This, along with...
...the movie that came out recently talking about the national debt, really put things into perspective. It's amazing how politicians can bicker of stupid little things when we have these huge houses of cards built up just waiting to topple down. The latest, our housing "crisis", was just an example. What kills me is they pass on economic stimulus package which has tons of money for new roads, education, etc. But those will only create more educated unemployed people, or employ people for the short term until infrastructure projects are done ... and then what? They get laid off again. A real stimulus package would have a) addressed the housing issue in regards to the taxpayer, b) put money into science, research & development (to create new things other countries don't have) and c) put money into manufacturing/production (so we can produce and sell the new technology we create that other countries will want). Likewise, they didn't put any stipulations in the bill stating they'd give tax breaks if companies hired local labor instead of out-sourcing, etc. Our politicians have shot-from-the-hip and chosen short-term relief for long-term suffering. The money they're coming up with...$750+ BILLION dollars ... doesn't just come out of thin air. It comes from loans from other countries. If other countries are in trouble just like we are ... who are we going to get the money from? They could end up printing more money, as was shown in this movie, which would devalue the dollar even more. And, all this money they're borrowing, has to get paid back to whomever they borrowed it from WITH INTEREST, as the movie showed. Our national debt was somewhere between $10-11 TRILLION dollars before the TARP and this economic stimulus bill. With TARP + the stimulus bill, the government has basically bumped up the national debt another $1 TRILLION dollars. IE: in other words, the U.S. government just increased the national debt by ~9-10% in just SIX MONTHS. Who gets to pay all of that back? The future generations of America. You guys get stuck holding the huge bag of shit. With baby-boomers retiring, and ever-growing healthcare costs, Medicare & Social Security have to pay out even more. By ~2020, it's estimated that the Social Security reserves will be used up. That means more money will have to be taxed to cover that. What sucks for retirees is that the government has allowed companies to do away with retirement pensions, and instead focus on 401k investment programs. And, since very few people were educated in how to use them, the stock market tanking has wiped out a lot of peoples 401k retirement accounts. The government is screwing things up. And the more they try to fix things, the more they screw it up. That's not to say "tear it down and start anew". But, there needs to be changes. I don't think our current administration is going to be able to do what's needed. We're going to be on the verge of collapse before the idiots in office decide something "really must be done."