Friday, February 12, 2010

 

Fiscal Responsibility

So Obama is now talking about how he is worried about the deficit.  But in 15 months he has increased the debt more than Reagan or George W. Bush did in 8 years in office.  With his budget by 2015 our national debt will be 103% of our GDP.  Most economists agree that the maximum debt that a nation can survive is 90% of GDP.  Something needs to be changed and it looks like it will be mine and my children's generations that will have to pay to clean up the mess left by the baby boomers.

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Comments:
If your generation is any more willing to pay for what it wants as it goes. I don't blame Obama for this as a lot of this is multiplying but I also don't just blame Bush. I think it's Americans who want it all for nothing. They don't want to pay taxes for what they say they want. The end result is more and more debt. It does not work for us in our homes and won't for our government. Some say it had to be to avert much worse for the economy but if that is so, then it should begin to look up and we need to face higher taxes to make this right. I doubt much many Americans will agree with that. Most think they shouldn't pay it and someone else should. Even those who work for the government, get pensions from it, receive its benefits, still find fault with anything it does. We need to be more fiscally responsible but that means Republicans with their desire for more and more wars and the consequences of injuries that often take a lifetime of responsibility as well as Democrats who want this or that social program. We all need to recognize we cannot have that which we are not wiling to pay.
 
I agree some stimulus to gets some jobs going until the economy recovers would have good idea. But spending almost a Trillion dollars on a bunch of pork and calling it for infrastructure was just wrong. Of the 800 Billion only 28 Billion was for transportation. That does not sound like an infrastructure bill that sounds like waste. Kind of like the so called "Jobs" bill that just got defeated had all kinds of things that had nothing to do with creating jobs. There was a one year extension to the Patriot Act buried in it among all the pork.
 
I heard that about the patriot act and was disgusted. I said when we let the Bush administration put in all these take a ways from our freedoms that once freedom is taken, those in power aren't eager to give it back. Sadly it looks like that is so. A lot of the so-called pork is things like railways; so we'll see how this ends up. Some of that first stimulus was held back to dole out but the question has to be who gets it and what happens with that money? I don't know right now but doubt Republicans do either. We should watch it like a hawk to be sure that those who donated money to Obama aren't the first responders! I have limited trust in any political party.
 
I agree that High Speed Rail would be a worthwhile thing to spend money on. Unfortunately the amount from the Feds is not really going to do anything. Most of the States are upside down fiscally. And the States cannot print money like Obama can. Here in Cali the Feds kicked in $8 Billion. The first leg will cost $52 Billion, but I doubt the environmental wackos will allow it to be constructed anyway.
 
the left wing wackos are like the extreme right wing in that they are not big in numbers and in case you didn't notice the Supreme Court has shifted to a non-environmentally friendly political body. If the lefties sue,it'll go to court and when it gets to them, the rails will go through.

This is one time they would also be right to do so. We need more rail lines to take more traffic off overloaded freeways. It would be nice for those of us who don't find air travel convenient. Like where I live, it takes me hours (on the road) to get to and from an airport but a train that came through a closer city, if it was high speed, could be very nice and I'd use it.
 
High-speed rail...
Where's the money gonna come from?
We're broke.
And two further questions-

...Who's gonna monitor all those miles and miles of track out there in someplace like Nebraska or Kansas? Would you ride a train going 200 miles per hour knowing there was absolutely no way to insure some prayer-rug loving radical could blow a section of track just seconds before your "Tres Gran Vitesse" arrives?
Not me.

...Add to that the loss of freedom to go where YOU want, when YOU want, and the fact that it can be argued most IF NOT ALL of these boondoggles have to be heavily subsidized, and I'll ask again...
We're broke. Who's gonna pay for it now? China? Our Great-Great-Great-Great Grandchildren?
 
This is an interesting site on the debt and who did what to earn it ZFacts It never made sense to me how we could fight two wars and have big tax cuts. Obviously, we couldn't...
 
Hey Ingineer . .

You apparently gave up on this blog.

Do you have another going now?

Thanks

Bump
 
Hey Bumps, thanks for stopping by, but I have not started another blog. I have been satisfying my blog fix by commenting on other peoples blogs. And I have even cut back on that.
And summer is starting and that is when I am busy with work and real life. I will still post something here from time to time. But not very often.
 
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