You could fund “entitlements” Stuff we paid for, for a long time on the trillions Obama has funneled to cronies
Remember how congress screeched about the 160 mil in banker bonuses for a full month, while they shoveled 780 billion in printed IOUs to them?
While I admire him for pointing out the elephant in the living room, it’s futile thinking that this DISASTER around the corner will be handled in an adult manner.
...after all, half of the geezers on this site are all for cutting spending, as long as THEIR precious Social Security is not touched. And these are otherwise conservative people. For the rest of the country, it’s more like 95% of the people.
...so it’s over...all but the economic crash. Hopefully we’ll keep enough military capability around so we don’t get messed with, but even that’s in doubt each day Obama stays in office.
Bummer, I have kids.
Which raises another question: What would America’s creditors be willing to do to prevent this “default” from happening and protect their investment?
America will default? Look to CA first to see how it will look nationwide. We’ll show you how it’s done.
So many entitlements...Department of Education, Department of Energy, EPA, DHHS, Arts funding, HUD, Department of labor...
All these unconstitutional entitlements must go before they steal the money people and their employers paid into for medicare and social security.
There can be more than one simultaneous course.
I vote for 2 and 3 simultaneously, hoping the pressure relief will be adequate to reduce the debt by devaluation before the thing actually blows up.
My only recourse is to plan for devaluation/inflation. Finding a course ...... that is the problem
Bump.
sfl
not stupid..but no conservative...not sure what he is..a Californian..lol
I hear you're thinking about voting Democrat for the first time in your life. Why? I had a publicized stance against the war, which is part of it. I don't think Bush's preemptive invasion of Iraq was justified. And the facts make that more emphatic now. But the real bone I have to pick is with tax policy. The Republican policy is to lower taxes for the rich, and I think he's gone too far. The Democrats believe that too, so I might pull that lever for a Democrat. But that's eight months away.
If you want the full Bill Gross newsletter it is free at this link http://bit.ly/g3kiUr
Gross has just laid out why he dumped Treasuries. Too bad China and others are reading what he has to say and what he actually did—— dumping them. Sad for America
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