Am I the only one worried about the dept ceiling and the fact that our government is litterly falling apart? Does anybody understand the US stock market will most likely crash (again) and people will lose even more of their stock market retirement savings if this happens? Or our money won't be worth the paper its printed on? Or the rest of the World market for that matter? The government will most likely raise it thus causing a 125 BILLION dollar shortfall every MONTH to be met when we don't have the money to begin with? I wish allot of people that were not able to pay there bills could just borrow more money, Oh wait they did in the last financial crisis that were STILL IN! It was called home equity loans and morgtages peeps couldn't afford. So what happened? Banks defaulted on themselves! Who picked up the tab you say? TAXPAYERS! Who bailed them all out? GOVERNMENT VIA the taxpayers right? Nice socialist US government we live in. We passed the buck to our own government and VOLA! Guess who's turn it is to fail? The supposed last line of defense? Our government. Our system was set up not to take over the private sector and be a socialist deal but it is and now its going to fail just like Russia did. The more government controls the more you have one entity that can fail bringing it all to a halt public and private. Nice communist system we setup over the years right under our noses. Social security, wellfare, medicaid/medicare, government student loans, food stamps, goverment run stimulus plans ect ect ect ect. I do blame American greed as well, thanks to all the UN-American company's that sent the jobs overseas to make a bigger profit margin to try and compete with China's cheap labor. Ok I'm done.
I think you have a very good grasp on what is going to happen, the only problem is you think the US will default[Not going to happen] we take in far more than needed to pay the bills, it's just how we spend it. And you think the default will cause the crash,but it's going to happen anyway unless drastic action is taken now.
For the life of me I do not know why the democrats do not want a balanced budget in 6-8 years? They won't even go for 12-15 year balanced plan! They want to cry about the freebies being taken away but by going the way we are going once we literally can't keep up with the payments even through taxation what then? On top of it all I have no idea how morally any prez can give billions to other countries when we need it here. That would be like writing an IOU to my trucks finance company and going to the good wil and donating 350 bucks!
Am I the only one worried about the dept ceiling and the fact that our government is litterly falling apart? Does anybody understand the US stock market will most likely crash (again) and people will lose even more of their stock market retirement savings if this happens? Or our money won't be worth the paper its printed on? Or the rest of the World market for that matter? THe stock market is not likely to crash. We ARE, however, in danger of losing every gain we've had over the last few years since this recession began. Projections are for a 900-point selloff, putting us right back where we were in 2008 before the market began to recover. If the money's not worth the paper it's printed on, thank the democrats who are STILL printing paper money.....
The government will most likely raise it thus causing a 125 BILLION dollar shortfall every MONTH to be met when we don't have the money to begin with? I wish allot of people that were not able to pay there bills could just borrow more money, Oh wait they did in the last financial crisis that were STILL IN! It was called home equity loans and morgtages peeps couldn't afford. thank Bill Clinton for the issuance of those mortgages to people who could not afford to pay them back. Blame Barney Frank and Chris Dodd, the democrat overseers of Fnma and Fhlmc, the 2 government entities that became insolvent as a result of democrat policies. BUT you are correct in the raising of the debt ceiling....it just plunges us deeper into debt, but it allows us to pay our bills and the default we are trying to stave off. NOBODY's trying to pay off the debt, just minimize the amount of NEW debt.
So what happened? Banks defaulted on themselves! Who picked up the tab you say? TAXPAYERS! Who bailed them all out? GOVERNMENT VIA the taxpayers right? Nice socialist US government we live in. We passed the buck to our own government and VOLA! Guess who's turn it is to fail? The supposed last line of defense? Our government. hey...you vote democrat, that's what you get. Thank Nancy, and Harry.
Our system was set up not to take over the private sector and be a socialist deal but it is and now its going to fail just like Russia did. where are you getting your information from ? Even if they do not raise the debt ceiling, we have a 66billion dollar surplus after our 'must-do' payments are done. That's 66 BILLION dollars in discretionary spending. IF you voted for HOPE AND CHANGE, well, then you got what you asked for. What's the complaint ?
The more government controls the more you have one entity that can fail bringing it all to a halt public and private. Nice communist system we setup over the years right under our noses. Social security, wellfare, medicaid/medicare, government student loans, food stamps, goverment run stimulus plans ect ect ect ect. I do blame American greed as well, thanks to all the UN-American company's that sent the jobs overseas to make a bigger profit margin to try and compete with China's cheap labor. Ok I'm done.
The 'single point of failure' I tend to agree with....but it's not communist, it's socialist. Start with the first modern progressive, Woodrow WIlson and then jump to FDR. From then on, every boondoggle you mention is a democrat scheme, I believe. You are wrong about UN-American job exports...blame unions, a shrinking world market for US goods requiring adjustments to operating costs. If you're referring to NAFTA, thank Bill Clinton for signing it into law, by the way....and please explain why, if we live in a CAPITALIST country, why we would not make use of cheap labor, be it domestic or foreign ? My point is that in MOST cases, U.S.-made goods are more expensive....AND THEY ARE BETTER but nobody looks at anything other than cost. The world is going to a 'global economy' and many of the job losses you see are that adjustment. JUst as the blacksmith needed to find a new line of work, nobody condemns Henry Ford for making cars.....
I remember when a dude had a plan 10yrs ago to make the US economy crash...I thought he was just a silly bearded man with an ak47
Ummm.... I'm not exactly sure what your inferring here? Are you saying that our current financial situation is a result of 9/11/01???
If so, re-read the above post, although it's much more complicated than Begall's post illustrates, his post is a fair start to understanding the issues we're facing. Also note that 9/11/01 was not mentioned in his post. This snowball started rolling downhill long before that!!!
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Those who hammer their guns into plows, will plow for those who don't~ Thomas Jefferson~ Today's mighty oak is just yesterday's nut that held it's ground~Unknown~Just because your offended doesn't mean your right~Unknown.
actually, there was an economic slump immediately following 9/11/01....dunno if it was nationwide or just in NYC....Bush was credited with getting us out of it altho' I don't know how.....
9/11 was just an isolated, unrelated scenario that played out while we were on the road to hell in a handbasket... Certainly it helped, but the democrat penchant for spending like a drunken idiot over the last 3 years certainly had a MAJOR impact....we realized 2/3 of the national debt from the time of George Washington to the 2008 inauguration. That's over 200 years. Then, in JUST THREE YEARS, we upped the debt by fully 1/3.
Holy crap that should be a hanging offense....
Your right, we've had this coming for a long time but we could of made it a few more years without this debt crisis issue if we weren't in a war. Plenty of people saw this coming and nothing was done. Its not a right or left issue and its not an obama issue...it takes 2. I believe everything happens for a reason in politics but it will be decades before the masses (civilians) see the big picture.
We're in for a loooong bumpy ride and as usual the hardships of the world can be blamed on one thing...$$$$$$$$$$$$$
The elephant in the room is entitlements. Entitlements mean social security, medicare, and medicaid. The problem is that these are programs that were enterred upon as pyramid schemes: a relatively small number of people receive benefits from a relatively large number of people. When SS was introduced in 1936 and when Medicare/Medicaid were developed as part of LBJs "Great Society" in the mid-1960s, maybe the numbers worked. They do not work when people live to be 88 years old. When SS was introduced, I believe the average life expectancy was less than the minimum SS retirement age. With reference to Medicare/Medicaid, part of that problem has been the massive increase in medical procedures. When the diagnosis involves a doctor pushing down your tongue with a cheap wooden pop-sickle stick, telling you to say "ah," and tells you to take 2 asperin and get a good nights sleep, this was an affordable program. When everyone can name someone they know personally who has had open heart surgery -- a bypass operation -- and MRIs, and CAT scans the numbers no longer work.
Sure, defense is expensive. Sure, you can argue whether we should or should not be involved in foreign adventures. I for one feel we should not or at least that we should be much more circumspect in engaging in these things than we have been historically. But notwithstanding, defense is not the lion's share of our spending problem. Our spending on social security, Medicare, and Medicaid are exponentially increasing costs. Our defense spending may be linearly increasing costs. Defense spending probably does not grow faster than the gross domestic product. The entitlement spending DOES grow faster than the gross domestic product.
What is the answer? I don't know. Most people feel poor old Aunt Tillie should be cared for and not told "Sorry, baby! Your expiration sticker is out of date!" Can Aunt Tillie pay for her own medical care, at the age of 85? Probably not. What is the answer? I think it is possible that the state-of-the-art of medicine has advanced to a point where we can no longer afford to deliver all the procedures to all the people. In fact, what I fear is that to do this means taking money away from other things as well. For example, I would like to think that my kids would spend their money sending their kids to college rather than paying for expensive procedures to keep me alive when I'm 80 years of age . . . or 90 years of age . . . or 100 years of age. We have never had to make this kind of analysis, but that time is coming. Rationing? That is one way to view it. Another way is prioritization. Rather than spending $160,000 on 95 year old Aunt Tillie with a dubious quality of life and limited prospects with or without the procedure, I'm going to send two kids to college and that is a better allocation of limited resources. Harsh. I agree. But life is a harsh thing.
Yep life is harsh - let the kids get a job to go to collage & have there parent s uncles auntys pay for them. Aunt tilly could live to 100 easy or more with a good quality of life( if she payed into the system she sould get something) 16k or less a yr( if there are other conditions ,variables involved that may limt things further that can be taken into acount also). with limited resources ( they always are) cut off all heath care to non citizens & overseas the US spent now.
Those are my conditions & ideas ( just a start) before i myself take a dime away from poor ol aunty tillie.
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Tomorrow hopes we have learned something from yesterday.
"Shouldn't someone tag Mr. Kennedy's 'bold new imaginative program' with its proper age?" "Under the tousled boyish haircut it is still old Karl Marx—first launched a century ago.
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Am I the only one worried
