Financial day of reckoning drawing nearer?

Discussion in 'Economics' started by endsongs, Dec 16, 2009.

  1. The fact the the 290B increase in the federal credit card balance limit only passed the house by 2 votes shows that federal budget gridlock is pretty close. The republicans only need a few more votes to force a serious discussion on the budget. It amazes me how when there is a repub president, the dems always vote for raising the cap. But, when there is a dem prez, repubs always demand the budget deficit be reduced.

    Perhaps a dem president with a strong number of repubs in congress is best in terms of putting the finances in order.

    This also means repub presidents can spend and cut taxes as much as they want as the dems don't demand a reduced deficit, while the dem presidents aren't able to use deficit spending as much to implement their wishes, historically.
  2. The PROVEN dysfunctional "Left - Right two party paradigm" has evolved into a cesspool of directed unconstitutional destruction. The entangled corruption and manipulated activities of the two FAILED parties are specifically designed to keep sucking you back in for more. Just like a sickened abused wife, most American people keep going back into the arms of the two party system hoping to one day find real love.......only to get more abuse and more permanent wounds.

    The ONLY way out is to break free to independence or to continue accepting the abuse as your norm until dead......YOUR choice!
  3. ammo


    there used to be a beleif that the repubs catered to biz, and dems to the people,now they are both just stealing as much as they can carry out before the walls come tumbling down
  4. pupu



    They'll just keep tossing the hot potato around.
    This might take a while
  5. Keep in mind we can't even pay interest on the debt without raising the debt ceiling. The repubs are fighting the ceiling being raised now, but as soon as the next repub president is elected, they will call for cutting taxes and raising spending to their donors' interests. The dems, as always, will support any ceiling increase.

    The only way to permanently keep the finances in order is to institute a permanent paygo rule of some sort, after cutting the deficit. This way, the paygo rules won't expire for the next president. I believe paygo expired near the end of Clinton's term, which let Bush double the debt.
  6. the1


  7. the1


    We could chug along for another 50 or so years. Rome and Great Britain didn't collapse in a year. It took many decades in both cases. The US has definitely peaked and a downward trend has begun but it will take some time. Wars and unfunded liabilities are going to take their toll. The government realizes this and I believe this is the reason they are moving so aggressively to take over health care. They absolutely have to limit the amount of money people can spend on health care. Oddly enough, there isn't a single mention from the government about eating right and exercising.

    Changing the American culture from a twinkie eating, potato frying nation to a celery crunching, weight pumping nation absolutely is where the solution lies for fixing what ails this country. Japan has one of the most efficient national health care programs in the world and one of the reasons stems from the Japanese way of life. They just don't consume junk the way Americans do.

  8. Japanese are definitely healthier, but have you checked their economic ills lately?

    America is a single country, not an empire like Rome or Britain were. There is no periphery of countries 1000's of miles away to slowly slip away while the capital territory is somewhat isolated. Look at how quickly the USSR fell, too. Also, I'm talking more about financial and not national reckoning. Plenty of nations with deep financial issues weathered the storm. See Germany post weimar as an example. The financial reckoning is that the elected gov't MUST cut spending and raise taxes drastically, and possibly sacrifice re-election, to save this country's future. This has to be done soon, within a year or two, before the next financial crisis or recession hits.
  9. logikos


    We've been in decline for at least four decades, but it has been masked by pseudo-wealth.
  10. Lethn


    Pew pew to government I say! pew pew!
    #10     Dec 18, 2009