Another reason I prep - the Federal deficit

[ATCclears]

I thought this was an interesting read:
I apologize for what you're about to read

Peter

Read More

 

[lowly monk]

Interesting indeed.

 

[trainsktg]

I thought this was an interesting read:
I apologize for what you’re about to read

Peter

Interesting isn't the word .

Keith

 

[maxisback]

Right there with you, ATC, been buying silver again, and wishing I still had the stash I had to sell when I could buy it for $5/oz! This is the reason we prep. Tried to explain QE3 to our receptionist at work and only got the "I'm trying to be positive" line. Sheesh....:huh:

 

[ATCclears]

"Spend, spend, spend..."

The media is alive with talk of the fiscal cliff coming in 2013 due to a bunch of tax cuts that will expire on Jan 1, 2013. They are not yet talking about this, which is that the Federal government is yet again blowing through its budget and now needs more money for the current fiscal year.

Treasury Quietly Warns: 'Expect Debt Limit to Be Reached Near End of 2012' | CNSNews.com

 

[EZLivin]

"This is not a political problem, it's a mathematical one. Facts are facts, no matter how uncomfortable they may be. Today's election is merely a choice of who is going to captain the sinking Titanic."

I agree 100%. That is why the outcome of the election didn't bother me one bit. Historically speaking, the political party at the helm during these crisis periods are booted out of power for a couple of decades and/or or the party disappears completely. That doesn't mean the ones who come to power after the crisis are any better though. But at least that one will likely be gone.

Geez, this late in the game those head-in-the-sand "trying to be positive" fools are just about 100% guaranteed to be one of the multitude who loses just about everything. If someone doesn't get it by now they are so dense you have to wonder if there is any hope for them. The other day I had the displeasure of overhearing Clark Howard on my wife's radio. Some guy was asking him about buying some property outside the country as an economic hedge. Dunce brain Howard said "I'm the wrong guy to ask. I'm an optimist." That idiot "optimist" is leading a lot of sheep to the slaughter.

 

[mjbskwim]

So I'm not a Alex Jones fan at all,but he was interviewing Ron Paul.
Funny guy.Just so 'matter of fact' about everything.
He believes we have already gone over the cliff but just not hit bottom yet.He is so set and nonchalant about how we are on the verge of a complete implosion. He said when he told a college class all about it,he though he would get OMGs all around. But they were happy someone had been straight about our impending doom.

I told my friend I would guess Ron hold his bank accounts like we would keep money for a Vegas trip or the strip club.
Only keep in there what he thought he could afford to lose

I may be shopping for a new neighborhood in Idaho or Montana this time next year

 

[beavertonbuck]

I saw this the other day and its a really stark reminder of what we have in store for us. You hear the numbers all the time but when you break it down into individual components it is worse. The mandatory spending is what scares me because I believe there are only a handful of individuals in Congress that care enough to change the laws about how those programs. And to make that painful cut could actually lead to public unrest on the level with Greece. But if the cut isn't made and more and more people keep getting on the dole when the system runs out of money it is going to get real ugly, real fast.

I think in the coming years that wealthy people are going to be targeted to try and "fill the gap" this is just going to push us to the edge quicker as individuals take their ideas and capital elsewhere or start living off their wealth.

 

[mjbskwim]

For years business owners have switched around how they pay themselves to avoid high taxes. Can't blame them.
They will continue and more will keep their money off shore.
Or move more businesses off shore.......with the remainder of the economy

 

[knuckle Head]

For years business owners have switched around how they pay themselves to avoid high taxes. Can't blame them.
They will continue and more will keep their money off shore.
Or move more businesses off shore.......with the remainder of the economy

I have to say, if I were a business owner with the way congress likes to spend money and then come after them to pay for it you would have to be off your rocker not to try and find ways to hide it or move it off shore.

I was talking to guy at work today abou tthis and said you know all of the loud mouths who say they want to be taxed more are nothing more than a bunch of liars, how do I know this? Very, very simple anyone who feels like they are not being taxed enough or wants to out of the kindness of their heart, can simply write the IRS a ceheck.

""Gifts to the United States Government
How do I make a contribution to the U.S. government?

Citizens who wish to make a general donation to the U.S. government may send contributions to a specific account called "Gifts to the United States." This account was established in 1843 to accept gifts, such as bequests, from individuals wishing to express their patriotism to the United States. Money deposited into this account is for general use by the federal government and can be available for budget needs. These contributions are considered an unconditional gift to the government. Financial gifts can be made by check or money order payable to the United States Treasury and mailed to the address below.

Gifts to the United States
U.S. Department of the Treasury
Credit Accounting Branch
3700 East-West Highway, Room 622D
Hyattsville, MD 20782

Any tax-related questions regarding these contributions should be directed to the Internal Revenue Service at (800) 829-1040.""

<broken link removed>

 

[knuckle Head]

Back to the original Post, the national Debt is a very very good reason to prep., remember after Katrina is was bushs fault three days in that people were back in their homes, well whats it been more than 2 weeks since Sandy and people are being moved into vacant prisons to house for the winter.

Gooberment is broke folks, $16.25 trillion in debt and counting, a nother war and few more major events and where are the funds going to come from to fund the relief of individuals hit by the event. Yeah we should prep for the unexpected, whether is a total shtf situation or getting caught in a snow storm, earth quake or two days - two weeks without power from an ice storm.