"Running on Empty"

Discussion in 'Free-For-All Archives' started by KenH, Aug 26, 2004.

  1. KenH

    KenH
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    I think it's time to get away from the silliness of the current election and all of the partisan mudslinging and start looking at the future of these United States and have some serious discussions. There are problems that need to be fixed regardless of who is president or which party controls the Congress. And we all must confess that both the Democratic and Republican Parties are responsible for the financial train wreck that threatens to occur in not too many years. Here is a summary of Peter G. Peterson's newest book, Running on Empty – How the Democratic and Republican Parties are Bankrupting Our Future and What Americans Can Do About It -

    www.centrists.org/pages/2004/07/6_guest_budget.html
     
  2. poncho

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    I could not agree with you more Ken! Praise Jesus! [​IMG]
     
  3. KenH

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    Since I haven't read the book yet(but plan to do so), here is a rather lengthy review of it that should generate some conversation among those of us interested in solving our nation's fiscal and budgetary problems -

    www.powells.com/review/2004_07_30.html
     
  4. KenH

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    Since the national debt will increase approximately $600,000,000,000 this fiscal year, to balance the budget without cutting spending would require that taxes be raised on the average household by approximately $6,000, or $500 per month.

    And that is exactly the kind of draconian measures, and even worse, that will be required on either the spending and/or the tax side if we don't start dealing with our national fiscal problems right away. The longer we put off starting, the higher the degree of pain will we suffer as a nation.
     
  5. KenH

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  6. poncho

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    Ken without reading the links you provide, sorry time doesn't permit that tonight. I would like to ask one question.

    What if anything was used as collateral on this huge debt? I mean in a debt based economy there has to be something worth while that has been used to secure all the loans.
     
  7. KenH

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    The "full faith and credit" of these United States of America.
     
  8. Bro Tony

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    I don't know about you guys, but that really makes me rest easier. :rolleyes:

    Bro Tony
     
  9. KenH

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    I hear ya, Bro Tony, I hear ya.
     
  10. poncho

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  11. Jeff Weaver

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    Poncho

    Note the date, and the signature on the order, it was George H. W. Bush. Bill Clinton didnot assume office until January 20, 1993.
     
  12. poncho

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    Thats right, now have a look at his executive orders. I would link them here for you but I have to get some other things done.

    Just do a search in google.
     
  13. KenH

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  14. SpiritualMadMan

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    Ken,

    While you may have a point...

    Right now we are in survival mode...

    We need to make sure that something as bad for our country as kerry doesn't get elected either by direct votes or through the syphoning of votes off by third party candidates...

    Look, in four years there is going to be another election... I will*NOT* vote for Cheney. (assuming he survives his heart condition and runs) PERIOD!

    So, I personally feel that it would take four full years of preparatiion and campainging to get a viable and winnable third party candidate recognized enough to be elected...

    As much as I want a *real* choice this year...

    I am more scared of kerry's potential damage to our military than Bush... That's something I, personally, am not willing to risk.

    Now if we start having nation wide Baptist Revivalist Pray meetings where God's Power Starts Falling...

    I will reconsider... But, until then, the patriot in me *requires* a strong defense for my second home...
     
  15. KenH

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    This thread has absolutely nothing to do with who should be president. Peter G. Peterson is a Republican and I imagine he will vote for George W. Bush. As for me, I'm through with discussing this election on this board.

    This thread has everything to do with understanding and discussing solutions to the fiscal problems which will destroy this country economically if we don't get a handle on them.
     
  16. KenH

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    More information about this -

    Age to strain U.S. finances-Greenspan
    Fed chief says quick fix for social safety net programs vital to avoid more painful steps later.
    August 27, 2004: 10:07 AM EDT

    JACKSON HOLE, Wyo. (Reuters) - Rising pressure on U.S. finances from an aging population make it vital to quickly fix the social safety net with such steps as raising the age for full retirement benefits, Federal Reserve Chairman Alan Greenspan said Friday.

    "If we have promised more than our economy has the ability to deliver to retirees without unduly diminishing real income gains of workers, as I fear we may have, we must recalibrate our public programs so that pending retirees have time to adjust through other channels," Greenspan said in prepared remarks at an annual symposium.

    "If we delay, the adjustments could be abrupt and painful," he added.

    Greenspan said raising payroll taxes to fund shortfalls in Social Security and Medicare might only worsen the situation by imposing an extra burden on those working but that altering policy to encourage a longer working life for Americans would be helpful.

    - SOURCE
     
  17. poncho

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    I tend to feel the money problems we have today is because we have an animal we jus can't afford to feed any longer, the federal government.

    It's been growing and growing and every time it grows we pay or we're forced into more debt. The original intent of the federal government was to be small and streamlined, so how is it we have this huge monster now?

    You can blame it on one party or the other if you want to but we all should know by now that both are just as guilty.

    To many promises have been made and broken. To many mistakes have been made by a federal government so huge that to expect anything than other than mistakes from it is just plain crazy to my way of thinking.

    Lately, the last twenty or thirty years it seems to me that government mistakes, then excuses leads to more funding, which leads to more mistakes, more excuses, and more funding. Rarely if ever is anyone held accountable for those mistakes even though we spend countless dollars on hearings and commissions and appointing this office or creating that office to investigate the other office.

    You can bet your ever shrinking weekly paycheck that we'll all see the biggest and best investigations that our money can buy and that the only outcome will be the need for more funding, more expansion and more gvernmental control over our lives.

    It's really is starting to look as though the government profits alot more from it's own mistakes than anything else, and the bad news for us is that those mistakes seem to be getting bigger all the time.
     
  18. KenH

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  19. KenH

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    Here is the first portion of an article by Peter G. Peterson published last month:

    Where Are the Business Patriots?
    CEOs Need to Be Statesmen Again
    By Peter G. Peterson

    Sunday, July 18, 2004; Page B01


    Recently, David Wessel, a Wall Street Journal columnist, asked me a daunting question -- indeed, a haunting question: Where have all the corporate statesmen gone?

    He noted in particular the unprecedented silence of the Business Roundtable about the ever-widening deficits -- in government spending and U.S. trade -- that pose a major threat to both capital formation and economic performance over the next several decades. In serious discussions of national policy, this issue is like an elephant in the boudoir: You need to shut your eyes tightly to avoid noticing it. So why, Wessel asked, aren't we business leaders speaking out? And if we don't do so out of genuine civic concern, shouldn't we at least do so out of collective self-interest?

    One might reasonably wonder, of course, whether Wessel was engaging in economic romanticism. Some might wonder if there ever were that many corporate statesmen. I started wondering myself: How many have I known or known about in my 50-plus years in business? The answer is quite a few -- but, lamentably, fewer and fewer as time goes by.


    - rest at www.washingtonpost.com/ac2/wp-dyn/A56851-2004Jul17?language=printer
     
  20. The Galatian

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    Hey, Bush says deficits are no big deal. A record number of people below the poverty level and without health insurance? No problem.

    Other nations moving ahead of us? "Apres moi, le deluge."

    He and his friends will be O.K. Kerry will be O.K.

    Guess who won't be O.K.?
     

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