CAPITAL SOURCES

A Fiscal ‘Tsunami’

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

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

    Comment: 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

    Comment: 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

    Comment: 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

    Comment: 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: votenic @ 11/21/2007 4:23:22 PM

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

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

    Comment: 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

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

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

    Comment: 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

    Comment: Enter Your Comment

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

    Comment: Enter Your Comment

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

    Comment: 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: ishmael @ 11/16/2007 11:37:46 AM

    Comment: 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

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

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

    Comment: 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: Bill Fell @ 11/15/2007 7:22:49 PM

    Comment: 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: lovo del norte @ 11/16/2007 2:33:28 PM

      Comment: in due time!

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

    Comment: 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

      Comment: I absolutely agree, vote for Ron Paul...

  • Posted By: Cannoneer2 @ 11/15/2007 6:38:43 PM

    Comment: Woohoo!!! The same bunch of Baby Boomers that are so enamored with 1968 brought us this mess. It has always been "me, me, me!!!" with this bunch, and will be all the way to the grave, designer caskets and all. The succeeding generations, mine included, will be left to clean up the mess.

  • Posted By: peterkcarew @ 11/15/2007 5:47:34 PM

    Comment: you're absolutely correct- we dont have any leadership. our fall will come sooner than most predict
    i would say our country has about 5 years to get our acts together. but i dont see it happening- our country is divided, and a house divided can not stand. If the human race wasnt so greedy and corrupt i would say we could do it. but i think we have a long way to evolve. I wish it was our fate could have a different outcome.

    Peter

  • Posted By: Saltydog_0 @ 11/15/2007 4:48:44 PM

    Comment: "Well, you could decide not to renew the Bush tax cuts, you could eliminate all foreign aid, eliminate all earmarks, eliminate NASA, eliminate the National Endowment for Humanities and eliminate the entire Defense Department tomorrow, and you still wouldn't solve the problem."

    wow. WOW. Are you kidding me?! How did we ever become so irresponsible?!! If debtor's prison were still a reality our legislators would all have life sentences. However, I can't just point the finger at the government. They simply reflect the mindset of our citizen's. We all think we're so special that we're entitled to anything we want, screw the consequences. This is why you don't give a teenager a credit card. They're just too self-centered to act responsibly. It's time for us all to grow up.

    Great interview! But damn depressing. I have zero faith in our ability to act responsibly.

  • Posted By: Ronpen @ 11/15/2007 12:59:44 PM

    Comment: The last paragraph of this article says a great deal about why we are having this fiscal tsunami. Our government has involved itself in areas outside of its constitutional responsibilities. This great nation for some reason has abandoned its basic social and philosophical principals. We no longer look for individuals to take care of themselves. We think government should supply basic services, not simply safety nets. We don't look to the individual to develop his talents to achieve his dreams; we look for outside support in the form of government aid packages. This is where it all starts. Once government gets involved special interest groups get involved and the tyranny of the minority begins to wield more and more power. The United States over the last seventy years has strayed into a socialist mind set. In the end this is not compatable with individual rights and the accepting of individual resposibilities.

  • Posted By: mpham @ 11/15/2007 11:36:19 AM

    Comment: "Americans are free to be as charitable as they like--with their own money--not someone else's."
    Posted By: markyannone @ 11/15/2007 3:38:27 AM
    ----
    The problem is there's no such thing as "own money" if you know what money is. It's a abstract idea, printed on a paper and nows a day can be created electronically by pressing Enter. It's essentially an function o aggregate belief of all market participants.


    Please read this (written 2200 years ago)

    1. Sun Tzu said: In the operations of war,
    where there are in the field a thousand swift chariots,
    as many heavy chariots, and a hundred thousand
    mail-clad soldiers, with provisions enough to carry them
    a thousand li, the expenditure at home and at the front,
    including entertainment of guests, small items such as
    glue and paint, and sums spent on chariots and armor,
    will reach the total of a thousand ounces of silver per day.
    Such is the cost of raising an army of 100,000 men.

    2. When you engage in actual fighting, if victory
    is long in coming, then men's weapons will grow dull and
    their ardor will be damped. If you lay siege to a town,
    you will exhaust your strength.
    3. Again, if the campaign is protracted, the resources
    of the State will not be equal to the strain.

    4. Now, when your weapons are dulled, your ardor damped,
    your strength exhausted and your treasure spent,
    other chieftains will spring up to take advantage
    of your extremity. Then no man, however wise,
    will be able to avert the consequences that must ensue.

    5. Thus, though we have heard of stupid haste in war,
    cleverness has never been seen associated with long delays.

    6. There is no instance of a country having benefited
    from prolonged warfare.

  • Posted By: Shawn H. @ 11/15/2007 6:34:08 AM

    Comment: I'm wondering if we as a nation can turn things around at this point. Will apathetic Americans suddenly take an interest in their own government and the spending of their own money (taxes)? I'm doubtful. I don't see any dramatic change or American renaissance coming in the foreseeable future. I see Americans continuing to be more concerned with Brittany Spears' rehab or the football scores to worry about substantial government reform. We are too self-indulgent, self-centered, and self-involved. I've heard the only time real change occurs, both individually and culturally, is when things get so bad that it affects daily life substantially. That may not happen for a while. When it does, it means things have sunk very low indeed. Perhaps change will begin when the majority of people have to scrounge for food or live in shanty towns.

  • Posted By: jdl51 @ 11/15/2007 1:12:37 AM

    Comment: The chickens have come home to roost. Republicans since Reagan have been peddling the line of BS that you can cut taxes and spend like drunken sailors and it will all work out in the end. They have been raping the american people for the past 27 years with this line and then giving literally trilliions away in corporate welfare. Check out how much is spent on farm subsidies, oil tax breaks, no bid government contracts for everything from storm cleanup to serving food to the military. Most of the money spent on the military are just corporate giveaways. I am for a strong military, but the way it's run now is just totally idiotic with no standardization among the services, gold plated hardware, and waste on an unprecedented scale. The problem isn't the paltry few billion spent on social spending, although some of that is a waste, too. The problem is that the politicians are enriching their friends and supporters by the trillion. And this falacy that the budget deficit is shrinking is another crock. The debt ceiling was just increased another 850 billion. All of the Iraq, Afghanistan and Katrina spending and who knows what else, is off budget. It isn't included in the budget figures even though it's added to the debt. It's all a pack of lies. The debt has increased 3.5 trillion and counting since our commander in thief took office. That's an average of half a trilliion a year, so this talk of the deficit down to 180 billion or whatever it is they're claiming, doesn't include the 200 billion for Iraq this year. And the republicans have the balls to call democrats fiscally irresponsible. The last time we had a budget surplus wasn't with a republican administration and it never will be. What they've done and are doing is nothing less than criminal.

  • Posted By: 1Google1 @ 11/14/2007 9:45:34 PM

    Comment: What I don???t understand is how the general population is not outraged by how irresponsible this government has been. This is the first president in the history of the US to lower taxes in a time of war even though both conflicts are expected to cost $3.5trn between 2003 and 2017 ??? a burden of $46,400 for an average American family. We have prescription drug plan the U.S. government has spent $32 billion in 2006, and is expected to accumulate to $797 billion by 2015. This is a drug plan where the US government is not authorized to negotiate lower prices on the purchase of drugs from the pharmaceutical industry and no way to pay for. What are the elected representatives doing to protect the interest of the general population and the livelihood of our children???s future? I fear David Walker is correct on his assessment of the financial outlook of this country. Every year there appears to be some foolish financial blunder that the representatives of this country have voted on and no one is taking any action on the future burden of debt that we owe.

  • Posted By: 1Google1 @ 11/14/2007 9:45:10 PM

    Comment: What I don???t understand is how the general population is not outraged by how irresponsible this government has been. This is the first president in the history of the US to lower taxes in a time of war even though both conflicts are expected to cost $3.5trn between 2003 and 2017 ??? a burden of $46,400 for an average American family. We have prescription drug plan the U.S. government has spent $32 billion in 2006, and is expected to accumulate to $797 billion by 2015. This is a drug plan where the US government is not authorized to negotiate lower prices on the purchase of drugs from the pharmaceutical industry and no way to pay for. What are the elected representatives doing to protect the interest of the general population and the livelihood of our children???s future? I fear David Walker is correct on his assessment of the financial outlook of this country. Every year there appears to be some foolish financial blunder that the representatives of this country have voted on and no one is taking any action on the future burden of debt that we owe.

  • Posted By: Aliceinwonderlandzz @ 11/14/2007 9:13:47 PM

    Comment: 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 conciliation 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: Aliceinwonderlandzz @ 11/14/2007 9:13:30 PM

    Comment: 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

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

  • Posted By: dusher @ 11/14/2007 8:13:54 PM

    Comment: I find it astonishing that anyone in Congress is even considering providing free health care, when we are already hitting the wall with medicare and social security. The complete avoidance of tangible, positive solutions in favor of "free health care for children of single mothers (SCHIP) by politicians is equally horrifying. Robert Rector recently pointed out that 75% of poverty would go away if mothers simply married the fathers of their children. And, we are spending in excess of $100b annually on various other social and criminal disasters that fall out of the marriage-absence problem. Since we know that the more we spend entitling social problems, such as divorce and illegitimacy (which are also at the root of our lack of retirement savings), the more of these problems we will get. We must get off our national addiction entitling marital irresponsibility, and complete the two point of reform that were supposed to be handled in the 1996 welfare reforms -- to reduce illegitimacy and improve marriage rates and retention. A two-fold approach, weaning away from entitling social problems, while applying much smaller sums to fund simple programs that encourage and reward marital responsibility, and help a responsible spouse get a troubled one into treatment for problems such as drug and alcohol abuse, will bring about tremendous decreases in social entitlement "needs", increases in savings, decreases in costs for criminal interdiction, troubled children, and schools serving an "in loco parentis" role. David R. Usher, Senior Policy Analyst, True Equality Network, St. Louis, MO.

    • Posted By: pgeorge @ 11/15/2007 5:57:44 PM

      Comment: No one is talking about providing "free" health care. Health care would still be paid for. It's just that it would come, fairly, out of taxes which everyone with an income would pay rather than payments to a for-profit system. Given that health care now can cost up to $1,000 per month, per individual, for private insurance - not counting co-pays and deductibles - there is almost no national health system that wouldn't cost less and provide better coverage. The way the system stands, many people can't afford insurance and become a burden to the state anyway, so why not have it honest and up front and say that we, as citizens, believe that taking care of each other is a virtue, as they do in Europe? Otherwise, you are basically saying that some people just deserve to die because they haven't been healthy or lucky enough to not get sick/be able to afford huge amounts for insurance. I, for one, would rather live in a society that cared for all its members, even if it didn't have the "best" for the lucky few. Also, maybe it sounds good on paper to say that premiums should be raised for those with unhealthy habits, but that gets us back where we started. My mother smoked. I do not. But would I want her dying in a gutter, further "punished" for her smoking, because she developed emphysema and couldn't afford higher premiums? And we all know thin people who eat twice as much as fat people, but just lucked out on their genes... It's a complicated issue, but let's keep in mind that we are talking about our own friends and relatives, not some abstraction of people who aren't worthy of being given medical care.

  • Posted By: agape truth @ 11/14/2007 8:03:32 PM

    Comment: I enjoyed reading and agree in concept that we are in deep doo-doo. In a free economy that is run by greed with no or little regulation, has put us in this quagmire. I was taught that taxes were ment to share the wealth for the good of the nation. To bring up the living standards of the whole. That includes health insurance. Now that the wealthy have been allowed to become wealthier on the backs of the middle class and poor why should they care about national health care? This next election will determine if this is a nation with concern for all or just another two bit greedy common weath run by the rich.

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

    Comment: 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.

    • Posted By: Saltydog_0 @ 11/15/2007 6:45:16 PM

      Comment: Amen leo

  • Posted By: scubadiver4u @ 11/14/2007 7:49:51 PM

    Comment: The only presidential candidate who has a handle on this impending catastrophe is Ron Paul. Ron Paul has been warning us about this coming crisis for years, but very few people listened. I'll bet they're listening now.

  • Posted By: jdhouse @ 11/14/2007 7:35:29 PM

    Comment: We keep hearing about this 'lowest personal savings rate' and in the next breath we hear that the figures don't include tax sheltered savings. What does this mean? That our 'tax sheltered savings' don't count because they don't really belong to us? What is the government trying to pull here?

    You know that when the time comes to transfer our retirement savings to the people who didn't save a dime and are depending on SS for their retirement and the money isn't there those of us who acted responsibly and saved for our own retirement will get the shaft. We will hear lots of liberal populist rhetoric about the greater good being served. Will we get a warning so we can start jumping off the bridge or will we just wake up one morning and our savings will be confiscated? More likely between inflation and taxation our savings will be siphoned away so slowly we don't notice until they are gone.

  • Posted By: malone336 @ 11/14/2007 7:28:12 PM

    Comment: 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: malone @ 11/14/2007 7:27:04 PM

    Comment: 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

      Comment: 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

        Comment: 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

          Comment: 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

            Comment: 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: deansmith1010 @ 11/14/2007 7:26:54 PM

    Comment: 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

      Comment: 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

        Comment: 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

          Comment: 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

            Comment: 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: michem @ 11/14/2007 7:25:21 PM

    Comment: I have intense anxiety about the debt the war in Iraq has bought us, and the 50 years it will take to pay off! It is grossly irresponsible to demand 800 billion for this senseless war, then cut taxes for the rich!

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

    Comment: 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

      Comment: 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

        Comment: 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

          Comment: 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: thomwilbur @ 11/14/2007 6:56:05 PM

    Comment: I have to wonder how the comptroller general of the United States does not know how social security works. He states that the social security fund surplus will start to decline in 2009 and will have a negative cash flow in 2017. This is only true if you ignore the millions owed in interest on this imaginary trust fund. The actual negative cash flow date is about 2027. He is clearly trying to stir action now because our politicians in Washington are guilty of massive fraud and theft leaving no trust fund. The current value of that theft is over 2 trillion dollars and climbing.

  • Posted By: docktorb@aol.com @ 11/14/2007 6:26:48 PM

    Comment: Everyone saw what happened to W Bush when he tried to deal with these issues. It will be a long time before anyone will risk that again. And yes, he did bring us the Medicare prescription drug plan to ameliorate the situation that socialist politicians were proposing. It's a real nightmare, but unfortunately one from which we can't awaken. Big biily's comment presumes that only the self employed pay 15% when in fact we all do. The "employer's contribution" is a scam to deceive people about how much they are paying. It is the total compensation that is paid for an employee"s hour of service that an employer looks at when setting a salary. The employer basically is required to lie to the employees salary and secreyly send in the extra hidden 7.5% tax to the government. If you work an hour, the 7.5% is paid. If you don't, it's not. Who earned that 7.5%?

    • Posted By: bigBillyS @ 11/14/2007 10:16:03 PM

      Comment: I'm not professing to be an expert on this topic but I am curious because this particular issue means alot to me and SS cap is going to keep coming up in the debates so I really want to understand it. So...question - If I own a 2 person company and I'm the sole owner and your my employee and I made salary of $80k and you as my employee were paid $40K to be my office manager. Isn't it true that I paid 15% of 80K and my employee paid 7.5% on their 40K salary. Let's say this is an operation with hardly any overhead (home-based). Isn't it true that out of my roughly $120 gross revenue (which allows me to pay $80k for me the owner and $40k for you my employee) that I paid 7.5% of the 40K out of my money to match the 7.5% of the employee? Was your point that because I matched the 7.5% of my employee that if I didn't have to do that I could have paid them that much more? I could see that point but then there seems to be a fair market value to the work people do. For instance, if the local market bears $50.00 an hour for a particular job or skillset, how could one be lying to the employee? If the employee was offered $47.00 an hour so the employer could secretly send the $3.00 to the government, then the employee would go else where. Yet the employer is paying 15% of their own salary no matter what. I want to understand your point am I on the right track to understanding yours?

  • Posted By: US Worker @ 11/14/2007 6:11:59 PM

    Comment: It's amazing how none of the candidatess have the guts to raise this issue with the urgency it deserves. And then they have the cheek to talk about how their so called 'leadership' will benifit the U.S. Its a pretty sad state of affairs as far as the leadership of our nation is concerned.

  • Posted By: bigBillyS @ 11/14/2007 5:51:58 PM

    Comment: I think letting the people that have salaries over 90K pay social security is a fair, just, part of a solution. However, we must remember that there are very many small businesses under 10 employees that this will hurt. Business owners pay the 7.5 percent on their salary but in effect, since they own the business the business pays the matching 7.5 percent (which really means the business owner pays 15% SS). Many small biz owners try to keep their salary under 90K for this reason. Small biz is an important driver in the economy and there should be some kind of exemption for them since they are really getting doubly taxed.

  • Posted By: mortonson @ 11/14/2007 5:48:58 PM

    Comment: I think this is a truly exceptional article, and fits every piece of data I have seen. Unfortunately I do not believe that our government is capable of addressing the issue. And I do not believe that the American people of today have the sense of duty to the country to support the tough changes that are required. We have run away from every responsibility since the Korean War. This is not the greatest generation. Our grandchildren will simply have to pay the price as the US becomes the next France.

  • Posted By: mortonson @ 11/14/2007 5:46:13 PM

    Comment: This is a really outstanding article. I do not think that our government is capable of stepping up to the task. And I do not think that there is a sufficient sense of duty in the country to support the required changes. Bottom line, I think the only way something will happen is when the crisis hits. Unfortunately it will be our children and grandchildren who will have to sit by watching the US become the next France.

  • Posted By: Libertarian @ 11/14/2007 5:42:57 PM

    Comment: In making cuts the author completely left out the Department of Human services, the department of education and the agriculture department among others. These are just a few. As far as means testing Social Security goes why would any middle class worker save a dime if they knew that they would be punished with benefit cuts on the back end. Finally, why are American workers put at the end of the line on a bankruptcy deal. I don???t hear anybody talking about cutting the return on Chinese investment money.

  • Posted By: Libertarian @ 11/14/2007 5:41:01 PM

    Comment: In making cuts the author completely left out the Department of Human services, the department of education and the agriculture department among others. These are just a few. As far as means testing Social Security goes why would any middle class worker save a dime if they knew that they would be punished with benefit cuts on the back end.

  • Posted By: rowen @ 11/14/2007 5:10:29 PM

    Comment: It is easy for politicians to talk about reducing the benefits of Social Security and of Medicare. The are in the wealthy class and will never need it for the retirement years to survive.

  • Posted By: WRB123 @ 11/14/2007 4:53:07 PM

    Comment: I would like to hear a discussion of our National debt and how it relates to our National net worth. As individuals our net worth is the important number, not our individual debt. Secondly, when individual debt is discussed on a national level, is consideration given to the offsets provided by our retirement plans, such as 401.k's or 403.b's?

  • Posted By: Inquirer @ 11/14/2007 4:38:16 PM

    Comment: Congress is the one out of control by consistantly raiding the SS fund along with the administrations for what ever they deem.
    How much SS dollars does the US Governent owe to the SS fund?
    dsilva@copper.net

    And why doesn't congress change it back to a trust fund that is not touchable for starters.
    Also since congress is the body that is at fault their pensions should also be rolled back and repeal the law that allows them to receive the same medical coverage that they receive now that is certainly much better than medicare.
    And now Nancy Pelosi and Clinton want to give SS to the illegal aliens.

  • Posted By: erikpatito @ 11/14/2007 4:37:57 PM

    Comment: you think President Bush is going to make all his rich cronies be taxed? i don't think so. That's why he ran for President. To line his pockets with the regular person out here. His and his cronies, brothers, etc. He was never in it to help the people. It's all about the money. Greed, that's what it's called. The more they have, the more they want. They just act like they're trying to help people. I truly believe he is the anti-christ. Always smiling and acting all religious. Yeah. But his day will come. Everyone has to pay for what they leave this world. That's just the way it is. May God help him. He's going to pay for all the injustice, he and his so called Vice President. We all know who really runs everything @ the whitehouse. He's just for show. Just a puppet that Cheyney plays with and uses.

  • Posted By: Peeved_one @ 11/14/2007 4:36:07 PM

    Comment: Mr. Walker makes a lot of great points. But please don't call this a "bipartisan" problem. It is the republican party that wants to relentless cut taxes as a way to get votes and as tool to cut services.
    Secondly, I wish someone would please explain how we came to cap the social secury taxes at a middle class salary of about $90K and exempt. How can we burden the poor and middle class far more than wealthy people? It is just perverted.
    Thirdly, testing people for their lifestyle is absolutely absurd; How many cheeseburgers would we be allowed to have for a certain premium? The idea of insurance is to spread risk, not isolate it. The government can educate people in far more productive ways.

  • Posted By: WRB123 @ 11/14/2007 4:30:53 PM

    Comment: I would like to hear a discussion of our National debt in terms of our National net worth. As individuals, our net worth is the meaningful figure, not just how much we owe. Secondly, are individual retirement plans (401.k; 403.b; etc) accounted for when we hear discussions of individual debt? wrb

    • Posted By: jdhouse @ 11/14/2007 7:42:58 PM

      Comment: I've heard politicians excuse their financial shenanigans by saying we should look at all our highways and bridges and other infrastructure as offsetting those obligations . What I didn't hear was where the money was going to come from to maintain all that infrastructure with increasingly inflated dollars now that whole populations have grown dependent on them.

  • Posted By: Bubbadafuhl @ 11/14/2007 4:26:17 PM

    Comment: Hey, I know...instead of just releasing the crack dealers from federal prison, let's let everyone (murderers, rapists, gangbangers, terrorists, etc.) out. I'm sure we would save tons of money by not feeding and housing them.

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

    Comment: 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

      Comment: 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: libertyinmo @ 11/14/2007 4:22:27 PM

    Comment: We should end our empire abroad, take the savings and buy annuities for all those who are dependent on SS and let young people completely out. It is an unconstitutional program to begin with and never should have been started. Medicare and Medicaid have caused the health care crisis in this country. Health care is the only area where technology has not caused a decrease in prices. This is due to government subsidization and regulation. Let's get back to the basics and obey the constitution. Let's elect officials that don't promise to rip off the taxpayers to give us a benefit. Let's elect the only man running for president that has a clue about the pending disaster. Vote for Ron Paul. http://www.ronpaul2008.com

  • Posted By: rojo242 @ 11/14/2007 4:18:09 PM

    Comment: I"ve often wondered how and why we got ourselves invovled in Iraq to clean up
    what we've had to...policing the world at a cost of what $billions monthly...and then be told by a gov't that Social Security isn't so secure after all.....seems to me
    that we should just come up with billions out of the clear blue...like this Iraq mess has caused us and dump the same amount toward social security..why not?
    We really think the terrorists are abroad when in essence the gov't will be creating the same when Soc Sec. payments are due...shame on the gov't for thinking those on Soc Security are too feeble to fight for what they've had taken for years!

  • Posted By: Notafinwizard @ 11/14/2007 3:59:38 PM

    Comment: if you remove the entire ceiling on both medicare and social security on income for individuals you would remove the problems of a shortage of Social Security and Medicare. The problem lies that the people of influence have more to lose. Therefore it will never happen. They will say that business will suffer. One would only have to leave those control in place. Anyway how does an individual paying individual taxes effect the product cost anyway it really shouldn't.

    Lastly, if you think about the CEOs that walk way with serverance packages in the millions would close that gap quickly. The inequality of life hardship.

  • Posted By: Kenm719 @ 11/14/2007 3:55:11 PM

    Comment: David Walker for President. None of the current candidates are worth voting for

  • Posted By: kultavader @ 11/14/2007 3:49:27 PM

    Comment: There is a relatively simple "fix" for social security and medicare. Remove the cap on the amount of income that is subject to S.S. and medicare contribution. Then cap the maximum benefit per recipient. Let the "fat cat" CEO's pay the 7+ percent on all of their multi-million dollar salaries.

    • Posted By: bigBillyS @ 11/14/2007 6:03:58 PM

      Comment: I think letting the people that have salaries over 90K pay social security is a fair, just, part of a solution. However, we must remember that there are very many small businesses under 10 employees that this will hurt. Business owners pay the 7.5 percent on their salary but in effect, since they own the business the business pays the matching 7.5 percent (which really means the business owner pays 15% SS). Many small biz owners try to keep their salary under 90K for this reason. Small biz is an important driver in the economy and there should be some kind of exemption for them since they are really getting doubly taxed.

  • Posted By: 126sultana @ 11/14/2007 3:38:35 PM

    Comment: this is something that ought to make every voter in this country shutter in his boots. It just reinforces how irresponsible our elected officials are and what they they will do to the people of this country for politics

  • Posted By: sboss1960 @ 11/14/2007 2:59:43 PM

    Comment: This should be required reading for everyone in this country. National "financial security" should not involve outsourcing the holding of our country's debt to financial institutions in China. This is exactly what we are doing. How stupid is that?

  • Posted By: sboss1960 @ 11/14/2007 2:56:02 PM

    Comment: This should be required reading for everyone in this country! National "fiscal security" does not involve spending and having the Chinese hold our debt. How stupid is that?

 
 
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