We went over the cliff a long, long time ago. Enjoy the free fall.

and promises that cannot be kept.   If you go back and look at San Diego's, situation in '96,  it is a microcosm of what is going on in our Federal government today.  What happened,  it was short on cash. The City had many projects that it wanted to implement,  but there was no room in the budget.  The Republican NationalConvention was coming to town which put even more of a strain on the city's finances.  The City Manager went looking for money and found it, in the San Diego City Retirement Fund,  which was the City's responsibility to the Employees of San Diego.  Like other cities and states San Diego is required to make annual contributions to that pension fund,  that is to fund the current and future funds for city workers.  The City of San Diego wanted to get the projects done so they went to San Diego City Employees Retirement Fund and asked to be allowed to contribute less  (mind you,  this is ALL TAX PAYERS money)  they agreed as long as,  the increased retirement benefit was increased to workers and if the City fell below 82% of what wa need in the fund,  there would be a mandatory balloon payment.   Yup,  you read it right,  with city officials were incredibly stupid or just figured the bull market would continue. Just  in case you still think government officials are smart,  think again,  they (the City Manager and his cronies) came ups with new plan called forthe city to get a break on the amount it was required to contribute to the pension fund and in return the city would give more benefits to its worker.  Needless to say San Diego City Retirement Fund Board was quite concerned so they asked for indemnification concerning any decisions and actions taken by the City.  This did not turn out well.  The losers are the TAX PAYERS aka Capitalists of San Diego as they don't recieve any of the benefits.   Why do I present this little ditty about San Diego?  Well,  of course,  the numbers pale in comparison to the National deficit debt and unfunded liabilities we owe.  Right now the National debt is well over 16 Trillion dollars which is larger than the entire unfunded status of state pensions and healthcare obligations,  which means we are adding trillions of dollars annually to our national deficit every year.  These numbers are small in comparison to what we owe nationally in unfunded liabilities.  

If we don't stop borrowing now,  we will be Greece.

Sorry Snow,  I went off on a tangent and I know I did not answer your question,  but maybe one of the LIbs might be able to understand just a tadbit more of what is going on Nationally.

-- Modified on 11/7/2012 9:29:25 AM

The biggest fucking Talking Point ever. Comparing the United States of America to Greece is like comparing an Elephant to a Gnat. US the largest economy in the world (believe it or not it still is) Greece is not even in the top 100.

Predictions such as yours are modeled based on the current condition continuing as is for the period of the forecast so, when one variable in the forecast, say, unemployment rate falls, forecast becomes null and void. Example, President Clinton inherited a large deficit, presided over the largest economic expansion in peacetime, balanced the budget in his first term, budget surpluses all four years of the second term, left the strongest economy in the history of the free world. Actually paid down the debt.

People like you and you nut job crazies said the same things, i.e., United States will never ever have balanced budget.

You and your wing nuts talk about re-distribution. You want to know who actually redistributed income, George W. Bush and Republicans. They took a surplus, instead of investing it in the country’s future, redistributed the surplus to the rich 1% via tax cuts. The economy was in tail spin ever since. If that’s not enough, started two wars so the rich can profit from the war by killing the poor young people for them to get rich.

Before you respond with talking points like Donald Trump latrine mouth, think just little bit, admit truth even if it is the hardest thing you will ever do then, respond.

Again, you cannot cut 20% across the board income taxes, and balance budget, won’t be even able to pay the interest on $13 trillion.

Here is another economic fact, Republican Congress should have helped pass the infrastructure bill for rebuilding the nations infrastructure, why? The money is very cheap, no sign of inflation. You borrow money when the interest rate is cheap and invest, you economic geniuses.

The answer to you question is, investment in education, infrastructure, economic growth, lower medicare and medicaid expenses through Obama Care, investments in science and technology to thwart environmental issues. You what genius, I personally would rather see the United States of America become
experts in modern technology and let the Chinese make toys and shoes. Yep, I know iPad is made in China but it is designed in Cupertino, CA where high paying jobs are. That’s how!