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OfflineTheThinker
Stranger
Registered: 03/01/11
Posts: 114
Last seen: 13 years, 22 days
Re: experts predict US economic meltdown == bush 3rd term??... [Re: Icelander]
    #14059873 - 03/03/11 12:52 PM (13 years, 29 days ago)

Yet some topics remain current.

Let’s get real. The U.S. is bankrupt. Neither spending more nor taxing less will help the country pay its bills.

What it can and must do is radically simplify its tax, health-care, retirement and financial systems, each of which is a complete mess. But this is the good news. It means they can each be redesigned to achieve their legitimate purposes at much lower cost and, in the process, revitalize the economy.

Last month, the International Monetary Fund released its annual review of U.S. economic policy. Its summary contained these bland words about U.S. fiscal policy: “Directors welcomed the authorities’ commitment to fiscal stabilization, but noted that a larger than budgeted adjustment would be required to stabilize debt-to-GDP.”

But delve deeper, and you will find that the IMF has effectively pronounced the U.S. bankrupt. Section 6 of the July 2010 Selected Issues Paper says: “The U.S. fiscal gap associated with today’s federal fiscal policy is huge for plausible discount rates.” It adds that “closing the fiscal gap requires a permanent annual fiscal adjustment equal to about 14 percent of U.S. GDP.”
http://www.bloomberg.com/news/2010-08-11/u-s-is-bankrupt-and-we-don-t-even-know-commentary-by-laurence-kotlikoff.html

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Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 9 months
Re: experts predict US economic meltdown == bush 3rd term??... [Re: TheThinker]
    #14059882 - 03/03/11 12:52 PM (13 years, 29 days ago)

The US is not bankrupt.  Many governments in the US are.


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OfflineTheThinker
Stranger
Registered: 03/01/11
Posts: 114
Last seen: 13 years, 22 days
Re: experts predict US economic meltdown == bush 3rd term??... [Re: zappaisgod]
    #14059888 - 03/03/11 12:53 PM (13 years, 29 days ago)

Quote:

zappaisgod said:
The US is not bankrupt.  Many governments in the US are.






Head/sand

Good luck with that.

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OfflineFriskies

Registered: 02/27/11
Posts: 44
Last seen: 13 years, 26 days
Re: experts predict US economic meltdown == bush 3rd term??... [Re: TheThinker]
    #14059893 - 03/03/11 12:54 PM (13 years, 29 days ago)

Oh wait...

How much have we borrowed from other countries? I forgot....


--------------------
Stoner extraordinaire

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Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 9 months
Re: experts predict US economic meltdown == bush 3rd term??... [Re: Friskies]
    #14059911 - 03/03/11 12:57 PM (13 years, 29 days ago)

Quote:

Friskies said:
Oh wait...

How much have we borrowed from other countries? I forgot....



So what?


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OfflineFriskies

Registered: 02/27/11
Posts: 44
Last seen: 13 years, 26 days
Re: experts predict US economic meltdown == bush 3rd term??... [Re: zappaisgod]
    #14059921 - 03/03/11 12:59 PM (13 years, 29 days ago)

/facepalm


--------------------
Stoner extraordinaire

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Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 9 months
Re: experts predict US economic meltdown == bush 3rd term??... [Re: Friskies]
    #14059931 - 03/03/11 01:00 PM (13 years, 29 days ago)

:facepalm:


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OfflineMushyHobo
Stranger


Registered: 02/28/11
Posts: 45
Last seen: 13 years, 26 days
Re: experts predict US economic meltdown == bush 3rd term??... [Re: zappaisgod]
    #14059973 - 03/03/11 01:09 PM (13 years, 29 days ago)

Quote:

zappaisgod said:
Did you notice that warning when you resurrected the ancient scroll?  I didn't put it there.  It was for the purposes of preventing annoying nitwits from doing what annoying nitwits do.




Who are you calling an annoying nitwit?  I thought there was a policy against flaming?

Anyway, I don't get why you personally don't like old threads... I don't get why searching for older stuff I find interesting is suddenly grounds to sniggle me out..
:dontspillme:

..this aggro is getting me down, time to smoke some yoda.  Thanks, bud.

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Offlinezappaisgod
horrid asshole


Registered: 02/11/04
Posts: 81,741
Loc: Fractallife's gym
Last seen: 7 years, 9 months
Re: experts predict US economic meltdown == bush 3rd term??... [Re: MushyHobo]
    #14060027 - 03/03/11 01:19 PM (13 years, 29 days ago)

Quote:

MushyHobo said:
Quote:

zappaisgod said:
Did you notice that warning when you resurrected the ancient scroll?  I didn't put it there.  It was for the purposes of preventing annoying nitwits from doing what annoying nitwits do.




Who are you calling an annoying nitwit?  I thought there was a policy against flaming?




:rofl2:I didn't say you were, but if the shoe fits.......
Quote:



Anyway, I don't get why you personally don't like old threads... I don't get why searching for older stuff I find interesting is suddenly grounds to sniggle me out..
:dontspillme:

..this aggro is getting me down, time to smoke some yoda.  Thanks, bud.




It isn't me personally.  I don't much mind that you take the time to search my 10,000 politics posts, nor do I regret writing anything you might resurrect.  Like I fucking said, I didn't make the warning.


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OfflineScreaming Eagle
American Patriot


Registered: 03/03/11
Posts: 54
Last seen: 13 years, 4 days
Re: experts predict US economic meltdown == bush 3rd term??... [Re: zappaisgod]
    #14064461 - 03/04/11 02:30 AM (13 years, 28 days ago)

Quote:

zappaisgod said:
The US is not bankrupt.  Many governments in the US are.




Yes sir.  People don't get that.  (And it always seems to be the commies.  IMAGINE THAT!)

As far as Irish tits go, I COULDN'T AGREE MORE.  Irish girls have the BEST tits on earth.  Back when I was in the service, I passed through Ireland on my way home for leave.  I'm not going to say what happened there, but there is probably a SMALL ARMY of Irish kids who could claim me as their dad.  Know what I'm saying?  I screwed every daughter of Eire in sight! Those are some of my BEST memories.

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InvisibleIcelander
The Minstrel in the Gallery
Male


Registered: 03/15/05
Posts: 95,368
Loc: underbelly
Re: experts predict US economic meltdown == bush 3rd term??... [Re: Screaming Eagle]
    #14064846 - 03/04/11 06:41 AM (13 years, 28 days ago)

Those are someone else's memories.:satansmoking:


--------------------
"Don't believe everything you think". -Anom.

" All that lives was born to die"-Anom.

With much wisdom comes much sorrow,
The more knowledge, the more grief.
Ecclesiastes circa 350 BC

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Invisiblephoxyilluminata
Stranger
Female
Registered: 02/27/11
Posts: 102
Re: experts predict US economic meltdown == bush 3rd term??... [Re: Icelander]
    #14064921 - 03/04/11 07:13 AM (13 years, 28 days ago)

Quote:

Icelander said:
Those are someone else's memories.:satansmoking:



They are mine. Though, there won't be any kids when I go back.

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