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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 1128 Views
Well ... at least we've been here before ... ? The_Muted_Grimaud - 16/04/2011 06:41:00 AM 650 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 332 Views
Yeah, those old people are draining the system..... trzaska2000 - 16/04/2011 06:57:59 PM 629 Views
You're already worse off than much of Europe, honestly. Legolas - 16/04/2011 04:08:37 PM 766 Views
Re: You're already worse off than much of Europe, honestly. Tihs Tnuc - 17/04/2011 01:33:31 AM 742 Views
Balancing our budget would be easy. ranagrande - 16/04/2011 06:46:32 PM 584 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 805 Views
Also on the buying drugs from Canada idea Isaac - 16/04/2011 08:17:26 PM 695 Views
Re: Also on the buying drugs from Canada idea Macharius - 18/04/2011 01:59:44 PM 734 Views
Re: Also on the buying drugs from Canada idea Isaac - 18/04/2011 05:16:14 PM 904 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 1073 Views
Not really. Even if you can substantially raise tax revenue, the entitlement problem remains. *NM* Legolas - 16/04/2011 08:25:26 PM 291 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 738 Views
Have you ever looked at those projections for a decade or two hence? Legolas - 16/04/2011 10:13:12 PM 680 Views
Yes I have Skeeve the Great - 16/04/2011 10:44:50 PM 809 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 739 Views
Yes it's going out of control Skeeve the Great - 16/04/2011 11:17:59 PM 680 Views
Good, we agree on that much then. Legolas - 17/04/2011 09:59:17 AM 669 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 272 Views
Sorry, but that is a stupid opinion..... trzaska2000 - 16/04/2011 08:38:35 PM 644 Views
Sounds like another bull. Skeeve the Great - 16/04/2011 09:31:05 PM 916 Views
Dude, the data is the data.....tax revenue increased all three times. trzaska2000 - 16/04/2011 09:47:37 PM 855 Views
As I suspected, it's a bull. Skeeve the Great - 16/04/2011 10:02:05 PM 787 Views
Stop being a fool - read and react to the data provided, posting something..... trzaska2000 - 16/04/2011 10:14:11 PM 546 Views
Response is Skeeve the Great - 16/04/2011 10:19:00 PM 771 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 763 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 723 Views
I take it you mean "rate of revenue growth decreases". Legolas - 16/04/2011 11:11:19 PM 622 Views
Re: I take it you mean "rate of revenue growth decreases". Skeeve the Great - 16/04/2011 11:26:02 PM 777 Views
Additional point Skeeve the Great - 16/04/2011 11:37:17 PM 778 Views
It's not remarkable that revenue increased after the Reagan cuts. Tom - 17/04/2011 07:21:47 PM 949 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 647 Views
All the data is via CBO - do you know that the CBO is? trzaska2000 - 16/04/2011 10:16:08 PM 654 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 772 Views
Nice try.....care to explain why the same exact thing happened..... trzaska2000 - 16/04/2011 10:35:44 PM 583 Views
Re: Nice try.....care to explain why the same exact thing happened..... Skeeve the Great - 16/04/2011 10:49:33 PM 714 Views
Krugman is a shill for the Obama administration. Tom - 17/04/2011 02:34:50 AM 595 Views
Re: Krugman is a shill for the Obama administration. Skeeve the Great - 17/04/2011 03:50:24 AM 822 Views
Some obesrvations by Republican economists Skeeve the Great - 18/04/2011 12:27:04 AM 958 Views
You mean the Keynesian economist who wrote The Failure of Reaganomics random thoughts - 18/04/2011 04:00:52 PM 586 Views
Re: You mean the Keynesian economist who wrote The Failure of Reaganomics Skeeve the Great - 18/04/2011 05:36:44 PM 579 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 305 Views
Useless fact about our presidents since 1945. heartbreak - 17/04/2011 09:20:16 PM 828 Views
Re: Several basics facts about US Debt and Spending..... Skeeve the Great - 20/04/2011 03:51:19 PM 1007 Views
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