Augen said:
If any other human being had been elected President in 2008 do you think the debt situation would be any different? Do you think the debt will be addressed in 2016? 2020? 2024? |
Yeah I brought it up in a previous post but the debt started to rack up since 1916 and hasn't been fully addressed since then, the biggest part of the debt is still the cold war. But the deficite, which is how much more debt we are getting into has been growing by leaps and bounds since the 80's. Clinton presidency you really cannot tell clearly how much the deficiate was because they were syphoning off of other money that was set aside for programs. (Social Security, Medicare, Medicaid, etc) And this was a common practice then, unfortantly for a lot of people because a lot of people lost their retirement funds because the companies thought "they would make the money back latter".
On a side not on the deficite and the debt. When the tax thing about the rich was going on. A local radio station brought in a economics professor in to talk about it. And he had a nice illustration on how bad it is. He first cut some zero off the end to help people envision how much money we are actually getting into debt. (Because most when you are talking billions and trillions kind of glaze over) He reduced the country's operating cost to about $150,000. Currently the US is only taking in $26,000 in taxes. He then went on to say even if they increase the taxes on every one who make over $250,000 or more to 100% (meaning they are taking all their money), that will only make the revenue go up by $10,000. So increasing the taxes will not work. You have to cut programs, you have to streamline the government, or else we run the very likely possibity of becoming insolvant.
