Six trillion plus in cuts needed by 2020

Discussion in 'Economy' started by william the wie, Aug 6, 2011.

  1. william the wie
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    william the wie Gold Member

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    By 2020 the national debt will be 20 trillion vs. 14 T now. With economic and employment growth effectively 0 as far as the eye can see we are in trouble. Assuming the usual downward revisions in GDP numbers and further problems in the EU and the Far East the choice is drastic cuts or further downgrades. I was wondering what you think.
     
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  2. B. Kidd
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    B. Kidd Gold Member

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    It's about time you tore yourself away from the book you're writing to post! :coffee:
    What I think:
    5 countries have come back from a downgrade back to triple A. And the average time to come back was between 9 and 18 years!
    We got a 33% chance to be downgraded furthur in 2 years.
    If you do not own hip-boots, get'em now. The shit has just gotten deeper. :smoke:
     
  3. Zander
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    Zander Platinum Member

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    Freeze federal spending for 5 years and we have a balanced budget by 2016, possibly a surplus. No spending cuts required, just a freeze at today's bloated spending rate and today's tax code.
    [​IMG]
     
  4. American Horse
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    American Horse AKA "Mustang"

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    I think it ought to be entirely doable to cut that out of our budget if we could eliminate base line budgeting, pass a balanced budget amendment, and beat our addiction to writing new programs into every new law written.

    This has to reach the public's consciousness; will the Media stop being derelict and partisan and do their constitutional job to inform the people?
     
  5. B. Kidd
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    B. Kidd Gold Member

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    ......or Zander, start a successful witch-hunt aimed at S&P, which rumor has it the Obie Admin. might initiate, to buy more time to continue to spend.
     
  6. ShackledNation
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    ShackledNation Libertarian

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    If we followed the Constitution we would never be in this mess.
     
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  7. Trajan
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    Trajan conscientia mille testes

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    entitlements will not stand still, they simply won't, thats why that graph though as 'true' as it appears, is a fantasy on practical terms. the dem answer appears to be, to cut defense, tax more and denude payments to care givers and institutions that deliver it, as if that will work......

    my rant;
    once gov. got in the business of social engineering, this was foretold.
    The Europeans discovered this sooner than we did becasue we have a much more highly 'evolved ' credit economy, which bought us more time............Europe in the 70's and 80's started running flat and unemployment reached levels that they could not wrestle to the ground, there are just not enough producers to provide succor to those that have been told they will be taken care of by those producers.

    once gov was in the social engineering bus., their mismanagement of the our financial affairs did not make this happen, it has just made it happen SOONER.
     
  8. LordBrownTrout
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    LordBrownTrout Gold Member

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    I think we're in a lot of trouble too. The only way this can be managed is to pay this debt off in a hurry, say 5 years. I'd even be willing to look at a one penny tax on every good, service bought to pay it off. We need to break through a new technological front that leads the world.

    How's that book coming along?
     
  9. Avorysuds
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    Avorysuds Gold Member

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    I think we need a strong leader in 2012... Someone that is not Obama... Someone that can make things happen even when the Reps and the Dems are playing games... Someone like Ron Fucking Paul.
     
  10. william the wie
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    william the wie Gold Member

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    only 145 pages so far. I am listing the consequences of complaisancy

    The only actual problem with entitlements is the lack of a link to life expectancy. By all actuarial expectations early retirement should be at least 65+, medicare 67-8 (It came in in the 1960s) and full social security 70-75 today.
     

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