Thread: This is shocking

http://www.wimp.com/budgetcuts

It really puts into persepctive the trouble we are in with this unmanageable debt.

Matt

WOW thanks for sharing that.
I've been avoiding the news lately because it's always so depressing.

What I got from that video is that the US Gov. needs to increase everyone's taxes by a quarter of a penny. Problem solved!

No, seriously, the world economy looks grim. Spain, Portugal, Greece - all downgraded credit ratings. And despite what Moody's say, I believe the UK should be set to follow if the credit ratings agency has any balls at all. And at some stage after that, the US too, unless they can do something serious to reduce their debt.

I predict rocky times ahead.

James.

Rocky? I don't think that begins to describe it. I could have retired a while ago, but didn't. I think now, that my retirement accounts will tank coupled with the fact that my government has squandered my 45 years of Social Security payments to the "more needy" will assure me of having to work until I die. It's probably the way things should work in the grand plan, but it's also not the way I planned things. I had hoped to take some time off to just play, but likely can't now.

...another joyfully happy camper,,,

Jimbo,

We have mentors, moderators, super moderators, and devlopers and probably others I've missed. So just what does an advisor do?

Given my unique qualifications and willingness to share and counsel, when you are in conference with your fellow executives, please tell them of my ability and willingness to fill yet another niche: grouser.

What one does well, one must do.

I believe the fantasy of retirement was short lived and is now more or less over, wide spread further education will follow shortly. The reverse will happen in China, I suspect.

Seems to me the actual problem stems from having too many people who need visuals to understand the meaning of simple numbers.

mhailey, now that you're shocked, have you got any plans for your personal contribution to decreasing that part to the right of the blue line?

Or may be you have an updated video that's not one year old. I seem to remember there was some voting for death panels. If that's not gonna cut the big pile on the left of the white line I don't know what else will.

Originally Posted by gugi

Seems to me the actual problem stems from having too many people who need visuals to understand the meaning of simple numbers.

mhailey, now that you're shocked, have you got any plans for your personal contribution to decreasing that part to the right of the blue line?

Or may be you have an updated video that's not one year old. I seem to remember there was some voting for death panels. If that's not gonna cut the big pile on the left of the white line I don't know what else will.

No, the problem is that me, my children, and my grandchildren, are going to have to deal with these "simple numbers" for the remainder of time. There is no governmental will to take the hard yet necessary actions, ie. cutting social security/medicare, and raise taxes with the sole purpose of paying off the debt (and having this tax sunset once the debt is paid). My plan is to vote against any incumbent that as been for big government and wasteful spending (that is all of the incumbents for which I can vote).

The only problem with the video being a year old is that it does not accurately portray the amount of debt to the right of the blue line, as our government has as continued to spend like a drunken sailor.

Originally Posted by Jimbo

What I got from that video is that the US Gov. needs to increase everyone's taxes by a quarter of a penny. Problem solved!

No, seriously, the world economy looks grim. Spain, Portugal, Greece - all downgraded credit ratings. And despite what Moody's say, I believe the UK should be set to follow if the credit ratings agency has any balls at all. And at some stage after that, the US too, unless they can do something serious to reduce their debt.

I predict rocky times ahead.

James.

Agreed. If the current situation which appears to be on a one way path isn't fuel for those arguing for a one world currency, I can't imagine what is. Fate? Yeah right.

Chris L

Thanks for the video. Scary.