a year ago billions were not thrown around in discussion of recovery
now, billions are seen as normal chat for the fan fair, what's another 800 billion in spending?
so what will new costs mean?
US national debt is approaching 10 trillion
by the end of 2009, debt will equal GDP, i.e., debt will be 100% of GDP, this has never happened
one thought is that the US can just keep borrowing, let's look at that:
by 2012, national debt will be over 12 trillion, at that point, none of our debt owners will be able to support US debt (for many of them it would approach 3 times what they could support)
taxes the answer? spending has more than doubled in the first half of 2009, so taxes will need to double to cover that, and or costs reduced, likely we end up at income taxes of 60% and inflation of 100%+ over the next two years
but changes to healthcare will increase quality and decrease cost?
look at the history, each time the government has intervened, costs have gone up, not down, and the cost increases carry indefinitely into the future, a perpetuity for the next generation and their grandchildren
so, medicare, socail security, ponzy schemes? i know by the time i get there, if i get there, the bolus of baby booners will have eaten that bowl empty, period
can we just ignore the 900 pound gorilla of cost? clearly not
 
 

Discussion started by Paul Keough , on 14 October 12:46 PM