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Have you bothered reading any economic journals? I don't mean conspiracy theory blogs, but things like the Economist. You'll get better opinions than you will by posting the question on a forum largely filled with right wing nut jobs. Just sayin'.
So....go ahead and attack. Then......point out what in my original post was oh-so off the mark. You are a Lib.....do you believe there is a real SS Trust Fund????
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!
You know folks have been saying doom and gloom for years. When Reagan was in there and ran big deficits, people predicted doom and gloom and we got out them within 10 years and had a surplus. We will be fine. Deficits don't really matter in the larger economy. $20 trillion is chump change to the total economy.
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.
You cannot just "move" to another country like you can another state. You kind of have to ask their permission first.
I can think of quite a few times in american when i certainly woud have beleive the coutnry was goig down the toilewt compoared to now. WWI 'wwII and certainly the great depression. I fact I saw the same attitude form mnay during the 70's recessio and during the veietnam war and for some eyars afterward. America'stime had come and gone was very common comment. I do think we are in a econmic shift as great as the shift from a mostly agricultural economy to a inductrial one. But especaily i energy I think our future looks brighter in coming years than since the 70's. The investment i natural gas recovery as well as in processing snad tar lshell oil makes it likely we will be a net exporter of crude and CNG in coming years. Just lokint at our use of crude shows that we have dropped usage by about 20% from peak and it cintinues and is not expected to increase in the future.Many econmies now like brizil and russia are basiclaly enrgy driven as is obvious in the middle east.China has its probelms in that it is mostly a investment driven econmy. They are actively want to change that now. I think anyone who lived for the 60's thru China startig to rise remmeebr clearly when peopel saw Japan as the escape goat of our problems just as many do China now.I can remmebr when germany was considered a coutnry that would be never unnited much less become the economic forece in western europe.Like they say the future in this country as well as in the world belonsg to those who face the challenges and succeed.That never changes.I stillremember as a kid Kreuchevbeatg his shoes on the table i UN sayig the USSR would bury us.I got to see Reagan tell the russian leader to teardown the Berlin wall and see it actually happen.Hell of a ride threu mnay saying we are throught thru out.
I can think of quite a few times in american when i certainly woud have beleive the coutnry was goig down the toilewt compoared to now. WWI 'wwII and certainly the great depression. I fact I saw the same attitude form mnay during the 70's recessio and during the veietnam war and for some eyars afterward. America'stime had come and gone was very common comment. I do think we are in a econmic shift as great as the shift from a mostly agricultural economy to a inductrial one. But especaily i energy I think our future looks brighter in coming years than since the 70's. The investment i natural gas recovery as well as in processing snad tar lshell oil makes it likely we will be a net exporter of crude and CNG in coming years. Just lokint at our use of crude shows that we have dropped usage by about 20% from peak and it cintinues and is not expected to increase in the future.Many econmies now like brizil and russia are basiclaly enrgy driven as is obvious in the middle east.China has its probelms in that it is mostly a investment driven econmy. They are actively want to change that now. I think anyone who lived for the 60's thru China startig to rise remmeebr clearly when peopel saw Japan as the escape goat of our problems just as many do China now.I can remmebr when germany was considered a coutnry that would be never unnited much less become the economic forece in western europe.Like they say the future in this country as well as in the world belonsg to those who face the challenges and succeed.That never changes.I stillremember as a kid Kreuchevbeatg his shoes on the table i UN sayig the USSR would bury us.I got to see Reagan tell the russian leader to teardown the Berlin wall and see it actually happen.Hell of a ride threu mnay saying we are throught thru out.
Corruption is greater, greed has increased, globalist banking cartels are insatiable.
This country is controlled by criminal entities. The Patriot is dead in D.C. it's every degenerate for themselves.
They will also need to do some belt tightening. All welfare recipients should be expected to do their share of austerity. Fewer food stamps, end the double-dipping welfare programs -- aka food stamps + WIC + free meals at schools and Headstarts.
If taxpayers must pay more of their wages for taxes, food, gas and other living expenses let the welfare class be cut back also.
That would be more of the same then. Over the last 10 years social programs have been cut and taxes on the wealthy reduced. The result has been surpluses turned to deficits. Now, you recommend that the solution is to 'tighten the belts' of those who already had their belts tightened.
Curious = do any of you predicting economic doom over and over ever do anything financially to take advantage of your wisdom?
I've seen people talking about the massive inflation and high interest rates right around the corner for at least four years, did they take positions with their portfolio to take advantage of it, and how'd that work out since they were wrong?
Modeerf was predicting dow 7k by October, then he was again predicting market collapse in December, being wrong over and over how much wealth opportunity did he miss?
Or is it just people with no skin in the game playing expert?
Curious = do any of you predicting economic doom over and over ever do anything financially to take advantage of your wisdom?
I've seen people talking about the massive inflation and high interest rates right around the corner for at least four years, did they take positions with their portfolio to take advantage of it, and how'd that work out since they were wrong?
Modeerf was predicting dow 7k by October, then he was again predicting market collapse in December, being wrong over and over how much wealth opportunity did he miss?
Or is it just people with no skin in the game playing expert?
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