IMF Warns WH and Congress Over USA Federal Deficits

[WVNomad]

Originally Posted by TMSRetired

But the bulk of our spending is on war supplies for other countries and social services for illegals.

Patently false.

[Igor Blevin]

As if anything the IMF has to say will matter. We are going to see debt spending until eventual financial collapse. Our politicians are not going to change a thing.

Meanwhile, a lot of boomers will begin collecting social security in the next 10 years. That is going to make the financial picture even worse.

We are so doomed.

[Igor Blevin]

Originally Posted by rjshae

The biggest items in the federal budget are SS and healthcare. Together they are significantly larger than defense spending and discretionary budgets. You can take a huge chunk out of that by raising the retirement age and economically fixing the national healthcare system.

You can't take any chunk out of that by raising the retirement age for Social Security, since it can't be done on those currently collecting or those soon to collect. That is a long-term solution, not one that can have an impact any time soon.

Healthcare? What are you talking about? They want to nationalize healthcare, which would only cause higher annual budget deficits. In what way can you "fix" national healthcare that will reduce federal budget deficits. I am thoroughly confused by that suggestion.