Ways to pay down the Govt debt...

Discussion in 'Current Events' started by Lue C Fur, Jul 29, 2010.

  1. Lue C Fur

    Lue C Fur Evil member

    Government can be scaled down to eliminate this structural deficit. The federal government must begin to divest itself of things that rightly and provably can be provided for by the private sector, and use that money for debt reduction while the economy recovers and can grow at a faster pace than the debt.

    Examples of things that can be done immediately include:

    1) selling off and opening up the 650 million acres of federal land for extraction and development by the private sector,

    2) unwinding the $5 trillion Government Sponsored Enterprises Fannie Mae and Freddie Mac and bringing an end to government-induced housing finance,

    3) selling off the shares of bailed-out companies like GM and Chrysler,

    4) eliminating whole departments and agencies that are unproductive,

    5) scaling back the federal workforce by 50 percent as the Baby Boomer generation retires,

    6) ending worthless "stimulus" programs,

    7) abolishing federal subsidies of sectors like agriculture,

    8) bringing an end to the bailouts once and for all, and

    9) repealing government takeovers like ObamaCare and the Dodd-Frank financial legislation.

    That's just for starters. Structurally, the greatest problem the nation faces fiscally is the unchecked growth of entitlement spending. These programs need to be phased out over time by allowing younger workers to invest in their own retirements and health savings, while guaranteeing the obligations of the Baby Boomers. This would automatically limit the universe of liabilities owed to these programs.
  2. moreluck

    moreluck golden ticket member

    We need to put the extra $$ from stimulus to pay down the debt!!
  3. Lue C Fur

    Lue C Fur Evil member

    Cant take away the stimuls money from Pelosi for her Marsh Mouse program...lots of jobs created with those tax dollars.:angry:
  4. jimstud

    jimstud Banned

    legalize pot.
  5. klein

    klein Für Meno :)

    All those cuts sound good.
    But, nothing passes thru legislation, unless it's tax cuts (because neither party would want to vote against the public opinion).

    My prediction: The IMF and China will decide/dictate your fiscal responsiblity within the decade.
    As has been done to Greece.

    Looks a lot rosier here , This just in :

    Ottawa's fiscal position looking rosier, could post surplus in 5 years: report

    1 hour, 49 minutes ago

    By Julian Beltrame, The Canadian Press

    OTTAWA - Ottawa's battle to rein in record deficits could be won a full year ahead of schedule, says the Conference Board of Canada in a new analysis of how the economic recovery is impacting government finances.

    The Ottawa-based think-tank's new analysis on the nature of the economic rebound shows that Ottawa stands to eliminate the deficit — and actually post a $5-billion surplus — within five years.

    Last edited: Jul 29, 2010
  6. browndevil

    browndevil Active Member

    Pull out of both wars!
  7. moreluck

    moreluck golden ticket member

    Marsha, Marsha, Marsha ! Thanks Jan!
  8. over9five

    over9five Moderator Staff Member

  9. Lue C Fur

    Lue C Fur Evil member

    Hey Klein...here is that link for you incase you forgot:

  10. klein

    klein Für Meno :)

    Lucy, I can drink myself silly and then some, and yet never post as childish as you do !
    And you work on airplanes ?

    You mean paper planes, I hope.
    From all your posts, all I see is some new kid in preload !
  11. tieguy

    tieguy Banned

    +! Luc awesome graphic. Anyway you can repost it so I can save it. You have captured the essence of Klein.
  12. bbsam

    bbsam Moderator Staff Member

    cut defense spending by 2% and entitlement programs by 1% and increase the cus by 1/2% year over year for 10 years.
  13. Lue C Fur

    Lue C Fur Evil member

  14. pickup

    pickup Well-Known Member

    Agree! 129 percent!
  15. DS

    DS Fenderbender

    Increase taxes on non essentials by 10%,,,fast food, liquor, and cigarettes.
    Get out of Iraq,stop wasting money on the space program,stop subsidizing corrupt
    3rd world countries,,no sales tax for first time home buyers.
    Increase licence fees for luxury vehicles,amnesty for illegal immigrants that want to become Americans,
    tax credits for buying American made products,eliminate brokerage charges between Canada and the USA
    for anyone shopping online,OK thats just a few ideas.
  16. over9five

    over9five Moderator Staff Member

    LOL! For a minute there, I thought you were suggesting liquor was a non-essential!
  17. moreluck

    moreluck golden ticket member

    Originally Posted by DS
    Increase taxes on non essentials by 10%,,,fast food, liquor, and cigarettes.

    Klein wouldn't have any $$ left for his Lipton's Noodle Soup.....he'd have to switch to Cup 'O'Noodles!
  18. klein

    klein Für Meno :)

    It's been done here for the longest time. (pack of brand cigs $12, 6 pack of molson/budweiser $12.).

    If you buy white milk no taxes, but choclolate milk has taxes (5% GST).
    Any prepared food, even instore made and packed sandwhiches 5% tax. Raw foods no taxes (like bread and meat to make your own).

    And think I bought cartons of cuban cigs for $12 ! They had cheaper ones for $6 a carton (but tasted like cigars)....
    Trip paid for itself :) , when you include the free food and drinks, plus the 2 bottles I brought back along with all the cigs (4 cartons). :)
  19. tieguy

    tieguy Banned


    I think I know where canada can make some signficant savings on unemployement payouts.
  20. klein

    klein Für Meno :)

    They have a billion dollar surplus in that fund, alone. - They don't even know what to do with that money !
    We have a different system here.
    Taxes don't get thrown into 1 big pot.
    EI premiums go to an EI fund.
    Pension premium goes into the pension fund.

    Well, and taxes are taxes.

    It's too late for Americans to set that up. Because all you would do is divide up debt !