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A Fiscal ‘Tsunami’

The government's top watchdog warns of a coming catastrophe.

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  • Posted By: whaleback1 @ 04/12/2008 3:04:59 AM

    The problem with the US is, every time we talk about health care and education, people immediately change the subject, and begin to talk about defense, tax breaks of the big companies, social injustice, people out of work, poor single mothers, etc. etc. I think that is because our education is so bad. Most people have lost the ability to reason. Is it a wonder why we've been discussing health care and education for as long as I know (30 years), and they are only getting worse everyday?

    Here is something to think about. Even we abolish all the defense, the saving will not be enough to finance our medicare, because the expense of the latter would just grow even bigger, like a well-fed monster. Before we talk about allocation of the tax dollars, we need to talk about cost containment. Mr. Walker is correct. Our current medicare basically issues blank checks. And no amount of money will be enough to cover the blank checks.

    I agree with EVERYTHING Mr. Walker said. (By the way, he is a good speaker. A lot of fun to listen to.) Medicare premium must be based on risk factor - these are insurance programs. Not social welfare. People have the incentive to avoid auto accidents because they will raise their permium. Illness should raise premium too so people will have incenvtive to avoid illness. I know. No one wants to be sick. But how many people think about diebetis, heart disease when they eat pizza, steaks, chips and sit as cough potato?

    I believe in government managed health care facilities like the VA for those who do not have the money to pay for private health care, or for those who just need basic care (like me. I have a decent income. But I maintain good health. So I don't need expensive health care. Actually, at 60, I never got sick.) We do not have unlimited resources to pay for expensive procedures, like by-ass surgueries for everyone. If a person is already 65, and is in poor health. Why does he need a bypass sugery anyway? If he can pay for it with his own money, he should by all means get it. But I, as a tax payer, much prefer using that amount to cover basic health care for many younger people. In other words, I believe in rationing, which is what they do in Canada and Europe.

    Americans are so spoiled. When it comes to health care, we believe sky is the limit. We want the best things money can buy. Is it not a wonder why the US healthcare providers has given us the most expensive service in the world? The policians now are talking about high quality, lost cost health care. Give me a break. If Cadillac was cheap, people would not want Cadillac any more!

  • Posted By: claudioscaduto @ 12/04/2007 3:01:14 PM

    i am an american and european..of course we have a big problem in this country and not only on fiscality
    it is really very sad that mr. walker do not recognize that social security and national health care in europe and specially in france has been working for ever and it is still working very well..and the euro is strong and the dollar is weak ..how mr. walker explain those facts. if i were him or anybody out there i just would copy anything ..anywhere that works..and the national heath care in france works very very well..but we americans
    prefer to bomb iraq,,or maybe iran but we would not go down on the street and make a revolution for a better america and to force our politicians to do what we want once and for all

    does mr. walker knows about the front populaire when all the french population made a revolution for a better life......

  • Posted By: saadasim @ 11/27/2007 11:59:19 PM

    Hey someone has to pay for an imperial war to benfit oil companoes, war profiteers and Israel.

  • Posted By: Blondewino @ 11/26/2007 8:56:34 AM

    Mr. Walker should have been screaming by now. Employed since 1998 and just now reporting trouble? And he seems to want to add more cost by blood testing all Americans....geez. His last comment allows the reckless spending by the government since it would have not effect to rein in ALL of the costs. I am just a plebian who understands that we have a lot of poeple out of work (builders, realtors, bankers) and at the local level we are not collecting enough taxes (except for the rich and their "rehab" economy), foreclosures are bringing down local economies (mayors in fiscal dilemmas)...it is just beginning. We have to have fiscal restraints and we will still be able to provide access to medical care for our citizens. It is possible, but it is back to 'guns or butter' economy. I think the majority of the American people want us out of Iraq...yeah, the surge is working, but the Iraqi government isn't. Leave. Drop the guns and concentrate on my butter! And I thought the GAO was supposed to stop the waste.

    Get your head on even straighter, Mr. Walker. Some watch dog you are! Finally found your bark??

    JB

  • Posted By: Kaelinda @ 11/16/2007 6:47:57 PM

    Walker can predict doom til he's blue in the face, but it won't stop Bush from fighting his vengeful war in Iraq and it won't stop Congress from stuffing all the budget bills with their own particular brand of pork. It won't make voters stop voting for the candidates who promise more by taking less. And Americans won't stop clamoring for their bread and circuses.

    • Posted By: votenic @ 11/21/2007 4:23:39 PM

      2008 Presidential Election
      http://www.votenic.com
      The Only Poll That Matters
      Results Posted Tuesday Evening

  • Posted By: votenic @ 11/21/2007 4:23:22 PM

    2008 Presidential Election
    http://www.votenic.com
    The Only Poll That Matters
    Results Posted Tuesday Evening

  • Posted By: sayitnow @ 11/14/2007 4:23:20 PM

    Where is all the Social security dollars taken from every working person paycheck and matched by the employer. Remember; they (the goverment) set this up as a trust fund.
    There is a decution of 17% of the total amount of your security check deducted each month for medicare.
    Where is this money?
    Now let us examine money was supposed used for this war.
    No one responsible for accounting for the TRILLIONS of dollars spend seem to be able to answer Where were the dollars spent?
    Who received the dollars spent?
    What did the dollars spent buy?
    When did billions of contracts go to best contributors?
    Why are billions of dollars being paid for contracts that were never started to be fulfilled.
    Look to the people in our goverment who are acting like children with a unlimited charge card in toys R us.
    Working people are spending three months or more of their working life each year just to pay taxes to the federal goverment. The social security is being deducted form paychecks all year.
    This is the few Americans that still have jobs here in the U. S.
    How is our goverment doing? How many of them are honoring the oat the took to protect America and the constitution with their right hand raised and the other on the bible?
    Remember; you the American citizen hired them. Yes you did, when you cast that vote with their name on the ballot. Has you e-mailed, faxed, telephoned, wrote a letter, expressing your thoughts, if not why not? they are acting in your name and your future and spending your hard earned money. Your silence is your consent.. Where is the TRILLIONS of dollars? certainly not in our health care, not in our educational system, not used for any veterns care,
    not used to insure that our foods. medicine, toys, ets are safe, WHERE is the money going?
    vflaz@msn.com

    • Posted By: Moving Americas Freight @ 11/17/2007 12:07:25 PM

      This is the first comment I've read that gets to the core of the problems. The Americian public needs to remember the politicians are elected. we the people govern them. Write, call, fax your reps in Washington about your feelings and what they are doing. Remember when you vote what they didn't do and vote them out. Most all of the politicians in office now are Career Politicians, our forfathers did not see these positions being in Wash DC as a career, they met twice per year to discuss problems and vote. All they do now is see how much pork they can bring home. i.e. dollars for bridge to nowhere, pres lib for GA?, look at what some have taxed the public with their spending, lining their pockets with kickbacks from lobbiests to get what they want. the little guy (americian worker) trying to make a living and support his/her family gets raped daily by these politicos. Do your homework see what your politicians are doing for the country. The consititution states the govenment is responsible to provide for the protection of the US not medicial, welfare, roads, bridges, etc. etc etc.

      As a good Voting americian look at the politicians at what they will do for the COUNTRY not what they can give you. That to me is a major part of the problem. Voters don't look at the individual as to what he/she has done for the good of the country overall. We have politicians that are bigger criminals then those in prison now. Why is an 80 plus man in congress and not retired.? Why is there not term limits on these people like we have on the President? I think it is time they all have a reality check and get a real job not be on the Gov't tit for the $$$$$. They vote an increase in their salary and raise our taxes Does this make sense to you??? not me. I work for a living support my family, retired from the USAF after 20 years. and see this great country being run into the ground by the Burger King society "I WANT IT MY WAY" If you don't like it here go live in a third world country I have and didn't like it.

  • Posted By: malone @ 11/14/2007 7:27:04 PM

    I thought that "taking money from one person and giving it to another" was what capitalism was all about. And do you really think that you have an "absolute right" to keep "100%" of your money? If it's true--- and it certainly is--- that taxes are the price we pay for civilization, then this is an argument for barbarism. No schools, no highways, no national defense.... I guess we'll all disperse in the woods and live off grubs. But at least no federales will be messing with our millions!

    • Posted By: markyannone @ 11/15/2007 3:46:36 AM

      Capitalism involves the voluntary exchange of value, like money for goods and services. Taking (theft) is a crime. If people value schools, then schools will be available at a price that suits them. Likewise for highways, national defense, and everything else you value. Money will be exchanged for those goods and services voluntarily, just like your food, clothing, and shelter are today.

      • Posted By: Saltydog_0 @ 11/15/2007 6:25:56 PM

        Mark, you're point of view makes perfect sense. . .in fairy tale land. Absolute freedom from taxation works perfectly if we all are fiscally responsible, can foresee every eventuality (and purchase the correct insurance to cover it) and are willing to turn our backs (and point our guns) at anyone foolish enough or unfortunate enough to find themselves in a predicament where they can't afford vital goods or services. Ron Paul and those like him are willfully ignorant of human nature. You can't just close your eyes, grit your teeth and hope that everyone in society will act according to plan. If government doesn't assume the role of watchdog and caretaker of the masses, it will be a situation of everybody for themselves. By definition, that is barbarism. And don't tell me how society will willingly contribute to those in desperate situations. . .again I would say wake up and open your eyes to human nature. We are a selfish, self-centered species. Those in need WILL take by force. Those that have WILL defend by force. We're back to everyone for themselves. Barbarism. Ron Paul is a pollyanna, wishful thinker. Thank god the majority of society instinctively knows better than to believe in his fairy tales of how thigs would work without government enforcement.

        • Posted By: Tom Lundy @ 11/15/2007 7:33:10 PM

          Ron Paul "and those like him" understand human nature much better than you seam to. People always act in their own self interest. Like it or not that is life. Arguing otherwise is what got us in this mess.. But the major point is this...Instead of using the word government use the words politicians and bureaucrats, which is what government really is, and see if it still makes sense hiring politicians and bureaucrats to be the watchdog and caretaker of the masses. Politicians and bureaucrats couldn't even be the watchdog caretakers for one lousy city, New Orleans. Did you forget what a fine job the politicians and bureaucrats did there?

          • Posted By: OrmondOtvos @ 11/17/2007 2:23:58 AM

            People do not always act in their real self interest. Various evolved psychological mechanisms both cripple their perceptions, and make people susceptible to non-cooperators, or cheaters (Republicans).

  • Posted By: lovo del norte @ 11/16/2007 5:46:54 PM

    for those dicussing about Ron Paul's proposals, please do not get confuse. he has never said that he is againts any taxation, he has said that there is a need for less taxes as well as less government. please pay attention to what your favorite candidates are promising. remember!, it is in us to choose the best for our future. and for that only one person that mentioned the illegals, let me tell you: please get your facts straight, do some research before you attack them. Don't let any monkey tell you what to say... thank you!

  • Posted By: lovo del norte @ 11/16/2007 5:40:13 PM

    Enter Your Comment

  • Posted By: lovo del norte @ 11/16/2007 5:40:06 PM

    Enter Your Comment

  • Posted By: Tom Lundy @ 11/15/2007 7:19:07 PM

    Fat chance it's the baby boomers, it's the same corrupt politicians that have brought you all the other disasters. There is only one presidential candidate that is addressing this issue and that is Ron Paul. Ron Paul has been sounding this same warning for 20 plus years and now that this tsunami is upon us people are starting to listen. Bring our troops home from all 130 countries, including Iraq and save trillions, not billions, trillions. Let???s get our financial house in order by electing Ron Paul.
    Please visit www.RonPaul2008.com.

    • Posted By: lovo del norte @ 11/16/2007 2:35:21 PM

      I absolutely agree, vote for Ron Paul...

  • Posted By: Bill Fell @ 11/15/2007 7:22:49 PM

    Where is mention of the real solution? That is, a progressive tax on the rich, say 91%, who gained their riches because of the whole USA, Give us negotiation with the drug companies. Get rid of the middlemen in the insurance rackets. Universal health coverage. Nowhere is mention made of the time line these huge money numbers come from. All in all, if we acted like a true nation there would be no problem, but this unfettered capitalism will drag most of the nation to the garbage dump.

  • Posted By: ishmael @ 11/16/2007 11:37:46 AM

    To "arbucle" I'd suggest you make that "I murdered him" rather than he was killed - take some responsibility, even as you gloat in the taking of a human life. And, by the way, it is not his "illegality" that had him breaking into your home, it's because he's a criminal. His immigation status is incidental. The habit of taking every crime committed by an "illegal" and pretending citizens and "non-illegals" are not committing the exact same crime at the same or even higher rate is just retarded. Are you an 'illegal" driver when you go over the speed limit? By the way, 20 years ago, I too was "illegal" - today, I'm a citizen and harvard-trained corporate lawyer paying more in taxes than probably 99% of the "pure-breds" who are "legal" to support your appointed President and congressmen in their wasteful spending. You're welcome.

    • Posted By: lovo del norte @ 11/16/2007 2:31:58 PM

      Ishmael, you are the man! All i can say is that the end of days are coming...

  • Posted By: markyannone @ 11/14/2007 6:58:30 PM

    While the rest of you are tinkering with my money, I will remind you that I have been part of a large group of Americans who have been sounding this alarm for decades. This is not a new event. It started the day Americans like you decided that it was perfectly OK to take money from one person and give it to another. You want to know which presidential candidate will solve this? Ask them all one question: "How much of my money do I have an absolute right to keep?" Only one candidate will say 100 percent. His name is Ron Paul. (The others will say zero percent.)

    • Posted By: leodelaney @ 11/14/2007 8:18:31 PM

      markannone I assume that if you have it your way you will promise not to use the roads, the fire department, the police, emergency services, the airways, the trains, the products of government sponsered scientific and medical research, visit public buildings and so many other things that come from your taxes. You must promise to sit around your house with Ron Paul and think about how great it is to live in the Stone Age where what you have is yours and no one else can ever touch it.

      And one last thing; right now you probably live somewhere nice and eat well. People in the poor cities don't get enough to eat, are sick, many homeless and the only thing that brings any comfort to their lives is the money the get from the government and which is provided by your taxes. In your world you would have this taken from them so they have nothing at all. What do you think thay are going to do? I'll tell you. They're going to come out of their cities in their millions and they are going to come and take your stuff and kill you and you will die saying, "But this can't be right. Its mine." The greatest security you and your kind have is the small amount the government gives the helpless keeps them from complete dispair and keeps what's in the cities in the cities and not in your back yard. You should rejoice in the security you have for you can lose it in an instant. And Ron Paul and his neolithic yearnings will take you there.

      • Posted By: markyannone @ 11/15/2007 3:38:27 AM

        Why should I deprive myself of the opportunity to buy any product or service on the market? Don't fall for the idea that if government doesn't steal from you then you can't buy a product or service. Whatever has value will be provided at the price that clears the market. That includes national defense, fire protection, roads, onions, shoes, education, cars, planes, milk, medical care, DVDs, and garlic soup. As for charity, Americans are free to be as charitable as they like--with their own money--not someone else's.

        • Posted By: angelus1967 @ 11/16/2007 1:00:28 PM

          So, you really believe that Ron Paul would try to institute a completely free market governemtn where anything could be bought and sold. Not only would he not try to do that, it is delusional to think something like that would work. There has never been a successful society that did not have taxes; free market military, fire dept. and roads? That would make no sense at all.
          It's people like you who give all conservatives a bad name. Unfettered capitalism is just as dangerous as, if not more so than, unfettered communism.

  • Posted By: kenhope @ 11/16/2007 12:50:20 PM

    How could America not see this coming? In eight years we have went from a surpluse to a "Fiscal Tsunami." This should not be a shock. Look at the current policies we have in place.

    Ishmael - Thank God someone is still living the American Dream. I live in Michigan and the middle class is all but disappearing.

  • Posted By: deansmith1010 @ 11/14/2007 7:26:54 PM

    I didn't see a word about illegal immigration. Living in California, and seeing 100 hospitals close their emergency room doors due to lack of reimbursement from illegals, its easier to see how close the end really is. Twenty Million Illiterates can sink us faster than you might think.

    • Posted By: leodelaney @ 11/14/2007 8:06:47 PM

      Can't let this pass. I worked with farmers and companies all of whom employed illegals. And all of them took withholding taxes from ALL of their employees, legal and illegal. Illegals do pay taxes the difference being that, even though there is a way for them to get a refund because the government recognizes this fact, they never apply. No farmer or factory owner is in the least afraid of the INS, just a bunch of goons who don't give you any trouble as long as they have someone small to bash in the head, but none of them want to get afoul of the IRS, a different kettle of fish altogether. So they take and remit the taxes. Additionally every time an illegal buys something he or she pays taxes on that item, so don't go around saying that it is the "free" services the illegals are getting that causes emergency rooms to close. It is the incredible cost of running an ER in a system with rampant litigation, and its not the illegals that sue, incredibly expensive testing, out of control overheads and operational costs, and a completely chaotic, disorganized and "them as has, gets" system of government payments to the hospital that causes these emergency rooms to close.


      However unpleasent it is for those who love beating up on the small and defenseless and find illegals the perfect target, illegals pay taxes and theoretically the services they need should be largely reimbursed by those taxes, but the system works against them, particularly in California. Get rid of them and it won't make one iota of difference as to whether a given emergency room closes. But it will make a box of strawberries cost $15.00 and a pair of undershorts $25.00, but if that's what you want for the pleasure of beating on the helpless, so be it.

      • Posted By: Saltydog_0 @ 11/15/2007 5:59:19 PM

        Well put Leo. It is a fact acknowledged even by illegal bashing conservatives that illegals actually contribute MORE money to the economy than they take out; ESPECIALLY in social security. Illegals are, in fact, paying for your retirement. You'll need to come up with some other justification for your hatred of illegal aliens deansmith. Fiscally, you're in their debt.

        • Posted By: arbucle @ 11/15/2007 11:23:55 PM

          I guess i should thank illeagls for crashing into my car with no insurance twice making me claim on my insurance and making me pay three times the amount in insurance here in houston,also having to shoot an illegal breaking into my home.By theway he was killed and that did make me have to clean my carpet but i felt alot better about things.

          • Posted By: ishmael @ 11/16/2007 11:43:11 AM

            To "arbucle" I'd suggest you make that "I murdered him" rather than he was killed - take some responsibility, even as you gloat in the taking of a human life. And, by the way, it is not his "illegality" that had him breaking into your home, it's because he's a criminal. His immigation status is incidental. The habit of taking every crime committed by an "illegal" and pretending citizens and "non-illegals" are not committing the exact same crime at the same or even higher rate is just retarded. Are you an 'illegal" driver when you go over the speed limit? By the way, 20 years ago, I too was "illegal" - today, I'm a citizen and harvard-trained corporate lawyer paying more in taxes than probably 99% of the "pure-breds" who are "legal" to support your appointed President and congressmen in their wasteful spending. You're welcome.

  • Posted By: Aliceinwonderlandzz @ 11/14/2007 9:13:30 PM

    Welcome to the shocking realization that the United States of America and all its descendents have been raped by corrupt officials bent on enriching themselves and their supporters. Congratulations Republicans especially - you've swallowed the line for eight years that you can spend without consequence. Thanks to all of you, Republicans will be remembered in Chinese History classes as the group most responsible for turning the United States into a third world country. Our children on the other hand will be scraping through derelict Ford and GM factories for scrap metal.

    Truly the bovine apathy of our own fat rears in allowing ourselves to be led by the nose by predators like Bush, Cheney and the Congress is what is to blame. My one concilation is the irony of the thought of narrow minded Republican zealots watching their grandchildren struggle to learn Chinese in the hope of getting a menial middle management position for whoever takes our place.

    • Posted By: t9900 @ 11/16/2007 10:18:36 AM

      Are you retarded or have you been brainwashed to hate Republicans?

  • Posted By: Bill Fell @ 11/15/2007 7:25:31 PM

    Put caps on capitalism, very high progressive income taxes, negotiate price with drug companies, universal health coverage, and act like a nation instead of 300,000,000 greedy individuals.

  • Posted By: leodelaney @ 11/14/2007 7:50:53 PM

    Seems to me that "decline and fall" is an apt description of the path the United States has started on in the last several years and it is a path we have untertaken of our own free will. We are a society tthat has the largest and most expensive military establishement the world has ever known, and which is growing in its cost and lessening in its capability every day. We engage in wars and war threats all over the globe in order to give this military something to do, yet we are unwilling to pay the cost of it by an increase in our taxes. We have doubled our national debt in just six years and are now running 100% of our wars in Iraq and Afghanistan on borrowed money. Everytime the President asks, and the Congress meekly grants, some huge funds to "support the troops" we have to go out and find that money because we have no reserves of our own to pay for the war. And we are borrowing hundreds of billions of dollars to fight (and lose by the way) Bush's self-indulgent little wars from countries like China, Saudi Arabia and Mexico, (bet that's a surprise.) all nations we belittle in our crass Western superiority, yet on whom we are dependent to keep our military machine from being an even greater disaster than it has been in the last two wars. No nation, large or small, has ever been able to survive its economic failures, usually self-inflicted, caused by rampant and out of control military expenditures and an unwillingness on the part of its citizens to pay the cost of them in the form of additional taxes. No nation can continue to pile up debt for the purpose of military adventurism and without any security for that debt. As a result of the Bush Administrations inept and inneffective economic policies as well as the greatest spending frenzy in our History we stand at the point where we may soon join the list of "used to be great" nations and will end up beholden for our existance to China, Saudi Arabia and Mexico. Such irony.

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