U.S. Heading For Financial Trouble?

Discussion in 'Politics' started by KenH, Mar 3, 2007.

  1. KenH

    KenH
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    It's way past time to start solving the fiscal problems of our federal government.

    U.S. Heading For Financial Trouble?

    March 1, 2007

    (CBS) The U.S. government's top accountant says the law that added a prescription drug benefits to Medicare may be the most financially irresponsible legislation passed since the 1960s.

    - rest at
    www.cbsnews.com/stories/2007/03/01/60minutes/main2528226.shtml

     
  2. Ps104_33

    Ps104_33
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    What politicians won't do to stay in power.
    I am no expert on economics, but even I know that legislation like the minimum wage, free drugs, free this and free that, regulations, price controls, are a disaster to the economy.
     
  3. hillclimber1

    hillclimber1
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    I believe that a total financial collapse will devastate the entire free world, shortly after and mostly because of, the rapture. The most powerful nation in mans history will be brought to her knees before the Messiah's return.
     
  4. Terry_Herrington

    Terry_Herrington
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    You may just find that the "rapture" is a Christian myth.
     
  5. carpro

    carpro
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    If we think this is expensive, wait till we see the potential cost of universal healthcare.

    How can we afford universal healthcare when we can't afford prescription drugs for the elderly?
     
  6. carpro

    carpro
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    Please explain why you think the "rapture" is a myth.:confused:
     
  7. Brother Randall

    Brother Randall
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    Congress has been "charging" it since the 1960s meaning they have spent more than taxes has provided. If any corporation tried the accounting shenanigans they'd be in jail.

    Folks, face it we're heading for a financial collapse. The American dollar has lost approximately 2/3rds it's value in the past 20 year against the Japanese Yen. I just went to England last year and the exchange rate was nearly double!

    Our elected leaders spend money like drunken sailors on shore leave. Spending equates to more dependent constituents which means votes. Additionally, lobbyists are in the back pocket of our elected leaders. Our leaders try to talk tough, but it only equates to token spending cutbacks. They don't have the gumption to make the tough choices to reign in spending.

    Now, go over to the Treasure website and you'll see the debt has been rising each and every year since the 1960's. Ignore the media reports and analyze the data yourself (3rd grade math) and you'll see the TOTAL debt is rising $400+ billion each year. And, nobody seems to care that their stealing the social security excess funds.

    Now, the Democrats are in office. Meaning higher taxes are on the horizon. Another burden to the economy. Housing is already slowing. The stock market took the biggest hit last week since 9/11. Throw in prescription drug plan and that will just spend us faster into bankrupcy....if we're not there already.

    I see recession coming on big next year.
     
  8. StraightAndNarrow

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    I agree. That's because we've had a fiscally irresponsible president and congress for the last 6 years. Wars are very expensive and also inherently inflationary. Problems in the economy don't happen because of what might happen in the future (Democrats taking back the Congress) but rather what has happened (Bush administration).
     
  9. Rufus_1611

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    ..........
     
  10. LadyEagle

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    I do agree that the rapture will be the catalyst. But please save the rapture vs non-rapture debate for another thread so as not to hijack this one.
     
  11. carpro

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    It's hard to tell exactly where we are on this progression but we're somewhere in here:
    * From Abundance to Selfishness
    * From Selfishness to Complacency
    * From Complacency to Apathy
    * From Apathy to Dependency

    It's possible we're accomplishing all 4 at once.
     
  12. KenH

    KenH
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  13. carpro

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    Ron Paul , nor anyone else I know of, will ever be able to convince democrats and many republicans that the social security and medicare systems are broken.

    That debate took place a couple of years ago and they stuck their heads in the sand then and they always will. The only solution democrats ever offer is tax increases and it will take that and much much more to correct the problem.
     
  14. KenH

    KenH
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    The folks in Washington know that there is a fiscal tsunami coming and they will admit it(at least in private). It's just that most of them don't want to take the political heat for actually fixing the problem.

    But eventually the problem will be fixed - one way or another.
     

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