Hi,
BO is full of shit! He just doubled the deficit in six weeks so to halve it would be to go back to over-spending by $700 billion per year.
I believe Harry Truman is the only president in history that actually paid down the national debt, which drove some folks in congress nuts. He could have found some way to spend the money to get people to vote democratic, instead it paid the surplus against the mortgage...what a novel idea.
Now, here is part of the dirty little secret. When they talk about balancing the budget, they overlook social security...just a little teeny oversight mind you. It will get worse in about five years when the social security expenditures exceed the amount of revenue coming in. Congress invented a new term called "off budget items" but it is money spent nonetheless. If they worked industry and did that the IRS would be all over them and likely they would be in jail.
BO would never pay off the debt, he would find some other social program to further enslave the population to the government; however under the BS guise of doing so we will hear once again that "the rich don't pay their fair share." Hell 50% of the population pays 97% of the taxes, the top 25% pay some 87% as I recall. I just heard that in New York City 40,000 people pay over 90% of the city income taxes. What are they gonna do when they leave town?
Here is how you can balance the budget. Stimulate the economy, create jobs, get welfare people off their ass and working which all will bring in more federal tax revenue to the United States. For each and every person on welfare that enters the work force you win both ways, income from taxes for the government, and less money paid out in welfare. At the same time, I heard a few years back, if they could just freeze federal spending at the current levels within five years the budget would be balanced. Clinton was lucky to be president during the internet boom and you saw just how quickly a good economy will benefit the government. He was also lucky that Gingrich would not let him piss away the money so we had a surprlus.
One final thought. Recall that Roosevelt confiscated the gold in the great depression. Basically he forced the public to sell their gold to the government for $20/oz. Once he had done that, then he decrees that gold is now worth $35/oz. Well take the additional $15 into the $20 people got paid and the SOB actually devalued the dollar by 75%, and the citizens got screwed. If we go to hyperinflation, the debtor is in the catbird seat because they are paying back loans with much cheaper dollars....at that includes the government. Now you can imagine what happens in Japan, China and the Muslim countries who hold trillions in US dollar IOU's, and we make them semi-worthless. Talk about things hitting the fan.....
Now if you are a senior like I am and have the bulk of your money in CD's for your retirement, you get screwed. All of a sudden your life savings is not good for the duration, maybe not even good until Friday. When one owns CD's he is a creditor. That is why I am quickly converting as much of my CD's as possible into gold and/or getting money offshore in investments denominated in Swiss Francs and other stable currencies.
regards,
5412
