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Old 03-02-2008, 12:22 PM #1
scumquat1
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Disaster, Dead Ahead

About a month ago the US Department of the Treasury released its "Citizens' Guide to the 2007 Financial Report of the United States Government" and it got relatively little coverage in the media. Of course, Britney's shaved head was a more important story for most people.

I know the report sounds like a pretty dry stuff, but every citizen should care a great deal about what it says. The first line in the report is: The Government Is On An Unsustainable Fiscal Path in bright red letters.

"Unless action is taken to bring program cost in line with available resources, the coming surge of entitlement spending will end in a fiscal train wreck that will have an adverse effect on the U.S. economy and on virtually every American," the report says.


Here are some key dates we can all look forward to:
In 2007, Medicare Part A benefit payments began to exceed the programís tax revenue. This already happened boys.

In 2011, the Medicare Part A Trust Fund begins to decline as benefits exceed payroll taxes and trust fund interest. In only 4 years, Medicare is essentially bankrupt.

In 2017, Social Security benefit payments will begin to exceed the programís tax revenue. In about 9 years, Social Security is essentially bankrupt.

In 2019, Medicare Part A Trust Fund assets will not be enough to pay full benefits. Under current law, benefits would be reduced to 79 percent of scheduled benefits in 2019, declining to 29 percent by 2081. In 11 years, full benefits can't be paid on behalf of Medicare recipients.

In 2027, Social Security Trust Funds begin to decline as benefits exceed tax revenue and trust fund interest. More bad news.

In 2040, federal debt held by the public will exceed the historical high of 109 percent of GDP. At this point it's really ugly.

In 2041, Social Security Trust Fundsí assets will not be enough to pay full benefits. Under current law, benefits for all retirees would be reduced to 75 percent of scheduled benefits in 2041, declining to 70 percent by 2081. Say goodbye to Social Security.

In 2080, total government cost will be more than three times revenue.
This obviously can't be sustained.

You should all read the summary report:
http://www.fms.treas.gov/frsummary/frsummary2007.pdf


For the TL/DR retards: If we don't reduce government spending very soon, the world as you know it is going to end.
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Old 03-02-2008, 12:34 PM #2
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Yes we can?
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Old 03-02-2008, 12:53 PM #3
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the world as you know it is going to end.
Can't wait
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Old 03-02-2008, 12:56 PM #4
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Old 03-02-2008, 02:30 PM #5
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fixed
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Old 03-02-2008, 02:41 PM #6
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We're ****ed.
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Old 03-02-2008, 02:45 PM #7
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Old 03-02-2008, 02:58 PM #8
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fixed
A thread about out of control government spending and programs.

A man whose goal is to eliminate out of control government spending and programs.

Explain the dodgy.

To me it seems like to deny a vote for Ron Paul would be to completely ignore the problems presented in this thread.
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"Originally posted by so_FLY: i've heard one beer adds .1 to your BAC, so he had 79 beers?"
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Old 03-02-2008, 03:03 PM #9
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lol.

Thats all assuming nothing changes, at all.

I seriously doubt the incompetents in power would be that stupid, even if they are slobbering, greedy pigs.
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Old 03-02-2008, 03:25 PM #10
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lol.

Thats all assuming nothing changes, at all.

I seriously doubt the incompetents in power would be that stupid, even if they are slobbering, greedy pigs.
It does mean in the least that our current standard of living is likely to continue its decline.
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Old 03-02-2008, 03:34 PM #11
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Fixed.
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Old 03-02-2008, 03:50 PM #12
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a vote for ron paul is a vote for civil liberties.
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Old 03-02-2008, 04:01 PM #13
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The majority of Americans don't give two ****s about "their" economy,
these people are more interested in making sure that their views are met-
****ing pathetic people!
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Old 03-02-2008, 04:29 PM #14
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So if the federal government is super weak then California can finally secede from the union? YES!

I propose that we get Nasa to make a Category 8 Hurricane and make it hit the entire south area that is being parasitic, Florida, Louisiana, Alabama, Mississippi, and a couple others and that will give us 40 additional years to have to face the problem again in which time we can maybe find a solution? Let's just nuke Florida.
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Old 03-02-2008, 04:54 PM #15
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...Let's just nuke Florida and New Jersey.
Fixed.
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Old 03-02-2008, 05:12 PM #16
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Now how about thinking realistically please. I'd think this would be taken seriously, but I can be proven wrong...I have already submitted my proposal to lobbiest, congressional leaders and senators. It calls on a five to seven year plan to seriously fix our countries comming money issues.
It's really easy to understand too!
For a period of 5 to 7 years all taxes could be lowered to percentages that makes living under the poverty line easier. However, those that make $135k+ a year would pay 24% to 26%. All Tax payers making less than $42k a year would only have to give up 17% of your/their fiscal labour income or corporate profits income. For peole and corporate entities making $42k to $135k, tax percentages would be a flat 21% of yearly income. Here's the catch, we don't get any of the money back in refunds at the end of the Tax Year for the period set(5 to 7 years). At the end of the period, if the U.S. makes the proper investments, every person or corporate entity would receive 30% of that which was used to restabilize the economy during the no-refund period. Here is the one problem this plan would face- "Selfish people!"


I only gave you a small part of the plan, but what do you -the viewer- think?
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Old 03-02-2008, 05:53 PM #17
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Quote:
Originally Posted by PDXMark View Post
Now how about thinking realistically please. I'd think this would be taken seriously, but I can be proven wrong...I have already submitted my proposal to lobbiest, congressional leaders and senators. It calls on a five to seven year plan to seriously fix our countries comming money issues.
It's really easy to understand too!
For a period of 5 to 7 years all taxes could be lowered to percentages that makes living under the poverty line easier. However, those that make $135k+ a year would pay 24% to 26%. All Tax payers making less than $42k a year would only have to give up 17% of your/their fiscal labour income or corporate profits income. For peole and corporate entities making $42k to $135k, tax percentages would be a flat 21% of yearly income. Here's the catch, we don't get any of the money back in refunds at the end of the Tax Year for the period set(5 to 7 years). At the end of the period, if the U.S. makes the proper investments, every person or corporate entity would receive 30% of that which was used to restabilize the economy during the no-refund period. Here is the one problem this plan would face- "Selfish people!"


I only gave you a small part of the plan, but what do you -the viewer- think?
sounds good to me, but I need to see the rest.
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Old 03-02-2008, 05:55 PM #18
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It's ok, let's spend some more money in Iraq.
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Old 03-02-2008, 06:13 PM #19
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Yes we can?
Because the war in Iraq, and a potential war in Iran with a McCain win will really boost the economy.
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Old 03-02-2008, 06:25 PM #20
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ron paul 2008?
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Old 03-02-2008, 06:28 PM #21
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To end medicare benifits and other entitlement programs is political suicide. We just need to find and elect someone who will do that without coming off as crazy and wantingt to take on the government by themselves. Fix one thing, then move on to the next.
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