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  • A Yahoo! User Oct 1, 2008 4:46 AM Flag

    Our Unsustainable Fiscal Path

    The Government Accountability Office issued a report declaring the federal government on an “unsustainable long term fiscal path.”

    According to the GAO, a non-partisan government agency, the projected cost of Social Security, Medicare and Medicaid, brought on by an aging population. We will be spending $41 trillion dollars more on these entitlements in the next 75 years than we will receive in payroll taxes.

    We have politicians proposing universal health care and bailouts of finanacial institutions.

    Excuse me while I laugh my asssssss of at the stupidity of anyone who thinks that the government is going to take care of them.

    If you can't take care of yourself you will spend your life in misery so you better get busy avoiding it.

    Work hard, live frugally, save like a dog for a rainy day, and vote against any increase in government taxation or spending.

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    • Every morning when you get up.

    • Any politician who promises the government can do something from now on simply won't have the money to do it. They will fall flat on their faces. Doesn't matter what party they are from.

    • I have to say, flattering will get you no where.

      Gimmie, I know you're frightened by the economic situation, that's why you posted this rant on the government. But some of us have worked for a living and developed real-life skills, and have not depended solely on the stock market as their only means for survival. Dow Chemical and Exxon Oil are your momma and papa, and it's hard to see them get fold. You now beg for the govt to bail them out too, because they are your only lifeline is tethered to their dwindling profits. I know many frightened investors like yourself who are running scared, but I'm confident that one day you'll find a niche somewhere, Wal-Mart maybe. And find peace with your mental turmoil.

    • Hire two oil men and see what you get.

    • I guess it's assuming too much to expect you to understand any concept that runs deeper than your simple dollar obsession gimmie. Wise decisions are not always made by maximum immediate profit. One example is the war you support. What is the profit in spending 2 trillion on the Sunnis? What is the profit of developing mass transit 30 years ago in anticipation of declining oil reserves and the phasing out of the automobile in the early 2000s? I know you can't understand the difference between a life investment and a stock investment, not when you've been suckled on greed and weened on gasoline. You're a nanny to the DOW, and you believe that as long as you pet the dog, it will love you back. That's the simple world as you understand it. Meanwhile the dog eats your children.

    • You sound nervous now that you know the government won't be able to afford to give you free health insurance and a free retirement. Ain't life grand.

    • Current Fiscal Policy Is Unsustainable
      •The “Status Quo”is Not an Option
      •We face large and growing structural deficits largely due to known demographic trends and rising health care costs.
      •GAO’s simulations show that balancing the budget in 2040 could require actions as large as
      •Cutting total federal spending by 60 percent or
      •Raising federal taxes to 2 times today's level

    • Here is how the GAO entitles its latest report on Social Security, Medicare, and Medicaid. Keep in mind that the government bailout and nationalized health care aren't even included.

      The federal government is on a “burning platform."

      If you want any type of comfort in retirement, any type of health care plan, any type of life then you better realize that the government can't provide it for you, only you can provide it for yourself. So work hard, live frugally, poor all your energy into your family, and vote against any increase in spending or taxation because that is like throwing money into the middle of the ocean. You will never see it again.

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