Healthcare, Education, Energy-top priorities in the budget, which

babylonsister

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Wed Mar-25-09 01:24 AM
Original message

Healthcare, Education, Energy-top priorities in the budget, which

will be huge. What do you think?

Oh, add slashing the deficit by 50% in 4 years.

There's optimism!

Could this happen?

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Cleita

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Wed Mar-25-09 01:30 AM
Response to Original message

1. Yes, but only if they roll back the tax cuts to what they were before Reagan when

taxation was progressive and it stopped at 90% for the very highest income people. Also tariffs on imports to jump start our manufacturing base again in this country could also help reduce the deficit. However, I don't think Congress will go along with any tax reform that is that Draconian. My personal fear is with all this borrowing in trillions, they will have to print more money, which will devalue the dollar to far less than what it is worth today.

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babylonsister

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Wed Mar-25-09 01:41 AM
Response to Reply #1

2. They already have been printing money, for

years. Now that's your fear?

Bedtime for Bonzo. Bon soir. :hug:

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Cleita

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Wed Mar-25-09 10:21 AM
Response to Reply #2

4. I know that, however, I fear a frenzy.

I'm sure you have read about the Weimar Republic in Germany and how they attempted to meet the debt imposed on them by the Versaille Treaty after WWI by printing so much money that the average German's life savings were reduced to being enough to buy a sack of potatoes. The economic unrest paved the way for Hitler to undermine and then take over the Weimar Republic. My life savings have already been reduced by half because of this current depression. Printing a batch of money to pay off the debt will finish it off.

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FrenchieCat

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Wed Mar-25-09 02:37 AM
Response to Reply #1

3. We'll be alright ....The other countries are printing money too!

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