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Old 08-24-2010, 02:47 PM   #16 (permalink)
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Default Re: US National Debt Clock

Originally Posted by Soot and Stars View Post
I think if we all worried about things we couldn't change we'd be having panic attacks everyday and eventually a lot of strokes, etc. Just how I see it!
couldn't agree more. Like the Beatles song "Let It Be."
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Old 08-24-2010, 03:02 PM   #17 (permalink)
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Default Re: US National Debt Clock

Originally Posted by Soot and Stars View Post
I think if we all worried about things we couldn't change we'd be having panic attacks everyday and eventually a lot of strokes, etc. Just how I see it!
I agree with that statement. However, a lot of the waste and corruption in the government that is causing this huge deficit can be changed.
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Old 08-26-2010, 01:10 AM   #18 (permalink)
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Default Re: US National Debt Clock

Originally Posted by SchindlerHaughton View Post
I agree with that statement. However, a lot of the waste and corruption in the government that is causing this huge deficit can be changed.
Indeed, we keep electing PUBLIC SERVANTS based on their resume and promises (the appropriate word should be goals) but the minute someone writes them a check, they go potty, their guts shrink and they all go on vacation.

I don't agree that we are worrying 24/7 about all this. We have families, jobs, house payments/rent to pay, movies and music to enjoy but when such colossal decisions affecting everyone come into play with major longterm consequences, any level headed citizen should keep an eye on things when possible.
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Old 08-26-2010, 02:27 AM   #19 (permalink)
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Default Re: US National Debt Clock

Originally Posted by Odysseus View Post
Indeed, we keep electing PUBLIC SERVANTS based on their resume and promises (the appropriate word should be goals) but the minute someone writes them a check, they go potty, their guts shrink and they all go on vacation.

I don't agree that we are worrying 24/7 about all this. We have families, jobs, house payments/rent to pay, movies and music to enjoy but when such colossal decisions affecting everyone come into play with major longterm consequences, any level headed citizen should keep an eye on things when possible.
I agree 110%; any citizen naturally wants to keep an eye on how their country/ state/ providence/ etc. of residence is doing. It doesn't mean we are being worrisome, and nobody worries about that stuff 24/7.
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Old 08-26-2010, 09:20 AM   #20 (permalink)
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Default Re: US National Debt Clock

What is even more scary about the mountain of debt is the fact that China(That realm of enlightenment and forward thinking) and Japan could destroy the value of the American dollar if they wanted to. They have been bankrolling the debt to the point they control the US's destiny which is appalling.

I would make a simple rule, you cannot spend more than you take in, unless it is an emergency like roads, bridges, hospitals etc., then you can take money from the Defense budget and spend it on your peoples well being and essential services.(After all no one in their right mind is ever going to invade the US, nuclear deterrents are not even necessary for that peace of mind.)
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Old 08-26-2010, 11:03 AM   #21 (permalink)
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Default Re: US National Debt Clock

C'est la vie
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Old 08-26-2010, 01:21 PM   #22 (permalink)
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Exclamation Re: US National Debt Clock

The deficit problem is nearly insurmountable. The solution is of course for the government to spend less than it takes in.

1. As far as taking in more, the fellows who promise to raise tax rates are seldom elected. Moreover, there is lots of empirical evidence that raising income tax rates is counterproductive and ends up decreasing the amount of taxes collected. Quite simply, wage earners choose leisure instead of hard work for which they're not being paid as much and the size of the economic pie shrinks. Moreover, there's no solution in just taxing the "rich" more heavily anyway. There's not enough money there. Taxes must inevitably take a bite out of the middle class because that's where the bulk of the earnings are located.

Raising consumption taxes such as sales taxes is also very unpopular at the polls because the claim that someone else, i.e. the rich, will be hit by the increase cannot be made. The only thing that might be palatable is raising "sin" taxes on alcohol, tobacco, and perhaps gasoline and ammunition shortly after an election.

2. Similarly, it's very tough to cut spending. Iraq is a tar baby and the only thing anyone can do is blame the fellows who got the U.S. into the mess. But there's no end in sight.

Secondly, every politician likes to talk about eliminating waste but that's just a drop in the bucket. Program cuts are necessary for any meaningful reduction in spending, but voters know therefore that their "entitlements" will shrink and they're opposed to that. Everybody wants somebody else's entitlements cut, and not those where they're feasting at the trough of government largesse (or at least getting a piece of the action) themselves.

Ending the egregiously expensive "war on drugs" would help though. That way the government could get a piece of the revenues as opposed to the bulk of the expenses (enforcement costs).

And tax churches/religions. They're businesses like any other. That way other taxes on more productive individuals might be kept down. Of course every preacher would scream bloody murder from his pulpt and urge his flock to vote against the devil worshippers who would tax God and his hard working servants on earth....

Finally, making it illegal for Congressmen to attach earmarks for their own pet projects, i.e. pork barrels, to unrelated bills would help a lot - but none of the Congressmen would vote for the measure. That's democracy for you.

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Old 08-26-2010, 04:44 PM   #23 (permalink)
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Default Re: US National Debt Clock

I think we should all just get a "Do-over". The same way the ridiculous interest on IMF loans ensure most struggling third world nations can never fully repay them so they get forgiven on a regular basis.

Just figure out a way to start over for everyone, after all Money itself is just an idea.
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Old 08-26-2010, 06:08 PM   #24 (permalink)
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Default Re: US National Debt Clock

I wont give up my credit cards, why should the gov't give up theirs.....Spend I say!


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