The ET Caucus
- Thread starter RCG Trader
- Start date
Good thread RCG, sorry to see almost get hijacked.
I would like to say that, as a fiscal conservative, I am a bit worried about the rising debt/liability.
But, we need to keep things in perspective. If you look at the complete balance sheet, the Comprehensive Annual Financial Report, or CAFR for short, you will see that we have over $200 Trillion in Net Worth. It would be $14 Trillion higher if we had not debt. Now, does this mean our level of debt is good? Of course not. But since we have about 15 times that in net worth, we are not as in a mess as many say.
Of course, we can't just start selling off assets to pay these debts, and we sure don't want to continue paying interest, even at these artificially low rates.
Settle down, cut spending x times more than any damn tax increase, and repeat.
Regarding SS, we could raise the age or the annual limits, either on will help.
But, I agree with CO who says that SS should be addressed separately from the overall debt mess.
I would like to say that, as a fiscal conservative, I am a bit worried about the rising debt/liability.
But, we need to keep things in perspective. If you look at the complete balance sheet, the Comprehensive Annual Financial Report, or CAFR for short, you will see that we have over $200 Trillion in Net Worth. It would be $14 Trillion higher if we had not debt. Now, does this mean our level of debt is good? Of course not. But since we have about 15 times that in net worth, we are not as in a mess as many say.
Of course, we can't just start selling off assets to pay these debts, and we sure don't want to continue paying interest, even at these artificially low rates.
Settle down, cut spending x times more than any damn tax increase, and repeat.
Regarding SS, we could raise the age or the annual limits, either on will help.
But, I agree with CO who says that SS should be addressed separately from the overall debt mess.
I am outraged at all excess spending. We have some solid areas that can be cut easily. Foreign Aid needs to be addressed, the war spending, but we need to stay strong, and don't need a bunch of unemployed military personnel to add to that problem. Cut all tax subsidies to big corps who are making over xxxx amount each year, they have proven they don't need any help. And, yes, stay the hell out of our SS.