What is going to happen?

[hortysir]

The governments credit card is maxed out.

Do the math.

Explain please?

What math? Their is no math, I understand you said that as a after-affect? Well, my thing is, I understand we are in debt, but how can we fix it? I have no idea myself.

"We" can't.
Our government has been printing money in order to just pay the interest on all the loans we have.
We will never pay it off without printing ourselves broke.
In the next 20 years China will surpass us as the #1 economy in the world.
Our dollar is dying a painful death.

 

[percysunshine]

Explain please?

What math? Their is no math, I understand you said that as a after-affect? Well, my thing is, I understand we are in debt, but how can we fix it? I have no idea myself.

How would you fix a maxed out credit card? There are only a few options. Default, rob a bank, or go into the profession of counterfitting and print your own dollars. Those are the easy ways out. You could go on an austerity program and put up with the bitching...but that is less appealing ...

So, would robbing a bank be like invading a nation with sources of material?

Then who do we go to? I hate to ask this, I figure it's stupid, but I have to ask just to see the answer:

If we have so many Economists, shouldn't they somehow be able to come up with a plan to help the economy?

Ever had a plumber not fix your clogged sink? Imagine a room full of plumbers with PHDs who have ideas about how to fix the economy.

Hmm, so their payed to think, but not to know, right?

First question...more like using the social security trust fund as a general fund and issuing IOUs.

The second question...very close. Think of it as an exercise in theoretical reductionism.

 

[Pepe]

What I believe and what it appears that many others here believe is that the Empire of Amerika is on a collision course with reality.

The "Official Debt" of the Empire is 14.2 Trillion.

The "Truth" is that the Empire has a conservative 127 Trillion to 203 Trillion in "Unfunded Liabilities."

Another bit of economic reality is that what was "promised" and cannot be paid will NOT be paid.

Some sobering observations.

In FY2010, the Empire "collected" as revenue from all sources, ie; Personal Income Tax, Corporate Income Tax, Customs Duties, Social Security & Medicare Taxes, et. al., 2.4 Trillion.

The Big Four, Social Security/Medicare/Medicaid/Interest on the Debt consumed 2.3 Trillion of the taxes collected.

The math is simple.

If the Empire could magically get rid of DoD and all Social Security, spent not a farthing on either one, the Empire would still be sloshing around in red ink.

Sadly, not one Mandarin in the District of Corruption, the Capitol of the Empire, has the courage to stand up and state "that the Emperor has no clothes."

To be forewarned is to be forearmed, there are massive cuts coming to DoD and the Uniformed Services circa 2015 much like the downsizing after Vietnam when the Army end strength dropped from 1.6 million to 863,000 in about 36 months.

You had better be damned good at what you do and have stellar reviews because most of us contemplate the the Regular AF being cut by 50% and/or having many of its missions transferred to the Guard and Reserve.

The Marines will likely lose one Division and one Air Wing.

The Navy will be forced to mothball 4-6 Carrier Groups.

The Army will be cut an end strength of 350K-360K.

Be prepared.

 

[LordBrownTrout]

I really have no confidence in the government fixing anything anymore. We actually probably need to save ourselves from the federal government at this point.

thanks for naming two impossibilities.

Sure, but our government is a staggering giant. It will continue to get worse. I'm not pessimistic but our government is falling fast.

 

[Cain]

What I believe and what it appears that many others here believe is that the Empire of Amerika is on a collision course with reality.

The "Official Debt" of the Empire is 14.2 Trillion.

The "Truth" is that the Empire has a conservative 127 Trillion to 203 Trillion in "Unfunded Liabilities."

Another bit of economic reality is that what was "promised" and cannot be paid will NOT be paid.

Some sobering observations.

In FY2010, the Empire "collected" as revenue from all sources, ie; Personal Income Tax, Corporate Income Tax, Customs Duties, Social Security & Medicare Taxes, et. al., 2.4 Trillion.

The Big Four, Social Security/Medicare/Medicaid/Interest on the Debt consumed 2.3 Trillion of the taxes collected.

The math is simple.

If the Empire could magically get rid of DoD and all Social Security, spent not a farthing on either one, the Empire would still be sloshing around in red ink.

Sadly, not one Mandarin in the District of Corruption, the Capitol of the Empire, has the courage to stand up and state "that the Emperor has no clothes."

To be forewarned is to be forearmed, there are massive cuts coming to DoD and the Uniformed Services circa 2015 much like the downsizing after Vietnam when the Army end strength dropped from 1.6 million to 863,000 in about 36 months.

You had better be damned good at what you do and have stellar reviews because most of us contemplate the the Regular AF being cut by 50% and/or having many of its missions transferred to the Guard and Reserve.

The Marines will likely lose one Division and one Air Wing.

The Navy will be forced to mothball 4-6 Carrier Groups.

The Army will be cut an end strength of 350K-360K.

Be prepared.

Honestly, I have no idea what I'd do without the military, I guess I'd try to find a group to fight for outside of the US if it came to it.

 

[skeptic]

I really have no confidence in the government fixing anything anymore. We actually probably need to save ourselves from the federal government at this point.

thanks for naming two impossibilities.

Sure, but our government is a staggering giant. It will continue to get worse. I'm not pessimistic but our government is falling fast.

Our government is too big to fail. So is our nation. But our 15 minutes on top of the Super Power food chain is over.

 

[william the wie]

Not so long as people have to eat. The Mississippi basin with the Missouri and other large rivers as tributaries makes US food crops the lowest shipping cost crops in the world. That does make a huge difference.

 

[skeptic]

Not so long as people have to eat. The Mississippi basin with the Missouri and other large rivers as tributaries makes US food crops the lowest shipping cost crops in the world. That does make a huge difference.

It makes a small difference within a small slice of the economy. 10% x 1.2% = ?

 

[LordBrownTrout]

thanks for naming two impossibilities.

Sure, but our government is a staggering giant. It will continue to get worse. I'm not pessimistic but our government is falling fast.

Our government is too big to fail. So is our nation. But our 15 minutes on top of the Super Power food chain is over.

Failing in the physical sense, no. Relegated into sub-mediocrity, yes.

 

[skeptic]

Sure, but our government is a staggering giant. It will continue to get worse. I'm not pessimistic but our government is falling fast.

Our government is too big to fail. So is our nation. But our 15 minutes on top of the Super Power food chain is over.

Failing in the physical sense, no. Relegated into sub-mediocrity, yes.

absolutely.

 

[waltky]

Granny says...

... first dem politicians gonna spend all our money...

... an' den we won't be able to buy no food...

... den we all gonna starve...

... an' den we all gonna die.