> Erika wrote: > Geezuz. I didnt realize we had all these billions of dollars laying around > .... >
Some quick math for ya below; but remember that I'm a crazy doomsayer and everything will just work out tomorrow because there wasn't any economic crisis yester ... DOH! (1.) Pres Bush, via Paulson, delivered a 3 page plan to spend $700B with no oversight and then couldn't get a 1/3 of his OWN PARTY to pass. Since we're broke, we'll have to borrow that $700B from the Chinese or the Saudis or SOMEONE who's willing to do us a solid so our economy doesn't collapse . . . . . . so we can continue to make payments on what we already owe them feraners. (2.) The national debt is somewheres near $10 trillion and our GDP is roughly $15T. Basically it's like making $90k/year, but owing $60k on your credit cards. Not unrecoverable, but whoa. (3.) The problem is the trends. Each year, the government borrows MORE, rather than less meaning that $60k keeps going up. Again, not catfood-land until you condsider: (4.) Medicare, Medicaid, and SS. Just the first 2 - as the programs are structured today - will cost our entire nat'l budget within 30 years. We need to restructure the programs (i.e., cut benefits) or find some more income. (5.) We'll have a few options: a.) borrow the money if anyone will lend to us, b.) cut spending or raise taxes, c.) print a lot of money, or d.) declare bankruptcy. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Adobe® ColdFusion® 8 software 8 is the most important and dramatic release to date Get the Free Trial http://ad.doubleclick.net/clk;207172674;29440083;f Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:271473 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
