you can't apply home economics to the world market mafoo.
Things will get better, and he says we will cross that bridge when we come to it because by the time we get there, things should have improved. Why harp about a figure that we don't know. We could end up with a huge surplus. That's what it means to cross the bridge whenn you come to it.

Very good OP, Prof!

Well, as CNN anchor Anderson Cooper put it, "It's hard to talk when you're teabagging"

Someone should have told him it wasn't that kind of teabagging party. Well, maybe on the CNN side it was.

Very few people actually get the object of the tea parties, and how they came to be. First off, the Tea parties were NOT started by Fox, or any of it's affilates. it was started by people like me, or you if you are pissed off with the way the last two administratons have handled things. They were started by republicans, and demicrats who know that their parties have been highjacked. People who are pissed about the taxation we face, but more so the spending. The failing media outlets such as newspapers, and cable network news are afraid of this movement, that is why they are trying to polarize it. Did any of you go to one of these? Have you looked at other sources without a vested interest in this movement's demise? Did you know that there were an estimated 5000 of these things around the country with a massive headcount? Did you notice that the media downplayed, polerized, and demonized this movement as much as possible? Did you know that there has not been one documented case of violence at any of these tea parties? Did you know that a leftleaning person spoke at one of these things and stated that she was for abortion, for embrionic stemcell research, for a lot of left leaning policies and was NEVER bood off the stage? what you ignoramouses don't get is this is not about the parties, this is not about the left or the right, this is about values, principals, and America. Here is a little video I beg you to watch, it shows the attitude that was at many tea parties.

I guess I'm just to L337

I hope you're right.  Not that it makes things better, it just means things never got worse.

They don't want Obama to fail.  They think Obama is failing...  and they want to stop that.

Also... I believe Obama never once stated he would run up a  huge deficit while actually running for president... I seem to remember physical responsibility being one of the main issues of the campaign and Obama pledging to try and keep a balanced budget.

That's the thing you don't even understand what these people are protesting about.

Furthermore you never protested or made a post about the G20 protesters which you apparently disagree with even though that just happened.

It's not home economics, it's economics 101 that we apply at home. How is spending more money then you have going to make things better? China and the rest of the world are not buying our debt. This means we must print money.

The only way out of this, is to inflate our way out. inflation is a regressive tax, and hurts the poor more then anyone. If the dollar becomes worth 80% of what it used to be worth, you have just taxed EVERY dollar by 20%. There is no tax deduction for that. Everyone pays it. Why are you for a tax on the poor when we are in such economic hardships already?

Why are we here in the first place? The answer is as a nation, we spent more money then we had. Why is the solution to spend even more money that we don't have?

You like the guy, great. I like him too. But when you hire someone to do a job, and they make things worse, the solution is not to ignore the situation and hope for the best. The solution is definitely not getting pissed at those who are doing something about it.

I just wanted to expand upon your point a little bit because a lot of people seem not to understand why inflation tends to hurt the poorest people the most ...

For the most part, the more money you earn as an individual the more control over your income you have and the more money you will hold in investments that hold their value. For example, a business owner can respond to increasing input costs by increasing the price of his products/services, a skilled office worker can easily negotiate a raise or find another job, or a union can negotiate a good collective bargaining agreement, but a waitress or retail worker has no negotiating power because they're easily replaced.

With that said, people who make claims that personal finance is dramatically different that corporate finance or government finance are either dishonestly, trying to 'sell' you on something bad for you, or uninformed. In many ways, for the past several presidencies the United States has been run similar to a household of yuppies who have built up a massive ammount of debt to produce the image of prosperity; while there has been measures of success, these are not unlike the profit that is generated by home flippers at the peak of the market. The Obama presidency essentially is starting off with this household after there has been a massive income reduction and has decided to try to maintain this lifestyle by building up massive debts on their credit-cards, and has also taken out a line of credit for a stimulus package which is similar to going to the spa in order to feel better about yourself because relaxed people are more likely to get jobs.

Bingo! We have a winner. Well played TRMF and HS! But here is another thing about taxes that liberals cannot seem to wrap their heads around. Taxes are not payed by the companies being taxed, they are payed by consumers. Companies pass the tax hikes off to the people buying the products, this is why the gas taxes are so asinine, why do you think gas is so expensive? I mean the government gets 45 cents to for every gallon of gas. the oil companies only get 8 cents...so who is engaged in price gouging again???? And let's not forget that raising corporate taxes will only put people out of work and drive businesses overseas. After all, if you are a small business owner just scraping by and all of a sudden your taxes are raised, you have three choices, take a pay cut (which usually isn't an option for newer businesses because they already make very little) jack up your prices (which will kill your business because it will drive away your customer base) or lay somebody off. For big corporations, if taxes are raised, they have the option to move to a country that has low corporate taxes.