Where is the US economy headed?

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wife is about to get home and I need to wrap her V'day gift

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I too am about to go out the door vor Valentine's day celebrations - or get my head knocked off if I don't.

Those are the best pointers to where the US economy is headed.

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$1,600,000,000,000.00

There you go. And no ... that's not Obama's new budget. That's Obama's projection for the budget DEFICIT this year!
That's money we don't have. That's money we're going to have to borrow. That's money our children and grandchildren
are going to have to pay back. Or ... .that's debt our country will eventually try to discharge in bankruptcy.

THE OBAMABUDGET

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@H2O MAN,

And, according to CBS last night, consisting mainly of increasing health provision, welfare and interest on current debt by the side of which, they said, other matters are trivial and only raised as a distraction.

"The pincers of compassion" I have heard it called with no limits in sight as compassion is the easy road to sainthood.

Senator Growler and Congressman Snot have been deselected.

Tough business eh? Put it on Ignore.

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@spendius,

I find it best to ignore CBS as they tend to distract the dumbmasses all in an effort to get Obama re-elected.

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Economists fear that the budget deficit may result in sharply
higher interest rates that would slow economic growth.

Budget Deficit Takes Largest Share of Economy Since 1945

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President Obama stood in front of the Chamber of Commerce last week and told American businesses to "get in the game"
by investing their massive cash reserves to stimulate jobs, demand and overall economic growth.

Why Business Isn't Getting 'In The Game'

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Does Obama Want the Best for America or Does He Want to Destroy It?

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@H2O MAN,

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I find it best to ignore CBS as they tend to distract the dumbmasses all in an effort to get Obama re-elected.

I watch that and Fox just to see what the bastards are telling you and whether it is different to what the bastards are telling us. Fox is ridiculous. It makes me ashamed to be a conservative. Nay--it makes me ashamed to be a human being.

But Katie Couric has a wonderful bedside manner. They should post her to Darfur to talk to the leaders there.

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Spendi is hot for that little cunning runt Couric.

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Barack Obama must think that the ObamaMedia isn't going to call him
out and the American people are too ignorant to know otherwise.

OBAMABUDGET BUST

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The US economy is in the pits; all levels of government will be cutting jobs - and hopefully the benefits of those jobs. The citizens are wary of supporting government "servants" for a lifetime of benefits when they themselves do not have, and most often they work only 30 years to get 90% of their highest salary as a pension. .

If we think the pro-democracy in Egypt was a big deal, just wait until the citizens get fed up with government over-spending increasing the deficit. The US dollar is barely hanging onto a thread.

Many of these government workers are saying it's not fair to cut their pay and benefits, because they "earned" it, and want the citizens to pay more in taxes to keep them working.

What we will actually see are a) thousands laid off from their jobs, b) renegotiation of their retirement benefits, c) lost jobs means more lost homes and consumer spending, and d) a Great Recession that is going to last another decade or more.

The stock market's new highs are an illusion that will disappear as jobs, homes, and tax revenues drop to new lows.

Don't forget, it requires the creation of at least 200,000 jobs every month for our economy to grow. That isn't going to happen; not now, not next year.

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@cicerone imposter,

TAX INCREASES ARE INEVITABLE

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@H2O MAN,

H2O MAN wrote:

TAX INCREASES ARE INEVITABLE

Hello, Laffer Curve!

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@cicerone imposter,

Quote:

If we think the pro-democracy in Egypt was a big deal, just wait until the citizens get fed up with government over-spending increasing the deficit.

Do you think the latest fashion in domino effects is going to reach Washington?

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@georgeob1,

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We've had a decentralized power grid for about 90 years now

Really? Where was this grid built without government involvement? I am just curious george since you seem to know the history of the power grid.
No government licensing?
No government planning?
No government involvement at all?

I really want to know where this mysterious grid is that never had government involvement which is the standard set for "central planning" by okie.

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@parados,

parados wrote:

Quote:
We've had a decentralized power grid for about 90 years now

Really? Where was this grid built without government involvement? I am just curious george since you seem to know the history of the power grid.
No government licensing?
No government planning?
No government involvement at all?

I really want to know where this mysterious grid is that never had government involvement which is the standard set for "central planning" by okie.

Not only that, but I'm pretty sure that while the individual companies that provide power into our shared grid are decentralized, the load balancing and grid planning that keeps the whole thing running together most decidedly is not.

Cycloptichorn

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@Cycloptichorn,

Nor can any state allow it to be.

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@parados,

parados wrote:

Quote:
We've had a decentralized power grid for about 90 years now

Really? Where was this grid built without government involvement? I am just curious george since you seem to know the history of the power grid.
No government licensing?
No government planning?
No government involvement at all?

I really want to know where this mysterious grid is that never had government involvement which is the standard set for "central planning" by okie.

Spare me the interrogation crap. I never said there was no licensing or permitting, or no government involvement at all - and you know that. These word games you play to find fault are childish and stupid in the extreme.

Every industry in the country is subject to various kinds of regulation by the Federal and local governments. That doesn't mean that they are centrally planned in the usual sense in which that phrase is used.

Go play your gotcha games with others who have less contempt for your mindless posturing.

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@georgeob1,

Quote:

Every industry in the country is subject to various kinds of regulation by the Federal and local governments. That doesn't mean that they are centrally planned in the usual sense in which that phrase is used.

But we weren't using the phrase in the usual sense. We were using it in the okie sense. It's central planning if the government is involved is the okie sense.

Okie he had already rejected my argument that it isn't central planning just because the government supports building something. He claimed it's central planning because it was included as a line item in the budget.

If you don't like okie's definition then perhaps you should tell him or at least not jump in without knowing which definition we are using and who defined it that way.

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@georgeob1,

Quote:

That doesn't mean that they are centrally planned in the usual sense in which that phrase is used.

It does really George. The central planning might delegate responsibilities to varying degrees and the usual sense of the phrase will depend on who uses it and what they are used to. Just as it delegates responsibilities within its own departments in certain areas. Both formally and informally.

I assume the planning in the US is looser than it is here. Maybe not in all areas though. But it is basically centrally planned. It has to be.

Small businessmen here are always complaining about government regulations. I daresay large companies employ teams of people to keep up with them such is the rate government churns them out. There's nothing else for them to do when they have been elected except to think up new regulations. Even for structures running sweetly. Interference is what they do. Right down the ******* line to the traffic warden and the garbage collectors.

I've seen four lots of minions acting on orders fighting over who can interfere most during a gas shortage when the tanker drivers were on strike. "Informal" rationing. The cops won. But the Army wasn't needed so you can expect that.

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Where is the US economy headed?

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