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DAVID M. WALKER U.S. COMPTROLLER -Time for each of us to cough up $24,000

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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 03:41 AM
Original message
DAVID M. WALKER U.S. COMPTROLLER -Time for each of us to cough up $24,000
Time for each of us to cough up $24,000 to erase U.S. debt
http://seattlepi.nwsource.com/opinion/167339_gao04.html
DAVID M. WALKER -- U.S. COMPTROLLER GENERAL


Considerable attention, and rightly so, has focused recently on the war against terrorism. But it would be wrong to conclude that this is the only clear and present danger confronting this nation. The United States faces a large and growing fiscal imbalance that also threatens our economy and way of life.

The United States now has a gross federal debt of around $7 trillion, which works out to about $24,000 for every man, woman and child in this country.

But this number excludes several big-ticket items, including accrued civilian and military retirement benefits, veterans' disability and medical care, environmental clean-up costs and contingencies associated with government agencies and government-sponsored entities.

Most important, it ignores the huge unfunded promises associated with Social Security and Medicare over the next 75 years. If these items are factored in, the burden for every American rises to well over $100,000.
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7th_Sephiroth Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 03:47 AM
Response to Original message
1. i ant payin
for george w shrub and the living heart arttacks greed
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Old and In the Way Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 04:23 AM
Response to Reply #1
2. Everyone should decide not to pay their income taxes this year.
Just tell Uncle Sam that we've decided to tear up the social contract. Screw it.
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radfringe Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 04:30 AM
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3. Mr. Walker going for a walk soon?
given bush* inc's track record on smearing critics... and they've fired people for saying less than this article says

umm how long before they give Walker his walking papers?
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indepat Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Apr-07-04 03:40 PM
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4. Nothing to worry about: the rest of the world will continue to fund our
national madness - or will they? Will we too need a wheelbarrow load of greenbacks to buy a loaf of bread in the too not distant future?
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cornfedyank Donating Member (642 posts) Send PM | Profile | Ignore Wed Apr-07-04 05:34 PM
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5. this is why the high end tax cuts were wrong
think back. the problem with the economy in 2000 was not that it needed more capital for investors. interest rates were already very low. there was plenty of cheap money for investors. the tax cut proposals of this administration, especially the complete elimination of the estate tax, looked to me like somebody was trying to take the vast profits made since reagan and leave town.

so we had a couple of years of surpluses. so what? 2 out of 30. take the bonus and pay off some debt. then 911 came and instead of saying something has come up we are going to need that money, they just want to put it on the national credit card.

the people that have made fortunes deserve something for their efforts, but they also owe something to this country that provided them with a safe place to do business. not to mention pretty good government contracts in some cases.

i just despise greedy people. idiots are a close second.

wage peace it's cheaper
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