Glenn Beck interviewed Dave Walker, head of the GAO about the USA's pending bankruptcy. Glenn Beck - The Real Story, Touching the Third Rail
You just realized that? Everyone knows already lol that war in IRAQ is killing the economy. This is my first post in the politics section lol. - Prilep
The war in Iraq is a flea on the back of a dog compared to the entitlement problem. Watch the video. And, apparently, many people don't seem to understand the true nature of the country's debt position and what it bodes for the future.
Bogart says it is just 9 Trillion $ worth of paper that Americans owe. Is it true? Is US $ equivalent to paper?
The entitlement debt is up to $53 trillion now - that's on top of the $9 trillion for the operating budget. Watch the video.
Well, I personally think that part of the problem is that most Americans don't support this war. During WWII, there was actually a BOOST to the economy because of the war because people supported it. They had posters and ads everywhere telling people to support the war by buying bonds, buying this product, putting money here, etc. People supported the war and the troops, so they thought they were showing their support by pumping money into the economy. People DEFINITELY don't feel that way today....
i know a way to fix the problem What if 20 Million Illegal Aliens Vacated America_ Tina Griego, journalist for the Denver Rocky Mountain News wrote a column titled, 'Mexican Visitor's Lament' -- 10/25/07. She interviewed Mexican journalist Evangelina Hernandez while visiting Denver last week. Hernandez said, 'They (illegal aliens) pay rent, buy groceries, buy clothes... What Happens to your country's economy if 20 million people go away?' That's a good question - it deserves an answer. Over 80 percent of Americans demand secured borders and illegal migration stopped. But what would happen if all 20 million or more vacated America? The answers may surprise you! & nbsp; In California, if 3.5 million illegal aliens moved back to Mexico, it would leave an extra $10.2 billion to spend on overloaded school systems, bankrupt hospitals and overrun prisons. It would leave highways cleaner, safer and less congested. Everyone could understand one another as English became the dominant language again. In Colorado, 500,000 illegal migrants, plus their 300,000 kids and grand-kids - would move back 'home', mostly to Mexico. That would save Coloradans an estimated $2 billion (other experts say $7 billion) annually in taxes that pay for schooling, medical, social-services and incarceration costs. It means 12,000 gang members would vanish out of Denver alone. Colorado would save more than $20 million in prison costs, and the terror that those 7,300 alien criminals set upon local citizens. Denver Officer Don Young and hundreds of Colorado victims would not have suffered death, accidents, rapes and other crimes by illegals. Denver Public Schools would not suffer a 67 percent drop-out/flunk-out rate because of thousands of illegal alien students speaking 41 different languages. At least 200,000 vehicles would vanish from our gridlocked cities in Colorado. Denver's four percent unemployment rate would vanish as our working poor would gain jobs at a living wage. In Florida, 1.5 million illegals would return the Sunshine State back to America, the rule of law, and English. In Chicago, Illinois, 2.1 million illegals would free up hospitals, schools, prisons and highways for a safer, cleaner and more crime-free experience. &nbs p; If 20 million illegal aliens returned 'home' -- If 20 million illegal aliens returned 'home', the U.S. Economy would return to the rule of law Employers would hire legal American citizens at a living wage. Everyone would pay their fair share of taxes because they wouldn't be working off the books. That would result in an additional $401 Billion in IRS income taxes collected annually, and an equal amount for local, state and city coffers. No more push '1' for Spanish or '2' for English. No more confusion in American schools that now must contend with over 100 languages that degrade the educational system for American kids. Our overcrowded schools would lose more than two million illegal alien kids at a cost of billions in ESL and free breakfasts and lunches. &nbs p; We would lose 500,000 illegal criminal alien inmates at a cost of more than $1.6 billion annually. That includes 15,000 MS-13 gang members who distribute $130 billion in drugs annually would vacate our country. In cities like LA., 20,000 members of the '18th Street Gang' would vanish from our nation. No more Mexican forgery gangs for ID theft from Americans! No more foreign rapists and child molesters! Losing more than 20 million people would clear up our crowded highways and gridlock. Cleaner air and less drinking and driving American deaths by illegal aliens! America's economy is drained. Taxpayers are harmed. Employers get rich. Over $80 billion annually wouldn't return to the aliens' home countries by cash transfers. Illegal migrants earned half that mon ey untaxed, which further drains America's economy - which currently suffers an $8.7 trillion debt. At least 400,000 anchor babies would not be born in our country, costing us $109 billion per year per cycle. At least 86 hospitals in California, Georgia and Florida would still be operating instead of being bankrupt out of existence because illegals pay nothing via the EMTOLA Act. Americans wouldn't suffer thousands of TB and hepatitis cases rampant in our country-brought in by illegals unscreened at our borders. Our cities would see 20 million less people driving, polluting and grid locking our cities. It would also put the 'progressives' on the horns of a dilemma; illegal aliens and their families cause 11 percent of our greenhouse gases. Ove r one million of Mexico's poorest citizens now live inside and along our border from Brownsville, Texas to San Diego, California in what the New York Times called, 'colonias' or new neighborhoods. Trouble is, those living areas resemble Bombay and Calcutta where grinding poverty, filth, diseases, drugs, crimes, no sanitation and worse. They live without sewage, clean water, streets, electricity, roads or any kind of sanitation. The New York Times reported them to be America's new 'Third World' inside our own country. Within 20 years, at their current growth rate, they expect 20 million residents of those colonias. (I've seen them personally in Texas and Arizona; it's sickening beyond anything you can imagine.) By enforcing our laws, we could repatriate them back to Mexico. We should invite 20 million aliens to go home, fix their own countries and/or make a better life in Mexico. We already invite a million people into our country legally more than all other countries combined annually. We cannot and must not allow anarchy at our borders, more anarchy within our borders and growing lawlessness at every level in our nation. It's time to stand up for our country, our culture, our civilization and our way of life. Interesting Statistics. Here are 14 reasons illegal aliens should vacate America, and I hope they are forwarded over and over again until they are read so many times that the reader gets sick of reading them: 1. $11 billion to $22 billion dollars are spent each year on welfare to illegal aliens. http://tinyurl.com/zob77 2. $2.2 billion dollars are spent each year on food assistance programs such as food stamps, WIC, and free school lunches for illegal aliens. http://www.cis..org/articles/2004/fiscalexec.html 3. $2.5 billion dollars are spent each year on Medicaid for illegal aliens. http://www.cis..org/articles/2004/fiscalexec.html 4. $12 billion dollars are spent each year on primary and secondary school education for children here illegally and they cannot speak a word of English! http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html 5. $17 billion dollars are spent each year for education for the American-born children of illegal aliens, known as anchor babies. http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html 6. $3 Million Dollars PER DAY is spent to incarcerate illegal aliens. http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html 7. 30% percent of all federal prison inmates are illegal aliens. http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html 8. $90 billion dollars are spent each year on illegal aliens for welfare & social services by the American taxpayers. http://transcripts.cnn.com/TRANSCRIPTS/0610/29/ldt.01.html 9. $200 billion dollars per year in suppressed American wages are caused by the illegal aliens. http://transcripts.cnn.com/TRANSCRIPTS/0604/01/ldt.01.html 10. The illegal aliens in the United States have a crime rate that's two and a half times that of white non-illegal aliens. In particular, their children, are going to make a huge additional crime problem in the US. http://transcripts.cnn.com/TRANSCRIPTS/0606/12/ldt.01.html &n bsp; 11. During the year 2005, there were 4 to 10 MILLION illegal aliens that crossed our southern border with as many as 19,500 illegal aliens from terrorist countries. Millions of pounds of drugs, cocaine, meth, heroine, and marijuana crossed into the U.S. from the southern border. http://tinyurl.com/t9sht 12. The National Policy Institute, estimates that the total cost of mass deportation would be between $206 and $230 billion, or an average cost of between $41 and $46 billion annually over a five year period. http://www.nationalpolicyinstitute.org/publications.php?b=deportation 13. In 2006, illegal aliens sent home $45 BILLION in remittances back to their countries of origin. http://www.rense.com/general75/niht.htm 14. The dark side of illegal immigration: Nearly one million sex crimes are committed by illegal immigrants in the United States!' http://www.drdsk.com/articleshtml The total cost is a whopping $338.3 BILLION DOLLARS A YEAR!!! If this doesn't bother you, then just delete the message. Otherwise, forward this to everyone you know!
Old news really. Been investing in the stock market for years now and just been waiting for the poo to catch up. Scary thing is China owns most of the US debt
War costs money, you can't expect to have a war without spending some money. It is just the way it works. Historically, even though you are spending, war has been good for an economy.
Thats what happens when you have the Fed print money out of thin air and have out of control government spending.
Use the search function much? (All in the P&R section). If you're serious, just wondering what you hoped to gain? If you're making a joke, don't give up your current job.
Everyone who posted on this thread talking about the cost of the war has obviously not bothered to watch the video which I linked in the original post. The cost of the war is a tiny fraction of the bigger problem. @qazu -> Are you suggesting that, because the issue was brought up in the past and not addressed that it is not worth examining or discussing at this time (when the problem is worse)? The stock market isn't going to save you. The value of the dollar has dropped ~35% of it's value since Feb. 2002. You might be a stock market billionaire in a few decades, but what good will that be if the dollar crashes and you can't buy anything with it? @simplyg123 -> interesting figures (I didn't take the time to verify/analyze them), but I don't think $333 billion dollars a year is enough to make a serious dent in the problem.
Its no surprise, no one has the cahones to cut spending or raise taxes and certainly not both. Though if the US actually declared bankruptcy and made that trillions in debt go away the US would fall because who do they owe that money too @bernard:333billion a year is enough, as long as you also dont have a deficit for a few years.