You Owe $149,445..

[expat_panama]

...you owe just over $54,000.00...

More like $54,630.10 --that's $17,149,154,023,335.85 (from here) ÷ 313,914,040 (from here). Of course, while we're at it the total private net worth of all American citizens is $74,820,940,000,000 (from here) so dividing that equally (like we did w/ the debt) then we've all got $238,348.50 in the bank and we can pay off our $54,630.10 in monthly installments at a 1.3731816% annual interest rate (from here) --which comes out to $62.51 per month. I now got a bank balance of $238,348.50 so I can afford the $62.51 per month. Easy peasy.

Here's the problem with that. The debt is growing faster than your itty bitty minimum payments.

No, that's not it either and it's crazy that nobody's even coming close. Here's the thing: nobody here believes that every member of their family has $238,348.50 in the bank (am I right?). Dividing the total equally among everyone is stupid so let's admit every man woman & child doesn't owe and is not going to have to pay $54,630.10.

Let think. Out of the total U.S. population of 313,914,040, only 143,568,000 are employed, and only half of those are paying taxes. Out of those of us who pay taxes, most the revenue is payed by just our riches 5%. The good news is that the debt's going to be paid by the nation's one percenters. The bad news is they won't be able to continue doing almost all the hiring so we're going to be looking at even more joblessness.

 

[Papageorgio]

Before the two wars and the Bush tax cuts, there was hardly any deficit. Then for 6 years, Republicans held both houses, the presidency and the Supreme Court.

So now that Obama is in office a bigger deficit is better?

It was bad economics under Bush, it is bad economics under Obama.

Now that the partisan BS is done, what is the solution? Oh wait, there is no deficit problem, unless a Republican is elected.

 

[Kimura]

If you're a taxpayer otherwise you owe just over $54,000.00 along with each of your non-taxpaying children and significant other.


Democrats.. America's "fumbling the future" Dream Crushers..


U.S. National Debt Clock : Real Time

We don't owe the government owe a thing. These debt clocks stem from a gross misunderstanding about macroaccounting. You linked to a 'debt clock'. Where the corresponding asset clock? It's a basic principle of accounting that for every financial asset there's an offsetting and equal financial liability.

There's no such thing as inter-generational debt. In reality, no such burden can exist, because our children and grandchildren will consume whatever they produce. There's no reason that government spending from previous years will prevent our children and grandchildren from producing the real goods and services they're capable of producing.

Our children, just like us, will go to work and produce and consume their real output of goods and services, regardless of how many bonds need to get rolled over. In economics, this whole concept simplly does not exist, whereby we must sacrifice today's output to some time in the past. Our children can't and won't pay us back a dime we left to them, even if they wanted to.

 

[Kimura]

...Republicans created the deficit...

Wait, does that mean you thing the deficit's a good thing and that's why you wanted it bigger, does it mean you've always hated the deficit but you let it grow to be nice to Republicans, or does it mean you've been fighting the deficit but you're just not very good at it?

Deficits aren't good nor bad. They matter but not in the way most people think. There's a ton of ignorance out there about monetary operations.

 

[Lumpy 1]

I'm not paying.

Democrats figure that's what the future generations are for, they won't mind and sticking them with it is beyond their control..perfect conditions for the liberal mind-set.

So, republicans had NOTHING to do with the national debt? Are you flipping serious?

How do you figure?

I know it's popular with conservatives to play the blame game, but where's the accountability for Christ's sake?

Relax..Republicans did a share of the National Debt but the Democratic Party needs to make their voters dependent on "government" to survive. Obama certainly is a good Democrat.

 

[Lumpy 1]

If you're a taxpayer otherwise you owe just over $54,000.00 along with each of your non-taxpaying children and significant other.


Democrats.. America's "fumbling the future" Dream Crushers..


U.S. National Debt Clock : Real Time

We don't owe the government owe a thing. These debt clocks stem from a gross misunderstanding about macroaccounting. You linked to a 'debt clock'. Where the corresponding asset clock? It's a basic principle of accounting that for every financial asset there's an offsetting and equal financial liability.

There's no such thing as inter-generational debt. In reality, no such burden can exist, because our children and grandchildren will consume whatever they produce. There's no reason that government spending from previous years will prevent our children and grandchildren from producing the real goods and services they're capable of producing.

Our children, just like us, will go to work and produce and consume their real output of goods and services, regardless of how many bonds need to get rolled over. In economics, this whole concept simplly does not exist, whereby we must sacrifice today's output to some time in the past. Our children can't and won't pay us back a dime we left to them, even if they wanted to.

Get a grip on reality.. How much are we paying/wasting in interest on the national debt and when do you feel it may be a problem, doubled, tripled ..what?

btw. I'm not impressed with your pompous ass act.

 

[Kimura]

If you're a taxpayer otherwise you owe just over $54,000.00 along with each of your non-taxpaying children and significant other.


Democrats.. America's "fumbling the future" Dream Crushers..


U.S. National Debt Clock : Real Time

We don't owe the government owe a thing. These debt clocks stem from a gross misunderstanding about macroaccounting. You linked to a 'debt clock'. Where the corresponding asset clock? It's a basic principle of accounting that for every financial asset there's an offsetting and equal financial liability.

There's no such thing as inter-generational debt. In reality, no such burden can exist, because our children and grandchildren will consume whatever they produce. There's no reason that government spending from previous years will prevent our children and grandchildren from producing the real goods and services they're capable of producing.

Our children, just like us, will go to work and produce and consume their real output of goods and services, regardless of how many bonds need to get rolled over. In economics, this whole concept simplly does not exist, whereby we must sacrifice today's output to some time in the past. Our children can't and won't pay us back a dime we left to them, even if they wanted to.

Get a grip on reality.. How much are we paying/wasting in interest on the national debt and when do you feel it may be a problem, doubled, tripled ..what?

btw. I'm not impressed with your pompous ass act.

I'm firmly grounded in reality.

US public debt is not the same as household debt. The currency issuer plays by different rules than the currency user.

US public debt represents the total savings of the US economy - or the propensity of the private sector to save. It should be viewed as national equity. The federal government even sets the interest rates at which it 'borrows'.

Take a look at Japan. They have twice the debt-to-GDP ratio as we do and have had ZIRP for close to two decades.

If we would have gotten rid of Treasuries when Nixon closed the gold window, we wouldn't even be having this discussion.

 

[Lumpy 1]

We don't owe the government owe a thing. These debt clocks stem from a gross misunderstanding about macroaccounting. You linked to a 'debt clock'. Where the corresponding asset clock? It's a basic principle of accounting that for every financial asset there's an offsetting and equal financial liability.

There's no such thing as inter-generational debt. In reality, no such burden can exist, because our children and grandchildren will consume whatever they produce. There's no reason that government spending from previous years will prevent our children and grandchildren from producing the real goods and services they're capable of producing.

Our children, just like us, will go to work and produce and consume their real output of goods and services, regardless of how many bonds need to get rolled over. In economics, this whole concept simplly does not exist, whereby we must sacrifice today's output to some time in the past. Our children can't and won't pay us back a dime we left to them, even if they wanted to.

Get a grip on reality.. How much are we paying/wasting in interest on the national debt and when do you feel it may be a problem, doubled, tripled ..what?

btw. I'm not impressed with your pompous ass act.

I'm firmly grounded in reality.

US public debt is not the same as household debt. The currency issuer plays by different rules than the currency user.

US public debt represents the total savings of the US economy - or the propensity of the private sector to save. It should be viewed as national equity. The federal government even sets the interest rates at which it 'borrows'.

Take a look at Japan. They have twice the debt-to-GDP ratio as we do and have had ZIRP for close to two decades.

If we would have gotten rid of Treasuries when Nixon closed the gold window, we wouldn't even be having this discussion.

5 facts about the national debt: What you should know | Pew Research Center

 

[Kimura]

Get a grip on reality.. How much are we paying/wasting in interest on the national debt and when do you feel it may be a problem, doubled, tripled ..what?

btw. I'm not impressed with your pompous ass act.

I'm firmly grounded in reality.

US public debt is not the same as household debt. The currency issuer plays by different rules than the currency user.

US public debt represents the total savings of the US economy - or the propensity of the private sector to save. It should be viewed as national equity. The federal government even sets the interest rates at which it 'borrows'.

Take a look at Japan. They have twice the debt-to-GDP ratio as we do and have had ZIRP for close to two decades.

If we would have gotten rid of Treasuries when Nixon closed the gold window, we wouldn't even be having this discussion.

5 facts about the national debt: What you should know | Pew Research Center

Oh gawd. There some serious problems with these 'facts'. Where to start?

First of all, the national debt basically represents total spending over revenue which the US government has done over the course of its existence. The 17 trillion means that the government spent 17 trillion more than it received in taxes. That 17 trillion went to people, it went into their pockets and bank accounts, which makes it part of their wealth. It's not what owe, but rather what we own.

We can indeed say it's a 'debt' of the US government, but it's an asset of the non-government which would be us.

I wonder if Mr DeSilver realizes that the US rolls over trillions in US securities every year. In the first six months of 2013, for example, we paid back over 30 trillion. Last year, we paid back over 60 trillion. This information is freely available at the US Treasury, simply look up public debt redemptions - daily, monthly, yearly. As long as US debt is denominated in US dollars, there can NEVER be a solvency issue.

 

[Dont Taz Me Bro]

I'm not paying.

Democrats figure that's what the future generations are for, they won't mind and sticking them with it is beyond their control..perfect conditions for the liberal mind-set.

Most of the debt was run up by Republican administrations.

 

[Rshermr]

Corporations don't have to kick in? I thought that corporations were people, too?

The owners of corporations pay personal income taxes on dividends and capital gains on stock.

The employees of corporations pay personal income taxes as well as payroll taxes.

Corporations pay payroll taxes and excise taxes.

Add these up, and its Beaucoup D'Argent.

And................

 

[Lumpy 1]

Corporations don't have to kick in? I thought that corporations were people, too?

The owners of corporations pay personal income taxes on dividends and capital gains on stock.

The employees of corporations pay personal income taxes as well as payroll taxes.

Corporations pay payroll taxes and excise taxes.

Add these up, and its Beaucoup D'Argent.

And................

...and you are messin with fire..just sayin

 

[percysunshine]

'You Owe $149,445...'

Everyone who voted for Obama should have to pay double.

Wait...they already are...

 

[Rshermr]

The owners of corporations pay personal income taxes on dividends and capital gains on stock.

The employees of corporations pay personal income taxes as well as payroll taxes.

Corporations pay payroll taxes and excise taxes.

Add these up, and its Beaucoup D'Argent.

And................

...and you are messin with fire..just sayin

And I should worry about what you are saying why????????????????????????????????????????????????

 

[Lumpy 1]

And................

...and you are messin with fire..just sayin

And I should worry about what you are saying why????????????????????????????????????????????????

Why..?. then you wont appear to be such an idiot, they'll be hope..

 

[Rshermr]

'You Owe $149,445...'

Everyone who voted for Obama should have to pay double.

Wait...they already are...

No, not actually, dipshit. Taxes are at their lowest level of any administration since 1951. As a percentage of gnp. Which is how you have to measure spending or receipts. Really, you need to get a grip. You look like a fool. Lowest taxes by this administration since before Eisenhower.
Historical Federal Receipt and Outlay Summary

 

[percysunshine]

'You Owe $149,445...'

Everyone who voted for Obama should have to pay double.

Wait...they already are...

No, not actually, dipshit. Taxes are at their lowest level of any administration since 1951. As a percentage of gnp. Which is how you have to measure spending or receipts. Really, you need to get a grip. You look like a fool. Lowest taxes by this administration since before Eisenhower.
Historical Federal Receipt and Outlay Summary

Signed up for health insurance lately?

 

[Rshermr]

'You Owe $149,445...'

Everyone who voted for Obama should have to pay double.

Wait...they already are...

No, not actually, dipshit. Taxes are at their lowest level of any administration since 1951. As a percentage of gnp. Which is how you have to measure spending or receipts. Really, you need to get a grip. You look like a fool. Lowest taxes by this administration since before Eisenhower.
Historical Federal Receipt and Outlay Summary

Signed up for health insurance lately?

Nope. On medicare, thanks. But my wife has. With no problem at all. Did you have a point???
So, you changed subjects. I can see that you have accepted that your lies about how much we owe is known by all as bullshit. Good for you. Honesty is a good thing. Even a little taste, in your case.

 

[Quantum Windbag]

Before the two wars and the Bush tax cuts, there was hardly any deficit. Then for 6 years, Republicans held both houses, the presidency and the Supreme Court.

Do you think Obama will ever get the deficit down to what it was when Bush was in office?

 

[Truthseeker420]

Will you take a check?