I have enough faith in the nihilism and moral failure of this country to recognize this.
You can blast our tax system all you want, but no tax system will support the runaway debt that we have. Take 80% of everyone's income and the debt, and deficit, will continue to rise.
We don't have a tax problem, we have a spend problem.
Yes..
Like entitlements to illegal border crossers and their tagalongs...that would be a start...and of course a GOP President is going to have to be the one to inflict the pain.
Oh and how about reducing EBT to the truly needy....and rewarding work, not sloth.
A 20% across the board import tariff balances the budget tomorrow. Combined with Trumps income tax cuts and you have a recipe for an American economic renaissance.
False. Trump mentioned it and perhaps others did as well.
Actually, Donald Trump dealt with the problem
Of all those running, he has the most knowledge and ability for of dealing with debt
Entitlements are bleeding out of every pore. You can’t take in all the world’s trash and problems without going flat ass broke. There is just not enough to go around.
I see people working for non-living wages. They can’t even support themselves let alone a pack of others. It is not 50% supporting the other 50%. It is much much worse. There maybe 10 to 15% supportig the other 85 to 90%! This is simply unsustainable in every way imaginable.
The facts are ignored because nothing can be done. It has gone too far and the negatives have only been added to. It is a dismal situation.
So dismal in fact that about all there is to do is whistle through the graveyard because what is coming is too dreadful to think about on top of all the other problems we have just day-to-day.
Trump thinks he can make america great again by growing the economy. It is just too late for that but it is nice to think about.
The where we are reminds me of a movie with Gregory Peck, Ava Gardner and Fred Astaire. “On the Beach” It is about a different disaster but about as hopeless a situation as we face now.
Watch B0 Stevedunhambarrysoetorofrankmarshalldavisjrbathhousebarryhusseinsoebarkah take credit for a “super” economy, reducing the deficit, ending unemployment, getting “everyone ‘health care’” and averting a “Great Depression” all while taking zero responsibility for leaving an economic train wreck for the next generation.
Just like BJ Clinton.
Dont worry the elites have the nuclear holocaust planned to weed out the needed amount of the population,just think Hillary and all her friends will be saved in the bunkers to rebuild civilisation as we all fry
The amount of US unfunded liabilities is currently at the breath taking level of $103 TRILLION. As a taxpayer, your share of that burden is an incredible $859,000! This is ruinous in itself, but doesn’t even include your portion of the federal debt which is another $203,000 per taxpayer! Combined, each taxpayer owes more than $1,000,000.00. To say that this is unsustainable is a gross understatement.
The nanny state’s foundation is our unbacked currency, and the Federal Reserve
They say it’s will be 106% of the GDP by 2035. Actually it already exceeds the GDP. When they give their number they are looking only at the public debt and excluding the social security ious for instance. That only makes sense if you assume that the government is not going to repay the social security ious.
Trump mentioned the $19 Trillion Obama debt. There is no way it will ever be repaid.
The gross national income is $16 Trillion.
Don’t worry, Tom—Hillary! and company will present a comprehensive plan this week to reduce the debt burden their party created.
BTW—It was crap like this that caused me to cancel my Barron’s subscription years ago.
I am so screwed.
I’m not subscribing to Barron’s to read the article, although it looks good.
For generations, we’ve lived under the (mythical) assumption that America is incredibly wealthy.
Pay the lion’s share of NATO? Entitlements out the wazoo? Foreign aid to friend and foe alike? Another expensive new federal program? No problem! Cut the check, Louie!
Except we’re not ridiculously wealthy. Not anymore. Our factories and mines are gone or going. Those who still have jobs (I remember 40 hours, with health and dental.) are taxed to death. We simply don’t generate the raw wealth that we used to.
The only reason the whole thing hasn’t imploded — yet — is because our National Debt credit card hasn’t been maxed out and rejected — yet. The Fed is already printing money our of thin air (QE1, 2, etc.) and personally I don’t think Fort Knox holds what we’ve been told it does.
This thunderstorm has been building for generations and it will explode, sooner or later. Ask the Preppers about their top 10 disaster scenarios and see if this isn’t one of them.
Spending is only fueled by taxation.