$2 trillion higher deficit projected

Oooooppps, this don't look good...

Quote :

AP sources: $2 trillion higher deficit projected

By JIM KUHNHENN and ANDREW TAYLOR Associate Press Writer | Posted: Friday, August 21, 2009 5:35 pm

WASHINGTON | The Obama administration expects the federal deficit over the next decade to be $2 trillion bigger than previously estimated, White House officials said Friday, a setback for a president already facing a Congress and public wary over spending.

The new projection, to be announced on Tuesday, is for a cumulative 2010-2019 deficit of $9 trillion instead of the $7 trillion previously estimated. The new figure reflects slumping revenues from a worse economic picture than was expected earlier this year. The officials spoke only on the condition of anonymity ahead of next week's announcement.

Ten-year forecasts are volatile figures subject to change over time. But the higher number will likely create political difficulties for President Barack Obama in Congress and could create anxiety with foreign buyers of U.S. debt.
http://nwitimes.com/news/local/article_7a49624a-8ea3-11de-b1b7-001cc4c002e0.html

...guess this may affect the ol' popularity numbers.

LoisLane wrote:

I got to thinking today, what is really wrong. It's wrong sending money we don't have to Africa, etc.

It is wrong that without our input, the politicians have no state limits unlike the Feds when running for office, to accumulate money (fun, yes, fun-raising, not FUND raising), to only resort to that to defend themselves when caught cheating the system.

Everyone from the white house, to state officials, local officials, reps of non-profit have been caught stealing and benefiting themselves while "cheating the system".

I see our country forks out millions/billions to undeserving countries. Likewise, so do the celebrities. They seem to be wanting to save the world, supporting suppressed countries by contributing money, or adopting, just for the spotlight.

Spotlight, I say, because look at Katrina...not many notable persons, including Bush, ran down there.

But, within the same time frame, you heard of Madonna, or other celebrities stealing the spotlight with nannies, adopting children from foreign countries. I have less respect for them for adopting from those countries, than helping our own.

And when you want to sum things up, and boil it down...our government outsources manufacturing jobs (where are their morals?), and they outsource nothing compared to what we pay for them to import. Especially for inferior products, later recalled. Why can't we close the borders up, tell them to buy forom us...since we're incidentally, taking on more and more illegals?

There is a host of issues out there. I have one beef, and one big beef....we are NOT going to solve this health issue ever. Why? We treat more illegals better with no regard to credit, than those that care about their credit and avoid those bills that may steal from what they own.

Until we close the borders, return manufacturing, rein in the medical expenses for those that do not belong here, we will never recover. Oh, I heard we are not to turn away the illegals, the indignant.

The gov't pays people like my Uncle not to farm. Enough to stick money in his pocket and run a nursery....our family was always into farming. I love my uncle, he's the white Bill Crosby in the family...but I hate it that he gets paid to do nothing but make more money. And he's a tight butt, to top it off. But. he is embarrassed to say, "I get paid not to farm". Acres and acres of land in MO, but we import fruit and vegs from Mexico. My uncles and cousins continue to farm on the outside. Canning fruits, vegs, and freezing them, too. Because they know they don't have to put chemicles on them, and we exchange thru the family. How does this help the economy? Almost everyone I know from Missouri and Michigan grows their own fruit and vegetables. I pay way less for organic vegetables. Who looses? The Americans.

We were in one war that was to end. Now we are in another country, Afghanistan. Why? It's a civil war. Where is Obama now?

What good is war? For what?

We need to close the borders, deport the illegals before we can even think of reform.

Our government pays America NOT to farm here!

We import more than we export...we are now in another war that is against what Obama proclaimed to eliminate during his campaign tenure.

We are trillions more in debt, no relief in sight.

I say, if you want a solution, don't bother with even health reform, which will cause more and more layers of government oversight.

I can go on and on...all I know is that President Regan said something to the effect that if you want something "eternal, you can join a gov't program".

I say, if you want a perpetual, do-nothing job, having been there and have the "ties", get your piece of the pie...join your local patronage army of politicians. "See no evil, hear no evil, speak no evil".

You'll eventually feel it, though. Whether an insider looking out, or an outsider looking in.

Term Limits for ALL elected officials......too many lifers.

Ooooopppps, I guess we didn't count on this...

Quote :

Millions face shrinking Social Security payments
By STEPHEN OHLEMACHER, Associated Press Writer Stephen Ohlemacher

WASHINGTON – Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. That hasn't happened since automatic increases were adopted in 1975.

By law, Social Security benefits cannot go down. Nevertheless, monthly payments would drop for millions of people in the Medicare prescription drug program because the premiums, which often are deducted from Social Security payments, are scheduled to go up slightly.

...this will probable hit you right in the old wallet, eh Art?

LoisLane wrote:

Ooooopppps, I guess we didn't count on this...

Quote :

Millions face shrinking Social Security payments
By STEPHEN OHLEMACHER, Associated Press Writer Stephen Ohlemacher

WASHINGTON – Millions of older people face shrinking Social Security checks next year, the first time in a generation that payments would not rise. The trustees who oversee Social Security are projecting there won't be a cost of living adjustment (COLA) for the next two years. That hasn't happened since automatic increases were adopted in 1975.

By law, Social Security benefits cannot go down. Nevertheless, monthly payments would drop for millions of people in the Medicare prescription drug program because the premiums, which often are deducted from Social Security payments, are scheduled to go up slightly.

...this will probable hit you right in the old wallet, eh Art?

No Art, my parents who planned their future, the decline in their investments for their future..money set aside for us kids through the banks money set aside for them....money set aside for the cancer treatment which should have been voluntary. Instead, it was cut. By members of congress.

Where is the VA?

He stayed behind after WWII to protect...now he is suffering from cancer. Instead of the VA, he pays out of his pocket. What an insult. I mean, with Bc/BS (bullshit insurance), he still pays. Gladly, with a bald head, and tons of neighbors...but I am angry at the gov't for turning a head or blinking eyes at the true heroes.