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Gregg: This country will go bankrupt

Sandhusker

Well-known member
WASHINGTON (CNN) – Even though he was almost a member of the new Obama administration, New Hampshire Republican Judd Gregg Sunday slammed President Obama’s approach to handling the country’s fiscal outlook.

“The practical implications of this is bankruptcy for the United States,” Gregg said of the Obama’s administration’s recently released budget blueprint. “There’s no other way around it. If we maintain the proposals that are in this budget over the ten-year period that this budget covers, this country will go bankrupt. People will not buy our debt, our dollar will become devalued. It is a very severe situation.”

Gregg, known as one of the keenest fiscal minds on Capitol Hill, also told CNN Chief National Correspondent John King that he thought it was “almost unconscionable” for the White House to continue with its planned course on fiscal matters with unprecedented actual and projected budget deficits in the coming years.

“It is as if you were flying an airplane and the gas light came on and it said ‘you 15 minutes of gas left’ and the pilot said ‘we’re not going to worry about that, we’re going to fly for another two hours.’ Well, the plane crashes and our country will crash and we’ll pass on to our kids a country that’s not affordable.”

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The floor is now open to rebuttle from the Obama supporters.
 

don

Well-known member
he's right but it's not just this administration. bush senior was right about reagan voodoo economics and how reagan dealt with the early eighties recession is what's brought us to where we are now. the past is what makes the present. the real challenge is how would anybody deal with the economic mess keeping in mind the implications of any or no action. already there are posts about civil unrest. expect to see a lot more guys going postal as job losses increase.
 

Sandhusker

Well-known member
You don't fix things by doing more of what caused the problem. That is exactly what Obama is doing. He's not concerned so much with the economy as he is installing socialism in this country. Socialism will wreck even a healthy economy, and we're not healthy. This guy has got to go.
 

Mrs.Greg

Well-known member
Sandhusker said:
You don't fix things by doing more of what caused the problem. That is exactly what Obama is doing. He's not concerned so much with the economy as he is installing socialism in this country. Socialism will wreck even a healthy economy, and we're not healthy. This guy has got to go.
REALLY....and just how do you propose that????? Seriously I want to know this......"if' he gets takin out YOUR country will never ever be the same,talk about civil unrest,it will be war,pure and simple!!!!!!!!!!!
 

Sandhusker

Well-known member
Mrs.Greg said:
Sandhusker said:
You don't fix things by doing more of what caused the problem. That is exactly what Obama is doing. He's not concerned so much with the economy as he is installing socialism in this country. Socialism will wreck even a healthy economy, and we're not healthy. This guy has got to go.
REALLY....and just how do you propose that????? Seriously I want to know this......"if' he gets takin out YOUR country will never ever be the same,talk about civil unrest,it will be war,pure and simple!!!!!!!!!!!

Impeach him and deport him back to his homeland in Kenya. Follow the law and there should be no war.
 

Mrs.Greg

Well-known member
Sandhusker said:
Mrs.Greg said:
Sandhusker said:
You don't fix things by doing more of what caused the problem. That is exactly what Obama is doing. He's not concerned so much with the economy as he is installing socialism in this country. Socialism will wreck even a healthy economy, and we're not healthy. This guy has got to go.
REALLY....and just how do you propose that????? Seriously I want to know this......"if' he gets takin out YOUR country will never ever be the same,talk about civil unrest,it will be war,pure and simple!!!!!!!!!!!

Impeach him and deport him back to his homeland in Kenya. Follow the law and there should be no war.
OMG...... :shock: You really do live in WTF Nebraska,theres NO WAY at all,no matter HOW he leaves office before his time that war in your country will not be declared....NO WAY at all.....NONE!!!!!!!!!!!!!!
 

Mrs.Greg

Well-known member
Sandhusker said:
Was there war after Nixon was booted?
Was Nixon,the little crook ever even liked let alone loved......obviously a large population of your country LOVE Obama,like it or not.....boot him......come back and tell me if I was right. The Rodney King riots will look like a kindergarten play next to Obamas leaving!!!! You WILL have a war on your hand!!!!!!!
 

CattleArmy

Well-known member
Mrs.Greg said:
Sandhusker said:
Mrs.Greg said:
REALLY....and just how do you propose that????? Seriously I want to know this......"if' he gets takin out YOUR country will never ever be the same,talk about civil unrest,it will be war,pure and simple!!!!!!!!!!!

Impeach him and deport him back to his homeland in Kenya. Follow the law and there should be no war.
OMG...... :shock: You really do live in WTF Nebraska,theres NO WAY at all,no matter HOW he leaves office before his time that war in your country will not be declared....NO WAY at all.....NONE!!!!!!!!!!!!!!

He's the mayor of WTF Nebraska actually. Evidentally it's run out of some bank chain. :wink:


Ok being serious now I don't think anyone has an answer to our economic situation. It's a huge mess and how does any country jump start an economy in such distress? Sandhusker since you seem so full of doom and gloom just what do you think would help our economy since everything that is currently trying to be done is wrong?
 

kolanuraven

Well-known member
Sandhusker said:
Was there war after Nixon was booted?


My god you are a ' needy' person. Me, me, me,now, now, now.................. :roll: :roll: :roll:


The man has been in office LESS THAN 60 DAYS!!!!


Now you might be able to create ' miracles' in your little banking world, that you seem to run out of your house now :roll: :roll: , but I'd say it's safe to say that Mr Obama has a bit bigger deal to work and worry over than you do in WTF Nebraska!!
 

Sandhusker

Well-known member
Mrs.Greg said:
Sandhusker said:
Was there war after Nixon was booted?
Was Nixon,the little crook ever even liked let alone loved......obviously a large population of your country LOVE Obama,like it or not.....boot him......come back and tell me if I was right. The Rodney King riots will look like a kindergarten play next to Obamas leaving!!!! You WILL have a war on your hand!!!!!!!

He was elected to President and then re-elected. That's not consistent with your opinion that nobody liked him.
 

kolanuraven

Well-known member
CattleArmy said:
Sandhusker since you seem so full of doom and gloom just what do you think would help our economy since everything that is currently trying to be done is wrong?



EXCELLENT question. What say you Mayor?
 

Mrs.Greg

Well-known member
kolanuraven said:
CattleArmy said:
Sandhusker since you seem so full of doom and gloom just what do you think would help our economy since everything that is currently trying to be done is wrong?



EXCELLENT question. What say you Mayor?
We're waiting for your answer???? :D
 

kolanuraven

Well-known member
Mrs.Greg said:
kolanuraven said:
CattleArmy said:
Sandhusker since you seem so full of doom and gloom just what do you think would help our economy since everything that is currently trying to be done is wrong?



EXCELLENT question. What say you Mayor?
We're waiting for your answer???? :D


HELLO????


This thing on?????



Yes, Mr. Mayor.... we're waiting????
 

Sandhusker

Well-known member
Mrs.Greg said:
kolanuraven said:
CattleArmy said:
Sandhusker since you seem so full of doom and gloom just what do you think would help our economy since everything that is currently trying to be done is wrong?



EXCELLENT question. What say you Mayor?
We're waiting for your answer???? :D

First of all, you address what caused the problems. You ditch CRA, go back to the time-tested ratios that determine what kind of a mortgage you qualify for, if one at all. If their constituents aren't smart enough to get rid of Frank and Dodd, you demote them as they've proven that they're unworthy to be on the banking committee.

Let the bankruptcy courts do their work on weak companies. No government bailouts.

You let the housing market settle back to where the market sets the prices. To artificially prop up home prices with tax payer dollars in the interest of affordable housing is an oxymoron. We cut spending and cut taxes both - eliminate capital gains taxes and cut the corporate tax rate in half. That gives companies a reason to want to do business in this country.

Get rid of this Free Trade nonsense and demand Fair Trade.

How's that for starters?
 
A

Anonymous

Guest
Sandhusker said:
Mrs.Greg said:
kolanuraven said:
EXCELLENT question. What say you Mayor?
We're waiting for your answer???? :D

First of all, you address what caused the problems. You ditch CRA, go back to the time-tested ratios that determine what kind of a mortgage you qualify for, if one at all. If their constituents aren't smart enough to get rid of Frank and Dodd, you demote them as they've proven that they're unworthy to be on the banking committee.

Let the bankruptcy courts do their work on weak companies. No government bailouts.

You let the housing market settle back to where the market sets the prices. To artificially prop up home prices with tax payer dollars in the interest of affordable housing is an oxymoron. We cut spending and cut taxes both - eliminate capital gains taxes and cut the corporate tax rate in half. That gives companies a reason to want to do business in this country.

Get rid of this Free Trade nonsense and demand Fair Trade.

How's that for starters?

And the Bankers of the World will run the free "soup kitchens" and build "the Bushville tarpaper shacks" for the folks to survive while all this shakes out... :???:
 

CattleArmy

Well-known member
Sandhusker said:
Mrs.Greg said:
kolanuraven said:
EXCELLENT question. What say you Mayor?
We're waiting for your answer???? :D

First of all, you address what caused the problems. You ditch CRA, go back to the time-tested ratios that determine what kind of a mortgage you qualify for, if one at all. If their constituents aren't smart enough to get rid of Frank and Dodd, you demote them as they've proven that they're unworthy to be on the banking committee.

Let the bankruptcy courts do their work on weak companies. No government bailouts.

You let the housing market settle back to where the market sets the prices. To artificially prop up home prices with tax payer dollars in the interest of affordable housing is an oxymoron. We cut spending and cut taxes both - eliminate capital gains taxes and cut the corporate tax rate in half. That gives companies a reason to want to do business in this country.

Get rid of this Free Trade nonsense and demand Fair Trade.

How's that for starters?

I agree on no bail outs for companies. If they can't make it on their own then down the tubes they go just as ranchers do if they can't meet their operating expenses nobody is giving them handouts. Ok but wait they do in drought assistance and remember the milk program?? Do we do away with that also or are farmers and ranchers exempt from your thinking and still get subsidies from the government?

I do think qualifing for morgages is getting more on the right track. They are taking debt ratios into account and looking more at what a person can realistically afford instead of their gross salaries when applying. Also looking harder at peoples credit scores and the ability and williness to pay back the money taken in loan.
 

don

Well-known member
just wait til the financial crisis reaches nebraska. the ultraconservative banker might change his tune.
 

CattleArmy

Well-known member
don said:
just wait til the financial crisis reaches nebraska. the ultraconservative banker might change his tune.

WTF Nebraska is untouchable with the new mayor in town guarding the vested interest of small town customers.
 

Faster horses

Well-known member
What Obama is selling the public has already been tried and failed.

As for the banking fiasco, how about this?
Banks, such as Wells Fargo, who were NOT in trouble were forced to
take the stimulus money. Now they are being micro-managed by the
government and they have had to lay off people, cut their dividends,
etc., etc. to operate by the government rules. If that's helping the economy I'll check with you.

The governement should NOT be micro-managing businesses or
corportations. You name me ONE TIME when the government has
been better at running business than the private sector.

When you've got your hand out, you better be careful what gets
put in your other hand.

Oh, and R2, it's obivious to me that OBAMA HASN'T GOT A CLUE--
and he's the one who talked our economy down. How many times
has he said 'crisis' in his speeches?

And another thing, everytime he talks about 'inheriting this mess'
I just about gag. He's added so much to what went on before he paid an arm and a leg to get theis job that sooner
or later the dog will lay at his door. He has spent so much money quicker than anyone in HISTORY.

What about being responsible for your decisions?
 
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