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Re: You're already worse off than much of Europe, honestly. Tihs Tnuc Send a noteboard - 17/04/2011 01:33:31 AM
Now for the opinion. We are in deep, deep trouble and entitlement spending needs to be scaled back significantly. We can't afford these reckless promises of the past. Either we start cutting now or we will end up like much of Europe and have to take extreme austerity measures when our house of cards comes crashing down.

Well, not worse than Greece and the like, obviously, but while Western Europe faces similar challenges because of its aging population - less of an issue in the US, though still an issue - the numbers here don't look quite as bleak, because our public health care spending - oh irony - isn't spiraling out of control quite as badly.

But either way, yes, entitlement spending has to be tackled seriously.

Currently. But with ECB having just administered a 25bps interest rate increase and various mentions of a 3% rate by years end even from dovish European central bankers, it could all change dramatically and quickly. Europe has too much peripheral debt to be acting hawkish right now.

The US is facing a situation it hasn't faced ever, which is the possibility of the dollar not being the global reserve currency.
OPEC nations beginning to price things in currencies other than dollars, as well as important commodity futures now being priced in Euros as well.

If you want economic change in the US, get rid of Geithner and Bernanke. Government isn't controlling US debt the Fed is. And the fact that the largest holder of USTs is now the USA is all kinds of disastrous.
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Several basics facts about US Debt and Spending..... trzaska2000 - 16/04/2011 04:41:55 AM 1299 Views
Well ... at least we've been here before ... ? The_Muted_Grimaud - 16/04/2011 06:41:00 AM 815 Views
Guess we should have okay'd those death panels for old people then. Big money saver. *NM* TaskmasterJack - 16/04/2011 03:38:00 PM 425 Views
Yeah, those old people are draining the system..... trzaska2000 - 16/04/2011 06:57:59 PM 830 Views
You're already worse off than much of Europe, honestly. Legolas - 16/04/2011 04:08:37 PM 931 Views
Re: You're already worse off than much of Europe, honestly. Tihs Tnuc - 17/04/2011 01:33:31 AM 945 Views
Balancing our budget would be easy. ranagrande - 16/04/2011 06:46:32 PM 766 Views
Several of those aren't as easy as you make it sound, but the import tax is a big no-no. Legolas - 16/04/2011 07:34:30 PM 982 Views
Also on the buying drugs from Canada idea Isaac - 16/04/2011 08:17:26 PM 863 Views
Re: Also on the buying drugs from Canada idea Macharius - 18/04/2011 01:59:44 PM 908 Views
Re: Also on the buying drugs from Canada idea Isaac - 18/04/2011 05:16:14 PM 1090 Views
Funny you mentioned WWII and 1968. Can you put tax rates at these times as well? Skeeve the Great - 16/04/2011 07:50:09 PM 1236 Views
Not really. Even if you can substantially raise tax revenue, the entitlement problem remains. *NM* Legolas - 16/04/2011 08:25:26 PM 365 Views
Re: Not really. Even if you can substantially raise tax revenue, the entitlement problem remains. Skeeve the Great - 16/04/2011 09:19:40 PM 895 Views
Have you ever looked at those projections for a decade or two hence? Legolas - 16/04/2011 10:13:12 PM 860 Views
Yes I have Skeeve the Great - 16/04/2011 10:44:50 PM 989 Views
Erm, and you think total health care spending is not getting out of control? I'm a little confused. Legolas - 16/04/2011 11:02:52 PM 923 Views
Yes it's going out of control Skeeve the Great - 16/04/2011 11:17:59 PM 876 Views
Good, we agree on that much then. Legolas - 17/04/2011 09:59:17 AM 831 Views
Exactly. Cutting back on fraud and waste doesn't really put much of a dent in those projections. *NM* Tom - 17/04/2011 02:31:13 AM 344 Views
Sorry, but that is a stupid opinion..... trzaska2000 - 16/04/2011 08:38:35 PM 827 Views
Sounds like another bull. Skeeve the Great - 16/04/2011 09:31:05 PM 1076 Views
Dude, the data is the data.....tax revenue increased all three times. trzaska2000 - 16/04/2011 09:47:37 PM 1050 Views
As I suspected, it's a bull. Skeeve the Great - 16/04/2011 10:02:05 PM 961 Views
Stop being a fool - read and react to the data provided, posting something..... trzaska2000 - 16/04/2011 10:14:11 PM 714 Views
Response is Skeeve the Great - 16/04/2011 10:19:00 PM 929 Views
Good lord.....it's like talking to a brick. I really hope you are 12 or 13. trzaska2000 - 16/04/2011 10:28:44 PM 932 Views
Re: Good lord.....it's like talking to a brick. I really hope you are 12 or 13. Skeeve the Great - 16/04/2011 10:47:24 PM 890 Views
I take it you mean "rate of revenue growth decreases". Legolas - 16/04/2011 11:11:19 PM 814 Views
Re: I take it you mean "rate of revenue growth decreases". Skeeve the Great - 16/04/2011 11:26:02 PM 951 Views
Additional point Skeeve the Great - 16/04/2011 11:37:17 PM 936 Views
It's not remarkable that revenue increased after the Reagan cuts. Tom - 17/04/2011 07:21:47 PM 1121 Views
I've just noticed that you've provided charts from Heritage Foundation! Are you f.. kidding me? Skeeve the Great - 16/04/2011 10:13:46 PM 805 Views
All the data is via CBO - do you know that the CBO is? trzaska2000 - 16/04/2011 10:16:08 PM 818 Views
Re: All the data is via CBO - do you know that the CBO is? Skeeve the Great - 16/04/2011 10:27:01 PM 929 Views
Nice try.....care to explain why the same exact thing happened..... trzaska2000 - 16/04/2011 10:35:44 PM 746 Views
Re: Nice try.....care to explain why the same exact thing happened..... Skeeve the Great - 16/04/2011 10:49:33 PM 901 Views
Krugman is a shill for the Obama administration. Tom - 17/04/2011 02:34:50 AM 762 Views
Re: Krugman is a shill for the Obama administration. Skeeve the Great - 17/04/2011 03:50:24 AM 983 Views
Some obesrvations by Republican economists Skeeve the Great - 18/04/2011 12:27:04 AM 1122 Views
You mean the Keynesian economist who wrote The Failure of Reaganomics random thoughts - 18/04/2011 04:00:52 PM 764 Views
Re: You mean the Keynesian economist who wrote The Failure of Reaganomics Skeeve the Great - 18/04/2011 05:36:44 PM 748 Views
You use Krugman and then complain about the Heritage Foundation! Are you f.. kidding me? *NM* random thoughts - 18/04/2011 02:46:47 AM 381 Views
Useless fact about our presidents since 1945. heartbreak - 17/04/2011 09:20:16 PM 1029 Views
Re: Several basics facts about US Debt and Spending..... Skeeve the Great - 20/04/2011 03:51:19 PM 1189 Views
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