Bush Deficit vs. Obama Deficit in Pictures

vinod says on Oct 20, 2009, 08:48:

Are all those American baby boomers starting to wonder whether they will receive their social security, or that if they do, will that social security money have any purchasing power?

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greg says on Oct 20, 2009, 16:20:

Wheres the pictures? I thought maybe in the Bush deficit part we would see pics of the many thousands of dead soldiers Bush is responsible for. A terrible deficit that will never have a recovery!

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aztec says on Oct 21, 2009, 04:33:

You people on the Left better get in the game and help control this runaway spending or you will no longer have a Country. Forget Bush and use your influence governing for the future survival of the United States of America.

No country can survive such profligate use of scarce resources. It doesn't matter who is president, (Bush spending gave us Obama), it cannot go on without total disaster.

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tasco66 says on Oct 21, 2009, 05:31:

" I thought maybe in the Bush deficit part we would see pics of the many thousands of dead soldiers"

Well you must have a pretty twisted mind to associate deficits with dead soldiers. With that reasoning we can expect to see much more dead US soldiers with Obama...

The trouble with free elections is, you never know who is going to win (Leonid Brezhnev)

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aztec says on Oct 23, 2009, 03:49:

Preventing the Next Financial Crisis

By ALLAN H. MELTZER

The United States is headed toward a new financial crisis. History gives many examples of countries with high actual and expected money growth, unsustainable budget deficits, and a currency expected to depreciate. Unless these countries made massive policy changes, they ended in crisis. We will escape only if we act forcefully and soon.

http://online.wsj.com/article/SB10001424052748704224004574489251193581...

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vinod says on Oct 26, 2009, 11:31:

I foresee a sequence of events more or less like this:

(1) US dollar will cease to be accepted as the reserve currency.

(2) Then the US will be unable to finance the defficit by issuing more dollars.

(3) US dollars will not be so readily accepted overseas and will begin to be repatriated.

(4) More US dollars in circulation at home will cause inflation (maybe even hyperinflation).

(5) Millions of American baby boomers will see the purchasing power of their pensions and life savings vanish.

(6) The bond market will respond with radical interest rate hikes, and a corresponding collapse of the bond market.

(7) A collapsing bond market will render messiah Obama's government unable to finance his deficits with new bond issues.


Of course, this sequence of events will be postponed as long as the world continues to accept US dollars for payment and as the reserve currency.

How long will that be?

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