| Where we are headed - From the GAO; The Interest on the Debt will consumed US | |
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| Tweet Topic Started: Feb 10 2010, 05:40 PM (243 Views) | |
| Baldo | Feb 10 2010, 05:40 PM Post #1 |
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This is not my opinion but the published work of the United States Government. It is by the Government Accounting Office(GAO). It was completed in the first quarter of 2009 before Obama blew out the budget. The Government Accountability Office (GAO) is the audit, evaluation, and investigative arm of the United States Congress. It is located in the legislative branch of the United States government. The Citizen's Guide to the 2008 Financial report of the United States of Amercia http://www.gao.gov/financial/citizensguide2008.pdf ![]() Now if you want to study a conservative viewpoint of this. State of the Union Finances - A Citizen's Guide http://www.pgpf.org/resources/PGPF_CitizensGuide_2009.pdf What can we do as Citicens • Register to vote. • Become informed about the key issues facing our country and society. • Demand that Washington policymakers begin to address these issues, and that candidates for federal office disclose their proposed solutions. • Rethink our priorities. We should focus on critical societal needs, and on programs and policies that work and create a better future. In addition, we should not assign responsibilities to the government that we are not willing to pay for in taxes. • Recognize that there are no easy answers. Economic growth is essential, but we cannot grow our way out of problems caused when programs are scheduled to grow faster than the economy. • Build a consensus in favor of constructive and responsible change by building and sharing awareness of the fiscal challenge, the need for timely action and the cost of inaction. • Hold elected officials accountable for acting on large, known, and growing key challenges and delivering on their promises. • Join with other citizens to broaden public knowledge about our fiscal challenges and support civic groups that are working to address them. AS INDIVIDUALS • Establish a personal budget and stick to it. • Formulate a financial plan that considers the following questions: • What are my short- and long-term personal financial objectives? • What major milestones do I need to prepare for (e.g., education, family, retirement)? • When do I see myself retiring? Have I considered that for each year I delay my retirement, I can substantially increase my retirement income for the rest of my life? • Put that personal financial plan into immediate action. • Become more responsible in decisions to spend and use credit, save for the future and invest savings wisely. • Teach children the importance of planning, saving, budgeting, investing, and making responsible use of credit. • Invest wisely not just in different types of real and financial assets, but also in my family’s knowledge and education. Edited by Baldo, Feb 10 2010, 05:40 PM.
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| kbp | Feb 10 2010, 07:04 PM Post #2 |
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You have to read up to even begin to follow that chart. The revenue line shows a drop through 2015+/- and follows with no increase the next 65 years. I am unable to tell if there is any allowance made for inflation, which increases the projected costs I'd assume, but at the same time decreases interest on the present debt. I suppose it's a wash, one trade off for the other. Anyway, the number of times a dollar turns over each year is a factor in the growth of the GDP and revenue (even if you hold it at 18%). It doesn't hold such a steady pace, like that shown. No problem-solving good news to share, but the chart is only a guestimate. I'll point out that the majority of the deficit is attributed to what they call "Social INSURANCE". That "insurance" is going to be taxed soon, there is no way out of it unless they just deny benefits for those above a certain income. |
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| Mason | Feb 10 2010, 07:43 PM Post #3 |
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Parts unknown
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When you break down the numbers it really gets scary. When you say a billion to the average American, I fear they have no clue. We hear $10 Billion for this new Government program and it's yawn, ho-hum, okay. Like the owner of the resort in Dirty Dancing - I feel it all slipping away. . |
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