Quote:
Originally Posted by Moneyguy1
Monetary problems could fill books. There is some sense in leaving the SS fund alone and not raiding it. IOUs are not good. The deficit is partially responsible. The interest on 9 trillion has a role to play. The money paid annually on interest is not available for other programs such as SS, MEdicare, "no child left behind", the infrastructure and such. There is much, much more.
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You are correct. Most fools and especially the "expert" economists must not realize that our massive deficit is probably costing us around $300-400 BILLION a year in interest alone. Coupled with that soon to be $900 BILLION that goes flowing out of our nation per our trade imbalance and there is virtually no chance for our economy to continue as it is.
Some goobers think that "the housing crisis" is the culprit and this is laughable. Yes, it's a big and sad deal for the folks who allowed themselves to get into the mess. But what do they estimate to be the cost of a total bailout (which IMHO they should not do) about $300 billion to $700 billion I think.
However, that is not even equal to the USA dollars that go flying out of our nation in a single year per the trade imblance mess. People like island911 and other fools can pretend this is not important but it is in fact deadly important in the long term. And that "long term" is getting shorter and shorter!