how long before the US goes bankrupt?

[siberianxkiss]

http://money.cnn.com/2005/09/16/news/economy/katrinarebuild/index.htm?cnn=yes

:microwve:

hmmm i wonder where the 200 billion dollars that could have been used went??

[JacksColdSweat]

thats interesting because it was cutting the "unnecessary spending" that was one of the causes of this disaster.

[aminorthreat55]

It's going to happen in my lifetime if the president keeps using his economic team as a sales team to pitch his social security plan. At least we haven't heard that bullshit in a while.

[Rebs]

Hmm soon if we dont stop throwing our money around on social reform shit and if we keep moving industry out of the country.

[dangets]

Bush has turned the Social Security issue into something it should not have been, namely a devisive, polarizing debate over private accounts. it really needs some attention. if you really think people our age are going to collect on it, you've got your head in the clouds, or know something that i've completely missed.

as far as the whole country going bankrupt, as bad a policy as it is, adding to the national debt is something we can handle

[splitsecond]

It's going to happen in my lifetime if the president keeps using his economic team as a sales team to pitch his social security plan. At least we haven't heard that bullshit in a while.
Take a few economics courses.

[VinnyVegas]

Take a few economics courses.
Whenever somebody says "take a course" or "read a book" they don't have a rebuttal for the other person's statement.

[splitsecond]

Whenever somebody says "take a course" or "read a book" they don't have a rebuttal for the other person's statement.
If you say so kid.

[aminorthreat55]

Take a few economics courses.
Been there, done that. Nice try on jumping to conclusions though. Just imagine, one day you might actually get one right. His team is less focused on real economics than pitching his Social Security plan. Why do you think Paul O'Neill left? Because Bush didn't care for his economic thinking, he wanted a group of people who would 100% back his plan regardless of what his plan was.

And since you know so much I'd figure you'd know that the vast majority of economics courses are normative in the economic content that is discussed and mostly concern theory. But I guess you didn't consider that.

[apoemtothedead]

If you say so kid.
Whenever somebody says "if you say so kid"...

[aminorthreat55]

Been there, done that. Nice try on jumping to conclusions though. Just imagine, one day you might actually get one right. His team is less focused on real economics than pitching his Social Security plan. Why do you think Paul O'Neill left? Because Bush didn't care for his economic thinking, he wanted a group of people who would 100% back his plan regardless of what his plan was.

And since you know so much I'd figure you'd know that the vast majority of economics courses are normative in the economic content that is discussed and mostly concern theory. But I guess you didn't consider that.
http://www.economist.com/displaystory.cfm?story_id=3773191

There you go, enjoy that.

[siberianxkiss]

Been there, done that. Nice try on jumping to conclusions though. Just imagine, one day you might actually get one right. His team is less focused on real economics than pitching his Social Security plan. Why do you think Paul O'Neill left? Because Bush didn't care for his economic thinking, he wanted a group of people who would 100% back his plan regardless of what his plan was.

And since you know so much I'd figure you'd know that the vast majority of economics courses are normative in the economic content that is discussed and mostly concern theory. But I guess you didn't consider that.

exactly. the bush administration consists mainly of yes men, no one can disagree with his (read: karl rove and company) policies. look what happened with colin powell

[Cal Smith]

i dont see the US going "bankrupt" anytime soon.

exactly. the bush administration consists mainly of yes men, no one can disagree with his (read: karl rove and company) policies. look what happened with colin powell

Has Powell ever said he was pushed out.............or are you assuming this?

[splitsecond]

i dont see the US going "bankrupt" anytime soon.



Has Powell ever said he was pushed out.............or are you assuming this?
My guess he is he is using everyones favorite equation: ass+u+me

http://www.economist.com/displaystory.cfm?story_id=3773191

There you go, enjoy that.

I am not arguing that Bush wants people who back his plan.... and whether or not you think that is a good idea I guess is a matter of opinion that isnt going to change, especially since you are already vehemently anti-Bush.

My point is that different economists pointed in different directions in regards to Bush's social security plan. The ones who were against it, strangely, were tied to the democratic party, which buys its votes through social welfare. Think about it: the last thing the democrats want is someone to become wealthy and independent, because then they start to vote conservative. Without their massive leveraging tool also known as Social Security, how will they continue to keep senior citizens in check by scaring them into thinking that the evil republicans are going to take away something they are entitled to? If you dont believe this is how they operate, then I will ask my dad for one of his AARP magazines and I will send it to you. You should see the disgusting scare tactics they use against retired people. Its almost worse than the scare tactics they use to try and keep the minority vote in their corner.

And on another note, Paul O'Neill was wrong about the tax cuts anyways. They clearly helped pull us out of the post-9/11 recession quicker than we would have naturally come out. Most people, of all ages, that I knew, were very happy to get their little bonus, and I watched some of them spend it first-hand.

[YouMadeTheScene]

Come on everyone put your hands in the middle. Now on 3...1,2,3..


YEAHHHHHH CAPITALISM!!!!

[siberianxkiss]

Powell disagreed with Bush's foreign policy, even said so in interviews. Pushed out? Well i guess I wont ASSume

[Dan Hollister]

Bankrupt? You think a few billion dollars is going to throw us overboard? The US government handles tens of trillians of dollars a year. We aren't going "bankrupt" anytime soon.

[Cal Smith]

Powell disagreed with Bush's foreign policy, even said so in interviews. Pushed out? Well i guess I wont ASSume

Simply because Powell didnt agree with some of his policies does not mean he was pushed out. You're still assuming.

[aminorthreat55]

Bankrupt? You think a few billion dollars is going to throw us overboard? The US government handles tens of trillians of dollars a year. We aren't going "bankrupt" anytime soon.
A few billion dollars won't throw us overboard, but that amount a few hundred times is going to cause a problem.

“When national debts have once been accumulated to a certain degree, there is scarce, I believe, a single instance of their having been fairly and completely paid. The liberation of the public revenue, if it has ever been brought about at all, has always been brought about by a bankruptcy; sometimes by an avowed one, but always a real one, though frequently by a pretended payment” - Adam Smith

[justinevans]

the world will not have the US go bankrupt...they will keep buying American dollars, a commodity, to keep our money relatively the same. they can't afford if we go down, cause we take everything down with us.