6/4 Fed Chairman Wakes Up, Realizes Debt Is Bad… DOH!
Posted by Editor on June 4, 2009 · 87 Comments
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87 Responses to “6/4 Fed Chairman Wakes Up, Realizes Debt Is Bad… DOH!”The Restoring Honor Rally August 28, 2010
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The fact remains that the State is itself has become the greatest criminal, breaking every written and natural law, stealing in the form of taxes. They have made monumental errors and have no business running business. Congress no longer possesses common sense. We the people need to clean house. Congress is out of control.
These SOB's really do think we are complete idiots! Anyone with the slightest bit of common sense has been saying this for MONTHS — including me! Now that theyve got us sooooo in debt they'll "warn" us that its not good?
Theyre all starting to try to set us up to accept their idea of a TWENTY FIVE PERCENT v.a.t. tax!!
The total debt per household (federal) is $546,668. The total personal debt per household is $121, 953. That means the total debt is now $63.8 Trillion. We have not added the proposed national (socialized) health care program which is a $634 billion dollar downpayment. Nor does this include the proposed $685 billion dollar downpayment on Cap n' Trade. I wonder how our forecasts for debt have changed from OMB and the White House since tax revenue collections have gone down 44% year over year and our GDP is shrinking and not growing as much as yhe original over optimistic numbers were put out some months ago. Can we survive this enormous debt burden?
I read this as being nothing more than Bernanke wanting a record he can point back to and say "I tried to warn you".
isn't washingtons whole objective to destroy this country and economy so they are complete control. i thought that was their whole agenda. just keep chipping away. and if that is the case how can anyone actually expect washington to change their main purpose. i really don't know much about the laws. but it would seem that someone would have to hold these people responsible to the laws of this country. however it really seems as if all laws do not apply to them and no one is enforcing them. i'm just a poor bypartisian voice with nothing to lose and nothing to gain. i have no money and no children. however i am a honest, selfless person and frustrated with the lack of respect and all the selfishness in the world. the selfishness of ones own interests instead of the interests of the country. i would think there is someone who is like me and also has the money and the power to do the right thing and apply the laws to washington.
Federal reserve Chairman Bernanke is only saying this now? , well does it have anything to do with Timmy Geithner laying the balancing act of fiscal responsibility directly at Bernanke feet while he was in China. Just more CYA.
Yeah, sure — then a week or two from now, they'll be writing, then passing legislation for the bailout of California… then Michigan… then maybe another bank or insurance company will be in trouble… The only way this is going to end is if we vote out ALL of the incumbents come election time. After this election, we must do it again and again until we get this country back to the way it was meant to be. Term limits don't need to be enacted if "We The People" do our jobs.
Yeah, sure — then a week or two from now, they'll be writing, then passing legislation for the bailout of California… then Michigan… then maybe another bank or insurance company will be in trouble… The only way this is going to end is if we vote out ALL of the incumbents come election time. After this election, we must do it again and again until we get this country back to the way it was meant to be. Term limits don't need to be enacted if "We The People" do pur jobs.
The Dept of Defense may as well get ready. Their budget is about to be mutiliated since they are always the first place liberals expect to take the hit. And a Fox News headline this am quoted Obama as saying "Islam 'not the problem' ".
Now that there is no money and they can't borrow anymore? Just another ploy to try and sound like they care. Sorry gang, I'm not buying it. There is no redemption for the damage they have done.
“Unless we demonstrate a strong commitment to fiscal sustainability in the longer term, we will have neither financial stability nor healthy economic growth,” Bernanke said in testimony to lawmakers today. “Maintaining the confidence of the financial markets requires that we, as a nation, begin planning now for the restoration of fiscal balance.”
"Begin planning now"…
This is all talk with no real commitment to action. How long have they talked about reining in spending? The plans, and commitments should have been acted upon years ago. They are saying…"hey, we need to stop" but continue to move in the wrong dirrection. This is just an attempt to push this off on the next administration, congress, fed officials. They want to be able to say "see, I told you so" without making the hard decisions themselves. No one will stick out their own neck and say that we have to cut social programs, we have to create pain; and that is why I don't believe that this talk is anything but talk.
You're absolutely right.
“Unless we demonstrate a strong commitment to fiscal sustainability in the longer term, we will have neither financial stability nor healthy economic growth,”
How many ways can the obvious be stated? That sentiment of that single sentence should be so self-evident that it literally should not have to be stated. The fact that it was actually part of a testimony tells me we're in more trouble than we thought.
Minuteman, you're right. It's nothing but talk. They simply don't really have the ambition, ethic, nor probably the intellect to do anything else.
Now if only he wakes up the rest of the criminals on the hill we just MAY be getting somewhere…."may" is the keyword here.
Trust me — they're awake. They know exactly what they're doing, but they'll never admit it. Bernanke is a member of the Bilderberg group. So is George Soros, the Clintons, the Rockefellers and a large number of Europeans who control most of the government idiocy happening across the Atlantic. They are the ones who are behind the ultimate destruction of America. Have a look at this: http://www.youtube.com/watch?v=eAaQNACwaLw Sorry if the link isn't "clickable". You may have to type it out.
A constitutional committee should be called for by every citizen…. if the congress won't control itself, we can with a balanced budget amendment except in times of war DECLARED BY CONGRESS, not the president, amendments ot limit abilities of agencies to make rules that are declared constitutional without any examination by the supreme court… and finally, to establish a four party system to better reflect this nation's actual diversity. Tweedledee and Tweedledum wouldn't have a chance against real common sense parties…
This guy is on the ball ! Wow.