The Status Quo Is Treason
As is usually the case, everything the Obamacrats say is nearly 100% wrong and 180 degrees from the actual reality.
"Economic treason"? The US of A is dead flat broke. We have $17 trilllion dollars in debt and that is just bonded debt. Unfunded liabilities are much higher (Republican economist David Malpass says $70 trillion, Democrat economist Larry Kotlikoff says, oh, $222 trillion. Near term deficit forecasts are between $600-900 billion for the next couple of years (these add to the debt).
Further, we have NEVER had tax receipts be greater than 21% of GDP under ANY political leadership. So even if we magically got 21% of GDP in taxes on a $16 trillion GDP and NEVER increased spending, we are still structurally in the hole, and adding to the debt, $500 billion every year. And that is WITHOUT ObamaCare.
Let's repeat, $17 trillion in hock, adding to that by $500 billion a year under the best circumstances, while still ignoring anywhere from $70-220 trillion in promises we've made. To make even a dent in that, we'd have to grow our economy over the next 20 years like we were China and/or triple to quadruple taxes. Not gonna happen. We are so f**king broke.
Operating AS WE ARE CURRENTLY OPERATING is the treasonous course. The Republicans, for all the vitriol they are absorbing are not even proposing anything close to what needs to happen to get ourselves out of the problem. The Republicans are merely making the lamest and most pathetic attempt at addressing the problem and they've taken a full frontal load of the worst flak the MSM and their political arm, the Dems, can give.
As I've said, politics ain't gonna solve this. Only going broke will. Going broke, though, for the Obama crowd is a feature, not a bug.
"Economic treason"? The US of A is dead flat broke. We have $17 trilllion dollars in debt and that is just bonded debt. Unfunded liabilities are much higher (Republican economist David Malpass says $70 trillion, Democrat economist Larry Kotlikoff says, oh, $222 trillion. Near term deficit forecasts are between $600-900 billion for the next couple of years (these add to the debt).
Further, we have NEVER had tax receipts be greater than 21% of GDP under ANY political leadership. So even if we magically got 21% of GDP in taxes on a $16 trillion GDP and NEVER increased spending, we are still structurally in the hole, and adding to the debt, $500 billion every year. And that is WITHOUT ObamaCare.
Let's repeat, $17 trillion in hock, adding to that by $500 billion a year under the best circumstances, while still ignoring anywhere from $70-220 trillion in promises we've made. To make even a dent in that, we'd have to grow our economy over the next 20 years like we were China and/or triple to quadruple taxes. Not gonna happen. We are so f**king broke.
Operating AS WE ARE CURRENTLY OPERATING is the treasonous course. The Republicans, for all the vitriol they are absorbing are not even proposing anything close to what needs to happen to get ourselves out of the problem. The Republicans are merely making the lamest and most pathetic attempt at addressing the problem and they've taken a full frontal load of the worst flak the MSM and their political arm, the Dems, can give.
As I've said, politics ain't gonna solve this. Only going broke will. Going broke, though, for the Obama crowd is a feature, not a bug.
posted by Donny Baseball at 2:44 PM
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