'US hides real debt, in worse shape than Greece'

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1. He'd have more credibility if he had said something about the monstrous military deficit or the fact that less than one tenth have stolen almost all the wealth in the country or the fact that 40 years of trickling down and neoliberalism privatizing everything has put a huge burden on society and less and less on corporations.
2. We printed money to cover the risk loss that the rich took.. the 2007 bailout was to keep rich people from losing their money.. and they dumped the costs of the bailout on the bottom percent income
3. Notice he keeps talking only about cutting old people costs but never mentions the military or the rich..
4. The United States or as the people aware of what is happening refer to it as the "JEWNITED STATES OF ISRAEL" is run by criminal jews in both finance and government. As long as jews run the show, both the American people and people of the world will be poorer for it. There are no so-called "globalists" or "1%"...there are only jews and they are all funding that warmongering going on in the Middle East. These jews bribe congress with kidnapped children on jewish Epstein's Israel of paedophilia. They also send kidnapped sex slave children to the politician's homes at the behest of those criminal politicians. The jews that have infiltrated the American government naturally don't need to be bribed since they are there for Israel in the first place. Billions of American taxpayers dollars sent to that country of jewish rats every year while the American economy crumbles. Wars are exposed by WIKILEAKS as Hillary Clinton wrote herself that the only reasons for destabilizing Syria and Lebanon was to steal their oil for Israel and make sure those countries will never be a threat to jewish zionist power in the Middle East. As they say, ALL WARS ARE BANKER WARS AND BANKERS ARE JEWS. The sooner people wake up and see the jewish destruction of both the United States as well as the world, the better. No jews should even be allowed anywhere near the White House. It's just a matter of time before the jews trigger an all out nuclear war since they never know when to stop. Being parasites is what they do best and they won't stop until the host nation is dead. They did it to the German people, the Russian people, the Ukrainians, and now to the United States and Europe.
5. Reality is bitter, one of the most expensive thing in entire world is commencing war. And madly and stupid US politician have never learned from past mistake . And impose war in sovereign country in the name of democracy , in the name of terrorism, indeed American politician are world most dangerous terrorist who spend all borrowed money into war rather than build nation. And reality is in front of us that US economy is collapsed. syndromes have been seen through since ninety decade that is after gulf war.
6. The few rich families that own 85% of the US wealth and got rich through the successive crisis should pay. But they are waiting for the next crisis to become even richer !
7. More idiotic reporting from Russian Trash. Nonsense and utter rubbish. Gosh--these people are morons.
8. I can see the AMERICANS going to AFRICA to look for JOBS..., you got paper money wealth.
   AFRICA got real natural wealth, THERE IS NOTHING LIKE A REAL THING, to be continued...
9. wtf. this guy is a dooche. all you need to do is cut a small fraction of military spending.
10. new world order is coming
11. Never a word about the Creature From Jekyll Island, Fiat Currency, backed by nothing, manufactured from thin air. From Woodrow Wilson to Barak Obama, and now the Fascist Oligarchy own it all. Wake Up,  your nothing but slaves!
12. Baby boomers racked up trillions in debt and now everyone else is expected to pay their debts and their social security. Baby boomers are freaking communists. Not to mention they clutter up the streets and shopping centers, "I HAVE TO WORK! GET THE FUCK OUT OF MY WAY YOU SLOW OLD IDIOT!" We have to be more careful about spending? Or, we cut social security. I don't need my children to take care of me when I'm old. I can do it myself, if not, then I deserve to perish. While we're at it, cut food stamps and all social welfare benefits. If you can't care properly for your children, YOU SHOULDN'T HAVE CHILDREN! Don't freaking expect me to pay for your brats. I have my own brats to pay for.
13. Raising taxes is not the answer. That takes away from the private sector and decreases economic growth. The answer must be to cut spending. For me, this is easy. Firstly, his $222 trillion number is referring to spending obligations. That's not current national debt. We have a national debt approaching $20 trillion. Going by 2015 numbers, we have a total revenue of $3.8 trillion. $583 billion of that is additional borrowing (deficit). Now, I believe the only legitimate role of government is to protect the people's rights to their own person/property. You are not allowed to murder, rape, steal, commit fraud, or otherwise infringe on the rights of others to their own person/property. Government protects against these basic infringements of rights through law enforcement, a justice system, and a military. Everything else should be left to the people (or at least the states) to decide for themselves. This would be my plan. First, cut out all illegitimate federal spending while keeping taxes temporarily constant. Now, military is by far the greatest of these three legitimate roles. We spend $598 billion there. Include federal law enforcement and justice system and we'll say the total spending would be $700 billion. We have $3.8 trillion in revenue minus $583 billion (stop borrowing and increasing the debt) and minus the $700 billion in legitimate spending. That leaves $2.517 trillion per year to pay off the national debt. $20 trillion divided by $2.517 trillion means we would pay off the national debt in 7.95 years (about two presidential terms). Once all illegitimate roles of the federal government and the national debt are both eliminated, then we can also eliminate all federal taxes and replace them with a single flat consumption tax that would be the same rate for everyone. This would have one of the least negative impacts on economic growth of any tax and there would be certain exemptions on basic staple food items so as to not disadvantage the poor. What rate would this tax be? Well, Americans spend about $10.7 trillion/year. Removing exemptions, let's say that leaves $8 trillion left to put a tax on. $700 billion divided by $8 trillion means a flat consumption tax of 8.75%. Even if it was only taxing $7 trillion of American spending. That's a 10% tax needed to pay for all legitimate government expenditures. At this point, we would work to make those few legitimate roles of government more efficient and effective. Just start with this. I don't believe we should be involved in any nation that we are not currently at war with. We should remove all foreign military bases. It's estimated that these bases cost about $150 billion/year to maintain. That alone decreases the needed revenue from $700 billion to $550 billion. $550 billion divided by $8 trillion means a tax rate of 6.875%. Also, it should be made so that the tax rate can only be raised by a vote in Congress and it must be for a specific reason. For example, it can be raised when Congress declares war (no more "police action"), but must be lowered at the end of said war. The war must have a specific goal and strategy to accomplish said goal as quickly, efficiently, and effectively as possible. We could only go to war if we are attacked, another nation is invaded AND they request our assistance in repealing said invader, or if a nation is outright murdering their own people. We should protect ourselves, the innocent and the weak abroad, nothing more. During peacetime, there should only be a small inactive reserve to maintain the capability for war (skills, etc.). This would be increased at the start of a war (along with an increase in the tax rate) and it would be reduced once more (along with the tax rate) at the end of a war. Anyway, the whole purpose of this plan would be 1) to eliminate the national debt and 2) to downsize government to only its legitimate roles. In so doing: 1) We would create far more freedom. People would be free to live their lives as they see fit so long as they don't infringe on the rights of others to do the same. 2) We would have a massive boast in economic growth and prosperity as there would no longer be any government restriction on the economy. We would have a completely free-market capitalist system. 3) Our federal tax burden would be virtually negligible. It would basically be a universal sales tax on any consumer goods (exempting certain staple food items). There would be other federal taxes. 4) Americans would be more responsible for their own well-being. You provide your own education, health care, etc. in a free market economy. Competition between different providers of goods/services breeds higher quality and lower prices. There would be no more government-created monopolies. Every business and every person succeeds or fails on their own without government involvement. For those who do need a little extra help to pick themselves up out of poverty, there are still private charities and other religious/secular organizations where you can get voluntary help. There is no more federal welfare for either corporations or individuals. Ideally, states would adopt the same model. However, the federal government absolutely must not force that upon them. The idea of federalism still applies. Individual states are free to try different ideas.
14. Looking at the situation now, it seems that having the most nukes, carriers and wars should be quite helpful instead of infrustructures.
    Weird???!!!
15. Everyone wants someone else to pay. But disease research charities can bring down future Medicare costs by finding efficacious treatments that go off patent. Think about canvassing.
    You can always grow out of debt. It's just hard.
16. I fucking knew it!...old people be fuckin things up
17. don't listen to old people they lie like crazy.
18. this dude's a hack.
19. Right.. Old people that many have payed into this system their whole life are the big problem in america.. You sure theres not maybe some other spending to look at? Like 106 plus billion a year over in the desert for 12 years running? Or medical costs for soldiers coming back missing limbs or the fact that they spend more on military than the next five countries combined? And thats just the tip of the iceberg. Or the 2 TRILLION dollars they just "dont know where it went"? No its those old people and their damn arthritis meds.
20. This guy is an apologist.He is just a FRAUD.He is actually a part of the system.The American people are just Goyam.They are human cattle,their History proves it,they are basically stupid,human cattle,Goyam.