We are upside down in our country!

iVillage Member
Registered: 02-05-2011
We are upside down in our country!
8
Mon, 01-09-2012 - 8:39pm

We are upside down in our country. Our debt exceeds our nations worth. I blame shady loan practices, we were obviously tricked into taking on more debt than we could afford.

iVillage Member
Registered: 04-09-2011
Mon, 01-09-2012 - 9:44pm

We aren't upside down because of Chinese purchases of Treasury notes, and almost 1/3 of the 15 plus trillion is owed to ourselves.

iVillage Member
Registered: 03-03-2009
Mon, 01-09-2012 - 11:10pm
"Oh my", said Chicken Little. "The sky is falling, the sky is falling!"

Come on, let's get real here. The U.S. debt is a concern and something which needs to be tackled but it's rather amazing how under BushCo, who spent like a drunk on a spree, that debt was a non-issue.

His role goes ignored by conservatives looking to create a boogeyman. Their role is also ignored.

For that matter, until the Tea Party had its way with the debt ceiling, our credit rating was at the highest levels. So if Chicken Little is going to scream about apocalypse, the least she could do is acknowledge that SHE threw the acorn into the air.

Otherwise, count me skeptical.

Jabberwocka

iVillage Member
Registered: 02-05-2011
Tue, 01-10-2012 - 9:44am
ROFL. Yes, the Bush administration did spend like drunk sailors, that is until the drunk Obama fleet waddled in. Spending under Obama and under Pelosi before that has been totally out of control. Whatever Bush did was amateur hour compared to Obama.
iVillage Member
Registered: 02-05-2011
Tue, 01-10-2012 - 9:46am
So Nell,
If we are just borrowing from ourselves, why not send every person in America $10,000 a month and get rid of poverty? We can just print more meaningless IOU's, right?
iVillage Member
Registered: 03-30-2007
Tue, 01-10-2012 - 10:13am

TWO wars.

iVillage Member
Registered: 03-03-2009
Tue, 01-10-2012 - 1:57pm
I am not sure who or what your source is for the claim that Obama has been more spendthrift but apparently that claim is debatable.

Jabberwocka

iVillage Member
Registered: 04-09-2011
Tue, 01-10-2012 - 9:21pm

Reread my statement... 1/3 of our debt is owed to ourselves, actually a bit less, but you get the idea.

The deficit is a problem, I do not disagree, but right now, it isn't the biggest problem. We need more spending, not less, but wise spending, set up to work towards certain goals. We needed to cauterise the bleeding in late 2008 and early 2009, that required rapid action by Bush/Obama and Congress to get it done. We can quibble about what they did or didn't do, but they had to stop an economy headed for total collapse.

Now, we have time to reason things out. Nudge this country on energy, moving it away from oil. At the same time, we need to raise the tax rates back to what they were ten years ago. We need to match people with houses and get the slack out of the housing market. Letting it free float with no direction is killing us.

iVillage Member
Registered: 02-15-2007
Thu, 01-12-2012 - 12:06pm