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Comptroller General of the USA predicting economic collapse

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  • #16

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    • #17
      Lots of what the guy says is true, but he is using fiscal year 2005 figures for the deficit. We're now in fiscal year 2008, and the unified budget deficit is much lower (~$160 billion rather than $318 billion).

      Like him, I'm mindful of the long-term commitments of the federal government. That's why the Dems are being irresponsible by blocking Bush's Social Security reform and Bush is being irresponsible by pushing through the medicare drug benefit.
      I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

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      • #18
        So he was wrong. Big suprise.
        I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
        - Justice Brett Kavanaugh

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        • #19
          Originally posted by Lancer
          *Note to self, buy another rice field*
          And keep your money in the rock-solid Philippino peso.

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          • #20
            Originally posted by DanS
            Lots of what the guy says is true, but he is using fiscal year 2005 figures for the deficit. We're now in fiscal year 2008, and the unified budget deficit is much lower (~$160 billion rather than $318 billion).

            Like him, I'm mindful of the long-term commitments of the federal government. That's why the Dems are being irresponsible by blocking Bush's Social Security reform and Bush is being irresponsible by pushing through the medicare drug benefit.
            The deficit is lower [oh boy] we aren't borrowing money as fast as we used to.

            If Bush's so-called Social Security reform has been passed, Social Security would not be able to meet its obligations today.

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            • #21
              For the record, you are not telling the truth.
              I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

              Comment


              • #22
                Yes, he is telling the truth.
                “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
                "Capitalism ho!"

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                • #23
                  Originally posted by Zkribbler
                  The deficit is lower [oh boy] we aren't borrowing money as fast as we used to.
                  That's actually a good thing.
                  I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                  - Justice Brett Kavanaugh

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                  • #24
                    Originally posted by Kidicious
                    That's actually a good thing.
                    Louis XVI also thought prolongued deficit spending was a good thing (as well as tax exemptions for the nation's weathiest people).

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                    • #25
                      Originally posted by Zkribbler


                      Louis XVI also thought prolongued deficit spending was a good thing (as well as tax exemptions for the nation's weathiest people).
                      Well, smaller deficits is better than larger deficits. Also, I don't think it's a good time to cut spending except in the case of defense spending. The economy is on uneasy footing right now.
                      I drank beer. I like beer. I still like beer. ... Do you like beer Senator?
                      - Justice Brett Kavanaugh

                      Comment


                      • #26
                        Originally posted by Zkribbler
                        Louis XVI also thought prolongued deficit spending was a good thing (as well as tax exemptions for the nation's weathiest people).
                        I'm not exactly sure you know the nature of or the causes of the event your reference.
                        I make no bones about my moral support for [terrorist] organizations. - chegitz guevara
                        For those who aspire to live in a high cost, high tax, big government place, our nation and the world offers plenty of options. Vermont, Canada and Venezuela all offer you the opportunity to live in the socialist, big government paradise you long for. –Senator Rubio

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                        • #27
                          I'm not exactly sure that you know either.
                          “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
                          "Capitalism ho!"

                          Comment


                          • #28
                            Wow! I got 2 in one thread.
                            “As a lifelong member of the Columbia Business School community, I adhere to the principles of truth, integrity, and respect. I will not lie, cheat, steal, or tolerate those who do.”
                            "Capitalism ho!"

                            Comment


                            • #29
                              Originally posted by DaShi
                              I'm not exactly sure that you know either.
                              I'd be willing to take that bet.
                              I make no bones about my moral support for [terrorist] organizations. - chegitz guevara
                              For those who aspire to live in a high cost, high tax, big government place, our nation and the world offers plenty of options. Vermont, Canada and Venezuela all offer you the opportunity to live in the socialist, big government paradise you long for. –Senator Rubio

                              Comment


                              • #30
                                Well, that's what my undergrad thesis was on, so fire away! I'll be referee.
                                I came upon a barroom full of bad Salon pictures in which men with hats on the backs of their heads were wolfing food from a counter. It was the institution of the "free lunch" I had struck. You paid for a drink and got as much as you wanted to eat. For something less than a rupee a day a man can feed himself sumptuously in San Francisco, even though he be a bankrupt. Remember this if ever you are stranded in these parts. ~ Rudyard Kipling, 1891

                                Comment

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