What would you life be like if you won 25 million dollars? Ah the good life....
Now let's look at a Trillion dollar debt. How long would it take a person to spend a Trillion Dollars? Think about it a TRILLION DOLLARS...
Can we even understand the number? I know I cannot.
Let's break this down into something, perhaps, we all can at least have an idea of.
If you could spent 1 million dollars per day from the first birthday of Christ (2000 years ago) by this date of 2009 you would still not have spent the full 1 trillion dollars.
I personally don't care if you are D or R... this insane debt tells me both parties are out of touch with reality.
Olds
A long time ago Washington rejected our reality and substituted their own, IMHO.
The President is coming to visit my town on Monday as we have the highest unemployment in the country. I hope he brings some of the trillion dollars with him and gives it to people who need it. This whole bailout isn't helping the little guy. It's helping corporations and those corporations are not turning the money into jobs. They're just lining their pockets. I'll bet if he gave every unemployed person $50,000, the economy would react better than all the money their giving out to everyone else. However, it's not like I expected any change from what has always been the status quo.
Olds I hear ya, but my lips are sealed. :-X
I got in trouble last time I opened my mouth and I'm still on the black list. ;)
Here is a bit of perspective on the number One Trillion:
One million seconds ago was 10 or 11 days a go
One billion seconds ago was during the Nixon administration
One trillion seconds ago was 30,000 years BC :o
To update William Proxmire by a factor of 1000 - "A billion here, a billion there, pretty soon your talking about real money".
A $Trillion more and I'll be halfway done with my remodel up here!! :-\ :'( ;)
Quote from: Smoking Duck on February 07, 2009, 11:33:49 AM
This whole bailout isn't helping the little guy. It's helping corporations and those corporations are not turning the money into jobs. They're just lining their pockets.
Funny this topic has come up - I'm about a third of the way thru reading the House Passed Version of the Bill HR-1. I should be from Missouri. Hearing the various $ amounts being attributed to this bill, I wanted to add the numbers up myself. Heaven forbid should a reporter actually do this! This thing is 678 pages long - more than an enjoyable afternoon read! I have found out part of the reason why is that there is some open ended spending. I won't make many comments on my opinion of how this money is being spent, except this is less of an economic stimulus bill as it is a
government growing bill (I think I'll just sit here and cry). So in some (many) ways it is for the little person. i.e. at least $4 bil is going to Workforce Investment Act (job training) which doesn't sound bad, however, what jobs are they training people for? Most jobs are going overseas, and I don't foresee any change to this with the additional and costly burdens put on by this bill and other bills on down the line. I think but can't find right now a little money (few million - paltry amount) going to trying to increase demand for our exports - and international recessions sharply decreasing demand for our goods already. The problem is that by the time that the government has paid for all the new reporting and oversight, etc... - what gets down to the little person is minimal (probably). Extremely inefficient way of dong "business." I was having a conversation with a very young pastor in charge of an urban ministry I'm going to get involved with. He was excited about the panacea of "promised federal funding" to help with his ministry. I first reminded him that this was a church funded ministry and the church shouldn't be getting involved in the restraints of federal funding. I further told him that as one of the 145,000,000 (+/-) taxpayers that actually pay taxes, that if this bill did not pass, I would give his ministry the $6000 that this plan is likely to cost me. Better rate than what the government could do!
Quote from: Smoking Duck on February 07, 2009, 11:33:49 AMI'll bet if he gave every unemployed person $50,000, the economy would react better than all the money their giving out to everyone else.
Amen to that brother! Or even $6000 to each and every tax
payer! In a nutshell, the problem, as I see it, is that Americans (and companies), in trying to sustain a certain standard of living - did it by borrowing, and borrowing, and borrowing, and ...... When they couldn't borrow anymore - the bottom fell out. There has to be a repaying or pardon of some of this "debt". I'm just not convinced that this type of spending will do this. The historic drivers of strong recoveries are housing and autos - I just don't see them leading this time. If most of what you are doing is increasing gov't spending, how will this help these two industries? This bill appears to be trying to do it in a
small way, with environmental and technology spending with some infrastructure spending. However, there has already been large amount of infrastructure capital investment in the last two decades - how much more "needs" to be done? That is the kind of spending that helped out in the 30's. However, after the recovery really started rocking the boneheads decided to raise taxes. Guess what happened then. DUH! Recovery stopped and recession began.
SIGH - oh well!
Shakespeare
The Bard of Hot Aire
Threadkiller Extraordinaire'
Quote from: Caneyscud on February 09, 2009, 08:38:13 AM
.... I was having a conversation with a very young pastor in charge of an urban ministry I'm going to get involved with. He was excited about the panacea of "promised federal funding" to help with his ministry. ...
Your young pastor's eyes should also be reading the bill instead of looking up to Washington for manna....if he did, he'd see things like this ( http://www.onenewsnow.com/Politics/Default.aspx?id=411848 ), which, as a man of the cloth, should have him VERY concerned about the passage of this guv'ment rapid growth plan... :o
Good article from Bloomberg today...
http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok (http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok)
The stimulus package the U.S. Congress is completing would raise the government's commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation's home mortgages.
Quote from: Buck36 on February 09, 2009, 03:56:24 PM
Good article from Bloomberg today...
http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok (http://www.bloomberg.com/apps/news?pid=washingtonstory&sid=aGq2B3XeGKok)
The stimulus package the U.S. Congress is completing would raise the government's commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation's home mortgages.
OUCH....OUCH.....OUCH.....OUCH....OUCH
That's $60,000+ over and above everything else from everyone who actually pays income taxes. I don't make that much to pay that!!! I have approximately $1200.00 to pay off my mortgage. When I get my Income Tax refund it gets paid off. I hate to be a crier, but I don't understand why somebody like me has to pay off somebody else's stupidity and pay for their greed! It really galls me. Went through at least 2 bad economic times and 5 layoffs during the time of my mortgage. Never missed a payment. Why do I have to be punished for the excesses of others! Is this the new U.S.? Is this the "change" some of you voted for? Thank you all for letting me vent a little.
Shakespeare
The Bard of Hot Aire
Threadkiller Extraordinaire'
Obama ran his campaign on the promise of HOPE. His speech last night gave us the promise of DOOM if this package isn't passed. To me that's the promise of FEAR.
Our government is being raped. Our government has no money as is so where is another trillion coming from. Our government is being destroyed to the point that we will have to accept a global economy, a global government. The promises to the taxpayers are minimal, where is the rest going? All the rest is going back into the government.
Is the Federal Reserve going to print more paper money that is worthless? A major terrorist organization.
Get rid of the Federal Reserve which is not part of the government but owned by the few major banks.
Get rid of the IRS which is against the Constitution and illegally formed. A major terrorist organization 16th Amendment.
How many more tent cities are going to pop up?
Obama, stop spreading FEAR on us, what happened to HOPE and CHANGE?
Anyway I look at it this is a phone stimulus package that is being forced upon us.
My humble opinion. >:( >:( >:(
I am trying real hard to restrain myself in the political arena. The only good I can see as a result of all this mess is a big wake-up call for the American Voters. It pays to be an informed voter and use a little common sense in ones selection of political representatives.
Maybe more people should have thought about that eight years ago. :o
More like the past 20 or so years.
As an after thought and so that nobody jumps to the wrong conclusion, my post above is NOT in reference to the President, but rather the house and senate folks that tend to lack forethought on the bills they write and tacking on garbage that should not be there.
and the three men i admired most,
the father
son
and the holy ghost,
they caught the last train for the coast......the day...the music died.
IMHO
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation.
You cannot multiply wealth by dividing it."
~~~~~ The late Dr. Adrian Rogers, 1931 – 2005 ~~~~~
The way I see it is we've bailed out the banks and what has that done to stimulate the economy? Nothing. We've bailed out the auto companies and what has that done? Nothing. Now, imagine (since they're going to give out the money regardless of whether we like it or not) if they paid off 90% of the mortgages, what effect that would have on the economy? 90% of America would then be free to take that money that they've been using to pay their mortgage and put that back into the economy. I believe that would be the fastest way to stimulate the economy and spur job growth. However, that is simply a pipe dream. The government will not doing anything to help the lowly homeowner. They'll do everything to help big business and we'll get exactly what we get every time. Nothing. It is time for thinking outside of the box. All politicians ever do is the same thing over and over again. Those who learn nothing from history are doomed to repeat it and quite frankly, there is not a better organization at doing this than politicians.
I could get into a long post here but I will not. What pisses me off is we pull down a credit score of something over 840!!! But our long time bank (which recieved millions in tax dollars) has wacked our credit line by 150K and wants the new one secured with our equipment.
Basically I told them to *uck off, to kiss my *ss, but they could keep their new blow job!
We have NEVER been late in a payment in our business history. We carry a minimun balance at any one time that is at least 100K. We peak several times per year over 250K.
Talk about bullchit...
I gave my word to that bank that as long as we had a business loan with them I would not change banks. I have one small loan of 20K. I've been thinking of just paying it off and moving to a new bank.
I'd write a letter to the bank and tell them of your plans to do just that unless they come to their senses. What have you got to lose? Did you see when all those Big Bank CEO's were on Capitol Hill and one of the politicians asked all those who had raised their interest rates after the taxpayers had bailed their banks out to raise their hands? Every single one of them raised their rates after the very same people that were doing business with them gave them the money to stay afloat. That's truly the case of biting the hand that feeds you.
Quote from: Oldman on February 13, 2009, 03:53:57 PM
I could get into a long post here but I will not. What pisses me off is we pull down a credit score of something over 840!!! But our long time bank (which recieved millions in tax dollars) has wacked our credit line by 150K and wants the new one secured with our equipment.
Basically I told them to *uck off, to kiss my *ss, but they could keep their new blow job!
We have NEVER been late in a payment in our business history. We carry a minimun balance at any one time that is at least 100K. We peak several times per year over 250K.
Talk about bullchit...
I gave my word to that bank that as long as we had a business loan with them I would not change banks. I have one small loan of 20K. I've been thinking of just paying it off and moving to a new bank.
I'm behind ya Olds. I have absolutely no compassion on anybody that if you let them would lend your own money back to you at a rate up to 1000% or more than what they pay your for it.
Additionally, it was their greed and stupidity that got us where we are today. They did not 'have' make all those 'bad' loans. They could have opted out. And now after bailing them out, they are making it super hard to get this thing started again. You bring a deal to most around here and they will require 25 to 35%. Ain't many developers with that kind of green. And even if they did, not many would take the risk with their own money. Construction is dead because of the bankers. Went out into the gulf today on a fishing trip and the guy I went with told me even if he wanted to buy a new boat, he couldn't - the banks will not lend money on boats right now.
Shakespeare
The Bard of Hot Aire
Threadkiller Extraordinaire'
Shakespeare