Government Shutdown: We All Lose
I explained (or tried to) all of this to my soon-to-be 11 year old son who simply didn't get it. Using his allowance, saving, and spending habits as a model, he didn't think he could do what the government does. He can't. And neither can the government.
Representative Ryan shot a missile downrange with his proposal -- slash $6.2 trillion over 10 years. Obama's response? A can of silly string.
I know that we cannot solve this problem by spending cuts alone. It's too late for that and we ignored the sane politician's years ago that warned this day was coming. Some tax increases are in order.
Hey, I know a great place to start. How about General Electric (GE), which made $5 billion in the United States and didn't pay a penny in taxes. Sign me up for that plan.And we all know that "entitlements" are done. Social Security, Medicare/Medicaid, and other third rails must be ripped apart. They're insolvent and everyone seems to know it -- except the president. Firing Line: While a government shutdown will rivet the mainstream media as they froth about who wins and who loses when/if the government shuts down, we on Main Street know the answer. We all lose. And we will, of course, all be at work while the government shuts down.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts