Is Obama beginning to 'get it' "debt unsustainable"

SteamWake · 05-15-09, 09:56 AM

Quote:

President Barack Obama, calling current deficit spending “unsustainable,” warned of skyrocketing interest rates for consumers if the U.S. continues to finance government by borrowing from other countries.

http://www.bloomberg.com/apps/news?p...efer=worldwide

Aramike · 05-15-09, 04:19 PM

Clearly, as some point he'd have to get it. Unfortunately, his "getting it" seems to me as though he's covering his ass for spending so much damned money that we don't have.

I still get a little sick to my stomach when I do the math and see was coming. The US will be fine, of course (our production power can be unparellelled when need-be), but the period of economic transition will be quite nasty.

Dowly · 05-15-09, 04:27 PM

You know what's eating your money? Afghanistan & Iraq. AFAIK, the military budget for operations in the middle-east got ~90 billion dollars bonus. Half of that money goes to Pakistan to be used to fight the taliban/al-Qaida there and the rest goes to Afgh/Iraq. IIRC, Bush gave more and more money to the military ops in Afgh/Iraq regularely after 9/11. Has anything changed there? Nope.

I'm actually abit surprised I havent seen the military budget brought up before, it's eating unnecessary cash atm.

Aramike · 05-15-09, 04:49 PM

Quote:

Originally Posted by Dowly

You know what's eating your money? Afghanistan & Iraq. AFAIK, the military budget for operations in the middle-east got ~90 billion dollars bonus. Half of that money goes to Pakistan to be used to fight the taliban/al-Qaida there and the rest goes to Afgh/Iraq. IIRC, Bush gave more and more money to the military ops in Afgh/Iraq regularely after 9/11. Has anything changed there? Nope.

I'm actually abit surprised I havent seen the military budget brought up before, it's eating unnecessary cash atm.

A lot of that money ends up in the hands of private citizens and businesses, which actually serves to help the situation.

Besides, compared to the so-called "stimulus", it's a large drop in the bucket (in annual cost) - and that drop goes largly to business.

What does piss me off about Iraq is that we should be confiscating some of the oil. With all of those people biching about "No Blood for Oil" over the years, I'm a tad irritated that we haven't taken any to compensate.

As far as whether anything has changed in Iraq/Afghanistan - I'd suggest you look to history for some perspective. Everything has changed.

Yes, the areas are unstable at best - however, this is a common demoninator of all major revolutions.

Dowly · 05-15-09, 06:49 PM

@Aramike

May I ask, to compensate what you think part of the oil should be confiscated?

CaptainHaplo · 05-15-09, 10:08 PM

Dowly, we not only overthrew a repressive, murdering dictator and GAVE them their country back, we currently are spending OUR money to help them stay safe in their streets and keep their duly elected by the people government in place as it continues to try and stabilize itself.

This does not even count the cost of the lives we have spent, not just in deaths, but in injuries that cannot be healed by medicine today.

Maybe a little appreciation in the form of resources they have, that we need, freely SHARED (as we have shared our blood and money) in thanks would be nice for once.

Its not widely known but when Kuwait was freed, the ruling family offered to pay every single soldier that participated a hefty sum - in thanks for freeing their country. Bush 1 said no - he was afraid it would make us appear as mercenaries. Our economy was doing ok at the time. These days are different - and while Iraqi parliment members CONTINUE to fight over how oil revenues will be distributed, our men and women fight and die, with resources we provided.

I dunno, think maybe there is a bit of moral debt there?

SteamWake · 05-15-09, 10:09 PM

Quote:

Originally Posted by Dowly

@Aramike

May I ask, to compensate what you think part of the oil should be confiscated?

Well it sure as hell wasent our own. For some reason we cant tap our own resources... go figure.

Aramike · 05-16-09, 04:45 AM

Quote:

Originally Posted by Dowly

@Aramike

May I ask, to compensate what you think part of the oil should be confiscated?

I'm not sure I understand what you're asking...

Onkel Neal · 05-15-09, 11:45 PM

Quote:

Originally Posted by Dowly

You know what's eating your money? Afghanistan & Iraq. AFAIK, the military budget for operations in the middle-east got ~90 billion dollars bonus. Half of that money goes to Pakistan to be used to fight the taliban/al-Qaida there and the rest goes to Afgh/Iraq. IIRC, Bush gave more and more money to the military ops in Afgh/Iraq regularely after 9/11. Has anything changed there? Nope.

Oh, I'd say things there have changed a bit.

05-15-09, 10:08 PM	#6
CaptainHaplo Silent Hunter Join Date: Apr 2007 Posts: 4,404 Downloads: 29 Uploads: 0	Dowly, we not only overthrew a repressive, murdering dictator and GAVE them their country back, we currently are spending OUR money to help them stay safe in their streets and keep their duly elected by the people government in place as it continues to try and stabilize itself. This does not even count the cost of the lives we have spent, not just in deaths, but in injuries that cannot be healed by medicine today. Maybe a little appreciation in the form of resources they have, that we need, freely SHARED (as we have shared our blood and money) in thanks would be nice for once. Its not widely known but when Kuwait was freed, the ruling family offered to pay every single soldier that participated a hefty sum - in thanks for freeing their country. Bush 1 said no - he was afraid it would make us appear as mercenaries. Our economy was doing ok at the time. These days are different - and while Iraqi parliment members CONTINUE to fight over how oil revenues will be distributed, our men and women fight and die, with resources we provided. I dunno, think maybe there is a bit of moral debt there? __________________ Good Hunting! Captain Haplo

05-15-09, 04:19 PM	#2
Aramike Ocean Warrior Best of SUBSIM Chairman Join Date: Dec 2008 Location: Milwaukee, WI Posts: 3,207 Downloads: 59 Uploads: 0	Clearly, as some point he'd have to get it. Unfortunately, his "getting it" seems to me as though he's covering his ass for spending so much damned money that we don't have. I still get a little sick to my stomach when I do the math and see was coming. The US will be fine, of course (our production power can be unparellelled when need-be), but the period of economic transition will be quite nasty.

05-15-09, 04:27 PM	#3
Dowly Lucky Jack Join Date: Apr 2005 Location: Finland Posts: 25,052 Downloads: 32 Uploads: 0	You know what's eating your money? Afghanistan & Iraq. AFAIK, the military budget for operations in the middle-east got ~90 billion dollars bonus. Half of that money goes to Pakistan to be used to fight the taliban/al-Qaida there and the rest goes to Afgh/Iraq. IIRC, Bush gave more and more money to the military ops in Afgh/Iraq regularely after 9/11. Has anything changed there? Nope. I'm actually abit surprised I havent seen the military budget brought up before, it's eating unnecessary cash atm.

05-15-09, 06:49 PM	#5
Dowly Lucky Jack Join Date: Apr 2005 Location: Finland Posts: 25,052 Downloads: 32 Uploads: 0	@Aramike May I ask, to compensate what you think part of the oil should be confiscated?