Rep Paul Ryan budget is bologna
 

Paul Ryan and the Repubs are trumpeting and the Liberals are screaming he will save $6 trillion from the President's budget over TEN YEARS...
The current year's ANNUAL deficit adds $1.65 TRILLION to the DEBT EVERY YEAR. and they are projected to continue for more than 10 years.
Under Ryan's budget he will add approximately $10 TRILLION to the $14.3 TRILLION NATIONAL DEBT. (1.6 trillion minus the 600 billion ryan cuts, equals an annual DEFICIT of 1 trillion.)
He takes us from the current 14.3 trillion to 24 trillion NATIONAL DEBT in 10 years! It delays fiscal collapse but it does not even come close to preventing it.That is not solution, is continues the problem. Maybe there is no solution.
God Help Us.
JJ

Get Ready!
 

Don't worry about it. The Chinese will stop lending us money to finance our runaway spending long before the national debt ever reaches that point. In fact, they've already begun reducing their holdings of U.S. debt instruments. When the Fed doesn't find enough buyers for our debt in the bi-weekly auctions, the next step is for the Fed to print more money and buy the debt itself. We've already begun to do that!

From an article in the online WorldNet Daily...

"...Having the Fed buy federal debt involves a process economists typically call 'monetizing the debt,' The way it works is the Federal Reserve prints money then used to purchase U.S. debt. That's a process most Americans would understand as using the MasterCard to pay the Visa bill....Out of nearly $2.1 trillion of net issuance by the Treasury Department, and federal agencies since June 2008, the Federal Reserve has accounted for nearly 40 percent of the total purchases, buying more than every foreign government combined...In the process of buying federal debt, the amount of U.S. debt owned by the Federal Reserve has gone from under $1 trillion in 2008 to approximately $2.3 trillion today."

We'll begin to see the effect of printing more money and the resultant even weaker dollar in an increased rate of inflation. It'll be slow at first, and then build to eye-popping inflation rates. Remember back in the late 70's...the upper teens CD rates and mortgage rates?

Get ready! When the U.S. finally gets boxed between inflation spiraling to unaffordable levels and fewer buyers of our debt, all the negotiations over what spending to cut and when will be over. Spending will have to come to a screeching halt and that will cause life-changing and immediate results for all of us. If you thought the demonstrations in Madison, WI were bad, project that into all the big cities across the U.S. It's going to happen.

Blame it on about two decades of irresponsible fiscal governance by Congresses more beholden to special interests than to either the public or common sense!

I agree with you on almost everything you said..
 

If there was no fed, we could not print money to monetize the debt. Elect Ron Paul.
The socialists in our gov will print money until everyone's savings have been destroyed. That puts everyone except the rich in the same poverty hole. Forget getting high interest on your CDs or on your stock investments to cover inflation like in the 70s. This time the fed will continue to hold interest rates to zero by printing more and more money until our money is destroyed. Some think that has always been their goal.
JJ

Criminal Behavior!!!
 

I have come to the conclusion that Congress is a useless institution that has only its own interests at heart. The people of this nation are turnips to not see this clearly. What they are doing does not BORDER on the criminal, IT IS CRIMINAL!!!!!! They have abused the American people beyond all comprehension!! The time is now for demonstrations in front of the Capital demanding their recall!!

I am normally a very relaxed, calm person, but this situation is completely out of control!!

It may not be the total solution, although after reading the editorial in today's Wall Street Journal it is clear that this is a start as Chinese philosopher Lao-tzu observed, "A journey of a thousand miles begins with a single step."
This can be that single step. I applaud Congressman Ryan's initiative - this required stepping out and leading, something that has been missing for a long time in our nation's capitol.

::BigApplause::BigApplause:

Rep Paul Ryan budge is bologna
 

I also read Paul Ryan's article in WSJ concerning the " GOP's Pathway to Prosperity" In fact I have been reading countless common sense solutions to paths back to prosperity and growth from several contributing authors in this same paper. However it appears those in the present Administration and Congress do not read the Wall Street Journal. Perhaps it is that these bloodsuckers are more apt to protect their personal interests , are spineless, or perhaps just don't have the will to act.

Where have all the good leaders gone? Must we continue to choose the best from a poor lot?

How can
 

How can Ryan's plan be a good first step when it starts out 14.3 trillion away from the goal of a balanced budget and debt, and ends up 24 trillion away from that goal?
That is like driving toward a store 14 miles from your home, and 10 minutes later being 24 miles away from the store and saying.. well that was a good first step.
JJ

"Starts out 14.3 trillion and ends with 24 trillion budget and debt" Those are not the figures paul Ryan has referenced. His belief is that his plan will cut $6.2 trillion for Obama's budget in the first 10 years, places the nation in a position to pay off the debt, reduces spending below 20% of GDP and reduces dificits by $4.4 trillion. I believe that the larger amounts are what is predicted without a remedy and the amounts ryan cites are with implementation of his plan. Budgets never lie:D

Wake up!
 

Your post is Bologna!

http://www.futureofcapitalism.com/20...l-ryan-youtube

http://www.washingtonpost.com/opinio...PlC_story.html

A more detailed statement of my point. It is not serious.. The article says adds 8 trillion and continues deficits to 2040.. did you read that..
2040
2040
2040
It is bologna..
I am a tea party supporter.. Until Republicans admit the truth, nothing serious will every be done.
JJ

Like it says in Forbes, Washington is the only place where you can increase spending but call it cuts because you wouldn't spend as much as the next guy. But Rep. Ryan plan would spend 6.2 Billion Dollars less than Obama over 10 yrs. and that still is something.

Here's Forbes link with an easy to understand chart.

http://blogs.forbes.com/beltway/2011...partner=alerts

Ryan is touting it as the Ryan-Rivlin bill. The curious thing is that Rivlin, a Democrat, does not support the bill.

Thanks but
 

Richie: Thanks for the link but please note that link does the same thing I am complaining about. It does NOT show the amount that Ryan increases the DEBT.. and that is that problem. Annual deficits matter but at some point the total DEBT becomes so large it cannot be serviced..
We can barely service our current 14.3T DEBT. QE2 has been used to serve 70% of that recently.. The FED is using our Visa Card to pay our MasterCard bill.
Under Ryans plan the DEBT goes to 24 Trillion in 10 years and even MORE after that in the following 20 years.. and that assumes you could get a congress to stick with Ryan's spending reduction program for 30 years.. FORGET IT.
I am glad Ryan is trying.. but you have to cut FAR MORE to get to balance in 5 years instead of 30 years.. you have to include BIG defense spending cuts and therefore stop our international police role, 20% ($300 billion )across the board for 5 years to get to balance, and dump the programs the fed gov has no business being in, no matter how small they are.
Ron Paul for President. You do not sign a budget or spending bill that does not do the 20%.
There will be serious pain, just like an appendicitis operation, and there is a chance of dying.. but without it, the patient dies for sure.. simple as that.

The Democrats won't even talk about spending cuts, unless you mean their screaming to the heavens that Republicans are crazy extremists, let alone actually vote on it. How much luck do you think Republicans will have in getting Democrats to talk and vote on actual budget cuts?

What would you do to get Schumer & Co. to see things your way?