http://advisorperspectives.com/dshort/up dates/Debt-Taxes-and-Politics.php

See how the graph starts rising steeply from 1981, when Reagan introduced ‘supply-side economics’ — the only exception being Clinton, who brought the budget back to surplus & presided over an economic boom.

To this day, G.O.P candidates are pushing ‘tax cuts’. It’s dishonest & un-American to complain about the deficit & the economy, while blocking Democratic efforts to improve it. Remember the public option? That would have done more to bring down costs & provide a cheaper option, than any other recent suggestion.

Republicans attacked & blocked it.

Don’t forget that healthcare is cheaper (half the price) & better in Canada, France, Sweden & half-a-dozen other European countries. Many of them with single-payer or public options.

Why short one creditor when you should short them all? If America is broke, why send the bill to the American wage earner instead of the holders of all of those Treasury Bonds? There is no reason at all. Being bankrupt means paying your secured debt holders proportionately.

That is what is right. There is absolutely no reason the American wage earning class, which has paid over 45% of the Federal income from taxes for decades, should get shorted more than anyone else. Get used to it. Wars cost money. If you steal it and spend it, someone will likely want it repaid. Who cares if foreigners will not lend any more money to the Federal Government? Not me. Now that would balance the budget.

This proposal is to steal from the weak and pay to the strong. The reason that 90% of the population is “weak” is that the system is corrupt, corrupt, corrupt and the elections rigged, rigged, rigged. If they do this, we need an entirely new government system. Then the Constitution of 1789 will have utterly failed to deliver an electoral republic.

What is the “Defense” Department defending? The Republican and Democratic Parties? Or the American People?

To balance the budget, I also agree with cutting the intelligence, defense and military budget. I believe this budget has been bloated for many decades, benefitting only the military industrial complex, and sad to say, the armed forces. There should be significant cut in the headcount as well as operating budget. If going to war, the war budget must pass the congress scrutiny first. The last 2 war cost $1.7T (borrowed) that didn’t bring real benefits to the U.S. but instead more post-war costs for veteran programs, continuing medical cost, military family benefits, and interest on the borrowed money. (Ironically, the war also push the oil price from $20′s to $110′s and never recovered since). I believe that in this digital age, soldiers should play lesser role in the warfare, and lesser personnel is needed to maintain the military. The govt should shrink the budget for military personnel, benefits, and hardware. The cut in military & defense should be as much, if not more than medicare budget. After all, Medicare benefits many people, and we have contributed to Medicare.

And then there’s the tax reform. To balance the budget, revenue should be addressed as well as expense. There’s the unnecessary tax break for the wealthy. For the last 10 yrs this cost $800B, which like the wars, contributed to the huge deficit. Take note that last 5yrs, at 14% of GDP, is the lowest tax receipts since 1950. Prior to that, it was averaging 17%-18%. Corporate tax receipts was averaging 3.5% of GDP from 1950-70, has steadily decline to 2% in the 80′s, further 1-1.5% in the last 2 decades. Meanwhile, U.S. population has been growing steadily as well as the senior population.

So the solution: higher tax revenue (fed/state), lower military spending, lower healthcare cost. But I must add that Education and R&D shouldn’t be sacrificed. Of course the devil is in the details.

@txgadfly: You would lay at the feet of Ryan responsibility that rightfully belongs at the feed of congressmen of BOTH parties going back to the sixties. It was Congress, NOT Ryan, that promised “something to someone, [took] the money paid and [spent] it…”, and now must re-negotiate the promises as they now exist.

BOTH parties agree that there simply is not enough money available to keep these expanded promises in their present form. What part of “unsustainable” do you not understand?

I agree that Medicare should not exclusively “take the hit”, but, as Willie Sutton famously said: “That’s where the money is”. The journey of a thousand miles still begins with a single step.

Ryan does not seek to “not deliver what was bought”. He, to the contrary, is interested in preserving as much as possible of that in good faith by re-negotiating HOW part of it is to be delivered to future recipients. He offers SOMTHING instead of NOTHING.

The alternative is eventual default, a reality you seek to simply deny. The choice you desire is simply not one that exists, and so you’re angry. You’re not alone, but open your eyes…it’s time to quit whining and suck it up.

America is BROKE! Our ship of state has become a submarine and as she goes under you would have the hatches remain open! I don’t agree.

If American elderly take a “haircut” on Medicare, I demand that all other creditors of the USA take the exact same percentage cut. China, and every other holder of USA debt. Savings bonds. Federal “Insurance” of each and every type, especially to include financial instruments and obligations, Federal benefits including all payments of each and every kind to former Federal employees including “elected” ones and military ones. Every “forgiven” or otherwise not collected “loan”, “aid” or any other transfer of money or assets to every foreign entity. Hit everyone if you are to hit your own people.

They do not care about defrauding the American people because they have rigged the “election” process in this country and made it a laughingstock. Our re-election rates are higher than the Soviet Politburo’s while polls show single digit approval ratings. Noe that is “fair”.

But if they rob foreigners, they do not have to loan them any more money. That they care about. Just not paying for healthcare. And these people brag about “values”. Al Capone had better values.

Now that the medicine has been defined and provided, maybe Americans will be smart enough to hold their nose and swallow it. It’s harder and harder to “kick the can down the road” now that we’re financially under water and heading ever deeper!