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1. Google the term "20 Trillion by 2016" and you will pull up many reliable sites that put this estimate (20-22 trillion by the end of 2016) in their prediction. This point is very close to being a point of no financial return for this country.
2. Social Security will regularly be taking in less than it pays out. The SS trust fund is filled with no saleable assets.
3. Medicare/Medicaid costs will just keep going through the roof. As more and more advanced tests come on line and lifespan goes up, well, this is going to be one entitlement that will gobble up a huge portion of the budget. Oh yeah, there is also NO SALEABLE ASSETS in the Medicare Trust fund.
4. We must keep borrowing........but, the cost of borrowing is going to go up. More and more of the Federal dollars will go to servicing the debt.
5. Even the Democrats are now into globetrotting and babysitting the world, this is very, very costly.
6. To gauge how bleak the picture is, the Republicans are not even talking about balancing the budget (not much at least), the best they can spew is a reduction in the year over year deficit..........lol about the fricken national debt.
DOES ANYBODY SEE A POSSIBLE TURNAROUND FROM FINANCIAL DISASTER????? I DO NOT!
the federal reserve, under bernanke and obama leadership, have done a lot of damage to not only our country-but to world economies. i cannot emphasize that enough.
the unintended consequences of his actions (or intended, who knows) will be felt worldwide.
in a follow up, he was certainly right about that:
Andy Xie follows up on his earlier Op-Ed that describes how the Fed is implicitly funding the stimulus in places like China. In a simplified version of the article, he talks to Bloomberg's Betty Liu, recapping the key issues."When the Fed prints money it is just creating inflation in emerging economies. But when the inflation in the EM gets high enough, it will bounce back, it will become inflation in the US." As to why EM countries would be unable to manage their inflation, Xie says that most emerging economies are focused more on holding down their currencies, as they see "global demand as relatively weak", seeking more than anything to keep their exports competitive. "That force is allowing them to allow all the money to come in and become inflation." And unfortunately Andy does not think unemployment is going lower any time soon, attacking the very core of the Fed's dual mandate: "I don't think high unemployment is a panacea for keeping inflation down."
bingo! we have inflation and high unemployment here now.
All American taxpayers are now officially slaves to this debt.
Don't pay your taxes, school loans etc. and our masters will send a swat team to pay you a visit.
All American taxpayers are now officially slaves to this debt.
Don't pay your taxes, school loans etc. and our masters will send a swat team to pay you a visit.
There's the option to leave the US and take your money with you. You could live well in many countries with just your savings and not have to deal with debt.
6. To gauge how bleak the picture is, the Republicans are not even talking about balancing the budget (not much at least), the best they can spew is a reduction in the year over year deficit..........lol about the fricken national debt.
DOES ANYBODY SEE A POSSIBLE TURNAROUND FROM FINANCIAL DISASTER????? I DO NOT!
The republicans don't give a damn about balancing the budget, and Obama would rather cave to them, than stand up for what's right to balance the budget.
It can be done, but we're very close to the point of no return. The country needs sane financial tax rates and controlled spending like we saw during the Clinton administration. We need to support independents like Sanders, libertarians like Paul, and the democrats throughout congress to lay the hammer down on the far right that are destroying this country with their outrageous spending and handouts to big oil, the rich, and corporations that we absolutely can not afford.
There's the option to leave the US and take your money with you. You could live well in many countries with just your savings and not have to deal with debt.
other countries are smart enough to control their borders.
1. Google the term "20 Trillion by 2016" and you will pull up many reliable sites that put this estimate (20-22 trillion by the end of 2016) in their prediction. This point is very close to being a point of no financial return for this country.
2. Social Security will regularly be taking in less than it pays out. The SS trust fund is filled with no saleable assets.
3. Medicare/Medicaid costs will just keep going through the roof. As more and more advanced tests come on line and lifespan goes up, well, this is going to be one entitlement that will gobble up a huge portion of the budget. Oh yeah, there is also NO SALEABLE ASSETS in the Medicare Trust fund.
4. We must keep borrowing........but, the cost of borrowing is going to go up. More and more of the Federal dollars will go to servicing the debt.
5. Even the Democrats are now into globetrotting and babysitting the world, this is very, very costly.
6. To gauge how bleak the picture is, the Republicans are not even talking about balancing the budget (not much at least), the best they can spew is a reduction in the year over year deficit..........lol about the fricken national debt.
DOES ANYBODY SEE A POSSIBLE TURNAROUND FROM FINANCIAL DISASTER????? I DO NOT!
No, we are not.
Last year I saw a report that summed up where we are at.
China, I assume, you think is in better shape than we are. Our housing markets GDP alone is 8 times bigger then China's entire economy. Even if the housing market continues to fall at the same rate it is now, and Chinas economy continued to grow at the rate it was, it would take 30 years to surpass our housing markets GDP.
The united states is fine.
With the right fiscal policies in place to curb spending, markets will rebound, unemployment will go down, and the global economy will go about its merry way.
Whats causing us to continue our stall is that some of our lawmakers won't compromise, its their way or the highway. That hurts the American economy.
I'll leave it up to the reader to decide who they think isn't willing to bargain.
The republicans don't give a damn about balancing the budget, and Obama would rather cave to them, than stand up for what's right to balance the budget.
It can be done, but we're very close to the point of no return. The country needs sane financial tax rates and controlled spending like we saw during the Clinton administration. We need to support independents like Sanders, libertarians like Paul, and the democrats throughout congress to lay the hammer down on the far right that are destroying this country with their outrageous spending and handouts to big oil, the rich, and corporations that we absolutely can not afford.
do you not see the connection between obama and the federal reserve?
they are DELIBERATELY damaging our currency and our employment, on purpose.
we don't need more of that, and there is no comparison between obama and ron paul.
Last year I saw a report that summed up where we are at.
China, I assume, you think is in better shape than we are. Our housing markets GDP alone is 8 times bigger then China's entire economy. Even if the housing market continues to fall at the same rate it is now, and Chinas economy continued to grow at the rate it was, it would take 30 years to surpass our housing markets GDP.
The united states is fine.
With the right fiscal policies in place to curb spending, markets will rebound, unemployment will go down, and the global economy will go about its merry way.
Whats causing us to continue our stall is that some of our lawmakers won't compromise, its their way or the highway. That hurts the American economy.
I'll leave it up to the reader to decide who they think isn't willing to bargain.
i guess you didn't bother reading the articles. both china and the US are in trouble because of irresponsible fiscal policy created by the federal reserve AGAINST THE WILL OF THE AMERICAN PEOPLE.
i'll leave it to the reader to decide who supports the federal reserve policy.
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