Re: The 112th Congress: Debt ceiling edition
OK...my only microscopic research shows that the least amount of cuts in your plan would come from the military and much of the cuts from 'everything else'. Beyond that my gut tells me:
Initially there would be declines in standards of living...as garbage disposal, police, road repairs and organizations like the FAA are scaled back significantly. It would take about 5 years to see the national affects of brain drain and job losses going overseas to cuts in education and other supports for science and students.
As a result, this large stream of underemployed would join our existing lower income having few prospects with little or no organized retraining opportunities. Much of this deriorating group and larger families would probably end up on the streets as they would be liable for huge tax increases...and its doubtful that Bill Gates would come through for all. Although there would be few or no public 'expenses' for this group, the fact that they are now 100% unemployed would be a big blow to the country's tax revenue...resulting in a downward spiral as revenue declines dictate declines in societal investment. This is the polar opposite approach IMO of Minnesota.
The economy and a connected deficit are the biggest challenges this country face...but personally, I don't see how this proposal positions the country for a hypercompetitive future.
OK...my only microscopic research shows that the least amount of cuts in your plan would come from the military and much of the cuts from 'everything else'. Beyond that my gut tells me:
Initially there would be declines in standards of living...as garbage disposal, police, road repairs and organizations like the FAA are scaled back significantly. It would take about 5 years to see the national affects of brain drain and job losses going overseas to cuts in education and other supports for science and students.
As a result, this large stream of underemployed would join our existing lower income having few prospects with little or no organized retraining opportunities. Much of this deriorating group and larger families would probably end up on the streets as they would be liable for huge tax increases...and its doubtful that Bill Gates would come through for all. Although there would be few or no public 'expenses' for this group, the fact that they are now 100% unemployed would be a big blow to the country's tax revenue...resulting in a downward spiral as revenue declines dictate declines in societal investment. This is the polar opposite approach IMO of Minnesota.
The economy and a connected deficit are the biggest challenges this country face...but personally, I don't see how this proposal positions the country for a hypercompetitive future.
Last edited:
.