Why I Believe The Economy Wont Improve

[deacon blues]

I want the economy to improve. I don't want America to suffer more. I want our leaders to all make the right decisions that will put our nation on a path toward growth, wealth creation, jobs for all, better jobs, a brighter future for those in retirement, those wishing to retire and for our children and grandchildren.

What is disturbing to me is that the conversation these days is about the Republicans being willing to raise taxes. That's the news every day. Will the GOP led House be willing to raise taxes? Will the moderates in the GOPlead the way or will the Tea Partiers? Should we raise rates or close loopholes?

And barely a peep about Democrats and the administration willing to reform Social Security and Medicare, the biggest drivers of our debt. I listened to the news yesterday on XM radio on an eight hour road trip. I listened to CNN, Fox, CNBC and barely a word about spending cuts fro the politicians and the media.

I'm afraid that most Americans are going to swallow the lie that our problems stem from rich people keeping too much of their own money. I fear that the real issue, spending, is never going to be addressed and we will never see true, substantive efforts to cut spending to the degree that our debt begins to come down.

No one in Washington has an ounce of courage.

[deacon blues]

Rand Paul has courage. I listened to an interview with him on Neil Cavuto's show and he was brilliant. There are a few in Washington with courage, but very few.

[ILG]

Yes, we need a leader with courage. He would probably be assassinated. I live in Wisconsin. Look what happened to Scott Walker.

[Jermyn Davidson]

Originally Posted by ILG

Yes, we need a leader with courage. He would probably be assassinated. I live in Wisconsin. Look what happened to Scott Walker.

What happened to Scott Walker?
Nothing.

The economy is improving and has been improving for the last 3 years.

[Dedicated Mind]

social security is not related to the debt. it is a separate solvent trust fund. taxes on the rich was the main issue of the campaign. that is what won the election. republican bubble news.

[ILG]

Originally Posted by Jermyn Davidson

What happened to Scott Walker?
Nothing.

The economy is improving and has been improving for the last 3 years.

What happened was a recall election....people up in arms, standing on street corners protesting. I was here. I saw it all. But ultimately the voters kept him. My point is, what Scott Walker did was not huge. If anyone came in and really tried any kind of austerity, he could very well be shot.

[ILG]

Oh, and if you call the debt growing by leaps and bounds an improvement, I guess you are entitled to your opinion. Maybe the oil and gas boom could actually help us, but the economy has been on life-support and still is. I am wondering what will happen with the up-coming fiscal cliff.

[Esaias]

Originally Posted by Dedicated Mind

social security is not related to the debt. it is a separate solvent trust fund.

[Esaias]

http://online.wsj.com/article/SB1000...mod=hp_opinion

For years, the government has gotten by without having to produce the kind of financial statements that are required of most significant for-profit and nonprofit enterprises. The U.S. Treasury "balance sheet" does list liabilities such as Treasury debt issued to the public, federal employee pensions, and post-retirement health benefits. But it does not include the unfunded liabilities of Medicare, Social Security and other outsized and very real obligations.

As a result, fiscal policy discussions generally focus on current-year budget deficits, the accumulated national debt, and the relationships between these two items and gross domestic product. We most often hear about the alarming $15.96 trillion national debt (more than 100% of GDP), and the 2012 budget deficit of $1.1 trillion (6.97% of GDP). As dangerous as those numbers are, they do not begin to tell the story of the federal government's true liabilities.

The actual liabilities of the federal government—including Social Security, Medicare, and federal employees' future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion. Nothing like that figure is used in calculating the deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.

[Esaias]

http://www.devvy.com/notax.html