Sounds like typical communist/socialist propaganda to me. You can't really be serious. It's obamacare that has the death panels that limit access to healthcare and the dems get their money from the same businessmen that the republicans do...plus the dems get the union money too.

In 2009 the IRS collected 2.1 trillion dollars in taxes. This total represents all the personal income tax from ordinary Americans and also includes all the corporate taxes and business taxes as well. If we accept the total of 110 trillion dollars as our unfunded liabilities then I think we can all agree we have a problem. Let's triple the tax rate for everyone which would leave most of us with little more than money to buy food and nothing else which, of course, would destroy the economy and the tax base. If we do this we would only raise 6 trillion dollars.

Some would have us seize the assets of the wealthy and use this money for the common good. In 2009 the IRS estimated the total assets of the richest among us at just over 11 trillion dollars. A lot of money for sure but compared to what we require.....little more that a drop in the bucket

We could also sell all the national assets---everything in the country of any value. The estimate for all the assets of the United States is 73 trillion dollars however we owe 54 trillion against those assets, that would have to be paid, leaving us with a profit of 19 trillion. So let's take a look at where we are. We have tripled everyone's taxes and, in doing so,destroyed the economy. We have seized all the assets of the rich and we have sold every thing of value the citizens of the United States ever owned and we have raised........36 trillion dollars....unfortunately we are a little short... we still need another 74 trillion dollars!!!

Just kick the can down to the next generation. Young people wont care enough about voting to care! Meanwhile the old fogeys can just hope to be dead before they catch on.

That's my plan. :D

Isn't that's what all world leaders do? Just make sure they do good enough to last their terms and leave all the nasty stuff for the next runner up to deal with?

When I heard about McConnellcare (let's call it what it originally was, while we use catchy nicknames), I never thought that the purpose was to control the budget. The idea was (as I understood it) to introduce affordable healthcare for the masses. For a great number of Americans, they are in that awkward place where they don't qualify for low-income healthcare, nor can they afford privatized health care (generally the kind unsubsidized by employers).

It was my understanding that the introduction of this kind of healthcare was to change several of the things which protect insurance profits and limit peoples' protections:
-The artificial "limiting" of treatments in dollar amounts (many plans say "we cover each individual problem to a maximum of....", so things like cancer that seemed to be going into remission or were removed and returned could be categorized as the same disease, meaning the companies would just stop paying)
-The dropping of people who have cost too much to the insurance companies
-The right of refusal to treat pre-existing conditions

Savings or not, the idea was to increase the quality of life and livability of the US. As an added bonus, if people spend less on healthcare, they have more to spend elsewhere.

So they can't afford the debit they have now and can't find a way to pay it off so how does borrowing more money and going even deeper into debit seem to be the way to solve the problem? If it was your money would you think that borrowing even more would help you? Do you know any bank that would think it was? Are we missing something here ?

As I said earlier, they need to pay about 20 billion to avoid default from a 200 billion monthly income. He wants to keep overspending and blame the republicans for the problem and the solution as he plans his next re-election campaign. BTW, thanks for the hot ruskie chick from Russia TV above. Always to see a nice unbiased source like the Russians being used to provide solutions to American financial problems.

shit just got real.

The only time going deeper into debt works is if you invest it in something to make more money.

So when Obama says he won't cut funding to education and investments in technology, its a good thing.

The problem is, the people making the decisions on the investments. In their round of stim spending, it ended up costing $275,000 per job created. That's a republican line, and I recognize that tracking the amount of jobs saved as a result makes that number more palatable.

World Debt Clocks

Why aren't countries like England, France, Germany, Ireland and Italy already in the apocalypse? They look a lot worse off than the USA.

because of the EU if im not mistaking

and one can say this sounds like propaganda from of the right wing.


The solution is both Expenditure cuts and Tax Reforms. Yet the republicans wont budge on the Reforms. No where did I say to seize all the wealth of the wealthy or triple the tax or to end capitalism.

You're using the same tactics as most of these reuplicans. Can you see why it's easy for the repulicans to be portrayed as crooks?

For those that always hate on lefties or liberals:

Day of a Republican

I'm no supporter of the right wing, but the way that was written seems like it's designed to do nothing more than inflame the Right with the level of condescension and disrespect shown.

There's no point in stooping to the point where you're just trying to belittle others' opinions. Disagreement is one thing. Calling people idiots is nothing more than a way to ensure that people remain divided and don't want to come together to solve their problems.

So, if every single country is in debt, who is the money owed to? Central banks?

Your pension, your investments, ... for instance Japanese citizens own much of Japan's debt.

Italy and Ireland are buckling majorly. Greece along with them.

The Euro is the only thing keeping Europe a float and it's starting to give under the strain of holding up all these countries.

Euro Financial Crisis: No End In Sight - Geopolitical Monitor

US has only 2 options, either let the dollar collapse to save the economy or save the dollar and destroy the economy...

thanks to deregulation, thanks to big banks and fed reserve.

They have more options than that. Cuts to entitlement programs, tax reforms, and military strategy change. Just no-one wants to make any of those decisions cause they are hard, or someone's hand is in the cookie jar.

I'm curious what some of these "entitlement" programs are? Not a fan of the term because i dont feel people should be entitled to anything. Perhaps it's necessary evil?

-Social Security
-Medicare
-Medicaid
-federal employee and military retirement plans
-unemployment compensation
-food stamps
-agricultural price support programs
-earned income tax credit
-free lunch programs for poor children

Medicare, welfare, social security, ...

I'm using "entitlement programs" cause my favourite blogger does. He uses it to mean things people feel society should have, thus are "entitled" to.

None of these are necessary evils, or even necessary. As little as 100 years ago we didn't rely on government for these things, we saved for ourselves and relied on family, friends, neighbours, and our community.

More the reason why I think "entitlement" is a good word, cause people don't need these programs if they took more responsibility for themselves, yet feel entitled to them now that society has told them they need it.

Curious how long they plan on subsidizing corn now that it takes more energy to make than it produces.