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WE...............you gotta a mouse in your pocket.............LOLThere is no solution. This country is doomed. The only thing smart people can do is start over again somewhere else.Except for the defense budget, Congress has never cut anything, ever. No plan that doesn't get around the irrefutable fact is doomed from the get-go.The OP uses the actual 2019 Budget. It doesn't balance by ~$900b. Baseline budgeting gets increased by emergency spending for wars, etc. Keep it simple. Revenue needs to be greater than spending. I proposed 50/50 between cuts/revenue. The dems will whine about the cuts, and the GOP will squeal about the 10% tax increase, which is really 3% less due to the recent tax cut, so its really a 7% tax increase above the 2016 rates.
OK, what is your solution? At the rate of borrowing $1T a year the interest payments crowd out all discretionary spending by 2030 as interest rates rise, so what do you propose?????? How do you fund defense and the federal government?
What are YOU gonna do, then. We sure ain’t gonna take you along.
The "initial design" was intended to get Roosevelt reelected. There was no plan for the years after that. The planning horizon for politicians is the next election, and not one day further.Who da fuck said I agreed with FDR..........never have...........he economically suicide us a long time ago.........You're giving Roosevelt far too much credit. If you believe he was thinking beyond the next election, then you must have the word "gullible" tattooed on your forehead.S.S. was designed that the population would have to increase dramatically over time to pay for itself.......When it began there was plenty of people to pay in for what goes out. It was also based on how long people live. The Intergovernmental debt..........aka the money in that was robbed.........replaced by IOU's.....will eventually go to 0......and then debt will explode at even a greater rate.........Policy Report: Running Out of Other People’s Money
That gap is the “unfunded liability” or “implicit debt” for those programs.
Implicit debt, of course, represents the “softest” form of debt, in that there is no legal requirement to pay all the promised benefits. But “soft” does not mean debt that can be completely dismissed. Those benefit payments are called for under current law, and it would take congressional action to change them. Unless and until Congress does so, those obligations exist. That is why, for private companies, future promises to pay benefits are generally categorized as debt according to Generally Accepted Accounting Principles (GAAP) and other accounting authorities. If the government was required to report its debt in the same way public companies do, those promises would show up as debt.
Social Security’s future unfunded obligations now run to more than $24.9 trillion. Medicare’s unfunded liabilities are more difficult to nail down, in part because of the uncertainty brought about by the new health care reform law. In 2009, Medicare’s trustees estimated that the program’s unfunded liabilities were $88.9 trillion. Since then, health care inflation has been running at a slower rate. Economists debate the reason for this decline and whether it will continue, but it has resulted in a reduction of Medicare’s unfunded liabilities to just (!) $47.6 trillion. Thus, the real combined federal debt (debt held by public + intragovernmental debt + implicit debt) actually totals at least $90.5 trillion. That’s real money—even in Washington— roughly $282,000 for every man, woman, and child in America. Students graduating from college today worry about their college debt…. That’s nothing compared with what they owe as a share of the country’s debt.
Moreover, these projections assume that interest rates on government debt remain somewhere near current levels, which is about 2 percent. The CBO points out that, even at this low rate, interest on the debt is becoming an ever larger portion of federal spending. This year, the federal government will pay $229 billion in interest charges. By 2024, with just a modest expected increase in interest rates, that will rise to more than $808 billion. Not long afterward, we will be paying a trillion dollars every year just for interest on the debt. By 2035, in fact, interest on the debt will be tied with Medicare as the second-largest line item in the federal budget, trailing only Social Security.
And interest rates may not stay this low. It is estimated that every 1 percent increase in interest rates adds as much as $1 trillion in additional interest payments over the next decade. Over the past two decades the average rate of interest on government debt has been roughly 5.7 percent. Therefore, if interest rates were to return to anything close to traditional levels, it would add trillions to our future obligations.
SS is supposed to be able to pay 79% of promised benefits even if they let it go insolvent.
Social Security must reduce benefits in 2034 if reforms aren't made - CNNPolitics
Medicare's unfunded liabilities can be addressed by increasing the 20% hole to a higher percentage.
I still want the government to Balance the Budget so we aren't borrowing to cover the interest on the Debt. Its like using a credit card for everything until it maxes out, then you declare bankruptcy. Except the US can't do that.
Pension debt is massive.......S.S., Medicaid, and Medicare future debt is massive..........No dang way to pay what's coming..........
For decades I would show how we could cut spending.......and increase revenue......why waste my time anymore when the the Gov't will never do it anyway. The debt will continue to explode upwards until we implode.............and have a global reset.........Every year it gets worse.......and they will do nothing to change it.............
Thus why I put up the kiss my ass video in this thread........
It was never meant to be a gov't to hand out money when and where they please...........That was against the Constitution until they screwed it up...................States were to decide their own path with limited Gov't powers........
Our gov't is the nightmare the Founding Fathers warned us about.
My quote was specific to the initial design............not in support of...........aim your scatter gun elsewhere.
Several reasons.There must be a reason why the “fair tax” idea has not become more mainstream. Mike Huckabee took a shine to it a few years back. But I doubt that idiot really understands the subject.
I wonder why it hasn’t gained more positive attention?
Precisely.Then we are fucked 10 ways sideways......and we go to perdition.....strap in ...........it's gonna be a hell of a ride off the cliff.......There is no such thing as an ethical politician. The phrase is any oxymoron.All career politicians need to go...........All of them............Except for the defense budget, Congress has never cut anything, ever. No plan that doesn't get around the irrefutable fact is doomed from the get-go.The OP uses the actual 2019 Budget. It doesn't balance by ~$900b. Baseline budgeting gets increased by emergency spending for wars, etc. Keep it simple. Revenue needs to be greater than spending. I proposed 50/50 between cuts/revenue. The dems will whine about the cuts, and the GOP will squeal about the 10% tax increase, which is really 3% less due to the recent tax cut, so its really a 7% tax increase above the 2016 rates.
OK, what is your solution? At the rate of borrowing $1T a year the interest payments crowd out all discretionary spending by 2030 as interest rates rise, so what do you propose?????? How do you fund defense and the federal government?
And find ethical people to replace them that can't be bought............
No other way..........it's not going to happen..........so buckle up......we are headed to the cliff eventually.
I agree.The "initial design" was intended to get Roosevelt reelected. There was no plan for the years after that. The planning horizon for politicians is the next election, and not one day further.Who da fuck said I agreed with FDR..........never have...........he economically suicide us a long time ago.........You're giving Roosevelt far too much credit. If you believe he was thinking beyond the next election, then you must have the word "gullible" tattooed on your forehead.S.S. was designed that the population would have to increase dramatically over time to pay for itself.......When it began there was plenty of people to pay in for what goes out. It was also based on how long people live. The Intergovernmental debt..........aka the money in that was robbed.........replaced by IOU's.....will eventually go to 0......and then debt will explode at even a greater rate.........Policy Report: Running Out of Other People’s Money
That gap is the “unfunded liability” or “implicit debt” for those programs.
Implicit debt, of course, represents the “softest” form of debt, in that there is no legal requirement to pay all the promised benefits. But “soft” does not mean debt that can be completely dismissed. Those benefit payments are called for under current law, and it would take congressional action to change them. Unless and until Congress does so, those obligations exist. That is why, for private companies, future promises to pay benefits are generally categorized as debt according to Generally Accepted Accounting Principles (GAAP) and other accounting authorities. If the government was required to report its debt in the same way public companies do, those promises would show up as debt.
Social Security’s future unfunded obligations now run to more than $24.9 trillion. Medicare’s unfunded liabilities are more difficult to nail down, in part because of the uncertainty brought about by the new health care reform law. In 2009, Medicare’s trustees estimated that the program’s unfunded liabilities were $88.9 trillion. Since then, health care inflation has been running at a slower rate. Economists debate the reason for this decline and whether it will continue, but it has resulted in a reduction of Medicare’s unfunded liabilities to just (!) $47.6 trillion. Thus, the real combined federal debt (debt held by public + intragovernmental debt + implicit debt) actually totals at least $90.5 trillion. That’s real money—even in Washington— roughly $282,000 for every man, woman, and child in America. Students graduating from college today worry about their college debt…. That’s nothing compared with what they owe as a share of the country’s debt.
Moreover, these projections assume that interest rates on government debt remain somewhere near current levels, which is about 2 percent. The CBO points out that, even at this low rate, interest on the debt is becoming an ever larger portion of federal spending. This year, the federal government will pay $229 billion in interest charges. By 2024, with just a modest expected increase in interest rates, that will rise to more than $808 billion. Not long afterward, we will be paying a trillion dollars every year just for interest on the debt. By 2035, in fact, interest on the debt will be tied with Medicare as the second-largest line item in the federal budget, trailing only Social Security.
And interest rates may not stay this low. It is estimated that every 1 percent increase in interest rates adds as much as $1 trillion in additional interest payments over the next decade. Over the past two decades the average rate of interest on government debt has been roughly 5.7 percent. Therefore, if interest rates were to return to anything close to traditional levels, it would add trillions to our future obligations.
SS is supposed to be able to pay 79% of promised benefits even if they let it go insolvent.
Social Security must reduce benefits in 2034 if reforms aren't made - CNNPolitics
Medicare's unfunded liabilities can be addressed by increasing the 20% hole to a higher percentage.
I still want the government to Balance the Budget so we aren't borrowing to cover the interest on the Debt. Its like using a credit card for everything until it maxes out, then you declare bankruptcy. Except the US can't do that.
Pension debt is massive.......S.S., Medicaid, and Medicare future debt is massive..........No dang way to pay what's coming..........
For decades I would show how we could cut spending.......and increase revenue......why waste my time anymore when the the Gov't will never do it anyway. The debt will continue to explode upwards until we implode.............and have a global reset.........Every year it gets worse.......and they will do nothing to change it.............
Thus why I put up the kiss my ass video in this thread........
It was never meant to be a gov't to hand out money when and where they please...........That was against the Constitution until they screwed it up...................States were to decide their own path with limited Gov't powers........
Our gov't is the nightmare the Founding Fathers warned us about.
My quote was specific to the initial design............not in support of...........aim your scatter gun elsewhere.
I don't know that.....Didn't live back then.....historians vary on the account.......doesn't matter anyway....except that it's coming home to roost.The "initial design" was intended to get Roosevelt reelected. There was no plan for the years after that. The planning horizon for politicians is the next election, and not one day further.Who da fuck said I agreed with FDR..........never have...........he economically suicide us a long time ago.........You're giving Roosevelt far too much credit. If you believe he was thinking beyond the next election, then you must have the word "gullible" tattooed on your forehead.S.S. was designed that the population would have to increase dramatically over time to pay for itself.......When it began there was plenty of people to pay in for what goes out. It was also based on how long people live. The Intergovernmental debt..........aka the money in that was robbed.........replaced by IOU's.....will eventually go to 0......and then debt will explode at even a greater rate.........Policy Report: Running Out of Other People’s Money
That gap is the “unfunded liability” or “implicit debt” for those programs.
Implicit debt, of course, represents the “softest” form of debt, in that there is no legal requirement to pay all the promised benefits. But “soft” does not mean debt that can be completely dismissed. Those benefit payments are called for under current law, and it would take congressional action to change them. Unless and until Congress does so, those obligations exist. That is why, for private companies, future promises to pay benefits are generally categorized as debt according to Generally Accepted Accounting Principles (GAAP) and other accounting authorities. If the government was required to report its debt in the same way public companies do, those promises would show up as debt.
Social Security’s future unfunded obligations now run to more than $24.9 trillion. Medicare’s unfunded liabilities are more difficult to nail down, in part because of the uncertainty brought about by the new health care reform law. In 2009, Medicare’s trustees estimated that the program’s unfunded liabilities were $88.9 trillion. Since then, health care inflation has been running at a slower rate. Economists debate the reason for this decline and whether it will continue, but it has resulted in a reduction of Medicare’s unfunded liabilities to just (!) $47.6 trillion. Thus, the real combined federal debt (debt held by public + intragovernmental debt + implicit debt) actually totals at least $90.5 trillion. That’s real money—even in Washington— roughly $282,000 for every man, woman, and child in America. Students graduating from college today worry about their college debt…. That’s nothing compared with what they owe as a share of the country’s debt.
Moreover, these projections assume that interest rates on government debt remain somewhere near current levels, which is about 2 percent. The CBO points out that, even at this low rate, interest on the debt is becoming an ever larger portion of federal spending. This year, the federal government will pay $229 billion in interest charges. By 2024, with just a modest expected increase in interest rates, that will rise to more than $808 billion. Not long afterward, we will be paying a trillion dollars every year just for interest on the debt. By 2035, in fact, interest on the debt will be tied with Medicare as the second-largest line item in the federal budget, trailing only Social Security.
And interest rates may not stay this low. It is estimated that every 1 percent increase in interest rates adds as much as $1 trillion in additional interest payments over the next decade. Over the past two decades the average rate of interest on government debt has been roughly 5.7 percent. Therefore, if interest rates were to return to anything close to traditional levels, it would add trillions to our future obligations.
SS is supposed to be able to pay 79% of promised benefits even if they let it go insolvent.
Social Security must reduce benefits in 2034 if reforms aren't made - CNNPolitics
Medicare's unfunded liabilities can be addressed by increasing the 20% hole to a higher percentage.
I still want the government to Balance the Budget so we aren't borrowing to cover the interest on the Debt. Its like using a credit card for everything until it maxes out, then you declare bankruptcy. Except the US can't do that.
Pension debt is massive.......S.S., Medicaid, and Medicare future debt is massive..........No dang way to pay what's coming..........
For decades I would show how we could cut spending.......and increase revenue......why waste my time anymore when the the Gov't will never do it anyway. The debt will continue to explode upwards until we implode.............and have a global reset.........Every year it gets worse.......and they will do nothing to change it.............
Thus why I put up the kiss my ass video in this thread........
It was never meant to be a gov't to hand out money when and where they please...........That was against the Constitution until they screwed it up...................States were to decide their own path with limited Gov't powers........
Our gov't is the nightmare the Founding Fathers warned us about.
My quote was specific to the initial design............not in support of...........aim your scatter gun elsewhere.
What does "take me along" mean?There is no solution. This country is doomed. The only thing smart people can do is start over again somewhere else.Except for the defense budget, Congress has never cut anything, ever. No plan that doesn't get around the irrefutable fact is doomed from the get-go.The OP uses the actual 2019 Budget. It doesn't balance by ~$900b. Baseline budgeting gets increased by emergency spending for wars, etc. Keep it simple. Revenue needs to be greater than spending. I proposed 50/50 between cuts/revenue. The dems will whine about the cuts, and the GOP will squeal about the 10% tax increase, which is really 3% less due to the recent tax cut, so its really a 7% tax increase above the 2016 rates.
OK, what is your solution? At the rate of borrowing $1T a year the interest payments crowd out all discretionary spending by 2030 as interest rates rise, so what do you propose?????? How do you fund defense and the federal government?
What are YOU gonna do, then. We sure ain’t gonna take you along.
What does "take me along" mean?There is no solution. This country is doomed. The only thing smart people can do is start over again somewhere else.Except for the defense budget, Congress has never cut anything, ever. No plan that doesn't get around the irrefutable fact is doomed from the get-go.The OP uses the actual 2019 Budget. It doesn't balance by ~$900b. Baseline budgeting gets increased by emergency spending for wars, etc. Keep it simple. Revenue needs to be greater than spending. I proposed 50/50 between cuts/revenue. The dems will whine about the cuts, and the GOP will squeal about the 10% tax increase, which is really 3% less due to the recent tax cut, so its really a 7% tax increase above the 2016 rates.
OK, what is your solution? At the rate of borrowing $1T a year the interest payments crowd out all discretionary spending by 2030 as interest rates rise, so what do you propose?????? How do you fund defense and the federal government?
What are YOU gonna do, then. We sure ain’t gonna take you along.
And what have you done to stop that.......hmmmmI agree.The "initial design" was intended to get Roosevelt reelected. There was no plan for the years after that. The planning horizon for politicians is the next election, and not one day further.Who da fuck said I agreed with FDR..........never have...........he economically suicide us a long time ago.........You're giving Roosevelt far too much credit. If you believe he was thinking beyond the next election, then you must have the word "gullible" tattooed on your forehead.S.S. was designed that the population would have to increase dramatically over time to pay for itself.......When it began there was plenty of people to pay in for what goes out. It was also based on how long people live. The Intergovernmental debt..........aka the money in that was robbed.........replaced by IOU's.....will eventually go to 0......and then debt will explode at even a greater rate.........SS is supposed to be able to pay 79% of promised benefits even if they let it go insolvent.
Social Security must reduce benefits in 2034 if reforms aren't made - CNNPolitics
Medicare's unfunded liabilities can be addressed by increasing the 20% hole to a higher percentage.
I still want the government to Balance the Budget so we aren't borrowing to cover the interest on the Debt. Its like using a credit card for everything until it maxes out, then you declare bankruptcy. Except the US can't do that.
Pension debt is massive.......S.S., Medicaid, and Medicare future debt is massive..........No dang way to pay what's coming..........
For decades I would show how we could cut spending.......and increase revenue......why waste my time anymore when the the Gov't will never do it anyway. The debt will continue to explode upwards until we implode.............and have a global reset.........Every year it gets worse.......and they will do nothing to change it.............
Thus why I put up the kiss my ass video in this thread........
It was never meant to be a gov't to hand out money when and where they please...........That was against the Constitution until they screwed it up...................States were to decide their own path with limited Gov't powers........
Our gov't is the nightmare the Founding Fathers warned us about.
My quote was specific to the initial design............not in support of...........aim your scatter gun elsewhere.
Our politicians do exactly what we demand of them. "Those other bastard politicians spend too much on PORK, but our guy brings home the BACON!"
Our problem is not with our politicians. Our problem is with the person in the mirror.
We get the politicians we deserve.
This fails is a false comparison fallacy.Secrets of the Federal Budget Revealed
Trying to simplify the US Budget process, 2019 revenue is about $3.4T, plus the borrowing of about $985b to cover the $4.4T 2018 Budget. That is at least $900b too high. So looking at the Budget items from the article:
Mandatory spending $2.74T
Social Security $1,050b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b
Discretionary $1.3T
Defense $893b
Busting 5 Myths About Government Discretionary Spending
Department Budget Emergency Total Discretionary
Dept of Defense $597.1 $88.9 $686.0
HHS $69.5 $0.5 $70.0
Education $59.9 $59.9
VA $83.1 $83.1
Homeland Security $46.0 $6.7 $52.7
Energy Dept $29.2 $29.2
NNSA $15.1 $15.1
HUD $29.2 $29.2
State Dept $28.3 $12.0 $40.3
NASA $19. $19.9
All Other Agencies$129.8 $3.3 $133.1
TOTAL $1,303b
If you stare at the numbers for a few minutes it becomes apparent that to cut spending by more than $900b it needs to come from Entitlements.
SS can't be cut, those benefits were promised. However, the retirement age can be raised and a few tweaks can be made to keep it solvent.
Medicare can't be cut, those benefits were promised, however some savings can be realized to keep it solvent.
Medicaid can be cut, those benefits were not earned.
Welfare can be cut, those benefits were not earned.
If the deficit is covered 1/2 by cuts and 1/2 by revenue
Revenue needs to increase by $500b. (all tax rates need to increase 10%)
Defense needs to be cut by at least 10%, say $100b to $793b
Cuts of $400b need to come out of welfare ($250b) + ($150b) medicaid, with some savings from SS & Medicare if possible.
Who supports getting back to a Balanced Budget? It is not that difficult
This fails is a false comparison fallacy.Secrets of the Federal Budget Revealed
Trying to simplify the US Budget process, 2019 revenue is about $3.4T, plus the borrowing of about $985b to cover the $4.4T 2018 Budget. That is at least $900b too high. So looking at the Budget items from the article:
Mandatory spending $2.74T
Social Security $1,050b
Medicare $625b
Medicaid $412b
Welfare $462b
Interest on the Debt $363b
Discretionary $1.3T
Defense $893b
Busting 5 Myths About Government Discretionary Spending
Department Budget Emergency Total Discretionary
Dept of Defense $597.1 $88.9 $686.0
HHS $69.5 $0.5 $70.0
Education $59.9 $59.9
VA $83.1 $83.1
Homeland Security $46.0 $6.7 $52.7
Energy Dept $29.2 $29.2
NNSA $15.1 $15.1
HUD $29.2 $29.2
State Dept $28.3 $12.0 $40.3
NASA $19. $19.9
All Other Agencies$129.8 $3.3 $133.1
TOTAL $1,303b
If you stare at the numbers for a few minutes it becomes apparent that to cut spending by more than $900b it needs to come from Entitlements.
SS can't be cut, those benefits were promised. However, the retirement age can be raised and a few tweaks can be made to keep it solvent.
Medicare can't be cut, those benefits were promised, however some savings can be realized to keep it solvent.
Medicaid can be cut, those benefits were not earned.
Welfare can be cut, those benefits were not earned.
If the deficit is covered 1/2 by cuts and 1/2 by revenue
Revenue needs to increase by $500b. (all tax rates need to increase 10%)
Defense needs to be cut by at least 10%, say $100b to $793b
Cuts of $400b need to come out of welfare ($250b) + ($150b) medicaid, with some savings from SS & Medicare if possible.
Who supports getting back to a Balanced Budget? It is not that difficult
