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We owe China

Political Picture - George W. Bush

We owe China $350 Billion of these things!?!?

(George W. Bush)

picture: Ladypolitik. lol caption: findplo

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» 39 comments

  1. Sponge says:

    Face it Bush… you’re screwed

  2. Jamie says:

    Sigh…blame the republicans as usual. Don’t blame a whole party just because that moron is in charge. After all, the Dems are in charge of congress. Look what kind of mess they’ve made. We can’t even make our own gas because they’ve outlawed drilling off-shore, in AK, and restricted the construction of new refineries with their “global warming” crap. Honestly, not one good thing has come out of DC in about 20 years.
    And with that being said, I’m not republican, just conservative.

    • fillerbunny says:

      you’re right…. except, who kept writing him the blank checks? And bending over backwards for his every “conservative” whim?

      Oh, that’s right- The Republican’ts.

      • matchew says:

        Please don’t confuse Republicans and Conservatives. They used to be somewhat synonymous, but I think that went out the window somewhere in the last decade or two.

        Conservatives believe in limited govt, with more freedom to the individual to make something of themselves or screw up their own lives. Does that sound like what has been happening for the last eight years?

        Methinks not.

        There are only a handful of Conservatives in Congress. The rest are Republicrats, who don’t really stand for much of anything.

        • fillerbunny says:

          Republicrats? Oy….

          And by your definition, Conservatives should be neither Christian nor part of a stable, modern society.

          There’s a reason we’re called Progressives, though when you see that word you probably see “Lie-bural” and giggle to yourself….

          • matchew says:

            How is belief in individual freedom inconsistent with Christianity? That would only be true if Christianity required people to check their individual identity at the door and become a zombie. That certainly doesn’t match the church I go to.

            ‘A stable, modern society’ – if your definition of stable and modern includes having most of my life scripted by the government intelligentsia who are so much smarter than me, yes I prefer instability. I like to know that if I risk much and work hard, there is a reasonable chance that I might achieve great reward. I like the thought that I can then use those rewards to help others who are willing to apply themselves to better their situation too. That’s what conservatives have done in this country for a couple o’ hundred years.

            Jesus said true religion was caring for the orphans and widows. Me and my Bible-thumping buddies have been busy adopting orphans, building homes for those who couldn’t afford them, and taking meals to the elderly (just for starters). We are making things more stable for a lot of people.

            And we use power tools, so we are modern too.

            When I see the word ‘Progressive’, I don’t think liberal. I think of people who choose to see the rather small amount of evil and greed in the current system rather than the tremendous amount of good that happens all the time. That doesn’t make me giggle.

    • independent liberal says:

      @Jamie:

      a) the dems aren’t in charge of congress, they hold a majority by one senator and can’t get any of their bills passed or stop any of Bush’s. The white house still controlls congress.

      b) are you aware that because of previous agreements, if we did drill in Alaska that oil would be sold to Japan, China, and other parts of the world? It wouldn’t go into Amerian cars, it’s a moneymaker for the oil companies, period. Oregon Senator Ron Wyden tried to get introduced into the bill an amendment that stipulated that any oil from ANWR would be kept in America for american consumers and it was defeated. The Alaskan Senator voted against it. “This isn’t about the energy security of America; it is about the energy security of China and Japan. We are going to defile this wildlife refuge to drill for oil that can be exported, that won’t even benefit the United States. Why would we do that? There is only one reason–because the oil companies will make a huge profit off of it. ” (Sen. Dick Durbin). Aside from that, it won’t help in the end because U.S. soil holds 3% of the world’s oil and we consume 25%. ANWR is irrelevant to our energy crisis.

      c) the building of new refineries isn’t restricted by global warming concerns. “Building a refinery is expensive, there are a lot of environmental restrictions on where and how they can be built and nobody wants to live near one.” (factcheck.org) A new refinery would have to operate for over a decade before their profits would have paid for it’s construction.

      But the fact is, we HAD plenty of refineries twenty years ago, we had an oversupply and the oil companies were losing profits. Then, over the last two decades HALF of our refineries have been shut down. Now we have a shortage. Who’s posting record breaking profits? Oil companies? Really? Wonder how they managed that?

    • Ben says:

      You’re denying Global Warming? You really think dumping smog into the sky won’t do anything to the planet? That’s like saying dumping toxic waste into the ocean won’t do anything to the fish!

  3. Ryan says:

    Man Matchew, you should vote democrat. Clinton did what Reagan never could; balance the federal budget!

    Do “conservatives” actually believe that disowning and admonishing the republicans more/faster is going to convince a soul out there? It is funny really, they can tell that in the mind of that “silent majority” that Republican = bad but they still think that the “silent majority” is on board with their conservative agenda (whatever that is, I doubt they even really know anymore).
    The retort is of course, “I believe in small government and more individual freedoms!” Which is essentially the same as saying, “I believe in less bad and more good!” It is about as far from meaningful or an actionable plan as it is possible to get.

    • matchew says:

      Specifics, then.

      1) History has shown repeatedly and recently that taxation serves to lower everyone’s standard of living rather than help raise anyone’s. You will find that to be true at the local level (check Atlanta’s ‘success’ with raising taxes and lowering revenues), the state level (Michigan, anyone?), and the fed level (check the effects of the Kennedy tax cut, just to keep it bipartisan).

      Scrap the ridiculous tax code and get back to something simpler. (And don’t give me the retort about the Bush tax cuts only helping the rich – that helped us fund an adoption, and we ain’t rich).

      Start with eliminating the death tax and the capital gains tax – they hit a lot broader target than was ever intended, the death tax is double taxation on the same money, and the capital gains tax discourages investment.

      2) Eliminate earmarks and put in term limits. The founders never intended there to be a ‘political class’ to rule us – that was a large part of what they objected to in their day. They wanted people to be anxious to get back to their real jobs, not sit on little thrones and plot how to keep their power.

      3) Maintain a military, and protect our borders. Be involved in the world, but hit hard and get out. (Please don’t reply to this with the standard anti-war stuff – it really isn’t adding anything new to the discussion).

      4) Start drilling. Here. Now. We’re hooked on oil, and that will not change overnight. Let’s at least use domestic sources as much as possible so that we’re not competing with India and China for the limited amount of oil controlled by the Saudis. Encourage development of sustainable energy sources, and make sure there is competition because that is what keeps prices down.

      I’ve got about twenty other items on my list. I can write out the details if you are really interested in discussing them; but I suspect you are more interested in arguing than considering an alternative point of view.

      And what would conservatives be trying to convince souls to do? I must have missed the vast right-wing conspiracy club meeting where we talked all that out. It isn’t as if there is anyone in this election representing us. I’m just trying to add some balance to the discussion.

      It took Carter to produce Reagan. We’ll see what happens over the next four years.

    • hoppleaf says:

      This “balance” was achieved by robbing SS. Good luck when you retire. Thanks Clinton

    • herooo says:

      And get a blow job under his desk, yay!

  4. lowly grunt says:

    “I’ve got about twenty other items on my list. I can write out the details if you are really interested in discussing them; but I suspect you are more interested in arguing than considering an alternative point of view.”

    Pot? Kettle?

    • matchew says:

      GIVE ME A FRIGGIN’ BREAK!!!1!

      Okay, got that out of my system.

      The majority of commenters on this sight seem to lean Progressive. I’m just trying to remind people that there is more than one viewpoint in the world, even if mine is antiquated and irrelevant.

  5. Jamie says:

    Thanks matchew,
    We seem to be in the minority here. DC is broken, plain in simple.
    I’d rather have a gov’t that allows me to make my own living, be less intrusive on my life, let me fail and learn from my mistakes. It’s called personal responsibility, something this country has forgotten. Everyone wants a free handout. NOTHING is free. Like the whole stimulus package. What a load. I got mine, and paid my mortgage. Hear that ..paid MY mortgage. All these people that went out and bough houses they couldn’t afford, should be allowed to fall flat. I’m sure there was a few dishonest brokers out there, but come on people….learn math. You can count right?
    Enjoy your freedom while it lasts. We’re slowly turning socialist. And I’ll be damned if I life in a country that tells me what I can and can’t do with my life, takes my money, tells me what car to drive, what to eat……..Washington….leave me the hell alone.
    The end.

    • fillerbunny says:

      Just imagine, for a moment, if we’d had a president who took what we’ve spent in Iraq so far and created programs to fund alternative fuel research and construction projects, implement a national health care system that would leave no one without treatment, fix and improve our public educational system at all levels (without taking away people’s ability to use a privatized system if they so chose), and improve and strength our National security structures (Police, Firemen, Paramedics, Coast Guard).

      The problem, to me, seems like a lot of people spend a lot of money to make sure the structures stay in place for them to screw others over for profit and power. Isn’t that kind of what you mean by smaller government and more individual freedom?

      • matchew says:

        So we can’t afford the war in Iraq, but we should have spent the money on social programs? Do you see the inconsistency there? Either we had the money or we didn’t – I’m going with “didn’t”.

        Since there seems to be some confusion about what conservatives believe, I’ll say this conservative believes we shouldn’t have gone (but we’re there and we have to deal with that reality), and that the money should have been left in the pockets of those who earned it.

        Those would be the working poor that are of such great concern to most of us, and the business owners who hire them and provide them benefits. The more the government taketh away, the less those business owners have to hire employees and give them reasonable benefits.

        And yes, if the few and powerful would recognize they are there by the people’s choice and not by divine right, and if they knew that they could not vote themselves enduring power due to term limits, I think we’d all be less frustrated with the institutions of government.

        filler – it almost sounds like we’re agreeing on something…wacky world, huh?

        • fillerbunny says:

          almost…. that’s kinda scary.

        • fillerbunny says:

          The biggest problem, though, is all the companies/businesses who are taking advantage of technology/infrastructure developed and/or built by the people (“government”) and trying to turn it into pure profit without paying more than a marginal, unfair usage fee for those developments (known as “taxes”).

  6. HylasBrook says:

    Hey Jamie – the Dems have only controled congress for 1 1/2 years. They only have a 1 vote majority in the Senate. Congress was Republican controlled from 1994-2006. Put the blame where it belongs.

    Not on the Democrats.

  7. Jamie says:

    I stand corrected then. Still, it seems after 2000 or so, Washington lost it’s mind and went apesh** with the spending, bills that limit the economy, and all the global warming crap.

    • fillerbunny says:

      If you go back to Reagan and Bush the Elder, you’ll see the same thing happened… Just no major, prolonged war.

  8. Jamie says:

    Besides, I’m more libertarian than republican. I can’t stand either party.

  9. Crystal says:

    Sorry death tax? I was told there are 2 things certain and life, death and taxes..how can they get you when your dead?

    We have inheritance tax, that only really gets people who horded thier money away for most of thier lives, and I really dont care about that. I figure you are not intitled to anything in this life, and when you die who really gives a rat’s arse if the goverment gets it’s percent if your loaded anyway.

    Death tax? What’s that? Is that on the burial or shipping or something? If so if I die in the US on a trip, then my family can put me in a bin bag and sling me over someones fence.

    On a side note, I just have to say I know McCain did a lot for New York as I went there before and after – and New York feels a lot safer these days, but don’t you think him and his wife look like pit bull terriers? I mean if you are rich and powerful and can choose anyone would you choose her for looks? Every picture I see of her she resembles cruella d’ville, and he looks like he needs a really good poo.

    Socialism…well do you mean democratic socialism (like as the Labour party – the one who rules the UK) or national socialism (Nazism)? There are loads of different socialisms…don’t worry about isms just about what politians are actually doing. I really, really doubt the US will ever turn into a country like Cambodia, China, USSR, Cuba etc…can you see that? Be serious. And being told what to do, what to believe – we get told that by our own governments anyway – least we do have the freedom to not accept it and not be found shot in some woods somewhere.

    I agree though, if you bought a house that you couldnt really afford because you wanted to “keep up with the Joneses” and now you can’t afford to keep the repayments up, then tough luck. You should have bought within your means when you bought that house. You should have thought about possible situations that could happen. That’s why they don’t sell houses to children, because adults should realise that money is borrowed from someone else and situations can change. I could have bought a house for £125,000 and a 110%as the bank was willing to lend it to me, but at the time i was on a lower wage and I wanted to be able to go out and eat and live too. The banks shouldn’t have even offered me that, but then I can’t blame them because I should have enough sense to think about thinks like that before making such a big commitment. In the end I went for a 90% morgage at £105,000 – got a better job, but my partner has been told he will be “at risk” for being made reduntant, thing is if we survive on the 1 wage we will be fine as we thought ahead.

    China has very little oil resources of it’s own, or at least the ability to process it. I heard this argument somewhere :) – its developing very fast though and is one of the biggest countries in the World so if its there it will harness that resource in time as its not as rich as the US yet. However China uses more energy and pollutes more than the US! Check out a night view of the World and youll see how it’s lit up. It needs the power as its the biggest manufacturer of well…everything it seems like. In the past we thought of Children’s toys and yes they still produce them, but you pick up anything and it will say “made in China”, the clothes you wear are so cheap because they make them, the items we use are made by them, if we are not making it ourselves they we are letting money flow out of our country which they are taking. That’s one of the reasons China was so friendly towards countries like the USSR and didnt cut itself off completely in the past as they needed thier oil resources; so it may be about oil but also about trade goods. Scary thought…China may be more powerful than the US someday.

    • matchew says:

      Death tax = inheritance tax

      Is it wrong for me to want to give my kids a leg up towards their retirement years? What you call hording, I call careful financial planning. Look at the Kennedy family in America. JFK, Bobby, and Teddy have never held employment that should have been terribly lucrative, yet the family owns ‘compounds’ in Martha’s Vineyard and Florida (probably more, but those are the two that come to mind).

      They have those because the grandfathers of that generation worked hard and passed a small fortune on to their father. He turned that into a large fortune. Had the inheritance tax rates been near where they are today, I dare say the Kennedy brothers would have been born to much more modest surroundings.

      I don’t begrudge them for what their forbears earned – that is how most people used to accomplish “the American Dream.”

      Now we do that through day trading. And selling baseball cards.

    • Iris says:

      @Crystal: An inheritance tax is not a tax on people who “hoard.” The money is taxed as income when it is initially received, and then taxed again when it is inherited. It is money taxed twice.

      And, by the way, it is levied not just against any sum of money passed on, but also on property, both real (land, buildings, fixtures) AND personal (everything else), and even some things disposed of up to 3 years before the death. So it isn’t just those who “hoard.”

      Oh, and? Some states also have an estate tax. Which means that once the Federal government has taxed it a second time, the states go at it for a third taxation.

      I realize that you are in the UK, but I thought you ought to know something about what you were debating.

      We now conclude this session of Ask A CPA. *dismounts high horse.”

      • michael says:

        Just one thing we are taxed on the dollar we earn we are taxed on the dollar we spend and we are also taxed on the dollar we save. The working poor will and always will care the load no mater what party is in office. Now once again we will have to step up to the plate and bail out the poor and the rich for making bad investments. The housing bubble has burst and has become stuck on the bottom of the working peoples shoes like a wad of bubble gum.

  10. Spooky says:

    wow… i really enjoyed reading all of that… but I thought we were supposed to comment on the picture? My opinion: It would have been a bit more amusing if the $ hadn’t been in the caption… otherwise I think it reads “We owe China 350 Billion Dollars of these things?!?!”… phew! I really needed to get that off my chest… :)

  11. xrazorwirex says:

    Its more around the tune of $5-6 TRILLION, but you got the picture.

    And its both parties to blame, regardless of what the smugites think – democrats do nothing more about our debt, our instable money, or respecting the constitution than republicrats do. Demorcrats create more unconstitutional government through taxation THEN inflation, republicrats do the same thing just inflate x2 and pretend like they somehow “lowered” taxes.

    ps. i enjoyed the snarky comments from the socialists in the room; you might want to buy a patch – your elitism is leaking all over the place.

  12. Joe says:

    blame honda

  13. Gtherocker says:

    I blame bush for this

  14. English says:

    You said “We owe China 350 billion dollars of these dollars?”

  15. logic says:

    yes, we owe China lots of money, and Obama spent well over a trillion dollars within in his first few months here, both presidents screwed up but at least Bush didn’t double the deficit within the first year.

  16. Sammy says:

    Anyone notice it’s actually 56 trillion one Dollar Bills, not 350 Million?


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