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United States loses AAA credit rating from S&P

reuters.com

491–500 of 518 posts

Re: United States loses AAA credit rating from S&P

#491
post #244

Earlier quoted context omitted.

A hospital's margins are only 1-2%? Do you have a source for that? Maybe they can pull that off by paying themselves all the profits, but there's no way that I buy that hospitals have thinner margins than grocery stores before that. Hospital administrators are very well off on average. Their fees are way too large to be running so close to the wire, given their expenses.

I was curious about this, so I searched around a bit. This is the most recent I found -- a median of 3.1 percent: http://www.reuters.com/article/2009/08/19/us-hospitals-usa-i...

Interesting. I wonder how much of their operating expense is due to administrator salaries. A breakdown of expenses throughout hospitals and the health system would be really fascinating to see, and could probably shed light on potential solutions.

Re: United States loses AAA credit rating from S&P

#492
post #291

Earlier quoted context omitted.

There has been a complete lack of leadership from the Congressional Democrats on this issue. They haven't produced a budget plan in nearly three years, while borrowing 40 cents of every dollar spent during that time. Uh, you are merely parroting inaccurate GOP talking points, and I think we can be a little more accurate than that here. First of all, the House and Senate easily passed Obama’s first budget on the presi…

The Democrats controlled the Senate, the House and the White House until a lot were booted out of the House. They still control the Senate and the White House and yet the S&P downgrade in your mind is due to the Republicans?

House republicans threatened to force a default, which is clearly the reason for the downgrade. Read the quote in the first post of the thread.

Re: United States loses AAA credit rating from S&P

#493

Earlier quoted context omitted.

I strongly disagree that retirement accounts should be mandated by the government. If people won't save for retirement, they should understand that the government can't help them. This philosophy that the peon is too stupid and/or undisciplined to manage his own accounts and that the government must protect him from himself is what gets us into huge messes like this in the first place.

I understand this point of view, but at the end of the day, government policy needs to be based on what's going to work out the best for the public. It perhaps goes without saying that there are more than two approaches, but yours is one that I think we can rule out logically. Psychologically, does it work? In general, if you tell a 22-year-old that in 40-something years he's going to really need some of the money he…

And whose idea of "best" do we use? The government is about ensuring a framework of freedom for its citizens to operate within, and if the citizenry refuses to be productive or healthy there's nothing the government can do about it.

Do you support alcohol prohibition? Alcohol leads to much more damage than even smoking from an emotional and psychological perspective.

What if, one day, the government decides that people who buy Japanese cars are a danger to themselves since they are costing the American car companies so much money by refusing to buy home-grown goods? The people just don't have the foresight to understand that buying Honda today means depression throughout Michigan tomorrow. Shouldn't we protect people from that eventuality by ensuring that they only buy domestic vehicles?

How far do we take this? Why do we believe that the politicians have such a heightened sense of foresight and such impeccably unselfish motives? I don't vote for people so they can do my thinking for me, I vote for people who I think will best represent important core principles, like retaining individual free exercise of conscience (like the choice to buy American or foreign cars, even if it will cost Michigan a lot of jobs).

The attitude that we need the government to protect us from our own decisions is in fact extremely dangerous and insidious. Old people survived for thousands of years before the implementation of social security -- if the industrial society doesn't support old people well enough, we have to tweak it so that these things work instead of doing these grotesque hacks of taking > 10% of an average person's salary every year to pay to support your grandpa's RV tour of the US.

Re: United States loses AAA credit rating from S&P

#494
post #52

(Reference: http://www.federalbudget.com/ ) Steps to recovery: 1) End all offensive military actions overseas. Finish winding down Iraq and abandon Afghanistan wholesale. These actions have cost several trillion dollars over the last 10 years. We can't get that money back, but we can stop spending more. 2) Defense spending is in the top 3 highest budget expenditures. Cut it by 1 third across the board. Maintain impor…

You sound like Ron Paul. http://en.wikipedia.org/wiki/Political_positions_of_Ron_Paul

Re: United States loses AAA credit rating from S&P

#495

Earlier quoted context omitted.

> I also remember stories from my mom's family of 7 kids growing up poor in Rochester, NY in the post-war era. Perhaps I've inherited an attitude of bite-down and deal with reality from their history. I have not much to add to your excellent comments, I just wanted to give you a heads-up. I grew up in a former Eastern-European country, and my childhood and teenage years were very much marked by the economic collapse…

Russia failed because communism failed. America doesn't need a weak military it needs a strong, positive leader.

America will fail because kapitalism fails. At least the forms of kapitalism we have knowdays.

Re: United States loses AAA credit rating from S&P

#496

Earlier quoted context omitted.

While I'm an avid supporter of space exploration, it is not the cure for our economic stagnation. Much better are infrastructure improvements: replacing aging bridges, high speed rail, high speed communications, electrical transmission lines. Better to support solar, wind and nuclear energy than to wage wars in the middle east.

A concerted national effort on removing our dependence on foreign energy resources would be a beneficial way to target our resources for the next 30 years or so. You missed my point. Sure, space exploration won't cure our economic stagnation in the 1 to 30 years time frame. But it will decide if we are a first, second, or third-rate power in the next 100 years.

I think it will take more more then 100 years but I agree generaly agreed.

Re: United States loses AAA credit rating from S&P

#497
post #52

(Reference: http://www.federalbudget.com/ ) Steps to recovery: 1) End all offensive military actions overseas. Finish winding down Iraq and abandon Afghanistan wholesale. These actions have cost several trillion dollars over the last 10 years. We can't get that money back, but we can stop spending more. 2) Defense spending is in the top 3 highest budget expenditures. Cut it by 1 third across the board. Maintain impor…

3. The Healthcare System is interesting. The US simply pay a lot more than all other industrialized nations (and still everyone isn't covered). These two graphs are quite telling: http://www.rwjf.org/images/pr/thumbs/full/45110.jpg http://media.economist.com/images/20090627/CBB677.gif I think the problem is manifold, but here are some things that may be problematic (please let me know if you agree or disagree): # Doc…

Intressting, I'm from switzerland :)

In our system you need to have health care insurants. Its alot to pay but as far as I can tell we have one of the best systems and everybody really gets good treatment (my father is a doctor my mother is a nurce and my sister is studying medicin). Witch seams not to be the case in america (I watched Sicko, other then that I have know knowlage).

I can only compaire to some other europen countreys but when you get hurt in italy for example the first rule is to get to switzerland as fast as possible.

Re: United States loses AAA credit rating from S&P

#498

Earlier quoted context omitted.

First, you're right, both parties have diverted Social Security surpluses. But only one party -- the GOP -- is trying to avoid paying it back, using the SS deficit as a tool to dismantle or alter the program. Second, that doesn't change the social contract we have with people who have spent their entire lives paying out up to $6000 a year in wages to the fund. Third, yes, while baby boomers retire, it will run a defi…

How, exactly, do you propose "paying it back"? Social Security is already a TERRIBLE deal for current workers. The only options are to either limit benefits to retirees, who are already getting more than they paid in (payroll taxes are higher now than they were before 1983), or to make Social Security an even worse deal by taxing current workers even more.

Right now FICA taxes are limited to the first 100k (ish) of pay. Increase that, or remove the cap altogether.

Just to be clear -- that would effect me, so I'm not advocating for others to pay the price.

Re: United States loses AAA credit rating from S&P

#499

Earlier quoted context omitted.

Theoretically , this problem can easily be solved: keep sending them paychecks. At least, they could be working on something productive like finding jobs or starting businesses.

Probably most would not start businesses or seriously seek employment with a steady paycheck unfortunately.

[citation needed]

Re: United States loses AAA credit rating from S&P

#500

Earlier quoted context omitted.

You're more liberal than conservative. I'm more conservative than liberal. Bless your heart, I agree with all of your points. At the end of the Cold War, other conservatives were making the same noises that you're making now. For their pains, their careers were destroyed by the people who run the current mainstream conservative movement. Let's take a look at those points of yours. Points 1 & 2. Cut defense spending a…

It really is depressing realizing that the only changes we can viably make to those three great leeches is to allocate even more money to them.

your choice of words suggests that you're a follower of thoroughly-discredited pseudophilosopher ayn rand, and as a consequence i strongly encourage you to read:

http://aynrandcontrahumannature.blogspot.com/

and not skim and look to argue. read charitably and see if you can still buy into her ideas, after reading some articulate people dissecting them (and seeing rand's defenders try and fail to defend via the comments sections).

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