Is The U.S. Headed For Bankruptcy?

[dakota112]

BUY GOLD and vegetable seeds.

[tobee43]

The US is well past bankruptcy, however.... with the power to print money, they will pay the debt off. Our government will probably put the entire world into a depression.

And that's my optimistic opinion.

and i do agree and believe that is exactly what's happening now....

also...i'm working in my basement attempting to perfect the 100 dollar bill...i ALMOST have it down!...since that's the ONLY way i'm going to get any help!

[frogger]

The US is well past bankruptcy, however.... with the power to print money, they will pay the debt off. Our government will probably put the entire world into a depression.

And that's my optimistic opinion.

[Goteki45]

The government is bailing out union pensions, citibank, aig, freddie mac, fannie mae, sub prime home buyers, chrysler, gm and the banks, where is the working folk's "bailout"?

[tobee43]

actually, if we really study and look at our present "past"....we can combine some lethal combinations; from looking closely to government spending to, of course, we certainly cannot forget the direct connection from the result of the allen greenspan tenure ...and the allowance of the fed and it's rates...

actually, when looking back and many want to scream for LESS government control...well if at any time in our history, government should have been peeking about, it was when regulations should have been scrutinizing wall street, investor firms and the like, as well as that entire team that got rich taking our hard earn money, that we THOUGHT we were saving?

if i could have THAT money back, that the firms invested and LOST, but THEY got government bale out money, once again with MY tax money.....well then maybe i may NOT need my unemployment insurance today or tomorrow for that matter...what do you say???? once again it's an oxy moron

[banca rotta]

Get real. Like he is responsible for this mess. Here is a little U.S. civic lesson. The President of the United States is commander in chief and head of state. Like previous POTUS before him, he travels the globe with all the necessary resources needed to run the gov't. on the road. Yea, he was on a trade mission to drum up export business like all previous presidents have done so.

You need to quit blaming others for your financial failure. Our Potus is a self made successful millionaire before he came to office. He has lived with in his means.

Well Obama blamed Bush for the financial crisis and for running up the national debt. He ran up more debt in less then 2 years then Bush's 8 years, so his failure to stop doing the same thing will cause the next financial crisis only it will be much bigger.

If Obama was a real leader he would balance the budget at all costs and be prepared to be thrown out of office. By balancing the budget he would most likely cause a depression but there's more "hope" we would survive it rather then a total collapse in the currency which is almost certain thanks to his deficit spending.

[banca rotta]

Well that article tells it like it is. Those who voted for Hope and Change will see our child president continue to enjoy his vacations, while he eats cake while we have no bread. He fiddles around the World in 40 aircraft, two 747s and support while our Country rhetorically burns.

I guess we deserve the government we voted for. Soon those who have made it a 'life' to live off the "entitlements" given away by government, will be at the door of we who saved our own by saving and working. I see the day when we will have to protect what we have from those who will take.

So, hows hope and change working out for you?

This problem was actually 40 years in the making. No matter who we elected in 08 and a couple of weeks ago they have no control over this.

The reason why Mr. Hope & Change and his delusional moron sheeple are insane is because they actually think they can go on with the status quo despite the truth in this post.

Mr. Hope & Change is not only convinced he can clean up this mess, but he convinced so many and they are all in for a rude awakening.

Soon the same ones will disagree with me and the original post, but I challenge ANYONE to prove the original post wrong and to come up with a workable plan. Also please don't say "oh we must tax the rich". As it's mentioned there's the laws of mathematics and not even the tax laws on the rich can balance this all out.

[freedomnow7]

I believe in hope and change....but for myself. I need to remain hopeful and I need to be the one changing. Changing my ways, changing my attitudes, changing my perspectives, outlooks, spending habits, networks, eating habits, etc.

I don't think that anyone we could have put in office could turn the economy around within a few months or even a few years. We're in too deep and ALL of us are guilty of it. Consumerism (gotta have it now, pay for it later)...obesity (wanna super-size it)...any "ism" you can think of and WE all are guilty. I think that each one of us is responsible for ourselves and we need to WAKE UP and realize that WE got ourselves into this mess. You KNEW you couldn't afford that 500k house on a 50k per year salary, didn't you Californians?? (yes, I'm one of them). And, Mr. IndyMac Bank, you knew daggum well that I couldn't afford it!! That's why we both went DOWN. HA! Heck, California is one paycheck away from being bankrupt and on my Yahoo! Local Front page news is the "Royal Engagement" and "Snooki's New Boyfriend." Houston, we have a problem!

Obama is ONE man. Bush is ONE man. Neither one of them is/was the only one behind the curtain...but they've got company...we're ALL there with them. Every one of us!

I rely on the federal government to collect my taxes and that's pretty much it. Just like Gandhi said, "We must become the change that we wish to see." I choose to experience life prosperously, happily and beautifully. I am aware of what could happen, but I will not live in fear. Hell, even if the country does go bankrupt, what are the banks gonna do, evict 300 million people from their homes?? If they can't pay their employees, who's gonna do the dirty work? Mark Twain said, "Some of the worst things in my life never happened..." So, although I'm glad this article shed light on our country's current situation, I just can't live in fear of the future.

America is a great country. The world and all things in it is a wondrous place. Once we get the lesson that we are all one, and instead of fighting everyone and everything in it, begin to take responsibility for our own actions, we can truly all see the beauty in it.

PS - If you don't know how to grow your own food, you better learn!

[jacko]

Get real. Like he is responsible for this mess. Here is a little U.S. civic lesson. The President of the United States is commander in chief and head of state. Like previous POTUS before him, he travels the globe with all the necessary resources needed to run the gov't. on the road. Yea, he was on a trade mission to drum up export business like all previous presidents have done so.

You need to quit blaming others for your financial failure. Our Potus is a self made successful millionaire before he came to office. He has lived with in his means.

Well that article tells it like it is. Those who voted for Hope and Change will see our child president continue to enjoy his vacations, while he eats cake while we have no bread. He fiddles around the World in 40 aircraft, two 747s and support while our Country rhetorically burns.

I guess we deserve the government we voted for. Soon those who have made it a 'life' to live off the "entitlements" given away by government, will be at the door of we who saved our own by saving and working. I see the day when we will have to protect what we have from those who will take.

So, hows hope and change working out for you?

[tobee43]

Wow, this is so depressing. I think when I finally get my discharge I'm going to throw a "we're in a depression" party. I'm going to serve watery soup and have a stale bread line. Flappers are optional. You're all invited!

you are SO funny!! LOL!!! i think if you have some stale bread i can make some soupy bread pudding?? sounds like a GREAT party!! how sad is this....a depression party!

[clevelandmom]

Wow, this is so depressing. I think when I finally get my discharge I'm going to throw a "we're in a depression" party. I'm going to serve watery soup and have a stale bread line. Flappers are optional. You're all invited!

[tobee43]

Ditto--tobee--I think my vote may have gotten lost at the polls as well.

well mommi....we live in florida and this was our first time voting here...we had to do it by HAND!! it was like in the stoneages...so i'm quite certain my vote is long gone...also they allowed early voting..ok, i can go for that...however, it was TWO weeks before the election. i thought that quite odd myself..

[mommi2many]

i'm hoping my bk covered the 1.5 million i apparently owe. i don't think i listed it!

certainly these facts are not surprising, yet when you see them "written"...we know how real they are. i truly wonder where this country is going. i'm also beginning to wonder where my vote went?? i think it may have gotten lost at the polls?

thanks keepinreal...as usually a great "wake" up call!

Ditto--tobee--I think my vote may have gotten lost at the polls as well.

[wonderingrov]

Well, the government does have (at least) two advantages that we as private citizens don't have:

1) The ability to legally print money when they run out, and
2) The authority to confiscate our hard earned dollars in the name of taxation.

That being said, each time they print more money, the value of the doller lessens. That is one reason that gas, for example, was going up a few months ago even though crude oil was cheaper for a while. Also, when you factor in the fact that they can pretty much confiscate as many of our dollars as they choose just by enacting legislation, that pretty well takes up some of those lower-valued dollars that we don't have available to us to shop. Meanwhile, you have the government still wasting money on all those earmarks that Obama was going to refuse to sign into legislation. Also, when we as private citizens want more credit, we have to apply for it. With the federal government, all they have to do is enact legislation for a higher credit ceiling - and bingo - the 'government credit card max' increases.

It would be nice to have all of these abilities that the government has - many of us could have avoided bankruptcy with some of these powers.

But, alas, even with all of that, I believe we could very well end up in the same position in this country that Greece experienced recently. Many countries are finding out that the economics of unlimited entitlement just don't work. Eventually, the well dries out - it just takes longer when the well is bigger.

[bladerunner]

just a thought...during the Depression in the 1930's...I think the US had a population of about 125 million. Well now our country holds over 330 million souls and 10-20 % unemployment, underemployment, off the radar...etc...etc... well, our country is in deep &%$@@...and arrgh... as a unemployed 99er in foreclosure underwater homeowner, why hasn't tens of millions of homeowners demanded a reduction of the principal in their homes or refuse to pay their mortgages...A protest of one will go nowhere...but over 30 million of us? maybe that'll get their attention...thanks for letting me rant....now I'm trying to get some food stored at least a months supply, just in case...not "hard times"...end times...end f$%*** times...