The U.S. Deficit: Reining In The Beast

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Jun 30, 2007
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We're in the hole. We spend a ton. Something's gotta change. There's a deficit commission tasked with righting the fiscal ship. But they lack teeth. They can make recommendations, but Congress can - and likely will - ignore them.

In any case, there are several issues on their collective plate. Here's David Gergen with a good synopsis...

Tough calls ahead for deficit commission - CNN.com

The future will be interesting.
 


globalization will lead to defecits, but im digging that new committee set up to drive exports. funny how the current ceo of boeing outanks alan mulally within this commission. just sayin'.
 
The spending will not come under control until the country collapses. I honestly don't think politicians have the will to stop buying votes, power means more to them than anything else including the survival of the nation.

All we can do is hope for the best but I'd recommend buying some guns and some gold or silver just to be on the safe side. If government has taught us anything they've taught us that they should never be trusted or counted on to do the right thing.

Sounds kind of loony to say "HURR DURR BUY GUNS AND SILVER"...but I mean, if shit hits the fan that's exactly what you would need. I already have the guns...just need the silver or gold.
 
I thought Reagan said deficit are not an issue which is true as long as the world driving currency is the US dollar.
 
slayerment said:
Trying to fix the problems of big government with yet another government agency. LOL.
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Yeah - poor morons just can't help but beat themselves up

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JD@Gigenet said:
I thought Reagan said deficit are not an issue which is true as long as the world driving currency is the US dollar.
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It will be interesting to see how US reacts when more countries stop taking dollars for oil and diversify themselves out of US debt. What can ya do? You can't roll over everyone.
 
While I mostly agree with the thought about how our military is being used the amount of money that would be saved is not anywhere near half. The cost of the wars this year are just under $140 billion. The total budget is $3.5 trillion and the deficit for the year is $1.2 trillion. The math on that means that even if we pulled out every last solider from Afghanistan and Iraq it would only cut the deficit by 10%. Worth doing? Yes but it will not come anywhere near solving the problem, hell we are spending more than that on interest on the national debt at $164 billion. The same goes for all the money we give to other countries. Should we stop? Yes but the amounts are so low that it is not going to make a real difference in our rampant deficit spending.

The real problem is our out of control so called social programs. As long as Congress and the President keep bribing the voters with an ever increasing amount of "free money" we will keep on our path to ruin. It used to be that the politicians would bribe us with other peoples money now they are bribing us with our grandchildrens money.

Easy as it is to blame the politicians the real problem is the electorate that keeps voting these losers into office. Until that stops (and personally I think we passed the point of no return about 20 years ago) things will just keep getting worse. I have been banging my ahead against this wall since the late 80's and everybody told me I was a nutcase telling me it will not get that bad etc...... Well the truth is that it will and is getting that bad. Will everything crash tomorrow or next year? No but the path is accelerating and we are heading towards the cliff.



barman said:
End 2 wars and half your problem is solved.
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ARVolund said:
While I mostly agree with the thought about how our military is being used the amount of money that would be saved is not anywhere near half. The cost of the wars this year are just under $140 billion. The total budget is $3.5 trillion and the deficit for the year is $1.2 trillion. The math on that means that even if we pulled out every last solider from Afghanistan and Iraq it would only cut the deficit by 10%. Worth doing? Yes but it will not come anywhere near solving the problem, hell we are spending more than that on interest on the national debt at $164 billion. The same goes for all the money we give to other countries. Should we stop? Yes but the amounts are so low that it is not going to make a real difference in our rampant deficit spending.

The real problem is our out of control so called social programs. As long as Congress and the President keep bribing the voters with an ever increasing amount of "free money" we will keep on our path to ruin. It used to be that the politicians would bribe us with other peoples money now they are bribing us with our grandchildrens money.
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Not counting the extra war funding, the regular defense budget went from around $300 billion in 2000 to nearly $600 billion. Russia spends $60 billion on theirs.

Most of the continued increased spending for Social Security, Medicare and Medicade actually has to do with the aging population and increased costs throughout the whole medical system, not because of changes made by politicians, though Bush did increase drug benefits. The rest of the social programs, such as food stamps and housing assistance, make up just a few percent of the total budget.
 
ly2 from WF said:
The spending will not come under control until the country collapses. I honestly don't think politicians have the will to stop buying votes, power means more to them than anything else including the survival of the nation.
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Yep - and it's the same in Europe too... Some western european countries have over 45% of the work force, 'working' for the government - and no one will dare stand up and say enough for fear of loosing their place at the trough...
 
ly2 from WF said:
The spending will not come under control until the country collapses. I honestly don't think politicians have the will to stop buying votes, power means more to them than anything else including the survival of the nation.

All we can do is hope for the best but I'd recommend buying some guns and some gold or silver just to be on the safe side. If government has taught us anything they've taught us that they should never be trusted or counted on to do the right thing.

Sounds kind of loony to say "HURR DURR BUY GUNS AND SILVER"...but I mean, if shit hits the fan that's exactly what you would need. I already have the guns...just need the silver or gold.
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Which is better silver or gold and why
 
Silver is a better investment.

There is more day to day demand for it in industry as apposed to Gold which is being inflated by being a fall back.

If the US dollar recovers more I'd go Silver, Gold will tank a bit.
 
Moxie said:
Not counting the extra war funding, the regular defense budget went from around $300 billion in 2000 to nearly $600 billion. Russia spends $60 billion on theirs.

Most of the continued increased spending for Social Security, Medicare and Medicade actually has to do with the aging population and increased costs throughout the whole medical system, not because of changes made by politicians, though Bush did increase drug benefits. The rest of the social programs, such as food stamps and housing assistance, make up just a few percent of the total budget.
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^^^^

start closing bases all over the world watch how much money we save.

People who think its all the welfare moms who are bringing us down have never looked at the pie chart.
 
conv3rsion said:
^^^^

start closing bases all over the world watch how much money we save.

People who think its all the welfare moms who are bringing us down have never looked at the pie chart.
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there you go.

hey but we have to be safe from all those terrorists out there that want to crush our freedom right? no?
 
The welfare for the rich needs to stop and the ppl that are focused on the already poor should be ashamed. I rather spend my welfare dollar on the poor than already rich billionaires.
 
Doesn't matter who the fuck the president or this or that fuckin person is, shadow government runs this show and they be not giving a fuck bout us.
 
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