Posted on 08/06/2011 4:04:09 AM PDT by SkyPilot
As I was watching the "spin" on MSNBC, CNN, and almost every other cable show last night regarding S&Ps decision to downgrade the soverign US credit rating for the first time in our nation's history, it was amazing to me that every liberal commentator and every Democrat appearing on the shows avoided the monster in the room at all costs:
ENTITLEMENTS
Entitlements are breaking the back of this nation. During the debt deal and its aftermath, Democrats made it clear they would not budge (or even address) the crippling effects of Medicare, Medicaid, or Social Security.
S&P's report did - right up front. In fact, it mentions Entitlements as the biggest problem.
Funny how the Lamestream Media missed that language, considering it is on the front page of the PDF document that S&P released on Friday night.
_____________________________________________________________________
Rationale
We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that further near-term progress containing the growth in public spending, especially on entitlements, or on reaching an agreement on raising revenues is less likely than we previously assumed and will remain a contentious and fitful process. We also believe that the fiscal consolidation plan that Congress and the Administration agreed to this week falls short of the amount that we believe is necessary to stabilize the general government debt burden by the middle of the decade. ...Despite this year's wide-ranging debate, in our view, the differences between political parties have proven to be extraordinarily difficult to bridge, and, as we see it, the resulting agreement fell well short of the comprehensive fiscal consolidation program that some proponents had envisaged until quite recently. Republicans and Democrats have only been able to agree to relatively modest savings on discretionary spending while delegating to the Select Committee decisions on more comprehensive measures. It appears that for now, new revenues have dropped down on the menu of policy options. In addition, the plan envisions only minor policy changes on Medicare and little change in other entitlements, the containment of which we and most other independent observers regard as key to long-term fiscal sustainability. Our opinion is that elected officials remain wary of tackling the structural issues required to effectively address the rising U.S. public debt burden.
They can be dropped out right away. The problem facing this farce of a system is the massive increase in recipients from the baby boomers retiring. As many of those, of whom I am one at age 59, must be encouraged to leave the system. Then, work on reducing benefits to newer recipients until the system dies off. The system must be ended. It is nothing more than Governmental theft.
please don’t resort to “do you have some college” You Fu##ers got us into this mess, congrats educated one.....
Proverbs 26:4
If Congress and the President followed Congressman Paul Ryan's plan, there would at least be hope - and that doesn't even call for current entitlement cuts!
I would reduce spending on entitlements by 2% for current recipients for the next 5 years, raise the retirement age to 68, and stop paying any entitlements to illegals. That alone would balance the budget in about seven years without doing anything else, including no tax increases.
But - like you said, it won't happen.
Congressman Ron Paul (R-TX) has it right - the government has decided people will still get "their checks"; but they won't buy anything. The reason is that our government has decided to take the path to hyperinflation, and we are well down that road already.
But it gets worse. Much worse.
Now that we have lost our AAA rating, the annual interest we pay on that soon to be $15 Trillion debt will be higher. Much higher. That will eat up even more of the budget. How much?
No one is sure. We are now in uncharted waters.
It could go as high as 4 x the current payments.
Very soon, our nation could be in a crisis almost overnight.
And....we can thank the entitlement mentality for taking us to Hell itself.
listen Skypilot, you get me back all I have paid in with the interest ... you can cut me off and never again have to answer the fool that thinks his money he earns belongs to him
The major problem is that even many conservatives, especially elderly conservatives, don’t understand how much the government has to cut to balance the budget. I’m all for cutting benefits to illegals. That isn’t enough. Show me some numbers and I’ll be happy to root through them and explain where I was wrong.
Just this simple comparison, 131 million Americans working in private industry vs. 50 million retired elderly, makes it pretty clear, I think.
Some. Some publications in the international journals solving harmonic equations with nonlinear boundary conditions but like whatever.
My dear grandson, that grew up in my home - is AIRBORNE - with the famous 173rd 2/503rd . Ever hear of “RESTREPO”?
He was in it - was in that ‘most dangerous place on earth’ for 15 months...then back for a second tour in the ‘ghan...
His father, my son, is a former MARINE - Viet Nam.
My brother is a retired Sub man.
My son-in-law flies C-130’s.
I have posted long and often about this POS CICINO and his attempts to cheat our troops - not to mention his new ROE that have resulted in DOUBLE our KIA in 2009; TRIPLE in 2010 and on the way to being FOUR TIMES as many this year. (and the media is silent. And the Sheeple are silent. I have posted and posted on this - I'm sure you have too - uh huh...NOT)
So stuff it.
This is one of the first insane actions against our troops this Puppet Who Would be King tried to pull. Even John Stewart was insensed - and even the democrats. It went down in flames fast.
You remember this - of course you do. You wrote and objected to this too - of course....
http://www.thedailyshow.com/watch/tue-march-17-2009/that-can-t-be-right-—veterans—health-insurance
Nice manners you got there. What else?
You remember this - of course you do. You wrote and objected to this too - of course.... http://www.thedailyshow.com/watch/tue-march-17-2009/that-can-t-be-right-—veterans—health-insurance
I have no flippin clue what you are talking about.
But let's talk brass tax: folks getting Social Security and Medicaid are afraid they will lose money in their wallet. I can understand that, and appreciate their misgivings.
But make no mistake, it is those very entitlements that are going to be the cause for coming Great Depression that is right on our doorstep. I predict there will be a MASSIVE stock market crash next week, and that will only be the beginning. The Fed will do what it always has done - harm. It will launch QE 3, and start printing money, causing hyperinflation. The interest we pay on the debt may quadruple overnight, eating up a ever growing slice of the pie which is the Federal budget. China just told us today that our days of borrowing money from them are over. Russia will soon succeed in getting the US Dollar removed as the world's reserve currency. That means our now worthless dollars won't be able to buy oil in dollars, but in the new currency that is the Reserve - and our prices at the pump will skyrocket to unimaginable sums.
But, you will get "your check." The Democrats will assure that.
It just won't buy anything - and the entitlement crowd will drag everyone into the abyss with them.
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