How to fix the economy and get our nation out of debt?

not quite... its more like having excellent credit (the best credit) and making $50,000 a year and spending $150,000 a year and putting the difference on on interest bearing IOUs... that people gobble up because you have the best credit

 

theres a lot of stuff in this country that needs to be fixed or costs money... none of which cannot be accomplished without taxes. the problem is that we have a deficit... the first step is to stabilize this then implement spending restrictions... say equal to GDP growth

raise taxes/cut certain waste and fix deficit and other costs (infrastructure, etc) then implement "Spend-As-You-Go" with % GDP annual raises to spending... economy does well bank $$$ for when economy does bad for extra costs (unemployment, "bailouts", etc)

 

Sounds like you should run for office .

 

He's 18 years old.

With all due respect, in today's world, i certainly wouldn't pin all of my hopes and dreams on 70 year old quotes from historic figures holding the same value today.

 

its easy... and I'm sure every politician knows it too... but politics alway get in the way of the truth

The problem is that too many people have separate competing agendas (i.e special interest groups) and no politician has the balls to go against them... they try so hard to satisfy all agenda but end up getting nothing done which under normal circumstances is good

However, we don't live in a time of doing nothing is good... we've gone down this extreme path for the last 40 years and now are in a place where action is needed however, our current political system does not foster action

 

Re: OP: Not gonna happen while we're alive. China and India need us to keep buying their cheaply made pieces of shit from wal-mart. They'll keep loaning us back our own money until they no longer need us.

Then...watch out.

But that'll be several decades or more from now.

 

I am referring to overtaxing
if the government taxes its citizens too much, trying to provide for its citizens, it isn't doing anything, as it is taking from its citizens that its citizens can use to pay for things for the citizens that many times, would be done by the citizens if the government didn't tax them as much as they do
i do believe in taxes, so the government can provide its citizens with things that citizens cant do (like roads, military, ect...) but things like health care, the government takes money that the citizens would use to pay for their health care, and then try to pay for the citizens health care with the taxes.

ps: the health care is JUST AN EXAMPLE, not meant as anything but that

(if you want more, i can defend my point better, i just need specifics on what topics to hit on, so i can do better than general information)

 

oh, and i know more about the government and economy than you would expect an 18 yr old to know

and the constitution is much older than 70 years old

 

This mess all started with the housing bubble crash that was bound to happen. Not everybody deserves a home mortgage, you have to earn it. The government in the late nineties decided to back mortgages that were considered very high risk. The banks went along with it and recorded huge profits only to pay for it later. The left likes to blame banks, the right likes to blame congress. IMO, they are both to blame, along with people that used sub prime mortgages to buy houses they could not afford.

I'm not smart enough to know the answer, but I believe time is the only cure for this economic mess. Americans are very resilient and eventually we'll pull through like we have in the past. I wouldn't count on Washington, though. They seem way out of touch and keep spending money they don't have. I heard the deficit spending for the month of February was over 200 billion. This has to stop. JMO.

 

Good luck. Every president since and including Reagan has been a massive deficit spender, with the exception of Clinton's last year in office.

 

Good point. It'll take a miracle of some sort to pull that off.

 

Yeah. On top of the poor presidential budgeting, congress hasn't exactly said peep either...(recall, they do have to approve the budget)...they're all in it for themselves and their high contributing buddies...

 

last term... we had a surplus like 3 of those years

 

Clinton did have the advantage of the booming economy due to the dot com explosion. I give more credit for the late nineties budget surplus to Bill Gates than Bill Clinton. However, I did agree with his pay as you go philosophy and although I did not vote for him, I do believe in his last years in office, he was more fiscally responsible than Bush or Obama. JMO.

 

Pure numbers, the budget surplus was only there in dollars for the last year. However, it hardly matters. The subject is way more complex than how the numbers are jiggered onto the graph.

 

yes he had the benefit of a booming economy and....

a rational tax policy

Bush also had a booming economy but he made to big a cut in taxes and added a huge entitlement program: Medicare prescription drug plan not to mention the wars and resulting huge increase in Defense spending...

He cut $800 billion in tax revenue ad added $600 billion in new spending without a plan to cover it...

 

Awesome links. I cut everything and we were still too far in the red. We need to be in the black for about 20 years before we turn this mess around.

 

I say we need to stop helping out other countries whenever they are in trouble, when no one comes to our aid when we need it.

 

wow look at that... I made a $200 billion surplus

bank it for a rainy day fund