[Wandatime]

By just about all accounts, getting our debt under control requires reducing spending in three main areas: Medicare, medicaid, and social security.

In a June 2010 opinion piece in the Wall Street Journal, former chairman of the Federal Reserve, Alan Greenspan noted that "Only politically toxic cuts or rationing of medical care, a marked rise in the eligible age for health and retirement benefits, or significant inflation, can close the deficit."[75] If significant reforms are not undertaken, benefits under entitlement programs will exceed government income by over $40 trillion over the next 75 years.[74]

74. United States Congress, Government Accountability Office (December 17, 2007). FY 2007 Financial Report of the U.S. Government, p. 47, et al. U.S. Government Accountability Office (U.S. GAO). Retrieved February 3, 2011.

75. Greenspan, Alan (June 18, 2010). "U.S. Debt and the Greece analogy". Opinion Journal [online]. Retrieved February 3, 2011.

Any takers? Anyone willing to get their medicare or social security significantly reduced for the good of the country?

[dbussone]

Originally Posted by Wandatime

By just about all accounts, getting our debt under control requires reducing spending in three main areas: Medicare, medicaid, and social security.

In a June 2010 opinion piece in the Wall Street Journal, former chairman of the Federal Reserve, Alan Greenspan noted that "Only politically toxic cuts or rationing of medical care, a marked rise in the eligible age for health and retirement benefits, or significant inflation, can close the deficit."[75] If significant reforms are not undertaken, benefits under entitlement programs will exceed government income by over $40 trillion over the next 75 years.[74]

74. United States Congress, Government Accountability Office (December 17, 2007). FY 2007 Financial Report of the U.S. Government, p. 47, et al. U.S. Government Accountability Office (U.S. GAO). Retrieved February 3, 2011.

75. Greenspan, Alan (June 18, 2010). "U.S. Debt and the Greece analogy". Opinion Journal [online]. Retrieved February 3, 2011.

Any takers? Anyone willing to get their medicare or social security significantly reduced for the good of the country?

Perhaps if the thieves in Congress and the WH could leave trust funds alone, these would not be necessary. And while we are talking abut trust funds, whatever happened to the highway funds that are paid for by federal and state taxes on fuel.

[Rags123]

Originally Posted by Wandatime

By just about all accounts, getting our debt under control requires reducing spending in three main areas: Medicare, medicaid, and social security.

In a June 2010 opinion piece in the Wall Street Journal, former chairman of the Federal Reserve, Alan Greenspan noted that "Only politically toxic cuts or rationing of medical care, a marked rise in the eligible age for health and retirement benefits, or significant inflation, can close the deficit."[75] If significant reforms are not undertaken, benefits under entitlement programs will exceed government income by over $40 trillion over the next 75 years.[74]

74. United States Congress, Government Accountability Office (December 17, 2007). FY 2007 Financial Report of the U.S. Government, p. 47, et al. U.S. Government Accountability Office (U.S. GAO). Retrieved February 3, 2011.

75. Greenspan, Alan (June 18, 2010). "U.S. Debt and the Greece analogy". Opinion Journal [online]. Retrieved February 3, 2011.

Any takers? Anyone willing to get their medicare or social security significantly reduced for the good of the country?

I agree totally with all that you present,

Keep in mind, that all social security reductions, AND THERE WILL BE THOSE DEDUCTIONS and all the other you mention will not effect those already in those programs.

What we need is leaders with the moxie to do the right thing. This has been proposed over and over and over and always never makes it to the floor.

You are correct and it will happen or we go down the tube. Anyone with any knowledge will agree, which is why I am amazed at how we just propose spending...NEW ones I am speaking of, like the college tutition, etc. We cannot afford it.

And not wanting to get p.......l BUT the Affordable Care Act is getting more expensive and health costs are going UP not down. Health care is one of the biggest parts of the GDP and needs to come down. We need someone to start to worry about our children and grandchildren. They,already will be wallowing in debt for so long.

Then today while folks are talking about our manufacturing rebirth, on CNBC, they issue this...

"the employment participation rate remains near historic lows. CNBC's Scott Cohn reports one new study calls the idea of a renaissance in manufacturing a myth. "

Manufacturing myth?

All you say is correct. My opinion we need to get back to the basics...tax reform...employment....ALL entitlement programs reviewed. There are a lot of unpopular items to be discussed that have been skirted for sometime now.

[chachacha]

it is my humble opinion that this sudden interest in reducing the cost of tuition for young people is a panacea to keep that demographic, who largely voted republican in the midterms. they are dismayed at the cost of their health insurance, and they have yet to figure out that the subsidies they may receive for health insurance will soon prove to be taxable income when they do their taxes. so throw them a bone with tuition help. never mind that we are already trillions in debt.

[B767drvr]

I'm confused. Are we selfish and have failed to invest in our country's future or have we overspent and over-invested in our future?

Is the "greatest generation" the greediest generation? Is that the assertion someone is suggesting?

Clearly, our nation's finances are on an unsustainable trajectory of ever-increasing debt. Is it immoral to ring up debt without any intention to repay it? Perhaps it's far more immoral to ring up debt, have no intention of repaying within your lifetime, but FORCE your debt to be repaid by your children, grandchildren and even those yet to be born.

If we can't begin to repay the debt we have now within a lifetime, how moral and reasonable is it to keep piling on more via expensive new programs of free tuition, etc…? When does the insanity stop? When do we stop kicking the debt can down the road? Do some not understand that we are enslaving future generations to a poorer quality of life to pay for our folly?

[Wandatime]

Originally Posted by B767drvr

I'm confused. Are we selfish and have failed to invest in our country's future or have we overspent and over-invested in our future?

Is the "greatest generation" the greediest generation? Is that the assertion someone is suggesting?

Clearly, our nation's finances are on an unsustainable trajectory of ever-increasing debt. Is it immoral to ring up debt without any intention to repay it? Perhaps it's far more immoral to ring up debt, have no intention of repaying within your lifetime, but FORCE your debt to be repaid by your children, grandchildren and even those yet to be born.

If we can't begin to repay the debt we have now within a lifetime, how moral and reasonable is it to keep piling on more via expensive new programs of free tuition, etc…? When does the insanity stop? When do we stop kicking the debt can down the road? Do some not understand that we are enslaving future generations to a poorer quality of life to pay for our folly?

Both.

[Wandatime]

Let me be more specific. We've invested in all the wrong things. Certainly not education or infrastructure to name two, but we bail out unscrupulous companies (lenders, etc.).

[Wandatime]

B767drvr, I have a feeling you and I are going to just have to agree to disagree and leave it at that. No worries! It takes all kinds to make the world turn.

[VT2TV]

First of all, for years I have been in favor of all kids going to a 2 year community college to get their basics in, work and save some money, and not have to pay-or have someone pay 40K for 2 years to party. But, I read an analysis by someone yesterday that says this does for the college tuitions what has been done by Obamacare for health. This "free" community college is going to cost the taxpayers a boat load of money. And the "work" requirements for this priviledge is not what it seems. I would like to think this is a wonderful idea would really work, but apparently a lot of students according to the article have already said, NO THANKS, OBAMA-you have lied to us too many times already. I am certainly not an authority, but before you think this is a wonderful idea-read about. Maybe you will see things the author did not see.

[sunnyatlast]

Originally Posted by chachacha

it is my humble opinion that this sudden interest in reducing the cost of tuition for young people is a panacea to keep that demographic, who largely voted republican in the midterms. they are dismayed at the cost of their health insurance, and they have yet to figure out that the subsidies they may receive for health insurance will soon prove to be taxable income when they do their taxes. so throw them a bone with tuition help. never mind that we are already trillions in debt.

BINGO!

Throw 'em a bone and assume they're too dumb or lazy to figure out where the money will eventually come from: their paychecks, if they can get/keep a job.

[tomwed]

Someone asked about the Greatest Generation also being the Greediest.

"The Greatest Generation" is a term coined by journalist Tom Brokaw to describe the generation[1] who grew up in the United States during the deprivation of the Great Depression, and then went on to fight in World War II, as well as those whose productivity within the war's home front made a decisive material contribution to the war effort, for which the generation is also termed the G.I. Generation.

The Boomers were nicknamed the Greediest Generation.

Boomers had low tuition educations, higher paying jobs, and houses were more affordable. The American Dream was easily attainable for me and my friends; especially if our wives worked too.

Free tuition seems to be working in Germany and they have a balanced budget click here

I guess I was looking for some college plan that would give the jobskills needed today for high paying jobs and maybe recreate life as it was when I was young. It doesn't seem as hopeful for young people. Does it?

[B767drvr]

Originally Posted by tomwed

Someone asked about the Greatest Generation also being the Greediest.

"The Greatest Generation" is a term coined by journalist Tom Brokaw to describe the generation[1] who grew up in the United States during the deprivation of the Great Depression, and then went on to fight in World War II, as well as those whose productivity within the war's home front made a decisive material contribution to the war effort, for which the generation is also termed the G.I. Generation.

The Boomers were nicknamed the Greediest Generation.

Boomers had low tuition educations, higher paying jobs, and houses were more affordable. The American Dream was easily attainable for me and my friends; especially if our wives worked too.

Free tuition seems to be working in Germany and they have a balanced budget click here

I guess I was looking for some college plan that would give the jobskills needed today for high paying jobs and maybe recreate life as it was when I was young. It doesn't seem as hopeful for young people. Does it?

Social security and medicare are the biggest drivers of the federal budget. Social security became law in 1935 (boomers definitely not to blame - weren't even born yet.) Medicare became law in 1966 (boomers were children - not the politicians that voted for it.)

[sunnyatlast]

Originally Posted by tomwed

Someone asked about the Greatest Generation also being the Greediest.

"The Greatest Generation" is a term coined by journalist Tom Brokaw to describe the generation[1] who grew up in the United States during the deprivation of the Great Depression, and then went on to fight in World War II, as well as those whose productivity within the war's home front made a decisive material contribution to the war effort, for which the generation is also termed the G.I. Generation.

The Boomers were nicknamed the Greediest Generation.

Boomers had low tuition educations, higher paying jobs, and houses were more affordable. The American Dream was easily attainable for me and my friends; especially if our wives worked too.

Free tuition seems to be working in Germany and they have a balanced budget click here

I guess I was looking for some college plan that would give the jobskills needed today for high paying jobs and maybe recreate life as it was when I was young. It doesn't seem as hopeful for young people. Does it?

When you and I (a few years younger) were young, it was not a "college plan" of financing that prepared people to be skilled entrants to a well-paid job and career. It was upbringing at home and school that taught us to:

-work, earn and save for what we wanted to buy;

-"obey" authorities, like teachers, policemen and employers;

-do your chores and homework on time;

-expect to hear at home: "If you get into trouble at school, you're in trouble at home, too. We're not going in there to run interference for you, and do not blame the teacher. Own up to it and take your punishment and learn from it."

- "Live within your means"

- Show up on time every time, and don't punch out from work until after quitting time.

- The customer is always right.

- This is how you make change when the cash register isn't working to tell you the exact amount in change.

- If you don't know the answer, admit you don't know and say "But I'll try to find out".

AND:

- "Pot makes you stupid."

It probably sounds simplistic, but those are the lessons missing from the upbringing of people I know who did not take advantage of those cheaper college options we had, and now they moan about "The system is rigged" and it's somebody else's fault, not their own.

[tomwed]

Originally Posted by sunnyatlast

When you and I (a few years younger) were young, it was not a "college plan" of financing that prepared people to be skilled entrants to a well-paid job and career. It was upbringing at home and school that taught us to:

-work, earn and save for what we wanted to buy;

-"obey" authorities, like teachers, policemen and employers;

-do your chores and homework on time;

-expect to hear at home: "If you get into trouble at school, you're in trouble at home, too. We're not going in there to run interference for you, and do not blame the teacher. Own up to it and take your punishment and learn from it."

- "Live within your means"

- Show up on time every time, and don't punch out from work until after quitting time.

- The customer is always right.

- This is how you make change when the cash register isn't working to tell you the exact amount in change.

- If you don't know the answer, admit you don't know and say "But I'll try to find out".

It probably sounds simplistic, but those are the lessons missing from the upbringing of people I know who did not take advantage of those cheaper college options we had, and now they moan about "The system is rigged" and it's somebody else's fault, not their own.

We share the same values. My children do to.

If the question is how do you prepare kids for high paying jobs then a reasonable answer is to provide them with a free education. Their higher salaries will be taxed and they will also contribute to Social Security. The problem is how do you tie that to their first 12 years of schooling so they are moving towards that goal and not looking at a life working for minimal wages.

I don't know what the answer is but I'm trying to find out.

[Rags123]

Originally Posted by tomwed

We share the same values. My children do to.

If the question is how do you prepare kids for high paying jobs then a reasonable answer is to provide them with a free education. Their higher salaries will be taxed and they will also contribute to Social Security. The problem is how do you tie that to their first 12 years of schooling so they are moving towards that goal and not looking at a life working for minimal wages.

I don't know what the answer is but I'm trying to find out.

AND how or who pays for that "free" education. All nice words and so pretty, but how do we pay for it ?