For sure, point still stands though. The average American that gets into these discussions wants to talk about things like the Dept of Education or money we send to like Israel, and cool whatever, but for spending purposes that is like a fraction of a percent. The poster I replied to said, "Don't touch social security..." That is the average voter's opinion and it takes off the board almost 1/4 of what the government spends. Add health and Medicare to that and you are over 40%. They will have to be addressed.
How are we not doomed? Because we can default and no one can force us to pay?
- Thread starter BradStevens
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Now do it by who controlled the House. Presidents can’t spend a dime that isn’t authorized and appropriated by Congress. The House in particular must do this.
We need to tie Congressional future taxes to spending as a % of GDP. If Congressmen want to continue spending for political points, their personal tax rate should increase significantly.
I know that isn't practical, but I do believe it would help.
Again, I ask: what's the end game here?
Do we just bury our heads in the sand and act as if this isn't happening? Keep spending until we can't anymore and then figure it out? Keep spending and not pay anyone?
I feel like this is like that movie about the scientists trying to explain an asteroid is going to hit Earth and no one pays attention. Unlike a natural disaster, though--like climate change, maybe--there is no doubt about the facts of what is occurring.
This is another reason why you are not on the Dream Team. You’re a man of fine tastes and likes. Dream Teamers are basically wild animals. We‘ll sniff and drink about anything.
My personal opinion is they’ll keep spending and end up inflating away the debt. This is the main reason why I buy Bitcoin and am so confident in it.
The only other solution I see is letting in 10s of millions of working age people and hope innovation bails us out…aka grow are way out it. They’re currently trying this in my opinion, but it’s pissing off a large swath of Democrat voters for obvious reasons.
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How about just lifted and returned to prior glory?
I think we'll spend until we default and then will try to spend more. the real threat will be if another great power has its shit together enough at that time to take our place. blessed as the US is with geography for capital generation and power projection. I think we'll retain that title for awhile. we'll just be the best of many bad bets. then a significant war will happen which will allow for a partial rebalancing of debt. we'll likely see massive GDP growth and foreign investment during and after that war, assuming it doesn't take place here. that will put us in a position to repeat the cycle until our next civil war allows another country to implement their world order.
that or I'm just suffering from the Sunday Scaries right now.
Fiscal Data Explains Federal Spending
Check out @FiscalService Fiscal Data’s new federal spending page! #FederalSpendingfiscaldata.treasury.gov
Social Security (22%), National Defense (14%), Health (14%) , Net Interest (13%), Medicare (12%), and Income Security (9%) account for 84% of the budget. Add in Veterans benefits and you are at 88%.
Something has to happen with Social Security, Health, and National Defense. Those 3 things are half the budget.
I think a balanced budget type of amendment that forces people to actually pay for what government spends is the only way you see it ever get addressed. People will kick the can until it is a crisis otherwise.
Craze, agree with your post except to say people love low taxes and high spending.
Pols from both parties, who should know better, kick the can down the alley because they think only about the short run. The short run being the next election.
I don’t understand any of it. 34 trillion is somehow more untenable than 20 trillion. 45 trillion will cause the apocalypse?
No shit. How many precipices have we reached? I've been hearing about the impending "breaking point" for 40 years.
Goldwater wrote "The Coming Break Point" in the late 60's. It is like" Waiting for Goodoe".
I don't think the debt really truly matters. It's all imaginary, anyway.
That said, if I'm wrong, we're screwed, so maybe it would be smart to tighten things up a bit.
No doubt all of Congress bears this responsibility; both 'sides' of the same coin.
A warning shot THROUGH the bow (not across but through) of the swampers might bring some hounds to heel. What shot? Close the Department of Education, fire every employee of that department giving them their salary as is now until age 65 then whatever pension right they have but if they take any job of any kind they get shut off forever. Sell every building DOE uses. Reduce the salary for members of Congress to an amount equal to the average salary of the President of the Kiwanis and Sertoma in the largest city in their district. No expenses covered.
Balancing budgets is hard work and calls for setting priorities. Tasks which pols should but cannot handle.
Runaway budgeting adds to the distrust of government and contributes to losing faith in our system of governing. So called liberals should be the first to want government and its budget process to be viewed favorably by the body politic.
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