My post from a month ago
Peter T.
location: New Hampshire
listening to: Too much of everything!
registered: 1999.05.20
posts: 3016
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GM,I posted this a month ago, perhaps you missed it. No one here has posted more about our fiscal house of cards than I have. I don't think anyone responded to the questions that I posed in the final paragraph. Do you care to? Peter T.My prior post: http://www.usdebtclock.org/
First take a gander at the various expenditure clocks. You'll be dazzled a bit, but focus on the really big numbers, I know, they are all big!We're soon approaching $12 trillion on the national debt, and how about that $300 billion annual payment for the interest we pay on it! I shouldn't even mention the unfunded US liabilities ($105 trillion or so, but who really knows)? It's down towards the bottom of the web page(if you dare).And I realize that in a recession the government has to step up in a big way when it comes to spending, but at some point, and I'm not sure when, the spigot will have to be turned down and the pain spread around. Will the president really level with the public? And if so, would this not be political suicide? Medicare/Medicaid, SS, and defense have to take hits, and taxes will have to rise. We can't grow ourselves out of this mountain of debt. And I know the goal is to gradually eat away at it as it ain't going away this decade or the next or the... So, it begs the question, what are you willing to give up in the way of services? How many more percentage points in income tax will you accept? Or is it simply too late for a solution?Peter T.
Peter T.
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GM,I posted this a month ago, perhaps you missed it. No one here has posted more about our fiscal house of cards than I have. I don't think anyone responded to the questions that I posed in the final paragraph. Do you care to? Peter T.My prior post: http://www.usdebtclock.org/
First take a gander at the various expenditure clocks. You'll be dazzled a bit, but focus on the really big numbers, I know, they are all big!We're soon approaching $12 trillion on the national debt, and how about that $300 billion annual payment for the interest we pay on it! I shouldn't even mention the unfunded US liabilities ($105 trillion or so, but who really knows)? It's down towards the bottom of the web page(if you dare).And I realize that in a recession the government has to step up in a big way when it comes to spending, but at some point, and I'm not sure when, the spigot will have to be turned down and the pain spread around. Will the president really level with the public? And if so, would this not be political suicide? Medicare/Medicaid, SS, and defense have to take hits, and taxes will have to rise. We can't grow ourselves out of this mountain of debt. And I know the goal is to gradually eat away at it as it ain't going away this decade or the next or the... So, it begs the question, what are you willing to give up in the way of services? How many more percentage points in income tax will you accept? Or is it simply too late for a solution?Peter T.
