Debt ceiling: Good going, guys

[Donger]

This should scare the crap out of everyone...

http://money.cnn.com/2011/07/27/news...=yes&hpt=hp_t1

NEW YORK (CNNMoney) -- With all the Washington dysfunction over the debt ceiling, it's easy to forget the reality of the debt problems everyone says they want to fix.

Here's what's at stake: An entitlement system that Americans rely on but that promises more than it can afford; a tax code that is complex, inefficient and perceived to be unfair; and a projected growth trajectory for debt that is unsustainable and threatens the country's economic future.

How unsustainable? By 2025, spending on Medicare, Medicaid, Social Security and interest on the debt is projected to suck up virtually all federal tax revenue, with interest costs alone accounting for nearly half. By 2040, there would only be enough in federal tax revenue to pay for interest and most of Social Security.

[patteeu]

Originally Posted by Donger

This should scare the crap out of everyone...

http://money.cnn.com/2011/07/27/news...=yes&hpt=hp_t1

NEW YORK (CNNMoney) -- With all the Washington dysfunction over the debt ceiling, it's easy to forget the reality of the debt problems everyone says they want to fix.

Here's what's at stake: An entitlement system that Americans rely on but that promises more than it can afford; a tax code that is complex, inefficient and perceived to be unfair; and a projected growth trajectory for debt that is unsustainable and threatens the country's economic future.

How unsustainable? By 2025, spending on Medicare, Medicaid, Social Security and interest on the debt is projected to suck up virtually all federal tax revenue, with interest costs alone accounting for nearly half. By 2040, there would only be enough in federal tax revenue to pay for interest and most of Social Security.

Our democrat friends will read that and come to the conclusion that we desperately need a massive tax increase.

[BucEyedPea]

Looks like 70 years socialism, even if not total, is coming to the same end that it brought to the Soviet Union and Cuba. It just took longer.

Family will be needed and relied upon more than ever—the way it used to be.

[Taco John]

It sounds like we need a balanced approach. On one hand we offer a bunch of entitlements. On the other hand, we balance that by raising taxes.

See? Balance.

[KCWolfman]

Why should we be scared?

Our kids can pay for it.

[dirk digler]

No problem anytime

[blaise]

What's great is, we probably won't be able to leave a dime to our kids by then. Even if we save up all our money to try and give our kids an advantage, by 2040 the government will probably be taxing inheritance on all income levels by 90%.

[Donger]

Originally Posted by Taco John

It sounds like we need a balanced approach. On one hand we offer a bunch of entitlements. On the other hand, we balance that by raising taxes.

See? Balance.

If I could go back in time, that mother ****er FDR never would have been POTUS.

[chasedude]

Originally Posted by Donger

If I could go back in time, that mother ****er FDR never would have been POTUS.

If I could go back in time, Woody Wilson would never have signed the Fed Reserve Act.

[Amnorix]

Originally Posted by Donger

If I could go back in time, that mother ****er FDR never would have been POTUS.

The changing demographics that have rendered SS unsustainable weren't exactly predictable in the 1930s. SS has been a very successful program. It's unfortunate it can't continue as it has.

[Donger]

Originally Posted by Amnorix

The changing demographics that have rendered SS unsustainable weren't exactly predictable in the 1930s. SS has been a very successful program. It's unfortunate it can't continue as it has.

It never should have been introduced in the first place.

I read recently about the first person to receive SS benefits. Some broad in Vermont. She paid in something like $22.50 and eventually took in over $20,000 in checks.

And now, this "self-sustaining" wonderment of government imposition is costing us 25% of our ****ing budget.

Yeah, let's trust the ****ing government with our money.

[Cannibal]

I am a liberal, but I am getting to the point that I really think we should just abolish Social Security, Medicare, Medicaid, Unemployment, Welfare and the majority of Military funding. Just stop taking SS taxes from my wages as it will not be there when I retire anyway.

Anyone currently receiving SS and Medicare can fend for themselves. You don't have the money to pay for food and housing without your SS? **** it, no skin off my back. Both of my parents and grand parents are dead anyway and I don't have any kids. I guess I seriously don't give much of a **** if there's a bunch of old people on the streets at this point, I really don't. **** em, a majority of them voted for this right wing agenda anyway. Let them starve, just stop taking the tax money to care of them out of my check.

Abolish the Dept. of Education while your at it. I don't have any kids and don't plan to. **** everyone elses kids. The majority of them are overweight, underachieving losers anyway. **** em.

[KCWolfman]

Originally Posted by Cannibal

I am a liberal, but I am getting to the point that I really think we should just abolish Social Security, Medicare, Medicaid, Unemployment, Welfare and the majority of Military funding. Just stop taking SS taxes from my wages as it will not be there when I retire anyway.

Anyone currently receiving SS and Medicare can fend for themselves. You don't have the money to pay for food and housing without your SS? **** it, no skin off my back. Both of my parents and grand parents are dead anyway and I don't have any kids. I guess I seriously don't give much of a **** if there's a bunch of old people on the streets at this point, I really don't. **** em, a majority of them voted for this right wing agenda anyway. Let them starve, just stop taking the tax money to care of them out of my check.

Abolish the Dept. of Education while your at it. I don't have any kids and don't plan to. **** everyone elses kids. The majority of them are overweight, underachieving losers anyway. **** em.

Actually, the Department of Education does nothing to educate your children, your local government does that. It was a Department created by Jimmy Carter to attempt to monitor standards regarding privacy and civil rights, not teach. If it disappeared tomorrow, most school districts would be better off.

[Cannibal]

Originally Posted by KCWolfman

Actually, the Department of Education does nothing to educate your children, your local government does that. It was a Department created by Jimmy Carter to attempt to monitor standards regarding privacy and civil rights, not teach. If it disappeared tomorrow, most school districts would be better off.

I don't have any kids, so I don't really care. Abolish it.

[KCWolfman]

Originally Posted by Cannibal

I don't have any kids, so I don't really care. Abolish it.

I do have kids, and I would love it to be abolished.

See, liberals and conservatives can negotiate.