This is really a humorous thread. D or R they are ALL squandering our grandkids futures.
I do not know if anyone has noticed but we have just added TRILLIONS of dollars of debt in the past couple of weeks.
Unless we have leadership to pay this new debt (that means higher taxes and spending cuts) our nation will go bankrupt. None of us want higher taxes, but we must pay our debts off or our money will be (more) worthless.
Well said! And, anyone- if you get a chance (esp. once it comes out for rental) go see I.O.U.S.A. the movie. (It really should be called U.S.A.OWES.CHINA at this point), or better yet, read or google a book such as Petersen's
Running on Empty. As for the post that Obama's ramp up in federal spending will "force" a cutback in other entitlements- not likely. Just as Republicans have learned to cast a wider net with tax cuts "no matter what" while avoiding spending cuts, Dems have learned to increase spending without increasing taxes enough to enrage the taxpayer. The equivalent of our racking up a massive credit card bill issued to a grandchild.
The fiscal train wreck, projecting to $55 trillion or more over 50 years, builds gradually and really ramps up (baby boom retirements full stream) after the next two prez terms. Whoever wins needs to be a "bad medicine" guy who is willing to be a one termer if need be. Unfortunately that's not likely with these panderers, in which case we'll see more and bigger "automatic", violent adjustments to the teeter tottering system as is now going to happen with the forever "lost" RE bubble (=the house that Greenspan built).
The irony is that even with these bailouts, financing the current way out of the crisis is tiny versus the scale of the mess down the road, and if these rescue packages were firmly linked to a massive, long term (and gradual) reduction in entitlements, everything could work out fine- painful, but fine in the end. But no one will step up to the plate, and the public prefers to reward panderers while conserving their precious brain cells on things like round the clock coverage of celebrity DUI's, the trailer park parent of a missing toddler in Florida, etc..
Re Uncle Warren- I stand corrected. Thanks to Warren's endorsement, I am not as worried about Obama as I used to be, but it doesn't change my mind. Plus, Warren is a lifelong Democrat, stands to have BH actually benefit from higher cap gains taxes because of its strength in older, established companies, and in any case, Warren doesn't dislike McCain, in fact he was his favorite within the Rep field.
http://www.thestreet.com/_aol/s/why...L&cm_cat=Free&cm_pla=Feed&cm_ite=Feed&puc=aol&