General Question

TheIowaCynic's avatar

What do you think the effects will be of a 1-2 trillion dollar deficit for the next 10 years?

Asked by TheIowaCynic (582points) March 26th, 2009
8 responses
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Answers

Yuchen's avatar

It’ll all be on my shoulders, so don’t worry too much.

TheIowaCynic's avatar

@Yuchen

You’re going to personally pay for it all?

Yuchen's avatar

@TheIowaCynic: hell yeah.

TheIowaCynic's avatar

@Yuchen

OK, well thanks for your thoughtful response. It seems to be the pretty standard outlook of most people supporting this budget.

Yuchen's avatar

@TheIowaCynic: really? That’s weird considering I oppose the budget. I must be a walking contradiction.

Phil's avatar

there are going to be significant changes to entitlement programs, namely medicare/medicaid and social security

TheIowaCynic's avatar

@Phil like what?

Phil's avatar

I’m not too sure on the exact details. Basically, the government is not going to be able to fulfill all of its obligations to these programs. I think it means people will be forced to retire later, significant reform to how the medicare system works/who gets help, and I’m sure tons of other things. More important to note about the fact that we’re running such a huge deficit though is the fact that we’re adding it to an existing 11 trillion dollar national debt. If you are interested in this you should check out I.O.U.S.A, it’s a documentary on the national debt. Pretty scary picture.

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