Political Crossfire Forums

Whats keeping the US alive despite our debt is that the rest of the world is still using the Dollar as the medium of exchange. If you look at other countries with similar debt ratios they are floundering because of it. If we keep this up people will turn to China and we will lose that one advantage we have.

So it is true. It was in a book titled "Economics 101" from the early 70s.

This is how health care will be manipulated. Hospitals will sign contracts for sole vendors and then the prices will go up and the contracts are signed. Too late to complain about the prices after that.

IDK if I'm all that nonchalant about our current debt situation and unfunded liabilities and I'm not sure whether I either care or believe if it's been worse before. I don't necessarily believe that we're comparing apples to apples between now and post WWII. It's a different world out there. What I do know is that in the next 10-15 years we have a couple of pretty big potential government financial disasters/hurdles to resolve and we're not going to be able to it without pain. SS is one of them, I do think if we act now the can can be kicked down the road another 2-3 decades with some but not dire consequences. Medicare/Health Care is a whole other issue, especially medicare. There are going to have to be some deep and painful cuts and some equally painful tax increases. Maybe I'm being overly pessimistic but I don't see any happy endings.