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Thursday, July 14, 2011




"commitment to maintaining benefits over reducing the deficit"

And how does Cory explain where we get the money when interest rates are adjusted back up to where they should be instead of being falsely held low? As of right now, we are committed to $250 Billion in interst payments on the debt. If the interest rates were to adjust to a position that is more in line with historical rates, revenues would be committed largely to interest payments on the debt.

That would leave nothing, but even more borrowed money in an attempt to keep up with the benefits schedule.

Economic Pain is unavoidable. That means benefits, taxes, and standard of living all will be affected. The best solution would be to apply that pain starting now instead of waiting till the last second. If we had political leaders who were not interested in becoming Europe, we could deregulate, lower taxes, confront unions, and begin the long road of grwoing our way out of this hole.

Stan Gibilisco

"Italy's problem is the general problem and it is our problem. Governments everywhere have spent beyond their means. China is awash with debt. There is no one to bail us all out."

If our entire world is in debt, to whom is the money owed? The Vulcans? The Xindi? The Romulans?



"to whom is the money owed"

Whoever controls the most resources.

Ken Blanchard

Stan: you have asked a philosophical rather than an economic question. As the philosopher John Searle has pointed out, money is odd. On the one hand, it is very real, as anyone knows who has run out of it or come into a lot of it. On the other hand, it seems to exist entirely as a social construct. It matters only if someone else believes in it. You can't buy off a hungry bear with any amount of money.

The world debt represents nothing more nor less than the trust that people have in the future of their investments. If that collapses, we'll all be roasting rats over rusty barrels.


And so the question is really, do conservatives believe in the construct of cash and debt, or has their faith in anything of this world been expired by their belief in GOD?

Not so much "I think, therefore I am" as "I believe therefore it is"...

"I believe Obama was not born in the USA"... "I believe lower taxes create greater revenue"... "I believe GW Bush is no longer President, therefore he had no effect on our debt situation"... (and we shall never mention his name again) "I believe that if WE can't meet our debt obligations there will be no consequences"...

Faith does NOT change reality!

penny auction

I believe that if WE can't meet our debt obligations there will be no consequences...

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