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Old 07-31-2011, 04:18 PM   #43
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Quote:
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What do you all think about that "10% solution" thing they're talking about in D.C?

Idea being that the Treasury picks a date, and every single now-existing payment due from that date on is reduced by 10%, and the creditor can just like it or lump it.

Seems like it would save a LOT of money.
If you think our AAA rating is in jeopardy now. That would certainly make us a CCC or less.
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Old 07-31-2011, 04:28 PM   #44
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Sorry-

I didn't make that quite clear-
This has to do with the Federal Government's day-to-day obligations, not the money we've borrowed to stay afloat.

Payrolls, purchasing, entitlements, etc.
Just reduce them all by 10%, across the board.
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Old 07-31-2011, 04:30 PM   #45
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The funny part................Reids bill says we can save 1 trillliion dollars by getting out of the Iraq/Afghan war. Doesnt mention Libya.

Now, if that is true, lets attack Canada, Mexico, Australia, and maybe Germany,. Start the war one day, then quit. Why we could pay the debt off in 3 days with the money we will save.

They all say that the Tea Party and Repub parties are the problem. WELL, who do you think VOTED and ELECTED those people? The non residents of America?

LOL what we need is a good revolution...................................

The treasury holds 1.3 TRILLIIOIN DOLLARS of IOUs from the SS trust fund. They can just sell them anytime to anyone that will buy them.

There aint no default folks.......
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Old 07-31-2011, 04:42 PM   #46
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"Term Limits" for ALL elected officials... !!!!!
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Old 07-31-2011, 05:04 PM   #47
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Quote:
Originally Posted by Francesca
Sorry-

I didn't make that quite clear-
This has to do with the Federal Government's day-to-day obligations, not the money we've borrowed to stay afloat.

Payrolls, purchasing, entitlements, etc.
Just reduce them all by 10%, across the board.
That doesn't change my answer. It would still make us a credit risk. Think about it.
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Old 07-31-2011, 05:28 PM   #48
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The house has passed bills it's the senate that's holding thinks up. I guess they are as you say worried about re- election instead of doing something.
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Old 07-31-2011, 05:39 PM   #49
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That doesn't change my answer. It would still make us a credit risk. Think about it.
Well, I just don't know.
The way it's being kicked around, it seems to make a lot of sense.
It might be looked at by the markets as an austerity measure, too.
Since it's directed at saving money by cutting expenses, and directly affects only the beneficiaries of Federal Spending... isn't it like turning the thermostat down to save on the electric bill?
And it sure would spread the pain around.
Gosh, more than 50% of Americans get some kind of money from the Feds, one way or another. If we need to cut back, why not do it across the board?
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Old 07-31-2011, 07:03 PM   #50
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The problem about across the board is this.

I draw SS that I PAID INTO. There are many that do draw from the SS fund that never paid a dime in.

Education grants are to the people who supposedly need them. Although the govt allows a family of 4 in say, NY , quallify for grants, even thought they make 130,000 per year, and they get CHIPS free.

I am on VA as a disabled vet. Yet there are many people on cat 7and 8 that have no disability and are quite wealthy.

I can go on about different programs forever. Cutting across the board is not a fair way to reduce debt. Cut what does not work for EVERYONE, not just the ones that want it.

How many on this forum have been out of work for over 3 years? Not many I suspect.

How many on this board are on food stamps, Not many I suspect.

How many on this board draw welfare, Not many I suspect.

So if you cut across the board, you may hurt the ones that actually need it.
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Old 07-31-2011, 07:24 PM   #51
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I have enough food and supplies to last a few weeks. I have pull a little extra cash out to cover needs during that time. By then WE THE PEOPLE will have spoken and let those XXXXXXXX what we think and PLEASE remember this come election time.

They need to pay for this head ache.

Enough of the politics

Have a Nice Day
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Old 08-01-2011, 05:26 AM   #52
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Part of the trouble is the American people have a short memory and come election time they will have forgotten all about the ineptness of our elected officials and only hear the promises made from the campaign trail .... I hear on the news this morning they have reached an agreement, you know as well as I that it will most likely be the same old same old they have been talking about for the last few months.... I'm ready to throw them all out no matter their party !
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Old 08-01-2011, 06:54 AM   #53
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"Term Limits" for ALL elected officials... !!!!!
AMEN!

Just say NO to career politicians
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Old 08-01-2011, 07:36 AM   #54
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We gave Pakistan billions in aid but our own Gov Accounting Offices say we and the Pakistani people have nothing to show for it. Where did the money go?? Wouldn't it have been just as benificial to give people on Social Security a COLA??
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Old 08-01-2011, 08:28 AM   #55
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Ya know,....after following the bi-partisan foolishness demonstrated by OUR congress during these past few weeks, and longer, it's clear, at least to THIS American, that it is time for a REAL housecleaning come Nov. 2012.

AMERICANS !!!.... let's take a little time out of our lives in November, 2012, to clean up that dysfunctional operation, that got away from us while we were living our lives, so that we can freely return to living our lives.

As AMERICANS, we were NOT meant to spend our lives worrying about, arguing about, fixing, focusing on, and feeding some monolithic outfit that we hired. After all, there's SO MUCH MORE to living our lives than spending our lives and the time we are given having to control our hired help!!! Eh???

Steve
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Old 08-01-2011, 09:31 AM   #56
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When was the last time you heard of a Peaceful Revolution?

This Country will never be like it once was.

A few weeks of food, cash and supplies isn't near enough.

Mark
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