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Next four years

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#21 oofrostonoo


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Posted 05 February 2013 - 03:58 PM

How large Greece's economy is not the whole issue, but rather debt as a percentage of GDP. We're not there yet, but probably will be in about 10 to 15 years. The better comparison is Japan, and they're not doing so well either.

Ultimately though, whether it's Obama or the Republicans, the national debt will increase, absent some huge economic boom (such as the dot-com boom of the mid/late 90s) that won't have much to do with who is running the federal government. The fact is, the nation is aging with more retirees that will live longer and require more expensive medical treatment supported by fewer workers. You can come up with any little scheme that you want to trim costs, it's all rearranging the deck chairs on the Titanic. You can futz with the tax code all you want. Since Eisenhower, with multiple changes to the tax code, the percentage of GDP of receipts has been roughly the same, whether or not the rich are paying their fair share.

The voters have only themselves to blame. Democracy is the theory that the common people know what they want, and they deserve to get it good and hard.

Edited by oofrostonoo, 05 February 2013 - 04:00 PM.

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