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Uncle Sam Forced To Tighten Belt

March 11, 2013

Federal spending cuts labeled “the sequester” will be a terrible calamity, the White House warned during the weeks before they kicked in last Friday....

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(23)

duckster

Mar-11-13 9:14 AM

There is good news and bad news: The bad: we are 16.6 Trillion in the hole. The good: our total economy (GDP, private and public sectors) turns over 20 Trillion dollars each and every year. As long as the US Dollar is the World's default currency the roulette wheel will keep spinning. The enemy is not the poor. The enemy is not dad gum gubment. The enemy are the speculators at the table..

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Howard

Mar-11-13 9:29 AM

This article is total spin.

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PleaseWakeUp

Mar-11-13 10:33 AM

Dear Editor, Get your facts and understanding straight!

"During 2011-12, we taxpayers got a bit of a break in the amount of our paychecks withheld to help pay for Social Security. For two years, 4.2 percent of our pay was withheld for the purpose.

But Obama and Congress allowed that to expire Jan. 1, letting the withholding rate go up to 6.2 percent. Washington is keeping 2 percent more of what you earn than it did last year."

The original 2% reduction was an attempt to help the economy. It was never intended to be a long term reduction.

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Badnewsbear

Mar-11-13 11:12 AM

This pretty much sums it up. All of the grandstanding and doom prophecies were simply political theater. The sequester actually involves no real cuts whatsoever. How can anyone claim that there were cuts made, it next years spending will still be higher than this years, despite the "scary sequester"? Please, what should have happened is all government spending should have been, at a minimum, frozen at current levels and then the sequester cuts implemented. That would have moved the needle in the right direction.

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Badnewsbear

Mar-11-13 12:25 PM

Hey Duck, GDP growth is trending right around 1%. The debt is growing at a much faster rate and will hit $20T by the end of Obama's tenure. At that point, our debt will be at 100% of GDP. Where exactly is the good news? Nothing good can come from our present course.

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GioAllie

Mar-11-13 12:46 PM

Is there another presidential election this november also?

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Badnewsbear

Mar-11-13 12:55 PM

Allie, again, what the heck are you talking about? Please try to have an intelligent and informed comment ready when you decide to inject yourself into the discussion. You are really doing a disservice to yourself in this area.

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GioAllie

Mar-11-13 1:23 PM

Howard, note the 2:55pm words of wisdom from those naive conservatives who fail to recognize the obvious. It may take a while.

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GioAllie

Mar-11-13 1:24 PM

ooops 12:55pm --they'll probably not get it at 2:55pm also.

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Monkeyboy

Mar-11-13 3:36 PM

They will never get it.

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Likert01

Mar-11-13 3:47 PM

Not really. 1 TRILLION TAX dollars later both the f-22 and F-35 are duds. Our Allies have cancelled their orders out of disgust because they can get the same effect for 1/5 the cost. LOL, I'm not making this up. Do some modest research.

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Badnewsbear

Mar-11-13 4:17 PM

So, Allie, what's so obvious about a comment about a presidential election in the middle of a discussion about the effects of the sequester? Frankly, the only people who appear to be naive are those that are blindly following their Fearless Leader and believe the lie after lie that he's been caught in, including those related to the sequester. If you want to go off-topic, no problem, you just might want to make it not look so random and out of place.

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GioAllie

Mar-11-13 4:58 PM

now really, madnews apparantly failed to read howard's on point comment early on, and embarrasses himself again with another feeble attempt to insult someone--perhaps matching wits with lonerider or see dog may prove more successful. They try so hard--------

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GioAllie

Mar-11-13 5:39 PM

I do agree in part --with the title, that is.

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bobbybill

Mar-12-13 9:00 AM

these opinion authors should stick to wailing and gnashing their teeth over how dirty coal is.

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Badnewsbear

Mar-12-13 10:07 PM

Allie, do you have an actual comment or opinion on the sequester, or are you satisfied with your efforts being limited to inane statements?

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Blackwatch

Mar-14-13 2:33 PM

Fact,

Us Debt $16,000,000,000,000.00 US Pop 330,000 people

Each person owes $48,500.00 Average Income in usa = $50,000.00 Income Tax rate currently 17% County tax 7.5% Average US Household income is $50.00000 24.5% goes to the government in taxes leaving me with just 37,750.00 to spend and I still have school taxes and property taxes of $ 2,750.00 leaving me with a disposable income of $35,000.00 a year. BUT I forgot about the $3,253.00 For the NY State debt so my total debt is $48,500.00 + $3,253.00 = $51,753.00

My point is if the government does not increase the debt in the next 10 years it will cost the average American $5,175.30 in EXTRA taxes per year just to pay off the debt.

But here is the clincher, that is per person not household!!!

There are 3 of us in my household so my debt owing $51,753.00 x 3 = $155,259.00

I need to pay $15,525.90 a year for 10 years to pay the debt ONTOP of what I already pay.

That is a tax INCREASE of 31%

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Blackwatch

Mar-14-13 2:36 PM

In Conclusion to by post below,

My tax rate should be 55.5% to pay off all of the government spending.

Obama wants to increase taxes to cover the new spending. 1 Trillion in taxes to cover 1 Trillion in spending..a balanced approach while forgetting the 16 trillion already spent and the INTEREST payments on it.

The math does not add up. Oh and here is the New York State article on our indebtedness to the state... ***********nypost****/p/news/opinion/opedcolumnists/the_new_york_state_debt_threat_dEH4JhEVxebEcveyItjx3J

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GioAllie

Mar-14-13 4:35 PM

"actual comment or opinion on sequester"--3-12-13@10:07pm--Nope none there---shocked anyone?

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GioAllie

Mar-14-13 4:36 PM

"actual comment or opinion on sequester"--3-12-13@10:07pm--Nope none there---shocked anyone?

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PhD1960

Mar-15-13 8:13 PM

Forget the FACT that we're rapidly approaching the $17T debt level, with $20T forecasted by the end of Mr O's little party. Let's take just ONE TRILLION dollars and look at it. If you paid back one dollar per second with NO INTEREST, How long would it take to pay back the $1T? Anyone? Anyone? Bueller? Bueller? Try this on for size, at $1 per second, it would take nearly 32,000 YEARS TO PAY BACK. That's just 1/17th of our current debt, with NO interest. Oh yeah, people. We're definitely headed in the right direction. Proponents of increased gov't spending are greedy, selfish p1g5 who don't care about their children, grandchildren, great-grandchildren being slaves to pay back TODAY'S spending. Trust me, they WILL curse you for your selfishness.

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ironyoozesfromyouryap

Mar-16-13 2:05 PM

I can't take these seriously with all the amateur excessive colorful language. Like they say in creative writing classes - keep it simple, stupid. Excessive language is a sign of an amateur.

These articles just copy the braindead pundit rhetoric they are enamored with.

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ironyoozesfromyouryap

Mar-16-13 2:07 PM

Blackwatch - your math...not sure if it is your math or the excessive typos that makes me laugh harder.

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