Deficit Commission's Proposal D.O.A., But Make Congress Vote On It Anyway, Pento Says

Maybe it's about time that people started to take care of their own. Instead of Grandma in the street she will have to come live with relatives.....as in the past.
Maybe people will have to start spending only what they earn, and not living off of credit.
Economic pain will have to occur to correct all the imbalances of the past. There is not other way out. Prepare now, because the government can't bail everyone out. They are only prolonging the 'day of reconing'.
Taking 'other peoples money' to solve your spending problem will definitely NOT solve the problems we face. Learn to look after yourself.

See how they LIE to you? They sell you the TITANIC and call it QE2! If you beLIEve it, You should be on the TITANIC! Nice how they wait till AFTER the election to finish DESTROYING your life! CORRUPT, GREEDY dirtbags in Washington and Wall St. need to face the wrath of the angry masses... in the way of the street!

There is way too much waste in every department of government spending. Let's cut the wasteful stuff and still help take care of the elderly and poor. Personally, I think congress needs to take a pay cut just like the rest of America has. They should be willing to live like the rest.

No pain, all gain "solutions" are simply not realistic. Continuing budget deficits of this magnitude are not realistic either. The only reason many people are getting the benefits they are is precisely because the government overspent to make and keep these promises. Almost everyone wants the government to stop spending so much--almost no one wants the government to cut "their" sacred program. Can't have it both ways. The guy below who said we need a very progressive income tax...two things:1). We already have that and 2). Higher taxes discourage people from working. Europe has a much higher natural rate of unemployment than we do because they pay far higher tax rates and have unemployment benefits that last for years. But hey, they get everything for "free" from their benevolent governments, right?!

ALLWAYS BIG FISH EAT LITTLE FISH. THATS THE LAW OF NATURE. OK NOTHING NEW.
2 PERCENT OF AMERICANS MADE THEIR AMERICAN DREAM , NOW ONLY 98 PERCENT HAVE TO WORK FOR IT TOO. THATS THE AMERICAN WAY ALSO.
THE PROBLEM IS SIMPLE, THE 2 PERCENT CONTROL EVERYTHING. EXAMPLE : CONGRESS, FED GOVERNMENT, BANKS THEY OWN.
SO CONCLUSION ; '' THE GOLDEN RULE OF AMERICA''

THE ONES WHICH OWNS THE '' GOLD '' IS THE ONE WHO PUTS THE RULES, OK SIMPLE.
2 PERCENT HAVE APROX. 58 TRILLION DOLLARS
98 PERCENT HAVE APROX. 0 DOLLARS.
SO SIT AND WAIT TO SEE WHATS NEXT. AND THE 98 PERCENT OF AMERICANS CAN NOT DO ANYTHING ABOUT ANYTHING. JUST TALK, WORK, PAY DEBT, AND WAIT UNTILL 2012 FOR THE NEXT 1/2 OF THE 2 PERCENT LUCKY AMERICANS TO COME IN AND REPEAT THE SAME STORY.
THATS THE AMERICAN WAY, AND THE AMERICAN DREAM TOO. S I M PLE .
GOD BLESS AMERICAN AND THE AMERICAN DREAM TOO.
NOW SIT AND DESIDE ON WHICH SIDE OF THE DREAM YOU LIVE AT. OK
GOOD LUCK, AND KEEP DREAMING.
PRAY FOR A BETTER AMERICA IN 2012 AND DO NOT LOOSE HOPE , N E V ER ..

by the way , I AM IN THE 98 PERCENT GROUP TOO. OK. NOT NICE .
THANK YOU.

Cut the space program until we can afford it down the road. I worked in it for 20 years. It's wasting tax payer money. Fraud/waste and abuse is the norm. Kill the program. Cut back on the military and foreign aid, axe the FED,CIA, IRS, Postal Service, and cut congress and the Senate in half along with their benefits. Put the money into educating people. Put the money into a government alternative energy work force. Build geothermal, solar,hydro,wind plants all across the country and we will be the energy leaders of the world. Everyone can live well but the greedy bunch that have control now needs to rethink things before it's to late.

to balance the budget would require massive spending cuts and tax increases. say hello to 50% unemployment.

hahahah wow Pento is speaking the same nonsense any financial "expert" is saying because it is only beneficial to them. His first words are " Well I agree except with closing those tax loopholes" Are you serious? So let the loopholes continue so that the top 1% of the income bracket continue to avoid paying the taxes they need to and then reap the benefits and rape the country of its natural resources.

WHERE ARE THE SPENDING CUTS?? THIS IS JUST MAKING US PAY MORE UNDER THE PRETENSE OF REDUCING DEFICIT!!! THERE ARE NO CUTS IN GOVERNMENT JOBS, SALARIES, TRAVEL, ETC. GOD THE POSTAL SERVICE JUST LOST 8 BILLION LAST YEAR-HOW ABOUT SELLING THIS TO THE PRIVATE SECTOR OR CLOSING IT-I CAN DO WITH OUT JUNK MAIL. Again this is not reducing government spending, it is just taking more from us. They want us to work until you die and then these F*&%$2#'s don't have to pay you social security-DOES REVOLT SOUND IN ORDER???????

Raise capital gains tax to 30%. Now lets listen to the hedge fund managers whine with their rhetorical spin.