$16 trillion fucking dollars in debt??

[Freemason9]

Re-elect?

Hell - this fucker Obama should be arrested and brought to trial....

But you idiot "Ass Sniffers," keep voting for this clown.....



$16,015,769,788,215.80 | The Weekly Standard

Uh . . . you DO understand that a capitalist economy can only function when the economy is expanding, correct? And, you DO understand how the money supply is expanded in this country, right? Through issuance of new debt.

What? You didn't know that?

Well . . . I suppose that explains a lot about your posts, then.

 

[Freemason9]

Certainly lowering taxes and starting two never ending wars cannot account for our being in debt. Must be another reason? Maybe, teacher unions, elderly and disabled trying to vote, not wearing flag pins in our lapels?

The last time we ran a surplus (the end of Clinton's term), the money supply tightened; interest rates skyrocketed, and we went into a recession. Just sayin'.

 

[expat_panama]

...understand how the money supply is expanded in this country, right? Through issuance of new debt....

Just so you know, the last few years we had an annual budget surplus, the money supply increased by a half trillion per year, the GDP soared, and unemployment was under 6%.

 

[expat_panama]

...The last time we ran a surplus (the end of Clinton's term), the money supply tightened; interest rates skyrocketed, and we went into a recession. Just sayin'.

No that's not what happened. Let's look at the actual numbers together.

The deficit shrank and the surplus grew continuously from '95 to 2000, and it wasn't until 2001 that restraint was set aside that the money supply fell and the recession began.

Note that Obama's arrival in Washington began the severe spending spree that brought in the current crisis. We may have different opinions on what caused what, but sane people should be able to see together what is and what isn't.

 

[expat_panama]

Liberals are not interested in a balanced budget...

Sure they are. Here's Obama saying $9T debt was "unpatriotic"...
[ame=http://www.youtube.com/watch?v=1kuTG19Cu_Q&feature=channel&list=UL]Obama says adding $4 trillion to debt is unpatriotic. - YouTube[/ame]

 

[Katzndogz]

The interest is ten billion dollars a week. We are now borrowing money to pay the interest. obama intends to ask for a trillion dollar stimulus in his next term and will bring the debt up to 26 trillion dollars if he can. IF he can, because no one may lend to us. We'll be Greece, but without anyone to beg.

 

[Wolfmoon]

With all the weather related problems they'll be a shortage of food. Groceries and gas will skyrocket across the nation and Rome is set to burn. The good news is... I'm thinking... OK, the brown outs will be delayed and we'll be the best dressed Third World Nation in the world.

I hope everyone has their guns and ammo well stocked because you’ll need them to keep the looters from stealing you blind.

.

 

[Douger]

Re-elect?

Hell - this fucker Obama should be arrested and brought to trial....

But you idiot "Ass Sniffers," keep voting for this clown.....



$16,015,769,788,215.80 | The Weekly Standard

Quit worrying Worrier. The debt is big enough to take care of itself.

 

[EdwardBaiamonte]

Certainly lowering taxes and starting two never ending wars cannot account for our being in debt. Must be another reason? Maybe, teacher unions, elderly and disabled trying to vote, not wearing flag pins in our lapels?

dear, the wars were a trillion each over 5 years, and the tax cuts another trillion over 10 years. Thats 3 trillion out of $16 trillion heading to $25 billion under Barry!!

 

[expat_panama]

The interest is ten billion dollars a week...

No, it's about four billion dollars a week and that's down from the $5B/week in '08.

Then again, that was back when T-bill interest rates were about 50 times what they are today. That means when rates go back up to where they were in '08 we'll be paying more like a quarter of a trillion in interest every week.

This is serious. When rates go back up to '08 levels the gov't will be paying over eleven trillion dollars in interest annually.


Anyway you look at it, democrats are nucking futs.

 

[EdwardBaiamonte]

The interest is ten billion dollars a week...

No, it's about four billion dollars a week and that's down from the $5B/week in '08.

Then again, that was back when T-bill interest rates were about 50 times what they are today. That means when rates go back up to where they were in '08 we'll be paying more like a quarter of a trillion in interest every week.

This is serious. When rates go back up to '08 levels the gov't will be paying over eleven trillion dollars in interest annually.


Anyway you look at it, democrats are nucking futs.

when rates go up the Fed will have to print money and then the end game will start.

 

[TakeAStepBack]

The interest is ten billion dollars a week...

No, it's about four billion dollars a week and that's down from the $5B/week in '08.

Then again, that was back when T-bill interest rates were about 50 times what they are today. That means when rates go back up to where they were in '08 we'll be paying more like a quarter of a trillion in interest every week.

This is serious. When rates go back up to '08 levels the gov't will be paying over eleven trillion dollars in interest annually.


Anyway you look at it, democrats are nucking futs.

when rates go up the Fed will have to print money and then the end game will start.

Not necessarily and probably not the likely next step. What will happen is the federal government will default on its payments. That means any promise of payment they have, military salary, public worker salary, pensions, SS, medicare, welfare, etc...will all stop being paid out. Probably in increments.

Then the protectionist measures will begin. Extreme taxation on those who hold asset or wealth. Or perhaps the outright confiscation. These things will be used as collateral against the printing of money to pay foreign debts.

Many scenarios can unfold, but the shit storm is coming down the pike one way or another.

 

[TakeAStepBack]

Oh, and the rates will never go back up. They can't or the long end of the flow curve turns negative.

 

[JQPublic1]

Does anyone have the figures on the annual costs of a peacetime government?

Do we really need to have military bases all over the world protecting liberty abroad while it is eroding here at home?

 

[Rozman]

Well one day this administration will finally have to acknowledge this.
Their response will be it's Bush's fault.
The media will nod in agreement and then Obama will go on Jimmy Fallon
or the tonight show and everyone will kiss his ass,and nothing will be done.

 

[expat_panama]

... When rates go back up to '08 levels the gov't will be paying over eleven trillion dollars in interest annually...

when rates go up the Fed will have to print money and then the end game will start.

...the federal government will default on its payments...

Let's think a sec. America's been in far worse straits --say like in Geo. Washington's time-- and never NEVER defaulted.

...Extreme taxation ... ...to pay foreign debts...

In the first place, most US tax rates are already maxed out. Corp taxes (fer instance) are the highest in the G7. In the second place, most treasury debt is owed to Americans.

...coming down the pike one way or another.

Absolutely, and it's time to think out of the box and come up with some brand new idea that nobody but nobody's ever tried of before. Something revolutionary. Something nobody's even ever imagined yet.

Something like, oh I don't know,

how about CUTTING SPENDING!! ​

 

[tjvh]

Does anyone have the figures on the annual costs of a peacetime government?

Do we really need to have military bases all over the world protecting liberty abroad while it is eroding here at home?

Does anyone have the figures on the annual costs of mental illness?

 

[expat_panama]

Does anyone have the figures on the annual costs of a peacetime government? Do we really need to have military bases all over the world...

Does anyone have the figures on the annual costs of mental illness?

It's a fair question because what we all know is that spending cuts are the only solution to this problem of public debt. The White House' OMB has the answer here, and the plan is in fact to cut defense by half over the next five years. Unfortunately while this may help foreign attackers, it won't help the budget because--

--defense was already gutted years ago. By now most people are on to the fact that any real savings has to be done by cutting that 'Human Resource' spending.

 

[EdwardBaiamonte]

when rates go up the Fed will have to print money and then the end game will start.

...the federal government will default on its payments...

Let's think a sec. America's been in far worse straits --say like in Geo. Washington's time-- and never NEVER defaulted.

...Extreme taxation ... ...to pay foreign debts...

In the first place, most US tax rates are already maxed out. Corp taxes (fer instance) are the highest in the G7. In the second place, most treasury debt is owed to Americans.

...coming down the pike one way or another.

Absolutely, and it's time to think out of the box and come up with some brand new idea that nobody but nobody's ever tried of before. Something revolutionary. Something nobody's even ever imagined yet.

Something like, oh I don't know,

how about CUTTING SPENDING!! ​

or just caping it until the debt is 100% gone!! Make them all struggle along with just $4 trillion a year!!

 

[Rshermr]

FACT: Thanks to Obama's socialist redistributionism and crushing big government, we've had 42 consecutive months of 8 percent plus unemployment, the longest stretch of such high unemployment since the Great Depression.
FACT: OF COURSE unemployment is the highest since the Great Depression, because the biggest recession since the Great Depression this country has gone through OCCURRED in 2007/2008, before President Obama began as President....one can only deal with what they were dealt. A new President can not just twitch their nose like bewitched and make all that occurred before they took office go away.

FACT: Obama has led an unprecedented spending blowout, giving us $1 trillion plus deficits for a record four years in a row.
FACT: Obama did NOT blow out spending nor did he begin the trillion dollar deficits. FACT: He has increased spending less than any other president in decades. FACT: President Bush's last fiscal year created 1.4 trillion dollar running deficit. FACT: President Obama's actions that he took when he first came in to office, accounted for only $150-200 billion of that $1.4 trillion in president bush's last fiscal year....before his first budget which began October 1, 2009 for fiscal year 2010. FACT: No President starts at zero on deficits, they begin with what they were left with by the previous president, and work from there to reduce the deficit or increase the deficit. President Bush began with a 200 billion dollar surplus, left to him by President Clinton's era of Presidency....When President Bush last fiscal year was completed we had 11.8 TRILLION in Total National Debt, under his 2 terms the total National Debt rose by $6 TRILLION Dollars due to his increased spending like there was no tomorrow, on unfunded legislation while giving tax cuts.

FACT: Thanks to the Obama spending blowout, our national debt is scheduled to slam into $16 TRILLION by the end of the week.
FACT: Once again, Obama has increased spending LESS THAN any President in decades. We had a running deficit of $1.4 trillion, left to him by the Bush reign, when he took office.

FACT: Our debt was downgraded for the first time ever.
FACT: Our downgrade occurred due to the actions of REPUBLICANS in Congress, not Obama.

FACT: Economic growth is anemic to non-existent.
FACT: The Dow Jones had crashed to around 6500 before Mr. Obama was President, it is now at the 13,000 range.

FACT: Senate Democrats have not produced a budget in over 1200 days. Obama's budgets have been so outrageously over-the-top unaffordable that they've gotten ZERO votes in Congress. That would be ZERO votes.
FACT: President Obama has presented a budget each and every year. His Budgets were not voted on due to political posturing from the Right wing and the left wing.

FACT: The number of people on food stamps and other social welfare programs is at record highs.
FACT: Of course there are....we have lots of people unemployed after the biggest housing bubble burst, bank crisis, and stock market fall since the great depression, that took place in 2008, before Obama took office.

FACT: The president is a socialist who INTENDS all of these policies and their consequences .
FACT: Have no idea what you are talking about here?

Obama

Where in the world did you get all of these non existent facts of yours?

You are posting actual facts. Proveable facts. Nova78 is not into facts. He is a conservative attack dog. He strictly posts dogma. And he has lots and lots and lots of time. Odd, eh.