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So it begins. A quote: "The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 1

So it begins. A quote: "The outlook on the new U.S. credit rating is negative, S&P said in a statement, a sign that another downgrade is possible in the next 12 to 18 months." I.e., things are going to get a lot worse before they get worse. Time to bring this back to a hacker's perspective. Is there any way to "hack" the system so as to get government finances to within commuting distance of sanity? Or have recent events already answered that question?

aaronbrethorst 15y ago
Letting the Bush tax cuts expire next year, and winding down operations in Iraq and Afghanistan would go a long way to balancing the Federal budget. As far as reducing the deficit goes, I have less insight into this. Except that making the Federal government's budget revenue-neutral is a critical first step.
- onedognight 15y ago
  > would go a long way to balancing the Federal budget > as reducing the deficit goes, I have less insight into this Balancing the budget is exactly reducing the deficit. It's the debt I suspect you have less insight into. Frankly it's an embarrassment that they could only agree lower the deficit by less than 10%. They are a long way from addressing the debt.
  - aaronbrethorst 15y ago
    Yes, you are correct. Long day and I'm confusing terms :)
- mark_l_watson 15y ago
  +1 for that. Expiring the tax cuts and reducing foreign military expenditures is our best option. We have an obligation to keep our current military personel employed but I would rather they be spending their salaries in local businesses here. Military cuts can occur by shutting down foreign bases and drastically reducing the recruitment of new military personel. It would be funny, if it were not so serious: a lot of my conservative friends harp on the need to stay in the middle east, but refuse to pay for it with taxes.
- gte910h 15y ago
  The terms of the debt ceiling deal look like it will force one/the other/both: http://www.editedforclarity.com/2011/08/01/debt-ceiling-deal-the-devil-is-in-the-details/ http://www.editedforclarity.com/2011/08/01/debt-ceiling-deal...
  - BrianLy 15y ago
    I listened to an NPR segment on this topic and it seems like Congress has several ways around doing the things that journalists think can be forced through. I'm an immigrant to the US so this a learning exercise for me, perhaps someone else can explain in more detail.
    - gte910h 15y ago
      I'm guessing "This is just a law. They can of course, just pass a different law that disregards the old laws, as new laws have primacy over old".

aaronbrethorst 15y ago

Letting the Bush tax cuts expire next year, and winding down operations in Iraq and Afghanistan would go a long way to balancing the Federal budget. As far as reducing the deficit goes, I have less insight into this. Except that making the Federal government's budget revenue-neutral is a critical first step.

onedognight 15y ago
> would go a long way to balancing the Federal budget > as reducing the deficit goes, I have less insight into this Balancing the budget is exactly reducing the deficit. It's the debt I suspect you have less insight into. Frankly it's an embarrassment that they could only agree lower the deficit by less than 10%. They are a long way from addressing the debt.
- aaronbrethorst 15y ago
  Yes, you are correct. Long day and I'm confusing terms :)
mark_l_watson 15y ago
+1 for that. Expiring the tax cuts and reducing foreign military expenditures is our best option. We have an obligation to keep our current military personel employed but I would rather they be spending their salaries in local businesses here. Military cuts can occur by shutting down foreign bases and drastically reducing the recruitment of new military personel. It would be funny, if it were not so serious: a lot of my conservative friends harp on the need to stay in the middle east, but refuse to pay for it with taxes.
gte910h 15y ago
The terms of the debt ceiling deal look like it will force one/the other/both: http://www.editedforclarity.com/2011/08/01/debt-ceiling-deal-the-devil-is-in-the-details/ http://www.editedforclarity.com/2011/08/01/debt-ceiling-deal...
- BrianLy 15y ago
  I listened to an NPR segment on this topic and it seems like Congress has several ways around doing the things that journalists think can be forced through. I'm an immigrant to the US so this a learning exercise for me, perhaps someone else can explain in more detail.
  - gte910h 15y ago
    I'm guessing "This is just a law. They can of course, just pass a different law that disregards the old laws, as new laws have primacy over old".