USA is bankrupt

That's not what David Walker says:

more on the subject from CBS News/60 Minutes: U.S. Heading For Financial Trouble?

 

Here is an idea. Let's stop spending money in Germany, England, Korea and Japan. Let's bring our troops home, and spend that money with domestic companies to supply domestic bases. Let's have those troops spend their money in the domestic economy, instead of subsidizing the economy of other nations.

And let's seriously examine this mentally retarded concept of foreign aid, where we transfer domestic wealth (we don't even have, due to deficit) to other nations.

Are our politicians trying to help Americans or the world? And who is their first priority?

 

So we got the pro's list. Where is the con's?

 

But that what Americans want. They voted for the dude...and RE-VOTED for the dumbo again...So they agree and they love it...
If Jeb was campaigning today with the others, Americans will vot for him, for sure...The more idiot, the more votes.
When I go to TN, (well...I know...it's TN..) I ask for who they'll vote and they say "for Georges Bush"...They don't even know what's happening outside, sundays, after the mass....

 

It's not all Bush's fault, although he is clearly not an innocent party.

And his elections...

Well, let's just say, not everyone is convinced they were earned.

 

the revote wasnt exactly indicative of what america wanted. Bush or Kerry, do you vote for bad or worse? The only thing that re-election showed was that we need more than 2 parties.

 

Damn! I was going to take my family out to dinner tonight. But from the sounds of it, everything will be closed and I'll have to start growing vegetables in my backyard.

Hmm, so if I don't pay my electric bill this month, because America is bankrupt, I wonder if I just put that on my bill, mailed it in, if they'd not shut my service off?

If the fed really does "just print money out of thin air" as some often say, then why don't they just print a whole bunch up and pay everyone off? Or is that too "conspiratorial" to consider?

 

GTech, is it your contention that compound interest on the debt and spiking medicare and SS payments from a non-existant trust fund are not a serious fiscal problem? Are you contending that the head of the GAO is mistaken in his assessments?

 

Well to me $2.4 trillion is a LOT of money, I dont know how about you.

http://www.usatoday.com/news/military/2007-10-23-wacosts_N.htm

And that's just Iraq and Afghanistan, I think Bush eating so much that he cant actually swallow, or his plans failed.

 

I agree. It's time for freedom in the land of the almost free.
But, don't go too far. Belgium has more parties than citizens and they can't agree to something and get no government for over 6 months now...

 

Sure it is, but it is much smaller than $53 trillion. It exacerbates the problem, but if the entitlement problem didn't exist, the USA could be paying for the Iraq war without having to borrow from the Chinese.

 

I've said no such thing, nor am I sure how or why you would attempt to associate such questions/comments with me.

Every year, since I've been here, around the first of the year, some "doom and gloomist" (not usually someone who is "kind" towards America) has started a post about how the US is bankrupt. Don't take my word for it, go back and search and see for yourself.

Do I believe there are problems? Absolutely. Am I going to pretend, like some here do, to be an economist and suggest that gutting the country is a reasonable solution to address problems? No.

If you really want to know the "truth" from a non-partisan expert on this topic here, seek out forum member ReadyToGo. He's a straight up person that has often addressed these issues in a non-partisan (in other words, not "Ron Paul is the only candidate who doesn't squeeze the Charmin and can save us!!!" - note the mandatory three exclamation points!).

I do not trust the unqualified "opinions" of many partisans here, on this issue, and with good reason. I've seen ReadyToGo address these very issues with calmness, non-partisanship and a mastery of unparalleled proportion when it comes to knowledge of economics and setting the record/opinions of others who are partisan here.

 

The head of the GAO knows a little bit more about the nation's finances than ReadyToGo. While I appreciate RTG's knowledge, this stuff is beyond his pay grade.

Amazing how many of the neo-conservatives refuse to watch the video and address the tangible, actual facts as presented by the government's non-partisan accountant.

 

lol... Are you intimating that David Walker, head of the GAO (that's Government Accountability Office) is a Ron Paul partisan? Did you even watch the video I referenced in the original post?

BTW, my last post to you was addressing your sarcastic response to the subject of the thread. I guess I gave you too much credit for actually watching the video and understanding the subject being presented.

 

In the same way so many ron paul supporters (not code word for Jews!) refuse to look at their candidate's racial newsletters and address the tangible, actual facts as presented by those who uncovered them?

Gee, imagine that. Sorry, I don't trust you on bashing America guerilla. And I don't trust ron paul supporters. Doom and gloom is all they know.

Anyone want to bet the restaurant I go to tonight is open? I'm thinking about some "Thai" food!

 

I'm not an alex jones supporter

You shouldn't give someone credit for completely maligning what they said. You should probably take credit for that yourself, but as seems to be a recurring theme with Ron Paul AND some of his supporters, they don't take credit for what they write

 

Bernard, I just watched the video in it's entirety. I do agree, it's probably something I shouldn't have taken so light heartedly and certain a reason for concern.

What are the solutions (if in fact, it's possible to suggest those without saying "Ron Paul is the only candidate who can save us!!!")

 

I appreciate the honest response.

The solution is going to require increased revenue (either a massive increase in the economy or taxes), decreased spending and/or restructuring the SS & MM programs. However, just minor tweaks aren't going to be sufficient.

From the 60 Minutes interview:

How much is the pentagon's budget out of that $600+ billion dollars we're spending on defense currently (not counting the Iraq war)?

 

The real question is, how do we ask the American people to sacrifice? How do we turn this around?

We're gunna have to end both the welfare and warfare states for starters. Superfluous budget money pits like the Dept. of Energy will have to be collapsed.

A load of cutting will have to be done before we touch SS, MM and raise taxes.

But without using this opportunity to address our inflationary monetary policy, based on the idea of deficit spending fueled by inflation to stimulate the economy, we don't stand a chance. We're not going to pull this off without sound money, because as the cleanup begins, the economy is going to get very weak, before it can get healthy again.