$53 Trillion Dollar Asteroid (...or another take on overspending)

@theprogamer (10534)
United States
March 27, 2008 5:07pm CST
Well everyone its been awhile since I started a discussion like this. Might be 120%, don't really know, its been awhile. Today's post was due to something I read pertaining to the 2019/2042 Healthcare and Social Security concern. Equated the spending concerns in those programs with an asteroid ("world-ending" of course). http://www.cnn.com/2008/US/03/26/beck.deficit/index.html?iref=hpmostpop Long story short even the US treasury secretary Henry Paulson is saying that all of the promised benefits and all of the spending will cost quite a lot. That once the limit is reached, federal funds would have to be used toward these two programs only to cover the growing cost. Or it can be looked at this way... Price tag: $53 trillion by estimates (compared to $3 trillion in Federal budget and $14-15 trillion GDP...). Translated another way, each US household would have over $400,000 in debt. That get your attention yet? I don't believe the elected officials will solve this anytime soon and given the 20-30 year head start, that just makes it even worse... No matter who promises what I'll be having a lot of skepticism. I completely agree that the financial deficit and debt are outmatched by the deficit in trust for U.S. leaders. The worst part is, both problems (and several others) spell downfall for the country. There's the economic downturn along with this. Perhaps it'll be short, but it could also be a rather long lasting downturn. I'd really hate to see the scenario... but it's quite possible.
4 people like this
4 responses
@Destiny007 (5805)
• United States
27 Mar 08
When you take information like this and you add to it the planned estimated bill for the prevention of nonexistent man made global warming, the proposed Global Anti Poverty Bill, intended mandatory universal health, the L.O.S.T. Treaty, and all of the other things.... and this adds up to some real money. However, when total economic meltdown has been achieved... when we have finally broken our economy beyond the point of possible repair... then we will discover the the true purpose of the Federal Reserve as it comes to save us from our own stupidity. I wonder which country will have the most invested in America at that time?
4 people like this
@theprogamer (10534)
• United States
27 Mar 08
"When you take information like this and you add to it the planned estimated bill for the prevention of nonexistent man made global warming, the proposed Global Anti Poverty Bill, intended mandatory universal health, the L.O.S.T. Treaty, and all of the other things.... and this adds up to some real money." Well I mentioned the general meltdown but did forget some of the specifics. Thanks for the refresher Destiny. There were also floating plans by lawmakers and a few state governments to increase taxes and spending too. Plus there were general ideas to increase all taxes for various reasons (current admin policy, "just because", and so forth) "I wonder which country will have the most invested in America at that time?" I'm wondering the same. People will probably not like the answer... I'm convinced we'll see quite an ugly picture when all of the dust settles.
3 people like this
@gewcew23 (8007)
• United States
28 Mar 08
The big probelm is that the candidates are all wanting to increase spending. Obama wants to increase annual spending by 287 billion. Clinton wants to increase annual spending by 212 billion. Even McCain would increase annual spending by 7 billion. Why do these candidates think we need more spending. What we need is less spending. Why do we need the Department of Labor, Commerce, Transportation, Human and Health, Housing and Urban Development, or Agriculture. Before anyone says that all we need to do is get out of Iraq, the Federal government went into debt last year without Iraq.
2 people like this
@theprogamer (10534)
• United States
29 Mar 08
While some of the programs you mentioned have their flaws, their general purposes are good when not perverted, education for example if done right could put kids/teens back on track, transportation could solve growing transportation problems. The problem is that the spending is high and the return on investment isn't great. The programs are also incredibly bloated, like an unworking, amorphous behemoth. The candidates spending plans... I'd say those are generous (just an opinion). Typically the numbers usually need 10-20% tacked on, and not all of the spending plans are out in the open (what'll really happen in office).
3 people like this
@gewcew23 (8007)
• United States
29 Mar 08
So true yet so scary
1 person likes this
@Feona1962 (7526)
• United States
29 Mar 08
Thank you for bringing this discussion to my attention..It all just sounds outrageous and a bit scary to think about...I think our country is in big trouble...
2 people like this
@theprogamer (10534)
• United States
7 Jun 08
You are welcome for it Feona.
@AD11RGUY (1265)
• United States
29 Mar 08
Yet another sad refresher on the state-of-the-union. I dunno anymore, Gamer. The few of us that do pay attention to these numbers understand what they mean to the future of our nation - well what's left of it. Since I learned of the NWO and that even our beloved Jimmy Carter was a member, I have had a hard time figuring out how anyone responsible enough to turn America around (i.e. Perot, Paul, etc) would ever be allowed into office. Kinda makes me think deeper about the Kennedy assassination. There is too much greed and power that wants to, and is doing whatever it takes, to make this a one government world. The biggest obstacle to that goal for the longest time was the strength of America and its people. So job #1 had to be to find a way to permanently unroot America's individual AND world strengths. I sincerely believe that the presidents are chosen behind closed doors and that the election process is a matter of motion to provide the illusion that our votes shape the nation. If you look deeply into all the pres's. since Nixon, they all seem to have some sort of relation with the NWO. Favorable relations. This tells me that only those who will support its growth will ever be allowed to win a primary, let alone an election. The party labels mean nothing at this level. "Either you're with us...or you're against us" is the motto. And those against seemingly always fall out of the race early, no matter the support they have from "we, the people." So, yes, the numbers are frightening, but given the general education of the American population, the easy-to-program-into-overspending mindset that is more concerned with the amount of bling they can flash, and a society the poo-poos saving, let alone intelligent personal investments, it is all to easy for NWO to achieve their goal with us doing most of the work for them. Unless there is an all out revolt, I don't see ANY future elected officials doing anything to reverse this trend - it won't line their personal pockets. As to who will own us next...well I'm gonna start ordering my fortune cookies in Mandarin.
2 people like this