Bankrupting America - Who's More Responsible: Charlie Sheen Or Washington?

Video from Bankrupting America; text below is from their youtube page.

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At first thought, Charlies Sheen hardly seems like a model for fiscal responsibility. But, unfortunately, Washington is far worse. Washington's habit of spending far more than it takes in has driven the country into debt. And our economic situation is projected to only get worse.

The solution is clear, but not easy: spending cuts.

History shows that reducing government spending leads to sustained economic growth. And that's something (even Charlie Sheen) can get behind.

Source List:

"Last year, Charlie made $30 million."
Source: http://jobs.aol.com/articles/2011/03/14/what-people-earn-celebrity-salaries-r...

"Last year, Washington brought in 2.3 trillion dollars in taxes."
Source: http://www.washingtonpost.com/blogs/federal-eye/post/wheres_your_tax_refund/2...

"It took over 200 years, and every President from George Washington through Bill Clinton, to rack up a gross debt of 6 trillion dollars."
Source: http://www.whitehouse.gov/omb/budget/Historicals

"In the last 10 years, we have more than doubled it.
"
Source: http://www.whitehouse.gov/omb/budget/Historicals

"And at $14 trillion in 2011, it looks like we'll only need another ten...to nearly double it again."
Source: http://www.whitehouse.gov/sites/default/files/omb/budget/fy2012/assets/tables...

"14 trillion is more than 130,000 dollars per US household."
Source: http://www.whitehouse.gov/sites/default/files/omb/budget/fy2011/assets/tables...

Projections on interest on the debt:
Source: http://www.whitehouse.gov/sites/default/files/omb/budget/fy2011/assets/tables...

"After World War II, the US government cut spending from 44 percent of the economy, to a mere 11 percent. What followed was one of the largest economic booms in US history."
Source: http://www.whitehouse.gov/omb/budget/Historicals

Comments

[Cheyenne]

Sheen knows what he's doing and thus continues making money. His predecessor's name, for those who are paying attention to what counts, is Jimmy Page.

Washington, Wall Street doesn't know what it's doing, and thus continues to lose money. And bill you and me for the losses.

If you spent even a second today pissed off at Charlie Sheen, you wasted part of your life.

[Something Polish]

Off topic, but The Maestro now apparently believes that financial markets do not need to be regulated. No, really:

"Today’s competitive markets, whether we seek to recognise it or not, are driven by an international version of Adam Smith’s “invisible hand” that is unredeemably opaque. With notably rare exceptions (2008, for example), the global “invisible hand” has created relatively stable exchange rates, interest rates, prices, and wage rates."

Excellent discussion of this unintentionally awesome statement here:

http://crookedtimber.org/2011/03/30/with-notably-rare-exceptions/

[Cheyenne]

If I'm reading that correctly, Polish, Bernanke's saying it's prudent to take out a no-black-swan-ever insurance policy and start selling it to prop up our economy.

Is that fair?

[Something Polish]

Cheyenne:

"The Maestro" does not refer to The Ber-Nank, but to Mr. Andrea Mitchell.

He's essentially saying that if it hadn't been for that pesky iceberg, that the Titanic would have been invincible. Framed in his language, "With notably rare exceptions, the Titanic was unsinkable."

Do yourself a favor and check out the comments at Crooked Timber. Good times.

[Cheyenne]

Will do, Polish. Thanks.

[Cheyenne]

Jesus, Polish, you weren't kidding around.

“With notably rare exceptions, Russian Roulette is a fun, safe game for all the family to play,” and “With notably rare exceptions, (the Third Punic War for example), the Carthaginian war machine was extremely successful,” but none do proper justice to the magnificence of the original."

Thanks again.

[DailyBail]

it's a great link polish...i am working it into a story on greenspan for later....

[Cheyenne]

" I don’t think it’s going to shatter America,"

--Jamie Dimon on the imminent municipal bond market crash on whose imminence JPM has already profited heavily.

[DailyBail]

http://www.bloomberg.com/news/2011-03-30/dimon-says-hundreds-of-municipalities-in-u-s-won-t-make-it-out-of-debt.html

there's the link cheyenne...

[Cheyenne]

Gee, Wally, thanks. I'll just catch on the six o'clock news.

Or not.

[DailyBail]

probably not...

and you won't see this on nbc....

http://news.yahoo.com/s/yblog_thecutline/20110330/bs_yblog_thecutline/nightly-news-stays-mum-on-ges-0-tax-bill

[Cheyenne]

Strangely, Dylan Ratigan of MSNBC did a segment on trucker travails and fuel costs without mentioning GE's 0% income tax bracket. I am non-plussed. Truckers pay a lot in taxes--it's choking them (and us) to death--and GE does not.

[Davol]

Let's face it. America gets what it deserves. The idiot, upperclass moronic meglomaniac pipe-dreamers who run the show were elected by US, and if you don't vote then it's your apathy that they have thrived on, so just deserts America. That's how this has been working since the way-overrated Ronald Reagan started the destroy America party.

[Inurface]

At least Charlie pays his prostitutes, WE, the people just take it up the YES for free, then WE get a bill in the mail. I think it's called role reversal.

Thank You United States Government.

[Yu Augri]

Duh, winning!

[Howard T. Lewis III]

That's right, Davol. Huge tax breaks for the rich to get reelected. Tax breaks to export businesses to get reelected. Legallizing "uninspectable" off-shore banking to get reelected. Voting with the Fed and facilitating overseas hedgefunds to get reelected. Allowing computerized, rampant vote fraud to get reelected, supporting lies in the corporate media to get reelected, legalizing news lies to get reelected, bailing out Nancy Pelosi's 12 million dollar investment in AIG to get reelected, setting up the owners of the oil companies, Standard oil and BP by murdering millions in the middle east to get reelected, letting BP fuck the Gulf of Mexico to death to get reelected, Absolving GE of any tax burdens for 2 years and letting them fuck the whole world to death in one big orgy of satanic self-indulgence to get reelected. And lastly, doing all of the above together to suck up to these mewling little suckers to get elected in the first place.
Now, they have decided that it is poor people's fault and they have the middle class thoroughly brain washed to accept the image of the pope raping their 10 year old sons as the queen of England steals their homes. Television and the movies help by producing the image of their dead grandmothers climbing up their legs with a knife clenched in her teeth. And they voted to end the government because they rule and the opportunity presents itself. What our military should do just before new elections rhymes with 'sputum'. Congress has no right to close down government. They DO, however have the right to resign or back up against a wall to be shot. Its in the fine print of the Constitution.

[TaterSalad]

Mr. Obama, you are the owner of GM, yet your support Unions. Why is this happening?

UAW members are now picketing the Chevy Volt plant in Detroit while GM still owes the government and taxpayers for the bail-out. Greed at its finest!

http://www.thedetroitbureau.com/2011/04/workers-picket-chevy-volt-plant/

[Broom Hilda]

TaterSalad,


Read the article you linked. It's not about getting paid more money; it's about getting layed off without severance.

[profnasty]

Good! Cut spending. But not my unemployment checks, or my food stamps. You toucha doze, I smasha you face! I cannot compete against half/priced/assed Mexicans and $10/day Chinamen. Can't do it. Sorry. I'm a loser baby, so why don't you kill me.

[theo]

We need a Constitutional Amendment REQUIRING mental health screening, drug testing, NO private pensions/only Social Security, 50% payment of health insurance premiums and the lifting of 'CONgressional immunity' for crimes and perhaps THE most controversial pay for performance. HA!HA!HA! This would immediately eliminate at least 20% of the 'elected' and as for performance since no matter what they seem to do they vote against the will of the people to save their sorry asses (and donors) then Blame we the people for their follies lets pay them in delinquent mortgages/fraudulent CDO/CDS.
It is a good comparison- Charley and his drugs and the whores in CONgress/Gubmint getting their drugs (loans) from their delaer the FED. Only Charley had the sense to wake up and NOT blame it on others.