[mcmick]

David M. Walker recently gave up his position as Comptroller General of the United States and overseer of the Government Accountability Office (GAO).

He did this to start and carry out (has since done so) for months, his “fiscal wake-up tour.”

Mr. Walker has almost been begging congress (both parties) to take serious action against the $53 trillion dollar long-term debt, congress has already committed us to.

Medicare, Medicaid, and Social Security’s present obligations will now give us this number without very, very serious revisions.

Mr. Walker’s full GAO report says we are endangering our future security and that in the absence of the necessary revisions a combination of seriously reduced benefits and seriously increased taxes will be necessary and that the nation cannot possibly sustain the present course.

Neither candidate is addressing this in the manner it deserves to be addressed.

If McCain is elected and follows up on freezing all but the most vital programs, it would be the most important domestic move in years. Of course, he would have to have the power to do so. Using the veto might get him close.

If Obama is elected, his promised savings could not come remotely close to his promised spending. Believing it could come close, is simply looking the other way.

It’s ironic, how much today’s young people, will pay for today’s profligate spending, by both parties, due to idealism and demagoguery.

"Any man who is under 30, and is not a liberal, has no heart; and any man who is over 30 and is not a conservative, has no brains."

-Winston Churchill

[Manuel]

I dunno. We were doing fine under Clinton.

I think the problem is more with the two stupid wars, and runaway military spending wouldn't you agree?

[tallpaul]

I think the problem is more with the two stupid wars, and runaway military spending wouldn't you agree?

We really have failed our children miserably. We're not teaching them math or critical thinking. It seems we're not even teaching them to read things before commenting on them.

Two "stupid wars" and runaway military spending add up to $53 trillion?

[Manuel]

Well Iraq alone was $2 trillion. The bailout is another trillion. Increased military spending outside of Iraq is another trillion. The tax cut amounted to about half a trillion. ...

[tallpaul]

Well Iraq alone was $2 trillion. The bailout is another trillion. Increased military spending outside of Iraq is another trillion. The tax cut amounted to about half a trillion. ...

So, you have accounted for 3.5 trillion of the 53 trillion, or almost 7%. Care to see who you can blame the other $49.5 trillion on?

You might want to start by carefully reading the OP.

[Manuel]

Sure. I fail to see where the OP got his numbers from. In another thread I quoted two economists that a universal healthcare plan would save $1.1 trillion over ten years compared to the current plan, and that the Obama plan would actually save $320 billion.

If the government is producing a surplus it is impossible for its overall debt to raise. Eight years ago, it was producing a surplus. Today it isn't. I blame the reasons I already stated: runaway military spending and two stupid wars.

[tallpaul]

Sure. I fail to see where the OP got his numbers from.

If you don't like the OP's figures, then go find and cite some you like better.

In another thread I quoted two economists that a universal healthcare plan would save $1.1 trillion over ten years compared to the current plan, and that the Obama plan would actually save $320 billion. Roll eyes

This totals a whopping 2.6% of the 53 billion. Congratulations! Go get yourself a cookie.

If the government is producing a surplus it is impossible for its overall debt to raise.

Very good! But, that doesn't pay off the $53 trillion debt. You do know the difference between deficit and debt, don't you?

Eight years ago, it was producing a surplus. Today it isn't. I blame the reasons I already stated: runaway military spending and two stupid wars.

Yes, I got that the first time. What you don't get is that those things are a small fraction of the $53 trillion debt.

[Manuel]

So Mr. Tallpaul.

Where does this $53 trillion come from?

Don't give me generics. You demand specifics, I can too. What individual programs make up this $53 trillion? Where's the source? Link? A report? Anything?

[Dave]

Implicit liabilities. Namely, the unfunded liabilities in Social Security and Medicare.

[Manuel]

And why will electing Obama make this worse than electing McCain? What is McCain's plan for reducing this debt?

Cutting taxes? Even if you don't start any new programs, I think taxes would still have to be raised if anyone's serious about putting adent into this.

[Dave]

Not to legitimize the OP, but if McCain is elected there will be a divided government, which is historically correlated with lower spending growth. This would only defer the problem, not solve it.

[tallpaul]

So Mr. Tallpaul.

Where does this $53 trillion come from?

Don't give me generics. You demand specifics, I can too. What individual programs make up this $53 trillion? Where's the source? Link? A report? Anything?

Manuel, the OP made the claim, I did not. However, where it comes from is stated in the OP, as I recall. That is why I suggested in an earlier post that you read it carefully.

[Manuel]

There is no source to the report, nor any indications of where within Medecaid, Social Security and Medicare the primary defeciencies are coming from.

[tallpaul]

There is no source to the report, nor any indications of where within Medecaid, Social Security and Medicare the primary defeciencies are coming from.

And that makes it false?

If you don't like it, then please complain to the OP.

Or do some research, and find out where the deficiencies come from.

[Manuel]

Burden of proof is ont he one making the statements.

[tallpaul]

Burden of proof is ont he one making the statements.

The OP made the statements. You made statements, too.

Did you NOT claim that most of the projected debt is due to two wars and military spending? Since the burden of prrof is on the one making the statements, I guess you're going to run along and prove it, right?

I won't hold my breath.

[Capitalist]

There is no source to the report, nor any indications of where within Medecaid, Social Security and Medicare the primary defeciencies are coming from.

Watch this:

[Roland]

How about we just add a decimal point? 5.3 trillion I would believe.