Home › Forums › Financial Markets/Economics › The Tea Party downgrade
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August 7, 2011 at 10:34 PM #717017August 7, 2011 at 11:34 PM #715840
briansd1
Guest[quote=Allan from Fallbrook]
I’m all for cutting the Defense budget, although I cannot see how this will be anything but a disaster in the midst of two wars.
[/quote]By the time, the cuts affect the Pentagon we should be out of Iraq and Afghanistan.
[quote=Allan from Fallbrook]
Until we get serious about cutting entitlements, tax reform, and honest fiscal reform, we’re going to see this drama played out numerous times over the coming years.If you take half the budget outlays and essentially make them off-limits, you’ll get exactly what we have now: Drastic cuts to the other half of the budget, including discretionary (which includes infrastructure), while ignoring the proverbial elephant in the room. This is a massive wealth transfer from the young(er) to the elderly and is completely unsustainable over the coming years.[/quote]
About the wealth transfer from the younger generation to the older folks, it will be interesting to watch Reagan Democrats, and older Republicans suddenly turn Kennedy Democrats when they get “mediscared”.
The next political cycles will be interesting to watch.
August 7, 2011 at 11:34 PM #715930Guest[quote=Allan from Fallbrook]
I’m all for cutting the Defense budget, although I cannot see how this will be anything but a disaster in the midst of two wars.
[/quote]By the time, the cuts affect the Pentagon we should be out of Iraq and Afghanistan.
[quote=Allan from Fallbrook]
Until we get serious about cutting entitlements, tax reform, and honest fiscal reform, we’re going to see this drama played out numerous times over the coming years.If you take half the budget outlays and essentially make them off-limits, you’ll get exactly what we have now: Drastic cuts to the other half of the budget, including discretionary (which includes infrastructure), while ignoring the proverbial elephant in the room. This is a massive wealth transfer from the young(er) to the elderly and is completely unsustainable over the coming years.[/quote]
About the wealth transfer from the younger generation to the older folks, it will be interesting to watch Reagan Democrats, and older Republicans suddenly turn Kennedy Democrats when they get “mediscared”.
The next political cycles will be interesting to watch.
August 7, 2011 at 11:34 PM #716530Guest[quote=Allan from Fallbrook]
I’m all for cutting the Defense budget, although I cannot see how this will be anything but a disaster in the midst of two wars.
[/quote]By the time, the cuts affect the Pentagon we should be out of Iraq and Afghanistan.
[quote=Allan from Fallbrook]
Until we get serious about cutting entitlements, tax reform, and honest fiscal reform, we’re going to see this drama played out numerous times over the coming years.If you take half the budget outlays and essentially make them off-limits, you’ll get exactly what we have now: Drastic cuts to the other half of the budget, including discretionary (which includes infrastructure), while ignoring the proverbial elephant in the room. This is a massive wealth transfer from the young(er) to the elderly and is completely unsustainable over the coming years.[/quote]
About the wealth transfer from the younger generation to the older folks, it will be interesting to watch Reagan Democrats, and older Republicans suddenly turn Kennedy Democrats when they get “mediscared”.
The next political cycles will be interesting to watch.
August 7, 2011 at 11:34 PM #716679Guest[quote=Allan from Fallbrook]
I’m all for cutting the Defense budget, although I cannot see how this will be anything but a disaster in the midst of two wars.
[/quote]By the time, the cuts affect the Pentagon we should be out of Iraq and Afghanistan.
[quote=Allan from Fallbrook]
Until we get serious about cutting entitlements, tax reform, and honest fiscal reform, we’re going to see this drama played out numerous times over the coming years.If you take half the budget outlays and essentially make them off-limits, you’ll get exactly what we have now: Drastic cuts to the other half of the budget, including discretionary (which includes infrastructure), while ignoring the proverbial elephant in the room. This is a massive wealth transfer from the young(er) to the elderly and is completely unsustainable over the coming years.[/quote]
About the wealth transfer from the younger generation to the older folks, it will be interesting to watch Reagan Democrats, and older Republicans suddenly turn Kennedy Democrats when they get “mediscared”.
The next political cycles will be interesting to watch.
August 7, 2011 at 11:34 PM #717040Guest[quote=Allan from Fallbrook]
I’m all for cutting the Defense budget, although I cannot see how this will be anything but a disaster in the midst of two wars.
[/quote]By the time, the cuts affect the Pentagon we should be out of Iraq and Afghanistan.
[quote=Allan from Fallbrook]
Until we get serious about cutting entitlements, tax reform, and honest fiscal reform, we’re going to see this drama played out numerous times over the coming years.If you take half the budget outlays and essentially make them off-limits, you’ll get exactly what we have now: Drastic cuts to the other half of the budget, including discretionary (which includes infrastructure), while ignoring the proverbial elephant in the room. This is a massive wealth transfer from the young(er) to the elderly and is completely unsustainable over the coming years.[/quote]
About the wealth transfer from the younger generation to the older folks, it will be interesting to watch Reagan Democrats, and older Republicans suddenly turn Kennedy Democrats when they get “mediscared”.
The next political cycles will be interesting to watch.
August 8, 2011 at 6:23 AM #715884DomoArigato
ParticipantThe bond market is giving this clowngrade the respect it deserves:
August 8, 2011 at 6:23 AM #715975ParticipantThe bond market is giving this clowngrade the respect it deserves:
August 8, 2011 at 6:23 AM #716575ParticipantThe bond market is giving this clowngrade the respect it deserves:
August 8, 2011 at 6:23 AM #716724ParticipantThe bond market is giving this clowngrade the respect it deserves:
August 8, 2011 at 6:23 AM #717085ParticipantThe bond market is giving this clowngrade the respect it deserves:
August 8, 2011 at 6:36 AM #715889Participant[quote=GH]
Our govt is lucky I am not on the rating board, because frankly I doubt there is any way in hell we ever repay our debts and stay solvent.
[/quote]We don’t have to pay off our debts. Did you know that World War II debt was never paid off? It was just inflated away to the point that it was insignificant.
Unfortunately, the current misguided austerity is likely to lead to deflation and higher deficits.
August 8, 2011 at 6:36 AM #715979Participant[quote=GH]
Our govt is lucky I am not on the rating board, because frankly I doubt there is any way in hell we ever repay our debts and stay solvent.
[/quote]We don’t have to pay off our debts. Did you know that World War II debt was never paid off? It was just inflated away to the point that it was insignificant.
Unfortunately, the current misguided austerity is likely to lead to deflation and higher deficits.
August 8, 2011 at 6:36 AM #716580Participant[quote=GH]
Our govt is lucky I am not on the rating board, because frankly I doubt there is any way in hell we ever repay our debts and stay solvent.
[/quote]We don’t have to pay off our debts. Did you know that World War II debt was never paid off? It was just inflated away to the point that it was insignificant.
Unfortunately, the current misguided austerity is likely to lead to deflation and higher deficits.
August 8, 2011 at 6:36 AM #716729Participant[quote=GH]
Our govt is lucky I am not on the rating board, because frankly I doubt there is any way in hell we ever repay our debts and stay solvent.
[/quote]We don’t have to pay off our debts. Did you know that World War II debt was never paid off? It was just inflated away to the point that it was insignificant.
Unfortunately, the current misguided austerity is likely to lead to deflation and higher deficits.
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