IMF: America must raise taxes and cut entitlements

[bigrebnc1775]

I agree, except I'd close the gap by 75% spending cuts and 25% tax increases.

Agreed - By the end of 2012 the budget must be closed of very bad things will happen to the US.

I don't think very bad things will happen within the next 18 months if they don't get the budget under control. Many countries have been far worse than America. But maybe I'm wrong, I don't know. However, this can't go on indefinitely.

No it can't.

 

[bigrebnc1775]

I agree, except I'd close the gap by 75% spending cuts and 25% tax increases.

Agreed - By the end of 2012 the budget must be closed of very bad things will happen to the US.

You are not providing a very bright outlook for our future.

Immie

Who ever said the truth had a bright outlook?

 

[editec]

Well the "give me" crowd will not like the latest news from the international stage.

To restrain the U.S.’s future budget crisis, the federal government must raise taxes by at least 35% and cut entitlements such as health care and Social Security by 35%, International Monetary Fund economists warned Monday in a new working paper.

While the projected ballooning of future costs of entitlements as the so-called baby boomer generation enters old age isn’t new, the IMF paper’s quantifying just how much the federal government will have trim its balance sheets sheds fresh light on the political hurdles ahead.

To Contain Future Budget, US Must Raise Taxes By 35%, Cut Entitlements 35% - Real Time Economics - WSJ
Will obama obey his handlers or will he continue down that dangerous road of entitlements?

You know my theory that the masters are defanging nations in favor of international corporations?

Well?

What does this look like?

This is an international corporation of BANSTERS telling the US government what it must do.

Are you getting it yet, boys and girls?

 

[bigrebnc1775]

Well the "give me" crowd will not like the latest news from the international stage.

To restrain the U.S.’s future budget crisis, the federal government must raise taxes by at least 35% and cut entitlements such as health care and Social Security by 35%, International Monetary Fund economists warned Monday in a new working paper.

While the projected ballooning of future costs of entitlements as the so-called baby boomer generation enters old age isn’t new, the IMF paper’s quantifying just how much the federal government will have trim its balance sheets sheds fresh light on the political hurdles ahead.

To Contain Future Budget, US Must Raise Taxes By 35%, Cut Entitlements 35% - Real Time Economics - WSJ
Will obama obey his handlers or will he continue down that dangerous road of entitlements?

You know my theory that the masters are defanging nations in favor of international corporations?

Well?

What does this look like?

This is an international corporation of BANSTERS telling the US government what it must do.

Are you getting it yet, boys and girls?

We cannot continue down the road of entitlements, however we cannot submit to obama's handlers.

 

[KissMy]

Agreed - By the end of 2012 the budget must be closed of very bad things will happen to the US.

I don't think very bad things will happen within the next 18 months if they don't get the budget under control. Many countries have been far worse than America. But maybe I'm wrong, I don't know. However, this can't go on indefinitely.

No it can't.

We know after elections the elected like to throw the money around to their supporters just as Obama has done. He set spending records immediately after taking office. So if this budget gap does not get closed by the 2012 election, then it won't get closed afterwords either. It will only get worse.

 

[Bernard]

The problem is gov't spending, not that taxes are too low.

The American people are broke. How can you raise taxes when they have no more to give. There is only so much juice in an orange.

Raising taxes will not work when the people paying them are broke.

The government will think of a way. Maybe give out more benefits and then raise taxes to make it look like they are doing something.

Ther gov't cannot think. You cannot raise taxes on people who are broke. The American middle class pay the taxes and they are broke. THey got tens of thousands in credit card debt with no equity in their homes anymore.


The tooth fairy does not exist!

 

[waltky]

Granny wantin' tp know when she gonna get dat second stimulus check so we can be a great country?...

Obama: ‘We Would Not Be a Great Country’ Without Gov’t Entitlements
Wednesday, April 13, 2011 Washington – In his major fiscal address today, which called for tax increases, military budget cuts, and entitlement reforms, President Barack Obama said government entitlements make America great.

“‘There but for the grace of God go I,’ we say to ourselves, and so we contribute to programs like Medicare and Social Security, which guarantee us health care and a measure of basic income after a lifetime of hard work; unemployment insurance, which protects us against unexpected job loss; and Medicaid, which provides care for millions of seniors in nursing homes, poor children, and those with disabilities,” Obama said. “We are a better country because of these commitments. I’ll go further – we would not be a great country without those commitments.”

In his speech at George Washington University, which was broadcast nationwide, Obama announced a four-step plan to cut $4 trillion over 12 years, and harshly criticized a plan by House Budget Committee Chairman Paul Ryan (R-Wisc.) released last week that calls for $6 trillion in deficit reduction over 10 years and entitlement reform. Attending the speech were Vice President Joe Biden, Treasury Secretary Timothy Geithner, White House Office of Management and Budget Director Jack Lew and the co-chairs of Obama’s bipartisan debt commission, former Clinton Chief of Staff Erskine Bowles and former Wyoming Republican Senator Alan Simpson.

Obama called for bipartisan cooperation to solve the nation’s exploding debt and deficit problem, but used uncompromising rhetoric about raising taxes on high-income earners “In December, I agreed to extend the tax cuts for the wealthiest Americans because it was the only way I could prevent a tax hike on middle-class Americans,” Obama told a crowd of about 200 at the university. “But we cannot afford $1-trillion worth of tax cuts for every millionaire and billionaire in our society. And I refuse to renew them again.” Obama referred to getting rid of the Bush tax cuts and eliminating certain tax deductions as a plan to “reduce spending in the tax code.”

MORE

 

[LostAmerican]

Well the "give me" crowd will not like the latest news from the international stage.

To restrain the U.S.’s future budget crisis, the federal government must raise taxes by at least 35% and cut entitlements such as health care and Social Security by 35%, International Monetary Fund economists warned Monday in a new working paper.

While the projected ballooning of future costs of entitlements as the so-called baby boomer generation enters old age isn’t new, the IMF paper’s quantifying just how much the federal government will have trim its balance sheets sheds fresh light on the political hurdles ahead.

To Contain Future Budget, US Must Raise Taxes By 35%, Cut Entitlements 35% - Real Time Economics - WSJ
Will obama obey his handlers or will he continue down that dangerous road of entitlements?

Just kick out all the Mexican deadbeats!!