Is the U.S. Insolvent

[Ocean Breeze]

So the word "sacrifice" is academic at best.:-(

 

[JLM]

So the word "sacrifice" is academic at best.:-(

Or maybe just means foregoing the third helping of ice cream! :lol:

 

[Cliffy]

The thought of a referendum did cross my mind, but right away I came to the conclusion that the voters are not going to be for anything that is going to "hurt".

If they don't it could hurt a lot more in the long run.

 

[EagleSmack]

Now who wants to debate the title of the thread.....is the U.S. Insolvent. I started this post in Jan 2007....now what do you think. Where is Toro and the rest of the nay sayers now.

See you (and this thread) in another few years? Better luck next time eh?

Would you like a tissue?

 

[petros]

It's still going to be a rough ride if you have to borrow 2.4 Trillion to keep the country going.

 

[EagleSmack]

It's still going to be a rough ride if you have to borrow 2.4 Trillion to keep the country going.

It has been a rough ride already.

And now we are actually going to start cutting... so they say. We have to start somewhere Petros. For once we didn't simply raise the debt ceiling.

 

[SLM]

It has been a rough ride already.

And now we are actually going to start cutting... so they say. We have to start somewhere Petros. For once we didn't simply raise the debt ceiling.

And that is a good thing, because that's just robbing from Peter to pay Paul as the saying goes.

 

[petros]

Petros ain't going to let that happen. Screw Paul and horse he rode in on.

It has been a rough ride already.

And now we are actually going to start cutting... so they say. We have to start somewhere Petros. For once we didn't simply raise the debt ceiling.

What can be cut?

 

[EagleSmack]

What can be cut?

Where do you want to start! Our government is BLOATED! Subsidies, Department Budgets, Defense, Earmarks, Pork, etc. There is SO MUCH we can cut.

 

[petros]

Why did it take so long to get the desire or realization that it is time to start cutting?

 

[SLM]

Where do you want to start! Our government is BLOATED! Subsidies, Department Budgets, Defense, Earmarks, Pork, etc. There is SO MUCH we can cut.

Personally, I've always felt that the biggest problem with government was all the damn politicians.

Or am I aiming too high?

Petros ain't going to let that happen. Screw Paul and horse he rode in on.


What can be cut?

That's the spirit!

 

[EagleSmack]

Why did it take so long to get the desire or realization that it is time to start cutting?

I wonder myself. Both Bush and the Obama Administrations went haywire with spending and for years the Congress for the most part went along with it.

Personally, I've always felt that the biggest problem with government was all the damn politicians.

Or am I aiming too high?

Well I think their benefits and pay should be cut! As soon as they get elected they have a built in Golden Parachute even if they only serve one term. That's BS!

 

[Tonington]

Some food for thought from the Globe and Mail

 

[petros]

I wonder myself. Both Bush and the Obama Administrations went haywire with spending and for years the Congress for the most part went along with it.

If Congress is a representation of the people why did the people let it happen?

Some food for thought from the Globe and Mail

That is just the Federal rate. Add state taxes, county/city property taxes and user fees etc and the picture changes.

 

[JLM]

Petros ain't going to let that happen. Screw Paul and horse he rode in on.


What can be cut?

All services not essential to life for one year.

 

[Tonington]

If Congress is a representation of the people why did the people let it happen?

That is just the Federal rate. Add state taxes, county/city property taxes and user fees etc and the picture changes.

Total tax burden as a share of GDP....

 

[petros]

All services not essential to life for one year.

Which include?

Total tax burden as a share of GDP....

Roger that....

 

[JLM]

Which include?

....

A couple of things I can think of......food for the starving, ambulance service, surgery where life is at risk.

 

[petros]

Police, fire, meatwagons and charity hopspitals have only been doing priority calls for a few years now in several regions and cities.

Back in May 2011, 40 Million were on food stamps already too. Considering unemployment rate is still climbing so I assume that Food Stamp reliance has risen by now too.

BTW I hope you consider toilet paper as an essential.

About 1 in 7 in U.S. Receive Food Stamps - Real Time Economics - WSJ

 

[WLDB]

If the poor or unemployed end up having to take the majority of the pain on this they may go a little crazy. 10% is a lot of people for down there, that's more than the population of Canada.