CBO Chief: The nation’s fiscal path is “unsustainable,”

Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: jpete On: Tue Apr 13, 2010 11:13 am

Seriously though, if you want to load your children and grandchildren with crushing debt, that's between you and them.

But no one should do it to some one else's children.

People rant about bailouts and if a person took out a mortgage they couldn't afford then they are some how dead beats.

But that all goes out the window when it comes to the nation as a whole. We mortgage the whole country and expect a bailout from people that don't exist yet.

That line of thinking will get you labelled as a whacko, or you hate America or some thing. We live in bizzarro world, I swear.
jpete
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Wed Apr 14, 2010 7:48 am

I can`t remember right now which morgage broker type it was but a big one in Calfornia actually admitted to fraud when being grilled by Congress. At least its a start, you can`t possibly correct a problem if you don`t admit there ever was one. And like I say when was the last American President elected that hadn`t promised to balance the budget & reduce the debt, and I`m talking either side. It all ends up in the hands of the house & senate. The Pres., when all is said & done only has a limited amout of power.
And no Jeff I don`t think its right to leave our children, grandchildern & even great grandchildren with our debt, I thought I had said that but depending on your age we have been given our fathers & grandfathers debt. Again just kidding about that last part, you can`t right a wrong by pointing out a past wrong.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: freetown fred On: Wed Apr 14, 2010 8:10 am

I know you were kidding,but,my grandfather & father didn't have any debt--they were just farmers & probably in the same(on a smaller scale then today) fix as we are today.I remember my Dad selling off some land one yr because of milk prices dropping,that had been in the family for 3 generations,just to cover taxes,etc--it was not a happy day :(
freetown fred
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Wed Apr 14, 2010 8:28 am

Its not their or our personal debts that we all end up paying, our fathers & ourselves have some control over that, its our Gov. debt that we all get stuck with. Heck with my kids I still end up helping them (my own choosing) I just hope I can leave them a little something when I pass, all I got from my dad was a bald head, & I already passed that on to my son, why should he have to wait until I`m gone.
samhill
 
Hot Air Coal Stoker Furnace: keystoker 160
Hand Fed Coal Stove: hitzer 75 in garage
Stove/Furnace Make: keystoker/hitzer
Stove/Furnace Model: koker 160/ hitzer 75

Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: freetown fred On: Wed Apr 14, 2010 8:42 am

Be grateful,at least it's something :) --who knows what's around the corner :(
samhill wrote:Its not their or our personal debts that we all end up paying, our fathers & ourselves have some control over that, its our Gov. debt that we all get stuck with. Heck with my kids I still end up helping them (my own choosing) I just hope I can leave them a little something when I pass, all I got from my dad was a bald head, & I already passed that on to my son, why should he have to wait until I`m gone.
freetown fred
 
Hand Fed Coal Stove: HITZER 50-93
Coal Size/Type: BLASCHAK Nut/Stove mix

Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: jpete On: Wed Apr 14, 2010 10:14 am

samhill wrote:I can`t remember right now which morgage broker type it was but a big one in Calfornia actually admitted to fraud when being grilled by Congress. At least its a start, you can`t possibly correct a problem if you don`t admit there ever was one. And like I say when was the last American President elected that hadn`t promised to balance the budget & reduce the debt, and I`m talking either side. It all ends up in the hands of the house & senate. The Pres., when all is said & done only has a limited amout of power.
And no Jeff I don`t think its right to leave our children, grandchildern & even great grandchildren with our debt, I thought I had said that but depending on your age we have been given our fathers & grandfathers debt. Again just kidding about that last part, you can`t right a wrong by pointing out a past wrong.

You are contradicting yourself. You say you can't fix a problem until you admit there is one but then say you can't right a wrong by pointing out past wrongs.

You have to know what the past wrongs are so that you may fix the problem by avoiding those wrongs.
jpete
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Wed Apr 14, 2010 10:27 am

What I was referring to is that you have to first admit there is a problem, & that you can`t correct that problem by simply saying well thats the way it was done in the past. I can distinctly remember a previous admin. that would always say that the economy was fundamentally strong, they would not admit that there was a problem.
Sorry if my wording was & is a bit fuzzy, after all I`m just an old retired steel worker.
samhill
 
Hot Air Coal Stoker Furnace: keystoker 160
Hand Fed Coal Stove: hitzer 75 in garage
Stove/Furnace Make: keystoker/hitzer
Stove/Furnace Model: koker 160/ hitzer 75

Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: jpete On: Wed Apr 14, 2010 4:56 pm

samhill wrote: I can distinctly remember a previous admin. that would always say that the economy was fundamentally strong, they would not admit that there was a problem.


Correct.

And I can distinctly remember THIS administration reappointing the same guys who were running the show in the LAST administration.

The point is, this administration is doing the same things as the last one except bigger, better, faster, and more.
jpete
 
Hand Fed Coal Stove: Harman Mk II
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