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What makes you think my generation will die off before we start paying the debt?
As a percentage of GDP, we were in greater debt following WWII. It didn't take two generations to pay it down to reasonable levels, so it's not necessarily true that our current debt will take generations to pay.
But where are we gonna get a boom like the 50s to even contemplate paying it down? Did you see those unfunded liablities that are coming on top of it all? It is absolutely impossible without crashing the currency.
With the number of jobs being lost coupled together with salary decreases. its going to take a long time for the debt to be paid. After all what's the government going to do, tax the hell out of every aspect of our lives?
Absolutely they are. Wait until about 2-3 years from now. If all of 0bama's agendas pass we are in deep SH*T!
With the number of jobs being lost coupled together with salary decreases. its going to take a long time for the debt to be paid. After all what's the government going to do, tax the hell out of every aspect of our lives?
But where are we gonna get a boom like the 50s to even contemplate paying it down? Did you see those unfunded liablities that are coming on top of it all? It is absolutely impossible without crashing the currency.
We Americans are an ingenious bunch. I don't know where the next boom will come from, but I'm confident it will come from somewhere. Funding SS is a problem, and changes will have to be made. I'm confident we'll handle that as well. I guess I'm not as pessimistic as some of you.
We Americans are an ingenious bunch. I don't know where the next boom will come from, but I'm confident it will come from somewhere. Funding SS is a problem, and changes will have to be made. I'm confident we'll handle that as well. I guess I'm not as pessimistic as some of you.
Optimism is great, but it sounds like a long wait for a train that ain't coming.
Looking the other way and/or hoping for the best without taking any action is what is making the problem bigger every day.
What action should I be taking? Why are our current problems worse than any of the other problems we've had over the last two centuries?
maybe it has something to do with a deficit that has never been this high in the country's existence. Maybe it has something to do with printing billions and billions of dollars and have nothing to back it up. May just those 2 things makes things worse than they ever have been.
why are you people worried about the debt? We have had only 2 balanced budgets since WW2 which was in 1969 and in 2000 when Clinton left office. Ever since then we have been in perpetual debt but it seems that ever since Obama became President the debt is now a huge issue.It's funny how I didn't hear about the debt when Bush was in office and spending like a lunatic in Iraq and Afghanistan which makes up $1 trillion of that debt.
What action should I be taking? Why are our current problems worse than any of the other problems we've had over the last two centuries?
This the frustrating part. I guess there really isn't anything individuals can do, apart from load up on food storage and whine on internet forums.
But the problem is worse than before for several reasons. First off, our way of life is clearly unsustainable and will eventually come to an end. I think the recent events are just the begining of that inevitable system breakdown that will slowly happen over the next 20 or so years.
Americans are very dependent on the system to live. In general we need cars to go to work, shop or do just about anything. We can't heat or cool our houses without power and gas/oil, and we would starve to death in weeks if the grocery stores suddenly shut down. The American spirit of independence and innovation has been watered down and almost wiped out by consumerism, robbing lots of people of the tools they need to survive.
Worst of all, we are not accustomed to hardship, so when things get bad, people will panic and overreact. This means general chaos and a heavy-handed response from those who will try to maintain order.
For 150 or so years Americans were independent, mostly self sufficient and expected a hard life. They had the "stuff" to weather their hard times. We don't.
After all what's the government going to do, tax the hell out of every aspect of our lives?
Yep
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