» News

232 Business Leaders Urge Obama, Congress to Reform Entitlements

Home - by - November 20, 2012 - 11:00 America/New_York - 11 Comments

The Foundry

A letter from 232 multi-industry organizations, in conjunction with the U.S. Chamber of Commerce, is calling on President Obama and Congress to restructure the nation’s entitlement programs and put them on a path toward financial sustainability.

These organizations recognize that the country’s rising debt poses grave economic risks. In the letter, they cite that near the end of 2008, debt held by the public was around 40 percent of gross domestic product (GDP); this is close to the historical average of about 37 percent of GDP. According to the Congressional Budget Office, though, debt held by the public in 2012 had risen to 73 percent of GDP. The future looks worse still, as debt is projected to skyrocket to over 100 percent of GDP in less than 10 years.




  1. old_oaks

    November 20th, 2012

    Who are these business leaders?

    Are they not aware that debt/GDP is ALREADY over 1.0???


    Thumb up 0

  2. Rick

    November 20th, 2012

    Get your fucking feet off my furniture, asswipe!!

    Thumb up +6

  3. Dr. Tar

    November 20th, 2012

    Kudos to these brave souls for trying to tell the emperor he’s parading around in the buff.

    Thumb up +2

  4. Ricky

    November 20th, 2012

    I just heard that sometime this year, we taxpayers will again receive
    another ‘Economic Stimulus’ payment.
    This is indeed a very exciting program, and I’ll explain it by using a Q & A format:

    Q. What is an ‘Economic Stimulus’ payment ?
    A. It is money that the federal government will send to taxpayers.

    Q.. Where will the government get this money ?
    A. From taxpayers.

    Q. So the government is giving me back my own money?
    A. Only a smidgen of it.

    Q. What is the purpose of this payment ?
    A. The plan is for you to use the money to purchase a high-definition TV set, thus stimulating the economy.

    Q. But isn’t that stimulating the economy of China ?
    A. Shut up.

    Below is some helpful advice on how to best help the U.S. Economy byspending your stimulus check wisely:

    * If you spend the stimulus money at Wal-Mart, the money will go to China or Sri Lanka.
    * If you spend it on gasoline, your money will go to the Arabs.
    * If you purchase a computer, it will go to India, Taiwan or China.
    * If you purchase fruit and vegetables, it will go to Mexico, Honduras and Guatemala ..
    * If you buy an efficient car, it will go to Japan or Korea.
    * If you purchase useless stuff, it will go to Taiwan.
    * If you pay your credit cards off, or buy stock, it will go to management bonuses and they will hide it offshore.

    Instead, keep the money in America by:
    1) Spending it at yard sales, or
    2) Going to ball games, or
    3) Spending it on prostitutes, or
    4) Beer or
    5) Tattoos.
    (These are the only American businesses still operating in the U.S. )
    Go to a ball game with a tattooed prostitute that you met at a yard sale and drink beer all day!
    Problem Solved..
    No need to thank me, I’m just glad I could be of help.

    Thumb up +3

  5. Jon

    November 20th, 2012

    Good thinking big businesess. Now stop accepting corporate welfare in the form of tax subsidies, grants, and bailouts…then you can talk about entitlement reform

    Thumb up +1

  6. Billy Fuster

    November 20th, 2012

    They may as well be talking to a brick wall…

    Thumb up 0

  7. Harry Dangle

    November 20th, 2012

    Consider the wise words of 19th century poet Robert Service

    It’s fine to have a blow-out in a fancy restaurant,
    With terrapin and canvas-back and all the wine you want;
    To enjoy the flowers and music, watch the pretty women pass,
    Smoke a choice cigar, and sip the wealthy water in your glass.
    It’s bully in a high-toned joint to eat and drink your fill,
    But it’s quite another matter when you
    Pay the bill.

    It’s great to go out every night on fun or pleasure bent;
    To wear your glad rags always and to never save a cent;
    To drift along regardless, have a good time every trip;
    To hit the high spots sometimes, and to let your chances slip;
    To know you’re acting foolish, yet to go on fooling still,
    Till Nature calls a show-down, and you
    Pay the bill.

    Time has got a little bill — get wise while yet you may,
    For the debit side’s increasing in a most alarming way;
    The things you had no right to do, the things you should have done,
    They’re all put down; it’s up to you to pay for every one.
    So eat, drink and be merry, have a good time if you will,
    But God help you when the time comes, and you
    Foot the bill.

    Thumb up +3


    November 20th, 2012

    Never, ever, ever,ever gonna happen on Obowme’s watch. :mad:

    Those entitlements just got him reelected. :roll:

    Thumb up +4

  9. muddjuice (Absolutist)

    November 20th, 2012

    @ Ricky (aka Beaker)

    Brilliant post. Awesome!

    Thumb up 0

  10. Teacheru

    November 20th, 2012

    They have to consider themselves lucky if he responds. And if he does, he will sound like this:http://youtu.be/CXudI0ibo-k

    Thumb up 0

  11. ? everything

    November 20th, 2012

    imo everything is going according to the plan, & yes I am in total agreement about what CORPORATE WELFARE apparently got them. face it the party is over.

    Thumb up +1