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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 1206 Views
Well ... at least we've been here before ... ? The_Muted_Grimaud - 16/04/2011 06:41:00 AM 730 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 366 Views
Yeah, those old people are draining the system..... trzaska2000 - 16/04/2011 06:57:59 PM 712 Views
You're already worse off than much of Europe, honestly. Legolas - 16/04/2011 04:08:37 PM 853 Views
Re: You're already worse off than much of Europe, honestly. Tihs Tnuc - 17/04/2011 01:33:31 AM 833 Views
Balancing our budget would be easy. ranagrande - 16/04/2011 06:46:32 PM 673 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 893 Views
Also on the buying drugs from Canada idea Isaac - 16/04/2011 08:17:26 PM 778 Views
Re: Also on the buying drugs from Canada idea Macharius - 18/04/2011 01:59:44 PM 815 Views
Re: Also on the buying drugs from Canada idea Isaac - 18/04/2011 05:16:14 PM 992 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 1156 Views
Not really. Even if you can substantially raise tax revenue, the entitlement problem remains. *NM* Legolas - 16/04/2011 08:25:26 PM 327 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 822 Views
Have you ever looked at those projections for a decade or two hence? Legolas - 16/04/2011 10:13:12 PM 770 Views
Yes I have Skeeve the Great - 16/04/2011 10:44:50 PM 891 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 821 Views
Yes it's going out of control Skeeve the Great - 16/04/2011 11:17:59 PM 759 Views
Good, we agree on that much then. Legolas - 17/04/2011 09:59:17 AM 749 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 304 Views
Sorry, but that is a stupid opinion..... trzaska2000 - 16/04/2011 08:38:35 PM 707 Views
Sounds like another bull. Skeeve the Great - 16/04/2011 09:31:05 PM 996 Views
Dude, the data is the data.....tax revenue increased all three times. trzaska2000 - 16/04/2011 09:47:37 PM 941 Views
As I suspected, it's a bull. Skeeve the Great - 16/04/2011 10:02:05 PM 866 Views
Stop being a fool - read and react to the data provided, posting something..... trzaska2000 - 16/04/2011 10:14:11 PM 632 Views
Response is Skeeve the Great - 16/04/2011 10:19:00 PM 853 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 842 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 810 Views
I take it you mean "rate of revenue growth decreases". Legolas - 16/04/2011 11:11:19 PM 700 Views
Re: I take it you mean "rate of revenue growth decreases". Skeeve the Great - 16/04/2011 11:26:02 PM 854 Views
Additional point Skeeve the Great - 16/04/2011 11:37:17 PM 860 Views
It's not remarkable that revenue increased after the Reagan cuts. Tom - 17/04/2011 07:21:47 PM 1033 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 723 Views
All the data is via CBO - do you know that the CBO is? trzaska2000 - 16/04/2011 10:16:08 PM 737 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 852 Views
Nice try.....care to explain why the same exact thing happened..... trzaska2000 - 16/04/2011 10:35:44 PM 668 Views
Re: Nice try.....care to explain why the same exact thing happened..... Skeeve the Great - 16/04/2011 10:49:33 PM 799 Views
Krugman is a shill for the Obama administration. Tom - 17/04/2011 02:34:50 AM 674 Views
Re: Krugman is a shill for the Obama administration. Skeeve the Great - 17/04/2011 03:50:24 AM 905 Views
Some obesrvations by Republican economists Skeeve the Great - 18/04/2011 12:27:04 AM 1042 Views
You mean the Keynesian economist who wrote The Failure of Reaganomics random thoughts - 18/04/2011 04:00:52 PM 676 Views
Re: You mean the Keynesian economist who wrote The Failure of Reaganomics Skeeve the Great - 18/04/2011 05:36:44 PM 667 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 343 Views
Useless fact about our presidents since 1945. heartbreak - 17/04/2011 09:20:16 PM 928 Views
Re: Several basics facts about US Debt and Spending..... Skeeve the Great - 20/04/2011 03:51:19 PM 1101 Views
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