Should we, or should we not...

[Charles]

Live rich and die poor.

As much as I'd like to see spending brought under control, I'm afraid at this point we have no alternative but to go all in.

And unless the international monetary system is somehow reformed, it probably doesn't matter.

After all, it was designed by the rich to not only screw, but control the poor.

Chas

[noonereal]

Originally Posted by Charles

Live rich and die poor.

As much as I'd like to see spending brought under control, I'm afraid at this point we have no alternative but to go all in.

And unless the international monetary system is somehow reformed, it probably doesn't matter.

After all, it was designed by the rich to not only screw, but control the poor.

Chas

completely correct IMHO

[noonereal]

Originally Posted by BlueStreak

The real controversy behind it all is; What do you cut?

Dave

Cut??? I think the real controvery behind trhis is when do we get serious with taxes?

[CarlV]

I don't see spending out of control near as much as we keep decreasing tax revenue to the point of even being so f**king stupid as to borrow tax relief for those who do not need it nor will spend it to improve the economy. Tip of the iceberg there. We will have no future by not educating our young on a level with the rest of the developed world but budget cuts aren't going to make us more competitive in the job market that way too.

But at least our rich are richer than they have ever been and we fall all over ourselves worshipping them and sacrificing our future for them.

[d-ray657]

Originally Posted by CarlV

I don't see spending out of control near as much as we keep decreasing tax revenue to the point of even being so f**king stupid as to borrow tax relief for those who do not need it nor will spend it to improve the economy. Tip of the iceberg there. We will have no future by not educating our young on a level with the rest of the developed world but budget cuts aren't going to make us more competitive in the job market that way too.

But at least our rich are richer than they have ever been and we fall all over ourselves worshipping them and sacrificing our future for them.

QFT

Regards,

D-Ray

[whell]

Originally Posted by finnbow

But it's our debt and by borrowing it we, as a nation, promised to pay it back.

A proposition that seems more tenuous every day, as our creditors every so often try to remind us. With a budget in 2010 of $3.5 trillion, only about 4.5% went to paying interest on the debt. We're not making any effort to pay down principal. How much longer do you suspect this scenario is sustainable? Maintaining the debt ceiling is not symbolic. It is a step towards forcing some tough choices that will need to be made to get our fiscal house in order.

[finnbow]

Are you suggesting that it's a good thing if we go into default?

[noonereal]

Originally Posted by finnbow

Are you suggesting that it's a good thing if we go into default?

His position on this is ludicrous and juvenile, like a kid that hurts himself when he can't get his way.

Nothing of substance, just an emotionally immature response.

[finnbow]

It would be interesting to hear this issue discussed on its merits (if there are any). I admit a strong bias against it in that it is supported by the Teabaggers and those who insisted upon extending the Bush tax cuts (itself a significant factor in our accrued debt).

[BlueStreak]

Originally Posted by finnbow

Are you suggesting that it's a good thing if we go into default?

"Let it Fail!", Finn. It struck me as interesting when I first heard this mantra being espoused by right-wing pundits so wealthy that they would never miss a meal in a failed America. To me it demonstrated the depth of their concern for the common American. Which is about as thick as the paper this is printed on.

Funny thing is that so many still think that there could be a painless solution..........
Raise taxes, cut programs such as SS or Medicare, or just let the system collapse.......Massive pain to be felt, but little of it to be felt by the Plutocracy. You could strip a billionaire of 99.9% of his wealth and he will still not go hungry. Far from it. Ponder that for a while.

One thing is for sure, no matter how you slice it, none of the bleeding will be blue blood, it will be ours.

Dave