[quote][b]Posted by:[/b] sillyboy44
[quote][b]Posted by:[/b] King Vegeta
[quote][b]Posted by:[/b] sillyboy44
'By 2025' if the Federal Government keeps spending at current rates. It won't. There's a bi-partisan consensus on that.
Less people are applying for welfare. Lower unemployment hasn't been debunked.[/quote]
[url=http://tinypic.com/r/2a7zvjp/6]Haha![/url] Says who?
Nearly half the country lives off of the support of the other half. I'd like to see evidence of less welfare taking place. Which is most likely countered by unemployment extensions and phony job creation. It's better to have no job than a job building a bridge to nowhere. And still, there has been NO evidence the debt is slowing down anytime soon. The debt cap has been raised every single time they've asked for it to be raised. Thinking that is going to change is just rather...foolish.
Also, there is now more debt than actual dollars. Any way you slice it the dollar has already failed. I doubt you understand the amount of a trillion, let alone 15.7[/quote]
Ouch, careful with that invective...
It's called the global economy. Debt isn't financed from America alone, it comes from the entire world. Half of America is not supporting the other half.
A job is a job. You're referring to underemployment, which is still valid. It courses money through the economy and starts the process of recovery. Lower income earners spend more of their income than higher earners, so it still builds aggregate demand which is the fuel of economic growth. Over time incomes will rise again as they always have.
If you read my post, I said the debt doesn't have to be lowered immediately. That would be counter-productive to growth and therefore paying the rest of the debt.
You're trying to say it's mathematically impossible for the US to pay its debt, which simple isn't true. It can and will.[/quote]
Actually, yes, half of Americans DO support the other half. [url=http://blog.heritage.org/2012/02/19/chart-of-the-week-nearly-half-of-all-americans-dont-pay-income-taxes/]Here[/url]
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