America's Ticking Bankruptcy Bomb

[tobee43]

justbroke:This problem is bigger than blaming anyone but the Congress that has done this over the last 30-40 years. The current Congress is trying to fix the problem, but it may just be... too big to fix. Only a complete failure would "reset" the economy and cause some serious re-thinking.

it is too big to fix, IMO, i do understand we have to move forward to changing the system as it presently exists. however, once again, i say the health of a country directly reflects the way they care for their old and poor. we have failed to the ump degree. i do believe it was mismanagement, government wasted programs, and our society's use of the system since it's inceptions...remember a chicken in every pot...shoot now we just need a pot to p** in...

[frogger]

And get a look at our last hope to oppose Obama.
:

All those talking heads running against him are the same (perhaps Ron Paul excepted). The only difference between them is their tan is not quiet as deep.

[Pandora]

Well I for one know where states can get tons of $ (or at least in my area). Driving to the store earlier this past week, run across VDOT worker with "SLOW/STOP" sign at / near top of a hill. Think to myself "ok..doing road work...great..road sucks". Felt bad for the guy as it was about 110 with humidity factored in... until..... we started to crest the hill. What did we see? Try 3 pieces of equipment, 25 trucks of some sort or another, at least 40 workers - with all but 6 just standing around doing NOTHING! So those 6 that were actually doing the work were the 2 flagmen, the 1 guy driving the "Follow Me" vehicle, 1 guy operating the tar/chip, 1 guy using the roller, and one other guy that was sweeping behind the other 2.

Now ask yourself the big question - exactly HOW much money was just standing around being wasted, drinking coffee, smoking cigs and b.s.ing while those 6 were working? Awful.....

I'm tired of states / counties crying "we're broke" yet waste tons of money and whats even worse is seeing all those people standing around with a big ass sign that says "Your Recovery Dollars At Work!" GAAAAAAAHHHHHHH!!!!!!!!!! Makes me want to yell out the window "Thanks but I'd like to have my money back, got my own "recovery" to put it towards!"

[tobee43]

Well I for one know where states can get tons of $ (or at least in my area). Driving to the store earlier this past week, run across VDOT worker with "SLOW/STOP" sign at / near top of a hill. Think to myself "ok..doing road work...great..road sucks". Felt bad for the guy as it was about 110 with humidity factored in... until..... we started to crest the hill. What did we see? Try 3 pieces of equipment, 25 trucks of some sort or another, at least 40 workers - with all but 6 just standing around doing NOTHING! So those 6 that were actually doing the work were the 2 flagmen, the 1 guy driving the "Follow Me" vehicle, 1 guy operating the tar/chip, 1 guy using the roller, and one other guy that was sweeping behind the other 2.

Now ask yourself the big question - exactly HOW much money was just standing around being wasted, drinking coffee, smoking cigs and b.s.ing while those 6 were working? Awful.....

I'm tired of states / counties crying "we're broke" yet waste tons of money and whats even worse is seeing all those people standing around with a big ass sign that says "Your Recovery Dollars At Work!" GAAAAAAAHHHHHHH!!!!!!!!!! Makes me want to yell out the window "Thanks but I'd like to have my money back, got my own "recovery" to put it toward!"

HERE TOOOOOOOOOOOOOOO!!!!

we can't believe it. actually we were told that the vice president myself came down to this county due to the continuous road constructions.......the ROADS to NO WHERE...i mean really, they are breaking into farm land here and just keep people working and all the roads go in circles!!!!

right, and we are broke here too??? i just don't get it. although, i think some may be coming from federal funds, state funds and county funds....needs to stop.....also we live in a small town and have a budget of over 2 million for a 40 force police dept???? i don't even think we have much over 40 people in town...LOL!! nothing like a one on one experience. contract our coverage to the sheriff's dept!!!!!!!!! or to the state police and save us some money PLEASE....wow..i needed that vent!

and while i'm at it....ok, i'm in walmart and i'm in line for over 45 minutes......why...because the lady in front of me who reeked of cigarettes and her order was full of candy, cake, junk food piled high as the sky. (well, ok i'm exaggerating a bit...but just a bit now ), was having problems with her food stamps.........Please... i don't mind helping the poor eat for Heavens sake, but cake, i don't think the Lord ever said..."and let there by CAKE AND SODA" did she???

[justbroke]

I will tell you that I'm one of the first to chastise various State DOT departments. The real reason that we blast them, is because it's easy to "watch" them working. I'm sure that many of the jobs are safety related with, albeit too many, supervisors. In any event, DOT departments get the brunt of the "too many" workers on a job site.

That was my position until I saw FDOT (Florida Department of Transportation) in action. First, I noticed that they worked on highways primarily at night! They worked 9PM until 6AM. That was not an "overtime" shift, it was just a shift! They try their best not to interrupt the flow of morning traffic. I thought that this was a great idea. Besides, it's just too hot in the daytime to work anyhow... so it was a win-win.

But then, I saw something that I've never seen before. The FDOT put in 1-mile of 3 lanes in less than a week. I'm talking "NEW CONSTRUCTION" with little time for planning. You see, back in 2000 (or 2001) a fuel tanker overturned under a major underpass, burst into flames, and the temperature was so hot, that it caused the steel under the overpass to buckle (the concrete also "popped" and cracked). This would cause GREAT headaches for Northwest Hillsborough County and the West Tampa area. FDOT not only rose to the occasion, they put in a brand new "bypass" road in less than 7 days. I have NEVER EVER seen a municipal/government department work so hard. I salute them.

However, that doesn't mean that there isn't waste. I see government waste all the time and it's sad. However, we as voters allow this to happen. It really comes down to productivity. Government just doesn't run the same productivity levels as the private sector. In the private sector, we will lose our job quickly if we don't perform. In the public sector, it's hard to get rid of someone, so there is no motivation to go above and beyond in your job. That's not a knock on public sector workers; they usually aren't paid as well and have no incentive systems. (However, these days, most private sector workers would take a public sector job ANY DAY!)

[mlsj2009]

The Sky is falling

The sky is falling, the sky is falling, oh, woe is me. I am now scared, will never vote for anyone else except someone who supports "trickle down" Reaganomics. We is broke, and it is Obama's fault. Woe is me!

Sorry for the facetious mood, but the story is ridiculous and other than the concept that America has being going bankrupt for over 60 years now, the story is much more political than contributory toward and understanding of bankruptcy for the average citizen.

The United States first began to get into debt in 1789 when Alexander Hamilton was appointed Secretary of the Treasury. He showed us how wise it was for our federal government to borrow money and we have been doing it ever since. So, it is not a new problem. The feds story may be a whole lot like the average American going bankrupt because its story is our story, but the only difference is there is no bankruptcy court that can serve that particular debtor. All the fix it mentality, therefore, will be political by nature.

I personally doubt that either party, as long as they allow lobbyists to buy them off, will do what is necessary to fix the problem. Right now, the problem is fixable, but the fix is so harsh, no one will agree to go down that road until we have to. Just like a bankrupt person isn't it?

Entitlement programs are only part of the problem. The real problem lies in the philosophy of spending more than you bring in no matter what you spend it on. Simple, huh? By the way, I disagree that Social Security is an entitlement program. Social Security was started as a retirement program and has evolved into other areas like disability insurance. Contrary to what you may have read on this thread, Congress has done very little through the years to subsidize the program, and they have used SS money in the past when there was excess. You can find verify this information on the SSA website where I got it. Not enough posts yet to quote links.

So, how do we fix it? The real entitlement program is allowing exemptions from taxation. There is really no need for an income tax, property tax, or most any other tax than a direct use tax, but one that EVERYONE has to pay, no exceptions. Our money in the United States rolls over around 7 times a day and if the states were collecting 1-3% on each roll over, there would be enough money to fund every government and still pay the debt off very quickly. But, unfortunately, I doubt it will happen until we are completely bankrupt because that is just our nature.

With this opinion and $5, you can buy you a cup of coffee almost anywhere in America.

[tobee43]

mlsj2009: With this opinion and $5, you can buy you a cup of coffee almost anywhere in America.

what?????? you didn't see the news this morning...it's $7 for that cup LOL!!!!

jb, i hear you loud and clear and i'm not suggesting that all DOT personnel are lazy or not working. (we recall that terrible bridge situation and they worked as hard a possible to resolve that problem if we are speaking about the same one off the turnpike), actually, we can see the result of their productivity and usually it's very sound work.

however, come for a visit to my home...( i promise you a good dinner and some fine wine...) and take rt 50 and you'll see the biggest mess ever

[chicagoed195]

Without trying to diminish the severity of the gap between revenues and expenditures, the article itself is so full of partisan bullcrap that is has no credibility. It is written by a Republican hack trying to sell a book. The article is replete with some truth, some half truths and many mistruths.

[tobee43]

Without trying to diminish the severity of the gap between revenues and expenditures, the article itself is so full of partisan bullcrap that is has no credibility. It is written by a Republican hack trying to sell a book. The article is replete with some truth, some half truths and many mistruths.

which makes it's such interesting conversation and speculational thought!! i am really wondering what truth really is now a days...kinda like infinite and finite...and we don't want to get into that discussion...LOL~~

[IamOld]

cHICAGOed the thing is that deficits as such are NOT the problem - we have a revenue problem - the uber-rich and the banksters etc are not paying tax. 2/3 of all major US co's paid ZERO fed tax. Deficits are not necessarily and issue as long as the money is spent domestically on things that create wealth and employment - such as...building things - sending students to school, etc.