Chuck Schumer: We Think Nation Is In GREAT SHAPE

Discussion in 'Politics & Religion' started by pspr, Jan 25, 2012.

  1. pspr

    pspr

    This goes right along with Beckel's claim that the National Debt is meaningless. I don't know what the Democrats are smoking but they need to pass it around to the rest of us.

    <iframe width="420" height="315" src="http://www.youtube.com/embed/HuSTK49uZD4" frameborder="0" allowfullscreen></iframe>
     
  2. Yep, heard that. Gotta say, sorry, not so great shape Mr. Schumer. Not grave IMO either, but certainly not great.

    I think the right is trying pretty hard to paint an even more dismal picture than the rest of might. And, I think most of the left knows that things aren't great either, but the more we hear about how bad things are, the more people tend to stop spending, stop working so hard, and actually start giving up. Not that just thinking things are better is going to make changes, but negative over reactions certainly don't help either.



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  3. pspr

    pspr

    C, we are racing toward a cliff. And, this grim fact doesn't even take into account that the national debt is sucking the life out of the economy. If interest rates were at 10% every dime of tax revenue would be required just to service the existing national debt.

    <img src="http://www.heritage.org/budgetchartbook/charts/2011/entitlements-historical-tax-levels-600.jpg">
     
  4. Ricter

    Ricter

    Well said. Did you read the second essay I linked to, in the "America is Doomed" thread?
     
  5. With all due respect, I am not sure that anything with Obamacare mentioned in their analysis is purely objective. I'm not saying that it cannot be accurate, but I have to question it a bit.

    Much like others question anything posted from the Huffpost or similar.

    And, also, projections out 30+ years are rarely accurate. Most 2 year projections aren't valid either.


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  6. pspr

    pspr

    The data source is the Congressional Budget Office. You can see the trend, can't you? I suspect the entitlement growth will wind up be more exponential than linear. True, government projections are rarely accurate. Usually costs end up being much, much higher than projected.

     
  7. I just did, and I see a lot in both posts there. I've been accused of being a Kumbaya type, well, whatever. Being a pure pessimist has a snowball effect in all walks of life and in the economy. Just last year I was able to get in on a couple of foreclosures in my own neighborhood. Now, where we had a dozen for sale signs in my small neighborhood, we have 2. Others see that there is something good going on.

    Not so much of Paying it Forward, or blind optimism, but just stop all the negative thinking before it spirals out of control. That's how I feel.


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  8. The CBO put Obamacare in their chart? Not really?



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  9. Ricter

    Ricter

    You're a fast reader, that's a long essay.
     
  10. I had scanned it earlier, sorry. And I did read it more closely. Even though we're having a pretty good trading day, still a bit slow.


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    #10     Jan 25, 2012