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Considering our huge debt, budget and trade deficits...How long can the game continue? Realistically. Seems like we are not going to change anything or make tough decisions till our country totally collapses economically. Can this keep going for another 20-30-40 years?
I'm scared for our future. To me it seems like we're only a few short years away from hitting some really hard times.
You are apparently operating under the assumption that we (The United States Of America, that is) are "solvent" NOW.
Since there is no way I can see that our government can pay our current debt, I'm afraid the point of no return has already been reached. It is just a matter of time until the sand washes away from the foundation, and the whole shoddy structure collapses!
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
16,255 posts, read 23,732,973 times
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Quote:
Originally Posted by sturmgeist
Considering our huge debt, budget and trade deficits...How long can the game continue? Realistically. Seems like we are not going to change anything or make tough decisions till our country totally collapses economically. Can this keep going for another 20-30-40 years?
I'm scared for our future. To me it seems like we're only a few short years away from hitting some really hard times.
We can stay solvent as long as we have printing presses and China thinking that they are actually going to get paid back!
According to white House budget chief Peter Orszag,
"Deficits in the, let's say, 5 percent of GDP range would lead to rising debt-to-GDP ratios that would ultimately not be sustainable," Orszag told reporters.
How do you compare this to say, the current %..
Worst of all, the budget office says the deficit under Obama's policies would never go below 4 percent of the size of the economy, figures that economists agree are unsustainable
You are apparently operating under the assumption that we (The United States Of America, that is) are "solvent" NOW.
Since there is no way I can see that our government can pay our current debt, I'm afraid the point of no return has already been reached. It is just a matter of time until the sand washes away from the foundation, and the whole shoddy structure collapses!
Well, we are paying all the interest on our debt right now. I just wonder how long until people stop buying our debt, obviously this can't go on forever.
I wonder if a 'democracy' can actually tighten its belt and make tough choices in regards to entitlements, military spending etc. or if it's pretty much impossible for politicians to do with all the lobbyists and voters they are beholden to.
Until this idiot is elected prez., or queen. We will all be free then.
git yer guns ready pard!
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