[TommyJefferson]

$this->bbcode_second_pass_quote('smallpoxgirl', 'S')uch as?

[hull3551]

$this->bbcode_second_pass_quote('cube', 'W')hen it gets bankrupted and must pay back not in the form of paper money but instead hard assets like :land, natural resources, factories, ect...

[rogerhb]

$this->bbcode_second_pass_quote('smallpoxgirl', 'T')hey may extort money out of my paycheck every month, but I'll be darned if I'm assuming responsibility for their debts.

[smallpoxgirl]

$this->bbcode_second_pass_quote('rogerhb', 'N')o, you've got it all backwards! You are a shareholder in the great US Govt and underwrite the debt.

[rogerhb]

$this->bbcode_second_pass_quote('smallpoxgirl', 'T')hat's garbage. Shareholders get to direct what the corporation does. I never bought into the corporation and I don't get any say in what it does. The governments relationship with me is a protection racket. You pay us what we say and we won't shoot you or kidnap you and hold you for ransom.

[AmericanEmpire]

$this->bbcode_second_pass_quote('', 'I')t knows that there is no tomorrow, so there is no point in getting ready for tomorrow.

[TommyJefferson]

$this->bbcode_second_pass_quote('Laughs_Last', 'T')he federal government is 80% monkey-on-my-back.

[gary_malcolm]

$this->bbcode_second_pass_quote('rogerhb', '
')You vote in the CEO and board of directors every four years.

[smallpoxgirl]

$this->bbcode_second_pass_quote('rogerhb', 'Y')ou vote in the CEO and board of directors every four years.

The fact that the CEO and board are more corrupt than that of Enron does not change that.

[smallpoxgirl]

$this->bbcode_second_pass_quote('TommyJefferson', 'B')ut you aren't the typical voter. The American people are getting from their government exactly what they want.

[rogerhb]

$this->bbcode_second_pass_quote('smallpoxgirl', 'I')'m tired of being terrorized by the IRS to pay for your toys.

[TommyJefferson]

$this->bbcode_second_pass_quote('smallpoxgirl', 'I') never met you and if you want all that crap, you need to pay for it yourself.

[dbarberic]

I read somewhere (I think in the book Empire of Debt) that the current debt has crossed a point where even if we were to tax businesses and citizens at 100% of their income for a year, it still would not be enough to cover the budget deficit and we would have to continue to borrow more.

On a simplistic level, there is really only three ways out of this:
1. War - many national debts are written off as a result of war
2. Increased Taxation - self explanitory
3. Inflation - Just print your way out of the mess

At this point, I believe that we are going the direction of number 2 & 3. Number one would mean declairing war against our largest lenders (Japan and China). No reason to do that as long as they are willing to continue to accept our worthless dollars.

While Bush is cutting taxes on the wealthiest, don't forget that AMT (alternative minimum tax) has not be resolved and is sneaking up on many middle and upper middle class Americans. Stealth tax increase.

With helecopter Ben as the new Fed Chairman and the elimination of M3, we are setting the state for a new round of money printing.

[Chaparral]

Pfffft! I already paid mine last year. Nice thing about getting out of real estate investing and into commodities is that the overhead can be a lot less. No property taxes, special assessments, rent stabilization fees, business licenses, operating permits or any other crap.

Funny thing how I find myself agreeing more and more with Gary Malcolm on the healthcare and elderly tho. I must not be as hard core a libertarian as I used to be

[Pfish]

$27,000?

Of the 8.2 trillion dollar debt, isn't 3.8 trillion of that owed to ourselves for repayment to Social Security? Which makes us responsible for 4.2 trillion owed in T-bills etc....

My solution is to find an age to start paying Social Security and Medicare as to erase the 3.8 Trillion owed. Say we start SS at age 71 instead of 65 and do the same with Medicare.

We have about halved the debt.

Inflate the rest and we are there. BTW, one problem: Can the US start inflation? It seems the Fed has been doing there best over the last year, but have not been able to prime the engine.

Just some thoughts....

PP