Obamanomics explained fo all to understand.

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"That figure would equal 90 percent of the estimated gross domestic product in 2020, up from 40 percent at the end of fiscal 2008. By comparison, America's debt-to-GDP ratio peaked at 109 percent at the end of World War II, while the ratio for economically troubled Greece hit 115 percent last year.WASHINGTON TIMES"
"That level of debt is extremely problematic, particularly given the upward debt path beyond the 10-year budget window," said Maya MacGuineas, president of the bipartisan Committee for a Responsible Federal Budget.
"The proposed budget is woefully insufficient to achieve the president's goal or the important fiscal goal of stabilizing the debt at a reasonable level in the medium and long term," Ms. MacGuineas said.
For the 2016-20 period, CBO estimates that deficits will average more than 5 percent of GDP, even while assuming the economy will be near full employment, with an average jobless rate of 5 percent during that same five-year period. WASHINGTON TIMES
"Deficits in the, let's say, 5 percent of GDP range would lead to rising debt-to-GDP ratios in a manner that would ultimately not be sustainable," Mr. Orszag, the President's OMB Director, acknowledged to reporters on March 20, 2009, two months after the administration entered office.
D. Elmendorf, CBO Director, appointed by the current Congress, - In speaking about 2009 "Federal Debt held by the public will equal about 60% of GDP by the end of this fiscal year, the highest level since the early 1950's. As a result, further large deficits and increases in the debt will raise serious economic risks."
Per the CBO the 10 year Budget Baseline Debt to GDP is projected to be 67.5% and President Obama's Budget's Debt to GDP is projected to be 90% Debt to GDP.This is the result of President Obama's Budget increasing Debt an additional $3.8 Trillion. The $3.8 Trillion is from increased spending from the 2010 Fiscal year above and beyond the automatic annual increases.

For reference in 1988 the Debt to GDP was 40%, in 1998 36% and 2008 40%. After WWII over 14,000,000 dropped their uniforms and many donned hardhats to rebuild Europe and Japan. Defense spending including the War is 24%, down from the post WWII 50 year average of 35%. Point is the increased spending is entitlements which do not end.

Former Tres Sec Rubin, appointed by Pres Clinton, states - "The United States faces projected 10-year federal budget deficits that seriously threaten its bond market, exchange rate, economy, and the economic future of every American worker and family. " -"The commission also found that no economy anywhere in the world had been successful with largely state-directed activities and high walls against global integration.
The evidence, in other words, strongly suggests that a market-based model is still the best way forward. ", (Rubin wrote in NewsWeek, 12-29-09)
 
Of course now I have to spend 5 cents to replace that penny he destroyed. He must be a poly sci major
 
Obama man FTW :banana::banana:



I strongly dislike when politicians play the number game.
:mad2:
 
mrjones said:
Not everybody disagrees with Obama's economic policies. Here's an alternative view from someone who really, REALLY likes his health care policy:

http://www.youtube.com/watch?v=KRgB2eeHZEw
Click to expand...


Im black and that s*** right there is the reason a lot of people ill never be able to be at peace with other people. You see that and your going to feel like everyone is like that. she dont work but she eating off of you. while me i got four kids and work 60 hours a week to feed them and just get by. i hate that is what is represented from "my"(YOU know what i mean) people. :mad: i think i would punch her in the face. cause not only does she not work and live off the government she most definitely is getting child support food stamps and some other stuff. cause she couldnt keep her legs closed and go to work. Sad just sad.
 
I think she was just being ignorant. Their is alot of racial tension brewing in this country brewing since the Obama election and she used it as an opportunity to just clown and insult people of other race's. She DOE'S NOT SPEAK FOR ALL BLACK PEOPLE, and, it was poor taste to bring her up as an example for anything concerning health care or anything else.
 
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At this time the economic future of this country does not look good. When I graduated from College some of my peers went to work for the Fed. The pay was 30% less but the got job security and a good retirment. Now per the USA Today and Wash Post the average Fed Salary before OT/Bonus is $73K. The average Fed job pays $11K more and provides $31K more in benefits for a total of $41K more per worker than the private sector equivalent.

I have been the founder and/or owner of 6 busnesses of which 5 were financially successful. Had my wife and I gone to work for the Feds we would have more wealth today than we earned in the private sector. Keep in mind a Civilian Fed employee has virtually no risk, no risk of prosecution or lay off or getting fired and did not have to borrow to start a busniess. The most frequent visitor to the White House in 2009 was the President of the SEIU, who represents Gov't workers and was founded by ACORN.

State workers in pay and benefits make on average $39.60 per hour which is 45% more then the private sector at $27.42!
"These salary figures do not include the value of health, pension and other benefits, which averaged $40,785 per federal employee in 2008 vs. $9,882 per private worker, according to the Bureau of Economic Analysis.
The typical federal worker is paid 20% more than a private-sector worker in the same occupation. Median annual salary:
Federal Private Difference

$66,591 $55,500 $11,091"

I used the State of LA Pension Calculator to compare it to SS. I used my own SS statement to make the comparison;
State SS
Years of service 20 45
Employees Contributions 80K 180K
Annual Salary 50K 65K
Retirement Age 55 65
Lifetime Annual Benefit 31,348 16,584

The State worker works half as long, earns 25% less and get twice as much in retirement! We the taxpayer are being ripped off!

What the State is doing is guarranteeing a 10% annual return and matching the State workers 8%. The State also is providing an annuity for your spouses life when you die to continue the 31,348 annually for their life.

The above is based on 100% of SS Benefits. My statement from SS says I will only collect 76%.

Sources - Times Picayune Editorial 3-20-10, Washington Times 3-11-10 David Dickson, USA Today Dennis Cauchon and LA State Employee Pension Benefits Webstie.

Gov't does not generate wealth, it can only redistribute wealth by charing an admin fee in the process reducing the the amount of wealth.

When I was a youth Gov't was to serve, now we serve Gov't. We have become the SLAVE and Gov't has become the MASTER.
 
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WESTTXPATRIOT said:
Im black and that s*** right there is the reason a lot of people ill never be able to be at peace with other people. You see that and your going to feel like everyone is like that. she dont work but she eating off of you. while me i got four kids and work 60 hours a week to feed them and just get by. i hate that is what is represented from "my"(YOU know what i mean) people. :mad: i think i would punch her in the face. cause not only does she not work and live off the government she most definitely is getting child support food stamps and some other stuff. cause she couldnt keep her legs closed and go to work. Sad just sad.
Click to expand...

musclemerc said:
I think she was just being ignorant. Their is alot of racial tension brewing in this country brewing since the Obama election and she used it as an opportunity to just clown and insult people of other race's. She DOE'S NOT SPEAK FOR ALL BLACK PEOPLE, and, it was poor taste to bring her up as an example for anything concerning health care or anything else.
Click to expand...

Well said! It's 2010 90% of racism isn't based on the lack of ability of different races like it was thought up until the 1940's, it's based on perception so when there are videos like that one above and programs like Maury Povich that show young black and hispanic females bringing 10 guys on the show to find the father of their child it creates a huge negative perception.
I'm also amazed how this country seams to be more racially divided with a black president, because left wing WHITE people accuse right wing and conservative white people of being racist for disagreeing with Obama because he's black rather then him being a socialist. My $0.02
 
mrjones said:
Not everybody disagrees with Obama's economic policies. Here's an alternative view from someone who really, REALLY likes his health care policy:

http://www.youtube.com/watch?v=KRgB2eeHZEw
Click to expand...

I'm going to say that the video was done in satire and humor. However only in her case, I'm sure there are people out there that actually act the way shes portraying.
Either way its ****ing annoying and it could easily make someone become racist after watching that.
 
That video was made in jest, but there are people out there with that mentality... Before the rapper Old Dirty Bastard (aka big baby jesus) died, there was video of him getting his welfare check even while he was making millions rapping. It never ceases to amaze me the mentality some people have. I didn't vote for Obama, not because he is black (which he isn't really that black anyways), but because of his LACK OF EXPERIENCE!
 
To bump this thread i have some info to share. While i support change in america, i don't want to carry change on my back. The company i work for had insurance which carried 1500 deductible,now CHANGE brought it to 5000. We had week vacation, CHANGE has no vacation. Decrease in pay is in the works. What really pisses me off is my coworker, same pay, same position gets 7000 to 8000 back for taxes almost 4 times as me. He has 4 kids and tries to sell them for dependents to others while still claiming them himself, he is legally separated so he gets foodstamps(sells them half price) and gets medicaid for himself and kids free. His girlfriend lives with him, sells her foodstamps half as well and gets free schooling as a single mother along with medicaid. I work 65 plus hours, i pay 25% tax, i work 20 less hours,i pay 16%. 20-65 hours varies. Point is i get almost punished or penalized for working more time away from my family to support them and others get rewarded for working less time, spend more time with family, get foodstamps, medicare etc. If this is the Change Obama had in mind, don't blame me if It'd rather not participate in it.
 
BAD MERC said:
People that do that with their head need to be punched in the throat!:mad2:
Click to expand...

She's a comedian check her YouTube account full of skits.

The OP vid really does help people grasp and put into context the game being played.
 
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