OweNo.com

Here is another very useful web site for getting information about the debt and deficits.

http://zfacts.com/

In addition, here is an article that talks about more jobs going overseas. You want to know why the U.S. is having serious financial difficulties? It's no more complicated than this: Good jobs that used to be created here in America are now being created overseas instead. That's it in a nutshell friends.

http://www.comcast.net/articles/news-general/20101228/US.Overseas.Hiring/?cid=NET_SZHeadlineRSSLinks&attr=article_news_general_US.Overseas.Hiring

Here is a neat website for a whole host of interesting statistics.

http://www.poodwaddle.com/worldclock.swf

I hope that you are including the $800 billion that the nation WILL NOT BE RECEIVING as a result of the republican rant to extend the tax breaks. Why is this OK if the national debt is already so high???

Another useful site:

http://www.prisonplanet.com/

target the MEGGA rich (Multi-Billionares) who milk the middle class whilst evading (sorry) creativley avoiding tax themselves..... BUY SILVER CRASH JPMorgan:

http://www.guardian.co.uk/commentisfree/2010/dec/02/jp-morgan-silver-short-selling-crash

High and constant and newly created taxes are sure indications of a socialist, nanny state mentality. these sort are always the same. Take as much money from the people through all sorts of schemes so that we can fund our social programs. I saw this clearly in Toronto Canada before I moved from there. Socialist silly hall imposed a $60 car license fee. New tax. they rolled out the new garbage bins of various sizes and costs. New charges on plastic bags when shopping. they were even hunting down people who had pets without a license and were considering a 'side walk' tax along the entertainment district. Oh and lets not forget the huge tax on home purchases in the city. People finally had enough and voted the bums out and now have to work to get their financial house in order. It seems very foolish to blame lowering our taxes on fiscal problems. Low taxes contribute to a vibrant economy. government overspending doesn't. that is the problem. Ever expanding government programs require ever expanding bureaucracy which is paid for by the tax payer. These are not real jobs that spur growth. these are government jobs with big pensions and wages. Government debt is the villain, not low taxes. And we haven't even talked about out of control regulation which is strangling companies to death.

I am not in the rich category; however, who gave anyone the right to say, I think you earn too much money and I'm going to take it and use it as I see fit? That is not American or Capitalism.

Just as an FYI. The filthy rich you want to get so bad already pay the lion's share of all taxes. I'd need to double check, but I believe the top 1% pay almost 40% of all the taxes and the bottom 50% pay less than 3% of all taxes. I think the rich are paying more than their fair share.

*IF* tax rates had gone up as scheduled, they would have returned to levels existing during the Clinton administration, LOWER than they were under Pres. Reagan--hardly bilking or trying to "get" the already-well-off.

All things being equal, I would have preferred that everyone's taxes go up. After all, like the wars or not, we're currently borrowing to pay for two wars plus the Medicare Prescription (all initiated during the Bush administration BTW). Paying for our defense is hardly the "nanny" state.

We have three seperate problems: the debt, Medicare, and Social Security.

The debt is not the problem of our electorate; they simply do what we want them to do. Give us lots of stuff without paying for it.

With half of the country paying no taxes, but being able to vote themselves virtually unlimited benefits there is not controlling the problem.

Our elected represenatives realize they can keep getting elected as long as they give the non tax paying half more programs and benefits.

It's easy to blame the hard working half of the country for being unwilling to pay their fair share of taxes, but all our problems would disappear if the other half just paid THEIR fair share of taxes.

This current crisis only occured because a significant part of those paying taxes became un or under employed creating an acute cut in tax revenues.

Oh how the half not paying taxes scream when their benefits are cut.

Now part of those actually paying taxes are being squeezed as their jobs are being outsourced or their wages being driven down by wold wide competition.

They are working even harder, but being asked to pay even more to support the 50% that doesn't pay any. Naturally they want to shift that burden to the super rich.

The problem is there are so few billionaires that its just mathmatically impossible to have them support everyone else.

If everyone just took care of themselves, we'd be fine.

Medicare and Social Security are the real problems, but those are not fixable.

Unless you "fix" them by limiting benefits via need tests, but then some of that hard working 50% might start complaining about all the money that's been taken out of their income with the promise of a future benefit for them.

Now I understand why the politicians are after our guns.

Wow, I am impressed by the variety of viewpoints here.

If everyone just took care of themselves, who would take care of the commons- roads, parks, schools, etc. YOU might be fine, but I know people who would die through no fault of their own.
Those of you who think your tax money goes to pay bureaucrats haven't thought too much- most of the tax money goes back to the private sector for goods and services and salaries to your friends and neighbors, maintaining and improving the necessary infrastructure of this country. Government employees aren't getting rich off of your taxes- I know, I'm a teacher. When times are good, I get maybe a 4% raise, when times are bad, maybe 1%, with people like many of you expecting me to balance the budget personally by taking a pay cut or a freeze. Read some history of tax rates, especially starting with Eisenhower. When Reagan took office, the slashing began, and those who engineered his election couldn't be happier. Their goal was to get Americans to hate government so much that they would turn against it and let the corporations run the country. Is that better than your neighbor helping run your community as a "government employee"? The government is US, and until a lot of people realize that we can run the country for the good of the people or let corporations, who the Supreme Court have recently ruled ARE people, run the country for THEIR personal benefit. Do you really think they have your best interests at heart? How about the growing number of hand picked politicians they are bankrolling? It's "you scratch my back, I'll scratch yours", and they have circled their wagons and you are NOT in the circle. I don't have time to get into Social Security and Medicare- they would be fine if the funds were not plundered, if withholding did not have a cap, and there was means-testing so people like John McCain wouldn't collect more SS than my mother, whose only income IS SS.
Think for yourself instead of abdicating that to FOX news. The "liberal media" is a myth. The only source of balanced news (NPR) is under attack. Or try the BBC- it would be interesting to see how the rest of the world sees what is going on here.

It was refreshing to see a variety of opinions rather than just one-sided comments. Yes, we need to face reality and deal with our financial problems before it's too late. We Americans don't like discomfort or sacrifice but it's time for us to accept reality and do what must be done. We can do it; we just need to make the commitment without a lot of complaining. It's called "LIFE".

Well, very good. Read the comments and out of the many there is one light; Lou has it exactly right. When labor costs and regulation imposed costs become oppressive, manufacturing looks elsewhere to lower those costs and improve its bottom line. There is no effective downside (with the exception of capital expenditure (which is mostly write-off anyway) to profitability in relocating a plant; regardless if out of state or offshore. There is however, immediate and often irrevocable impact to the local economy whether it village, township, city, county, state, or national; and none of it, with the possible exception of environmental, is good. You simply cannot short-cycle a dollar earned in the service sector by spending it on imported goods thereby feeding offshore economies by multi-cycling your dollar through them and bolstering profits of the multi-national. It simply does not work out for us. Life is insidiously sucked out of our hard good manufacturing middle class economic engine over time until it simply ceases to run starved of fuel and lubrication. The service sector will then become over populated with labor resources and it too will slowly become emaciated as big business takes advantage of the labor glut and does what it is hard wired to do. By and by big money will move completely off-shore since there will be nothing left of the American economic engine and it's marketplace and our once great America will be up for grabs in a global fire sale. You'll be paying your taxes to Beijing or Abu Dhabi and wondering how that happened while you root amongst the jobs left as scraps in our economy to keep family, body and soul together. Ant there won't be a nanny state to save your backside either. You'll finally be wholly on your own to survive----finally.

I received your Fire Pit email in error. I usually do not make political comments, but I believe governments and the people have been living way beyond their means for a long time. We need to cut way back on spending for a lot of things. We bid up the prices of our homes beyond their actual worth and mortgages. It was greed, not investment, with the cooperation of government and banks who knew what was going on and gambled on speculative securities with our money and lost many fortunes. The banks received hundreds of billions of dollars in government TARP loans, but instead of helping borrowers reconfigure their home loans, the banks invested the money in government bonds to gain big profits on the government money. The banks still have probably 50% or more home loans on bank books for which the home collateral is worth up to 50% or more below the value of home mortgages owed to banks. Local governments are providing way too many services that we can no longer afford. Local government pensions are unbelievably expensive to taxpayers, and the government contributions were often not made and kicked down the road to pay later for pensions that are too high in the first place and sometimes involve corrupt calculations. Social Security and Medicare will go bankrupt unless refunded, but this is also being kicked down the road to solve later. Locally and federally, everything is being kicked down the road to be solved later, while the feds increase debt and the locals borrow from real or bogus reserve funds of one kind or another. No one wants to be responsible, Democrats or Republicans. They both spend and/or borrow more money that we as a nation cannot afford. We may now be coming to the point of no return: bankruptcy and/or hyperinflation.

We need to start writing the people who supposedly represent us.

We need depression babies to show us how to live on a lot less. I learned a lot from my father (born 1910) on how to reuse things and not buy wasteful products. He even subscribed to the Tightwad Gazette and a similar magazine.

Hey best mistake you ever made...love the blog and your thot's. Thanks for making a great mistake, I will now be reading both of your items...THANK YOU SO MUCH!

Blame whomever you wish but the real truth is that we as American citizens have been duped by the government. Please read, "The Great American Stickup" by Robert Scheer (currently editor of Truthdigs.org). This book makes it very clear that the Federal Reserve calls the shots and they have since their inception - an idea that Jefferson was totally against particularly the secret groups as was JFK, and many others. People have tried to eliminate the Fed to no avail. These private bankers call the shots and we, the serfs of the world are their victims without even knowing it. We re not free at all.DId President Obama ever rescind the Patriot Act and give our rights back to us as he declared he would? I read he has spent more military money than any other presoident and no one is mentioning the 3 trillion that Rumsfeld told the public about 9-10-2001 (after 9-11 everyone forgot about this or the media did). Please Read this book - understand the Feds - they are bigger criminals than Madoff.
As an aside, I am reading right now Censored 2011" edited by Micket Huff, Peter Phillips, and Project Censored. This essentially covers many important stories that the American Corporate Media does not wish to cover for various reasons. Students at different universities research the news that the main media refuses to cover.
Thanks for your political views -hopefully we will see an end to the greed and unChristian behavior so prevalent in society today - rather depressing!
Best wishes
Amy Brown

The globalists are OFF SHORE, they have ZERO interest in the fate of America, or anywhere else for that matter. BOTH Goverment AND Large corporations are controlled BY THEM for their benifit. WE are ALL their slaves unless we wake up throw off all this dogmatic nonsence and look to the bill of rights and the founding father's intention; that Government should be very small and the real power lie within the states keeping it as close to the people as possible. Centralised power ALWAYS leads to TYRANNY. Period.

Join the (non partisan)revolution go to:

http://www.prisonplanet.com/
or
http://www.infowars.com/

or one of the 'we are change' sites and pull your G*D D*amn heads out of the sand!

Okay, SORRY for the vitriol, but we really MUST kick the 'Creatures' that run this country OUT, and replace them with genuine Human Beings...

Our government's wild spending has absolutely no relationship to jobs going to other countries. Most economists agree that when work moves to where it can be done most efficiently, everyone benefits.

The only solution to our problems is reducing the burden of government on our society. The moment we concede that some areas must be government-controlled, we're back to our current slippery slope where our liberties are slowly but surely disappearing.

It is very interesting to first see people complain about our heading to socialism then turn around and complain about their social security benefits. If you actually did some research you would come to know that in the '80's, Reagan (who so many of you consider a god) withdrew 350 billion from social security to pay the taxes on the national debt at the time, whilst spending billions building military weapons. Then, in '88 when Bush Sr. took office, he withdrew 300 billion from s.s. for what I have yet to discover. Neither of these presidents paid these funds BACK to s.s., therfore being a major contributor to the current issues with s.s., and the building of the military also huge amounts into the national debt. Now I would like to provide the definition of socialism:

so·cial·ism   /ˈsoʊʃəˌlɪzəm/ Show Spelled
[soh-shuh-liz-uhm] Show IPA

–noun
1. a theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
2. procedure or practice in accordance with this theory.
3. (in Marxist theory) the stage following capitalism in the transition of a society to communism, characterized by the imperfect implementation of collectivist principles.

If any of you realize, we have been a socialist country for decades hidden behind the illusion of freedom. How many of YOU own oil companies, bottling companies, manufacturing corporations, banks, etc.? I doubt any of you do, but may be "investors". This is one form of proof of our country not being a capitalist country, but a socialist country going into a communist country. Don't believe me, READ the patriot act among some of the other billions of laws completely! Also, if you want to get rid of the "socialist, nanny state", then give up public schools, libraries, police departments, fire departments, and social security since these are also "socialistic ideals and programs". If yo need a cop, pay him when he gets there. You need a fireman, do it yourself. WE are SOCIAL beings therefore everything we do is social. Get a clue people. Now more proof: Every year more and more laws (40k + in 2010 alone) are enacted to reduce your freedoms. But everyone wants to blame "liberals" and claim "they want our guns!". Seriously, if the gov't really wanted your weapons, you wouldn't have then at this present moment. Also, you would no longer be able to buy them from retailers let alone the ammunition. Did you also kknow there is a ammunition shortage going on? And the reason? U.S. Government. They have been stockpiling ammo for approximately the last 8 years. Now, onto the comment about freedom: I WANT your freedoms to be taken away! I am gay, and since you people feel that you can take my freedoms away, I think it is "just dessert" for you to experience the same. And as for "god fairing, loving people", HA! Give me a break! You are some of the most hatred filled people I have ever met. And don't even start on your bible says. Keep your religion to your self, out of my freedoms and rights. You tea partiers are so swayed by the rhectoric that is preached to you as truth, and drink it a the best kool-aid. Seriously, like another person said, pull your heads out of the sand and wake up. You are only advancing the destruction of this country by trying to control the things you do not like such as gay marriage not being "true love". It is, and just because you do not agree with it due to your convictions, doesn't mean that YOU have the RIGHT to deny others such as you do. And btw, can I vote on your marriages? I feel I have that right considering many of you have been divorced, have children out of wedlock, are physically abusive, and spread more hate. You know, I am done. no sense in trying to talk to tea baggers who believe everything that they are told and I cant wait until you ALL go to HELL! I am going to have so much fun burning you all.

We all agree that something is wrong, yet nothing seems to change. Politicians continue to enact laws to change the behavior of the people that elect them without those laws applying to them. They are above the law. We continue to elect these people. Look at what they do...cheat on their taxes, lie, steal....nothing ever happens to them. They continue to pander to those 50% of people who do not pay taxes and care more about Britney Spears than they do what happens in the government. This country provides more money in foreign aid than any other country in the world-money we borrow from China to give away! The infrastructure in the country is deteriorating at an alarming rate, the jobs are going away, our workforce is largely unskilled and becoming more so with the retirement of the baby-boomers. But still we keep on spending money like drunken sailors on shore leave. Everyone is complaining, but nobody does anything. Every politician lies. Bush promised and did not deliver. Obama and Pelosi promised to have transparent government and "to drain the swamp" of corruption, but it seems worse than ever. I mean the guy in charge of our tax code is a tax cheat himself. He did not even get a slap on the hand. Worse yet, no one seems to care. I think as long a good people do nothing, nothing will ever change. I believe the first step in the right direction is an amendment to the constitution that Congress will not enact any law that does not apply to itself. But alas, they would never enact it. I am afraid that I am losing hope for the future. While I may not be happy about it, the United States has become the world's police officer. I do not like that we are in that position, but who will do it if we do not. I know there are many you that would argue that we don't need a world police. To all you that would argue that we need to stay out of the world's business, I need only to say, we have tried that before and resulted in not one, but two world wars. Both wars, we were pulled in kicking and screaming. SO, please someone, what is the answer. How do we change the path we are heading down to get America back on the path to greatness?

Hey fushiqi, I don't care what you do in your bedroom, just don't stick it in my face. I have several gay friends and I don't judge them. I don't believe in hell and I think your personal hell is the poison you carry around inside yourself. I support the TEA party because of what they stand for "TAXED ENOUGH ALREADY". I disagree with the waste in our government. I don't care about "Don't ask - Don't tell" I don't care if you get married. Let some of you go through some messey divorces and that crap will stop anyway. I understand that you are angry because you do not have the right to choose and for that I am sorry. But you are mis informed about the intentions of the TEA party. We have been demonized by the press with a bunch of lies! We simply want a smaller government that will not waste the resources of this country. You are getting the TEA confused with the Republicans who want to control what you do with your body. We do not want to be the Moral Majority and Jerry Fallwell's followers. Hell, I would support the Libertarians if their leadership would get their head out of their butt and stay focused on what is important. If this country goes bankrupt, all the social programs will not matter anymore and there will be chaos in the streets. Take you head out of the sand and look around. You have tunnel vision where you own issues are concerned. You probably will not listen to me though. SO, go watch MSNBC so you can be more misinformed!

Is anyone bothered by the fact that part of the incentive to move jobs overseas is such activity is tax deductible to corporations. They are penalized if they employ US Citizens here, but rewarded for removing them from the rolls. And the really creative corps like Halliburton have established "headquarters" in the Caymans and Dubai so despite getting 90% of their income from USA funds, they pay NO tax. Remember that they use taxpayer funded airports, ports, roads, airwaves, postage and a variety of other services and since they are "offshore" they pay no taxes. Try this on your personal income.

Wow.welcome to world equality. Fight as much as you can. But in the end, everyone deserves an opportunity to be equal.

65% of americans are super fat. I see a fat pig country ready to go to slaughter.
Best of luck looseing all thet gluttony in the new year

The reason the Wealthiest pay the most taxes is due to their immense wealth in comparison to the rest of the Country. Doesn't is seem strange that in the "Richest Country" in the world, the TOP 2% starts @ $200,000.00 year, w/ the richest 400 individuals averaging $345 MILLION per year? Despite the total Tax paid by the Wealthiest, their average EFFECTIVE FEDERAL TAX RATE is 16%. And as an aside, with all the complaints about Corporations having "one of" the highest tax rates in the world - their average EFFECTIVE TAX RATE is 17%.

lmao fushiqi you prove to the world you pycho's are surrounded. I don't understand why you would wanna run out in the streets with your bb guns. When all the real men are inside with their shotgun's. We surround you buddy. We surround you. I hope you live on my street in my area. You can run to my "Socialist's Welcome Here" Sign n get a good live skinning treatment. It'll be fun.

I know the US will not collapse because common sence will overrule stupidity. Globalist thinking will always sound good. But country and individualist system's of economic growth will always be the core cogwheel of any society's rise or fall.
The great thing is common sence always hits us in the last hour of anything. It's a human trait. If we were a deer, we'd stand in front of the blinding lights and horn blairing at us. But we're not. The truck is 20 feet away right now. But at least we're not deer.

LJ - I'm glad you and a few other people here actually understand what's going on and "get it".

There is a huge disparity between the top 2% and everyone else. There is basically a reverse Big Brother - 1984 thing going on here; it's the Corporations that control all of the information, neutering the government into submission and controling the people through mass amounts of mis-information.

It's 1984 meets Rollerball.

On a slightly off topic but related thought, here is an interesting article about how the huge Healthcare corporations are really controlling the discussion about Health Care Reform, ostensibly coming from "the common folk". You should read this whole article, it's very good.

http://www.truth-out.org/wendell-potter-the-health-care-spin-continues66501

Lou and I agree on a lot of things but corporation influence vs public employee influence is not one of them. Corporations have a lot of influence but so do public employee unions. This is a fact that does not seem to be mention very often if ever. But then again maybe I am one of those that just does not “get it” like Lou does.

I attach the following article as a counterbalance to Lou’s one on healthcare.

http://city-journal.org/2010/20_2_california-unions.html

I would also like to comment on this 2% figure that I am hearing endlessly lately. I don't think that I can dispute the 2% figure, but I believe that the number needs closer analysis. How does this number relate to longer term history? Is this 2% really heads of corporations or is the hedge fund managers, high frequency trading wiz kids and the derivative manufacturing specialists and the speculators that (in my opinion) make nothing productive and add no productivity to the economy. Is it based on income or wealth? Anyway this 2% number is firmly entrenched and fully ingrained into those that lean left, it makes a very simple talking point that is easy to rally around and it will be around at least until the 2012 elections.

Hi John C. I just caught up to your latest post on this older thread. I'm currently reading the article on Calif. unions that you posted. It's a long article, and I have to go out shorty, so I'm only about half way done.

It's a good article, and I'll comment on it when I've had time to finish and digest the information.

Thanks for posting it.

Wow, a lot of comments. Doesn't matter who everyone wants to blame for any of this...we as Americans are to blame. We allowed our liberties and freedoms to be taken away from us by electing officials who have no business being in Government. We allow our freedoms to be taken away by voting on laws that we've never even read or understand. We allow more and more of our freedom to disappear due to ignorance and just plain being lazy thinking someone else can deal with it.

It's sad really...Many Americans don't even know the first thing about a person they voted into office, just what they see and hear right before an election. Our President is proof of that.

It is up to us to be educated about what is going on in this country, it is up to us to be educated about any person running for office. If you are ignorant and you vote someone in, then shame on you. If you stand by and let those people take away your freedoms, because you were too lazy to read the law you just voted on, shame on you.

But if you just stand by and blame and complain about everything that is wrong in this country, and do nothing, forget the shame...just get the hell out! Go live in some Socialist or Communist country where you will be taken care of in a manner you seem to so desperately want. Once you all are gone, us educated folks might finally be able to get rid of the jerks you people keep voting for and live the life our Founding Fathers intended us to live, free...not dictated too.

We are the people, we have to fix what we allowed to get broken and that means getting involved and getting people to wake up and realize they should be pissed off about all of this. Sadly, many will not see it this way, many more are clueless to some of the things they have caused by wanting a free ride and sadly you just can't fix stupid.

@John C. I still owe you a comment about the article you linked to. In the mean time, per Mr. Carter's dictum, I am asking that you read my comments on my blog about the issue of the top 2% of income earners.

I've named my blog "The Moderates Perspective", and I think the title is self explanatory. :) FYI - "Moderates" is in the plural sense, not in the single possessive sense.

http://the-moderates-perspective.blogspot.com/