Debt spending, how would YOU handle it???

Discussion in 'Politics' started by BOBO, Jul 8, 2011.

  1. BOBO
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    BOBO The Magnificent!

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    We're debt spending our children into indentured servitude. The fed reserve note is now nothing more than worthless inflated IOU script. Industry has moved abroad & along with it our tax revenue to sustain the USA. Inflation tax due to the fed notes being printed by the bazillions has made purchasing power a thing of the past. What course of action would you recommend to get debt spending out of the vocabulary???
     
  2. 8537
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    8537 Senior Member

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    If that worthless IOU scrip is weighing you down, I'll be happy to take it off your hands. Just PM me for contact info.

    As for what I'd recommend: I'd recommend we remove most of the Bush-era tax cuts, increase or abolish the SS cap on contributions while leaving the rate at its current (temporarily lowered) rate, mark SS increases to a chained CPI, end most subsidies for ethanol and oil exploration, cut defense by 25%+ by bringing the troops home from our two major engagements and halting programs such as the Joint Strike Fighter and hold government spending at current nominal levels for all other areas for the next three years.
     
    Last edited: Jul 8, 2011
  3. DontBeStupid
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    DontBeStupid Look it up!

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    +1 for good ideas.

    I would add, though, that persistent unemployment is dragging the economy down and thereby dragging revenue down as well. Couple that with decaying infrastructure and I would borrow $2T from China and/or Canada and put everyone to work with a real, true jobs program. I would take half the money and start repairing roads, bridges, etc. Real repairs. I would take the other $1T and construct high speed rail on the level that China is doing. Connect major cities and get people moving around the country and spending around the country. Once it's done, if it's economical for the government to maintain ownership, cool, if not, then I would sell off major pieces to private investors and re-coup some of what was borrowed. If high speed rail isn't your thing, cool, we could do the same with windmills and other green energy sources. The point being, those are jobs that could not be outsourced in the future, so we have lasting positions available.
     
  4. chikenwing
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    chikenwing Guest

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    One would think NOT borrowing insanely large sums of money would be a place to start.
     
  5. waltky
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    waltky Wise ol' monkey Supporting Member

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    Kickin' the can down the road...
    :eusa_eh:
    Boehner to Obama: No big debt cut deal
    10 July`11 - President Obama and the Republicans regrouped Sunday before new debt talks now shadowed by House Speaker John Boehner's decision to pull a $4 trillion reduction proposal because of taxes.

     
  6. BOBO
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    BOBO The Magnificent!

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    ...gladly if ya give me a just ONE .999 troy ounce Maple leaf gold dollar in exchange. This is a GREAT deal & one you don't wanna miss! 300 fed reserve notes for just one paltry .999 troy ounce Maple Leaf, like how can ya lose here?!!!!


     
  7. CrusaderFrank
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    CrusaderFrank Diamond Member

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    1. Scrap ObamaCare and replace it with the Whole Foods Plan

    2. Repeal FinReg.

    3. Consolidate Fannie and Freddie, end the US government guarantees, let banks and investors buy all the F/F loans at auction

    4. Repeal all Federal Labor Laws

    5. Cut Cap Gains 5%, drop tax of overseas profits repatriated to the USA down to 3.5%
     
  8. shintao
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    shintao Take Down ~ Tap Out

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    Gut the Pentagon budget, make everybody contributed the same monetary amount of taxes & gut the IRS, end foreign aid, kick the illegals out, end corporate aid.
     
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  9. traveler52
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    traveler52 Active Member

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    Last edited: Jul 10, 2011
  10. waltky
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    waltky Wise ol' monkey Supporting Member

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    Granny says she ain't payin' it, let dem politicians an' rich folks dat ain't payin' their fair share o' taxes, an' Wall St. bankers dat got us in dis mess pay it...
    :eusa_eh:
    U.S. Must Borrow Another $5,240 Per Household Just to Fund Gov't at Current Level Through Sept. 30
    Sunday, July 10, 2011 - President Barack Obama and congressional leaders including House Speaker John Boehner, who will meet at the White House this evening to discuss a deal to increase the legal limit on the federal government’s debt, would need to agree to increase the national debt by $615.865 billion between now and Sept. 30, just to keep the government going at current spending levels, according to the CBO’s latest estimate of the fiscal 2011 deficit and the Treasury Department’s latest accounting of the federal debt.
    See also:

    Geithner: GOP cuts a 'tax hike' on seniors
    July 10, 2011 - U.S. Treasury Secretary Timothy Geithner said Sunday Republican demands for spending cuts would act as a tax increase on senior citizens and middle class.
     
    Last edited: Jul 10, 2011

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