U.S. debt headed toward Greek levels

Ronkh

Ronkh

Wax Waster
U.S. debt headed toward Greek levels | WashingtonExaminer.com


United States' projected debt over the next 25 years looks a lot like Greece's over the past 25.

With all the chaos unravelling in Greece, Congress would be wise to do what it takes to avoid reaching Greek debt levels. But it's not a matter of sticking to the status quo and avoiding bad decisions that would put the budget on a Greek-like path, because the budget is on that path already.

A quarter-century ago, Greek debt levels were roughly 75 percent of Greece's economy — about equal to what the U.S. has now. As of 2014, Greek debt levels are about 177 percent of national GDP. Now, the country is considering defaulting on its loans and uncertainty is gripping the economy.


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We need to stop exporting all the aid for free. Either use it to pay off debt or charge for services to pay off debt. At the very least barter?

It ain't cheap to sent a tanker full of soldiers across the world to make sure there isn't a war and yes I know a war could rock our economy or worse. We won't make it on this track forever and need to find a creative least painful alternative to get back on the tract of reducing the debt. At some point someone needs to pay the piper unless we pay him down ourselves.

I really don't get why we feel we need to supply the world with free services when I need to pay for all the Services I want?
 
Here's a short article on the Greek debt.


And, here's an article on debt.

Here's a quote from the second article: "Because debt is money we owe to ourselves, it does not directly make the economy poorer (and paying it off doesn’t make us richer). True, debt can pose a threat to financial stability — but the situation is not improved if efforts to reduce debt end up pushing the economy into deflation and depression."

Here's the thing, we can listen to the dog whistles or we can understand what's going on. People who don't take history into account, who forget that "we" have reduced the deficit significantly since President Obama took over but now focus solely on debt aren't trying to fix the problem. I'm not talking about the guys who post to this board, I'm talking about the guys who write the things the guys who post to this board read, the guys who work for and in the interests of those who brought us this mess in the first place.

Robert
 
I actually do not think either party really wants to balance the budget since it will be painful to the economy and therefore voters would revolt. It is better to trade insults to continue this going. If the Republicans won the senate with greater than 60 votes and enacted Rand Paul's ideas, the Dems would take over the House in the next cycle.

Given we have not seen a real immigration bill and any credible replacement for Obamacare (where is the medicine cost reform), you can tell they really do not have an answer especially just before an election cycle. It is easy to vote against bills that you know will never become law. This applies to both sides.
 
Bunky said:
I actually do not think either party really wants to balance the budget since it will be painful to the economy and therefore voters would revolt. It is better to trade insults to continue this going. If the Republicans won the senate with greater than 60 votes and enacted Rand Paul's ideas, the Dems would take over the House in the next cycle.

Given we have not seen a real immigration bill and any credible replacement for Obamacare (where is the medicine cost reform), you can tell they really do not have an answer especially just before an election cycle. It is easy to vote against bills that you know will never become law. This applies to both sides.
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Unfortunately, I agree with most of what you said there.
 
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Don't worry, the gov't is preparing. They have setup numerous FEMA camps with coffin liners that are lined up as far as the eye can see, all for us.
 
bigfish528 said:
Anybody think we are headed for Mad Max type of society or lack there of?
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not at all we will survive we will go on 10-20 percent of Americans are very hard works and they will carry the load and keep it from going into utter chaos. But the new NORMAL may be uncofortaby below what we are used to. Its become a global economy and if the government doesn't stop spending money like a pro ball player after his first signing bonus check they will just make it harder on all us and worsen and extend the pain off adjusting to the new NORMAL what ever that is. In a global economy we do have to compete with Mexican Chinese Indian..... labor forces that will work for less and are moving up on the living scale as we go down. Like water the global living scale will seek its own level.
 
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trashmanssd said:
not at all we will survive we will go on 10-20 percent of Americans are very hard works and they will carry the load and keep it from going into utter chaos. But the new NORMAL may be uncofortaby below what we are used to. Its become a global economy and if the government doesn't stop spending money like a pro ball player after his first signing bonus check they will just make it harder on all us and worsen and extend the pain off adjusting to the new NORMAL what ever that is. In a global economy we do have to compete with Mexican Chinese Indian..... labor forces that will work for less and are moving up on the living scale as we go down. Like water the global living scale will seek its own level.
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Well put
 
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