We Are Already Committed to a $53 Trillion Debt

Discussion in 'Economy' started by mcmick, Oct 26, 2008.

  1. mcmick
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    mcmick Rookie

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    David M. Walker recently gave up his position as Comptroller General of the United States and overseer of the Government Accountability Office (GAO).

    He did this to start and carry out (has since done so) for months, his “fiscal wake-up tour.”

    Mr. Walker has almost been begging congress (both parties) to take serious action against the $53 trillion dollar long-term debt,
    congress has already committed us to.

    Medicare, Medicaid, and Social Security’s present obligations will now give us this number without very, very serious revisions.

    Mr. Walker’s full GAO report says we are endangering our future security and that in the absence of the necessary revisions a combination of seriously reduced benefits and seriously increased taxes will be necessary and that the nation cannot possibly sustain the present course.

    Neither candidate is addressing this in the manner it deserves to be addressed.

    If McCain is elected and follows up on freezing all but the most vital programs, it would be the most important domestic move in years. Of course, he would have to have the power to do so. Using the veto might get him close.

    If Obama is elected, his promised savings could not come remotely close to his promised spending. Believing it could come close, is simply looking the other way.

    It’s ironic, how much today’s young people, will pay for today’s profligate spending, by both parties, due to idealism and demagoguery.

    "Any man who is under 30, and is not a liberal, has no heart; and any man who is over 30 and is not a conservative, has no brains."
    -Winston Churchill​
     
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  2. DonKayrouz
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    DonKayrouz Rookie

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    i just can't believe it :eek: no replies to a sensitive thread like this one

    :eek:

    are US citizens mind controlled ?
     
  3. Shorebreak
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    Shorebreak Active Member

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    How do you wake someone up when they don't believe that they're asleep?

    Here's why I think a lot of people ignore this kind of post: It's like walking someone up to the surf at the beach, handing them a kids sand bucket, and telling them to bail if they want their kids to have a chance at a decent future.

    What can you do?

    Not a damn thing, so the best and most rational human response is to walk away from the issue and find something meaningful to do.

    Here's the core of the issue: Our current debt exposure is 100% CERTAIN to eliminate the U.S. as a viable economic power. Our day is done. We're not in recession. We're in collapse. The issues today are not cyclical.

    The next time someone tells you that jobs don't come back until AFTER the rescession is over, ask them if the recession is over while we're still DROPPING jobs. If we begin today by adding 2 million new jobs a year, it will take 7 straight years to bring employment back to where we were at the beginning of 2007.

    Can I see a show of hands of folks who honestly believe that it's gonna happen under any kind of political leadership that we have in the Democrat or Republican parties?
     
  4. Rothbardian
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    Rothbardian Rookie

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    Over 100 trillion in debt due to SS, Medicare, Medicaid, etc obligations.
     
  5. The Rabbi
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    The Rabbi Diamond Member

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    Don't worry. Obamacare will reduce the deficit and take care of that. Obama said it, so it muist be true, right??
     
  6. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Any suggestions on what we do about it?

    Anyone?? anyone??
     
  7. The Rabbi
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    The Rabbi Diamond Member

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    Conservatives have made many suggestions. All of them are proven both in theory and practice. The Left continues to dismiss them. Do you really want to replay this scene, again??
     
  8. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    That is not an answer..
    What are we going to do to SS, Medicare etc....

    Bush's solution got shot down. Who has the correct answer?
     
  9. The Rabbi
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    The Rabbi Diamond Member

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    Bush's solution was the correct answer. That and raise the retirement age to like 70.
    People don't realize why 65 became retirement age. I'll bet they'd be shocked to know.
     

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