I sent money to Kasich's campaign before Trump won the nomination and I gave up being a Republican.
Only time I ever gave money to a politician.
Inflation and a recession are now here :(
- Thread starter lawpoke87
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Only time I ever gave money to a politician.
No chance imo. Our only hope is a deep recession and a cut in spending. The first might occur the second will never happen. I’ve been preaching this for awhile….you can’t keep rolling out $2T deficits when your debt service costs are somewhere north of 5%. The next time the current Admin addresses this will be the first. Yet it is the most pressing issue facing this country. Unfortunately it’s not an issue which results in votes. Thus crickets.
Going to disagree slightly. Yes…the Fed has screwed this up from the beginning. Failing to sound the inflation alarm when it was apparent what was coming down the tracks. Supporting trillions in additional government spending at a time of labor and goods shortages. Unfortunately, we’re at the point now where the Fed has very little control over mortgage rates. We have pissed off most of the historic buyers of our treasuries. At the same time we are trying to sell an unprecedented amount of the same. There just aren’t enough buyers. The result…higher and higher treasury yields which in turn result in rapidly rising mortgage rates. In short….we are screwed.
“You need revenue, you need to deal with spending, you need to deal with entitlements — and you need to wonder whether democracy is capable of doing any of that.”
Washington blinks as debt costs begin to bite
Increased spending on entitlements and interest could snowball in the coming decades, putting pressure on Washington to act earlier to rein in annual deficits.
www.politico.com
I hate that the solution is always either tax more! Or Make Cuts!“You need revenue, you need to deal with spending, you need to deal with entitlements — and you need to wonder whether democracy is capable of doing any of that.”
Washington blinks as debt costs begin to bite
Increased spending on entitlements and interest could snowball in the coming decades, putting pressure on Washington to act earlier to rein in annual deficits.
The government has the power to fundamentally shift the paradigm in why entitlements cost as much as they do. They should be focused on conserving value to constituents while reducing the costs to realize that value. That probably means drastic changes to several industries. The prime ones are probably the Health Care and Pharma industries.
Considering the government already negotiates and contracts what they will pay its health care providers under Medicare/Medicaid do you believe there is the amount of savings available to significantly reduce government outlays under these programs?
The ideal solution is obviously to cut deficits and take steps to reduce the interest rates we’re paying on debt service. That conversation needs to start at the White House and work its way down with a moderate plan which can garner bi-partisan support. Need some leadership….now.
Negotiations on prices don’t drop prices as much as having A healthcare system that operates generally within the realm of fiscal reality does. Getting a 30% price drop on a procedure that’s billed at $100,000,000 but should only cost $2,000 is what is killing those systems.
The Fed’s aren’t paying $100,000,000 for a procedure which should cost $2,000. Like I said, we might see some cost savings with Medicare/Medicaid but said savings aren’t going to be near as large as many believe because those charges are already being significantly reduced due to the existing government contracts. Feds are paying a fraction of what individuals pay for the same services.
How does no one in power have the courage and integrity to lay out the facts and say “this isn’t sustainable. Spending at this rate must stop and stop now”? To answer the question….yes. This is how empires die. They either run out of money/resources or are conquered. You cannot continue to borrow money to pay interest on the money you’ve already borrowed. Yet this is exactly what our political leaders are planning.
Unfortunately our schools no longer teach economic reality...
Many investment bankers are saying as many as 6 cuts..
I remember the rate cuts of the mid 70s.. when inflation roared back to double digits..
But, Biden is polling bad and we gotta get his numbers up on the economy..
www.businessinsider.com
I remember the rate cuts of the mid 70s.. when inflation roared back to double digits..
But, Biden is polling bad and we gotta get his numbers up on the economy..
The Fed signals 3 interest rate cuts for next year
The Federal Reserve held interest rates steady in December, closing out a year of intense inflation fighting amid pandemic recovery.
www.businessinsider.com
It kills those who don't have an insurance company that negotiates realistic prices instead of being forced to take rack rates. Who are those people? The poor would don't qualify for health coverage. And even for those with coverage, the leading causes of bankruptcy are medical expenses and job loss (aka medical expenses).
dow hits a record high.
now for the rest of the story: it's only worth 80% of what it was in 2020.
now for the rest of the story: it's only worth 80% of what it was in 2020.
Surely you jest. McCarthy's boys took more thant 80=% of the spending off the table as untouchable. No way you can have any real effect by looking a fraction of the spending. Of course balancing a budget should involve looking at revenues, but that was also off the table. As long as that approach dominates, budget cutting talk is simply political farting around.
He just sends you his feelings after reading the Breitbart idiots guide, one liner text edition of budget negotiations.
No doubt. Biden needs to signal what he will accept as far as spending cuts and start the negotiations there imo. No use proposing cuts if they’re dead on arrival at Biden’s desk. Opposite on the revenue side. The House needs to signal what revenue side (tax increases) they will accept and provide those to the White House to start negotiations. Neither will occur because both sides will use the proposals as campaign points in 2024. Our political system is a mess.
He's attempting to cut spending by medicare on drugs. He is not cutting coverage. He's cutting the amount medicare spends with drug companies, while getting the same amount of drugs for patients. It will hurt the drug companies earnings which may affect research. That may hurt individuals eventually. But that's not a cut in benefits.
Stop reciting lines from American Action Network.
they were charging more because the gov was paying the bill.
you missed my point, he spent Medicare money on his green agenda.
you missed my point, he spent Medicare money on his green agenda.
God, no. You are so wrong, like usual.
He makes them(drug co) take less, and then you pick out what bothers you the most, and state that he spent what he cut from the program on that. It implies he cut coverage, and spent it on that thing, which is not true on several levels. You are working for Breitbart free of charge.
I learned about a system of economics like that in a class at TU... i cant remember exactly what it was called... but, it started with an F and ended with an M..
That's not the criticism he's making though. If it were then it might have some lift to it. Instead it sits on the ground in the muck.
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I’m all for saving money wherever we can and even more supportive of fixing our current broken healthcare system. That said, we are talking about pennies here when compared to our $6T a year and growing yearly spending. We are going to need to find more substantive reductions. I’m not sure the revenue sources are there even with raising taxes to meet our current level of spending
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Yup. The system will have to crash before the people in DC will address the deficit. Unfortunately, a lot of pain will come with that crash. Will be glorious to watch each side blame the other.
I think he means questionable, at best, determinations of disability during the Obama administration when unemployment benefits ran out for some otherwise able bodied workers, mostly poor whites in middle America.
