Remember when Clinton left office [it was only 11 years ago], we had budget surpluses and projected surpluses into the foreseeable future [per the Congressional Budget Office]. So the solution to the deficit is obvious: We reverse all of Bush's and Obama's policy decisions and end the wars by the end of the week. We can't get back the money that's already been spent, but that should help the current deficit. Then, we'll pretend that Bush and Obama had never been born. Unfortunately, we'll have another trillion to spend on the soldiers who come back claiming disability due to emotional problems.
Here is my simple solution to this complex problem:
1. Float credit card rates at 10% over prime as a maximum rate. Too many poor people are paying up to 29.99% interest. They would have hundreds more a month in their hands , which they would spend. Billions would pour into the ecomomy.
2. Allow large US companies to bring their foreign profits back into the United Stes with no penalty. They currently are keeping it overseas and spending it on expansion and foreign workers.
3. Extend payroll taxes to 100% of slalry , howver, do not require the employer to match the SS contributions over a set amount.
Any other solutions Please comment
I'm not defending Obama either.
What did the Repub Presidents accomplish? Reagan won the Cold War? Sounds like propaganda. As I write this, we still have thousands of nukes pointed at us, so what did he win? I'll tell you one thing he did do: Three times we were attacked by terrorists during Reagan's terms [the first was the 238 Marines killed in the barracks bombing in Beirut], and three times Reagan offered no retaliation. He tucked tail, and ran ... we just picked up and left Beirut. His actions convinced el Quida that we could be attacked without consequences. Reagan empowered the terrorists. He sure took care of Grenada, though.
That will not change the fact that the fed has been propping up the US economy for the last 15 years by creating economic bubbles which has allowed everyone's salary to increase to a level that the economy no longer generates enough revenues to support all of us at full employment.
The only way to solve the problem quickly is to stop paying unemployment benefits so that wage competition that would result would create a new salary equilibrium at which point we could have full employment. Right now the unemployed are essentually collecting social security for all practical purposes. They are retired and will continue to be as long as we let them.
Also getting China to increase the value of their Yuan would help with our export / import situation and create jobs. Our economy cannot survive in a world were countries have almost the equivalent of our technology but can produce products at half the price. That is a formula for our eventual decline into nothingness. We need to balance that situation as well.
Unfortunately these solutions are painful. But the fact is that the world resources represent a large pie from which twice as many people are now sharing. Eventually everyone in the world has to be making the same salary or the only people who have jobs will be the people whose governments has depressed their wages via currency manipulation so that they can take market share way from others. If we allow that to go on forever then they will have all the pie and we will have none of it.
Another Urban Myth propogated by the left.
Clinton never had surpluses. If he did, why did he have to go and increase the debt limit eight times?
"Another Urban Myth propogated by the left"
Wow right wingers are stupid. Is it any wonder Fox Noise viewers are the most susceptible to propaganda ... or is it "propoganda?"
If we did have literacy tests for voting that would be the end of the Republicans and especially the TP.
You have that right. Putting aside legitimate claims, the docs go through extensive(hours) exit exams on service folks to document ANY and EVERYTHING that might be ailing them B4 they leave the military. This way they can claim disability and associated benefits(free VA health care, free child education, etc) for the rest of their and their children's lives.
These claims are hard to question especially headache, emotional stress, etc. Anything from hemorrhoids to hair loss, to hangnails can qualify on the physical front. Doesn't matter if they've been in the field or behind a desk(although being behind a desk outside Baghdad counts for more), it all qualifies.
One of my relatives was behind that desk for 3 months. He gets over $2000/month with C.O.L.'s for the rest of his life, from headaches and stress.
Multiply that times over 100,000/Month and that is 2.4B/year just in payments, then add health and welfare(self and children's ed., etc.) for another 6B/ year for 8.4B/year. Not quite the Trillion but expensive enough!
1. The solution is and always has been obvious. Charge every country where we station troops for every penny we spend "defending" them or pull our troops out. Is S.Korea broke? Is Germany Broke? What about Japan, the third largest economy in the world. Hey Iraq should be selling us oil for a $1.00 a barrel until we get our Billions back, with interest. Afghanistan has lots of poppies don't they. (I hear they make good use of the seeds on bread-crust).
2. Tell the Chinese to devalue their currency or we will put a tarriff on their goods for shall we say, 20%?
Or.., let's really push the reset button on the Chinese and actually default on our bonds they hold. What are they going to do? Hell we could make a deal, we'll trade Taiwan for what we owe them. They will take over the island one day anyway, so we might as well get something for it and no war in the bargan... so we save gazillions of dollars and no lives lost. If that upsets you, lets tell the Taiwanese that we will not defend them, unless they become the 51st state. I could go on and on but you get my drift...