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Par For The Course

Money & Finance > Troubling Issue #2
 

Troubling Issue #2

Let's get serious here. Our country is in a whole heap of trouble. While I blithely go golfing or pull garden weeds, our government is being swallowed up in a black hole of debt.

The United States cannot survive if we continue down the same path of spending more money than we have. Does the word "bankrupt" mean anything? "Foreclosure"? We apply those terms to individuals, but they could well be applied to our government.

To simplify, America spends more money than it takes in (from taxes). We spend ten times more money ($70+ bil) on military operations than the next highest country (China). Social security and medicare consume enormous amounts of money--important, yes, but waste and fraud is prevalent and rampant. Toss in Veteran care.

Looking at a pie graph of where our money goes, one can easily see that our priorities are all screwed up. The "slices" are mostly backwards! We should be spending much more of our "income" on the three E's: education, economy, environment (to simplify).

We have borrowed so much money, it appears there's no hope we'll ever be able to repay our loans. And with Greece and other countries on the verge of financial collapse, a domino affect will bowl us over. "Help. We've fallen and we can't get up!!"

Our debt ceiling will be bumped up soon, only postponing the inevitable. This is an extreme crisis. Our spending habits cannot be ignored.

I'm no economist, but it seems to me there are simple solutions. We must immediately cut our military budget. Nickel and dime cuts (like Planned Parenthood) are drops in the ocean. I'm talking massive chunks slashed. Subsidies to oil companies and farmers must be eliminated.

Secondly, we need to raise taxes in several areas. Wealthy individuals and corporations (like GE) must pay their fair share. And tax loopholes, like having corporate headquarters located in Switzerland, have to be outlawed.

The United States of America is treading on very thin ice. An economic collapse is imminant if something isn't done NOW. There is no time for "politics as usual". I, for one, am frightened. Frightened about our future. Who will bail us out?

posted on June 18, 2011 5:31 AM ()

Comments:

Well as you know in Greece, Spain and Portugal they spend more then their incomes......
comment by itsjustme on June 21, 2011 7:53 AM ()
And of course, no tax increases for the wealthy (or fewer tax shelters) because the Rep party sill adheres to the "trickle down" theory.
comment by dragonflyby on June 19, 2011 7:27 PM ()
Not to mention it's the fat cats that donate the big bucks to Repubs.
reply by solitaire on June 20, 2011 5:12 AM ()
I just read an article about how the Dems are trying to stop the billions of dollars of direct payments to farmers (subsidies, not disaster assistance) to help balance the budget and the Repubs are fighting that tooth and nail. No big surprise, but really, I think the farmers could do without this free money (being a farmer myself in some respects) in some hope of cutting govt spending.
comment by troutbend on June 18, 2011 4:09 PM ()
Have you seen the price of corn and beans recently? Farmers around here are reluctant to admit they're rolling in the dough (they love to complain). Subsidies are to keep grocery prices down. It's another form of "bailout". My senator, Dick Lugar, owns a farm. Hence, keep those subsidies coming!
reply by solitaire on June 19, 2011 4:59 AM ()
It scares me too. Don't mind me while I keep my head buried in the sand.
comment by kristilyn3 on June 18, 2011 12:44 PM ()
Join the crowd!
reply by solitaire on June 19, 2011 4:54 AM ()
The Greek will bail us out(kidding)It is getting worse and worse.
Now that AA RP will agreed to some cut in Medicare and SS.
Then who is dicking around Dem or the Rep or both.All of this money is spend on this useless war that is going on now.Not sure you called this "War"
comment by fredo on June 18, 2011 9:14 AM ()
Appreciate your comments. I'm not yet done on my "rant".
reply by solitaire on June 19, 2011 4:54 AM ()
Osama is dead. Why are we still in Afghanistan and Iraq? Bring them all
home and quit letting the military spend relentlessly.
comment by elderjane on June 18, 2011 7:48 AM ()
Old habits are hard to break. If we continue....... well, you know.
reply by solitaire on June 19, 2011 4:52 AM ()
hate to say it but 'We the people' really don't seem to care.
comment by greatmartin on June 18, 2011 7:44 AM ()
Like I said, we go about our usual business, ignoring the dire situation. I'm self-charged guilty.
reply by solitaire on June 19, 2011 4:50 AM ()
Amen. As if the word means anything (to you or me.)
comment by jondude on June 18, 2011 5:49 AM ()

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