Federal Fiscal Crisis

[helicopper 1,050]

Our children are going to inherit the worst debt this nation has ever seen and if the economy doesn't improve, who knows what else will be wrong. We're spending out of control, taxing and "borrowing" against the perceived value of our nation at a time when everyone should be collectively tightening the proverbial belts.

I am a firm believer in our place as a world power providing aid to others in need but have to ask - how much money are we sending out to other countries this year? Next year? Etc.? Given the need right here within our borders right now, I propose a moratorium on any new federal aid for other countries and a 50% reduction in all aid leaving our borders. Simultaneously, the space program and other such endeavors should also face at least a 25% reduction in future spending until our economy can be taken off life support.

This would have to improve our solvency and give us some much needed relief from out of control taxes and this burgeoning deficit.

If you agree, or if you have more to add, I'm thinking about drafting a letter to Congress that we can all send in pleading our case.

Any comments or thoughts on this?

[x129K 1,393]

I agree! How the * can we be sending money out of this country to help others when we are drowining ourselves!?!?

I REALLY feel for our kids....I dont know how they are going to do it....

[Guest]

I agree! How the * can we be sending money out of this country to help others when we are drowining ourselves!?!?

I REALLY feel for our kids....I dont know how they are going to do it....

Not just our kids but their kids kids will still be paying the debt

[PEMO3 523]

The Federal plan is to give Bernie a job while he is in prison for life. He is going to be put in a room in front of a color Xerox machine making crisp new $100 bills all day. As long as they can print them, they feel they can spend them. You know the old saying, I can't be broke, there are still checks in my checkbook. Gotta love the Feds.

[SageVigiles 1,194]

The ridiculous, unprecedented amount of money being thrown around in the past month or two is insane. As a part of one of the younger generations, I can't imagine how so many people my age are supporting this. Its like nobody realizes that one day this stuff needs to be paid for. This makes my fire districts $20 million underfunded pension fund look like peanuts.

You know the old DC saying, "a few billion here, a few billion there, sooner or later you start talking about real money!"

[mfc2257 464]

Let us not forget, that.......

"Government has nothing to give anybody except what it first takes from somebody, and a government that's big enough to give you everything you want is big enough to take away everything you've got." (From Mr. Lawrence Reed)

Everything that is going on today to "save" America is nothing more than taking from one and giving to another... Until this concept is realized, we will be giving handouts to people for years simply because they don't realize that it's a vicious cycle. The money they recieve now will only be temporary relief but corporate America, small business, and municipalities must not be overtaxed because it removes their ability to grow and produce new jobs.

Be ware of the government that wants to save you. The worst thing you can ever hear is a knock on the door that says "I'm from the government and I'm here to help".....

Edited March 11, 2009 by mfc2257

[Goose 188]

It will turn around - but it will turn around when the market says so. What they need to do is let the bad banks fail, period. They did this during the clinton years and it worked out just fine. Let the market correct itself. Spending trillions on bull isn't going to solve a thing.

The other thing that needs to happen is we need to vote all the morons out of office - on both sides. Enough of this say one thing but do something totally different. The hottest news today is that our esteemed Speaker of the House appears to be the champion of our interests but has wasted millions in demanding air force aircraft for her flights back home. Personally, everyone in govt should ride commuter with the exception of the Pres/Vice pres and their respective staffs.

[ex-commish 490]

Our children are going to inherit the worst debt this nation has ever seen and if the economy doesn't improve, who knows what else will be wrong. We're spending out of control, taxing and "borrowing" against the perceived value of our nation at a time when everyone should be collectively tightening the proverbial belts.

I am a firm believer in our place as a world power providing aid to others in need but have to ask - how much money are we sending out to other countries this year? Next year? Etc.? Given the need right here within our borders right now, I propose a moratorium on any new federal aid for other countries and a 50% reduction in all aid leaving our borders. Simultaneously, the space program and other such endeavors should also face at least a 25% reduction in future spending until our economy can be taken off life support.

This would have to improve our solvency and give us some much needed relief from out of control taxes and this burgeoning deficit.

If you agree, or if you have more to add, I'm thinking about drafting a letter to Congress that we can all send in pleading our case.

Any comments or thoughts on this?

I agree to a point. We need to tightem our belts. My only concern is cutting money to the space program. Doesn't that play a big part in our national defense?

[ny10570 745]

The banks failures in the clinton years was a drop in the bucket compared to now. Even economists that support letting banks or industry fail are not entirely confident it will work and that it won't cause more harm than good. No one knows. Everything right now is theory. Companies like GM, Citi Group, AIG, etc have their hands in so many industries that failure has potentially massive and widespread affects that no one can accurately predict. I'm not saying th ebail outs are the way to go. I'm just saying that because anything worked in the past has no bearing on what is going to work today.