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JU_88 · 09-30-12, 06:13 PM

"and raise the defense budget while cutting taxes and eliminating the deficit."

Yeah thats a good one, the answer is you can only accomplish the the first two by raising the debt ceiling.... again, and you cant do that forever.
Still this all sounds way too 'partisan hack' in the Dems favour, the truth is that the Dems really are not doing anything different to Republicans regarding the above quoted text. The Defecit has ballooned again under Obama - as it did under Bush II, and beyond.
IMO, its not a partisan issue anymore, niether side wants to face up to the reality of what I would suggest is Americas number 1 problem, its survival being so dependant on unsustainable borrowing.
Something that leaves it wide open to catastrophic failure, if its ablility to borrow on the cheap is compromised for any reason.... Not a good position to have during a debt crisis - they should have started cutting in 2008 when it was made obvious that the wheels were falling off the debt machine. They didnt do it, instead they want to try to print (QE) and borrow their way out, which is not likely going to succeed, its like painting over the cracks at best. The ever devaluing dollar is proof that it is not a good solution for the long term.
If it does go bad for America you can bet that the partisan hacks will be blaming each other for decades afterwards. (The above artical is a perfect example) God forbid they admit to any accountability from their own team.

I dont know if there really is a solution to an oversized debt burden, today Greece and Spain are demonstrating that tough austerity messures dont work either, they just dig you in to a deeper hole where you end up struggling to pay off your intreast, Austerity = less jobs = lousy GDP = inability to pay off a defecit, its a downward spiral.
While the likes of America, UK and Germany are still in a far stonger economic position than either of those two, the same truth rings true, debt = financial slavery if your are not careful.

You cant comfortably pay off debt with more debt (like Amercia) and you cant pay it off with total Austerity either (like Greece)
'Economic stagnation' is about the nicest thing we can expect to experience over the next couple of decades. Anyone who thinks we are going to have another '96-2007 type boom' anytime soon is in for a major dissapointment. We may not even see another one like that in our lifetime.

I hope for all our sakes (and our childrens sakes.) mankind can somehow muddle though this one without causing too much pain - and still learn its lesson in the process.

09-30-12, 06:13 PM	#2
JU_88 Silent Hunter Join Date: Jan 2006 Location: UK Posts: 3,803 Downloads: 11 Uploads: 0	"and raise the defense budget while cutting taxes and eliminating the deficit." Yeah thats a good one, the answer is you can only accomplish the the first two by raising the debt ceiling.... again, and you cant do that forever. Still this all sounds way too 'partisan hack' in the Dems favour, the truth is that the Dems really are not doing anything different to Republicans regarding the above quoted text. The Defecit has ballooned again under Obama - as it did under Bush II, and beyond. IMO, its not a partisan issue anymore, niether side wants to face up to the reality of what I would suggest is Americas number 1 problem, its survival being so dependant on unsustainable borrowing. Something that leaves it wide open to catastrophic failure, if its ablility to borrow on the cheap is compromised for any reason.... Not a good position to have during a debt crisis - they should have started cutting in 2008 when it was made obvious that the wheels were falling off the debt machine. They didnt do it, instead they want to try to print (QE) and borrow their way out, which is not likely going to succeed, its like painting over the cracks at best. The ever devaluing dollar is proof that it is not a good solution for the long term. If it does go bad for America you can bet that the partisan hacks will be blaming each other for decades afterwards. (The above artical is a perfect example) God forbid they admit to any accountability from their own team. I dont know if there really is a solution to an oversized debt burden, today Greece and Spain are demonstrating that tough austerity messures dont work either, they just dig you in to a deeper hole where you end up struggling to pay off your intreast, Austerity = less jobs = lousy GDP = inability to pay off a defecit, its a downward spiral. While the likes of America, UK and Germany are still in a far stonger economic position than either of those two, the same truth rings true, debt = financial slavery if your are not careful. You cant comfortably pay off debt with more debt (like Amercia) and you cant pay it off with total Austerity either (like Greece) 'Economic stagnation' is about the nicest thing we can expect to experience over the next couple of decades. Anyone who thinks we are going to have another '96-2007 type boom' anytime soon is in for a major dissapointment. We may not even see another one like that in our lifetime. I hope for all our sakes (and our childrens sakes.) mankind can somehow muddle though this one without causing too much pain - and still learn its lesson in the process. Last edited by JU_88; 09-30-12 at 07:29 PM.