by having the government take over everything!
Want to play? No???
Too bad, you’re already playing and just don’t know it!
Illinois’ credit rating has taken another hit. Standard & Poor’s Ratings Service downgraded the state from an “A” rating to “A-minus”, making it the worst in the country.
The New York ratings firm’s ranking means taxpayers may have to pay tens of millions of dollars more in interest when the state borrows money for roads and other projects.
The downgrade is the latest fallout over the $96.8 billion debt to five state pension systems.
The downgrade now ties Illinois with California, but California has a positive outlook.
Illinois’ fragile overall financial status netted it a negative outlook, putting it behind California overall.
The ratings came out now because Illinois plans to issue $500 million in bonds within days.
I just love the fact that Democrats take my tax money and use it to buy votes. I guess I can’t really blame them since it seems to be working rather well for them. I’m just curious to know what happens when the money fountain runs dry?
“Fiscal Cliff” put in a much better perspective.
* U.S. Tax revenue: $2,170,000,000,000
* Fed budget: $3,820,000,000,000
* New debt: $ 1,650,000,000,000
* National debt: $14,271,000,000,000
* Recent budget cuts: $ 38,500,000,000
Let’s now remove 8 zeros and pretend it’s a household budget:
* Annual family income: $21,700
* Money the family spent: $38,200
* New debt on the credit card: $16,500
* Outstanding balance on the credit card: $142,710
* Total budget cuts so far: $38.50
Got It ??…….OK now,
Lesson # 2:
Here’s another way to look at the Debt Ceiling:
Let’s say, You come home from work and find
there has been a sewer backup in your neighborhood….
and your home has sewage all the way up to your ceilings.
What do you think you should do ……
Raise the ceilings, or remove the shit
“The president’s plan to increase taxes on the upper two percent covers the spending by this federal government not for eight years, not for eight months, not for eight weeks but for eight days. Eight days only,” said Mr. Price. “It’s not a real solution. So, again, I’m puzzled by an administration that seems to be more interested in raising tax rates than in gaining economic vitality.”
Some of the new claims, especially in New Jersey, were due to Hurricane Sandy–but these were offset by a decline in claims filed in New York. The highest numbers of new filings came from Pennsylvania and Ohio, where there were thousands of layoffs in the construction, manufacturing, and automobile industries.
This tells the story, why Bush was so bad at the end of his term.Don’t just skim over this, it’s not very long, read it slowly and let it sink in. If in doubt, check it out!!!
The day the democrats took over was not January 22nd 2009, it was actually January 3rd 2007 the day the Democrats took over the House of Representatives and the Senate, at the very start of the 110th Congress.
The Democrat Party controlled a majority in both chambers for the first time since the end of the 103rd Congress in 1995.
For those who are listening to the liberals propagating the fallacy that everything is “Bush’s Fault”, think about this:
The economic meltdown that happened 15 months later was in what part of the economy?
BANKING AND FINANCIAL SERVICES!
Unemployment… to this CRISIS by (among MANY other things) dumping 5-6 TRILLION Dollars of toxic loans on the economy from YOUR Fannie Mae and Freddie Mac FIASCOES!
Bush asked Congress 17 TIMES to stop Fannie & Freddie – starting in 2001 because it was financially risky for the US economy.
And who took the THIRD highest pay-off from Fannie Mae AND Freddie Mac? OBAMA
And who fought against reform of Fannie and Freddie? OBAMA and the Democrat Congress
So when someone tries to blame Bush.REMEMBER JANUARY 3rd, 2007….THE DAY THE DEMOCRATS TOOK OVER!”
Budgets do not come from the White House. They come from Congress and the party that controlled Congress since January 2007 is the Democrat Party.
Furthermore, the Democrats controlled the budget process for 2008 & 2009 as well as 2010 & 2011.
In that first year, they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending
For 2009 though, Nancy Pelosi & Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until Barack Obama could take office. At that time, they passed a massive omnibus spending bill to complete the 2009 budgets.
And where was Barack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete 2009.
If the Democrats inherited any deficit, it was the 2007 deficit, the last of the Republican budgets. That deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Democrats in Congress took control of spending, and that includes Barack Obama, who voted for the budgets.
If Obama inherited anything, he inherited it from himself. In a nutshell, what Obama is saying is I inherited a deficit that I voted for and then I voted to expand that deficit four-fold since January 20th.
There is no way this will be widely publicized, unless each of us sends it on!
We’ll never get straight answers from the media when it comes to Obama. It was so easy to dump on Bush when society had a liberal media willing to spin facts, distort the truth, and give Barry a much needed leg up.
So, what does a trillion look like? Come over and take a look! Now think of that huge stack and multiply it by 16. It is mind-numbing to ponder what our federal government does with our tax money, but it is even worse to think about how the politicians borrow even more money because what we have just isn’t enough. It will stop sooner or later because all of this nonsense is not sustainable. All you have to know is simple math to figure out the crushing effect of interest payments alone. Our media certainly doesn’t give this one issue the attention it truly deserves. There should be a debt clock behind every news anchor and reports should be pummeling the administration and Congress for answer regarding the out-of-control spending and the necessary cuts that must be implemented. I know, I’m just spitting in the wind.
The video speaks volumes about Barry’s ineptitude. It is time for him to go back to Chicago and sleep in that house he can now afford.
Even this, however, understates the size of catastrophe the United States faces. There are no precedents in history for a great power spending itself to death on the scale America is doing. President Obama has added $5 trillion to the national debt, and has nothing to show for it. Do you know how difficult that is to do?
Personal debt per citizen is currently about $50,000, but at least you got a La-Z-Boy recliner and a gas-fired barbecue out of it. Obama has spent America’s future, and left no more trace than if he and his high school “choom gang” had wheeled a barrow of $5 trillion in large notes behind the gym and used them for rolling paper.