Our (US) Unsustainable Debt

If this article doesn't scare you, then go back to your TV and watch the soaps or sports.

Our Unsustainable Debt - Reason Magazine

 

Dubya is a spendthrift compared to BO!

 

does it matter, think about it guys/gals this has been going on for over 25 years even longer we knew of the potential and said problems back in the 1970's ending the so-called time of luv and frikin Vietnam

 

Well, while the deficit spending can be blamed on Congress (either/and/or both sides of the isle), it's clear that the rate of increase and total of such spending has exceeded all previous records set by either party.

 

Looks like our money is also going to be sent to bail out Greece. When are these STUPID-A$$____S going to quit giving away OUR money?

 

tex there are NO more monies ...................... congress and the present admin know this and are fully aware. the present debt of this nation no matter what party comes aboard the next elections will not be able to correct the mistakes of the past.

sorry to be so dumb-beat down about this but it is truth

 

True Erich. Which makes it even sadder...the folks in Congress have valued what their position could do for their own financial picture rather than do what would be right (and painful for many entitlement receivers) for the nation as a whole.

 

Well, BO has taken care of any balanced budget hopes probably for the next 50 years at least unless we repeal all these government "giveaways". Grant you, W did increase the deficit, but he cant even come close to the madness inflicted on the US by the Democrats and BO.

 

If banking and the banking system are so goddamne vital to the operations of the modern society, why oh #@#$%&* why don't we just remove the private companies and the slime that come with them and nationalize every bank there is?

Far too important a task to be left in the hands of private enterprise. When you and I stuff the issue up, we get canned and find ourselves without a job. These @#$%-heads simply get bailed out by the taxpayer, so they can do it all over again another time.

Leave the banking system out of the hands of private enterprise. We'd all be better off without them. All the real work is done by the taxpayer anyway. Who wants to keep bailing out these fools? I don't.

 

If banks were to go nationlized the problem of bailing them out would be even worse. With them being private they can at least attempt to bail out through the funds that they acquire by citizens paying into it. If you were to nationlize we'd get the excellent prospects of having our withdrawal amounts limited to a certain extent. Nationalized anything is not the way to go it just incures more and more government spending similar to the bonehead health care reform which was so hastily passed through congress.

 

Well, it's fairly obvious that in the hands of private enterprise it's just another excuse for people to sit on their arses at the expense of others.

So, lets just keep bailing these idiots out at our expense?...They might as well be owned by everybody, rather than just a few in suits.

The more I see of the performance of these fools, the more I become a socialist at heart.

Russian Socialism is definately not the way to go, so lets have a go at American Socialism, and pay everyone the same damned wage. What more incentive do people need than to serve others? We would all be better off in the end anyway, rather than just a few living at the expense of others.

Maybe Meatworkers and bakers should start to charge like lawyers and doctors....that would knock these twits off their office chairs for good....

 

Lets hope the average American gun-owner doesn't get cheesed off enough to stage a second 1776.

Banking without accountability is TYRANNY

 

I numbered your response so i could respond to it in an organized manner:

1.) True it can be used as an excuse like you said, but at the same time like any nationlized bureaucratic institution (which the banks would become) there would be increased rigidy in the job market pertaining to the low rate of fire/hire among civil servants. Plus with more civil servants you incure more government spending (look at France, great example of what overwhelming bureaucracies can do to a nation).

2.) That is true the bailing out by us, however, if you were to make it nationlized you'd be doing the same on a much larger scale. For example the united states with its population of over 300 million people, all the debts and failed payments by the thousands (if not millions) of people per year will surely add up, forcing us into even more national debt as we print more money and tax the hell out of the upper to class to make amends.

3.) A flat wage similar to a flat tax would not work, you will have the growth of an extremely large middle class (something that could not be handled by the soviet union, eventually leading to their demise) Also by doing this what incentive would americans have to attain higher marks in school? Essentially saying that no matter how hard you try, you will not acheive anything other than the standard, thus meaning you might as well just give every student a C average and be done with them. This will lead to high rates in drop outs and widespread illiteracy.

4.) They could very well do that. However the problem lies in the fact that if they did unionize to the point where they could make that much money smart business owners would outsource and make monstrous profits.

Overall socialism, communism are failures. Not one country who has adopted these ideals has ever been successful with a high quality of life.

 

It should also be noted that a socialist program is what got us into the recession in the first place. 1977 the community reinvestment act signed as a bill by jimmy carter allowed anyone, regardless of financial background, to receive a loan from the bank in order to put towards a house. Needless to say, this was very stupid. This lead to defaults on payments and the widespread forclosure crisis of the past few years.

 

Just as the democrats do for the unions and social justice....Bwaney Fwank and Fannie mae and freedie mae with the government forcing lending institutions to offer mortgages that should have never been offred if it weren't for the Clinton "Community Reinvestment act" which forced (sorry, to "regulate") the banks.