Deficit wake up call

[Russ79]

This pandemic needs to be a wake up call to all of our elected officials, but it won't. We cannot be in the kind of debt we were in before the corona virus and then be able to have the money to keep our country going until it can get back on its feet on its own. The Democrats want to blame it on the President's "budget busting tax breaks" but if I remember correctly we have been taking in record numbers of taxes the last few years- a result of the President's agenda that put more people to work which means more tax paying citizens. Democrats don't seem to understand simple economics. Spending has to be cut across the board, and I mean real spending not cutting proposed spending increases where they think they have really done something.

[WItoTX]

That will be what crushes the USA. China owns so much of us. We owe so much money, and the non stop printing only makes it worse. How we don't have a balanced budget amendment is beyond me. Probably because citizens would be shocked at the waste the government creates.

I've always said, want to reform taxes? Make people write a check each month to the government. I give it a month before people would ask *** is going on. Both parties would be crushed.

[flywise]

That will be what crushes the USA. China owns so much of us. We owe so much money, and the non stop printing only makes it worse. How we don't have a balanced budget amendment is beyond me. Probably because citizens would be shocked at the waste the government creates.

I've always said, want to reform taxes? Make people write a check each month to the government. I give it a month before people would ask *** is going on. Both parties would be crushed.

[HoustonHunter94]

I don't think people realize the staggering amount of Gov waste, fraud and flat out stealing of tax dollars. If more people knew and understood this, there might be a call to action. Instead it just goes on unchecked to the point we will never get out of it. Depressing.

[Clay C]

This pandemic needs to be a wake up call to all of our elected officials, but it won't. We cannot be in the kind of debt we were in before the corona virus and then be able to have the money to keep our country going until it can get back on its feet on its own. The Democrats want to blame it on the President's "budget busting tax breaks" but if I remember correctly we have been taking in record numbers of taxes the last few years- a result of the President's agenda that put more people to work which means more tax paying citizens. Democrats don't seem to understand simple economics. Spending has to be cut across the board, and I mean real spending not cutting proposed spending increases where they think they have really done something.

Anyone who thinks the government has a revenue problem is either really dumb or really greedy. They're politicians, so probably both.

[DaveC]

I'm convinced neither party could give two flips about the debt.

It's never mentioned and they pile it on like there's no end in site.

When was the last time we've heard the solvency of Social Security being discussed?

[LWC]

[QUOTE=DaveC;14973675]I'm convinced neither party could give two flips about the debt.

It's never mentioned and they pile it on like there's no end in site.

When was the last time we've heard the solvency of Social Security being discussed?[/QUOTE]

Years..

[Smell the Glove]

I'm sure it will suddenly be important again in 2024...

[rtp]

Do you really ever think "we" intend to pay back what we owe. This is all a funny money game around the globe. The US is still situtated far better than any country around the globe. Hell we just printed 6 trillion dollars and the value of the dollar went up. That tells you that in a crisis the world still wants to own as much USD as possible. It is viewed as a sage haven. If you have 40 minutes give this a listen....if you have an additional 15 minutes listen to the Q&A session afterwards.

http://www.youtube.com/watch?v=8Kkf4JUs--M&feature=youtu.be

[Rcole1310]

Deficit wake up call

It’s the greatest threat to the country there is. Totally swept under the rug. Personally, I believe you never hear anything about it because it’s not a wedge issue. It’s hard to divide people over it so it can’t be used politically. Therefore there’s no upside in discussing it. At some point, the bill will come due.


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[coldgas]

My son works in the lending department at a bank in Amarillo. He said the last 2 weeks they have been processing a record amount of loans. It's very scary times we live in.

[WItoTX]

My son works in the lending department at a bank in Amarillo. He said the last 2 weeks they have been processing a record amount of loans. It's very scary times we live in.

What kind of loans? I read an article the other day saying consumer debt is way down.

[coldgas]

What kind of loans? I read an article the other day saying consumer debt is way down.

I didn't ask. I speculate they are business and operating loans.

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[DaveC]

My son works in the lending department at a bank in Amarillo. He said the last 2 weeks they have been processing a record amount of loans. It's very scary times we live in.

Had a conversation last night at Bible study- on one hand people are laying off and those out of work aren’t finding jobs, on the other hand homes in our area are selling within hours of going on the market for thousands above asking price.
Interesting times.


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[iamntxhunter]

We are headed to an economic structure of rich or poor just like Mexico.