If I read John correctly, the politicans are still bickering and can't get anything done. Once an event like a stock market crash shocks the nation, that will change attitudes of the masses toward spending and debt and those changes will be reflected in the politicians.vincecate wrote:The spending was for military. Once the war was over it was very easy to cut the spending. Now it is nearly impossible to cut 40% of spending.Higgenbotham wrote: These figures were exceeded in the US during World War II. The concern I have is not so much what the debt levels are now. Rather, my concern is that at this point in the generational cycle, a reservoir may be needed that is not there.
edit - I'm reading this morning about more speculation that the US government intends to take control of the $6 trillion or so in 401Ks and IRAs and force those accounts to be invested in US Treasuries. I know that's been rumored for some time. The recent hearings conducted in September were called "Lifetime Options for Retirement Plans". Apparently, it's now being presented as an annuity option. Somewhere I remember reading that the bonds will have a special name and pay 3% interest.