Politics | April 14, 2009 | 19 comments

BANKRUPTCY?~WHO CARES ABOUT THE BUDGET?~ WE'LL SPEND OUR WAY OUT OF DEBT!

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akamaial
Bob Lawless, a professor at the University of Illinois College of Law, said bankruptcies could reach 1.5 million this year and level off at 1.6 million next year _ around the same time economists expect an economic recovery to begin.
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So what does congress think of debt?

http://www.americanissuesproject.org/enough

We don't care? We are going down, and we don't care? ~ WTF, who are you representing, Senator Schumer?
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19 comments // BANKRUPTCY?~WHO CARES ABOUT THE BUDGET?~ WE'LL SPEND OUR WAY OUT OF DEBT!

  • estee_arie
  • akamaial
  • estee_arie
    • 0
      estee_arie  
    • BANKRUPTCY?~WHO CARES ABOUT THE BUDGET?~ WE'LL SPEND OUR WAY OUT OF DEBT!

      this is what i thought bush's plan sounded like- they were telling us to go spend spend spend- oh they were wrong. no shit.

      good luck cleaning this mess up president obama.

    • 4 years ago
  • cyman01
    • 0
      cyman01  
    • Bush was a johnnie-come-lately when it comes to raiding the pantry..poor Obama!!! PLEASE- he knew what he was getting into when he ran for the top spot. Clinton repealed the laws governing hedge funds to give his cronies a leg up...the same laws that were enacted after the first stock market crash of 1908. history is doomed to repeat itself

    • 4 years ago
  • akamaial
    • 0
      akamaial [removed]  
    • Robroy1,
      Although Bush was minding the "store" for eight years, the "pantry" had already been plundered long before ~ and a war is being fought as well (which, by the way, was voted on and passed by Democrats as well) ~ and if you don't think you are being plundered even more with these "stimulus" packages and funding more war in Afghanistan, wait to see how it will all come due in excessive costs passed onto "John & Mary Taxpayer"
      That is you and me by the way....unless you are among the elite that is above it all?

    • 4 years ago
  • Robroy1
    • 0
      Robroy1  
    • If we could only get Bush and his crew of thieves to give up all the money the stold and wasted we would have our surplus back, poor Obama being sti=uck with Bus's mess and having to try to get us out of it after we have had our banks and people robbed by these thieves. Arrest Bush and his crew and make them return the money and then put them all in prison for life!

    • 4 years ago
  • regjoeschmo
    • 0
      regjoeschmo  
    • Robroy1:

      Obama is not so innocent, he was involved in making the regulations lax that let this whole real estate boondoggle happen, and he supported a lot of the bush doctrine while he was in senate......Not to mention his own "stimulous plans"......

    • 4 years ago
  • Kylsport
  • titvol
  • barbara3d
    • 0
      barbara3d  
    • Lots of suffering going on. All over the world.

      I believe in the American Spirit.

      Also, one of my favorite sayings from my mother:

      "get busy living or get busy dying".

      Every second we have on this planet counts and no other country does it better.

      Go Navy Seals!!! How many countries would have the testosterone to do that...? France, any part of Europe? Russia or China? thats a "no".

      Jahbini :

      You have youth on your side. We had planned a lovely retirement after selling some commercial property and residential. But, NO BUYERS; now we are working harder than ever. Lots of laid off people are out doing Volunteer work. Don't Isolate....I did that for a while after my lay off and found myself in a depressive state. Once I get out amongst my family, friends, even going to the grocery store lifts my spirits.

      " I am only one; but still I am one.
      I cannot do everything,
      but still I can do something;
      I will not refuse to the something I CAN do"

      ~Helen Keller

    • 4 years ago
  • Rollins_212
    • 0
      Rollins_212  
    • Let the bankers go unsupervised and lend to people who can't pay it back. Then create new types of risky debt to fuel the whole thing. Add a president running government who hates government. What a shock.... we're all f*!cked.

    • 4 years ago
  • regjoeschmo
  • cyman01
  • akamaial
  • jahbini
  • akamaial
    • 0
      akamaial [removed]  
    • There is only one way ~ if you have the means to pay, it's yours, if not, than you do without ~ funny thing, that concept has worked for centuries ~ go figure, huh?

    • 4 years ago
  • cybexg
    • 0
      cybexg  
    • akamaial:

      Strange, that's not true. Most successful companies actually start in debt and nearly all have at some time or another been in debt.

      The problem w/ these simplistic approaches is that they (popular or not so popular rhetoric) ignore basic business principles.

      Debt is a Tool that comes w/ known risks, costs, and benefits.

    • 4 years ago
  • jahbini
    • 0
      jahbini  
    • If you want success, it will happen in the future. (cause it ain't happening now). So tomorrow will have to pay for today. In other words, you got to borrow from the future.

      Or we just find a better way. Got any ideas Al? Cause I am not coming up with anything that works.

    • 4 years ago
  • bbar
    • 0
      bbar  
    • jahbini:

      I have an idea: keep the government out of the private sector and let the market fix itself. Resources need to be reallocated to sustainable lines of productions. Government interference will only add more confusion to the market and add more time for it to rebound. Consider as an example the great depression, 1920s Japan, 1990s Japan, the Marshall Plan's effects between 1947 and 1955, etc...

    • 4 years ago
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