world's dumbest government borrows $578 billion in 3 weeks

People and this debt fear. The US could pay off its debt overnight using some of its assets. It does not have to nor, does in need to. In particular since it owes most of the debt to itself. Nations have debt it is the way of the world. We had two long wars and a depression neither of which were budgeted for. So we will be paying those off for a long time. Even with the annual deficit being reduced over the last few years and tax income rising.

Spending wise where do you cut? You want to cut unemployment, welfare, Social Security etc? Well that is only 3% of the budget so even if you cut it all it will have almost no effect other than lots more homeless. Medicare and health? That is still only 6% of the budget. So where does all the money go? When you look at the Federal spending 54% of it goes to the military with and additional 6% to Veterans benefits. So 60% of our spending is eaten up by the military machine. Now this is place we can have some cuts. Smart cuts. The problem is Congress likes to build systems the military does not want, because that system or parts of it are built in that battle ground district. The Military gets stuff its does not want and then has to pay to maintain it. Cutting into that pork, will get results. Same problem with base closures, bases are kept open the military does not want because they are in the right congressman district. The US Air Force is the largest in the world by far. The second largest Air Force in the world belongs to the US Navy. Their are 20 aircraft carriers in the world 10 belong to the US, 8 belong to US friends and allies. The few, the proud, the US Marine Corps is larger then the entire UK Army and larger than the entire Israeli Defense Force. The US though treaties and alliances has mutual defense pacts with 50 nations.

With some smart cuts to the sacred cow of military spending and letting some of the tax cuts end we could make a big dent in our debt. That however is not going to happen. Not until the debt becomes a real problem. I suppose at that point the US could just sell off some mineral rights and pay it off in cash instead of getting on top of some that defense pork spending.

a reply to: introvert

That is EXACTLY what the Scotus said.

In a 5-4 decision, the U.S. Supreme Court ruled there was no contractual obligation for the government to pay out Social Security benefits to Nestor.

The 1960 Flemming vs. Nestor case Jolly cited indeed said citizens don’t have a right to Social Security benefits, no matter how long they paid into the system. Congress can change the rules how they see fit, as long as they follow due process. We rate the statement True.

www.politifact.com...

SS is a WELFARE program.

IF a person funded 100% of the benefits they receive then it wouldn't be.

But there are several someone else's foot the bill.

From the employer to new people. To raising taxes, and creating new taxes.

That is when they are not printing money out of thin air.

Or raising the limit on how much they can spend when they can't already fund what they have.

DEAL.

a reply to: neo96

Why are you using a case in which a person was suing the Federal Government for not paying SS benefits after he was deported?

All you are highlighting is the issues that need to be changed about the system, not that it is a welfare program.

Honestly, your posts are a bit hard to read as they make very little sense. I'm not sure if you are misunderstood or if you are trying to be a mental gymnast, but SS in not welfare. Is a 401k also welfare?

a reply to: introvert

Social security is considered a welfare program mostly because the amount you pay in has no bearing on the benefits you recieve.
Work to 70 die at 71 and you get very little in ss payments.
Use a 401k for 40 years and die a year later and your beneficiaries recieve your money.

It's just a tax that you might benefit from eventually.


Here is a good article explaining the difference..
fff.org...

a reply to: Bluntone22

Yep, most people aren't even aware that the way the SS program was originally set up was that you couldn't even begin drawing your SS until you had lived about five years past the average life expectancy. So the idea was that you paid in all your productive life and most likely wouldn't live long enough to collect, and that's how they were to keep it solvent.

originally posted by: Bluntone22
a reply to: introvert

Social security is considered a welfare program mostly because the amount you pay in has no bearing on the benefits you recieve.
Work to 70 die at 71 and you get very little in ss payments.
Use a 401k for 40 years and die a year later and your beneficiaries recieve your money.

It's just a tax that you might benefit from eventually.


Here is a good article explaining the difference..
fff.org...

I understand that and it is a very unfortunate aspect of SS that needs to change, but it is not welfare, as people do pay in to it and it is not a freebie.

By it's very definition, it is not welfare.

originally posted by: dashen
But how will they ever pay it back?
How?
¿ HOW ?
My bet is on another huge war

Your children, grandchildren and great-grandchildren in this act of generational theft. Stop and think about the moral depravity of stealing from people not even born yet cursing them to be born into an entire life of slavery so this generation can have all its toys.

originally posted by: neo96

$600 billion in a military budget in a time of peace... that's the U.S. Miltary Industrial Complex for you.

What ever.

We spend more on the WELFARE INDUSTRIAL COMPLEX than anything else.

We are currently spending triple 600 on the big three sacred cows the progressives love so much.

Social Security,Medicare, and Medicaid.

www.usdebtclock.org...

Not including interest.

"What-ever."

What are you, a sixteen year old girl?
HMPH. What-Ever!

You use the world welfare, yet you have no idea what it means.

People pay into these things, you dunce.

Go read a book with pictures.

Debt, borrowing, interest, waste, it's all designed as part of a conspiracy to prevent a "Utopia" from emerging. A productive country can afford to educate every member of that society to the highest levels, and turn each and every one of them into the most productive individual for that society. A productive country can afford to pay for universal healthcare and social security for the most vulnerable and elderly. A productive country where these systems do not operate for profit, but for the society, to make it the best it can possibly be, where everyone meets their full potential and the country supports them in that for the common good. The whole system is designed to keep the people struggling and ignorant and deny them this "Utopian" society. And so we have inequality, poverty, mental illness, crime, etc. as a result.

Here is an interesting video that uses factual data to back up the idea that inequality is the cause of most of society's ills.

Oh but if you want to change society in favour of the people and society rather than in the favour of corporations, banks, shareholders, etc. then you are an evil socialist equal to Stalin. Quite the conspiracy.

Good luck with them #s.

Neo96 has a real hard on for social security. I get disability now but when I was working I was bringing home around $800 a week. I now bring that home in a month. I don't even recall how much they took out of my check for SS. I didn't care about taxes SS or any of that when I worked. I always just looked at the dollar amount I had to spend. I've always looked at what I had not what I didn't. Now my buddy all he does is cry about taxes this and welfare that. He brings home $2000 a week and he cries contently about the government sticking it's hands in his pockets. All he does is sit there and push buttons all day.

originally posted by: zerozero00

originally posted by: jtma508
The reason for this is because we had reached our debt ceiling so borrowing was back-burnered. Once the debt increase was approved by Congress, scheduled borrowing hit the books.

Thanks for that, it makes it so much easier to swallow after you explained the reason...phew, and I thought America was just crippling it's self and getting ready for another planed and orchestrated debt crisis

It's the American populous's fault for living beyond their means...don't blame the bankers and politicians for wrecking your lives


Fyi a bit of sarcasm above!

The American people tripling credit card debt between 2012 and now is living beyond your means. Our national debt is not the result of living beyond our means, it's the result of having a budget that can't realistically be cut any further, and is in desperate need of tax increases, but is only met with cries of more tax cuts by the party that unanimously took a pledge to never raise any tax for any reason.

originally posted by: ketsuko

Governments have the same rules as your household you know, just that everything operates on a larger magnitude and no one will offer you a shelter when your debtors hold a giant fire sale auction for your stuff.

They really don't. Government income/expenditure is in no way comparable to a household.

originally posted by: ScepticScot

originally posted by: ketsuko

Governments have the same rules as your household you know, just that everything operates on a larger magnitude and no one will offer you a shelter when your debtors hold a giant fire sale auction for your stuff.

They really don't. Government income/expenditure is in no way comparable to a household.

States do, but if you're a government that can create it's own money, then all the rules change.

The reason for your country's horrific debt is a fairly simple one, being that almost without exception it is led by complete and utter ****ing morons. Morons that are corrupted and controlled by corporate interest, no less.

But the TPP will fix your economic problems, promise. And you'll drag my country down with you...

Honestly, what needs to happen is for the federal government to start printing its own money. Like the constitution says it can. Rather than each dollar printed having interest attached. Well, it's a start at least. JFK tried that. He died. So did Linkin. He died too. Corruption, corruption, corruption. The US is an Oligarchy/Fascist Nation, and has been for quite some time.

You get money out of politics, the politicians start working for the people. The politicians start working for the people, they stop making ridiculous decisions. They stop making ridiculous decisions, the world becomes a better place for the vast, vast majority of the population. Not a hard train of logic, really.

a reply to: Aazadan

Well the answer is to tax the wealthy and close loopholes for corporations to avoid paying tax...and maybe even cut your defence budget, then you won't need to borrow 600 billion from the people that avoid paying tax via dividend share holders...simple really

Oh, and your ridiculous War on Drugs and prison system. You have more prisoners than CHINA for god's state. An authoritarian country three times your size. Oh, I mis-spoke, four times your size.

originally posted by: zerozero00
a reply to: Aazadan

Well the answer is to tax the wealthy and close loopholes for corporations to avoid paying tax...and maybe even cut your defence budget, then you won't need to borrow 600 billion from the people that avoid paying tax via dividend share holders...simple really

All three are things that more than half the members of government, and half the people who vote are strongly opposed to doing.