Except in reality, the Donkey isn’t really struggling that much…rahter, Murtha is leading it where it’s all too happy to go.
One Eyed Jack
Rob-
I’d enjoy seeing you pose this question to your readers in a neutral, no-typo fashion.
Hopefully we could avoid the arguments of how we got into the budget mess and focus on how USA can get its fiscal house in order. In short, were do we go from here?
yes, entitlements have to be on the table. We all should visit an elderly parent or relative at a Senior Citizen center to put a human face to the problem.
It will be a painful discussion in America, but a discussion we can not duck.
One Eyed Jack
Prez Bush is coming to congress with a request for $94 Billion to cover the wars in Ieaq and Afghanistan.
1) do you think this ” Billion should be borrowed or paid for?
If we borrow the $94 billion, we borrow it from China and send the bill to people in their 20s and 30s who will pay off those loans.
If paid for,
a. what % should come from cuts in other federal budgets? Specific ideas and amounts?
b. what % should come in revenue enhancements?
c. What % should come in shrinking the $84 billion request itself?
One Eyed Jack
sorry Rob- I wasn’t taking a cheap shot at you abour “no-typo”. I re-read my original reply and it was riddled with typos…did it late at night and my eye was tired.
halatbis
There seems to be more than a little opinion out there that Murtha doesn’t have the foggiest idea of what the Iraq and middle-east business is all about. Brit Hume on the FOX Sunday AM show said as much, and he didn’t get any argument from anyone–even Juan Williams did not refute that statement. So far the Dems have been able to dodge any hint of taking responsibility for any of their actions–must be nice–alligator mouth and a canary ass.
Bat One
That money is suppose (sic)to be put away for later entitlements but is spent today and replaced with intra-governmental bonds (IOU’s)
How do we turn those Intra-Governmental bonds back to dollars when they are needed?
Mark D,
First, The practice you describe has been going on since the administration of LBJ in the mid 1960s.
Second, the answer to your question is to minimize the need for EVER turning those bonds back to dollars. Economist Larry Kudlow suggests that a sustained annual GDP growth rate of 3% would generate sufficient revenue so that those bonds would not need to be redeemed to pay out promised benefits. And the only impediment is the Democrats’ manic, cult-like insistence on raising taxes and thus diminishing our economy’s growth.
Mark D
Rob and then move on to privatizing Social Security so that the money I pay in comes back to me, in full (plus interest) or, in the case of my death, by survivors.
Where do you suppose we make up the $185 billion surplus the SS generates now?
Tax cuts?
That money is suppose to be put away for later entitlements but is spent today and replaced with intra-governmental bonds (IOU’s)
How do we turn those Intra-Governmental bonds back to dollars when they are needed?
Mark D
Bat One
First, The practice you describe has been going on since the administration of LBJ in the mid 1960s.
true, but the surplus was minimal till Greenspan suggested an increase in the payroll tax back in the 80′s in order to prepare for the baby boomer’s. Since then we have experienced a growing surplus.
Sorry, I still don’t buy the idea that if GDP rate of 3% is sustained then we are Scott free.
According to the BLS (Bureau of Labor Statistics) we have had a sustained GDP growth rate of 3.2% since 1980.
Yet we still add the $185,000,000,000.00 surplus to the SS trust fund IOU’s.
If it isn’t working now, how will it work tomorrow?
http://sayanythingblog.com robport
OEJ, we waste billions on entitlements in this country every year. You pretty much pick an entitlement, I’m all for cutting it.
I say we start by cutting the Medicare prescription drug benefit, and then move on to privatizing Social Security so that the money I pay in comes back to me, in full (plus interest) or, in the case of my death, by survivors.
How about your suggestions?
http://sayanythingblog.com robport
I thought that might have been it, but wasn’t sure. Sometimes the typo nazis are on patrol around here. I know I make my fair share of mistakes, but that’s what comes of writing as much as I do without an editor.
I’m serious about starting a reader blog though.
http://sayanythingblog.com robport
No-typo fashion?
Come now, Jack. Let’s not be petty. And if you want something posed to the readers here, why not start a reader blog? Just register, sign in, go to the reader blogs and click the “request a blog” link.
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