CBO: FY2010 had second highest deficit since WWII

October 8, 2010

Today, the Congressional Budget Office (CBO) announced its preliminary estimates for spending and tax revenues in the month of September. Because September was the last month in the 2010 fiscal year, we now have a good idea of what total spending in 2010 looked like. According to the CBO’s release today:  “The 2010 deficit was the second-highest shortfall—and 2009 the highest—since 1945, relative to the size of the economy.” It was also the second highest year for spending, which totaled $3.543 trillion.

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36 Responses to CBO: FY2010 had second highest deficit since WWII

  1. Tomaji says:

    This deficit of ours was created clearly from the Banksters demanding Congress to pass the bailout for THEM – which became a HUGE DEBT. It was passed by BOTH parties by overwhelming majorities because the Banks told them if they didn’t do it, America would COMPLETELY FAIL. Another big deficit/debt is from the illegal war in Iraq that Obama is trying to get us out of – but, it’s tough once you start crap like that to reverse it somehow.
    The ONLY way out of a recession or depression is with INCREASED government spending, because they are the ONLY ones who will do that. Get it? It’s backward thinking that to stop government spending will somehow “save” the economy. Think about it more deeply. If the government ALSO stops spending and all the greedy ones with billions in the bank are NOT spending, then just WHAT will get the dollars flowing? The answer is NOTHING.

  2. Tomaji says:

    This deficit of ours was created clearly from the Banksters demanding Congress to pass the bailout for THEM – which became a HUGE DEBT. It was passed by BOTH parties by overwhelming majorities because the Banks told them if they didn’t do it, America would COMPLETELY FAIL. Another big deficit/debt is from the illegal war in Iraq that Obama is trying to get us out of – but, it’s tough once you start crap like that to reverse it somehow.
    The ONLY way out of a recession or depression is with INCREASED government spending, because they are the ONLY ones who will do that. Get it? It’s backward thinking that to stop government spending will somehow “save” the economy. Think about it more deeply. If the government ALSO stops spending and all the greedy ones with billions in the bank are NOT spending, then just WHAT will get the dollars flowing? The answer is NOTHING.

  3. Tomaji says:

    This deficit of ours was created clearly from the Banksters demanding Congress to pass the bailout for THEM – which became a HUGE DEBT. It was passed by BOTH parties by overwhelming majorities because the Banks told them if they didn’t do it, America would COMPLETELY FAIL. Another big deficit/debt is from the illegal war in Iraq that Obama is trying to get us out of – but, it’s tough once you start crap like that to reverse it somehow.
    The ONLY way out of a recession or depression is with INCREASED government spending, because they are the ONLY ones who will do that. Get it? It’s backward thinking that to stop government spending will somehow “save” the economy. Think about it more deeply. If the government ALSO stops spending and all the greedy ones with billions in the bank are NOT spending, then just WHAT will get the dollars flowing? The answer is NOTHING.

  4. justin says:

    Get dollars flowing?

    How about…getting oil flowing. Like, say…4 more Saudi Arabia’s?

    That’s what it is going to take to resume “growth”

    The way the system is set up, it’s either grow or collapse. This is a walk in the dog park. Wait until the collapse begins in earnest.

    In other news, agricultural commodities traded limit up today on major exchanges.

    A major inflection point arrived today…

  5. justin says:

    Get dollars flowing?

    How about…getting oil flowing. Like, say…4 more Saudi Arabia’s?

    That’s what it is going to take to resume “growth”

    The way the system is set up, it’s either grow or collapse. This is a walk in the dog park. Wait until the collapse begins in earnest.

    In other news, agricultural commodities traded limit up today on major exchanges.

    A major inflection point arrived today…

  6. justin says:

    Get dollars flowing?

    How about…getting oil flowing. Like, say…4 more Saudi Arabia’s?

    That’s what it is going to take to resume “growth”

    The way the system is set up, it’s either grow or collapse. This is a walk in the dog park. Wait until the collapse begins in earnest.

    In other news, agricultural commodities traded limit up today on major exchanges.

    A major inflection point arrived today…

  7. Turlough Freeman says:

    We need to create new exports and eco friendly items like toilets that turns waste into biofuel and biooil. (Invented by me)

  8. Turlough Freeman says:

    We need to create new exports and eco friendly items like toilets that turns waste into biofuel and biooil. (Invented by me)

  9. Turlough Freeman says:

    We need to create new exports and eco friendly items like toilets that turns waste into biofuel and biooil. (Invented by me)

  10. Nuge says:

    To clarify- the TARP bail out cost was detailed just this week to be down to 30 bil from orig 700 bil-
    that’s because the groups that were bailed out- under TARP- are paying back that debt, with interest

    so- that needed to be clarified for the tamji charachter above

    from there- for the masses- our system is simple- it’s based on a free market-
    the government then taxes the goods and services- and does not create anything from the market itself-

    the fact we see lenders who are now not lending- corporations that are not hiring- well that’s simply explained bc they, in each respect have no idea how extending themsleves- will effect them down river

    simply put- it’s risk taking to do either

    maybe someday- the folks who fell for the platitudes of hope and change- maybe they will realize that socialism has never been a solid approach for affording growth for the people under such systems- bottom line it sucks, and is not for us-

    reguardless- the real hard working people of this country are now well aware of what is at stake- the media is even showing it is begining- reluctantly of course- the error of it’s chosen ways- and we here now to tak back what has been basdardized, by this – the worst administration we have ever seen

    posts about illegal wars- honestly people- Obama has increased the action on that level too

    little honesty in history- economics- as well as with ourselves is what is needed for our cou try to grow again
    voter fraud needs to and will be addressed, we’ve been far to kind to ignorant and manipulative interests- here and abraod- that will be part of the real hope and change

    Enough of the social enablement- enough of the insanity

    see ya in November- were gonna take the crack pipe away- just FYI

  11. Nuge says:

    To clarify- the TARP bail out cost was detailed just this week to be down to 30 bil from orig 700 bil-
    that’s because the groups that were bailed out- under TARP- are paying back that debt, with interest

    so- that needed to be clarified for the tamji charachter above

    from there- for the masses- our system is simple- it’s based on a free market-
    the government then taxes the goods and services- and does not create anything from the market itself-

    the fact we see lenders who are now not lending- corporations that are not hiring- well that’s simply explained bc they, in each respect have no idea how extending themsleves- will effect them down river

    simply put- it’s risk taking to do either

    maybe someday- the folks who fell for the platitudes of hope and change- maybe they will realize that socialism has never been a solid approach for affording growth for the people under such systems- bottom line it sucks, and is not for us-

    reguardless- the real hard working people of this country are now well aware of what is at stake- the media is even showing it is begining- reluctantly of course- the error of it’s chosen ways- and we here now to tak back what has been basdardized, by this – the worst administration we have ever seen

    posts about illegal wars- honestly people- Obama has increased the action on that level too

    little honesty in history- economics- as well as with ourselves is what is needed for our cou try to grow again
    voter fraud needs to and will be addressed, we’ve been far to kind to ignorant and manipulative interests- here and abraod- that will be part of the real hope and change

    Enough of the social enablement- enough of the insanity

    see ya in November- were gonna take the crack pipe away- just FYI

  12. Nuge says:

    To clarify- the TARP bail out cost was detailed just this week to be down to 30 bil from orig 700 bil-
    that’s because the groups that were bailed out- under TARP- are paying back that debt, with interest

    so- that needed to be clarified for the tamji charachter above

    from there- for the masses- our system is simple- it’s based on a free market-
    the government then taxes the goods and services- and does not create anything from the market itself-

    the fact we see lenders who are now not lending- corporations that are not hiring- well that’s simply explained bc they, in each respect have no idea how extending themsleves- will effect them down river

    simply put- it’s risk taking to do either

    maybe someday- the folks who fell for the platitudes of hope and change- maybe they will realize that socialism has never been a solid approach for affording growth for the people under such systems- bottom line it sucks, and is not for us-

    reguardless- the real hard working people of this country are now well aware of what is at stake- the media is even showing it is begining- reluctantly of course- the error of it’s chosen ways- and we here now to tak back what has been basdardized, by this – the worst administration we have ever seen

    posts about illegal wars- honestly people- Obama has increased the action on that level too

    little honesty in history- economics- as well as with ourselves is what is needed for our cou try to grow again
    voter fraud needs to and will be addressed, we’ve been far to kind to ignorant and manipulative interests- here and abraod- that will be part of the real hope and change

    Enough of the social enablement- enough of the insanity

    see ya in November- were gonna take the crack pipe away- just FYI

  13. Steve says:

    Does anyone know any good sources explaining why the national debt is at the level it is?… How much TARP money atcually spent vs. what’s been repaid….How much did the Bush tax cuts take out of the US treasury….How are those cuts expected to effect the debt if extended….. How much is due to spending for Iraq and Afganistan wars……other large contibuting factors…..

  14. Steve says:

    Does anyone know any good sources explaining why the national debt is at the level it is?… How much TARP money atcually spent vs. what’s been repaid….How much did the Bush tax cuts take out of the US treasury….How are those cuts expected to effect the debt if extended….. How much is due to spending for Iraq and Afganistan wars……other large contibuting factors…..

  15. Steve says:

    Does anyone know any good sources explaining why the national debt is at the level it is?… How much TARP money atcually spent vs. what’s been repaid….How much did the Bush tax cuts take out of the US treasury….How are those cuts expected to effect the debt if extended….. How much is due to spending for Iraq and Afganistan wars……other large contibuting factors…..

  16. chris says:

    What seems to be lost in this discussing is the off balance sheet spending and lack of reform of NGO ogranizations that is going on by the government and current administration. Fannie and Freddie were pivotal in setting up the conduit for the secondary mortgage market that led to the subsequent bundling of these loans on wall street. Sure, did the private sector line up at the trough but before the late 2006,2007 when Fannie faultered due to earnings misrepesentation and players like AIG tried to steal market share they fundamental controlled the ship. Why in all of this finance reform did they not address the governement and it’s entities. Just ask yourself this, why in the world should Fannie and Freedie be a publically traded interest?

  17. chris says:

    What seems to be lost in this discussing is the off balance sheet spending and lack of reform of NGO ogranizations that is going on by the government and current administration. Fannie and Freddie were pivotal in setting up the conduit for the secondary mortgage market that led to the subsequent bundling of these loans on wall street. Sure, did the private sector line up at the trough but before the late 2006,2007 when Fannie faultered due to earnings misrepesentation and players like AIG tried to steal market share they fundamental controlled the ship. Why in all of this finance reform did they not address the governement and it’s entities. Just ask yourself this, why in the world should Fannie and Freedie be a publically traded interest?

  18. chris says:

    What seems to be lost in this discussing is the off balance sheet spending and lack of reform of NGO ogranizations that is going on by the government and current administration. Fannie and Freddie were pivotal in setting up the conduit for the secondary mortgage market that led to the subsequent bundling of these loans on wall street. Sure, did the private sector line up at the trough but before the late 2006,2007 when Fannie faultered due to earnings misrepesentation and players like AIG tried to steal market share they fundamental controlled the ship. Why in all of this finance reform did they not address the governement and it’s entities. Just ask yourself this, why in the world should Fannie and Freedie be a publically traded interest?

  19. Rod says:

    It never ceases to amaze me! How hard is it to figure out that free market and profitability is what runs the world economies. Do you really believe that raising taxes on wealthy corporations is going to solve the problems? They are not going to loose a beat. They will just pass that on to the consumer, stop expanding or hiring, hold back on investing in growth until someone gets elected that has a real interest and common sense to do what is elementary. Most people seem to still be under some kind of amnesia. Clinton rode the wave of Reagan policies until his own took effect and down we went. Bush started us back on the right track until he became powerless due to a democratic majority in the house. Oh remember now? That’s right. Liberal democrates were in control Bush’s last TWO years when we went into a free fall and took the blame for it.

    Tomaji, I bet you are over extended and are spending more than you take in. If you take in any at all. Sounds like your hand is out.

    Nuge, bravo!

    I will agree that in order for this Country to get back to where we need to is to have someone who can bring both sides together. If a candidate is not qualified to be hired by any major corporation then they should not be qualified to run this country. We should demand the truth of what is in their past. We should demand accountability. No more lies. No more scandals. Obama, sorry you have to ride on the crest of your party’s politics and poor poor decisions. Blame all you want, but realize their are alot of American’s who know the truth. How about bridging the gap and coming up real solutions instead of Nancy holding your leash. Hey Nancy, how is your state doing thru all of this? Let’s see, 4 years of control?

  20. Rod says:

    It never ceases to amaze me! How hard is it to figure out that free market and profitability is what runs the world economies. Do you really believe that raising taxes on wealthy corporations is going to solve the problems? They are not going to loose a beat. They will just pass that on to the consumer, stop expanding or hiring, hold back on investing in growth until someone gets elected that has a real interest and common sense to do what is elementary. Most people seem to still be under some kind of amnesia. Clinton rode the wave of Reagan policies until his own took effect and down we went. Bush started us back on the right track until he became powerless due to a democratic majority in the house. Oh remember now? That’s right. Liberal democrates were in control Bush’s last TWO years when we went into a free fall and took the blame for it.

    Tomaji, I bet you are over extended and are spending more than you take in. If you take in any at all. Sounds like your hand is out.

    Nuge, bravo!

    I will agree that in order for this Country to get back to where we need to is to have someone who can bring both sides together. If a candidate is not qualified to be hired by any major corporation then they should not be qualified to run this country. We should demand the truth of what is in their past. We should demand accountability. No more lies. No more scandals. Obama, sorry you have to ride on the crest of your party’s politics and poor poor decisions. Blame all you want, but realize their are alot of American’s who know the truth. How about bridging the gap and coming up real solutions instead of Nancy holding your leash. Hey Nancy, how is your state doing thru all of this? Let’s see, 4 years of control?

  21. Rod says:

    It never ceases to amaze me! How hard is it to figure out that free market and profitability is what runs the world economies. Do you really believe that raising taxes on wealthy corporations is going to solve the problems? They are not going to loose a beat. They will just pass that on to the consumer, stop expanding or hiring, hold back on investing in growth until someone gets elected that has a real interest and common sense to do what is elementary. Most people seem to still be under some kind of amnesia. Clinton rode the wave of Reagan policies until his own took effect and down we went. Bush started us back on the right track until he became powerless due to a democratic majority in the house. Oh remember now? That’s right. Liberal democrates were in control Bush’s last TWO years when we went into a free fall and took the blame for it.

    Tomaji, I bet you are over extended and are spending more than you take in. If you take in any at all. Sounds like your hand is out.

    Nuge, bravo!

    I will agree that in order for this Country to get back to where we need to is to have someone who can bring both sides together. If a candidate is not qualified to be hired by any major corporation then they should not be qualified to run this country. We should demand the truth of what is in their past. We should demand accountability. No more lies. No more scandals. Obama, sorry you have to ride on the crest of your party’s politics and poor poor decisions. Blame all you want, but realize their are alot of American’s who know the truth. How about bridging the gap and coming up real solutions instead of Nancy holding your leash. Hey Nancy, how is your state doing thru all of this? Let’s see, 4 years of control?

  22. Mike M says:

    If you look at the Japanese – what we are doing is exactly what they did. They had a bad recession and tried government spending to get them out and it failed miserably. 15 years later they were far worse off than ever! It kills me that we are taking the same road since this was brought to light and we still kept going down that road. I honestly don’t think that giving those banks all of that money was what kept us from the second great depression. There are lulls and highs and frankly I believe that had we kept doing what we were doing instead of artificially inseminating the economy we would be where we are now but without the deficit. The american public has seen through the BS of the stimulus not to mention that 75,000 stimulus checks went to DEAD PEOPLE and PRISON INMATES! Thanks NOBAMA for having a half cracked plan and never following through with the details tough guy….way to go. It’s what we get for electing a FRESHMAN from Chicago with no experience and buying the CHANGE crap. We got change alright – a whole toilet full of deficit! People keep saying that “Well at least he’s making the tough decisions…” Yeah he’s (really his cabinet) making “A” decision but he’s NOT following through on the overall outcome. “Bush got us in this mess…” That’s bullcrap b/c frankly Sadaam Insane was gassing his people with nerve gas and killing them (the 20th century Hitler) and had we not stepped in then all the Kurds would have died horrible deaths. Then there was 9/11 which had nothing to do with Bush’s original plan – he did what he had to and responded with swift action (should we have turned a blind eye?). Those wars cost money and since I’m a veteran I for one believe in defending our Homeland and aiding countries who’s dictators are murderers. That being said – if you saw half of the budget in detail it would make you throw up profusely! Demand to see the spending sheets, ear marks, grants etc for each state FIRST as this is afforded by Congress – and THEN do the same for the government LINE BY LINE. Once this happens I’m confident we can shave off a few hundred million and get the economy back on track by creating a few companies that bring technology, textile and other manufacturing where we are bleeding money on imports back to America. D.C. is all about your buddy next to you and who’s taking care of who – if not then LOBBYISTS don’t exist. Those people should be made illegal – for handing out money and literally BUYING their companies’ way into government approval and spending – the entire government needs to be OVERHAULED not the friggin HEALTHCARE system – fix a couple things in healthcare – YES…but punishing those that have worked hard by increasing our healthcare (happened last month by 25% for me) forcibly – HELL NO! This guy should be IMPEACHED totally for misappropriation of government funds!!!

  23. Mike M says:

    If you look at the Japanese – what we are doing is exactly what they did. They had a bad recession and tried government spending to get them out and it failed miserably. 15 years later they were far worse off than ever! It kills me that we are taking the same road since this was brought to light and we still kept going down that road. I honestly don’t think that giving those banks all of that money was what kept us from the second great depression. There are lulls and highs and frankly I believe that had we kept doing what we were doing instead of artificially inseminating the economy we would be where we are now but without the deficit. The american public has seen through the BS of the stimulus not to mention that 75,000 stimulus checks went to DEAD PEOPLE and PRISON INMATES! Thanks NOBAMA for having a half cracked plan and never following through with the details tough guy….way to go. It’s what we get for electing a FRESHMAN from Chicago with no experience and buying the CHANGE crap. We got change alright – a whole toilet full of deficit! People keep saying that “Well at least he’s making the tough decisions…” Yeah he’s (really his cabinet) making “A” decision but he’s NOT following through on the overall outcome. “Bush got us in this mess…” That’s bullcrap b/c frankly Sadaam Insane was gassing his people with nerve gas and killing them (the 20th century Hitler) and had we not stepped in then all the Kurds would have died horrible deaths. Then there was 9/11 which had nothing to do with Bush’s original plan – he did what he had to and responded with swift action (should we have turned a blind eye?). Those wars cost money and since I’m a veteran I for one believe in defending our Homeland and aiding countries who’s dictators are murderers. That being said – if you saw half of the budget in detail it would make you throw up profusely! Demand to see the spending sheets, ear marks, grants etc for each state FIRST as this is afforded by Congress – and THEN do the same for the government LINE BY LINE. Once this happens I’m confident we can shave off a few hundred million and get the economy back on track by creating a few companies that bring technology, textile and other manufacturing where we are bleeding money on imports back to America. D.C. is all about your buddy next to you and who’s taking care of who – if not then LOBBYISTS don’t exist. Those people should be made illegal – for handing out money and literally BUYING their companies’ way into government approval and spending – the entire government needs to be OVERHAULED not the friggin HEALTHCARE system – fix a couple things in healthcare – YES…but punishing those that have worked hard by increasing our healthcare (happened last month by 25% for me) forcibly – HELL NO! This guy should be IMPEACHED totally for misappropriation of government funds!!!

  24. Mike M says:

    If you look at the Japanese – what we are doing is exactly what they did. They had a bad recession and tried government spending to get them out and it failed miserably. 15 years later they were far worse off than ever! It kills me that we are taking the same road since this was brought to light and we still kept going down that road. I honestly don’t think that giving those banks all of that money was what kept us from the second great depression. There are lulls and highs and frankly I believe that had we kept doing what we were doing instead of artificially inseminating the economy we would be where we are now but without the deficit. The american public has seen through the BS of the stimulus not to mention that 75,000 stimulus checks went to DEAD PEOPLE and PRISON INMATES! Thanks NOBAMA for having a half cracked plan and never following through with the details tough guy….way to go. It’s what we get for electing a FRESHMAN from Chicago with no experience and buying the CHANGE crap. We got change alright – a whole toilet full of deficit! People keep saying that “Well at least he’s making the tough decisions…” Yeah he’s (really his cabinet) making “A” decision but he’s NOT following through on the overall outcome. “Bush got us in this mess…” That’s bullcrap b/c frankly Sadaam Insane was gassing his people with nerve gas and killing them (the 20th century Hitler) and had we not stepped in then all the Kurds would have died horrible deaths. Then there was 9/11 which had nothing to do with Bush’s original plan – he did what he had to and responded with swift action (should we have turned a blind eye?). Those wars cost money and since I’m a veteran I for one believe in defending our Homeland and aiding countries who’s dictators are murderers. That being said – if you saw half of the budget in detail it would make you throw up profusely! Demand to see the spending sheets, ear marks, grants etc for each state FIRST as this is afforded by Congress – and THEN do the same for the government LINE BY LINE. Once this happens I’m confident we can shave off a few hundred million and get the economy back on track by creating a few companies that bring technology, textile and other manufacturing where we are bleeding money on imports back to America. D.C. is all about your buddy next to you and who’s taking care of who – if not then LOBBYISTS don’t exist. Those people should be made illegal – for handing out money and literally BUYING their companies’ way into government approval and spending – the entire government needs to be OVERHAULED not the friggin HEALTHCARE system – fix a couple things in healthcare – YES…but punishing those that have worked hard by increasing our healthcare (happened last month by 25% for me) forcibly – HELL NO! This guy should be IMPEACHED totally for misappropriation of government funds!!!

  25. David Holmes says:

    We should require all the companies that manufacture overseas to build the same size company on the Mexican boarder in the U.S. This would create thousands of jobs and stop imports into this country. But this would take some backbone somewhere. Put Made in the USA back on everything and stop making other countries rich. Plus this would build voter belief that we can beat this.

  26. David Holmes says:

    We should require all the companies that manufacture overseas to build the same size company on the Mexican boarder in the U.S. This would create thousands of jobs and stop imports into this country. But this would take some backbone somewhere. Put Made in the USA back on everything and stop making other countries rich. Plus this would build voter belief that we can beat this.

  27. David Holmes says:

    We should require all the companies that manufacture overseas to build the same size company on the Mexican boarder in the U.S. This would create thousands of jobs and stop imports into this country. But this would take some backbone somewhere. Put Made in the USA back on everything and stop making other countries rich. Plus this would build voter belief that we can beat this.

  28. r2000 says:

    What kind of a person would believe that the rich people should not pay their full tax amount. Why should we keep increasing our deficit for more of the same no job creation and more massive bonuses.

  29. r2000 says:

    What kind of a person would believe that the rich people should not pay their full tax amount. Why should we keep increasing our deficit for more of the same no job creation and more massive bonuses.

  30. r2000 says:

    What kind of a person would believe that the rich people should not pay their full tax amount. Why should we keep increasing our deficit for more of the same no job creation and more massive bonuses.

  31. Tony says:

    Columbia, SC FAA purchases 65inch tv and 5 luxurious theater chairs for break room! Rumor has it the only way this worked was to use 3-4 different government credit cards! TV is setup and being watched as we speak! End of the year spend it or lose money! FAA corruption in action!

  32. Tony says:

    Columbia, SC FAA purchases 65inch tv and 5 luxurious theater chairs for break room! Rumor has it the only way this worked was to use 3-4 different government credit cards! TV is setup and being watched as we speak! End of the year spend it or lose money! FAA corruption in action!

  33. Tony says:

    Columbia, SC FAA purchases 65inch tv and 5 luxurious theater chairs for break room! Rumor has it the only way this worked was to use 3-4 different government credit cards! TV is setup and being watched as we speak! End of the year spend it or lose money! FAA corruption in action!

  34. Dale G. says:

    It appears our government and big business is successful at alleviating the middle class. As such, our governmental functions and bailouts can not be performed. This happens when the source of your income, tax base in this case, has been eradicated. It appears the solution is simple, tax larger corporations and the wealthy. Big business should be taxed for moving jobs off-shore, taxed for polluting and taxed again for their greed. What about wealthy individuals? Since the middle class has been made obsolete, wealthy individuals will need to step up to the plate and help big business. Of course, the poor could become indentured servants in this bailout effort for our country. Don’t forget, with the elimination of the middle class, the poor sector has grown!

  35. Dale G. says:

    It appears our government and big business is successful at alleviating the middle class. As such, our governmental functions and bailouts can not be performed. This happens when the source of your income, tax base in this case, has been eradicated. It appears the solution is simple, tax larger corporations and the wealthy. Big business should be taxed for moving jobs off-shore, taxed for polluting and taxed again for their greed. What about wealthy individuals? Since the middle class has been made obsolete, wealthy individuals will need to step up to the plate and help big business. Of course, the poor could become indentured servants in this bailout effort for our country. Don’t forget, with the elimination of the middle class, the poor sector has grown!

  36. Dale G. says:

    It appears our government and big business is successful at alleviating the middle class. As such, our governmental functions and bailouts can not be performed. This happens when the source of your income, tax base in this case, has been eradicated. It appears the solution is simple, tax larger corporations and the wealthy. Big business should be taxed for moving jobs off-shore, taxed for polluting and taxed again for their greed. What about wealthy individuals? Since the middle class has been made obsolete, wealthy individuals will need to step up to the plate and help big business. Of course, the poor could become indentured servants in this bailout effort for our country. Don’t forget, with the elimination of the middle class, the poor sector has grown!

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