Guys relax, US takes in 2.7 trillion a year in taxes

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The $800B package bail out by Treasury is a sensible move. It will save the US financial house and whole societies from melting down and resulting chaos.

However if US government reduces its Defense budget by $100B and cancels out the FUTILE war on terror then it will save $250B a year easy. In three years the bailout package will be paid off. US military is good 10 years ahead of the nearest technological force UK/France etc. It can relax for a while easy.

Government also runs 300 to 500B of annual budget deficit, so other areas will have to be found out to cut costs or infuse cash for higher returns.

 

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US should also ban the guns and arms possession. This will cut down crime and $5B savings are possible from the Justice system alone.

US populations should cut down on gasoline use by 10-20%..........does not matter if oil is at $150 or $80 per barrel. More environmental benefits too.

 

[G-Boa]

Quote from alientrader:

Invade Canada, and seize their national resources

LMFAO!!

 

[Misthos]

Quote from ang_99:

Just shut everything down for 6 months.

Problem solved.

Next.

Do you have any idea how much government contributes to GDP? It's not so easy. What do we do with the resultant unemployment for those 6 months? All those government workers? Government contractors? They contribute to GDP in a significant way. That's a recipe for an instant Great Depression. And after those six months our national debt will be lower, but the great Depression your solution would cause would kill tax revenues and we'll be back to deficit spending while accomplishing little.

It's not easy, there are no decent solutions.

 

[TradeWarrior310]

Quote from alientrader:

Invade Canada, and seize their national resources

lololololol

 

[Compulsive]

Pray to Jesus Christ so He can save us

 

[Wallace]

Quote from alientrader:
Invade Canada, and seize their national resources

Canadian " national resources " are of course its people, but what you think seizing us
would do for you i don't know, a liability i think since although North Americans we do
things very differently here and might then - as 'Americans' - become a thorn in your side
requiring for instance we be provided with our healthcare service rather than yours and a
paliarmentary system rather than yours

so far as seizing our 'natural resources', you already have those delivered to you, however
as your housing industry is tits-up you've no need for lumber which has resulted here in
mill closures and unemployment; with crude oil's price dropping, the oil sands become
less financially viable - you're the major recipient of that product; you'd have to take-over
building the natural gas pipelines being built on your behalf

and regardless of the sovereignty of our natural resources, you'd still have to pay for them

 

[vv111y]

Quote from alientrader:

Invade Canada, and seize their national resources

You can get our dirty Tar from

Our Cold .... Dead .... Hands!!!

Yaaargh!

 

[arealpissedgoy]

Quote from toc:

The $800B package bail out by Treasury is a sensible move. It will save the US financial house and whole societies from melting down and resulting chaos.

GS and Paulson were working on this bailout months ago.

GS has more toxic mortgage related debt than any of the other IB's. They've been quiet because they knew about paulsons bailout.

who thinks the largest purveyor of toxic mortgage derivatives wouldn't have been next after a MS sale?

 

[Champion]

Quote from toc:

The $800B package bail out by Treasury is a sensible move. It will save the US financial house and whole societies from melting down and resulting chaos.

Exactly. Look at all the little kiddy winkies running around ET, just bunches of idiot Chicken Lickens shouting, 'The sky has fallen in'.

The current melodrama will pass. They always do. The whole purpose of Federal Reserve & Paulson policy & initiatives is to make sure the subprime blow up and the credit freeze doesn't reach out and hit most ordinary Americans.