all this agreement leads us to the question, where do we reduce spending. i have some ideas: 1. no more prisons or cops wasting time with drug offenders. 2. no more department of energy, no more FDA, no more department of agriculture. 3. no more social security. thats a good start.
Jeezus. If we could cut all of that spending out... We'd be in a great place. America hasn't been able to grow as fast as a lot of countries economically recently, but with these cuts we could not only be the economic super power, but we'd leave everybody else in the dust. They wouldn't even be able to match our growth, much less begin to catch up to us.
The US government, off interest alone from the US Treasury, pays the interest to those bondholders. There is no $350 billion check each year. Go look at the stats for every industrialized nation. I'll bet all have a debt to GDP ratio of somewhere over 15%. It's how things work.....as long as tax dollars come in. I'll trust an economist, Greenspan is a politician. If you don't think he is, then you need to find me a photocopy of this $350 billion check.
$9 trillion means nothing. It's the percentage of GDP that matters. It could be quadtrillion zillion.......Oh my Lord, we owe quad zillion trillion. It's the percentage. All nations hold a lot of debt. It never gets paid off......the balanced budget is a figment on ones imagination. Like Santa.
I know the Bush tax cuts certainly did not benefit me. I paid more taxes this year than last, and the increase in my adjusted income was not that big.
Excessive debt is the key.....what is that figure though? This dreaded debt has been rising for 50 years and isn't stopping. The markets are growing, interest rates are a good level to keep inflation low, unemployment at record lows..........what is that figure? The media loves to write these doom and gloom articles on the debt but it really effects people in no way. All I want is low taxes and the government to get out of my way.
As I said earlier, percentage of GDP is actually quite irrelevent. No nation holds near as much debt as us. A balanced budget is possible & even realistic with a Libertarian run government (with very little spending), but not necessary.
We aren't that bad right now, but we do need to spend less. You don't see me here talking doom & gloom. Markets are growing not due to excessive debt, but in spite of it. We could be growing faster with a more reasonable amount of debt. Interest rates supressed by debt will help keep inflation relatively in check, but at a cost to personal investors. As I was talking about in another thread, I'm not sure to what extent the government creating jobs through all their actions is good for the economy. Unemployment is low, but I think it could be slightly higher yet with a more efficient economy and maybe we'd be better off.
Give up Parso. LC and martin have no comprehension of balance between national requirements and personal preferences. They once complained about "tax and spend" democrats, but these irresponsible neo-con republicans have become "cut income and spend even more" types. They are spending money that doesn't exist and now they are trying to tell us that, budget deficits, crushing national debt, and its wasteful interest payments are a good thing. They live with Alice in Wonderland.
