Quote:
Originally Posted by Perfectlap
The source of our $14 Trillion debt is NOT from govt workers or politician pay checks.
Quite the contrary it is from govt payments to PRIVATE citizens in the form of Medicare and more in Social Security checks than the recipients payed in before retirement. Toss in a few off-budget unfunded wars, F-35 Joint Strike Fighter costing upwards of $12 billion, F/A Hornets costing $2 billion, air craft carrier replacement nearing $3 billion, Predator and Reapers drones costing $2 billion all totaling over a trillion and half dollars in military and counter-terror.
We used to be able to offset those entitlement and defense costs from manufacturing but over the last decade we gave that away so that Wal-Mart could stock its shelves with cheap flat panel TVs, Ipads, yo gaba gaba t-shirts, comforters, shoes and other communist made products.
But the easy thing to do is to blame Congress and govt while WE are the ones who elected the very "pro-business" govts that set into motion the outsourcing of our economy (for NOTHING) and deregulation of the banks who wasted no time in ruining our vitally important credit flow.
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Defense spending, which accounted for almost 1/4 of the entire US budget last year, 60% of discretionary spending, and was 7-8 times more than the entire rest of the world spent put together, is a huge issue. I spent 24 years in the service only to see it become an unsustainable drain on our country.
And you are correct, bank deregulation is probably our biggest problem at this point, along with the amount of corporate money and influence in politics.
It's very sad.
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