Originally posted by vvv
30 trillion in debt, equal to 3 times GDP, with commensurate annual interest payments of 2 trillion, doesn't leave us much space to move, and it looks like we're not going to be seeing fiscal propriety and stability any day soon again, either.
included in the 30 trillion in natl debt is also private debt, we are basically a nation where no one seems to see any merits in saving money anymore, be it for a rainy day, retirement, whatever. understandable during stock market boom days with the feel-rich-factor, but not necessarily financially sound, as can be seen when paper wealth suddenly evaporates.
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The conflicting answer here is that the media takes a slowdown in consumer spending and increased savings as a lack of confidence in the economy. There is some magical comfort in knowing that people
ARE spending lots of their money. And when parents do take the saving posture, the evil focus is turned to the advertising community to attack the youth markets as they supposedly have unlimited capital. Their parents!
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debt is high, 8 million are unemployed post bubble, many of those without what in most other highly developed countries is seen as the most basic insurance, health and pension insurance.
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I have a real problem with faulting the masses for lack of taking charge by a few. Don't get me started on the insurance issue. That is truly a cop out. Let me give you one answer that is available to many of us. My brothers and I realized long ago that one day our parents (both working) will possibly need to be assisted in their insurance costs.
We went out and got a whole life insurance policy on each of them so that cash would be available if and when it is needed. We talked with their insurance agent and got an estimate on what it would cost to maintain their premiums until both were at least 95 years old. So now, as responsible sons, we are sure that our parents will be covered as they get old. Once married, I'll do the same for my wife's parents. I also have made sure to cover my parents on one of my policies. All of this is in addition to their own coverage.
I am so sick of hearing senators saying things like, "My parents are wondering about medicine and its costs," all while they earn a few hundred thousand dollars a year. Personal sacrifice for the parents is just too deep a concept.
I don't expect you to maintain full care for MY parents with your tax dollars. Assist me? Thanks! But the main needs will be addressed by I and my brothers. More folks do need to wake up, and plan!
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according to the ILO, the international labor organization of the un, workers in the usa are putting in more hours than anyone else in the industrialized world, counter to the trend in other industrialized nations, where the number of hours worked annually fell during the 1990s, and with no monetary reward for increased work in the usa vs many other highly developed nations.
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Please tell me this isn't the same U.N. that is honestly contemplating making Americans pay a world tax?
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while other countries certainly have their problems one thing seems rather obvious: and that is, that as measured by the wellbeing of the largest majority of a population, namely the middle class, we have a lot that can be improved relative to other countries, with no detriment to the ability to generate wealth and become rich for those with the ability to do so.
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Show me a middle class in another country (first) that enjoys 1/3 of the benefits of the middle class in America. I can't believe that you agree that there is a middle class somewhere in the world that is living better than here in America. Please document that one for me. And please don't single out some solitary difference, I need to see the WHOLE picture.
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while i'm definitely not in favor of high taxes, let's remember that the real reason they are high in many cases is less because benefits cost so much, it's more to do with incompetent politics.
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Not benefits, phantom entitlements. Things like a) the entitlement of cable television; b) the ability to drive well past the age of 70 should they choose; c) the ability to live way out in the middle of nowhere and have the full city services that those who live closer to the utilities enjoy; d) the right to have the cost of anything they think they need for better life subsidized by the masses if it benefits them, etc. And even more so, how dare you the taxpayer decide that you don't want to pay more for them to enjoy those privileges/benefits/entitlements. Please show me the country that even entertains the ability to do all of this let alone the interest.
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i don't think that al gore has the stuff we need in a leader, just as i don't think that bush has the stuff.
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Another difference for us. I think Bush does have enough fortitude to follow through on what he believes. Algore, I don't feel would follow through on anything that wasn't poll driven. The polls show that the democrats and the republicans both have about 46% support for their ability to handle the economy. I'm willing to see.
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but what i do think is that the middle west is much more important right now than the middle east, to quote from the speech that never was, hehe.
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Please call the senate and express your anger. That will immediately tell you were the trouble is. The only hold on the progress that you seek can definitely be found there.