Six trillion plus in cuts needed by 2020

[william the wie]

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.

 

[B. Kidd]

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.

It's about time you tore yourself away from the book you're writing to post!
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.

 

[Zander]

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.

 

[American Horse]

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.

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?

 

[B. Kidd]

......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.

 

[ShackledNation]

If we followed the Constitution we would never be in this mess.

 

[Trajan]

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.

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.

 

[LordBrownTrout]

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.

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?

 

[Avorysuds]

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 ******* Paul.

 

[william the wie]

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.

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?

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.

 

[B. Kidd]

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.

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?

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.

What is the title going to be?
"Working From the Womb to the Tomb"?
Plenty of people dropped dead in their late 40's and 50's where I worked, well before they reached retirement.
Jus' sayin'.

 

[william the wie]

"The AWOL Anti-Christ" people really identify with Satan and a break from the market's trading range feels really good.

 

[Paulie]

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.

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?

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.

I say make retirement 90+. Just think how much we'll save in entitlement expenditures.

 

[Zander]

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.

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.

Freeze entitlements too. This ain't rocket science. We spend too much. The only way back to sanity is to freeze everything. Normal growth will create a balanced budget in 5-6 years.

We then need to educate people about the crafty ways of the DC Bureaucrat. Only in DC is a spending increase considered a spending cut. It's ridiculous!

Then we reform and rework all entitlement programs. We can start by raising the eligibility age for Social Security and Medicare to life match currenty expectancy. We should eliminate Obamacare and the Medicare drug benefit completely.

We can do this all with no new taxes and no spending cuts.

 

[B. Kidd]

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.

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?

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.

WTF! The link to a life expectancy is 18 years. The average retirement age is currently age 62. The average American woman lives to age 82 and males 5 years less. 65+ is too high, as age 65 should be the top.

What Is the Average Retirement Age in America? | eHow.com

 

[B. Kidd]

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?

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.

I say make retirement 90+. Just think how much we'll save in entitlement expenditures.

You're young, therefore prone to idiocy, at times.
This is one of those times.

 

[Zander]

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?

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.

I say make retirement 90+. Just think how much we'll save in entitlement expenditures.

I'd agree to that, but I am financially independent and can live without anything from Social Security.

I think a reasonable age is 72 for early retirement, 75 for full retirement. (feel free to retire at any age you like if you can afford it. But government benefits should not start until 72)

 

[Paulie]

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.

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.

Freeze entitlements too. This ain't rocket science. We spend too much. The only way back to sanity is to freeze everything. Normal growth will create a balanced budget in 5-6 years.

We then need to educate people about the crafty ways of the DC Bureaucrat. Only in DC is a spending increase considered a spending cut. It's ridiculous!

Then we reform and rework all entitlement programs. We can start by raising the eligibility age for Social Security and Medicare to life match currenty expectancy. We should eliminate Obamacare and the Medicare drug benefit completely.

We can do this all with no new taxes and no spending cuts.

The thing about it is that people would have to adapt to a new system where they are more responsible for their future. Instead of being afraid of that, we should welcome it. Human beings are highly resilient, it would be a shock at first but it's certainly not anything we're not capable of. There's just not that much incentive to work hard for your future and your retirement when government is guaranteeing it for you.

That needs to change. It's not that big of a damn deal.

 

[Paulie]

I was kidding about the 90 year old retirement thing. I think we have some wiggle room for raising it, but my biggest position on it is allowing for a voluntary opt-out.

Make it be like the GI Bill, where you have only ONE CHANCE to accept or decline. The decision is permanent, so that people wouldn't just come to their decision lightly.

 

[B. Kidd]

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.

I say make retirement 90+. Just think how much we'll save in entitlement expenditures.

I'd agree to that, but I am financially independent and can live without anything from Social Security.

I think a reasonable age is 72 for early retirement, 75 for full retirement. (feel free to retire at any age you like if you can afford it. But government benefits should not start until 72)

'Reasonable' is from your perspective as in congrats that you are financially independent.
The 'mean' between life expectancy for American women and men combined is about age 78 to age 79, give or take a handful of months. Therefore, at your set age for early retirement, Americans can expect to enjoy 6-7 years of non-working golden years.
Why retire at all?