idea of how much he cares about people having jobs. What a disgrace! Imagine if nancy said something like that!

Gee, what happened to the Republican mantra?????

Jobs, Jobs, where are the Jobs??? While they vote against everything that would create jobs?

So far not a word or policy statement, about job creation. It's the job creation, that Republicans have been blocking all along.

They are hell bent, to bring back the brink of Bush Depression.

This is the most damaging, morally corrupt and irresponsible bunch of politicians I have seen so far in my lifetime. Middle Class People are NOT going to stand for it.

The Tea Party, is NOT a cross section, it is the zaney, ill informed, radical RW, racist, bubba sheep, and now they are going to get a lesson they won't forget.

They are going to see what happens to a country when people slurp up propaganda, and are manipulated into attacking their fellow working class, Americans, just because the Party tells them to.

After voting against their own best interests for three decades, and then embracing the mantal of admiration, for the greedy and corrupt, to whom they gave a pass for stealing, the minions cheered, while the profits were used to buy the last election/

The top corporate pigs had already striped the country of their savings, annd investments, and now, they will destroy day to day stability, in towns across this country, making them even more pliable, even more easily manipulated, a repeat of what they did to Chile, long ago. It's called The Shock Doctrine....

G.

Gayle in MD
02-17-2011, 02:47 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body"> Boehner stood firm in his polished tassel loafers. "Since President Obama has taken office the federal government has added 200,000 new federal jobs, and if some of those jobs are lost in this, so be it," he said.

"Do you have any estimate of how many will?" Caldwell pressed. "And won't that negatively impact the economy?"

"I do not," Boehner replied, moving to the next questioner.

Well, Mr. Speaker, I do. I checked with budget expert Scott Lilly of the Center for American Progress, and, using the usual multipliers, he calculated that the cuts - a net of $59 billion in the last half of fiscal 2011 - would lead to the loss of 650,000 government jobs, and the indirect loss of 325,000 more jobs as fewer government workers travel and buy things. That's nearly 1 million jobs - possibly enough to tip the economy back into recession. <span style='font-size: 20pt'>So be it? </span></div></div>

LWW
02-17-2011, 04:56 AM
Actually:

1 - By 2014 over half of the total federal debt will have occurred on Obama's watch.

2 - About 10% will have happened on Reagan's watch.

3 - Obama has no intent on paying down any of it.

4 - You have no clue what you are talking about.

LWW

pooltchr
02-17-2011, 10:54 AM
Poor Q and G....they post stuff like this not even noticing that it fully supports the Conservatives calls to reduce spending rather than continuing to increase it. They are looking backward, and failing to see that Obama has quickly bevcome the worst offender, if you are going to hold the POTUS accountable for spending.

If you look at congress as being the spenders, you get quite a different picture. A Rep congress during the Clinton years would get all the credit for the "Clinton surplus", and the Dem congress of recent years would get credit for the spending during most of the Bush administration.

Either way....what has happened in just the last two years is completely the fault of the Dems....and the numbers don't lie!

Steve

eg8r
02-17-2011, 01:53 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Starting in 2014, net interest payments will surpass the amount spent on education, transportation, energy and all other discretionary programs outside defense. In 2018, they will outstrip Medicare spending. Only the amounts spent on defense and Social Security would remain bigger under the president's plan.
</div></div>Why is this a surprise. You already knew defense and social security were the only remaining items. It has been posted here more than once that the 4 biggest items spent are Debt, defense, medicare and SS. If we start drastically cutting medicare and medicaid the way defense has been cut the past few years we might be on to something. You fools don't mind defense industry job losses but the world would come to an end of some medicare employees lost their jobs.

<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Obama is the one burdened to pay off the crippling Reagan and GW Bush debt and the republicans have the nerve to complain about govt spending too much!

</div></div>Maybe you idiots might want to just set him up to the task of handling his own debt since it is climbing faster than any other President in our history.

eg8r

LWW
02-17-2011, 06:05 PM
In their defense it was on the spoon.

LWW