What's with the American government and the crisis?

AD Chaos

AD Chaos

MGTOW
Aug 3, 2009
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Hey dudes

I've been reading about the US deficit and debt problems on the webz for a while, and (at least from what I've read) the situation appears to be nothing short of horrific (for the middle class, that is?)

Congress passed a deal to raise the debt ceiling by $2.1 trillion more (amidst what it honestly looked like a media circus), Putin calls the U.S. a "parasite" on global economy (for political reasons?), a major tax overhaul seems to come next, and lots of pplz seem to unanimously accuse politicians (the US Congress and Obama, specifically) of spending more than the country has and robbing Americans of their Social Security and Medicare..

Is it true, is it political bickering, or media/public exaggerating?
Explain?
 
Before being pissed off at health care, take a look at what your country needs and the whole world around you.

Then take a look at all your military's expenses and compare.
 
^Agreed. The citizens and leaders of this country approach governmental duties with a mob mentality. The money spent on war and education is inversely proportional. That's the main fucking problem, right there. We're a country mostly full of selfish and idealistic morons who elect selfish and idealistic morons.
 
Its a power play by the republicans the make it look like Obama tanked the economy and potentially make him make a move they could impeach him for. Secondly its a way for them to sneak a bunch of legislation in under the radar that will strip individual rights and regulation on corporations (FCC, FDA, EPA). They want to replace a lot of the public infrastructure with private (FAA, govt owned rail). The country is in the process of being sold.
 
Exactly. If Bush or any other republican were still in office you wouldn't have even heard anything about this.
 
Well id it good that a country has 100% debt of their total GNP??? Seems pretty crazy to me. we need to change US dollars as the world currency NOW!!!
So we wont be affected as much when the crazy wallstreet people take huge risks and we have to pay the price for their greed.
 
crillemannen said:
Well id it good that a country has 100% debt of their total GNP??? Seems pretty crazy to me. we need to change US dollars as the world currency NOW!!!
So we wont be affected as much when the crazy wallstreet people take huge risks and we have to pay the price for their greed.
Click to expand...

Many global economists agree with you, about getting away from the dollar. But, the question is...switch to WHAT? The Euro? It's not seen as the stable bet it once was, having to fund Greece, Portugal, and Ireland right now. The fact is, there is nothing stable right now, no one is prepared to step up.

And this new "legislation" didn't fix a dang thing. It only avoided a crisis in the short term. But the effects are still going to be felt. Confidence has been shaken. And things need to be drastically overhauled to fix things in the long run.
 
1 million would do nice in ethiopia right now, 1 billion would do wonders. So WTF, 2 trillion to only wait until 2013 ?? It's incredible it's even possible to do that and still not take tangible solutions in a short term.
 
crillemannen said:
Well id it good that a country has 100% debt of their total GNP??? Seems pretty crazy to me. we need to change US dollars as the world currency NOW!!!
So we wont be affected as much when the crazy wallstreet people take huge risks and we have to pay the price for their greed.
Click to expand...
You are talking about totally different things. The governments debt and "greed on wall street" (as if that's unique to the US) are different issues. The successful execution of greed fuels the entire world economy so lamenting it's evil is useless b/c it isn't going away.

Now, the debt certainly (justifiably) gets a lot of attention here but look at this and this.

We're hardly in a unique situation. Note that according to this, both the UK and Sweden are more heavily externally leveraged (as a % of GDP and as a per capita debt) than the US and the US is 36th in the world in terms of total debt as a % of GDP (edit: or 11th if you use IMF#'s). 60% of the US debt is owed to US citizens, institutions and our own social security trust. That's not to say the US hasn't put itself in a tenuous situation but there are few Western countries in a position to cast stones. I don't want to downplay the seriousness of the US predicament but the EU as an average has an 80% debt:GDP ratio and 9.5% unemployment. That's not that far off of US numbers. It's important to remember when you look at the US debt (as compared to your own country) that we are a very large nation and the total dollar amount reflects a country of 300+ million. For example (LeSedna), France is leveraged at 84% of GDP which isn't much healthier even though the US $ amount is much larger. Again, I don't want to defend where we are but it's important to have some world perspective b/c once you do much of the criticism is like a bunch of 300lbs guys calling the 400lbs guy fat...We all need to a diet.

The reason why this has gotten so much attention in the last month is b/c our politicians were willing to flirt with default to win an argument about our overall spending that didn't really need to be tied to raising a debt limit that accounted for money we had already spent.
The Onion actually gave the most poignant summary of the result.
 
Listen to Egan he speaks the truth.

As for Putin, screw him he is basically a Mafia member that rules a country.
 
Maybe I'm far off, but it would seem like the bottom line problem is that China has had such cheap labor up to this point (with virtual slavery) that much other countries simply cannot compete with. That added to free trade's outsourcing and the fact that people(and/or governments) in the so called 'first world' seem to have an overall tendency to spend and borrow more that they have?

If this is the case I REALLY cannot think of a real long-term solution..

Russia with it's oil production increase, but specially China emerging as they have and buying America's debt.. I've read the US already spends up to 6% of it's budget paying interests from debt alone :eek:
 
This whole debt ceiling farce is wearing kinda thin. Nice stunts to devalue the dollar because America's economy ain't going nowhere with a strong dollar. I'm sure America can muscle the Arabs into a chokehold and tell 'em they ain't getting their funny money back. I don't think that's gonna work with China. It might have to do with Arabs diggin' it up from a hole in the ground and the Chinese working murder shifts at the assembly line (although really money is money in the end). Whatcha mean my I wipe my ass with this dorra bitch? Yesterday you say it's worth solid gold!

It doesn't help that America's rich are just a bunch of fucking randroids and there's at least thirty percent of the country that wants to be just like them. So they watch faux news and lap that shit up like it's gospel. Give Steve Jobs another fucking tax break! Here take it from my kids' education, my 401k, my mortgage, take the jobs away we'll all work at mcdonalds UHMERRICAAAARGH. Dipshits.
 
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