Wave of Debt Payments Facing US Government

[Xenophon]

I am an old timer of political boards.

Then you should be smarter then to call someone you don't know a hypocrite, 'old timers' would know better, you just put lots of time in, there is a difference.

Ahh the gang/pack thing, if you are not in my group, and all that.

Its always fun to watch someone attack me, and then pretend they are the victim.

Did you belive I would look kindly on your half-assed accusation that I was a hypocrite?

I have no fear whatsoever of being myself. It is what I am best at. I feel no need to bow to or follow others.

But you do feel the need to generalize, assume and kiss Barry's nuts.

So much for the 'indepenant thinker.'

How you judge me is of no concern to me.

Of course it is or you wouldn't have answered.

 

[Xenophon]

I am an old timer of political boards.

Ahh the gang/pack thing, if you are not in my group, and all that.

I have no fear whatsoever of being myself. It is what I am best at. I feel no need to bow to or follow others.

How you judge me is of no concern to me.

well for starters you got no creativity, every time someone mentionsa problem obamalama faces some predictable fool such as yourself popsup from the kool aid vat and says,, "booooooooooooooosh" so yep,, play the fool you do it so well.

It is hard enough being me, I sure am glad I am not you.

Creativity? Truth requires no creative writing.

How many more in this pack will cut in now in support of their members?

It is a political board trait.

Actually being an idiot, making a stupid assumption and refusing to admit as you've done is a political board trait.'

As I read more of your posts, its clear you don't know how to discuss anything, you are an 'us/them' type, you think anyone who isn't on your percieved 'side' belongs to what you consider the 'other side.'

How simplistic you are.

 

[Xenophon]

More bad news for Barry, just as he is all set to piss away another trillion on the barrycare handout.

Wave of Debt Payments Facing US Government - General * US * News * Story - CNBC.com

With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.

In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.

Keep fiddling while our economy burns.

Moron.

According to the WH's own figures, by 2019, our debt will be $24.5 trillion. Now, since they always get it wrong - it is always more than predicted.... I wonder what future generations will say about Obama? Think he's gonna be 'the Greatest President Ever'? Or will they look at him and wish to God he'd never been born?

Such a debt is unsustainable, unless the US can keep borrowing.

China has already said its near the limit of loans.

 

[Xenophon]

This is good, I am learning who will jump on me in defense of certain other posters.

You are not 'learning' at all, that seems to a theme with you.

 

[NYcarbineer]

More bad news for Barry, just as he is all set to piss away another trillion on the barrycare handout.

Wave of Debt Payments Facing US Government - General * US * News * Story - CNBC.com

With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.

In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.

Keep fiddling while our economy burns.

Moron.

I hear that Iraqi oil revenues will start covering this any day now.

 

[Xenophon]

now getting back on subject.....Xenophon...did you see that article from the Times? It said basically the same thing...under The Barry...we're screwed!!!!! The debt servicing will eat up nearly 30%-40% of the budget by the time he get's through with fleecing the U.S. populace.

It's all a con perptrated by the greatest grifter ever to come out of the U.S. let alone Chicago.

I saw it, I posted it in another thread.

The interest payments per year alone will be 500 BILLION within 10 years.

And all Barry and his loons can talk about is ADDING to this.

Pure ideolouges, they simply want to pass their agenda and are ignoring the state of teh economy.

Only an idiot would talk about adding a TRILLION dollar giveaway when the US is so far in the red.

 

[KittenKoder]

More bad news for Barry, just as he is all set to piss away another trillion on the barrycare handout.

Wave of Debt Payments Facing US Government - General * US * News * Story - CNBC.com

With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.

In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.

Keep fiddling while our economy burns.

Moron.

For every $100 borrowed, expect to pay another $900.

 

[Xenophon]

the Debt Obama began with as president was 11.5 TRILLION. So, him adding .5 to it makes this all his fault from the wingers?

I think NOT....rewriting history to try to favor yourselves is unbecoming and laughable, to say the least.


the other thing that seems wrong is their figure of the debt costing us $200 billion now? Back in 2006 it was $400 billion to service out debt, how did it come back down to just $200 billion when we have overspent by a trillion since then, adding that to our debt????

Something seems amiss, in those figures....I say it is worse than what is being reported....unless there is some fuzzy math that I am unaware of that they are using.

'Fuzzy math' is correct, but its YOU who are posting it care:

President Bush presided over a $2.5 trillion increase in the public debt through 2008. Setting aside 2009 (for which Presidents Bush and Obama share responsibility for an additional $2.6 trillion in public debt), President Obama’s budget would add $4.9 trillion in public debt from the beginning of 2010 through 2016.

Bush Deficit vs. Obama Deficit in Pictures » The Foundry

What that means is, Barry has ALREADY added more debt then that idiot Chimp did in EIGHT YEARS!!!

 

[Xenophon]

I hear that Iraqi oil revenues will start covering this any day now.

That must be why the dems joined with the GoP to start a pointless war.

I bet you were out there with Hillary cheering them on.

 

[PatekPhilippe]

Here is the history of the prime rate from the WSJ.

Prime Rate History



November 17, 1999 8.50
February 3, 2000 8.75
March 22, 2000 9.00
May 17, 2000 9.50
January 4, 2001 9.00
February 1, 2001 8.50
March 21, 2001 8.00
April 19, 2001 7.50
May 16, 2001 7.00
June 28, 2001 6.75
August 22, 2001 6.50
September 18, 2001 6.00
October 3, 2001 5.50
November 7, 2001 5.00
December 12, 2001 4.75
November 7, 2002 4.25
June 27, 2003 4.00
July 1, 2004 4.25
August 11, 2004 4.50
September 22, 2004 4.75
November 10, 2004 5.00
December 14, 2004 5.25
February 2, 2005 5.50
March 22, 2005 5.75
May 3, 2005 6.00
June 30, 2005 6.25
August 9, 2005 6.50
September 21, 2005 6.75
November 1, 2005 7.00
December 13, 2005 7.25
January 31, 2006 7.50
March 28, 2006 7.75
May 10, 2006 8.00
June 29, 2006 8.25
Date of Rate Change Rate (%)
September 18, 2007 7.75
October 31, 2007 7.50
December 11, 2007 7.25
January 22, 2008 6.50
January 30, 2008 6.00
March 18, 2008 5.25
April 30, 2008 5.00
October 8, 2008 4.50
October 29, 2008 4.00
December 16, 2008 3.25
(The Current U.S. Prime Rate)

November 4, 2009: The Federal Open Market Committee (FOMC) has voted
to keep the target range for the fed funds rate at 0% - 0.25%.
Therefore, the U.S. Prime Rate remains at 3.25%.
The next FOMC meeting and decision on short-term rates will be on December 15TH, 2009.


You might want to read that Wiki article it will educatue you on how the fed works. or at least is supposed to work.

Obviously you are too stupid to differentiate between long term borrowing, short term borrowing and the U.S. Prime Rate. Get an education before coming to a message board, claim to be an old timer and then getting sent packing time and time again.
Have a nice day.

 

[NYcarbineer]

I hear that Iraqi oil revenues will start covering this any day now.

That must be why the dems joined with the GoP to start a pointless war.

I bet you were out there with Hillary cheering them on.

No actually I was voting for Jonathan Tasini in the NY primary vs. Hillary.

Most Democrats voted against the war, btw. Read a paper or something once in awhile.

 

[PatekPhilippe]

I hear that Iraqi oil revenues will start covering this any day now.

That must be why the dems joined with the GoP to start a pointless war.

I bet you were out there with Hillary cheering them on.

No actually I was voting for Jonathan Tasini in the NY primary vs. Hillary.

Most Democrats voted against the war, btw. Read a paper or something once in awhile.

Ummmmm....you may want to check that statement....seems to me the Democrat controlled Senate voted FOR WAR in 2002 and are continuously supporting it TO THIS VERY DAY!

 

[PatekPhilippe]

The problem this holds for national economic management is that the rich consume a much lower percentage of their income than do those who are not rich. How many cars can you drive at one time, anyway? The rich are also the most likely to spend what money they do on foreign luxury goods, take foreign vacations, make investments in foreign countries, or just let the money sit in the bank.

The poor, working, and middle classes, on the other hand, spend virtually everything they earn. The car needs new tires, the kids need new shoes, the washing machine needs fixing, they’re two months behind on the rent and three months behind on the credit cards. In all of these ways, income shifted through the tax code to middle and lower quintile earners is quickly spent while income shifted to the wealthy is not. This is not class warfare. It is Economics 101.

You can defend the trickle down system of Bush all you want but HISTORY is my proof and final say in this.

Your history is flawed .... do you know why?

When you are too fucking lazy to educate yourself so you can move up the ladder and you stay in a piss poor paying job, then bitch about how hard you got it in life...you deserve what you get.

 

[NYcarbineer]

That must be why the dems joined with the GoP to start a pointless war.

I bet you were out there with Hillary cheering them on.

No actually I was voting for Jonathan Tasini in the NY primary vs. Hillary.

Most Democrats voted against the war, btw. Read a paper or something once in awhile.

Ummmmm....you may want to check that statement....seems to me the Democrat controlled Senate voted FOR WAR in 2002 and are continuously supporting it TO THIS VERY DAY!

That's why they have a term called a 'half truth'. Democrats in Congress voted 147 to 110 AGAINST the Iraq authorization.

We have a bicameral legislature. You learn that in school.

 

[PatekPhilippe]

No actually I was voting for Jonathan Tasini in the NY primary vs. Hillary.

Most Democrats voted against the war, btw. Read a paper or something once in awhile.

Ummmmm....you may want to check that statement....seems to me the Democrat controlled Senate voted FOR WAR in 2002 and are continuously supporting it TO THIS VERY DAY!

That's why they have a term called a 'half truth'. Democrats in Congress voted 147 to 110 AGAINST the Iraq authorization.

We have a bicameral legislature. You learn that in school.

That's the House...THE SENATE which was controlled by the Democrats voted in favor of war...regardless of the breakdown...it passed and here we are.

 

[Care4all]

in the senate...
All republicans voted for it except lincoln Chaffe from rhode island, and 21 democrats voted against it, with the remaining twenty something Democrats voting for it with the republicans....

the democrats in the senate offered up these amendments to the resolution which were voted down:

Vote on amendment (#4869) to S.J.RES.45

October 10, 2002 Failed
31-66 To set a one-year limit on the congressional authorization to use military force in Iraq. (More info at full article.)


Vote on amendment (#4868) to S.J.RES.45

October 10, 2002 Failed
14-86 To declare that the authorization to use force in Iraq reasserts Congress's power to declare war. Requiring the president to receive congressional authorization for any military action not related to an imminent threat. (More info at full article.)

Vote on amendment (#4862) to S.J.RES.45

October 10, 2002 Failed
24-75 To require the president to receive authorization from the United Nations before using military force in Iraq. (More info at full article.)

Vote on amendment (#4865) to S.J.RES.45

October 10, 2002 Failed
70-30
(60 needed) Requiring the existence of an imminent threat prior to U.S. military deployment in Iraq. (More info at full article.)

http://www.sourcewatch.org/index.php?title=U.S._Senate_votes_on_the_Iraq_War

 

[xsited1]

I remember posting on some message board back in 2002 about the subject of the Iraq war. I simply said that if the US attacks Iraq and finds WMDs, who cares? They're no threat to us. Besides, we can't afford to go to war anyway. Both Republicans and Democrats slammed me for it. Of course, the Democrats pretended that they hadn't supported the war after no WMDs were found, but that seems to be a common theme with the two major political parties these days.

 

[oreo]

More bad news for Barry, just as he is all set to piss away another trillion on the barrycare handout.

Wave of Debt Payments Facing US Government - General * US * News * Story - CNBC.com

With the national debt now topping $12 trillion, the White House estimates that the government’s tab for servicing the debt will exceed $700 billion a year in 2019, up from $202 billion this year, even if annual budget deficits shrink drastically. Other forecasters say the figure could be much higher.

In concrete terms, an additional $500 billion a year in interest expense would total more than the combined federal budgets this year for education, energy, homeland security and the wars in Iraq and Afghanistan.

Keep fiddling while our economy burns.

Moron.

With the liberals on this board--most of which I assume are YOUNGSTERS--that do not KNOW that you're already in debt in INTEREST alone of $120,000.00 on the National Debt--before you even get your first job.

Welcome to REALITY:

How's all that Hopey & Changey workin for Ya?

A suggestion to you: The next time you see a "tea partier- give them a hug- instead of screaming "I love Obama"





i

 

[Darkwind]

More bad news for Barry, just as he is all set to piss away another trillion on the barrycare handout.

Wave of Debt Payments Facing US Government - General * US * News * Story - CNBC.com



Keep fiddling while our economy burns.

Moron.

According to the WH's own figures, by 2019, our debt will be $24.5 trillion. Now, since they always get it wrong - it is always more than predicted.... I wonder what future generations will say about Obama? Think he's gonna be 'the Greatest President Ever'? Or will they look at him and wish to God he'd never been born?

Such a debt is unsustainable, unless the US can keep borrowing.

China has already said its near the limit of loans.

Aye. And they are going to want to get kissed pretty soon if we keep it up.

 

[PatekPhilippe]

in the senate...
All republicans voted for it except lincoln Chaffe from rhode island, and 21 democrats voted against it, with the remaining twenty something Democrats voting for it with the republicans....

the democrats in the senate offered up these amendments to the resolution which were voted down:

Vote on amendment (#4869) to S.J.RES.45

October 10, 2002 Failed
31-66 To set a one-year limit on the congressional authorization to use military force in Iraq. (More info at full article.)


Vote on amendment (#4868) to S.J.RES.45

October 10, 2002 Failed
14-86 To declare that the authorization to use force in Iraq reasserts Congress's power to declare war. Requiring the president to receive congressional authorization for any military action not related to an imminent threat. (More info at full article.)

Vote on amendment (#4862) to S.J.RES.45

October 10, 2002 Failed
24-75 To require the president to receive authorization from the United Nations before using military force in Iraq. (More info at full article.)

Vote on amendment (#4865) to S.J.RES.45

October 10, 2002 Failed
70-30
(60 needed) Requiring the existence of an imminent threat prior to U.S. military deployment in Iraq. (More info at full article.)

http://www.sourcewatch.org/index.php?title=U.S._Senate_votes_on_the_Iraq_War

Thankyou for re-enforcing my point about the Senate. Looks like the Democrats DID support the war and voted all of these restrictive amendments down. I noticed midcan has left the building.