Click here for an economic cheat sheet of all 50 states (updated: September 7, 2010)
© Bankrupting America. All rights reserved
Click here for an economic cheat sheet of all 50 states (updated: September 7, 2010)
© Bankrupting America. All rights reserved
Obama is doing a great job! He has destroyed capitalism and has replaced it with socialism. Thanks! Cuba here we come!
if i spent money the way the government does they would say i am irresponsible. and stop bailing out the banks, if they had worked with their clients they wouldn’t be in the hole.
Sugarmoon,the whole problem is that the banks DID work with their clients…they helped them to move into houses they couldn’t possibly afford to pay for. Accounting 101 never purchase a dwelling costing more than 3 times the annual salary of the lowest paid adult in the household. Banks do NOT WANT to own houses. The banks money is equal ONLY to the amount of the depositors and investors willing to trust them. If those banks put up 90% of the purchase price for a 100,000 dollar house and are then force to repossess, They pay the lawyer fees and court costs,sales cost and if lucky get 50% back of loaned amount the bank loses almost 60,000 dollars on their investment in your word. Stop blaming the banks for the forced govt. policy and regulations to loan money to people who can’t pay it back.
Wow! I feel physically sick!
Well said, mtpockets.
Makes you think or at least want to vomit. Absolutely disgusting waste of money that hasn’t stimulated the economy or saved jobs. The time for a second American Revolution is fast approaching, with us replacing our current system of government with one that actually is fiscally responsible. We have to stop spending money we don’t have for things that we don’t need. How many hospitals could we have built with 862 billion dollars? Or replaced the crumbling roads and bridges we drive on daily? Maybe some new nuclear power plants and other alternative energy sources so we’ll stop being dependent on foreign oil? We will continue to get the government we deserve if we continue to reelect these crooks and let them continue bribing us with our own money.
Look, I really don’t want to make any of you feel foolish. But If I were to ask you who you thought the real enemies are of this place we call “America”. Which errantley and all to often mis-defined as a “Democracy” which hasn’t been the case since the real financial collapse of “America” occured in the late 1800″s. Every thing the early “Americans” with thier determination to cause and create a “Better Nation” was lost, taken away. And now all thier work and sacrafice has been erased. read some of thier works, thier intentions. They certainly were’nt perfect e.g treatment of indigionus tribes, slavery, elitism etc. We actually live in a “Pluralistic Corporate Oligarchy” That have over the last two centuries turned global. So who is the enemy of our percieved freedom? Who, more than any other influence controls our national and global destinies? Who are the only tangible real history causing entities that truly rule your life and your childrens life? Look at real history, not the engineered version, were all taught in schools yes even our higest level schools. Sit and ponder for only a moment and you might figure out that it is really way beyound silly partisan politics and story book religion! Wow! what we could have been and what we might still be if and only if we become causes, participating causes in our destinies! But we won’t we’ll just sit back ,turn on the tv, drive to work and listen to our wonderfully “Democratic” voice of the people on our well engineered air waves! Yee ha America! what the founding fathers might say!
TaterSalad can you compare and contrast capitalism, socialism, communism, fascism, and national socialism?
Last time I checked Cuba is not a socialist country its straight up communist for the next 5 months.
Communism is complete government control of all markets. The state owns your house, owns the ice cream shop and everything.
Socialism while is long and complicated is pretty much things deemed too important for private industry to control or private industry has no desire to control the state rules it.
Such as our roads which are essential to interstate commerce.
School while i detest many public school systems the private industry wouldn’t be able operate for free. True all us land owners pay property taxes but even welfare kids are entitled to a free education.
Fire departments up until around 100-120 years ago most fire departments were private for profit companies. The problem with that as if your neighbors house caught on fire it would burn yours down too if they didn’t pay the fire department.
that said we cant stimulus our way our of this recession we need private jobs. Even a private company that has only government contracts do not count as private jobs.
I believe in investing in America. I have no problem with the best health care program for everyone who pays for it based on their income. I think the plan for new roads, bridges etc., is great and about time. We have spent over 1.5 TRILLION DOLLARS IN WARS WE HAVE NO BUSINESS BEING IN and how are we better for it? Thousands have loss lives, and thousands have changed their lives forever. For what? I honor them but wish we took a different direction in solving our problems. I wish the money we spent would have been used to secure our borders, healthcare, roads, bridges etc. It seems to me people who support the wars have no problem spend the money for that cause, but when it come to spending money to invest in America and Americans it is always a different story. There are jobs available but why work when you can collect money from the government? I wonder what the percentage of people collecting could work for a living? I think that we should change unemployment to a jobs program. Make people work for their money. I would bet there is a small percentage of Americans who can not, due to physical or mental reasons. I think people who fraud the government should pay penalties, and jail time. Our government programs have made us weak.
Interesting and sobering facts, and most certainly ample causes for concern. If you wouldn’t mind too terribly,
would you please find room for a few lines regarding defense budgeting? I’d appreciate it. Just a few lines dedicated to the Osprey project, for example, and the sobering fact that the average defense contract goes 40% over budget would be a good start. And while we’re at it, mentioning that the “Greatest Generation”‘s top-tier tax rate was 90%, us Nixonian Republicans got by just fine on a top-tier rate of 70%, and maybe a hint that even Reagan would probably be appalled by 35% rates would go a loooong way toward defusing the “We are total fruit-loops” image we seem to be cultivating of late. No one is buying the “Lets have another tax cut for the rich” line. Even old Republicans like me think it’s a load. This is supposed to be a “non-partisan”(Winkwink) sight, right? Thanks. And keep up the good work.
(P.S.- Knocking science and infrastructure funding isn’t going to win anybody over. It just makes us look crazy.)
my thought is an american revolution is long over due! America needs to spend money here.Take a look at New Orleans. That mess should have been taken care of a long time ago,but no matter what official you speak with it’s always some other government agencies fault that it hasn’t been getting done. a government agency is a government agency, no matter what name you give it.yes it is time we the people stood up or ourselves.I don’t have the answer how,maybe if more of us unite,instead of sitting back and saying “yeah we need a change”.We have to be the change. Somehow…This is getting ridiculous.
Top 3 most expensive government programs are Defense, Social Security, and Medicare. If you wanna cut Washington spending cut these programs down to size. Lets NOT extend bush tax cuts to help pay down our Bankrupt America. These are realistic solutions.
Start with the programs that this government has put in place and failed with. When I witness over 50% of my tenants selling their food cupons for pennies on the dollar so Mommy or Daddy can hit the local bar for extra drinks or purchase cigaretts or other NON-needs instead of putting food on their childrens plates, I can clearly say that the program is broken. Can our government fix broken programs such as this? Answer: Hell no! Year after year government stands and watches these failed programs only get worse while our tax dollars are scattered about like play money and Im a bit sick of this game of Monopoly! What to do? The government needs to hire an outside company…..that’s right a real company that acts and runs like a true blue company in every capacity that will work to fix the problems and manage day in and day out business. Can you imagine a company that would actually monitor how the tax payers money is actually being spent. Why would this company do it? Because that company is incentified to return a profit; a task government is not worthy of!
Sugarmoon:
The banks only did what the US Gov’t House Representatives, e.g. Barney Franks, forced them to do. They had to lend money to people without proof of income, no credit, inability to pay, etc.. because of the gov.. They also had to lend additional amounts of money over and above the appraised value of the property.
Years ago, you could not get a house loan for more than 25% of your income after debt. An example is:
You make $5000 per month; you owe $1000 per month; you can qualify for a loan of 25% of $4000 or $1000 per month.
Congressional members pressured banks to throw that out. Loans began to be made up to 75%.
That would be a payment of $3000 per month. Of course, that is a plan for failure, and now the banks are being asked to overlook the non-payment and not to foreclose. That is a plan for bank failure