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This is going to extremely difficult as it would require massive cuts in entitlements, at the same time government receipts are declining. I am not saying it would not be a good thing, it would, I just do not see the politicians having the integrity to do it.
This is going to extremely difficult as it would require massive cuts in entitlements, at the same time government receipts are declining. I am not saying it would not be a good thing, it would, I just do not see the politicians having the integrity to do it.
How in the world is Obama going to promise to "halve" the debt and also keep Bush's tax cuts and spend like there is no tomorrow on social programs, protecting government pension plans plus extending the unemployment benefits... plus all the other things he still wants to do... I am really curious what is he going to do? To me that's an impossibility... I wonder what he is thinking... ain't no way they are going to pass the Carbon tax or increase taxes on the middle class... what is up his sleeves or is he just grandstanding? (easier to say, harder to do?)
This austerity stuff should be relabeled "Bend over and give all your money to the international banking system", that is all it amounts to.
Hopefully the US gets its house in order before we have to deal with anything even remotely close to that. Because when the bond market yields hit the fan, we're going to feel it very quickly.
Hopefully the US gets its house in order before we have to deal with anything even remotely close to that. Because when the bond market yields hit the fan, we're going to feel it very quickly.
The US has nothing to worry about, unlike Greece it has its own currency.
Oh yes..."when the bond market yields hit the fan". I'm sure at some point in the future US bond yields will go above historic norms, but there is no reason to believe that is going to be any time soon.
Hopefully the US gets its house in order before we have to deal with anything even remotely close to that. Because when the bond market yields hit the fan, we're going to feel it very quickly.
I hope we do, too. But it's not looking too good. Most Americans think somebody else (besides themselves) should pay more taxes or take cuts in services/benefits.
Um, yeah, and they had riots over it. That's what we have to look forward to, unfortunately. And nobody is going to bail us out, either.
You gotta pull the bandaid off sometime
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