Common Sense and Our Dangerous National Debt

[Manonthestreet]

you ran a trillion dollar deficit last yr too. You dont pile up 8 trillion in debt in 6 yrs by running "lower" deficits

 

[Siete]

The debt ceiling has been raised 74 times since March 1962, including 18 times under Ronald Reagan, eight times under Bill Clinton, seven times under George W. Bush, and five times under Barack Obama.

• History of United States debt ceiling

yaaaaaaaaaaaawn.

DANGER DANGER DANGER !!!

not one swinging dick politician does a damn thing but talk. When and IF they ever decide to reduce the debt I'll pay attention to the debt. Until then I'll be forced to listen to the fear mongers bitch about the debt.

please continue ..

 

[Decus]

The New York Times recently ran an article regarding the CBO's budget deficit projections which underlines that the reduction will be short-lived. Politicians have known this for quite awhile but little effort has been given to addressing the problem:

"Then it is projected to rise steadily, to $489 billion in 2017 and $953 billion by 2023. By 2025, the annual deficit will be back over $1 trillion. The budget office forecasts that under current policy, the government will add $7.6 trillion to the $18 trillion federal debt over the coming decade."

"“Such large and growing federal debt would have serious negative consequences, including increasing federal spending for interest payments, restraining economic growth in the long term, giving policy makers less flexibility to respond to unexpected challenges and eventually heightening the risk of a fiscal crisis,” the budget office said."

http://www.nytimes.com/2015/01/27/u...o-steep-declines-in-federal-deficit.html?_r=0

Trying to paint Obama as some kind of hero in the effort to curtail spending is really too funny.

 

[Manonthestreet]

Debt to the Penny Daily History Search Application

Deficit was over trillion last yr..........

 

[Siete]

The New York Times recently ran an article regarding the CBO's budget deficit projections which underlines that the reduction will be short-lived. Politicians have known this for quite awhile but little effort has been given to addressing the problem:

"Then it is projected to rise steadily, to $489 billion in 2017 and $953 billion by 2023. By 2025, the annual deficit will be back over $1 trillion. The budget office forecasts that under current policy, the government will add $7.6 trillion to the $18 trillion federal debt over the coming decade."

"“Such large and growing federal debt would have serious negative consequences, including increasing federal spending for interest payments, restraining economic growth in the long term, giving policy makers less flexibility to respond to unexpected challenges and eventually heightening the risk of a fiscal crisis,” the budget office said."

http://www.nytimes.com/2015/01/27/u...o-steep-declines-in-federal-deficit.html?_r=0

Trying to paint Obama as some kind of hero in the effort to curtail spending is really too funny.

politicains heros? now that's funny !

taxpayers are dumbasses for paying Congressmen $173 k a year for fucking us, and not much else.... not even a kiss or lube.

 

[Siete]

Debt to the Penny Daily History Search Application

Deficit was over trillion last yr..........

stop by an elementary school and have some kid tell you about debt and deficit


The final numbers for 2014 announced yesterday by the U.S. Treasury show the federal deficit for the fiscal year that just ended did indeed fall as precipitously as I previously reported. As the report shows, the actual 2014 deficit was $483 billion, $3 billion less than what the Congressional Budget Office estimated a week ago

 

[Manonthestreet]

Yeah thats it.................

 

[jwoodie]

1. Everyone claims to want spending reduced, but no one says how.

2. Raising taxes does not raise revenue.

3. Servicing a $20 trillion national debt is the real problem. At 1% interest, this takes $200 billion per year. At 5%, it will take $1 trillion per year.

4. We must figure out a way to grow the economy without increasing the debt.

Any plausible ideas?

 

[OKTexas]

Stop And Smell The Roses: Final 2014 Federal Deficit Fell...Big Time

Yep it fell, from historic highs. Your dear leader had 3 years of 1 trillion plus out of 5 years.

Recent US Federal Deficit Numbers
Obama Deficits
FY 2015*: $564 bln
FY 2014: $483 bln
FY 2013: $680 bln
FY 2012: $1,087 bln
FY 2011: $1,300 bln
FY 2010: $1,294 bln
Bush Deficits
FY 2009†: $1,413 bln
FY 2008: $458 bln
FY 2007: $161 bln
FY 2006: $248 bln
FY 2005: $318 bln

US Federal Deficit Definition - plus charts and analysis

 

[Moonglow]

Debt? What Debt? thats how Democrats see it, they dont care so long as they can buy 2nd/3rd homes and expensive cars on that borrowed money. right?

I went for another wife....

 

[Moonglow]

1. Everyone claims to want spending reduced, but no one says how.

2. Raising taxes does not raise revenue.

3. Servicing a $20 trillion national debt is the real problem. At 1% interest, this takes $200 billion per year. At 5%, it will take $1 trillion per year.

4. We must figure out a way to grow the economy without increasing the debt.

Any plausible ideas?

legalize weed....

 

[Rexx Taylor]

why dont we just print up about a million 10,000 bills and pay off the debt?

 

[Moonglow]

why dont we just print up about a million 10,000 bills and pay off the debt?

Only if I can do it at home...

 

[jwoodie]

why dont we just print up about a million 10,000 bills and pay off the debt?

That is exactly what we are going to do. And the result will be inflation like we have never seen.

 

[Toddsterpatriot]

Yet Obama and the Democrats continue to want to increase federal spending.

Tell me something. Has the government deficit been going up or down since Obama took office?

If down, how do you come to the conclusion the Democrats want to increase federal spending?


Also, during the 8 years of the Bush Administration, did Republicans increase or decrease federal spending?

If they increased it, how did you arrive at the conclusion that only Democrats increase federal spending?

Democrats: Tax and spend.

Republicans: Borrow and spend.

Tell me something. Has the government deficit been going up or down since Obama took office?

If down, how do you come to the conclusion the Democrats want to increase federal spending?

Has government spending gone up or down since Obama took office?

If up, how do you avoid the conclusion the Democrats want to increase federal spending?

 

[ogibillm]

1. Everyone claims to want spending reduced, but no one says how.

2. Raising taxes does not raise revenue.

well, yes, it does. to a point.

3. Servicing a $20 trillion national debt is the real problem. At 1% interest, this takes $200 billion per year. At 5%, it will take $1 trillion per year.

4. We must figure out a way to grow the economy without increasing the debt.

Any plausible ideas?

 

[Manonthestreet]

 

[Manonthestreet]

 

[Rexx Taylor]

why dont we just print up about a million 10,000 bills and pay off the debt?

Only if I can do it at home...

hey, don't they make printers that print real legal money? can I buy one at Best Buy?

 

[Moonglow]

why dont we just print up about a million 10,000 bills and pay off the debt?

Only if I can do it at home...

hey, don't they make printers that print real legal money? can I buy one at Best Buy?

Sure, the hard part is getting the clothe just right for the bills....