Pelosi: Give Obama Power to Personally Lift Debt Limit to Infinity

[the machine]

Originally Posted by ddregehr

I'm sorry you missed my point. Our dollar is worthless because it is supported by credit not our savings. Credit is BORROWED money which means it is someone else's. Others control our destiny and our sovereignty because they own us financially. Sovereignty is a right of independence, but we are dependent on others for our financial viability (fiscal cliff ring a bell).

Putting people to work verses paying loans off to a country are not the same thing. If you personally lent money to an individual and then his business gave your business work, that doesn't mean you are not owed money. You are saying that out of the goodness of the US's heart that they should be grateful that companies got work even though they didn't get paid back and are now facing financial difficulties because of that generosity?

Next time I need money, I'm looking you up machine!

First of all our dollar is not at all worthless, it is worth too much compared to other currencies. The fiscal cliff has absolutly zero to do with what we owe, it is an artificial crisses created by congress.

When we lent money to europe to rebuild and they hired our companies to rebuild europe, that added income for our companies and increased economic output. Yes we lent the money with one hand and took it back with the other but in terms of economic activity it was a huge boost to our economy.

We are not in financial difficulties due to the money we lent europe. We are not in financial difficulty due to the money we give to other countries. we are in financial dificulties because our economy crashed and put lots of people out of work. Those people out of work no longer paid taxes so revenue fell like a rock. Furthermore those people required services that cost the government money...so instead of paying off debt we go further into debt. But again our national debt is not like the debt you or I incurr.

[Texdentist]

Originally Posted by the machine

Tex just after WWII spending which had been running at 53% of GDP dropped to 21%. It then increased to the mid 30s until up to the mid 90s. Today it stands at 22.9% of GDP. The economy could stand to use some more spending especialy on infrastructure which will need lots of attention for many years to come. The army corps of engineers estimates that to get our infrastructure back to safe levels we would need to spend $2.2 trillion. Now I am not suggesting that the government spend money by giving it to wallstreet or GM...I am saying we should spend to repair our infrastucture which needs to be done anyway and would increase this country's efficiency. Just adding 1 trillion this year would still keep government spending below 30% and would spur the economy. And no one is even talking about spending another trillion....perhaps they should be.

The problem is, we were told that the first $1.5T or so on TARP I and II was going to go to infrastucture and "shovel ready jobs". Four years later, our infrastructure hasn't improved 1%. Why? Because Obama lied. There were no shovel ready jobs, and in any case, he had no intention of spending on infrastructure. He spent all of the money on banks, income redistribution and pet enviro-tech companies that were boondoggles. So you think we need to give him another couple of trillion to squander on meaningless liberal crap? I do not trust this administration as far as I can throw it to spend one dime wisely. Everything is Chicago politics for them. That means reward your friends and punish your enemies. That's all they know, and they want to do it with our money.

[blckslvr79]

Originally Posted by Texdentist

The problem is, we were told that the first $1.5T or so on TARP I and II was going to go to infrastucture and "shovel ready jobs". Four years later, our infrastructure hasn't improved 1%. Why? Because Obama lied. There were no shovel ready jobs, and in any case, he had no intention of spending on infrastructure. He spent all of the money on banks, income redistribution and pet enviro-tech companies that were boondoggles. So you think we need to give him another couple of trillion to squander on meaningless liberal crap? I do not trust this administration as far as I can throw it to spend one dime wisely. Everything is Chicago politics for them. That means reward your friends and punish your enemies. That's all they know, and they want to do it with our money.

Bitter much?

[the machine]

Originally Posted by Texdentist

The problem is, we were told that the first $1.5T or so on TARP I and II was going to go to infrastucture and "shovel ready jobs". Four years later, our infrastructure hasn't improved 1%. Why? Because Obama lied. There were no shovel ready jobs, and in any case, he had no intention of spending on infrastructure. He spent all of the money on banks, income redistribution and pet enviro-tech companies that were boondoggles. So you think we need to give him another couple of trillion to squander on meaningless liberal crap? I do not trust this administration as far as I can throw it to spend one dime wisely. Everything is Chicago politics for them. That means reward your friends and punish your enemies. That's all they know, and they want to do it with our money.

Tex....Tarp was the troubled asset relief plan that was done by GW Bush. That was the money spent on banks, AIG and GM and Chrysler, and yes some of it went to companies like solyndra. Perhaps you are talking about the American Jobs act. But there was not $1.5 trillion for shovel ready jobs in the bill, the entire bill was $447 billion, and two thirds of that were tax breaks, like the reduction of payrol tax. Now it is true that far fewer jobs were actualy shovel ready and of the $130 billion dollars more than half remains un touched, but that means it wasn't used not that it was squandered. I can tell you that lots of the money was used for infrastructure around this area...and they are fixing roads and bridges that were in desparate need.

I know you don't trust Obama, but you should at least understand what he has done before you crucify him.