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I am no longer sure that a majority of Americans have the capacity to understand what a trillion $$$’s is, besides a big number. More than a million and even larger than a billion: all just really big numbers. If you gave 90% of Americans a million $$$’s, the majority would consider themselves set for life (not really true).  

We know that the federal government is anything but prone to listen to the people for direction, seemingly, no uncannily capable of deciding for itself what is in our best interest, go figure.  Any family that lives through a checking account and with credit cards understands what a “debt sealing” is if by another name. Since this covers a majority of Americans, why is it seemingly so difficult for our elected officials (the self-defined elite) to understand the concept? Could there be a conflict of interests here?

The debt ceiling is by design a device built into the system to PREVENT the federal government from indiscriminant spending beyond the ability of the Country to be accountable. In a current fervor of spending cuts … it is inconceivable that our providing a larger purse would in any way contribute to a reduction in spending. But then, how long has it been since our government has done much of anything beyond promoting its own self interests?

I would hate to think that our downfall would be the result of our inability to be educated enough to understand how this country works. I can't help but wonder how is it that people can go about their daily lives being completely ignorant to what is happening on Capital Hill, not realizing that we are facing a real major problem that can affect us in a way that could be devastating for our future.

It's as if our society has evolved to become so sure of themselves that, just like most people can't grasp the concept of what 1 trillion really means, they don't seem to think that anything can happen to this nation. That destruction and chaos of an entire country such as those seen in movies like Terminator, Resident Evil and Independence Day is impossible and will never happen because we are too powerful, too big. Although these movies are exaggerations and situations not likely to happen, the idea that we can become a third world country is simply because we ignore what is happening, because we don't make it our business to educate ourselves beyond what we think is necessary, because we don't believe that status quo can be changed, and more than anything because we have convinced ourselves that the only power we have (sorta) is at the voting booth and 2 and 4 years.

In a way sometimes I think we deserve to get screwed, lose our position in the world as the most powerful country an more than anything, we deserve anything other than democracy. I say this because todays generation does not want to do any of the work itself, it wants someone else to do it for them, mainly the Gov't, and this can only suggest that people do not want democracy, they want dictatorship. Makes me wonder why Cubans and Mexicans want to come here so badly. The way I see it, they are simply switching one dictatorship for another that is slowly but surely coming.

First line - bring/Brink.

I agree.  But I am not going to hold my breath while the republicans threaten then cave.  It is unfortunate that there are only a few handfuls of Tea party activists in congress - not enough to make a difference yet.  But I do not trust the Republicans (I do not call them RINOS since they are republicans, just not conservatives) to go along.  They like the Capital Parties and accolades they get from the fawning media just too much.

I am so tired of listening to people and politicians and pundits refer to social security as "entitlements". Do they not realize that in every paycheck we pay into that system, and then take short term loans in order to live until the next one. Do they not also realize that this is a very efficient form of insurance devoid of the burden of profit share that feeds the multbillion dollar insurance sector. Let's try to find another term please. 

SS is perhaps the only TRUE entitlement.  It is a pact between you and the government.  They are supposed to take YOUR money and invest it so that when you retire you have something to retire with.  So SS is YOUR Money. 

SS Disability, and all the other pork they threw on it is not. Nor is Medicare or Medicaid.  While you do pay into those, there is not the same pact with the government.  And indeed, Medicaid is pure welfare.  All the other "entitlements" are like that as well- pure welfare.  So when they start talking about cutting, those should be top of the list.  It is always nice to give to charity from what you have. It is stupid to give when you have nothing to live on.  We are at that point.

Tal- Part of the problem is a segment that want the country in ruin. These individuals and groups no longer hide in the shadows, they are right out in the open about it. One just has to look at the recent union protests garnering open support of communist groups. The unions and the Democrats did little to distance themselves from them (maybe the "enemy of my enemy is my friend" thinking). You also have anti-capitalists, anarchists, and even religious fundamentalists that would like nothing better than tearing down the "old system" for something more to their liking.

Now these may not be large, but what is surprising is the lack of concern and the "oh well" attitude by a large section of the population. The indifference ultimately weakens unique American values and eventually will be our downfall. Some may not notice, but it's way more prevalent than 10 - 15 years ago.

Rome (especially the Western Empire) rotted from the inside. It didn't happen over night. I often wonder if the some Romans of the time said, "Oh, there are just a few Barbarians here, they will never change what we built". I don't compare the Roman Empire to the USA. No nation in history has been as generous to both friends or enemies than us. I does leave little hope for when we no longer exist in our present state. 

Money (or lack of) will surely do what no army has been able to do. If the economy collapse, it won't take long for the vultures to pick apart what little is left.   

The SS you pay for isn't an entitlement... its a ponzy scheme. It is unsustainable and bad for entirely different reasons.

The sad part is that people actually believe this shit. Ponzy schemes are not efficient insurance, not by a long shot.

@Nitro Cruiser: yes, the unions are a menace.

That will never happen. That will stop the cycle that drives the US. They will keep raising the ceiling until not one government around the world will accept the US dollar then inflation will skyrocket. I think the US is already dead and is just running around like a chicken with its head cut off.

It is typical that the discussion always turns to cutting services and breaking unions when the US needs to be stopped defense (what a joke to use that term) spending.

Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."

Rumsfeld 2.3 Trillion Dollars missing Pentagon

But I guess cutting money from seniors and cutting unemployment is the real problem. What a joke.

END THE FED

 Since the U.S. has reached its debt ceiling, will hyperinflation occur soon after August if Congress does not raise the debt ceiling and the government is forced to default on its debts?

By the government claiming it will default on its debts to foreigners if they aren't able to borrow more and get more deeply into debt, it is admitting to running a ponzi scheme. The debt ceiling will be raised and even if it wasn't, it doesn't mean the U.S. will have to default on its debts. With our current record low interest rates, the U.S. certainly has enough tax revenues to continue making payments on its debts if it made major cuts in other areas of the budget. If the U.S. did default on its debts, that itself wouldn't cause hyperinflation. What will cause hyperinflation is if we continue printing the money to pay back our debts, which is what NIA is deeply concerned about. 

http://inflation.us/nianswers/

Ok, I was talking about intent, not actual fact.  It is SUPPOSED to be an entitlement since you were promised it was your money.  However, yes it is a ponzy scheme since the money is not invested, nor kept in a lock box, but spent by the government until you are ready to draw.  Then they take the current payments of workers to pay you.

Very few powers were enumerated to the federal government in the Constitution.  About the only one that costs money is Defense.  But even if we were to just junk defense altogether, that would barely dent the deficit.  The sad fact is the welfare programs now spend more than the government takes in.  The only solution is to cut them.  period.  That is not politics.  That is reality.

I give to charity a lot more than Obama or Biden do.  However, the times I was laid off from work, my charity giving dried up since I had to pay obligations I incurred (food, clothing, shelter, fuel) before I could think about being generous.  Had I been giving out money, I would have been giving out money that was not mine to give.  So it is with the government.  Even if you confiscated (you can only do this once) every penny of the "rich", it would not eliminate the deficit for this year.  It is indeed spending and services.

Social Programs are designed to help the economy and the people that actually contributed to that economy. What good is this military (that has not 1 thing to do with defense) to the peoples welfare?

How about bring all the jobs back from overseas and maybe Americans will actually be able to contribute to the government. Make the corporations pay for the unemployment since they caused it.

 2010 Military Spending

Budget Breakdown for 2012

 

Defense-related expenditure	2012 Budget request & Mandatory spending[18][19]	Calculation[20][21]
DOD spending	$707.5 billion	Base budget + "Overseas Contingency Operations"
FBI counter-terrorism	$2.7 billion	At least one-third FBI budget.
International Affairs	$5.6–$63.0 billion	At minimum, foreign arms sales. At most, entire State budget
Energy Department, defense-related	$21.8 billion
Veterans Affairs	$70.0 billion
Homeland Security	$46.9 billion
NASA, satellites	$3.5–$8.7 billion	Between 20% and 50% of NASA's total budget
Veterans pensions	$54.6 billion
Other defense-related mandatory spending	$8.2 billion
Interest on debt incurred in past wars	$109.1–$431.5 billion	Between 23% and 91% of total interest
Total Spending	$1.030–$1.415 trillion

 Dont forget to add foreign aid which is just a nice way of saying "here are tanks and planes, go kill our mutual enemies. 3.2 billion to Israel alone in 2010 and Egypt's dictator was next on the list. 

So this is what is allocated then you got trucks backing up to the pentagon and removing loads of cash as well. What is in the budget and what is actually spent are 2 totally different numbers. Ever hear of cost over runs? WTH, almost 500 billion a year just on the interest for other wars and that will just keep rising. Ah hell that's OK we will just send a 70 year old vet to go work at a job in a sweat shop in China because THERE ARE NO JOBS LEFT.

No, social programs are not.  You do not get richer by taking a dollar from your left pocket and putting it in your right pocket (with the government, you have to remember to remove the vigorish from the dollar as well).

Now you are just being silly.  While you can eliminate the defense (do not expect to be speaking english much longer then), the "Pensions" are the same as SS.  They do not get SS, and that is their retirement - a debt already incurred (again - giving out charity with money that is not yours?)

The interest on debt is a non-sequitur.  It is not defense as it is on debt period. and since Defense is the only thing the Constitution calls for, a better argument is the interest is for the welfare that is not covered constitutionally.

but in either case, it does not matter.  You are obligated to pay your debts and the interest on them - so are nations.  So the real figure is still only 700b.  The deficit is 1.6t.  The wealth of the rich is just under 1t.  Like the Daffy Duck cartoon where he wanted to break into show business - you could balance it that way once - just once.  And then you would have no country left to worry about.  I am sure some out there would love that.  Personally, I kind of like the country and do not want to get rid of it, so I will avoid doing what you suggest.

 

Edit: BTW - the first 26 weeks of unemployment IS paid by corporations.  Corporations pay a tax on salaries that goes to fund the program.  If you are in a high turnover industry, your rate is higher.  It is the other 73 weeks that the government is giving out and is essentially the same as the other welfare checks.

For the folks that like pictures.

Defense spending covers all Americans. Entitlement spending is for the few (but growing), and displayed here under Heath and Human Services, basically anyway you want to dice it, redistribution from the haves to the have nots. Remember 47% of Americans effectively pay 0 in taxes, with a portion of those actually getting a net gain. If I were a betting man I would venture to say the the people recieving H and HS, fall into that 47% bracket.

DG I'm in for over 14% of my pay for charity this year so far. Many concervatives dig deep on there own. while many liberals want one to dig deep for the government to deciede where it goes, which doesn't nessisarily mean charity will see any of it. Funny how that works. One would believe the individual knows where the money is needed better in their area. Well someones got to pay for those government union bosses to lobby for the Democrats while the taxpayer pays their salary.

it might shock you, but "the government needs to spend within its means" is not codeword for "cut all social programs and don't cut anything from defense". Yes, we could stand to cut some on that as well. Specifically, cut enough so that we spend within our means.

But we can't just eliminate defense spending as some would like, as then we will be defenseless... and the term defense is VERY apt for the USA army since its not a conquering nation. It had many opportunities and advantages and could have conquered the whole world, it chose not to do so again and again.

The Army does what it is told, period. What again and again examples are you refering to here? I would think Hitler showed the world the consequences of a total worldwide military takover attempts, at the least. Vietnam proved the problems involved with an unjust war and a large American bodybag count. And economic imperialism is much more lucrative and far easier to sell the sheeple on, after all they can and do claim all their actions are because we want everyone to experience the USG's version of freedom and democracy, yea right.