Callers, John and Josh discuss the state of the U.S. debt situation - this following a video seen, and some research done, by Josh regarding what politicians aren't saying about what it would take to balance the federal budget.
I received, in an email, a link to a video allegedly created by Hal Mason, a former accountant/bookkeeper who spent many years with IBM. In the 5:37 video, Hal Mason outlines a dilemma facing the nation - our debt exceeds our GDP. He also illustrates how even if we shut down our entire federal government, we wouldn't be able to balance our budget. What does that mean? That nothing our politicians are saying are feasible solutions to our financial woes. It's going to be painful, and many sacrifices are going to have to be made. But can you imagine if the campaign signs read:
"Elect [enter name]. Fiscal responsibility means raising taxes 50% and failing to follow through completely with promises the federal government has made to the American people in way of pensions, health care, tax breaks, entitlements, free lunches for kids that qualify, market-balancing measures like farm and oil subsidies, tax breaks for small businesses, startup money for agricultural producers and entrepreneurs, tax loopholes, solid infrastructure, perpetual increases in military funding, adequate law enforcement and emergency services, and so on."
It may not be a popular campaign message, but it appears to be the truth. After looking at the data, it appears as though the country's financial woes are at, or near, a boiling point in which it would take a massive increase in revenue and a massive decrease in spending to EVENTUALLY get the problem under control. The country's gross debt is expected to exceed its Gross Domestic Product for the first time since the end of World War II. Point to any one person/party/issue and you've missed the point, in my opinion. This is not a party issue, nor is it an administration/Congressional issue. It is a national issue that crosses every socioeconomic boundary, political affiliation, Congressional delegation, state legislature, city council, etc. Refuse to sacrifice for the greater good of the country and face the consequences of defaulting on debt - two options that aren't popular, and that likely won't make the debates, campaign speeches, or even press conferences...
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Segment 1 - John and Josh open the show:
Segment 2 - Discussion:
Segment 3 - Discussion:
Segment 4 - John and Josh close the show: