Deficit Issue

[i_am2bz]

"Kicking the can" or even continuing to raise the debt ceiling is just postponing the inevitable. The bills will eventually have to be paid, unless we really do default & wipe the slate clean (which I don't see happening). But there is no way to solve this crisis without a LOT of pain. Anyone who thinks otherwise is just fooling themselves. :/

 

[FarmerChick]

well Greece survived. before default the European countries kicked in and wrote a plan to save Greece---so heck if they can be saved...we can also
problem alot of those anlayst say the save was not great and will eventually hurt the others long term, so who knows.....
you are right 2bz--will be painful

 

[Wifezilla]

And the longer fixing the problem is delayed, the more painful it will be.

 

[i_am2bz]

And the longer fixing the problem is delayed, the more painful it will be.

Yep. And I sure can't foresee anyone bailing us out like they did with Greece.

 

[Wifezilla]

Who could even if they wanted to??

 

[i_am2bz]

Who could even if they wanted to??

China, maybe...? Oh wait...they'd be paying themselves back. :/

 

[JRmom]

I wonder how much of our natural resources (land, mineral rights, etc.) China already owns outright?

 

[old fashioned]

This post is based on what I noticed in the speeches from both parties. Obama did talk about a certain number of cuts, but also included raising govt income by taxing big corps & those making over $250,000. Boehner only talked of more drastic cuts, no income.

Now in comparing that to our personal financial situation, I know we've only been able to make so many spending cuts before there wasn't anywhere left to cut from-without cutting into essentials/basic needs. We had/have no other choice than to generate more income (my getting a job, for example). Finances are still very tight and at times we have to make a payment late, or go without certain things but atleast we are scraping by even if we're one payment away from loosing it all. If I hadn't gotten a job last year, we would have already lost everything. We probably could borrow but we sure don't want or need another payment.

I don't see how the govt can possibly keep cutting spending without increasing it's income. It's true there are plenty of programs that need drastic cutting, but that's rarely where the cuts happen. Just voicing my observations, so don't shoot me.

 

[i_am2bz]

I don't see how the govt can possibly keep cutting spending without increasing it's income. It's true there are plenty of programs that need drastic cutting, but that's rarely where the cuts happen.

The problem I see is, I don't think the govt HAS been cutting spending...maybe I'm wrong about this, but if all possible cuts have been made, why does the budget (& the debt) keep going up up up every year...? Borrowing $.40 out of every $1 spent is some scary sh!t...!!

 

[FarmerChick]

here are some cuts
http://rds.yahoo.com/_ylt=A2KJ3CQ9T...110726/072611_post_office_closings.html?.v=15


of course people go out of work