Debt Burden in Advanced Economies Now a Global Threat

Discussion in 'Politics' started by BDBoop, Aug 1, 2011.

  1. BDBoop
    Offline

    BDBoop BANNED

    Joined:
    Jul 20, 2011
    Messages:
    35,385
    Thanks Received:
    4,996
    Trophy Points:
    0
    Location:
    Don't harsh my zen, Jen!
    Ratings:
    +5,006
    Debt Burden in Advanced Economies Now a Global Threat - Brookings Institution

    Sobering.
     
  2. Meister
    Offline

    Meister Platinum Member Supporting Member

    Joined:
    Jan 15, 2009
    Messages:
    25,900
    Thanks Received:
    8,101
    Trophy Points:
    493
    Location:
    Conservative part of the Northwest
    Ratings:
    +8,102
    Just wait until the Moody's downgrade of our credit rating....that little glimmer of light will be snuffed.
     
  3. LibocalypseNow
    Offline

    LibocalypseNow Senior Member

    Joined:
    Jul 30, 2009
    Messages:
    12,337
    Thanks Received:
    1,356
    Trophy Points:
    48
    Ratings:
    +1,357
    How could our Government do nothing? Unbelievable. $2 Trillion in cuts over ten years? Not even a drop in a bucket. Also,these cuts will likely never happen. How many more Wars will they start or how many more spending sprees like Stimulus and Bailouts will happen in this ten years? So don't count on these $2 Trillion in cuts. It just aint gonna happen.
     
  4. Meister
    Offline

    Meister Platinum Member Supporting Member

    Joined:
    Jan 15, 2009
    Messages:
    25,900
    Thanks Received:
    8,101
    Trophy Points:
    493
    Location:
    Conservative part of the Northwest
    Ratings:
    +8,102
    The CBO is also scoring it with the sunset of the Bush tax cuts...which will in fact be a tax increase.
     
    • Thank You! Thank You! x 1
  5. WillowTree
    Online

    WillowTree Diamond Member

    Joined:
    Sep 15, 2008
    Messages:
    68,196
    Thanks Received:
    10,175
    Trophy Points:
    2,030
    Ratings:
    +14,775
    Senator Marco Rubio voted NO NO NO NO and hell NO
     
    • Thank You! Thank You! x 1
  6. LordBrownTrout
    Online

    LordBrownTrout Gold Member

    Joined:
    Nov 25, 2007
    Messages:
    15,525
    Thanks Received:
    2,964
    Trophy Points:
    280
    Location:
    South Texas
    Ratings:
    +6,397
    Yep, it's gonna start getting real ugly....if it weren't bad enough right now.
     
    • Thank You! Thank You! x 1
  7. Meister
    Offline

    Meister Platinum Member Supporting Member

    Joined:
    Jan 15, 2009
    Messages:
    25,900
    Thanks Received:
    8,101
    Trophy Points:
    493
    Location:
    Conservative part of the Northwest
    Ratings:
    +8,102
    This is where the chickens really do come home to roost.

    Perhaps, it's what the US needs to bring us back to reality. It will hurt.....but it will hurt a hell of a lot more if we let this go another 10-15 years.
     
    • Thank You! Thank You! x 1
  8. LordBrownTrout
    Online

    LordBrownTrout Gold Member

    Joined:
    Nov 25, 2007
    Messages:
    15,525
    Thanks Received:
    2,964
    Trophy Points:
    280
    Location:
    South Texas
    Ratings:
    +6,397
    I totally agree.
     
  9. Flopper
    Offline

    Flopper Gold Member

    Joined:
    Mar 23, 2010
    Messages:
    15,258
    Thanks Received:
    2,701
    Trophy Points:
    260
    Location:
    Washington
    Ratings:
    +5,320
    Yes, we could cut spending but we could also stop a couple wars or we could set taxes back to the 2000 rates. Remember 2000? Clinton's presidency was coming to end as was the decade. Employment was 3.9%. The government was in it's third year of running a surplus. The decade was ending with a 97% growth in GDP. The right is always seeking to turn the clock back. I say turn it back to 1990's.

    Set the tax rates to the 1999 level and end the wars and the deficit problem will go away or cut some spending raise taxes and phase out the wars and the deficit problem goes away. Take a balanced approach which 2/3 of the American people want and you fix the problem.

    By doing just spending cuts, it will do nothing to increase jobs and will probably push the country into another recession reducing government revenue and will exasperating the deficit problem. We went down this road in 1937 when FDR tried to balance the budget and we found ourselves in a recession that took a world war to snap us out of.
     
    • Thank You! Thank You! x 1
    Last edited: Aug 1, 2011
  10. Full-Auto
    Offline

    Full-Auto Gold Member

    Joined:
    Jun 13, 2009
    Messages:
    13,555
    Thanks Received:
    1,614
    Trophy Points:
    153
    Ratings:
    +1,615
    We dont need those types of surpluses that add to the national debt, because that is what happened.
     

Share This Page