I think we ought to ban earmarks. I think we ought to give citizens the opportunity to designate up to 10 percent of their federal income tax toward debt reduction. If we did that, we would reduce our debt by $95 billion a year.
quote by Carly Fiorina
Submitted by Lucian Velea
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This debt crisis coming to our country. The wall and tidal wave of debt that is befalling our nation. Medicare and Social Security go bankrupt within ten years, we have a debt that is looming so high that in the last year of President Obama's budget just the interest payments on our debt is $916 billion dollars.
Over Now
Good night...
Yeah, its over now, but I can breathe somehow
When its all worn out, Id rather go without
You know its been on my mind
Could you stand right there
Look me straight in the eye and say
That its over now
We pay our debt sometime
Well its over now, yet I can see somehow
When its all gone wrong, its hard to be so strong
You know its been on my mind
Could you stand right there
Look me straight in the eye and say
That its over now
We pay our debt sometime
Yeah, we pay our debt sometime
We pay our debt sometime
Yeah, we pay our debt sometime
Guess its over now, I seem alive somehow
When its out of sight, just wait and do your time
You know its been on my mind
Could I stand right here
Look myself in the eye and say
That its over now
We pay our debt sometime
Yeah, we pay our debt sometime
We pay our debt sometime
Yeah, we pay our debt sometime
song performed by by Alice In Chains
Submitted by Lucian Velea
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After the $700 billion bailout, the trillion-dollar stimulus, and the massive budget bill with over 9,000 earmarks, many of you implored Washington to please stop spending money we don't have. But, instead of cutting, we saw an unprecedented explosion of government spending and debt, unlike anything we have seen in the history of our country.
quote by Michele Bachmann
Submitted by Lucian Velea
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At this time - we're in a dramatic crisis - euro bonds are precisely the wrong answer. They lead us into a debt union, not a stability union. Each country has to take its own steps to reduce its debt.
quote by Angela Merkel
Submitted by Veronica Serbanoiu
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So tonight I propose one more step that I would rather not propose. I ask the most fortunate among us, those citizens earning over $100,000 per year, for one year, to pay an additional one percent on the income they receive.
quote by Mitch Daniels
Submitted by Lucian Velea
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As far as income tax payments go, sources vary in their accounts, but a range of studies find that immigrants pay between $90 billion and $140 billion in Federal, State, and local taxes.
quote by Luis Gutierrez
Submitted by Lucian Velea
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According to the study, approximately 16.7 million U.S. workers born in Latin America had a combined gross income of $450 billion last year, of which 93 percent was spent locally.
quote by Luis Gutierrez
Submitted by Lucian Velea
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Do you realize that if we could increase just by 50 percent the number of adults who have a college degree, it would add $5 billion to the economy and it would result in a net income to the state of Arkansas of $340 million a year?
quote by Mike Huckabee
Submitted by Lucian Velea
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Remembering Grandpa
grandpa was strict
i remember
for a Red Cross Donation
that i asked from him
and which he considers
as my debt
he did not forget
to remind me and
thus collect
i was then 12 and he
was 60
i was disappointed but
he did not mind
a debt is a debt and must
be paid
the years may have buried
him for good
but the memory of a debt
paid still lingers
the numbers are clear
as always
some words may have faded
but the feeling
sticks like a scar
in my face....
poem by Ric S. Bastasa
Submitted by Poetry Lover
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Mr. Obama plans to boost federal spending 25 percent while nearly tripling the national debt over 10 years. Americans know that this kind of spending will have economic consequences, including new taxes being imposed by the new progressives.
Right now, a majority of the debt is owed to foreign interests, Japan being the largest purchaser of government debt today, soon to be surpassed by China as the number one purchaser of our debt in this Nation.
If US per capita income continues to grow at a rate of 1.5 percent a year, the country will have plenty of money to finance comfortable retirements and high-quality healthcare for all citizens, including those at the bottom of the wage ladder.
quote by William Greider
Submitted by Lucian Velea
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The Incredible Shrinking Country
It’s become more and more evident that there
is a concerted effort by global oligarchs to emotionally,
and financially bankrupt the United States of America.
Wall Street bankers, Federal Reserve Bank, corrupt
Politicians and the Military/industrial complex
are the instruments of the destruction.
The “Derivatives” debacle created more debt than the
American people will ever be able to effectively reduce,
much less pay off.
Greed drew in other Countries that are now moving toward
or are already bankrupt. The “domino effect” threatens to
destroy global economy. Global elite have effectively enslaved
the World using debt.
To further globalist agenda;
Higher food and oil prices.
U.S. monopoly of dollars for oil no longer effective, as
Russia with its enormous oil reserves and production
is selling oil to Europe and China for Euros and gold.
The ultimate goals of the globalist elite include;
1. One world government
2. One world currency
3. One world religion
4. Control of world food production
5. Eugenics and reduction of world population
'He also forced everyone, small and great, rich and poor, free and slave, to receive a mark on his right hand or on his forehead so that no one could buy or sell unless he had the mark, which is the name of the beast or the number of his name. This calls for wisdom. If anyone has insight, let him calculate the number of the beast, for it is man's number. His number is 666'
(Rev.13: 16-18)
ROTMS
poem by Ray Lucero
Submitted by Poetry Lover
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Comes The Revolution
The 'one percent' are tired
dealing with the unwashed masses
who harass them on Wall Street
while mostly sitting on their asses..
In a bold preemptive strike
by the favored one percent
The wealthy seized Zuccotti park
and there they pitched their tents.
It' s a very civil protest,
a catered call to arms.
Instead of drums and gongs,
an orchestra plays Brahms
English butlers with refined accents
now go from tent to tent
with champagne in fluted glass
for those who can pay rent.
The gilded age was long ago-
its passing, some lament.
We paper over losses now
by piling debt on debt.
When this house of cards comes down
as such are wont to do.
This land will have new masters
but it probably won't be you.
poem by John F. McCullagh
Submitted by Poetry Lover
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Pay back your debt
No, no, no, no, no
Don't say it your own
Don't give yourself air
Just stay calm and feel good
Debt is always debt
It's a temorary help
You have to pay it back
You can't call it your own
It's sheer dishonesty
You will be called a dishonest man.
poem by Mohammad Akmal Nazir
Submitted by Poetry Lover
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But the debt limit obviously is something that needs to and will be passed. That is not inconsistent with a process and a belief that we have to get significant deficit reduction.
quote by David Plouffe
Submitted by Lucian Velea
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There's no doubt about it, earmarks are not very popular. There are good earmarks and bad earmarks. The good earmarks are the ones I get for my district.
quote by Anthony Weiner
Submitted by Lucian Velea
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Write Off The Debt
WRITE OFF THE DEBT (Chorus)
ME SAY WRITE OFF THE DEBT
ME SAY WRITE OFF THE DEBT
AND STOP THE THIRD WORLD A FRET
I SAY THE IMF PUT ON TOO MUCH INTEREST
CERTAIN MAN PON THE STREETS CAN'T EVEN BUY A LITTLE VEST
I SAID THE EAST AND THE WEST THEM JUST A BUILD UP DEM CHEST
CERTAIN MAN IN THE THIRD WORLD CAN'T EVEN DIGEST
song performed by by UB40 from Cover Up
Submitted by Lucian Velea
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Expanding eligibility of family planning services to low-income women will maximize cost-savings to both federal and state governments, reduce the disparities in access to family planning services for low-income women, and decrease the incidence of abortion in the U.S.
quote by Rosa DeLauro
Submitted by Lucian Velea
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Social Insecurity
Strapped Seniors use credit cards ‘stead of cash
To stay afloat, after losing their stocks n’ bonds
Yet more victims of another Wall Street crash
“Let them eat cake” is what the Fed responds
ROTMS
From Reuters Article 10/23/2010
Retired and broke: Why retirees are declaring bankruptcy
For more and more seniors, retirement doesn’t mean a debt-free life of leisure. An increasing number of Americans aged 65 and older are declaring bankruptcy, according to a recent study by John Pottow, professor of law at the University of Michigan Law School.
Those aged 65 and older represented seven percent of bankruptcy filers in 2007, a mind-boggling jump from 1991. They are the “fastest-growing age demographic, ” according to Pottow’s study.
What’s the culprit for so much debt? Credit cards. Two-thirds of Americans who filed for bankruptcy said credit cards were the key reason for their financial problems, according to Pottow’s research. Besides having more credit card debt compared with younger bankruptcy filers,44.8 percent of those aged 65 and older also had more plastic in their wallets. “They’re using credit cards as a maladaptive coping mechanism, ” Pottow says.
Stephanie Osterland, a supervisor in the bankruptcy department at GreenPath debt solutions, sees an increasing number of seniors living beyond their means. Says Osterland: “They’re just trying to live off of a fixed income, and that’s usually Social Security. Maybe they have a small pension. We find they’ve used credit cards to supplement that income and expenses or they just end up getting into a lot of medical debt.”
In addition to escalating medical expenses, seniors have seen their portfolios hit hard by the lagging stock market. Carolyn Rodi of Saving Your American Dream says those considering bankruptcy should see a credit counselor at a non-profit organization to get their finances in order.
Credit counselors, such as those at GreenPath, help the elderly deal with a stressful situation. “We try to help them focus on what it’s going to look like” after they get out of debt, Osterland says.
Rodi also recommends that potential bankruptcy filers seek out pro-bono legal aid. “There are a lot of elderly people that are being taken advantage of by bankruptcy attorneys and mortgage brokers who are advising them improperly to pay for the bankruptcy, take out a reverse mortgage or to do things that aren’t in their best interest, ” she says. ”If you have no income, why should you borrow to pay someone when you can get free legal aid? ”
What are the chances of a senior paying off his or her debts? It’s difficult to determine, especially because seniors tend to be on a fixed income. And while finding a job — such as a WalMart greeter — seems like a viable option, it is not necessarily feasible for all seniors to work.
In addition, whether or not a person declares Chapter 7 (which involves the liquidation of one’s assets) or Chapter 13 (which allows debt restructuring) bankruptcy can be a significant factor in determining what one’s lifestyle will be. “If you have to file for Chapter 7 bankruptcy, you may be able to find affordable housing that allows you to just get by, ” says Rodi. “Chapter 13 lets you keep your house and doesn’t touch your retirement savings.”
Regardless, filing for bankruptcy is very stressful for anyone. “A lot of our clients in that post-retirement age have a hard time coming to grips with their situation, ” Osterland says. “It’s very emotional for them. We try to focus on the future and see if this debt can be lifted off their shoulders.”
poem by Ray Lucero
Submitted by Poetry Lover
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