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View Full Version : Stossel Show - You Owe 200,000$ To The Fed!



qwerty
12-05-2010, 02:02 PM
YouTube - Stossel Show - You Owe 200,000$ To The Fed! (Part 1/4) (http://www.youtube.com/watch?v=k7xxE85_OKs&feature=&p=201B76260B8A6591&index=0&playnext=1)
Zippyjuan
12-05-2010, 10:35 PM
A lot of good points in the piece. A couple small points. One is that the debt is not owed to the Fed but to all Treasury bond holders- the Fed currently holds about five and a half percent of the current debt. I also disagree that "all older Americans are rich" claim- which is then followed by citing the richest man in the country Bill Gates as an example. Mr Gates does not represent the average anything in this country. The $200,000 per person figure is extrapolating figures out over 75 years- most of the people reading this will not even be alive then.

He and his guests are absolutely right that you have to look at entitlements and that proposed freezes or cuts so far really do nothing to reduce the debt- either now or in the future. Even if you allow the Bush tax cuts to expire they will "reduce" the deficit by an estimated $700 billion over ten years- that comes to $70 billion a year which is small pennies when you are talking some $1.3 trillion in deficits for this year alone. You cannot do it only with "savings from cutting wast, cutting foreign aid and freezing wages". You cannot only do it with taxes- the deficit for this year will exceed the total income taxes collected this year so doubling income taxes alone will not give you a balanced budget.
qwerty
12-06-2010, 01:19 AM
Bump! :)
SLSteven
12-06-2010, 01:37 AM
YouTube - Stossel Show - You Owe 200,000$ To The Fed! (Part 2/4) (http://www.youtube.com/watch?v=hukyOdoa0Bs)

YouTube - Stossel Show - You Owe 200,000$ To The Fed! (Part 3/4) (http://www.youtube.com/watch?v=dqsvCallmL8)

YouTube - Stossel Show - You Owe 200,000$ To The Fed! (Part 4/4) (http://www.youtube.com/watch?v=WQAYXGo1nNo)
qwerty
12-07-2010, 02:17 AM
Bump!!! :)
IPSecure
12-07-2010, 02:28 AM
"No politician has offered specifics in what to cut..."

Stossel mentions this twice, the second time he adds, "except maybe Paul Ryan."

WTF?
Brett
12-07-2010, 02:33 AM
"No politician has offered specifics in what to cut..."

Stossel mentions this twice, the second time he adds, "except maybe Paul Ryan."

WTF?

Paul supports every cut, if he tried to list everything he wanted to cut he'd never finish. Paul Ryan has laid out a few cuts specifically in his plan a Roadmap for America or whatever it's called.