Hmmm.....So, we are going to pay this off....when? And how...?

http://www.msnbc.msn.com/id/6515282/

Originally posted by Overdose
Hmmm.....So, we are going to pay this off....when? And how...?

http://www.msnbc.msn.com/id/6515282/

Never . . .

I hate politicians.

I suggest taking over a smaller underdeveloped country and rape them of their resources.

8 trillion $ in debt - wow that is a huge debt. Pretty soon interest payments are going to be taking up 20 cents of every tax $ we pay.

The US needs to go to credit counselling .

Apparently, politicians haven't figured out how to save a load of money by switching to Geico.

I still like my idea better... I mean come on... if America is one of the major powers on Earth... why not take advantage of it instead of taking it up the Ass.... dolling out billions of dollars in foreign aid to clean up the mess we made.

Originally posted by silverbulletkc
Apparently, politicians haven't figured out how to save a load of money by switching to Geico. Zing!!! :lolhit:

I vote we legalize pot and tax the hell out of it to pay off the debt...I figure 18 months tops...

Even if it doesn't work we'll be happier...:D

To quote Zap Comics, "Dope will get you through times of no money better than money will get you through times of no dope."

Originally posted by Vilepagan
I vote we legalize pot and tax the hell out of it to pay off the debt...I figure 18 months tops...

Even if it doesn't work we'll be happier...:D

I second that motion! ::smiles:: What! Tax the Hell out of it? ::is thinking::

We'll inflate our way out of it same as every other country does.

Dop

Originally posted by silverbulletkc
Apparently, politicians haven't figured out how to save a load of money by switching to Geico.

Irony alert! GEICO = Government Employee Insurance COmpany

Originally posted by LionelHutz
Irony alert! GEICO = Government Employee Insurance COmpany
Whoa...didn't even realize that...lol, good point, Lionel.

funny thing is, 10 trillion deficit, 10 trillion surplus, no ones life changes.

Originally posted by Travh20
funny thing is, 10 trillion deficit, 10 trillion surplus, no ones life changes.

Wrong.

http://www.theatlantic.com/doc/prem/200401/littlefield



Even if you think government budget numbers are generally not very interesting, here's a number to quicken the pulse: $45.5 trillion. That's the size of the long-term gap between the federal government's projected outlays (future spending plus current debt) and its projected revenues.

Jagadeesh Gokhale and Kent Smetters, economists working at the Federal Reserve Bank of Cleveland and the University of Pennsylvania, respectively, have looked further into the future and determined that, in effect, if the U.S. government were a company its owner would have to pay a rational investor $45.5 trillion to take it off his hands. To put this figure in perspective: the entire U.S. economy generated only about $10.4 trillion last year, and total household wealth is currently only about $39 trillion.

This year the national debt is likely to hit $7.5 trillion, or about $25,600 for every American. But each American's share of the government's long-term unfunded liabilities—meaning tomorrow's debt as well as today's—comes to about $156,000. Though no single generation will have to cover the whole $45.5 trillion (and the generations that are already in or very near retirement may not need to cover any of it), ultimately some Americans will have to pay, through dramatically higher taxes or dramatically reduced government services or both.

~~~~~~~~~~~~~~~~~~~~~~

Originally posted by Travh20
funny thing is, 10 trillion deficit, 10 trillion surplus, no ones life changes.

That’s because the Republicans are in a fantasy world. Which would include you.

The reason no one’s life has changed, is because the Republicans aren’t taking things seriously or facing the problems this deficit has. We are going to have to pay it off sooner or later. We could raise taxes now, and slowly pay it off. Or procrastinate, raise taxes more, at a later period, and pay off a larger debt.

It’s all a matter of time. But as we all know, the Bush Administration doesn’t see it this way. Since they must stay with their republican ideals, they won’t raise taxes. They will just let our deficit grow, until my generation has to pay it off. This just shows how reckless this administration is. Of course no one’s life has changed, because Bush isn’t paying attention to this problem.

Bush won’t raise taxes (which would change many people’s lives) He’s actually doing us a disservice. We could pay it off now, little by little. Or we can wait, and pay it off in huge amounts which would be more devastating to our people. So, I thank you, Mr. Bush.

This is the first wartime situation where we have not raised taxes to pay for our spending…which also points to the idiocy of this Administration.

Originally posted by Overdose
That’s because the Republicans are in a fantasy world. Which would include you.

Agreed, but if you think it's just the Republicans you're nuts. For isntance - the senior citizen drug plan. The cost of the plan was completely appalling, and the Dems said it should've been larger. Yikes. Neither side seems especially willing to cut spending. I don't see a lot of difference between the republican tax cuts + increased spending and the democrats' targeted tax increases and double increased spending.

Which could have been paid for, if we had stopped the tax cuts for the rich.

Besides, I’d be for taxing Americans. We are in war people, we cannot let our debt increase anymore.

Alan Greenspan, yesterday, expressed concern about the weakening dollar which can be attributed to the growing amount of debt that the US is incurring on itself. The market lost 3 digits yesterday as a reaction. That will be a sign of things to come if our budget is not controlled. We will inflict a recession onto ourselves. Where is the Republicans of the early 90s, who pushed for a balanced budget amendment?

Bush MUST MAKE SPENDING CUTS or he will be a complete failure as a president in my eyes. There is no way you can make massive tax cuts and not make spending cuts to supplement.

The Republicans and the Democrats in the early 90's who pushed for balanced budgets only did so because of the Ross Perot scare. At the time the Graham-Rudman Act passed, Ross Perot was at 30% in the polls and climbing. Everyone was scared that if they did nothing he might win. The only way to get politicians to quit spending is to seriously threaten their jobs.

The only way to get politicians to quit spending is to seriously threaten their jobs

I agree, Imagineer.

It would also be nice politicians would stop seeing the American Taxpayer as a milk cow for every single tax and spend thing to come down the pike.