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Discussion in 'Random Ramblings' started by hemet dennis, Aug 27, 2013.
When they have spent every last dollar that WE have. They won't be happy until then.
It is sort of like me paying to have my lawn cut(not that I do) by two different guys on the same day.. What would be the sense? But of course we are talking the government here.......
You have to understand that government encourages waste and incompetence. In the budget process, it is use it or lose it. In other words, If an agency has excess money at the end of the fiscal year 1) they have to turn it in and 2) you will get less money the following year...Agencies are compelled to spend every dime they have regardless if they need it...
17 trillion dollar debt and climbing...It can never be paid off or even paid down. Mandatory spending (medicare, Social Security, and interest on the debt) is 2.9 trillion a year (and rising) and government revenue is 3 trillion a year (this varies a little but not much). That leaves 100 billion +/- to run the government on. For every 1% rise in interest rate (average the ten year treasury) the debt payment annually increases by 170 billion (on 17 trillion dollar debt). It won't take but a 3% rise (5.5%) in the ten year treasury rate to explode the debt. That is what people just don't understand...Currently, the U.S. pays somewhere around 200 billion a year in interest..3% rise and you are looking at close to 700 billion a year. It doesn't matter what spending you cut / tax you increase, the debt is on the books. Come late 2015 the debt will be pushing 20 trillion. Do the math...The higher the debt, the less rise in rates is needed for the debt payments to explode...
That is one reason I plan to expatriate after my wife retires in a couple of years. There are tons of places I have been investigating where the cost of living is cheap, the medical facilities are top rate, and they welcome retiree's..Cultural and language barriers are difficult to overcome so it is something you have to get prepared for.
I have a friend that Expatriated to Chile in 2005 (8 years ago). He bought a house with what would be considered million dollar views in the U.S. overlooking the sea (high above any tsunami height) for 170K. His health insurance cost $300 a month for him and his wife (which here would be considered Cadillac coverage) , taxes are basically VAT / user...no income / property tax...He said anyone can easily survive there on a 1K monthly income. A 2K income and you can live like a king. Gas is a little more expensive but not much more.He emailed me the other day and said the country recently increased its minimum wage to 200.000 pesos ($400.00 U.S. dollars) but that didn't affect his 3 day a week maid service that comes in, does the laundry, cleans the house, etc..for 100 dollars a month. Utilities and internet / cable TV run him about 75 dollars a month and they have all the U.S. channels...
He said it was the smartest thing he has ever done. He had some difficulty adapting at first..but now he is living life to the fullest..
Write the Congress Critters that create the programs (doesn't happen in a vacuum):
Actual history of the internecine machinations in Congress: http://thehill.com/blogs/on-the-mon...ators-outmaneuver-enemies-of-catfish-program-
Corporate America run the government, not congress. Writing and voting is a waste of time. Poll after poll demonstrates congress's approval rating is in the toilet. If congress was listening to the people, where would its approval rating be?