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Started By
Message
US national debt: $31.8T
Posted on 5/29/23 at 5:22 pm
Posted on 5/29/23 at 5:22 pm
Debt per citizen: $95,006
Debt per taxpayer: $248,041
How do we address this as a country from both the revenue and spending sides keeping aside politics for a minute?
Debt per taxpayer: $248,041
How do we address this as a country from both the revenue and spending sides keeping aside politics for a minute?
11
Posted on 5/29/23 at 5:34 pm to rickgrimes
quote:
How do we address this as a country from both the revenue and spending sides keeping aside politics for a minute?
Social Security and Medicare make up the bulk of US expenditures, followed by Military. Only meaningful
way to address spending side is to take on those 3 and it isn’t happening.
Posted on 5/29/23 at 6:11 pm to rickgrimes
quote:
How do we address this as a country from both the revenue and spending sides keeping aside politics for a minute?
Spend less than you take in.
No wants to pay more and no wants to give up any spending.
Posted on 5/29/23 at 6:14 pm to rickgrimes
They gave social security recipients an 8% raise this year.
Given the debt.
Given the inflation.
They don't give a frick.
Given the debt.
Given the inflation.
They don't give a frick.
Posted on 5/29/23 at 6:39 pm to rickgrimes
quote:
Debt per taxpayer: $248,041
Posted on 5/29/23 at 6:53 pm to rickgrimes
Literally the only ways to address it:
1- inflate the hell out of the dollar to devalue and repay debt
2- mint the $30 trillion platinum coin
3- debt jubilee
Cutting costs and balancing the budget aren’t going to do shite, that ship sailed long ago
1- inflate the hell out of the dollar to devalue and repay debt
2- mint the $30 trillion platinum coin
3- debt jubilee
Cutting costs and balancing the budget aren’t going to do shite, that ship sailed long ago
Posted on 5/29/23 at 7:27 pm to TigerTatorTots
quote:
1- inflate the hell out of the dollar to devalue and repay debt
Literally rob everyone who's had the temerity to put some money away for a rainy day.
Stimmies to people who don't have shite are welcome.
Stimmies for the rest of us means our hard earned savings/wealth is eroded by inflation.
Not sure if it's incompetence, or if it was Machiavellian.
Posted on 5/29/23 at 7:32 pm to rickgrimes
quote:
Debt per citizen: $95,006
Debt per taxpayer: $248,041
Amazing how many citizens aren't taxpayers, given this disparity. Welfare, unemployment, "disability" abuse (by civilians and veterans)....so each of you who filed a 1040 last year have to pay for the rest of these chumps.
Posted on 5/29/23 at 8:07 pm to Dawgfanman
quote:
Social Security and Medicare make up the bulk of US expenditures, followed by Military. Only meaningful
way to address spending side is to take on those 3 and it isn’t happening.
I disagree.
There is a ton of bloat in the federal government.
We don't even need a department of education as an example.
There is plenty of room for cuts without attacking SS and Medicare.
Posted on 5/29/23 at 8:20 pm to meansonny
quote:
I disagree.
There is a ton of bloat in the federal government.
We don't even need a department of education as an example.
There is plenty of room for cuts without attacking SS and Medicare.
Disagree with what? Facts?
Posted on 5/29/23 at 8:28 pm to meansonny
quote:
There is plenty of room for cuts without attacking SS and Medicare.
You aren't serious then.
Posted on 5/29/23 at 8:30 pm to meansonny
quote:There is not if the goal of the cuts is to eliminate the national debt. Thats like cutting out your daily Starbucks coffee to pay off your Mega Yacht
There is plenty of room for cuts without attacking SS and Medicare.
Posted on 5/29/23 at 8:33 pm to TigerTatorTots
quote:
There is not if the goal of the cuts is to eliminate the national debt. Thats like cutting out your daily Starbucks coffee to pay off your Mega Yacht
I agree to disagree.
The first step is to stop the bleeding. Get the budget balanced.
Inflation would honestly go a long way for the rest.
It has taken decades to build the debt. It can take decades to get it under control. I'm OK with that.
Posted on 5/29/23 at 8:56 pm to rickgrimes
I’m curious to hear people’s thoughts on cutting SS. How would you do it? Do you slowly phase it out or is there a better approach? I know it will never happen so I’m just talking hypotheticals
Posted on 5/29/23 at 9:13 pm to LSUFanHouston
quote:
Spend less than you take in.
If the Republicans take the trifecta in 2024, could they pass a law that says Congress has to balance the budget every year, unless we are at war? That way at least the debt could stay at 32T and not get any worse. Is such a thing remotely possible? Could DeSantis be the guy to do it? I don't think I've heard him talk about the Federal deficits that much.
Posted on 5/29/23 at 9:14 pm to Civildawg
Transfer the sum of SS payments for all under 40 into IRAs in the beneficiary’s name in place of their future SS beneifts. Leaves 25+ years for that to accumulate and people to adjust retirement planning. Curtails growth of the obligation significantly.
Cut economic security funds and allocate the cuts to help shore up the SS fund. Cut foreign aid by 50%, same thing allocate annual amount to shore up SS fund.
End govt pension/ridiculous retirements for 401k model for all new hires. Same strategy for those under 40 as SS, transfer their cash value of retirement into personal IRAs or a 401k rollover with match based on non-govt avg.
End the congressional retirement as it stands. They get a pension up to 80% of their last salary post service with just 5 years of service required. This is ludicrous, ESPECIALLY given their rampant insider trading and wealth building while in office. Out of office they have ample economic opportunities that probably pay more than their congressional salary. If still needed to shore up SS, allocate. If not, cost savings.
None of this will happen however. We ride a train with no brakes. The only meaningful change to come will be post derailment.
Edit: correction to congressional retirement. I was wrong, still ludicrous.
Cut economic security funds and allocate the cuts to help shore up the SS fund. Cut foreign aid by 50%, same thing allocate annual amount to shore up SS fund.
End govt pension/ridiculous retirements for 401k model for all new hires. Same strategy for those under 40 as SS, transfer their cash value of retirement into personal IRAs or a 401k rollover with match based on non-govt avg.
End the congressional retirement as it stands. They get a pension up to 80% of their last salary post service with just 5 years of service required. This is ludicrous, ESPECIALLY given their rampant insider trading and wealth building while in office. Out of office they have ample economic opportunities that probably pay more than their congressional salary. If still needed to shore up SS, allocate. If not, cost savings.
None of this will happen however. We ride a train with no brakes. The only meaningful change to come will be post derailment.
Edit: correction to congressional retirement. I was wrong, still ludicrous.
This post was edited on 5/29/23 at 9:24 pm
Posted on 5/29/23 at 9:21 pm to rickgrimes
What is the net worth per tax payer?
Posted on 5/29/23 at 9:31 pm to Dawgfanman
quote:
Social Security and Medicare make up the bulk of US expenditures, followed by Military. Only meaningful
And SS and Medicare are mandatory spending, meaning they don't require the annual appropriation of Congress every year.
quote:
They gave social security recipients an 8% raise this year.
SS COLA raises are subject to increases in inflation
This post was edited on 5/29/23 at 9:33 pm
Posted on 5/29/23 at 9:56 pm to rickgrimes
quote:
If the Republicans take the trifecta in 2024, could they pass a law that says Congress has to balance the budget every year, unless we are at war? That way at least the debt could stay at 32T and not get any worse. Is such a thing remotely possible? Could DeSantis be the guy to do it? I don't think I've heard him talk about the Federal deficits that much.
Republicans spend like crazy when they have all the power.
The debt ceiling was raised 3 times under trump and no one gave a shite.
This post was edited on 5/29/23 at 9:58 pm
Posted on 5/29/23 at 9:58 pm to DabosDynasty
quote:
None of this will happen however. We ride a train with no brakes. The only meaningful change to come will be post derailment.
None of those will happen because they are either bad ideas or irrelevant in scope.
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