$100 Trillion Mystery Solved

[grasslands]

Some companies take $5 billion loans. Some companies take $10 billion loans and so on....Same story worldwide.

Majority of giant investment companies and fortune 500 companies are located in USA.

Basically a credit card is a higher interest loan. There are home loans, car loans, and virtually any loan you can think of.

USA government has a bad habit of getting involved in other countries.

Credit, credit, credit, credit, credit.....Loans, loans, loans, loans, loans......

USA debts have reached $100 Trillion according to Bill Gross, Head of PIMCO, the $1.2 Trillion money manager.

Correct me if I am wrong?

How can "debt buried company", "debt buried country", "debt buried person" be rich? They are basically poor.

But "debt buried person" have multi-million dollar mansion, expensive cars, rich life. They known as rich and high profile people in world society. Highly surprisng.

$100 Trillion Mystery Solved - Political Forum

 

[Moonglow]

we are rich in debt.

 

[grasslands]

we are rich in debt.

Estimated $200 million dues not paid to oil firms

Private carriers Jet Airways and Kingfisher owed over Rs 1,050 crore to the public sector oil marketing companies (OMCs) like Indian Oil, HPCL and BPCL towards the payment of jet-fuel bills as on November 15, Parliament was informed today.

"As on November 15, major private airlines Jet Airways and Kingfisher Airlines owed Rs 642.37 crore and Rs 417.10 crore, respectively, to the oil marketing companies (OMC)," Civil Aviation Minister Praful Patel said in a written reply to the Lok Sabha.

Jet, Kingfisher have not paid Rs 1,050-cr dues to oil firms

The owners of these private airlines are rich and famous people but they cannot pay dues to oil companies for the oil they purchased for their planes.

 

[grasslands]

$16 Trillion Will Cut How Many USA Jobs

USA needs to cut $16 Trillion over 10 years to balance the budget. Is this true?

That comes to $1.6 Trillion every year. How many jobs will be lost in USA?

$4 trillion over 10 years is a joke. The best way to save jobs is to reduced the salaries of high paid employees by 50%.

Salaries of government people such as federal reserve and bankers should be reduced by 90%.

USA cannot spend more money unless debts have been repaid or replaced by real money.

This means every year there will be $1.6 Trillion less spending from USA. Reduce pay, reduce benefits, and reduce retirement plans and job loss means less income for USA people. Less income means less sales and less profits for private and public sector companies.

So there will be job-loss in private sectors and public sectors.

How will companies pay taxes when there is less profits or no profits?

How will people pay taxes when there is reduction is salaries/wages and job-loss?

Basically Tax collection for USA government will fall to its lowest level. Thanks to who?

Withdraw and take back presidential plane Air force one and 412 limousines from Obama and his clowns.

Withdraw USA army from Afghanistan immediately and end the war.

Everybody is welcome to post their suggestions here to save USA jobs and cut $16 Trillion to balance the budget.

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House Republican budget negotiators have abandoned plans to pursue a massive $4 trillion, 10-year deficit reduction package in the face of stiff Republican opposition to any plan that would increase taxes as part of the deal.

House Speaker John Boehner informed President Barack Obama on Saturday that a smaller agreement of about $2 trillion was more realistic.

Boehner: Big deficit deal won't work - politics - White House - msnbc.com

 

[grasslands]

Since striking workers were paid benefits by the state, much additional currency was printed, fueling a period of hyperinflation. The 1920s German inflation started when Germany had no goods with which to trade. The government printed money to deal with the crisis; this allowed Germany to pay war loans and reparations with worthless marks, and helped formerly great industrialists to pay back their own loans. This also led to pay raises for workers and for businessmen who wanted to profit from it. Circulation of money rocketed, and soon the Germans discovered their money was worthless. The value of the Papiermark had declined from 4.2 per US dollar at the outbreak of World War I to 1 million per dollar by August 1923. This led to further criticism of the Republic. On 15 November 1923, a new currency, the Rentenmark, was introduced at the rate of 1 trillion (1,000,000,000,000) Papiermark for one Rentenmark, an action known as a monetary reset. At that time, one U.S. dollar was equal to 4.2 Rentenmark. Reparation payments resumed, and the Ruhr was returned to Germany under the Locarno Pact, which defined a border between Germany, France and Belgium.n payments resumed, and the Ruhr was returned to Germany under the Locarno Pact, which defined a border between Germany, France and Belgium.

Weimar Republic - Wikipedia, the free encyclopedia

 

[grasslands]

Somebody has given me this information. Please confirm this.

In 2007, when the economy was still doing fine, The Federal Govt took in $2,568 TRILLION in revenue and we spent $2,629 trillion for a deficit of $161 billion.

Now a mere 4 years later, we are spending $3.7 TRILLION while taking in only $2.1 trillion. For a deficit of $1.6 Trillion. OR 10 times the deficit of FOUR YEARS AGO. Who knew that Bush would be "the good old days?" Revenue is down because the economy is down. spending is up because we have a Socialist, Giant Government believing president in the White House and a Democratic Congress that loves to spend other peoples money. Now the face of Congress is changing. If the government would get out of the way of business and SHOW business that the government wants them to do well. Mainly by reducing regulations on business and taxes on business since the taxes in the USA between Federal and States are the highest of any nation in the world. Then business could and would begin to expand. And TAXES on the rich and everyone else were exactly the same in 2007 as they were in 2010. Now since obama and the Democrats extended and increased to tax cuts, taxes are lower NOW than they were in Bush's time. Individual taxes, not business taxes.

So if we could get spending back to where it was in 2007 and get revenue just $200 billion above where it was in 2007, we would HAVE a balanced budget.

 

[Steelplate]

You are wrong. A balanced budget has nothing to do with the National Debt, and everything to do with budget deficits.

Think of it this way.... your budget for the year... is say. 50k. You end up spending 58k. you ran an 8k deficit.

Your debt is everything you owe... car, home, credit cards, etc... let's suppose with all your outstanding debt equals... 128k...(including the 8k you went over the budget this year). 100K(house), 20K(Car), and 8k in Credit card charges because you remodeled something.

A balanced budget would mean that if you earned 50k, you spent 50k. Which really has nothing to do with your debt... which gets paid off over time.

BTW... who said that the entire debt has to be paid off in 10 years. People that own 100k homes usually get a 30 year loan(depending on their income). Pay it off over time. I'm not saying kick the can down the road like we've been doing. I mean make an actual commitment to pay it off. Even if it takes 40-50 years to do it... it's no skin off our noses.. because while a PERSON may only live to 80 years old... a country isn't subject to the same mortality as a human being.

Personally... I'd rather see an honest commitment to reducing the debt and to make it as painless as possible, spread it out for a longer period of time. There's no reason at all that people have to suffer to do this, other than opinion and ideology. Which neither is nearly as important as getting it done right.

 

[ShackledNation]

You are wrong. A balanced budget has nothing to do with the National Debt, and everything to do with budget deficits.

Think of it this way.... your budget for the year... is say. 50k. You end up spending 58k. you ran an 8k deficit.

Your debt is everything you owe... car, home, credit cards, etc... let's suppose with all your outstanding debt equals... 128k...(including the 8k you went over the budget this year). 100K(house), 20K(Car), and 8k in Credit card charges because you remodeled something.

A balanced budget would mean that if you earned 50k, you spent 50k. Which really has nothing to do with your debt... which gets paid off over time.

BTW... who said that the entire debt has to be paid off in 10 years. People that own 100k homes usually get a 30 year loan(depending on their income). Pay it off over time. I'm not saying kick the can down the road like we've been doing. I mean make an actual commitment to pay it off. Even if it takes 40-50 years to do it... it's no skin off our noses.. because while a PERSON may only live to 80 years old... a country isn't subject to the same mortality as a human being.

Personally... I'd rather see an honest commitment to reducing the debt and to make it as painless as possible, spread it out for a longer period of time. There's no reason at all that people have to suffer to do this, other than opinion and ideology. Which neither is nearly as important as getting it done right.

Normally you make the commitment to pay it off before going into debt, not a decades after.