Constitutional amendment to balance budget.

[bigbulls]

Florida Senator George LeMieux introduces a constitutional amendment to balance the federal budget. I think this is a great move and is the only way I see our spending getting under control.

Senator LeMieux was appointed to replace the lack luster Mel Martinez and thank God he did.


http://www.youtube.com/watch?v=ron5UnA2Ypc

[vc1111]

double posted for some reason...

[vc1111]

The crew in office down there now will all have a good laugh at this and move on to business as usual.

The American people are currently in the deepest sleep I can remember in my lifetime and that fact is not lost on the crew now in office, both democrat and republican.

As we've seen lately, an additional 4 or 5 HUNDRED BILLION of additional spending on top of what has already been spent or earmarked does not so much as raise an eyebrow from the press or the people.

We are on the edge of a magnificent collapse.

[Fieldmouse]

We are on the edge of a magnificent collapse.

agree 100 %

[James B]

I am afraid that you are right. I don't see any feasible way short of just juggling paper work that this budget could ever be balanced. It is out of control and it is just flat to late already.

[bigbulls]

Balancing the budget simply means not spending more than you take in. It may not mean reducing the debt but it will mean not creating any more debt.

But........ If it's really truly all too late already, they do what they want any way, no one listens, go right back to business as usual, etc... etc... then the way I figure it we have two choices.

#1. We (citizens and good politicians) can just sit here and bitch and complain and accept the facts that the bad people of the world rule and we are not in charge of anything and America is absolutely doomed and live our lives as best we can while being under the heavy thumb of government.

#2. Get our guns and take back the country because we have nothing to loose.

I don't think it has gotten this far in the crapper yet and I have hopes that there are some good people out there in the 300+ million of us that have what it takes to turn this government around and get it headed back in the right direction.

[vc1111]

I don't think it has gotten this far in the crapper yet and I have hopes that there are some good people out there in the 300+ million of us that have what it takes to turn this government around and get it headed back in the right direction.

Would that is might be so simple. It is not.

For a "turn around" many things must happen that have historically NEVER happened.

First people must stop considering only what is in a spending bill for them and only them. They must instead consider the overall effects of a given bill and how it affects all Americans. Don't stand on one leg waiting for that to happen in 21st century America. Most of those now holding public office got there by way of promises of freebies for one and all in their districts back home. The promises have become an institution in America and the presses are red hot printing dollars to met them.

Secondly, the American people must come to an understanding of the insane budget numbers being bandied about in DC as we speak. That is a something that is beyond the intellectual scope of the average American. Want proof? Show me the wholesale, daily, public outrage over the sheer scale of spending that has both occurred and been slated to occur. It just does not exist. As I said, America sleeps.

Even the Chinese asked our president what in the world America is doing with our dollar when he visited there recently. The irony of that event will go down in history...and yet almost no one here even took note, let alone seriously questioned it.

#2. Get our guns and take back the country because we have nothing to loose.

The fall of a great nation is always a surprise to the populace of that nation. The people march slowly and stoically to their demise because they simply cannot believe it could happen "here."

But hey, Americans are busy right now; don't fault them. They have credit card shopping to do and the football season is underway. Bread and circus, as always, provide the distraction necessary for the kinds of back room events taking place in DC at this very hour.

We know more about Tiger Wood's sex life than we do about the Health Care 'reform' package and if you ask the politicians, off-record of course, they will tell you that that is as it should be.

If you are smart, you will begin preparations for a lower, less prosperous life style because the gavel has fallen and America has been sold.

[Lemaitre]

Originally Posted by vc1111

If you are smart, you will begin preparations for a lower, less prosperous life style because the gavel has fallen and America has been sold.

This is probably true but would happen no matter who won the last election. By November, 2008 the U.S. economy and financial system were already in ruins and likely damaged beyond repair. Obama is flailing around to find solutions but the fact is that by January 2009 he was already walking into a hopeless situation as far as the U.S. economy is concerned. The enormous risks that the financial community recklessly took on until the days of reckoning in September 2008 have doomed us all to lower living standards for years to come.

[jeepkid]

Originally Posted by Lemaitre

This is probably true but would happen no matter who won the last election. By November, 2008 the U.S. economy and financial system were already in ruins and likely damaged beyond repair. Obama is flailing around to find solutions but the fact is that by January 2009 he was already walking into a hopeless situation as far as the U.S. economy is concerned. The enormous risks that the financial community recklessly took on until the days of reckoning in September 2008 have doomed us all to lower living standards for years to come.

There ya go blaming those "greedy" banks...maybe you forgot it was the Government FORCING them to make bad loans...

[Lemaitre]

Originally Posted by jeepkid

There ya go blaming those "greedy" banks...maybe you forgot it was the Government FORCING them to make bad loans...

The idea that the Government forced banks to make bad loans is an urban myth. The banks made these loans because at the time it was very profitable for them to do so. They were collecting huge sums in fees to originate these loans, and then made even bigger profits by securitizing them and selling them on the open market. They also kept a large amount for themselves since they knew that the initial "sucker" interest rates they made the initial loans at would reset at much higher levels in a couple of years. The banks did not worry whether borrowers could pay these higher interest rates or not since they could then just foreclose on what the bankers believed were these ever appreciating assets. They figured they would get the fees for making the loans, profits from securitizing them, more profit when interest rates reset at higher values and could always take the property and resell it for much more than the original loan making even more profit. They were so blinded by greed that they never saw the possibility that real estate and other asset values would crash when the speculative bubble burst and they would be stuck with borrowers that could not repay their loans and collateral worth far less than the amount of loans it secured.

Jeepkid, do some research, learn the facts and then think before blindly posting some of the legends that float around this forum.