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Reply #34

In the discussion thread: Why Libertarianism Doesn't Work [View all]

Response to ProSense (Reply #28)

Sun Jan 1, 2012, 07:12 PM

34. Help me out man, I'm hung over.

So that chart above looks pretty good, I mean it adds up. But what I'm seeing from the article is that the units in the columns are billions of dollars. So the total savings in a decade will equal 1,572 billion, or 1.5 trillion. Right? But then I remember that the national debt is 15 trillion not 1.5 trillion, and I wonder what the interest rates alone on it will be. So I google, and find this:
http://money.cnn.com/2011/02/02/news/economy/interest_national_debt/index.htm
Ending with this line:
"The president has proposed $478 billion in discretionary spending cuts and the Republican Study Committee has proposed $2.5 trillion in savings, but neither proposal would come close to even paying the interest on the debt."

I want to believe that there is a way forward like this, but I'm not seeing it in the numbers. I would love to be wrong here, and if I am, tell me how. Like I said, its my bread and butter, and I'm not looking forward to donning Franciscan monk robes to help the needy, but that's what will be left in any scenario where the government implodes due to debt.

As a side note, I think there are some tax the rich plans that could really stimulate the economy. I envision a policy that taxes stagnant wealth, wealth not working in the economy, but rewards active wealth - money that's tied up in businesses and investments and so forth, money that's circulating and creating wealth. You want to penalize scrooge McDuck with his money bin of non-working capital, but reward anybody who actually is being a job creator.

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ProSense Dec 2011 OP
TheWraith Dec 2011 #1
Poll_Blind Dec 2011 #25
Sarah Ibarruri Dec 2011 #2
Betsy Ross Dec 2011 #7
Sarah Ibarruri Dec 2011 #8
Sarah Ibarruri Dec 2011 #9
hifiguy Jan 2012 #49
Sarah Ibarruri Jan 2012 #50
JDPriestly Dec 2011 #11
Sarah Ibarruri Dec 2011 #12
dawg Dec 2011 #3
Sarah Ibarruri Dec 2011 #10
abelenkpe Dec 2011 #4
ProSense Dec 2011 #14
deacon Jan 2012 #36
onehandle Dec 2011 #5
PowerToThePeople Dec 2011 #6
quaker bill Dec 2011 #13
ProSense Dec 2011 #15
quaker bill Dec 2011 #19
ProSense Dec 2011 #21
freshwest Dec 2011 #17
izquierdista Dec 2011 #16
napoleon_in_rags Dec 2011 #18
ProSense Dec 2011 #20
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ProSense Dec 2011 #23
napoleon_in_rags Dec 2011 #24
ProSense Dec 2011 #26
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ProSense Jan 2012 #28
LineLineLineLineLineLineLineLineLineReply Help me out man, I'm hung over.
napoleon_in_rags Jan 2012 #34
ProSense Jan 2012 #38
napoleon_in_rags Jan 2012 #39
ProSense Jan 2012 #40
napoleon_in_rags Jan 2012 #41
ProSense Jan 2012 #42
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MH1 Jan 2012 #46
napoleon_in_rags Jan 2012 #47
Night Ripper Jan 2012 #29
ProSense Jan 2012 #30
Night Ripper Jan 2012 #31
ProSense Jan 2012 #32
PeaceNikki Jan 2012 #33
deacon Jan 2012 #35
hughee99 Jan 2012 #37
TheKentuckian Jan 2012 #43
ProSense Jan 2012 #48
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ProSense Jan 2012 #51
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