United States Budget Dilemma.wmv - YouTube Anyone have comments on this video?:saeek: “Liberty is telling people what they do not want to hear.” George Orwell [aka Eric Arthur Blair]
Thanks, BobbyJim. That was an simple, yet elegant description of the problem. I am of the opinion that we have to raise taxes ACROSS THE BOARD. Just raising taxes on "the rich" WILL NOT generate sufficient revenue to solve our problem. At the same time, we MUST get a hold on healthcare expenses. How can we have the most expensive healthcare system, yet not get the best results? We MUST at least look at what other nations do. What scares me is the power of special interest groups. The many subgroups in the Healthcare industry have a vested interest in the US continuing to spend huge amounts of money on healthcare. They can influence our politicians with lobbying and political contributions. Sometimes it is just a single line in a random bill that can wind up costing taxpayers hundreds of millions of dollars. Getting money out of politics should be our number one goal. The one thing in the video that I disagree with is whether the US will "Collapse" under the debt. Probably the only thing saving us is the fact that our situation isn't that bad relative to other countries. As a result, when other nations/organizations decide where to put their money, the US looks like one of the LEAST BAD options among a set of REALLY BAD options. We saw this when investors fled European bonds/currencies for the "safety" of US treasuries and the dollar. There are countries that are in better condition than we are, however they could not handle the huge influx of capital from investors. I have heard that some of Germany's bonds are now giving NEGATIVE returns, meaning that you have to PAY GERMANY for the privilege of loaning them money. It is like the old story about two guys in the woods who see a bear coming after them. The first guy wants to start running but the second guy puts on his gym shoes. The first guy looks at the second guy and says "What are you doing? There is no way you are going to outrun a bear." The second guy responds "I don't have to out run the bear, I just have to outrun YOU!!"
