Cheat Sheet
The Best In Brief
THANK YOU
Your feedback has been sent!
Obama Says We Must Reduce Debt
"The government is going to have to get serious about reducing our debt levels," President Barack Obama told his Economy Recovery Advisory Board Monday. This was the board's second meeting with the president; it was established to provide the White House with an independent voice on the economy. While saying that the government's focus must also be on job growth, Obama said that the private sector must lead the way. The president indicated that unemployment figures will get worse before they get better. “We anticipate that we are going to see some job losses in the weeks and months to come,” Obama said.
COPYRIGHT © 2008-10 RTST, INC. ALL RIGHTS RESERVED. SITE DESIGN BY CODE AND THEORY.
NewyorkerR
Your kidding!!!!!!!!!!!!!!!!!!. i mean come on.this must be some kind of joke? Hay oboma how about starting buy killing the health care bill and the cap and trade bill. what a putzzzzzzzz
AlanD2
NewyorkerR: Properly done health care reform - single payer - would save Americans $1 trillion a year.
This would certainly help us reduce our national debt.
Aslanleon
Of course it will. But only if we apply enough pixie dust.
Housebird
US Tax Payer's money --- well spent ???????????
US spends more than $52 billion a year on "NUKES"
Each US family spends about $800 on NUKES each year.
http://dontbombiran.info/?p=448
.
Nonplussed
Obama is trying to reduce the size of the U.S. nuclear arsenal.
sonofloud
Anyone else remember Obama saying the deficit doesn't matter?
As usual, Obama claims whichever side of the argument is most convenient at the time.
co-intheknow
Uh, "deficits don't matter" came from 5-deferments, evil Dick Cheney via Ronnie Raygun. Here's a clip for you because it seems like you suffer from CRS - can't remember shit - just like evil Dick:
Former Treasury Secretary Paul O'Neill was told "deficits don't matter" when he warned of a looming fiscal crisis.
O'Neill, fired in a shakeup of Bush's economic team in December 2002, raised objections to a new round of tax cuts and said the president balked at his more aggressive plan to combat corporate crime after a string of accounting scandals because of opposition from "the corporate crowd," a key constituency.
O'Neill said he tried to warn Vice President Dick Cheney that growing budget deficits-expected to top $500 billion this fiscal year alone-posed a threat to the economy. Cheney cut him off. "You know, Paul, Reagan proved deficits don't matter," he said, according to excerpts. Cheney continued: "We won the midterms (congressional elections). This is our due." A month later, Cheney told the Treasury secretary he was fired.
The vice president's office had no immediate comment, but John Snow, who replaced O'Neill, insisted that deficits "do matter" to the administration.
Source: [X-ref O'Neill] Adam Entous, Reuters, on AOL News Jan 11, 2004
Nonplussed
co -- you are in the know.
eurydice9276
Technically, deficits both matter and don't matter. With our system of fiat currency the natural state is a deficit - the government has to print money and put it in the system first before people can earn it. If the government then taxed it all back to balance the budget, there wouldn't be anything left to run a private sector. However, the size of a budget deficit does matter - sometimes the economy can carry more, sometimes it needs to carry less. Most politicians don't understand how a federal budget deficit is different from a state deficit or a personal one, nor are they interested in understanding it - they just use the "matter, don't matter" rhetoric to excuse their spending or taxation plans.
merkin
Does this mean he's going to stop doing the exact opposite?
winston1
Obama you made the debt now you reduce it.
MajorRevisions
Does that include the $10 trillion left by the previous four administrations or just what he is adding?
nb-moe
Previous Bush admin only......I rememebr Clinton having a surplus? So, not only did the Bush gang make a 10 trillion $$ deficit, they spent what was given to the by the Fiscally responsible Democrats.
AlanD2
Let me expand on MajorRevisions comment, Winnie.
Reagan, Bush 41, and Bush 43 ran up $9 trillion in national debt. The only president in the last 60 years to have a budget surplus was Bill Clinton.
What does this tell you about Republicans, Winnie?
bobj72
"Permanent wince"; When will you come forward with the proclamation that President Obama was complicit in GWB's decision to Invade Iraq???
Nonplussed
Are you kidding? Really.
No really. Are you kidding?
Obama was not a senator in 2003, moron.
bobj72
Precisely the point....... you ignorant azz!!!
Spartann
See.... given enough time, Obama would put all doubt about him to rest..... Way to go Bozo..
winston1
Obama should start listning to Paul Volcker, this man has a good grasp about the economy. As far as Larry Summer's and Tim Geithner, get rid of them, they were behind the problems we face today in the banking industry.
Spartann
winston1 .... you are correct...and it's unfortunate Summers has the ear of the President now... cause he's making sure Volcker is kept as far away from Obama as possible. Summers, Geithner, Rubin and Greenspan should all be hung out to dry for what they did in the 90s during the Clinton administration.
Johnnyappleseed
Where in the hell is he getting these ideas?
Reduce the debt, how dare he say that kind of drivel?
Reduce the debt...geeeez!
AlanD2
Well, no Republican administration in the last 60 years has believed in reducing the debt, Johnnyappleseed.
You should have voted for Clinton, who had the only budget surplus during this time.
Noontime
Man, all you guys are so very right! And you're all really cool and tough and insightful too. Its all Obama's fault. The deficit, the wars in Iraq and Afghanistan, unemployment, 9/11, the Iran hostages, Watergate, Vietnam,..man, if only he werent the President. I mean, before he came along everything was just so fucking perfect in the world.
But not to worry, in 2010, everything is going to be better because Sarah Palin will finally get her due!
oliverckerr
Noontime
On this website, these compulsive posters see their posts as their 15 milliseconds of fame. Anyone making a remark, or extensive articulate comment gets in the way and is attacked for making their comment.
We are becomming a secondary lender nation. One of my ideas is to apply the "public option" to credit cards. America is as comfortable using plastic as a modicum of exchange as the old fashioned dollar.
So we create an investor, we , the people owned and operated card: The Uncle Sam Shazam card, and cover the migration from Master and Visa with a new financial instrument, The Shazam Savings Bond.
The key is to apply the reasonable interest rates on at least a trillion dollars in private debt to the inteest we, the people oqwe on our public debt. I wrote an essay on this - high cronic prose athat is also a poem. Were I to post that here, as one of the solutions, not one person would comment on the idea, rather I would personally be attacked. Ugly. stupid.
Unfortunately The Daily Beast does bring out the mental beasties.
michaelslevinson.com
AlanD2
I like your idea, oliverckerr. And thanks for keeping your post short.
amapola101
Hi oliver,its amapola. I wont write my long rants tonight.But when I do ,rewrite them. I do not understand Shazam savings. Ill read slowly. But yes,we must reduce Expenses. Cut the Congress &Politicians, in half,theyre benefits. They have to work double shifts. go looking for jobs. maybe they will see, How big companies do not hire,How banks are not helping,they are keeping it.and they invest with Foreigners and etc.There is no decent bridgeloans,for small buss, to be paid back ofcourse,but at rates that are fair. The credit cards, are getting new rules,and they are closing eveyones lines, if they cannot raise the rates. .I do not blame Pres Obama, but I am not sure they are focused,on the necessities. if the people would have been given relief from some of their problems,each individual,people would be free to innovate,grow hire.The companies, my clients, my friends with wealthy corporations, they are not hiring. they are getting used to working with less staff.Why isnt Govt,expenses cut?Why arent the luxurious ,lavish,commodities,cut down. No private airplanes, How has the politicians,buckled up.?The last time I was with their dinners the bottle of wines were 400 dollars. And, I am for healthcare reform that helps everyone.Why cant we buy from diff. states, why cant the govt, pay healthcare of the poor.This whole restructurring will be massive, I want and need fair prices, but no one can answer what is coming this way.The administration did a terrible job presenting it,and the republicans have alot of ideas,now, why cant they work together for the country.AND BUCKLE UP
amapola101
oliver, my biggest rant was oct 30, on how the stimulus is helping or somethiing. its okay,I complain all the time. because we are such a great country, and it is terrible,to see us chopped up.What happened to RitaRita, she was not rude,nastry, threatening, we have many worst persons here.?Your other posting will take me all night, but Ill read it.I cannot concentrate so much,hows your cat?
Nonplussed
Noontime, while I agree with you, I'm kinda wondering what exactly Sarah Palin will be doing in 2010 besides waiting for 2012.
bobj72
"Noontime"; A lesson for you. Your "Hip Comment", tends to Invite the participation of some of the "Patients in the Special Ward", who distract some of us who are "Patients in the General Population of this institution."
Hyeaghcheg
To Noontime: Nobody is blaming Obama for everything he inherited. At the same time, he needs to stop talking about the mess he inherited and focus on how he plans to solve these issues. He knew exactly what he was stepping into and now needs to take the helm and right the ship.
nb-moe
Yes, they are.......
amapola101
Yes,Hyeaghcheg, that is what I try to say.And I am one very proud,of the Nobel Prize think he is amazing but we need things accomplished and evreyone in his administration is not perfect.We need caring hard working leaders from all parties,that cut their budgets,also, and show us how they are saving.and helping us.
nb-moe
Right on Noontime...
amapola101
Noontime,you are right. but we were going to get out of wars. Our reason in Afghan was for Alqueda,they are gone, but what is incredible is that we knwo the billions go into the Karzai hands,not for the afghan people and we need help here.And we are going to give them more billions.As for the Iran hostages,it was Ajmadinajon, but we receive him in the US and put him on TV.The last administration destroyed us,did not watch out for its masses.But The President promised, and he is a great man, but alot of his people are off track. Healthcare had to be introduced, respecting people,explainig,it,so people would not feel confused and scared.But as Rahm said you do not waste a crisis,or something.People in this country have not been helped. Corporations,big companies, government,banks, but 70% of the persons in this country are distraught. It is not his fault,but persons do not see the help trickling down. Again it is going to the powerfull,the connected and extremely wealthy.People voted for change,and many continue to sufffer.
aackc1
Haa Haa Haa Haa! Funny stuff.
matthewbenzor
STOP NAFTA bring home the jobs shut down that New Global Order product from Mr.Clinton.......! NAFTA needs to be brought down and bring the jobs home..........!JOBS JOBS JOBS NAFTA needs to be dismantled
AlanD2
Sorry, matthewbenzor. Global trade is now a fact of life. It is too late to go back to American isolationism, and most Americans would not like the results if we tried to.
oliverckerr
Oh well - here is a solution coiffed in two forms of high tonic writing, interchangeable prose and poem, a solution we can all live happily with. I guaranree in advance not one comment will be placed about the concept of applying the interest on our private debt to the interest we oew on our public debt, by creating a new financial instrument: The Shazam Savings Bond.
Uncle Sam Shazam
The credit card anchors are pulling us down; wrecking America's dream. Their charge-it schemes come with hooks too deep to fathom. They dip both ends of the stick, skimming the sales with nets the fish cannot slip; then at the swipe of your card they reel out their dough, riding your line on the rate you agreed to, the total you owe.
Horrific stories abound. You pay your bills online on time. Build excellent credit. Then one night your laptop freezes. By a tock of the clock, you're late. Your interest rate jumps double digits, off the chart. Then you get the call. Sopranos on your cell.
Yet credit card folk appear angelic, necks to pay-check advancers who prey on the broke. The payday people put fifteen bucks on a hundred, their max two-weeks flat, and grinningly tell you, "That's 391.07 percent per annum."
The credit card giants and check advance dealers have something in common: The same filthy hands. Price fixers violate law. But their scams for scramming money are apparently legal, their shades, miniscule.
We need a public credit card option: The Uncle Sam Shazam!
The statute will read, regardless of your credit, an income guarantees your Shazam line comes with Shazam agreement: Uncle Sam Protection, the interest fair, plainly written clear, a teensy rate with excellent credit, higher for chronic late payers, your monies compounded quarterly.
The shops accepting Shazam can expect livable fees for all their transactions. You make the call, the citizen who flashes glam of Shazam, guaranteed extension.
Uncle Sam Shazam is a boon for Congress, too. Suggesting, "Public Option," burns their pocket through; halls of the Congress crowed by lobbyists, ducats by the bucket full. On Capitol Hill, lobbyists and prostitutes go far, share the same car. All aboard pay the fare, get their due.
Senator Max Baucus snatched three million pesos from the health care execs. Their single payer plan insures every body single, pesos them, unless you get sick. Then you don't have a prayer.
Lobbyists for entrenched purveyors will exercise their protection racket, rising to the call, stuffing campaign pockets up and down the hall, thousands for their elections, quid from the pros for Members of Congress all, to snub the Shazam, refuse to hold hearings, issue tabled, snubbing Nobel Prize winners on whether or not to consider saving us one trillion bucks a quarter.
Oh! That Shazam Card interest payment? That's in the statute. Interest goes to pay vigorish due on our national debt! I explained this idea to my banker: The public option for private creditor debt. The manager exclaimed, " We'll be back in the black."
Unless we draw down our world wide debt we will soon be secondary rated, our vigorous dollar slashed! That's the debtor etch on the window; why worldly executives self-inflict with repugnant piles of money, G'zillion dollar bonuses that dwarf their pay. They sense devaluation is coming our way, trillions of deboned empty dollars ushering steep dénouement, their inflation plan, stash while you can.
How long after 2012 before one stick of Wrigleys will chew up a dollar? When I was a kid five sticks cost a nickel. One dollar covered an emergency trip to Doctor Greunfeld's, a block away. A chunk of coal was stuck in my eye. Those days are gone. My eye is OK.
When our economy slumps in a funk, instead of braying for the Federal Reserve to adjust money cost, we can bump the Shazams of all our working folk 500 bucks, interest and payments not for six months. When the bottom is up, our economy pumps; their Fed economy, anomaly.
What about dead beat non-payers? Oh? What about that income tax refund?
Besides the vig from our national debt, Shazams' net, locked and boxed to square medicare, saving trillions, we have home land security snookered, re-spoken for by Great Sam Uncle Shazam.
The conspiracy crowd shouts I'm nationalizing private debt, Uncle Shazam will get in our lives deeper yet, find out to whom we owe, and for what. That's right! Grin and get bare with it, the great skinny dip, our ship of state buoyed by Shazam; our all purpose patriotic ticket.
The government taps your transaction information and sweeps every move. Times where you go. Sees what you do. Good. Shazam dissolves their queasy need to tap our phones en masse, listening to one maybe wannabe terrorist! Cells qualified for spot checks should belong to those who hide behind cash. With Shazam we regain our homeland security, the privacy of our home spoken thoughts, sanctified in our sanctuary.
You approach an ATM. Insert Shazam, punch in your pin, whisper magic word, greenback appears. (Shazam magic word.)
The credit card anchors
Are pulling us down,
Wrecking America's dream.
Their charge-it schemes
Come with hooks
Too deep to fathom.
They dip both ends
Of the stick, skimming
The sales with nets
The fish cannot slip; then
At the swipe of a card
They reel out their dough,
Riding your line
On the rate you agreed to,
The total you owe.
Horrific stories abound.
You pay your bills online
On time. Build excellent
Credit. Then one night,
Your lap top freezes. By
A tock of the clock,
You're late. Your interest rate
Jumps double digits,
Off the chart. Then you get
The call. Sopranos on your cell.
Yet credit card folk
Appear angelic, necks to
Pay-check advancers
Who prey on the broke.
The payday people put
Fifteen bucks on a hundred,
Their max two-weeks flat,
And grinningly tell you,
"391.07 per cent per annum."
The credit card giants
And check advance dealers
Have something in common:
The same filthy hands.
Price fixers violate law.
But their scams for scramming
money are apparently
legal, their shades, miniscule.
We need a public credit card
option: The Uncle Sam Shazam!
The statute will read,
Regardless of your credit,
An income guarantees
Your Shazam line comes
With Shazam agreement:
Uncle Sam Protection
The Interest fair, plainly
Written clear, a teensy rate
With excellent credit,
Higher for chronic
Late payers, your monies
Compounded quarterly.
The shops accepting Shazam
can expect livable fees
For all their transactions.
You make the call,
The citizen who flashes
Glam of Shazam,
Guaranteed extension.
Uncle Sam's Shazam
Is a boon for Congress, too.
Suggesting, "Public
Option," burns their pocket
Through; halls of the Congress
Crowed by lobbyists,
Ducats By the bucket full.
On Capitol Hill, lobbyists
And prostitutes go far, share
The same car. All aboard
Pay the fare, get their due.
Senator Max Baucus snatched
Three million pesos
From the health care folks.
Their single payer plan
Insures every body single,
Pesos them,
Unless you get sick.
Then you don't have a prayer.
Lobbyists for entrenched
Purveyors will exercise
Their protection racket,
Rising to the call,
Stuffing campaign pockets
Up and down the hall,
Thousands for their elections,
Quid from the pros for
Members of Congress all
To snub the Shazam,
Refuse to hold hearings,
Issue tabled, snubbing
Nobel Prize winners
On whether or not
To consider saving us
One trillion bucks a quarter.
Oh! That Shazam Card
interest payment?
That's in the statute.
Interest goes to
Pay vigorish due on
Our national debt!
I explained this idea
To my banker:
The public option for
Private creditor debt.
The manager exclaimed,
"We'll be back in the black."
Unless we draw down
Our world wide debt
We will soon be
Secondary rated, our
Vigorous dollar slashed!
That's the debtor
Etch on the window;
Why worldly executives
Self inflict with
Repugnant piles of money,
G'zillion dollar bonuses
That dwarf their pay.
They sense devaluation
Is coming our way,
Trillions of deboned empty
Dollars ushering steep
Dénouement, Their inflation
plan, stash while you can.
How long after 2012
before one stick of
Wrigleys will
chew up a dollar?
When I was a kid
Five sticks cost a nickel.
One dollar covered
An emergency trip to
Doctor Gruenfeld's,
A block away.
A chunk of coal was
Stuck in my eye.
Those days are gone.
My eye is OK.
When our economy
Slumps in a funk,
Instead of braying
For the Federal Reserve
To adjust money cost,
We can bump the Shazams
Of all our working folk
500 bucks, interest and
Payments not for six months.
When the Bottom is up,
Our economy pumps;
Their Fed economy, anomaly.
What about dead beat
Non-payers? Oh?
What about that
income tax refund?
Besides the vig from
our national debt,
Shazams' net,
Locked and Boxed to
Square medicare, saving
Trillions, we have home
Land security snookered,
Re-spoken for by
Great Sam Uncle Shazam.
The conspiracy crowd shouts
I'm nationalizing private debt,
Uncle Shazam will get in
Our lives deeper yet, find
Out to whom we owe,
And for what. That's right!
Grin and get bare with it
The great skinny dip, our
Country buoyed by Shazam;
All purpose patriotic ticket.
The government taps
Your transaction information
And sweeps every move.
Times where you go.
Sees what you do. Good.
Shazam dissolves their
Queasy need to
Tap our phones en masse,
Listening to one maybe
Wannabe terrorist!
Cells qualified for spot
Checks should belong to
Those who hide behind cash.
With Shazam we regain
Our homeland security,
The privacy of our
Home spoken thoughts,
Sanctified in our sanctuary.
You approach an ATM.
Insert Shazam, Punch
in your pin, Whisper magic
Word, greenback appears.
(Shazam magic word.)
michaelslevinson.com
bobj72
"Noontime"; There, you see - You've done it again!!!
Johnnyappleseed
mikey, couldn't you for one day stay away from those long say nothing posts of yours?
Go to your room and unplug.
oliverckerr
Long say nothing, ay. The official TDB toilet mouth, posing as planter of seed, in favor of growth has once again dribbled indelicate stink.
michaelslevinson.com
TK798999
Obama Code = I will raise your taxes!
No thanks. Stop borrowing and spending.
Cut spending NOW!
This Democrat has had enough. The Dem party is off course.
Bill Clinton was the model to emulate. Dear God, I miss the incredible 90's.
It's time to right the wrongs of the 2008 campaign debacle. New leadership is needed. Obama, Pelosi, Reid and the invisible DNC Chair Kaine all must go. The Dem party base wanted Hillary for President in 2008 and still does.
Hillary 2012!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! !!!
********************************************************************
NewyorkerR
hill is a Democrat and Obama is a Communist.
i woul love to see hilery run in 2012. and i think she will
Johnnyappleseed
You said it all, the liberal loonies have hijacked the democratic party.
AlanD2
Don' judge Democrats by what has happened to Republicans, Johnny.
Jinglebob
Is this a joke? Obama wants to lower the debt? He's been at the weed again.
djanimaequeen
A much better option than the crack you're smoking.
oliverckerr
Very good!michaelslevinson.com
bobj72
Wouldn't it be REFRESHING if "Cute" was restricted from TBD???
Thank you.
As a first time user, your comment has been submitted for review. It can take anywhere from a few hours to a day or two for your comment to be reviewed, depending on the time of week and the volume of comments we receive.