05 Feb '10 21:22>
Originally posted by KazetNagorraespecially if they turn to scorched earth policies.
The relevant goals of the current U.S. military can be achieved with a third of the budget and possibly even less.
Originally posted by telerionYes. This is the way it works.
About SS:
Let's make sure that every understands that it's not a retirement program. It is a complicated income redistribution mechanism primarily from workers to the retired. This means that the payroll taxes you put in are not promised to you (with interest) in the future. Your money now goes to old people. Assuming the SS is still in place when the end, the winners are the old people that won't be around to suffer the consequences.
Originally posted by whodey9/11 contributed to the recent recession which we seemed to have pulled out of fairly quickly.
Social Security is more important to the economy that defense? So lets say the US was attacked again like on 9/11. What would happen to the economy then I wonder? In fact, the last I heard the US is due to be attacked again in another 6 months from what we hear in the news.
Originally posted by whodeyYou are right to worry about the bond rating. I have heard it may take five years, but if something isn't done, it will be downgraded. that means it will be much harder to sell bonds.
My warning is of an possible upcoming lowering of the US bond rating among other things. Either you disagree with my concern or you have no concern regarding this. Debt is OK so long as you don't let it get out of hand.
Originally posted by Hugh GlassJapan doesn't seem to have that much problems selling their bonds, with 200% of GDP in debt. (though I expect Japan's soaring debt to spark the next economic crisis)
You are right to worry about the bond rating. I have heard it may take five years, but if something isn't done, it will be downgraded. that means it will be much harder to sell bonds.
I also heard that the deduction for S.S. will raise, to pay for those now on it? Not sure how credible that remark was.
Originally posted by KazetNagorraglobal warming hysteria and fiscal warming hysteria have a LOT in common
Japan doesn't seem to have that much problems selling their bonds, with 200% of GDP in debt. (though I expect Japan's soaring debt to spark the next economic crisis)