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Here are a few ways. I would do it a bit differently, but the point is, it COULD be done, but those in DC on BOTH sides "want what they want" to satisfy those they have to answer to, so it WON'T be done.
http://www.forbes.com/sites/jeffreydorfman/2013/10/03/dont-believe-the-debt-ceiling-hype-the-federal-government-can-survive-without-an-increase/
http://www.downsizinggovernment.org/plan-to-cut-federal-spending
http://www.askheritage.org/how-can-we-cut-federal-spending/
I've also not seen a credible attempt at explaining this one of many political lies away:
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
We won't agree on this topic either, as I see Barry's statement that until the debt limit was raised, he was not willing to even talk about compromise on any spending topic, and never on the ACA, as placing the total blame on him.
Edit -- We'd also disagree on the size of the federal gov't, and I totally believe that 50% of it could be rationed away as total waste, and the country would feel no negative consequences.
IF one accepts that the 2009 budget increases are all Bush's fault -- a highly debatable "fact" -- and IF one believes that PERCENTAGE increases are more meaningful than DOLLAR increase -- another erroneous "fact" when considering the damage done in the comparison increases -- then you MIGHT have a point for believing that Barry is a low spender. But raw numbers don't lie, and increasing the debt of the country by more than almost every other president before him combined puts him at least in the same league as shrub. Amazing how this guy is made of Teflon. Nothing sticks to him in the eyes and "minds" of a liberal. But like I said, the proof will be in the pudding, so to speak. History will not judge him so kindly as you do.
One of my degrees is in Psychology, and you need to learn about "negative reinforcement." If every time you are confronted with "fear," you avoid it, you will never get over your anxiety and other disorders. You, and most here, avoid attempting to answer (or even think about) pointed questions, but rather throw up meaningless drivel and one-liners and insults because the fear of dealing with confronting your beliefs is too overwhelming. In the case of anxiety, this is negative reinforcement, and it will keep you from ever confronting truth. You want to believe because you have an unnatural affection for a man and an ideology that is most flawed, yet you cannot accept to even consider that.
Eventually, if these liberal policies continue and increase, the country will crumble around you, and you will, at some point be forced to see just how wrong your beliefs were. Good luck with that. I hope you have no children and grandchildren, as they will curse your kind for destroying their future.
Really? Low deficits and low spending? Obviously you skip some posts because the truth is too hard to swallow. At least check out the chart on the first link.
Here's another chart to look at and analyze again, as the blame liberals throw around for not enough income versus who is spending too much is kind of shattered by this. When looking at the spending explosion, do the dates sort of jump out as to who was in the cat bird's seat during this time? His quote about deficits in 2006 used the phrase "the buck stops here" when telling the people how he would rule as president. Seriously scary, pitiful, and sad that 53% STILL believe what comes out of his mouth, as if he is any different than any other politician.
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
I was not responding to your specific post. Geez. Lighten up a bit. But, as usual, all a liberal can offer is insults rather than real dialogue. Have a good day.
Just read the first 3-4 small paragraphs, and look at the first chart. Job creation? Only if you are a waiter or a Wal Mart employee. This out of control spending, piss poor policy making, and an artificial plug in the dike by the FED will all end badly. Why anyone can't see this guy is WAY in over his head, OR a total collapse is exactly what the plan is, is beyond me.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/18_The_Scary_Chart_That_Has_Everyone_In_Washington_Terrified.html
Here's another chart to look at and analyze again, as the blame liberals throw around for not enough income versus who is spending too much is kind of shattered by this. When looking at the spending explosion, do the dates sort of jump out as to who was in the cat bird's seat during this time? His quote about deficits in 2006 used the phrase "the buck stops here" when telling the people how he would rule as president. Seriously scary, pitiful, and sad that 53% STILL believe what comes out of his mouth, as if he is any different than any other politician.
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
Just read the first 3-4 small paragraphs, and look at the first chart. Job creation? Only if you are a waiter or a Wal Mart employee. This out of control spending, piss poor policy making, and an artificial plug in the dike by the FED will all end badly. Why anyone can't see this guy is WAY in over his head, OR a total collapse is exactly what the plan is, is beyond me.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/18_The_Scary_Chart_That_Has_Everyone_In_Washington_Terrified.html
Here's another chart to look at and analyze again, as the blame liberals throw around for not enough income versus who is spending too much is kind of shattered by this. When looking at the spending explosion, do the dates sort of jump out as to who was in the cat bird's seat during this time? His quote about deficits in 2006 used the phrase "the buck stops here" when telling the people how he would rule as president. Seriously scary, pitiful, and sad that 53% STILL believe what comes out of his mouth, as if he is any different than any other politician.
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
Just read the first 3-4 small paragraphs, and look at the first chart. Job creation? Only if you are a waiter or a Wal Mart employee. This out of control spending, piss poor policy making, and an artificial plug in the dike by the FED will all end badly. Why anyone can't see this guy is WAY in over his head, OR a total collapse is exactly what the plan is, is beyond me.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/10/18_The_Scary_Chart_That_Has_Everyone_In_Washington_Terrified.html
Here's another chart to look at and analyze again, as the blame liberals throw around for not enough income versus who is spending too much is kind of shattered by this. When looking at the spending explosion, do the dates sort of jump out as to who was in the cat bird's seat during this time? His quote about deficits in 2006 used the phrase "the buck stops here" when telling the people how he would rule as president. Seriously scary, pitiful, and sad that 53% STILL believe what comes out of his mouth, as if he is any different than any other politician.
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
Just the fact that this legislation is so long and complex, like everything in DC to make it near impossible for someone to find the graft and money laundering, should tell you it is bad for the country. Seriously, an excise tax on Tanning Services? This does not make your eyes roll?
and the important parts, that SHOULD make your head spin can be distilled down to this one statement, and it unveils the true nature of this man, who should get no more free passes than any politician who ever graced the hallowed halls in DC, the place of liars, cheats, sociopaths, and psychopaths:
"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. It is a sign that the US Government cannot pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government's reckless fiscal policies. Increasing America's debt weakens us domestically and internationally. Leadership means that, 'the buck stops here.' Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better."
~ Senator Barack H. Obama, March 2006
http://www.politifact.com/truth-o-meter/promises/obameter/
Click the link. So he's 50/50 basically, which is probably on par with any president. But there is no denying, whatever the promises were, it came at a spending spree price, and the country has been plunged into the worse economic position in its history under this president. This fact cannot be changed. If the goal is to actually break the country so a new global system can take over eventually, then the architects are right on schedule.
If they would apply it correctly, and only at the corporations that HAVE those record profits, and only at the individuals who ARE billionaires, but it never happens that way. These guys are FRIENDS and BUDDIES with those in DC, and if you think it's all Republicans, then you are simply incorrect.
Look at this chart:
http://www.taxpolicycenter.org/taxfacts/displayafact.cfm?Docid=200
The IRAQ war began in 2003, and you can see the jump in spending in 2003-2005. But notice that in 2006 REVENUES went way UP and spending stayed fairly flat. But late in 2008 and into 2009, SPENDING went ballistic. To correlate that with a Republican House majority is sheer lunacy. The political pressure and policies of Barry's administration is directly reflected in this chart. Revenues dropped in 2009 before they were elected. Not sure why. But spending in every year of BARRY is OWNED by him and what he signed off on. Do you think he had no hand or control at all in this massive spending spree? You can see revenues did rise in 2011 and 2012, but nothing could keep up with the INSANE spending spree this gov't has been on. And just accepting 1/2 TRILLION dollar deficits forever will not stop the country from falling into ruin.
Sure they should tax that 1% more, but these are the guys paying the way for BOTH sides in DC, so they either will not do it, or they will pass tax increases that will lower the standard of living for those people working very hard to maintain an income of $75,000 - $500,000. By the way, $500,000 is not a billionaire, It's much better than a guy on welfare, but it should be, and there's nothing wrong with that. That's the part of America that is great and has inspired millions to come here.
My point is, those in DC always hurt this group of hard workers with tax increases, barely make it better for the poor, and the top .05% keep getting richer. Why do you think they let the FED keep printing and the stock market keep running?
If they would announce a plane to ONLY raise taxes on those with incomes from working or capital gains at the $5 million and up level, they could raise a ton, not kill the American Dream, help the poor, but it would require they make their closest friends unhappy, so it won't happen.
And if you can analyze that chart and STILL give this President a pass, then there is nothing left to say.
There are ways, but since the solutions all would impact the status of living for those in charge -- they might have to live like multimillionaires instead of god billionaires -- nothing will probably ever be done. It makes me fear a total collapse in the future for some generation, which is most sad.
No. He was a full believer in Darwin like you -- lol. Kept saying things about certain races being proof that we came from monkeys, so you might have been offended at that, eh?
Seriously. You still believe in "hope and change" and that Barry has the most open to the public administration in history. Perhaps you should go back and reread his promises in 2007 and do a comparison. You might then question your own sanity, rather than lashing out at those with more intelligence.
If Bush had done many of the things Barry has, the liberals would be crying he was the evil anti-christ.
You call pointing out the group of people who are destroying the REPUBLIC and also identify themselves with these two words "nuts," and I call it rational and responsible. To inform you that I have hard work and success, degrees with many honors, and measured intelligence tests to back up my claim for intelligence and knowing the difference between nuts, stupidity, uneducated, delusional, and brainwashed with rational and responsible would only inflame you and bring more cries of how evil the rich are, how uncaring conservatives are, and you refuse to believe reality anyway, so good night.
You know, when I was working on one of my degrees, I had to spend some time observing those in a mental ward, back when they actually put a lock and chain on the door once you entered. There was a guy I met who insisted he was Napoleon. He actually played the piano quite beautifully. I think you two would hit it off fabulously.
It would take 100 pages written in crayon to even make an attempt to answer that for you. I'm not up to the task.
You looked up and counted my posts, and then you have the nerve or idiocy to ask me if I know what the words "obsessive" and "compulsive" mean? Now I have actually laughed out loud from a post from a liberal on this board. You should do stand up.
You really cannot read an entire article without fixating on a tiny part and then losing your mind, can you? It's a serious handicap to understanding truth versus distortion and lies . . . something the MSM and DC is very good at.
My mistake. I thought I was talking at a 6th grade level. I'll try to lower that a few grades for this board.
Let's see. Is the one who will double the national debt in 8 years and spend as much as all other Presidents combined who came before him? You are really a glass half full kind of person when it comes to Barry and the ol' hope and change brigade. Too pathetically funny and sad.
Now trot out some figure manipulator who can, through a series of hocus pocus, prove to a brain dead liberal that everything was Bush's fault, and Obama simply saved the country from his decisions.
Shrub was pathetic fiscally, but Barry is even worse, and no one would have thought that possible from the guy who promised the most transparent gov't EVER! How's that panned out for you? LOL
33 Stats That Prove That SOMETHING Desperately Needs To Be Done About The National Debt
The U.S. national debt is 36 times larger than it was just 40 years ago. That is not a misprint. That is actually the truth. We are literally destroying the future of America, but most Americans don’t really seem to care. In fact, the most hated politicians in America are the Tea Party politicians that recently tried to take a stand against the out of control borrowing that the federal government has been doing. Pew Research has just released a new survey that shows that the popularity of the Tea Party is at an all-time low. So while many Americans may say that they theoretically want something to be done about the national debt, when push comes to shove they don’t actually mean that. You see, the reality of the matter is that about 128 million Americans get money from the federal government every month. That accounts for the majority of all government spending. Anyone who tries to take those goodies away is going to be hated. So we are going to continue down this crazy path until the system completely crashes someday.
The “deal” that was just made in Congress does nothing to reduce our spending or control the growth of our debt. It just kicks the decisions about government spending and the debt ceiling down the road for a few months.
In fact, the agreement on the debt ceiling did not actually place any limits on how much the federal government can borrow over the next few months. It just temporarily suspended enforcement of the debt ceiling. So the federal government could technically go out and borrow trillions of dollars during the next few months and nobody could do anything about it.
Let’s hope that does not happen.
And of course the “debt deal” contained all kinds of pork that will benefit certain politicians that were instrumental in putting together the deal.
When are the American people finally going to get sick and tired of this kind of thing?
Meanwhile, our debt problem continues to get even worse. The following are 33 stats that prove that SOMETHING desperately needs to be done about the national debt…
#1 The U.S. national debt is on pace to more than double during Obama’s eight years in the White House. In other words, under Barack Obama the United States will accumulate more debt than it did under all of the other presidents in U.S. history combined.
#2 During fiscal year 2013, the U.S. Treasury paid off $7,546,726,000,000 in maturing U.S. government debt and issued $8,323,949,000,000 in new debt. In fiscal year 2014 those numbers will be even larger.
#3 In September, the average rate of interest on the government’s marketable debt was 1.981 percent. In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent. If we got back to that level today, it would collapse our entire financial system.
#4 Between 2008 and 2012, the ratio of government debt to government income increased from 4.0 to 6.6.
#5 Between 2008 and 2012, U.S. government debt grew by 60.7 percent, but U.S. GDP only grew by a total of about 8.5 percent during that entire time period.
#6 Since 2007, the U.S. debt to GDP ratio has increased from 66.6 percent to 101.6 percent.
#7 A revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.
#8 At this point, the federal government hands out money to approximately 128 million Americans every single month. In case you were wondering, that is about 41.3 percent of the population of the entire country.
#9 Back in 1980, the U.S. national debt was less than one trillion dollars. Today, it is rapidly approaching 17 trillion dollars.
#10 Since the year 2000, the size of the U.S. national debt has grown by more than 11 trillion dollars.
#11 During Barack Obama’s first four years in the White House, the amount of new debt accumulated by the federal government breaks down to approximately $50,521 for every single household in the United States.
#12 The United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.
#13 At this point, the United States government is responsible for about a third of all the government debt in the entire world.
#14 According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt.
#15 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.
#16 If the federal government used GAAP accounting standards like publicly traded corporations do, the real federal budget deficit for 2011 would have been 5 trillion dollars instead of 1.3 trillion dollars.
#17 As I noted recently, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.
#18 How much money is one trillion dollars? If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.
#19 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.
#20 If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 189,000 years to pay it off.
#21 The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first established in 1913.
#22 If Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.
#23 The federal government is stealing close to 100 million dollars from our children and our grandchildren every single hour of every single day.
#24 Historically, the interest rate on 10 year U.S. Treasuries has averaged 6.68 percent. If the average interest rate on U.S. government debt rose to that level today, the U.S. government would find itself spending more than a trillion dollars per year just on interest on the national debt.
#25 Federal spending on entitlement programs has been increasing six times faster than population growth has.
#26 Overall, the federal government runs nearly 80 different “means-tested welfare programs“, and almost all of them are experiencing explosive growth.
#27 According to a Government Accountability Office report that was released earlier this year, Obamacare is going to cause the federal debt to rise by $6.2 trillion.
#28 If you can believe it, today more than 70 million Americans are on Medicaid, and it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
#29 As I have written about previously, the number of Americans on Medicare is projected to grow from a little bit more than 50 million today to 73.2 million in 2025.
#30 Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for each and every household in the United States.
#31 It is being projected that the number of Americans on Social Security will rise from about 62 million today to more than 100 million in 25 years.
#32 Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.
#33 Boston University economist Laurence Kotlikoff is warning that the U.S. government is facing a gigantic tsunami of unfunded liabilities in the coming years that we are counting on our children and our grandchildren to pay. Kotlikoff speaks of a “fiscal gap” which he defines as “the present value difference between projected future spending and revenue”. His calculations have led him to the conclusion that the federal government is facing a fiscal gap of 222 trillion dollars in the years ahead.
Our financial situation is clearly not even close to sustainable. We are heading for an inevitable collapse, but in the aftermath of the “deal” in Congress, Barack Obama declared that all Americans “need to stop focusing on the lobbyists, and the bloggers, and the talking heads on radio”. Apparently he does not want you reading articles like this or listening to radio programs that are warning about the dangers of our national debt.
At the same time, the U.S. government continues to waste money in some of the most bizarre ways imaginable. It is almost as if they don’t even care that they are destroying the future of our children and our grandchildren with their incredibly reckless spending.
And of course the mainstream media is very much on the side of the big spenders. In recent weeks, those that identify themselves with the Tea Party have been endlessly called names on the big mainstream news networks even though they are just about the only ones that are trying to pull us back from the path to self-destruction that we are on.
The big mainstream news networks have portrayed those that identify with the Tea Party as idiots and morons, but the truth is that studies have found that Tea Partiers are better educated, more scientifically literate and have higher incomes than the general population.
The real idiots and morons are the ones that want us to continue down this road to financial oblivion. We have accumulated the largest mountain of debt in the history of the world, and unless something dramatic is done, America is not going to have any kind of a future.
http://endoftheamericandream.com/archives/33-stats-that-prove-that-something-desperately-needs-to-be-done-about-the-national-debt
33 Stats That Prove That SOMETHING Desperately Needs To Be Done About The National Debt
The U.S. national debt is 36 times larger than it was just 40 years ago. That is not a misprint. That is actually the truth. We are literally destroying the future of America, but most Americans don’t really seem to care. In fact, the most hated politicians in America are the Tea Party politicians that recently tried to take a stand against the out of control borrowing that the federal government has been doing. Pew Research has just released a new survey that shows that the popularity of the Tea Party is at an all-time low. So while many Americans may say that they theoretically want something to be done about the national debt, when push comes to shove they don’t actually mean that. You see, the reality of the matter is that about 128 million Americans get money from the federal government every month. That accounts for the majority of all government spending. Anyone who tries to take those goodies away is going to be hated. So we are going to continue down this crazy path until the system completely crashes someday.
The “deal” that was just made in Congress does nothing to reduce our spending or control the growth of our debt. It just kicks the decisions about government spending and the debt ceiling down the road for a few months.
In fact, the agreement on the debt ceiling did not actually place any limits on how much the federal government can borrow over the next few months. It just temporarily suspended enforcement of the debt ceiling. So the federal government could technically go out and borrow trillions of dollars during the next few months and nobody could do anything about it.
Let’s hope that does not happen.
And of course the “debt deal” contained all kinds of pork that will benefit certain politicians that were instrumental in putting together the deal.
When are the American people finally going to get sick and tired of this kind of thing?
Meanwhile, our debt problem continues to get even worse. The following are 33 stats that prove that SOMETHING desperately needs to be done about the national debt…
#1 The U.S. national debt is on pace to more than double during Obama’s eight years in the White House. In other words, under Barack Obama the United States will accumulate more debt than it did under all of the other presidents in U.S. history combined.
#2 During fiscal year 2013, the U.S. Treasury paid off $7,546,726,000,000 in maturing U.S. government debt and issued $8,323,949,000,000 in new debt. In fiscal year 2014 those numbers will be even larger.
#3 In September, the average rate of interest on the government’s marketable debt was 1.981 percent. In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent. If we got back to that level today, it would collapse our entire financial system.
#4 Between 2008 and 2012, the ratio of government debt to government income increased from 4.0 to 6.6.
#5 Between 2008 and 2012, U.S. government debt grew by 60.7 percent, but U.S. GDP only grew by a total of about 8.5 percent during that entire time period.
#6 Since 2007, the U.S. debt to GDP ratio has increased from 66.6 percent to 101.6 percent.
#7 A revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.
#8 At this point, the federal government hands out money to approximately 128 million Americans every single month. In case you were wondering, that is about 41.3 percent of the population of the entire country.
#9 Back in 1980, the U.S. national debt was less than one trillion dollars. Today, it is rapidly approaching 17 trillion dollars.
#10 Since the year 2000, the size of the U.S. national debt has grown by more than 11 trillion dollars.
#11 During Barack Obama’s first four years in the White House, the amount of new debt accumulated by the federal government breaks down to approximately $50,521 for every single household in the United States.
#12 The United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.
#13 At this point, the United States government is responsible for about a third of all the government debt in the entire world.
#14 According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt.
#15 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.
#16 If the federal government used GAAP accounting standards like publicly traded corporations do, the real federal budget deficit for 2011 would have been 5 trillion dollars instead of 1.3 trillion dollars.
#17 As I noted recently, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.
#18 How much money is one trillion dollars? If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.
#19 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.
#20 If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 189,000 years to pay it off.
#21 The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first established in 1913.
#22 If Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.
#23 The federal government is stealing close to 100 million dollars from our children and our grandchildren every single hour of every single day.
#24 Historically, the interest rate on 10 year U.S. Treasuries has averaged 6.68 percent. If the average interest rate on U.S. government debt rose to that level today, the U.S. government would find itself spending more than a trillion dollars per year just on interest on the national debt.
#25 Federal spending on entitlement programs has been increasing six times faster than population growth has.
#26 Overall, the federal government runs nearly 80 different “means-tested welfare programs“, and almost all of them are experiencing explosive growth.
#27 According to a Government Accountability Office report that was released earlier this year, Obamacare is going to cause the federal debt to rise by $6.2 trillion.
#28 If you can believe it, today more than 70 million Americans are on Medicaid, and it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
#29 As I have written about previously, the number of Americans on Medicare is projected to grow from a little bit more than 50 million today to 73.2 million in 2025.
#30 Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for each and every household in the United States.
#31 It is being projected that the number of Americans on Social Security will rise from about 62 million today to more than 100 million in 25 years.
#32 Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.
#33 Boston University economist Laurence Kotlikoff is warning that the U.S. government is facing a gigantic tsunami of unfunded liabilities in the coming years that we are counting on our children and our grandchildren to pay. Kotlikoff speaks of a “fiscal gap” which he defines as “the present value difference between projected future spending and revenue”. His calculations have led him to the conclusion that the federal government is facing a fiscal gap of 222 trillion dollars in the years ahead.
Our financial situation is clearly not even close to sustainable. We are heading for an inevitable collapse, but in the aftermath of the “deal” in Congress, Barack Obama declared that all Americans “need to stop focusing on the lobbyists, and the bloggers, and the talking heads on radio”. Apparently he does not want you reading articles like this or listening to radio programs that are warning about the dangers of our national debt.
At the same time, the U.S. government continues to waste money in some of the most bizarre ways imaginable. It is almost as if they don’t even care that they are destroying the future of our children and our grandchildren with their incredibly reckless spending.
And of course the mainstream media is very much on the side of the big spenders. In recent weeks, those that identify themselves with the Tea Party have been endlessly called names on the big mainstream news networks even though they are just about the only ones that are trying to pull us back from the path to self-destruction that we are on.
The big mainstream news networks have portrayed those that identify with the Tea Party as idiots and morons, but the truth is that studies have found that Tea Partiers are better educated, more scientifically literate and have higher incomes than the general population.
The real idiots and morons are the ones that want us to continue down this road to financial oblivion. We have accumulated the largest mountain of debt in the history of the world, and unless something dramatic is done, America is not going to have any kind of a future.
http://endoftheamericandream.com/archives/33-stats-that-prove-that-something-desperately-needs-to-be-done-about-the-national-debt
33 Stats That Prove That SOMETHING Desperately Needs To Be Done About The National Debt
The U.S. national debt is 36 times larger than it was just 40 years ago. That is not a misprint. That is actually the truth. We are literally destroying the future of America, but most Americans don’t really seem to care. In fact, the most hated politicians in America are the Tea Party politicians that recently tried to take a stand against the out of control borrowing that the federal government has been doing. Pew Research has just released a new survey that shows that the popularity of the Tea Party is at an all-time low. So while many Americans may say that they theoretically want something to be done about the national debt, when push comes to shove they don’t actually mean that. You see, the reality of the matter is that about 128 million Americans get money from the federal government every month. That accounts for the majority of all government spending. Anyone who tries to take those goodies away is going to be hated. So we are going to continue down this crazy path until the system completely crashes someday.
The “deal” that was just made in Congress does nothing to reduce our spending or control the growth of our debt. It just kicks the decisions about government spending and the debt ceiling down the road for a few months.
In fact, the agreement on the debt ceiling did not actually place any limits on how much the federal government can borrow over the next few months. It just temporarily suspended enforcement of the debt ceiling. So the federal government could technically go out and borrow trillions of dollars during the next few months and nobody could do anything about it.
Let’s hope that does not happen.
And of course the “debt deal” contained all kinds of pork that will benefit certain politicians that were instrumental in putting together the deal.
When are the American people finally going to get sick and tired of this kind of thing?
Meanwhile, our debt problem continues to get even worse. The following are 33 stats that prove that SOMETHING desperately needs to be done about the national debt…
#1 The U.S. national debt is on pace to more than double during Obama’s eight years in the White House. In other words, under Barack Obama the United States will accumulate more debt than it did under all of the other presidents in U.S. history combined.
#2 During fiscal year 2013, the U.S. Treasury paid off $7,546,726,000,000 in maturing U.S. government debt and issued $8,323,949,000,000 in new debt. In fiscal year 2014 those numbers will be even larger.
#3 In September, the average rate of interest on the government’s marketable debt was 1.981 percent. In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent. If we got back to that level today, it would collapse our entire financial system.
#4 Between 2008 and 2012, the ratio of government debt to government income increased from 4.0 to 6.6.
#5 Between 2008 and 2012, U.S. government debt grew by 60.7 percent, but U.S. GDP only grew by a total of about 8.5 percent during that entire time period.
#6 Since 2007, the U.S. debt to GDP ratio has increased from 66.6 percent to 101.6 percent.
#7 A revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.
#8 At this point, the federal government hands out money to approximately 128 million Americans every single month. In case you were wondering, that is about 41.3 percent of the population of the entire country.
#9 Back in 1980, the U.S. national debt was less than one trillion dollars. Today, it is rapidly approaching 17 trillion dollars.
#10 Since the year 2000, the size of the U.S. national debt has grown by more than 11 trillion dollars.
#11 During Barack Obama’s first four years in the White House, the amount of new debt accumulated by the federal government breaks down to approximately $50,521 for every single household in the United States.
#12 The United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.
#13 At this point, the United States government is responsible for about a third of all the government debt in the entire world.
#14 According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt.
#15 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.
#16 If the federal government used GAAP accounting standards like publicly traded corporations do, the real federal budget deficit for 2011 would have been 5 trillion dollars instead of 1.3 trillion dollars.
#17 As I noted recently, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.
#18 How much money is one trillion dollars? If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.
#19 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.
#20 If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 189,000 years to pay it off.
#21 The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first established in 1913.
#22 If Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.
#23 The federal government is stealing close to 100 million dollars from our children and our grandchildren every single hour of every single day.
#24 Historically, the interest rate on 10 year U.S. Treasuries has averaged 6.68 percent. If the average interest rate on U.S. government debt rose to that level today, the U.S. government would find itself spending more than a trillion dollars per year just on interest on the national debt.
#25 Federal spending on entitlement programs has been increasing six times faster than population growth has.
#26 Overall, the federal government runs nearly 80 different “means-tested welfare programs“, and almost all of them are experiencing explosive growth.
#27 According to a Government Accountability Office report that was released earlier this year, Obamacare is going to cause the federal debt to rise by $6.2 trillion.
#28 If you can believe it, today more than 70 million Americans are on Medicaid, and it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
#29 As I have written about previously, the number of Americans on Medicare is projected to grow from a little bit more than 50 million today to 73.2 million in 2025.
#30 Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for each and every household in the United States.
#31 It is being projected that the number of Americans on Social Security will rise from about 62 million today to more than 100 million in 25 years.
#32 Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.
#33 Boston University economist Laurence Kotlikoff is warning that the U.S. government is facing a gigantic tsunami of unfunded liabilities in the coming years that we are counting on our children and our grandchildren to pay. Kotlikoff speaks of a “fiscal gap” which he defines as “the present value difference between projected future spending and revenue”. His calculations have led him to the conclusion that the federal government is facing a fiscal gap of 222 trillion dollars in the years ahead.
Our financial situation is clearly not even close to sustainable. We are heading for an inevitable collapse, but in the aftermath of the “deal” in Congress, Barack Obama declared that all Americans “need to stop focusing on the lobbyists, and the bloggers, and the talking heads on radio”. Apparently he does not want you reading articles like this or listening to radio programs that are warning about the dangers of our national debt.
At the same time, the U.S. government continues to waste money in some of the most bizarre ways imaginable. It is almost as if they don’t even care that they are destroying the future of our children and our grandchildren with their incredibly reckless spending.
And of course the mainstream media is very much on the side of the big spenders. In recent weeks, those that identify themselves with the Tea Party have been endlessly called names on the big mainstream news networks even though they are just about the only ones that are trying to pull us back from the path to self-destruction that we are on.
The big mainstream news networks have portrayed those that identify with the Tea Party as idiots and morons, but the truth is that studies have found that Tea Partiers are better educated, more scientifically literate and have higher incomes than the general population.
The real idiots and morons are the ones that want us to continue down this road to financial oblivion. We have accumulated the largest mountain of debt in the history of the world, and unless something dramatic is done, America is not going to have any kind of a future.
http://endoftheamericandream.com/archives/33-stats-that-prove-that-something-desperately-needs-to-be-done-about-the-national-debt
33 Stats That Prove That SOMETHING Desperately Needs To Be Done About The National Debt
The U.S. national debt is 36 times larger than it was just 40 years ago. That is not a misprint. That is actually the truth. We are literally destroying the future of America, but most Americans don’t really seem to care. In fact, the most hated politicians in America are the Tea Party politicians that recently tried to take a stand against the out of control borrowing that the federal government has been doing. Pew Research has just released a new survey that shows that the popularity of the Tea Party is at an all-time low. So while many Americans may say that they theoretically want something to be done about the national debt, when push comes to shove they don’t actually mean that. You see, the reality of the matter is that about 128 million Americans get money from the federal government every month. That accounts for the majority of all government spending. Anyone who tries to take those goodies away is going to be hated. So we are going to continue down this crazy path until the system completely crashes someday.
The “deal” that was just made in Congress does nothing to reduce our spending or control the growth of our debt. It just kicks the decisions about government spending and the debt ceiling down the road for a few months.
In fact, the agreement on the debt ceiling did not actually place any limits on how much the federal government can borrow over the next few months. It just temporarily suspended enforcement of the debt ceiling. So the federal government could technically go out and borrow trillions of dollars during the next few months and nobody could do anything about it.
Let’s hope that does not happen.
And of course the “debt deal” contained all kinds of pork that will benefit certain politicians that were instrumental in putting together the deal.
When are the American people finally going to get sick and tired of this kind of thing?
Meanwhile, our debt problem continues to get even worse. The following are 33 stats that prove that SOMETHING desperately needs to be done about the national debt…
#1 The U.S. national debt is on pace to more than double during Obama’s eight years in the White House. In other words, under Barack Obama the United States will accumulate more debt than it did under all of the other presidents in U.S. history combined.
#2 During fiscal year 2013, the U.S. Treasury paid off $7,546,726,000,000 in maturing U.S. government debt and issued $8,323,949,000,000 in new debt. In fiscal year 2014 those numbers will be even larger.
#3 In September, the average rate of interest on the government’s marketable debt was 1.981 percent. In January 2000, the average rate of interest on the government’s marketable debt was 6.620 percent. If we got back to that level today, it would collapse our entire financial system.
#4 Between 2008 and 2012, the ratio of government debt to government income increased from 4.0 to 6.6.
#5 Between 2008 and 2012, U.S. government debt grew by 60.7 percent, but U.S. GDP only grew by a total of about 8.5 percent during that entire time period.
#6 Since 2007, the U.S. debt to GDP ratio has increased from 66.6 percent to 101.6 percent.
#7 A revised IMF policy paper entitled “An Analysis of U.S. Fiscal and Generational Imbalances: Who Will Pay and How?” projects that U.S. government debt will rise to about 400 percent of GDP by the year 2050.
#8 At this point, the federal government hands out money to approximately 128 million Americans every single month. In case you were wondering, that is about 41.3 percent of the population of the entire country.
#9 Back in 1980, the U.S. national debt was less than one trillion dollars. Today, it is rapidly approaching 17 trillion dollars.
#10 Since the year 2000, the size of the U.S. national debt has grown by more than 11 trillion dollars.
#11 During Barack Obama’s first four years in the White House, the amount of new debt accumulated by the federal government breaks down to approximately $50,521 for every single household in the United States.
#12 The United States already has more government debt per capita than Greece, Portugal, Italy, Ireland or Spain.
#13 At this point, the United States government is responsible for about a third of all the government debt in the entire world.
#14 According to the U.S. Treasury, foreigners hold approximately 5.6 trillion dollars of our debt.
#15 The amount of U.S. government debt held by foreigners is about 5 times larger than it was just a decade ago.
#16 If the federal government used GAAP accounting standards like publicly traded corporations do, the real federal budget deficit for 2011 would have been 5 trillion dollars instead of 1.3 trillion dollars.
#17 As I noted recently, if the U.S. national debt was reduced to a stack of one dollar bills it would circle the earth at the equator 45 times.
#18 How much money is one trillion dollars? If you were alive when Jesus Christ was born and you spent one million dollars every single day since that point, you still would not have spent one trillion dollars by now.
#19 If right this moment you went out and started spending one dollar every single second, it would take you more than 31,000 years to spend one trillion dollars.
#20 If you started paying off just the new debt that the U.S. has accumulated during the Obama administration at the rate of one dollar per second, it would take more than 189,000 years to pay it off.
#21 The U.S. national debt is now more than 5000 times larger than it was when the Federal Reserve was first established in 1913.
#22 If Bill Gates gave every single penny of his entire fortune to the U.S. government, it would only cover the U.S. budget deficit for 15 days.
#23 The federal government is stealing close to 100 million dollars from our children and our grandchildren every single hour of every single day.
#24 Historically, the interest rate on 10 year U.S. Treasuries has averaged 6.68 percent. If the average interest rate on U.S. government debt rose to that level today, the U.S. government would find itself spending more than a trillion dollars per year just on interest on the national debt.
#25 Federal spending on entitlement programs has been increasing six times faster than population growth has.
#26 Overall, the federal government runs nearly 80 different “means-tested welfare programs“, and almost all of them are experiencing explosive growth.
#27 According to a Government Accountability Office report that was released earlier this year, Obamacare is going to cause the federal debt to rise by $6.2 trillion.
#28 If you can believe it, today more than 70 million Americans are on Medicaid, and it is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.
#29 As I have written about previously, the number of Americans on Medicare is projected to grow from a little bit more than 50 million today to 73.2 million in 2025.
#30 Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for each and every household in the United States.
#31 It is being projected that the number of Americans on Social Security will rise from about 62 million today to more than 100 million in 25 years.
#32 Overall, the Social Security system is facing a 134 trillion dollar shortfall over the next 75 years.
#33 Boston University economist Laurence Kotlikoff is warning that the U.S. government is facing a gigantic tsunami of unfunded liabilities in the coming years that we are counting on our children and our grandchildren to pay. Kotlikoff speaks of a “fiscal gap” which he defines as “the present value difference between projected future spending and revenue”. His calculations have led him to the conclusion that the federal government is facing a fiscal gap of 222 trillion dollars in the years ahead.
Our financial situation is clearly not even close to sustainable. We are heading for an inevitable collapse, but in the aftermath of the “deal” in Congress, Barack Obama declared that all Americans “need to stop focusing on the lobbyists, and the bloggers, and the talking heads on radio”. Apparently he does not want you reading articles like this or listening to radio programs that are warning about the dangers of our national debt.
At the same time, the U.S. government continues to waste money in some of the most bizarre ways imaginable. It is almost as if they don’t even care that they are destroying the future of our children and our grandchildren with their incredibly reckless spending.
And of course the mainstream media is very much on the side of the big spenders. In recent weeks, those that identify themselves with the Tea Party have been endlessly called names on the big mainstream news networks even though they are just about the only ones that are trying to pull us back from the path to self-destruction that we are on.
The big mainstream news networks have portrayed those that identify with the Tea Party as idiots and morons, but the truth is that studies have found that Tea Partiers are better educated, more scientifically literate and have higher incomes than the general population.
The real idiots and morons are the ones that want us to continue down this road to financial oblivion. We have accumulated the largest mountain of debt in the history of the world, and unless something dramatic is done, America is not going to have any kind of a future.
http://endoftheamericandream.com/archives/33-stats-that-prove-that-something-desperately-needs-to-be-done-about-the-national-debt
Shamefully, like a third-world despot, at a Medal of Honor ceremony, Obama again referred to the U.S. Military as “my military.” It’s not a “slip of the tongue,” because as this video shows, he’s said it multiple times.
Shamefully, like a third-world despot, at a Medal of Honor ceremony, Obama again referred to the U.S. Military as “my military.” It’s not a “slip of the tongue,” because as this video shows, he’s said it multiple times.
Shamefully, like a third-world despot, at a Medal of Honor ceremony, Obama again referred to the U.S. Military as “my military.” It’s not a “slip of the tongue,” because as this video shows, he’s said it multiple times.
It's astounding that the KoolAider's...the same folks who will unionize and strike at the drop of a hat over THEIR wages...think that medicine is an altruistic pursuit populated by the equivalent of clergy. Wrong! A physician is a service provider who, like anyone else, is trying to maximize the return on their time and effort investment. Certainly any physician holds great sway over the life and well-being of his clients and patients. But so does an airline pilot, a bus driver or anyone else who is responsible for the well-being and welfare of others during the execution of their job. So why do the Progressives and liberals think that doctors are different? Because in the 'pretendy' world of liberal ideology, doctors are just a means to an end. Liberals can't make their ideological madness work unless they make people malleable. We have seen that we are all malleable when it comes to taxes...so doctors are malleable when it comes to how much they may be expected to earn for their valuable service. They are being converted without their assent to useful idiots for the cause. Except they're not idiots! So, doctors are given few choices to buck the system. They can settle for less income and a greater workload as a concession to the Progressive loonies, and the edification of their "Grand Leaders" or doctors can think about their well being and skip out. By and large, doctors are smart people and I can't imagine many settling for the former and not defaulting for the latter...or for engaging in the only vestige of capitalism remaining for them...concierge medicine. The Constitution doesn't say that everyone except doctors have freedom and liberty. So long as doctors have the freedom to exit the onerous, humiliating system that is Obamacare, I believe they will take that opportunity. And if our collective national health suffers, too bad!
It's astounding that the KoolAider's...the same folks who will unionize and strike at the drop of a hat over THEIR wages...think that medicine is an altruistic pursuit populated by the equivalent of clergy. Wrong! A physician is a service provider who, like anyone else, is trying to maximize the return on their time and effort investment. Certainly any physician holds great sway over the life and well-being of his clients and patients. But so does an airline pilot, a bus driver or anyone else who is responsible for the well-being and welfare of others during the execution of their job. So why do the Progressives and liberals think that doctors are different? Because in the 'pretendy' world of liberal ideology, doctors are just a means to an end. Liberals can't make their ideological madness work unless they make people malleable. We have seen that we are all malleable when it comes to taxes...so doctors are malleable when it comes to how much they may be expected to earn for their valuable service. They are being converted without their assent to useful idiots for the cause. Except they're not idiots! So, doctors are given few choices to buck the system. They can settle for less income and a greater workload as a concession to the Progressive loonies, and the edification of their "Grand Leaders" or doctors can think about their well being and skip out. By and large, doctors are smart people and I can't imagine many settling for the former and not defaulting for the latter...or for engaging in the only vestige of capitalism remaining for them...concierge medicine. The Constitution doesn't say that everyone except doctors have freedom and liberty. So long as doctors have the freedom to exit the onerous, humiliating system that is Obamacare, I believe they will take that opportunity. And if our collective national health suffers, too bad!
If a person can take care of their actions with their own funds, then I don't care what they do. We were talking about those who come with a hand out for all their needs. If you want others to take care of you, then the rules for your life, liberty, and happiness should be very different that the guy working hard and supporting himself and all of his dependents. Why is this concept so difficult for the liberal mind?
Two completely different issues with two completely different solutions, which any thinking person would easily realize. You don't discount obvious solutions for some problems simply because you don't have immediate solutions to ALL problems . . . unless you are a liberal or a politician, I suppose.
Liberals are so predictable. I've said before that if they develop the same thing for men, they should be included as well if they are TAKERS from society.
When a man has more than one baby out of wedlock, should he be sterilized? YOU BET!
Small percentage to you, but large to those businesses with 50+, and it is a major issue for them. Let's just see how it affects unemployment, etc. I think they should have set that limit at 500+, as it is the ultra-rich companies that need policing, if anyone does.