ECONOMIST TO CONGRESS: AMERICA IN DEEP TROUBLE, $210 TRILLION IN DEBT

[rocketman]

When you hear the liberals & RINO's speak of America's debt you always hear $20 trillion & gasp! The reality of America's fiscal situation is much more dire as was explained to the senate budget committee this week by Boston University economist Laurence Kotlikoff. He goes on to testify the dire state of the U.S. economy and puts us in the category of Greece or Itally which by the numbers are in better shape than we fiscally when comparing Italy & Greece's 175% debt to GDP to America's 211% debt to GDP or $18.2 trillion. We are on track to turn America into one big Detroit at this rate. So, with the national debt along with unfunded liabilities our real debt nationally is at $210 trillion....Gasp! :shocked:

http://overpassesforamerica.com/?p=6028

 

[rocketman]

Maybe we need more govt programs, or to import millions more illegal low skill workers from foreign countries to tax the govt programs further. :think:

 

[Angel4Truth]

Maybe we need more govt programs, or to import millions more illegal low skill workers from foreign countries to tax the govt programs further. :think:

And we need to keep paying farmers not to farm while also importing what we are paying them not to farm.

We need to also get rid of more manufacturing jobs to countries that steal our intellectual property and use child labor for pennies a day.

Oh and further increase trade deficits

 

[rocketman]

And we need to keep paying farmers not to farm while also importing what we are paying them not to farm.

We need to also get rid of more manufacturing jobs to countries that steal our intellectual property and use child labor for pennies a day.

Oh and further increase trade deficits

But don't you understand Angel? if we don't have third world nations manufacture for us, U.S. companies would have to hire Americans which would not be good for the bottom line.

 

[rocketman]

The inconvenient truth of where liberalism is leading our country...straight to the poor house.

 

[Saved.One.by.Grace]

I read this thread with keen interest since my UK owned company wants us salaried folk to outsource at least three activities per salaried person to India. Is outsourcing to India any better than outsourcing to China? I'm pondering this while I eat my blueberries and grapes from Chile.

 

[rocketman]

I read this thread with keen interest since my UK owned company wants us salaried folk to outsource at least three activities per salaried person to India. Is outsourcing to India any better than outsourcing to China? I'm pondering this while I eat my blueberries and grapes from Chile.

Outsourcing is only piece of the puzzle, it has more to do with our entitlement structure and the assault against it, virtually no immigration laws while floods of illegal immigrants come across our borders, companies putting people to work in high tech jobs that are not U.S. citizens (India), while all these people put more drain on an already strained system. It seems to be a boon for companies to operate in this fashion but, it is killing this country & the American worker, white & blue collar alike. Conscripting foreigners to do American work is only putting the U.S. deeper in the red. That is why wall street is up and the average American is barely getting by. America is borrowing much more than it is taking in and if it does not stop it will eventually collapse.

 

[Nimrod]

Outsourcing is only piece of the puzzle, it has more to do with our entitlement structure and the assault against it, virtually no immigration laws while floods of illegal immigrants come across our borders, companies putting people to work in high tech jobs that are not U.S. citizens (India), while all these people put more drain on an already strained system. It seems to be a boon for companies to operate in this fashion but, it is killing this country & the American worker, white & blue collar alike. Conscripting foreigners to do American work is only putting the U.S. deeper in the red. That is why wall street is up and the average American is barely getting by. America is borrowing much more than it is taking in and if it does not stop it will eventually collapse.

An employer should have the right to hire anyone he wants. In a free market society, an employer can put on the market a contract for work. Bidding happens. He finds India giving him the best price. So he hires India to do the work.

You obviously do not want a free market society. You sound like a republican.

 

[rexlunae]

Maybe we need more govt programs, or to import millions more illegal low skill workers from foreign countries to tax the govt programs further. :think:

Yes, and how about a couple more unfunded wars. And some tax cuts.

It's been right-wing policies that have been driving us into debt the last three decades or more. Only Democrats have been able to come even close to balancing the budget, because they understand that there is such a thing as spending to save and because they understand that you have to pay for things, no matter how much you want them for free.

 

[Nimrod]

Only Democrats have been able to come even close to balancing the budget,

You sounded almost intelligent until this last statement.
What war did Obama get us out of exactly? I don't know of any. I do know he started some on his own.

 

[musterion]

An employer should have the right to hire anyone he wants. In a free market society, an employer can put on the market a contract for work. Bidding happens. He finds India giving him the best price. So he hires India to do the work.

You obviously do not want a free market society. You sound like a republican.

Are you for or against forced unionization?

 

[Saved.One.by.Grace]

An employer should have the right to hire anyone he wants. In a free market society, an employer can put on the market a contract for work. Bidding happens. He finds India giving him the best price. So he hires India to do the work.

You obviously do not want a free market society. You sound like a republican.

You sound anti-union wanting to send all our jobs overseas.

 

[rexlunae]

What war did Obama get us out of exactly?

Just a program note, but I never said that he had. I might argue that he kept us out of a war with Iran that a lot of wingnuts in both countries really, really want. But the history hasn't really been written on that yet.

I don't know of any. I do know he started some on his own.

Such as? Libya? Pretty small engagement when weighed against the alternative, or when weighed against other wars. I wish we'd done more, and we may yet regret not doing more. And it's not a driver of the deficit as the wars in Iraq and Afghanistan were and continue to be.

The grown-ups have left the Republican Party. They think you can have tax cuts and massive wars. It's only when we want to spend money on the kind of things that would make us wealthier as a nation that they seem to find their thrift.

 

[Angel4Truth]

The inconvenient truth of where liberalism is leading our country...straight to the poor house.

And thats the truth, and they act like they dont know how to fix it, there is a reason when those in office go in are of meager or upper middle class means to millionares when they leave office.

Its their own bottom line that they are lining, to hell with the rest of us.

 

[The Barbarian]

When you hear the liberals & RINO's speak of America's debt you always hear $20 trillion & gasp! The reality of America's fiscal situation is much more dire as was explained to the senate budget committee this week by Boston University economist Laurence Kotlikoff. He goes on to testify the dire state of the U.S. economy and puts us in the category of Greece or Itally which by the numbers are in better shape than we fiscally when comparing Italy & Greece's 175% debt to GDP to America's 211% debt to GDP or $18.2 trillion. We are on track to turn America into one big Detroit at this rate. So, with the national debt along with unfunded liabilities our real debt nationally is at $210 trillion....Gasp!

You mean when Reagan and Bush said deficits didn't matter, they were wrong? :mmph:

Back in 1980, Reagan said it would be fine to cut taxes for the rich and increase spending. It would cut the deficit, he said. Now you tell us that supply-side is wrong?

The good news is that the Congressional Budget Office has taken a harder look at the data:

Unless the republicans win the WH and go on another Reagan/Bush style borrow-and-spend spree, I'm unlikely to live long enough to see the deficit rise as high as it was when I was born.

Unless.