Quote:
Originally Posted by Robbie
Guys, I have to wonder about this...didn't they originally create the "debt ceiling" as a way to stop Congress from spending too much? And they have just ignored it and raised it every year for decades?
So what is to stop the next President or Congress a few years down the line from tossing a ten year plan in the garbage and just "raising" the spending levels just like they are doing with the "debt ceiling"
I don't think that Washington D.C. is going to stop until this country is completely in shambles.
EDIT: Also when the govt. is spending 303 Billion dollars per month...how is "cutting" a couple of hundred billion per year going to do anything to get us OUT of debt? Shouldn't we be cutting about 4 trillion right NOW?
I'm just doing the math here...
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another thing to add in to this equation is the crumbling infrastructure. 60 year old shit that was built with an engineered lifespan of ~50 years.
cost to bring everything to 2011 standards: $20 trillion
i happen to think this is our only way out and was beyond surprised to see how few tarp resources were put to this in 2008+. but a new energy breakthrough and a new deal sort of government would stave off a meltdown, although i do agree with thesquealer, we would all adjust to life after.