CBO Chief: The nation’s fiscal path is “unsustainable,”

Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Sun Apr 11, 2010 8:35 am

I can`t really say anything about that type of health account, not ever having one, but just because its gone & taking your word for that you get that money, its not a tax. Then if there is a tax on non-necessary medical devices who cares if they aren`t necessary. The bottom line that I see here is that everyone turns this problem into something that happened a little over a year ago, seems to be a lot of memory loss. If I remember correctly both sides had a fairly similar need for H.C. platform while running, so I can only assume that its another thing that would have just been ignored if the election were to have had different results.
For the Afgan war problem, I think that if Pakistan hadn`t gotten involved we would have pulled out, but with them having a nuke it changes the game. Its now a damned if you do & damned if you don`t thing. I don`t know what type of contracts were put in place with Iraq contractors but the problem now is we don`t have the military resources to fight a war without them. Believe it or not IMO our military is in dire straights, totally stretched to the limit.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: mikeandgerry On: Sun Apr 11, 2010 3:21 pm

samhill wrote:Dan, I certainly don`t agree with everything B.O. has done but I never did with any Pres., he was handed a mess, I don`t know if he stopped a depression or merely slowed us down but something had to be done. Like cokehead said theres no use in arguing who did what, in my mind they are just about one & the same. What has to be done now is fiscal responsibility in all forms of Gov. from Fed. on down to municipal & I don`t see that coming, like they say you can`t teach an old dog new tricks & for the most part what we have is a bunch of flee infested old mutts that all believe they have a pedigree.


samhill:

Were the actions of GWB prudent in stopping the banking meltdown?

Please define for us "fiscal responsibility".

What fiscally responsible actions would you take as president or as a congressman?

Thanks.
mikeandgerry
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Sun Apr 11, 2010 3:48 pm

Don`t know if they were prudent or not, apprently not since they needed-wanted more but I wouldn`t give without any provision for repayment. Don`t spend what you don`t have, what most households should be doing.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: mikeandgerry On: Sun Apr 11, 2010 7:54 pm

I think the banks had to be shored up. I think it is the government's role to do that. That there should have been better oversight is unquestionable. However, banking remains a franchise of the federal and state governments for the benefit of the people.

I agree that deficit spending is unconscionable for the most part.

So, the only way to be fiscally responsible in government is to make sure that the long term outlays don't exceed the long term inflows.

But that leaves us the matter of taxation. How much is enough? The household analogy doesn't work here. What does government really need to do?
mikeandgerry
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Sun Apr 11, 2010 8:20 pm

I don`t believe that there is a quick fix, it will get worse before it gets better. They have to make cuts where ever they can & even for small amounts, pulling in a lot of our troops from around the globe, reducing NATO spending, letting Iraq fend for itself a lot sooner, so we can stop paying the contractors for fixing other countries, reducing welfare payments, put a tax on lobbying that in itself would be a big one & rescind any & all recent pay raises to all Gov. employees. Tighten the borders & ship out any illegals found. Thats just for starters they will always need to spend but spend for our needs rather than that of others.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: jpete On: Sun Apr 11, 2010 8:22 pm

samhill wrote:I can`t really say anything about that type of health account, not ever having one, but just because its gone & taking your word for that you get that money, its not a tax. .

It is a tax. Because money put into a flexible medical spending account is pre tax. That means they just raised my taxable gross income by $5000. And I don't make any more money, but I'll be paying more tax.
jpete
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Sun Apr 11, 2010 8:37 pm

If that $5,ooo goes toward whatever new Ins. planyou choose wouldn`t once again not be taxed, don`t know just asking, it would be something to investigate. I do recall my wife having some type of a health account rider that she had but at the end of the year if she didn`t use it all she lost what was left.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: jpete On: Sun Apr 11, 2010 10:33 pm

samhill wrote:If that $5,ooo goes toward whatever new Ins. planyou choose wouldn`t once again not be taxed, don`t know just asking, it would be something to investigate. I do recall my wife having some type of a health account rider that she had but at the end of the year if she didn`t use it all she lost what was left.

That $5000 doesn't go to any other health insurance. Sounds like what your wife had was an FSA.

Those are the Federal rules. If you don't use it you lose it. I always made sure I used it. I used it to get my eyes lasered and my wife will be using it this year to for re-constructive jaw surgery.

Thanks to Obamacare, that might not be possible for people anymore.
jpete
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: smokeyCityTeacher On: Mon Apr 12, 2010 8:28 pm

jpete wrote:It's not about who did what or who did the most damage. It's about how the current guy is going to fix the mess.

Isn't that the job he was hired to do? I haven't seen him do anything except repeat the mistakes of the last administration.



again and again we ask..... where is the change ?
smokeyCityTeacher
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: smokeyCityTeacher On: Mon Apr 12, 2010 8:32 pm

samhill wrote:I don`t believe that there is a quick fix, it will get worse before it gets better. They have to make cuts where ever they can & even for small amounts, pulling in a lot of our troops from around the globe, reducing NATO spending, letting Iraq fend for itself a lot sooner, so we can stop paying the contractors for fixing other countries, reducing welfare payments, put a tax on lobbying that in itself would be a big one & rescind any & all recent pay raises to all Gov. employees. Tighten the borders & ship out any illegals found. Thats just for starters they will always need to spend but spend for our needs rather than that of others.


Samhill gets it right on illegals - however Sam you need to change that terminology

1) You are not allowed to mention Islam or Jihad
2) Illegal aliens must now be called "unregistered democrats"
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Mon Apr 12, 2010 8:35 pm

If they are all unregistered what difference would it make? And if they were democrats why didn`t the republicans get rid of them when they had the chance?
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: gerard On: Mon Apr 12, 2010 8:51 pm

samhill wrote:I`ll put my 2 cents in for you Lisa since I`ve been labeled a Lib anyway, don`t know where everyone else has been but I have a news flash. The country has been deficit spending for many decades, it did not just happen.


There's nothing INHERENTLY wrong with deficit spending. It's the PERCENT of deficit spending over GDP that's the problem. Many people have debt (mortgage etc) and they function fine as long as the income keeps coming in AND they don't owe too much in relation to their income. The problem we are NOW in is the debt is going up at a faster pace than the income and GDP. The ONLY way out (and they will do this), is raise interest rates, keep printing money (selling T bills and bonds), and devalue our currency (also known as inflation) so they can pay the debt off with "cheaper" money. We are going back to the Jimmy Carter era of high interest rates and stagflation. And the fact that some of you think "this time will be different" actually boggles my mind..............
gerard
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Mon Apr 12, 2010 9:16 pm

And who followed Carter, it goes on & on, its a double headed coin, heads they win. Wake up, both sides could have done things differently but choose not to.
samhill
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: jpete On: Mon Apr 12, 2010 10:09 pm

gerard wrote:
samhill wrote:I`ll put my 2 cents in for you Lisa since I`ve been labeled a Lib anyway, don`t know where everyone else has been but I have a news flash. The country has been deficit spending for many decades, it did not just happen.


There's nothing INHERENTLY wrong with deficit spending. It's the PERCENT of deficit spending over GDP that's the problem. Many people have debt (mortgage etc) and they function fine as long as the income keeps coming in AND they don't owe too much in relation to their income. The problem we are NOW in is the debt is going up at a faster pace than the income and GDP. The ONLY way out (and they will do this), is raise interest rates, keep printing money (selling T bills and bonds), and devalue our currency (also known as inflation) so they can pay the debt off with "cheaper" money. We are going back to the Jimmy Carter era of high interest rates and stagflation. And the fact that some of you think "this time will be different" actually boggles my mind..............


To further your mortgage analogy, would it be OK if you bought a house on a 100 year mortgage and contractually obligated your unborn children to pay it off?

That's what we are talking about here.

And even if it IS OK to saddle your own children with debt before they are born, it is IMMORAL to do it to mine.
jpete
 
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Re: CBO Chief: The nation’s fiscal path is “unsustainable,”

PostBy: samhill On: Tue Apr 13, 2010 6:42 am

Whys that Jeff, are your unborn children any better than my unborn children? Just joking.
samhill
 
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