Last week the U.S. credit rating was downgraded by China and the S&P. China is not a major credit rating agency so no one really cares. Should they? Yes. China loans the U.S. more money than anyone and they hold the largest amount of U.S. bonds and notes. If China doesn't loan the U.S. money then the U.S. Government will not be able to pay anyone anything.
How does this mess get fixed? Americans looked to the Government to fix the problem. Did they? NO. Instead of fixing the problem they acted like a bunch of 2 year olds. Baby Dumpling is more mature at the age of 3 than those politicians in D.C.
Again, I ask how does this mess get fixed?
I came up with some solutions or ideas that could fix this problem, but there are a few things that need to be changed. Social Security and Medicare should not be classified as entitlements. Working people have been putting money into Social Security their entire working life. People have been putting money into medicare since daddy Bush said, "Read my lips, no new taxes." Now if I put my money into the bank and one day the bank said they have decided not to give me my money when it was time, that would probably be cause for a lawsuit. Why should the government be any different? The politicians borrowed my money and promised to pay it back, now they don't want too. Sounds a lot like the banking industry over the past few years. If the politicians leave Social Security and medicare alone, do not touch that money for anything, there wouldn't be a problem with those programs paying what is needed. Social Security has been bringing in more money than it pays out every year for decades. These programs are not entitlements, these programs are our retirement savings accounts. If politicians cut these programs then the first thing they need to get rid of is the income cap. Regardless of how much money make, you pay into these programs.
So leave Social Security and medicare alone!!!
Now getting to my point of what can be done to fix the problem. Cut Foreign Aid for 2 years, granted that's only about $120 billion, but it's a start. Next repeal the Bush Jr. tax cuts for 10 years. Big companies like GE should pay a federal tax on profits. If these companies like the safety and security of doing business in the U.S. then they need to pay their share. No more tax breaks for businesses. They pay a flat 15% income tax on profits. Any company that sent jobs overseas during the past 15 years will pay an additional 15% to compensate the government for unemployment. Any company that has someone in a foreign country do business on their behalf in this country must pay an additional, "Revenue Lost Tax" of 5%. If these companies want to reduce their income tax by 20% then they can always bring the jobs back to the U.S. where they belong. The U.S. taxpayer bailed out the banks at a tune, according to some, $100 billion. We want it back now plus interest. I feel the banks owe more because the government has been buying their bad loans to the tune of trillions. We make them pay that back plus interest.
So there's how the budget gets fixed, but what about getting the economy going again? Instead of loaning banks and Wall Street money at 0% interest, our government should loan the people money at 0% interest. The money can be guaranteed through income tax returns. It's not fair that banks can borrow my tax dollar at 0% and loan it back to me at 30% interest. I say the American people should be allowed to borrow tax dollar at 0% interest, but up to a limit of about $10-20,000. That money would most likely be spent on things that will get the economy moving at high speed and unemployment would drop like a brick. The government would be bringing more money because more people are working...
Let's go further with generating money for the government to piss away on projects like the study of pig flatulence for $2 million. The government sells oil to refineries with conditions that the fuel produced is not exported and the price of fuel is reduced by 75%. We sell them oil for $28 barrel, effectively cutting the price of oil world wide. That will generate money and speed up economic recovery or put the economy into overdrive.
It would be nice if people comment with better ideas or suggestions to make these ideas better, then maybe the government will do something besides act like a bunch of 2 year old children with poop filled diapers.
