U.S. Debt On Track to Hit $16 Trillion Within Week

[SniperFire]

It matters to you.

It doesnt matter to Romney, Ryan, Obama or Biden.

And that's the delicious point.

It matters to the future of the nation, your children and your grandchildren if it continues at this pace..but nice try.

Tell you what. Give us your credit card number and we will all go on a spending spree...since it doesn't matter and you can seasonlly adjust your debt..down the road.

Just saying...

I can seasonally adjust my debt down the road? What the fuck does that even mean? Debt gets adjusted seasonally?

It gets adjusted for inflation, when comparing two time periods, for accuracy. But anyhoo, ignoring fail points......

You're again here implying that I'm pro debt.

The point again flies over your head.

Here it is again:

in over 60 years....

politicians that told you they were conservative, have come and gone.....

in and out of office......in and out of office..........people lived entire lives....

and magically, none of them so called conservatives lowered the debt.

and here you are, after 60 years, pretending your party cares about the debt.

and you're somehow perplexed that it's being pointed out?

Reagan tripled it.

you re-elected him.

Bush doubled it.

you re-elected him.

Leftist simply don't have the personal integrity to take responsibility for their actions:

'In February 1981 Reagan presented the Economic Tax Recovery Act to Congress, calling for massive personal and corporate tax cuts, reductions in government spending, and a balanced budget.'

The 1982 Recession . Reagan . WGBH American Experience | PBS

 

[G.T.]

It matters to the future of the nation, your children and your grandchildren if it continues at this pace..but nice try.

Tell you what. Give us your credit card number and we will all go on a spending spree...since it doesn't matter and you can seasonlly adjust your debt..down the road.

Just saying...

I can seasonally adjust my debt down the road? What the fuck does that even mean? Debt gets adjusted seasonally?

It gets adjusted for inflation, when comparing two time periods, for accuracy. But anyhoo, ignoring fail points......

You're again here implying that I'm pro debt.

The point again flies over your head.

Here it is again:

in over 60 years....

politicians that told you they were conservative, have come and gone.....

in and out of office......in and out of office..........people lived entire lives....

and magically, none of them so called conservatives lowered the debt.

and here you are, after 60 years, pretending your party cares about the debt.

and you're somehow perplexed that it's being pointed out?

Reagan tripled it.

you re-elected him.

Bush doubled it.

you re-elected him.

Ever think that maybe it's time to STOP reelecting them starting with Obama?

Not perplexed at all. The reality is that I see exactly what you're trying to do...obfusicate!

What I'm trying to do, is get my head around how someone could think that the debt is a partisan issue - when facts, data, voting records and history all prove otherwise.

It's why politics is a poisoned well that most every-day citizens avoid entirely. It's so ripe with dishonesty, spin, Agenda, cynacism and mean spirit, that who wants to bother? Most don't.

 

[G.T.]

It matters to the future of the nation, your children and your grandchildren if it continues at this pace..but nice try.

Tell you what. Give us your credit card number and we will all go on a spending spree...since it doesn't matter and you can seasonlly adjust your debt..down the road.

Just saying...

I can seasonally adjust my debt down the road? What the fuck does that even mean? Debt gets adjusted seasonally?

It gets adjusted for inflation, when comparing two time periods, for accuracy. But anyhoo, ignoring fail points......

You're again here implying that I'm pro debt.

The point again flies over your head.

Here it is again:

in over 60 years....

politicians that told you they were conservative, have come and gone.....

in and out of office......in and out of office..........people lived entire lives....

and magically, none of them so called conservatives lowered the debt.

and here you are, after 60 years, pretending your party cares about the debt.

and you're somehow perplexed that it's being pointed out?

Reagan tripled it.

you re-elected him.

Bush doubled it.

you re-elected him.

Leftist simply don't have the personal integrity to take responsibility for their actions:

'In February 1981 Reagan presented the Economic Tax Recovery Act to Congress, calling for massive personal and corporate tax cuts, reductions in government spending, and a balanced budget.'

The 1982 Recession . Reagan . WGBH American Experience | PBS

Yea, except it wasn't a balanced budget.

 

[SniperFire]

Tax revenues peaked in 2007.

Since then we've had a 1.2 trillion dollars worth of revenue deficit from the 2007 level.

Historical Federal Receipt and Outlay Summary

Direct result of the Bush tax cuts.

Of course, it was quite predictable, as every POTUS who has cut taxes to drive GDP growth and subsequent tax revenues has been successful.

 

[beretta304]

I can seasonally adjust my debt down the road? What the fuck does that even mean? Debt gets adjusted seasonally?

It gets adjusted for inflation, when comparing two time periods, for accuracy. But anyhoo, ignoring fail points......

You're again here implying that I'm pro debt.

The point again flies over your head.

Here it is again:

in over 60 years....

politicians that told you they were conservative, have come and gone.....

in and out of office......in and out of office..........people lived entire lives....

and magically, none of them so called conservatives lowered the debt.

and here you are, after 60 years, pretending your party cares about the debt.

and you're somehow perplexed that it's being pointed out?

Reagan tripled it.

you re-elected him.

Bush doubled it.

you re-elected him.

Ever think that maybe it's time to STOP reelecting them starting with Obama?

Not perplexed at all. The reality is that I see exactly what you're trying to do...obfusicate!

What I'm trying to do, is get my head around how someone could think that the debt is a partisan issue - when facts, data, voting records and history all prove otherwise.

It's why politics is a poisoned well that most every-day citizens avoid entirely. It's so ripe with dishonesty, spin, Agenda, cynacism and mean spirit, that who wants to bother? Most don't.

The point was and still is who ran it up the most. You may feel it doesn't matter and justify it by pointing to past Presidents and who may or may not have voted for them.

The fact reamains that it is a good basis on which to consider not giving Obama 4 more years.

 

[beretta304]

Just so no one thinks I'm ducking out of the thread. I have to go over to the other side of the base. Be back in about 90 minutes. I'll pick up were we left off if this thread is still going.

 

[Sinjorri]

Adjust all Presidents' debt for inflation, and then recalculate for a more honest perception.

Adjusted or unadjusted, it's unsustainable.

According to?

The fact is, the debt has not gone down in over 60 years.

All the Republicans who said that when they get elected they'll be some uber Financially responsible guru, yepp - debt was raised.

People were born.

People died.

Debt never went down.

Let all of those coffins know when they should worry. Until it matters, I'll consider it just a fear-mongering tactic to be used on dupes during elections.

boths sides are to blame and if you think different, well you are the fool which i dont thik you are. both parties need to man up and both parties should get it down. but i blame the people once again because in essence its WE who elect these clowns and its people who fall for the same stupid stuff thinking its going to be different and its not.

 

[beretta304]

Adjusted or unadjusted, it's unsustainable.

According to?

The fact is, the debt has not gone down in over 60 years.

All the Republicans who said that when they get elected they'll be some uber Financially responsible guru, yepp - debt was raised.

People were born.

People died.

Debt never went down.

Let all of those coffins know when they should worry. Until it matters, I'll consider it just a fear-mongering tactic to be used on dupes during elections.

boths sides are to blame and if you think different, well you are the fool which i dont thik you are. both parties need to man up and both parties should get it down. but i blame the people once again because in essence its WE who elect these clowns and its people who fall for the same stupid stuff thinking its going to be different and its not.

I think the difference is that many voters are waking up to that fact and going forward in the future people are going to keep that in mind when voting.

Gotta go..

 

[NYcarbineer]

Tax revenues peaked in 2007.

Since then we've had a 1.2 trillion dollars worth of revenue deficit from the 2007 level.

Historical Federal Receipt and Outlay Summary

Direct result of the Bush tax cuts.

Of course, it was quite predictable, as every POTUS who has cut taxes to drive GDP growth and subsequent tax revenues has been successful.

The Bush tax cuts are still in effect.

What is wrong with you? Five straight years of diminished revenues thanks to tax cut overreach by Bush and the Republicans.

 

[SniperFire]

I can seasonally adjust my debt down the road? What the fuck does that even mean? Debt gets adjusted seasonally?

It gets adjusted for inflation, when comparing two time periods, for accuracy. But anyhoo, ignoring fail points......

You're again here implying that I'm pro debt.

The point again flies over your head.

Here it is again:

in over 60 years....

politicians that told you they were conservative, have come and gone.....

in and out of office......in and out of office..........people lived entire lives....

and magically, none of them so called conservatives lowered the debt.

and here you are, after 60 years, pretending your party cares about the debt.

and you're somehow perplexed that it's being pointed out?

Reagan tripled it.

you re-elected him.

Bush doubled it.

you re-elected him.

Leftist simply don't have the personal integrity to take responsibility for their actions:

'In February 1981 Reagan presented the Economic Tax Recovery Act to Congress, calling for massive personal and corporate tax cuts, reductions in government spending, and a balanced budget.'

The 1982 Recession . Reagan . WGBH American Experience | PBS

Yea, except it wasn't a balanced budget.

Not after Tipp O'Neill delivered a casket to the House floor and declared it 'dead on arrival.'

As you Leftist, you want to simply ignore Tipp O'Neill and the Democrat Congress who shitcanned the Reagan balanced budget plans, don't you?

 

[SniperFire]

Tax revenues peaked in 2007.

Since then we've had a 1.2 trillion dollars worth of revenue deficit from the 2007 level.

Historical Federal Receipt and Outlay Summary

Direct result of the Bush tax cuts.

Of course, it was quite predictable, as every POTUS who has cut taxes to drive GDP growth and subsequent tax revenues has been successful.

The Bush tax cuts are still in effect.

What is wrong with you? Five straight years of diminished revenues thanks to tax cut overreach by Bush and the Republicans.

Not very bright, even for you.

Ever hear of the credit crisis and housing bubble?

 

[P@triot]

Since Obama took office on Jan. 20, 2009, the debt has increased $5,349,641,980,231.06. That is as much as the entire debt accumulated by the United States from the founding of the country in 1776 until Feb. 28, 1997, when President Bill Clinton was in his second term.


Thus, under Obama, the debt has increased more than under all presidents from George Washington through George H.W. Bush combined.


U.S. Debt On Track to Hit $16 Trillion Within Week | CNSNews.com

And to think it was at $9 trillion when Obama took over. Tragic...

 

[NYcarbineer]

Ryan's most recent comment on this is that - best case - the economy roars back when the Leftist jackboot is removed from our necks - and we come back into balance in a decade.


Yes, things are that bad.

Of course, it all depends on vanquishing the Leftists who are hell-bent on realizing the fait accompli of our total fiscal collapse as supported by GT and others upthread.

That pie-in-the-sky free lunch myth has been used by every Republican since Reagan.

There is not enough deregulation in the world that can overcome the fiscal effect of more tax cuts without accompanying budget cuts.

Heck, the Republicans are currently trying to kill the defense cuts they voted FOR a year ago.

Notice how Leftists want to call the Ryan budget a 'pie in the sky free lunch' on one thread, but on the next thread scream about all of the draconian cuts it proposes on the next?

LOL

It's a free lunch for GOP special interests, and a lie that they will really cut anyone else's benefits.

You can't balance the budget by exempting defense and revenues and Medicare and Social Security from the equation. All that's left over to cut are domestic spending programs mostly those that assist low income Americans. They could never get legislation through that would cut that spending by over half, which is what would be required. It's politically impossible. End of story.

The GOP's current 'solution' to the fiscal problem is a fantasy. That is what pie in the sky means.

 

[Sinjorri]

Since Obama took office on Jan. 20, 2009, the debt has increased $5,349,641,980,231.06. That is as much as the entire debt accumulated by the United States from the founding of the country in 1776 until Feb. 28, 1997, when President Bill Clinton was in his second term.


Thus, under Obama, the debt has increased more than under all presidents from George Washington through George H.W. Bush combined.


U.S. Debt On Track to Hit $16 Trillion Within Week | CNSNews.com

And to think it was at $9 trillion when Obama took over. Tragic...

inherited, the dems use the word inherited, Obama had no idea what he was getting into , he was just a black man running for pres looking to take care of people, if you doubt me, watch the videos of people chanting for him and wanting the free gas in their cars.

 

[GreatDay]

Damn shame considering this:

“The most recent projections from OMB and CBO indicate that, if current policies remain in place, the total unified surplus will reach about $800 billion in fiscal year 2010, including an on-budget surplus of almost $500 billion. Moreover, the admittedly quite uncertain long-term budget exercises released by the CBO last October maintain an implicit on-budget surplus under baseline assumptions well past 2030 despite the budgetary pressures from the aging of the baby-boom generation, especially on the major health programs.
These most recent projections, granted their tentativeness, nonetheless make clear that the highly desirable goal of paying off the federal debt is in reach and, indeed, would occur well before the end of the decade under baseline assumptions. This is in marked contrast to the perception of a year ago, when the elimination of the debt did not appear likely until the next decade. But continuing to run surpluses beyond the point at which we reach zero or near-zero federal debt brings to center stage the critical longer-term fiscal policy issue of whether the federal government should accumulate large quantities of private (more technically, nonfederal) assets.
At zero debt, the continuing unified budget surpluses now projected under current law imply a major accumulation of private assets by the federal government. Such an accumulation would make the federal government a significant factor in our nation's capital markets and would risk significant distortion in the allocation of capital to its most productive uses. Such a distortion could be quite costly, as it is our extraordinarily effective allocation process that has enabled such impressive increases in productivity and standards of living despite a relatively low domestic saving rate.”

“Returning to the broader fiscal picture, I continue to believe, as I have testified previously, that all else being equal, a declining level of federal debt is desirable because it holds down long-term real interest rates, thereby lowering the cost of capital and elevating private investment. The rapid capital deepening that has occurred in the U.S. economy in recent years is a testament to these benefits. But the sequence of upward revisions to the budget surplus projections for several years now has reshaped the choices and opportunities before us.
Indeed, in almost any credible baseline scenario, short of a major and prolonged economic contraction, the full benefits of debt reduction are now achieved well before the end of this decade--a prospect that did not seem reasonable only a year or even six months ago. Thus, the emerging key fiscal policy need is now to address the implications of maintaining surpluses beyond the point at which publicly held debt is effectively eliminated.”


Testimony of Chairman Alan Greenspan
Current fiscal issues
Before the Committee on the Budget, U.S. House of Representatives
March 2, 2001

 

[NYcarbineer]

Direct result of the Bush tax cuts.

Of course, it was quite predictable, as every POTUS who has cut taxes to drive GDP growth and subsequent tax revenues has been successful.

The Bush tax cuts are still in effect.

What is wrong with you? Five straight years of diminished revenues thanks to tax cut overreach by Bush and the Republicans.

Not very bright, even for you.

Ever hear of the credit crisis and housing bubble?

Oh, so the Bush tax cuts didn't prevent a catastrophic recession? They didn't pay the bills by generating all that revenue from the growth they were supposed to sustain?

Yeah, that's my point.

 

[GreatDay]

Since Obama took office on Jan. 20, 2009, the debt has increased $5,349,641,980,231.06. That is as much as the entire debt accumulated by the United States from the founding of the country in 1776 until Feb. 28, 1997, when President Bill Clinton was in his second term.


Thus, under Obama, the debt has increased more than under all presidents from George Washington through George H.W. Bush combined.


U.S. Debt On Track to Hit $16 Trillion Within Week | CNSNews.com

Do you have any ideals as to how we can keep the GOP from running around crying about Washington taking in too much money, if we ever do get this thing fixed again?


Bush's budget dilemma | The Economist


and this


Milwaukee Journal Sentinel - Google News Archive Search

and this

Why the Dems Are Singing "I Told You So" on the Budget - TIME
and this
http://articles.nydailynews.com/200...s-social-security-congressional-budget-office

then this

CNN.com - Lower estimated surplus stirs up budget debate - August 25, 2001

Before we fix it this time tell me how we don’t just do this again?

 

[NYcarbineer]

I can seasonally adjust my debt down the road? What the fuck does that even mean? Debt gets adjusted seasonally?

It gets adjusted for inflation, when comparing two time periods, for accuracy. But anyhoo, ignoring fail points......

You're again here implying that I'm pro debt.

The point again flies over your head.

Here it is again:

in over 60 years....

politicians that told you they were conservative, have come and gone.....

in and out of office......in and out of office..........people lived entire lives....

and magically, none of them so called conservatives lowered the debt.

and here you are, after 60 years, pretending your party cares about the debt.

and you're somehow perplexed that it's being pointed out?

Reagan tripled it.

you re-elected him.

Bush doubled it.

you re-elected him.

Leftist simply don't have the personal integrity to take responsibility for their actions:

'In February 1981 Reagan presented the Economic Tax Recovery Act to Congress, calling for massive personal and corporate tax cuts, reductions in government spending, and a balanced budget.'

The 1982 Recession . Reagan . WGBH American Experience | PBS

Yea, except it wasn't a balanced budget.

Let me post a quick little quote from David Stockman's book, where he's talking about getting out a balanced budget in 1981:

"...What it didn't do was come close to raising the savings count to the needed $130 billion.

Bookkeeping invention thus began its wondrous works. We invented the 'magic asterisk': If we couldn't find the savings in time - and we couldn't - we would issue an IOU. We would call it 'Future savings to be identified'.

It was marvelously creative. A magic asterisk would cost negative #30 billion...or $40 billion...whatever it took to get to a balanced budget in 1984 after we toted up all the individual budget cuts we'd actually approved."

(The Triumph of Politics, pg 124)

Sound familiar? Sound like any of that Romney talk about savings from, for example, closing tax loopholes, yet to be identified?

You're falling for the same old con, cons...

 

[beretta304]

That pie-in-the-sky free lunch myth has been used by every Republican since Reagan.

There is not enough deregulation in the world that can overcome the fiscal effect of more tax cuts without accompanying budget cuts.

Heck, the Republicans are currently trying to kill the defense cuts they voted FOR a year ago.

Notice how Leftists want to call the Ryan budget a 'pie in the sky free lunch' on one thread, but on the next thread scream about all of the draconian cuts it proposes on the next?

LOL

It's a free lunch for GOP special interests, and a lie that they will really cut anyone else's benefits.

You can't balance the budget by exempting defense and revenues and Medicare and Social Security from the equation. All that's left over to cut are domestic spending programs mostly those that assist low income Americans. They could never get legislation through that would cut that spending by over half, which is what would be required. It's politically impossible. End of story.

The GOP's current 'solution' to the fiscal problem is a fantasy. That is what pie in the sky means.

"free lunch for GOP special interests.."



What was Soooooooooolyndra a payback for?

 

[Moonglow]