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Who is to blame if the US defaults on its debt?

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  1. #51

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    Quote Originally Posted by Freetrader:
    I'm not missing the point, I stated that I couldn't answer your question.

    Have a committee allocate best value for money? Sure, maybe.
    You state universal health care should be available. When in fact NICE means that the Universal alternative to private insurance offers 'the bear minimum'.

    Universal health care in most societies does not replace private insurance but supplements it and keeps it 'honest'.

  2. #52

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    This does not seem to be a translation into layman's terms but a politically biased view of the recent silly tactical gamesmanship to make short term political points. The rating agency states mid-term confidence in the ability of the US to reduce public spending and / or raise taxes.
    Last edited by East_coast; 06-08-2011 at 12:58 PM.

  3. #53

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    Quote Originally Posted by East_coast:
    You state universal health care should be available. When in fact NICE means that the Universal alternative to private insurance offers 'the bear minimum'.

    Universal health care in most societies does not replace private insurance but supplements it and keeps it 'honest'.
    I am in complete agreement with you, East Coast. I fact, I believe that is exactly what I stated (in my long-winded manner) up above.

    It's "bare" minimum by the way, unless we are talking about veterinarians.

  4. #54

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    Original Post Deleted
    It would seem they have have agreed to put sticking plaster on what seems to be the initial signs of Necrotizing fasciitis.

    The fact that there are 'loonies' as you call them in congress would seem to be the issue.

    A bunch of loonies on the
    - left (wanting to subsidise the poor so they feel emotionally indebted to them to secure votes)
    and the
    - right (Religion, guns and the over devotion to the Laffer curve solution).
    Last edited by East_coast; 06-08-2011 at 08:35 PM.

  5. #55

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    Quote Originally Posted by East_coast:
    A bunch of loonies on the
    - left (wanting to subsidise the poor so they feel emotionally indebted to them to secure votes)
    and the
    - right (Religion, guns and the over devotion to the Laffer curve solution).
    Mostly correct, except that it is not true that left want to subsidize 'the poor'. They want to subsidize the 'middle class', which is everyone is who is not 'rich'. Social Security and Medicare, which are by far the biggest entitlement problems and the biggest issues facing the US budget. It is essentially bribery - vote for me and I will generously increase these benefits until the end of time.

  6. #56

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    While of course what the government should do is to close down Social Security and Medicare, increase military spending (which is not much! Only 20%-30% of the federal budget) and cut the taxes of the rich! That would teach these spongers (95% of the American citizens who would suffer from these reforms)! After all, the government isn't there to improve the life of the people. It is there to allow the richest to become even richer!

    I can hear you freetrader. I wish everybody else could hear you too! You have such wisdom!!


  7. #57

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    Quote Originally Posted by jacky_se:
    While of course what the government should do is to close down Social Security and Medicare, increase military spending (which is not much! Only 20%-30% of the federal budget) and cut the taxes of the rich! That would teach these spongers (95% of the American citizens who would suffer from these reforms)! After all, the government isn't there to improve the life of the people. It is there to allow the richest to become even richer!

    I can hear you freetrader. I wish everybody else could hear you too! You have such wisdom!!
    I presume your comment is meant to be ironic, but it is simply nonsensical. If you think that the US government doesn't have a long term spending problem related to entitlements, you must be completely ignorant of the facts.

    I'd love to buy my kids pet unicorns, but sadly, they don't exist.

  8. #58

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    One would have to be a complete moron not to realize that spending must be reeled in with Social Security, Medicare and Medicaid because they represent about half the spending in the budget. Obviously the military also needs to be cut to make a serious dent, it doesn't have to be one or the other...


  9. #59

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    Quote Originally Posted by Freetrader:
    I presume your comment is meant to be ironic, but it is simply nonsensical. If you think that the US government doesn't have a long term spending problem related to entitlements, you must be completely ignorant of the facts.

    I'd love to buy my kids pet unicorns, but sadly, they don't exist.
    I do find it hard to reconcile statements like this with the statements you made on the FDH thread about them being "entitled" to stuff in HK.

    In general, it is true, I do believe people should support themselves and have no time for spongers. But the health system in the USA is broken by most objective standards (except the one that says if you are rich you can get the best treatment in the world). As a traveller, I won't visit there without a hugely expensive travel insurance policy, I dread to think how the poor sods who live there all the time cope. A sensible health system that provided a good standard of care for ALL CITIZENS would seem to be a definer of a developed, first world country. If you don't have that, what is the point of being developed? Might as well be China, where you too can get great healthcare if you are rich (just get on a plane).

    I think Obama is doing his best to reform healthcare - not sure if he's right or not but at least he's trying to fix it. Better than the "let's not touch it in case it costs more" camp.

  10. #60

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    Ironic?!?!?! Not at all!!!!

    I am fully aware of the "long term spending problem related to entitlements". They are very obvious! In 2085 a whopping 24.2% of GDP will be "entitlements"! This is inadmissible, since this is 5 times more than what is being used for military spending in 2011!

    So, what to do? 1) Cut these entitlements! 2) Cut these taxes of the rich!

    Last edited by jacky_se; 08-08-2011 at 01:47 PM.

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