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Old 10-17-2012, 11:43 AM
 
Location: Portland, OR
8,803 posts, read 7,585,867 times
Reputation: 4501

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And slash the deficit in half. It will be painful in the short term, but I believe it is what is needed for the long term survival of our country. Once we hit $20 trillion in debt, it becomes obvious that the only way to pay our debt is through monetizing it with the printing presses at the Fed, and I believe that our external creditors will quit buying at that point. Eventually, it'll just be the Fed buying them which is a total ponzi scheme.

We'll come out of this stronger than ever, but basically 2011-2020 is a lost decade, but I think we all knew that regardless of fiscal cliff.
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Old 10-17-2012, 12:07 PM
 
2,085 posts, read 1,371,514 times
Reputation: 1401
Quote:
Originally Posted by VTHokieFan View Post
And slash the deficit in half. It will be painful in the short term, but I believe it is what is needed for the long term survival of our country. Once we hit $20 trillion in debt, it becomes obvious that the only way to pay our debt is through monetizing it with the printing presses at the Fed, and I believe that our external creditors will quit buying at that point. Eventually, it'll just be the Fed buying them which is a total ponzi scheme.

We'll come out of this stronger than ever, but basically 2011-2020 is a lost decade, but I think we all knew that regardless of fiscal cliff.
I think that most people are blissfully unaware of how bad our financial situation is. You can tell them our debt is $16 trillion dollars and that we're adding another trillion every year, but I don't think they either care or can comprehend why this is such a bad thing.

Not until we're confronted with a crisis that directly and personally effects everyone's well-being, will average people finally make the choices necessary to right the ship. Sadly, we would rather kick the can down the road and deal with a future disaster rather than make changes now and put up with a little discomfort.
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Old 10-17-2012, 12:17 PM
 
Location: In a Galaxy far, far away called Germany
4,284 posts, read 3,736,201 times
Reputation: 2333
We don't even have to go that extreme. We need to revamp Social Security, Medicaid/Medicare, reform our tax codes, scale back our military to serve the Republic (and not the empire) AND make it constitutionally binding to balance the budget.
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Old 10-17-2012, 12:46 PM
 
Location: Fredericksburg, Va
5,188 posts, read 13,370,726 times
Reputation: 7369
And, while you're ammending the Constitution to balance the budget, write in a law that says if Congress goes over a percentage of GDP, they CANNOT stay in office, whether they're up for election or not.....that would do it. These Congresspeople don't care about our money and spend it recklessly and for all the wrong purposes. If we held their feet to the fire, they would be more consciencious!
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Old 10-17-2012, 12:53 PM
 
881 posts, read 605,266 times
Reputation: 376
Quote:
Originally Posted by VTHokieFan View Post
And slash the deficit in half. It will be painful in the short term, but I believe it is what is needed for the long term survival of our country. Once we hit $20 trillion in debt, it becomes obvious that the only way to pay our debt is through monetizing it with the printing presses at the Fed, and I believe that our external creditors will quit buying at that point. Eventually, it'll just be the Fed buying them which is a total ponzi scheme.

We'll come out of this stronger than ever, but basically 2011-2020 is a lost decade, but I think we all knew that regardless of fiscal cliff.
Why write off an entire decade, when this can be prevented? We do not have to throw in the towel just yet. First things first. Throw out the big spender.
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Old 10-17-2012, 12:57 PM
 
Location: Portland, OR
8,803 posts, read 7,585,867 times
Reputation: 4501
Quote:
Originally Posted by Bulldawg82 View Post
We don't even have to go that extreme. We need to revamp Social Security, Medicaid/Medicare, reform our tax codes, scale back our military to serve the Republic (and not the empire) AND make it constitutionally binding to balance the budget.
We do have to go that extreme I'm afraid because nothing that you mentioned will get done individually in the current political climate.
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Old 10-18-2012, 05:57 AM
 
Location: Fredericktown,Ohio
6,953 posts, read 4,425,908 times
Reputation: 2764
I see a slither of hope but unfortunately it rides on taking Mittens at his word but with all of his flip flopping who knows what he believes. But during the 1st debate when talking about Simpson/Bowles Mittens told Obama " "you should have ran with it".

That is what it is going to take to avoid the fiscal cliff is some tough medicine but we need to start right now.
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Old 10-18-2012, 06:04 AM
 
Location: Great State of Texas
86,093 posts, read 72,556,082 times
Reputation: 27566
Quote:
Originally Posted by Bulldawg82 View Post
We don't even have to go that extreme. We need to revamp Social Security, Medicaid/Medicare, reform our tax codes, scale back our military to serve the Republic (and not the empire) AND make it constitutionally binding to balance the budget.
The point is that what we should do is not happening. Going over the fiscal cliff will force the hand of Congress.
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Old 10-18-2012, 06:14 AM
 
Location: Charlotte
12,646 posts, read 13,922,853 times
Reputation: 1679
Quote:
Originally Posted by VTHokieFan View Post
And slash the deficit in half. It will be painful in the short term, but I believe it is what is needed for the long term survival of our country. Once we hit $20 trillion in debt, it becomes obvious that the only way to pay our debt is through monetizing it with the printing presses at the Fed, and I believe that our external creditors will quit buying at that point. Eventually, it'll just be the Fed buying them which is a total ponzi scheme.

We'll come out of this stronger than ever, but basically 2011-2020 is a lost decade, but I think we all knew that regardless of fiscal cliff.
You're in luck. The Tea Party's steering the boat the Republican's and Dem's built. Cliff up ahead.
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Old 10-18-2012, 06:39 AM
 
Location: Sango, TN
24,889 posts, read 21,075,755 times
Reputation: 8620
Not enough defense cuts, in my opinion.
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