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fcmean
I built my business.
12:40 PM on 01/15/2013
congress to bernanke: have you paid your taxes?
01:22 PM on 01/15/2013
Does he have to care???
12:39 PM on 01/15/2013
All this hue and cry for raising the debt ceiling in the press, but very little is being said about meeting the requirements S&P quoted in 2011 for the reason they lowered our rating:

http://www.standardandpoors.com/ratings/articles/en/us/?assetID=1245316529563
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johnbates88
Liberty, Freedom, Conservative
12:34 PM on 01/15/2013
No, cut the credit card up and make Obama pay for his $7 million vacation.
01:10 PM on 01/15/2013
I like that. He could write off as a business expense, of course it is not as much because he just changed the law.
01:23 PM on 01/15/2013
Wonderful or how about we go back to them paying for their own staffing?
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ANewSpirit
Why so serious?
12:29 PM on 01/15/2013
Right after they pass a budget with spending cuts............
ALECTRO
Valiant protector of the truth
12:59 PM on 01/15/2013
Because why? You think you can hold the nation hostage because you believe we need to cut spending?

Sorry, no.
01:12 PM on 01/15/2013
Country takes in 2.3 Trillion a year. Live on it. Want to spend more, grow the economy and create more working people. That is how it is done foolish one.
01:24 PM on 01/15/2013
Not hostage but cuts with the debt ceiling.
04:12 PM on 01/15/2013
The Dagong the only credit rating of any value since it is China's.
“In regards to the U. S. debt crisis, each political party is insisting on a proposition that is favorable for its own interests," Dagong said in a statement on its website.
“The debt burden of the U. S. federal government increased 9.1 percent year on year in 2011 and 11.7 percent in 2012, far exceeding the country's nominal GDP growth rate of 3.9 percent in 2011 and 3.4 percent in 2012, Dagong said.”
“Dagong said it expects the outstanding debt of the U. S. to rise to 104.8 percent of its GDP and 608.7 percent of its fiscal revenues by the end of 2012, indicating that its solvency is experiencing a descending trend.”
Dagong placed the US on a "Negative" credit watch.
Very important, Federal spending isn't the only debt the US is liable for. State, county, local is also debt spending and projected US total spending for 2013 in $6.3Trillion.
http://www.usgovernmentspending.com/
US citizeship via US Army when my country's paychecks bounced. Former Spetsnaz now former Ranger (retired Colonel O6 25 years). I see US mimicking USSR, one mind, one "allowed" thought, omnipotent Executive Branch, fiscal insolvency.
A great General, President and Prophet,
"We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow." Eisenhower 1/17/61

“My jump buddy was a Belgian Malinois”
12:24 PM on 01/15/2013
Wha a schmuck....Don't raise the ceiling, simply lower the floor.
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skyeagle
Fatto Bene
12:21 PM on 01/15/2013
Some facts on the the national debt (not to be cnfused with the annual national deficit):
This is what each presidential adminsitration has added to our national deifict. Only two presidential adinsitration (since June 1940) have left office with a smaller national debt than when they began offfice. The are:
Eisenhower.....$7 billion dollar reductrion in the national debt
For................$76 billion dollar reduction in the national debt

Up to the Carter adminsitration the natioal debt stood at;: $935 billion
Reagan/Bush I/Clinton added: $5.015 trillion
$1,865..$1,345.. $1,805

Bush II and Obama added: $10,444 trillion
$5,365.........$5,079

Total:.........$16,394

Source: http://www.whitehouse.gov/omb/budget/Historicals/
See table 7.3
12:15 PM on 01/15/2013
Don't need to raise the debt limit unless you're going to raise the debt.
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consultingpbh
75th Ranger Regiment '66-'73
12:57 PM on 01/15/2013
A very good point except the US has breached the debt ceiling by $32Billion already (calendar year to date 14 days), it's only paper. The government has suspended the sale of state and local government treasury bonds, borrowing from government pensions and purchase or sale of foreign currency.
http://www.usdebtclock.org/
Very important issue is that the US government includes state, county, local governments. What each spends in borrowed money is the US debt, a business is only as stable as the stability of its customers.
Total US spending projected for 2013 is $6.3Trillion: $640Billion on welfare.
Fought LBJ's wars of deception; 1/8/64 War on Poverty, 8/7/64 War on Vietnam to pay for War on Poverty (US lost both).
GI Bill, BS degree matematics/statistics, 30+years owner CEO risk management firm 113 employees, War on Poverty with taxes since I opened the doors. 1/8/64 6% of population on welfare, 1/1/2013 40%.
From a General, President and a Prophet:
"We want democracy to survive for all generations to come, not to become the insolvent phantom of tomorrow." Eisenhower 1/17/61
Good luck,

Enlisted in ’66, retired a 1%er and proud of it,
“Sua Sponte”
75th Regiment
Company O
3rd Brigade
82nd Airborne (’66 -’73)
01:25 PM on 01/15/2013
Look at the last 4 years. Increased percentage more tha our world war. More welfare, more food stamps, more subsidies etc.
jonesengr
Active Business Owner
12:08 PM on 01/15/2013
I do not see any way to pressure the Democrats to make the necessary cuts to get the budget balanced. Holding the debt limit may help, but this congress has no plan to vote in a budget.

Continuing resolutions can not be the way to handle this crisis of leadership.
01:26 PM on 01/15/2013
They have not passed any budget. Just spend. Let the taxpayer worry.
jonesengr
Active Business Owner
02:03 PM on 01/15/2013
The Republicans have.
12:07 PM on 01/15/2013
obama was a cute concept. His tax the bad rich is a catchy campaign slogan - but the guy is practicing in the wrong country. This aberration will wear out soon. The world is laughing at us.
12:18 PM on 01/15/2013
I agree with you, but sadly, the voting populace has been dumbed down to the point where it will be extremely hard to elect anybody much different than the leftist/fascist/incompetent Obama. Years of public school liberal indoctrination and the continued push to place the populace under government care and control is destroying not only the foundation of the country, but eliminating our liberties. The press, which is an arm of the Democrat party, attacked Romney for telling the truth about 47% of the voters. Instead, they should have done an honest investigation regarding that fact. Nawww...that would make the Democrats look bad.
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gboc
Love USA
12:23 PM on 01/15/2013
Easy to see most news outlets lean to the left so Dems have best way to get thier message out.
12:34 PM on 01/15/2013
This should be on the front page of the NY Times.
ALECTRO
Valiant protector of the truth
01:00 PM on 01/15/2013
Only laughing at ignorant people like you who are obviously low information voters.
01:46 PM on 01/15/2013
I'm on the stamps for just a short time between jobs. My grandpa and parents were also on welfare, section 8, their entire lives along with my 7 siblings. But with the extended time we have now, I'll get out there next year when unemployment runs out. I’m entitled you know.
12:03 PM on 01/15/2013
This is USA; if the credit rating goes dawn, so what !!; USA will still be the # 1 economy; do not think that the rest of the world would turn their backs to this country, it would not be in THEIR best interest.
Can not understand why people do not get the idea that we must limit our spending.
At the end, as in any goverment or corporation, the last responsibility is at the top; who is at the top, MUST look for an agreement with everybody, no matter what, getting rid of arrogance and politics. We the people, as the employers, demand that.
01:28 PM on 01/15/2013
Business are going to be forced to lay off because of the obamacare and increase in taxes. This will cause more debt. As one business man stated he did not go into business to go backwards,
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mcgowann
prochoice agnostic libertarian fiscal conservative
01:34 PM on 01/15/2013
Low information voters, easily fooled by propaganda, believe that not raising or negotiating the debt ceiling is the reason for a lower credit rating. In reality, the huge debt and no action to lower spending is why our credit rating was lowered last year. The only changes since then were the increased taxes on the rich and the expiration of the Social Security payroll tax holiday of 2% for everyone. The annual increase in revenue is $62 billion in income tax revenue and $100 billion in Social Security tax revenue. With annual deficits of over $1 trillion, $162 billion is not much.

The problem with a lower credit rating increased interest rates on federal borrowing. It's already at 6% of total federal spending at $20 billion a month last year. Obama claims not giving him a blank check will cause a default on our debt, insinuating we wouldn't be paying the interest on the debt. The federal government takes in $200 billion in revenue a month,on if Obama specifically stops the interest payments would we default on interest payments and default.

Under Clinton, we had 3 government shutdowns. Social Security, veterans and military checks went out in full and on time and the interest was paid. Obama and Harry Reid are using scare tactics with their threats.
11:48 AM on 01/15/2013
RAISE THE TARIFFS NOW, EIGHT AND A HALF PER CENT ON ALL FOREIGN GOODS CALL IT A WAR TAX...........WE LOST $4 TRILLION TO TRADE DEALS IN TEN YEARS, THE SOLUTION IS OUT THERE, THE CONGRESS ASLEEP. WE ARE NOT SELLING ANYTHING WHAT IS GOING OUT IS PARTS AND PIECES TO BE PLACED IN CHEAP LABOR GOODS AND RETURNED FREE..........THE SOLUTION IS SIMPLE, LOOK AT THE TARIFF SCHEDULES, COLUMN ONE, FREE, FREE, FREE - 70.3 PER CENT OF ALL FOREIGN GOODS NOW COME IN FREE.....THE SOLUTION IS THERE TIME TO CALL YOUR CONGRESS REPS.
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mcgowann
prochoice agnostic libertarian fiscal conservative
01:38 PM on 01/15/2013
The increase in tariffs would cause inflation of prices of good sold in the U.S. These businesses, when facing increased taxes, pass that cost to the customers. We are already facing inflation in the prices of food and energy and the increased cost of Social Security payroll tax deductions. Yet your solution is simply to make the cost of goods more expensive for people who have tightened their belts, have seen reduced hours at jobs if not unemployed and are struggling in a stagnant economy?
03:03 PM on 01/16/2013
Its called leveling the playing field SO AMERICAN WORKERS CAN FIND JOBS Would you rather pay them to be on welfare and food stamps, its thoughts like yours that sunk this country and sent wealth out of the US along with 45,000 corporations that moved to free trade countries
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vwtimmy
giving the smack back
11:43 AM on 01/15/2013
The republicans are coming to the negotiations (what negotiation?) on a losing streak. Their logic to all of this is non-existent, save for maybe the clowns on this page claiming their inaction is doing something worthwhile for the country. The debt has been incurred. Pay the debt.
11:55 AM on 01/15/2013
Really! Why don't the Liberals control Spending. This is the problem for our country. Yes they will have to raise the debt ceiling but clamps on the socialist liberal spending need to be enacted and quickly. Guess you don't care about spending away our children's future. Just keep listening to the President and gobble up all his lies and just hear one side of the story. Think about it Lib!
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Andrew956
12:07 PM on 01/15/2013
since Bush's last budget, spending is up 1.4%- it's silly for republicans to lecture on spending
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vwtimmy
giving the smack back
12:21 PM on 01/15/2013
Quite the contrary. I watched Ronald Reagan triple the national debt with his defense industry cronies. I watched Bush 1 increase the debt by another 20%. I watched Bush 2 do unconscionable things to the national debt, the security of this country, and give my money away to foreign entities. The surest way to ruin this country, at least in my lifetime, has been to let a money-mongering political party (Republican) get their hands on my money. Liberal? Perhaps, but I'm better with money than any conservative I know. Until Conservatives move their thought processes beyond their own bank accounts or away from a woman's body parts, they will never be in power again. Did that answer anything for you Jethro?
jonesengr
Active Business Owner
12:11 PM on 01/15/2013
How many years do you think we can incur a Trillion Dollars in more debt? You see that is what this is all about. We need to cut spending
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skyeagle
Fatto Bene
12:46 PM on 01/15/2013
Total debt: $16,394

Debt added by Bush the Second: $5.365 trillion
Debt added by Obama: $5.079 Trillion

63..7% of the curent national debt (16.394 trilion) has been added by the last two presidential adminsitrations.
ALECTRO
Valiant protector of the truth
01:02 PM on 01/15/2013
Sure, cut defense and close some of the over 1000 foreign military installations.
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gcman1947
11:35 AM on 01/15/2013
who ownes all the gold in fortknox is it the people of the united states?
11:50 AM on 01/15/2013
This comment is funny, the gold in Ft. Knox belongs to our creditors...check out this website to see who owns YOU.

Search Results

Major Foreign Holders - Department of the Treasury

www.treasury.gov/tic/mfh.txt

MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES (in billions of dollars) HOLDINGS 1/ AT END OF PERIOD Oct Sep Aug Jul Jun May Apr Mar Feb Jan ...
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Andrew956
12:07 PM on 01/15/2013
the Treasury
11:29 AM on 01/15/2013
Yes, the sky is falling, and it's on the entitlements SS, unemployment, medicare, etc. Well if I were the King of the forest, I would start with a small cut in the EPA, then the IRS, TSA, DoJ and the FR. "Maybe" this would free up?!!! No! This would free up some funds to pay the interest on the US debt. How about cutting some of the vacation time Mr. Pres. and our legislators. Let the states take care of the schools. Now all of these layoffs can pick up a shovel for the ready infrastructure jobs. and start digging the US out of the *&^%#$ hole your policies have put us peons in. If you need an armed guard, I will stand over you with my 7 shot weapon.
12:12 PM on 01/15/2013
Agree!
11:27 AM on 01/15/2013
Local Fox Urges farmers to uncage those poor chickens and make all free-range, with NO fences.