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View Full Version : Debt Commission Leaders Paint Gloomy Picture


carguym14
July 11, 2010, 20:56
Really,no kidding-

http://news.yahoo.com/s/ap/20100712/ap_on_bi_ge/us_governors_debt_commission


from the article:
The heads of President Barack Obama's national debt commission painted a gloomy picture Sunday as the United States struggles to get its spending under control.

Republican Alan Simpson and Democrat Erskine Bowles told a meeting of the National Governors Association that everything needs to be considered including curtailing popular tax breaks, such as the home mortgage deduction, and instituting a financial trigger mechanism for gaining Medicare coverage.

The nation's total federal debt next year is expected to exceed $14 trillion about $47,000 for every U.S. resident.

"This debt is like a cancer," Bowles said in a sober presentation nonetheless lightened by humorous asides between him and Simpson. "It is truly going to destroy the country from within."

Simpson said the entirety of the nation's current discretionary spending is consumed by the Medicare, Medicaid and Social Security programs.

"The rest of the federal government, including fighting two wars, homeland security, education, art, culture, you name it, veterans, the whole rest of the discretionary budget, is being financed by China and other countries," said Simpson. China alone currently holds $920 billion in U.S. IOUs.




Huh,I thought the administration said things were getting better...........

MtnWulf
July 11, 2010, 21:40
Irksome Bowels is a moron and Simpson is a patsy.

Wanna bet they recommend higher taxes?

chrsdwns
July 11, 2010, 22:28
Simpson was an idiot 20 years ago and he now is 80 years old and proving that there is no fool like an old fool.

At least Paul Volker has figured out he has been made a fool of by this administration.

Rasing taxes and increasing spending in this current economic situation is pretty much economic suicide. The same policies in 1930 were a major factor in driving us into the Great Depression.

Cutting taxes, instiuting a 10-15% across the board pay and benifit cut for public employees(excluding LEO and military) to bring pay in line with private sector compensation, and reducing entitlement spending is the only solution we have that will get us out of this mess.

It is fundamentally unfair that able bodied workers who are trying to find a job should run out of unemployment benefits while third generation welfare spongers are getting a perpetual free ride.

carguym14
July 12, 2010, 08:17
Originally posted by chrsdwns
Simpson was an idiot 20 years ago and he now is 80 years old and proving that there is no fool like an old fool.

At least Paul Volker has figured out he has been made a fool of by this administration.

Rasing taxes and increasing spending in this current economic situation is pretty much economic suicide. The same policies in 1930 were a major factor in driving us into the Great Depression.

Cutting taxes, instiuting a 10-15% across the board pay and benifit cut for public employees(excluding LEO and military) to bring pay in line with private sector compensation, and reducing entitlement spending is the only solution we have that will get us out of this mess.

It is fundamentally unfair that able bodied workers who are trying to find a job should run out of unemployment benefits while third generation welfare spongers are getting a perpetual free ride.



Agreed,and I don't think you will find anyone here (except dabtl) that disagrees.

The problem is,who will implement that?Even if there is a Republican landslide this November,do you think anyone will cut entitlements?

I think we are guaranteed massive tax increases across the board,then more pain and suffering as the asshats in DC can't understand why things are getting worse instead of better.

We are stuck between a rock and a hard place with no easy way out.The only way I see out is not pleasant......

renaissance_warrior
July 12, 2010, 10:40
Well just to interject something here, I am of the opinion that there is probably no more than 20% of the population at most that are on the dole. As a politician, I would have no problem with those odds cutting back the payouts.

carguym14
July 12, 2010, 11:45
That's why you aren't a politician RW-and probably don't stand much of a chance of being elected with such a racist attitude as that.

You will never get a majority in the House or Senate to go along with that.

Oh well,we can dream..............

chrsdwns
July 12, 2010, 14:43
direct Entitlement transfer payment spending consumes 87% of LA counties 22.8 billion dollar a year budget.

A year 2000 audit found that 60% of LA counties entitlement spending was fraudulant

That makes around 11 billion in entitlement fraud in LA County alone.This 11 billion is a large fraction of Californias deficit.

It is significant

chrsdwns
July 12, 2010, 14:47
Carguym14

Correctamundo - read the second quote of my sig line to see where we are heading if we do not reign in our spending, rationalize our economic policies and encourage manufacturing to reinvest in our countries future

Socialism is not the anwser and we already have roughly 45% of our popualtion receiving more from the government than they pay in.

We simply have too many being supported by the system and not enough paying in to it and things are getting worse all of the time

TheOtherChris
July 12, 2010, 15:47
Originally posted by renaissance_warrior
Well just to interject something here, I am of the opinion that there is probably no more than 20% of the population at most that are on the dole. As a politician, I would have no problem with those odds cutting back the payouts.

I believe you would find that the majority of those receiving substantial amounts of aid are concentrated in "blue" districts where their politicians would have notably different odds.
(Still doesn't make it right though)

2barearms
July 12, 2010, 17:36
If you give the government one dime more than they get right now
they'll throw it down some hole never to be seen again. The truth is
that you are locked in, you can't cut SS, Medicaid or Medicare without
facing the wrath of every special interest group out there. The only way
out is war.

V guy
July 13, 2010, 11:46
"Obama the Mad" and his Cloward-Piven Strategy is finally beginning to be taken seriously by the old monied interests.

I guess they finally "get it" like we got it, long ago.

Expect politics to make odd bedfellows as the real money turns against Obama and Soros.

littlehoot
July 13, 2010, 16:56
Originally posted by renaissance_warrior
Well just to interject something here, I am of the opinion that there is probably no more than 20% of the population at most that are on the dole. As a politician, I would have no problem with those odds cutting back the payouts.

RW, the 20% who are on the dole are not the problem. its the other 20-25 % who think it is all of our responsibility to take care of that 20% that is the real problem

superjc
July 13, 2010, 18:28
The United States is ".. struggling to get it's spending under control"??? really? Yahoo news; better than dropping acid.

juanni
July 13, 2010, 20:47
Relax fellas,, all under control. The Senate republicans have decided to jump in and get this thing fixed!

Senate Republicans Press for Deep Cuts in Obama Budget
DeeeeeeeeeP CUTS a comin' !! (http://www.newsmax.com/Headline/senate-budget-cuts-gop/2010/07/13/id/364538)




:rofl: :rofl: :rofl:
....................juanni

brunop
July 13, 2010, 22:19
2% - now that is some out-of-the-box thinking.

Thanks goodness for Republicans.



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