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Mr.Fitnah

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U.S. National Debt Clock : Real Time

IMF: U.S. debt nearing 100 percent of GDP
By Eric Zimmermann - 05/15/10 05:09 PM ET
The U.S. national debt will soon reach 100 percent of GDP, the IMF predicts in a new report.

The following graph shows the sharp rise in U.S. debt starting around 2006. By 2015, the IMF suggests, debt could reach well over 100 percent of GDP.
 

boedicca

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$118B per taxpayer, excluding unfunded liabilities which dwarf the existing debt.

Many families have more federal debt than personal debt - what an appalling financial mess.
 

xsited1

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U.S. National Debt Clock : Real Time

IMF: U.S. debt nearing 100 percent of GDP
By Eric Zimmermann - 05/15/10 05:09 PM ET
The U.S. national debt will soon reach 100 percent of GDP, the IMF predicts in a new report.

The following graph shows the sharp rise in U.S. debt starting around 2006. By 2015, the IMF suggests, debt could reach well over 100 percent of GDP.
This is clearly Bush's fault even though the Democrats have controlled Congress since 2007.
 

Nonelitist

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U.S. National Debt Clock : Real Time

IMF: U.S. debt nearing 100 percent of GDP
By Eric Zimmermann - 05/15/10 05:09 PM ET
The U.S. national debt will soon reach 100 percent of GDP, the IMF predicts in a new report.

The following graph shows the sharp rise in U.S. debt starting around 2006. By 2015, the IMF suggests, debt could reach well over 100 percent of GDP.
This is clearly Bush's fault even though the Democrats have controlled Congress since 2007.


Absolutely right. Bush is to be blamed for everything into eternity. Obama only affects things when they are good.

Idiotic, corrupt and lying liberals....
 

Reidlr

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Everyone is making jokes about who is at fault, but this is a serious problem that is not going to go away. The US national debt, today, has just passed the $13 Trillion mark. It is at mulitple sources and I do not feel the need to post a source. Also, we are currently in the low 40% range of GDP towards government run entitlement programs. 40% on just entitlement programs! Both parties are at fault! Our government and lazy uneducated Americans are at fault! We have made this bed.
 

hboats

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Looks to me like the federal government needs to take lessons from the governor of New Jersey. "We don't have a revenue problem, we have a spending problem." :clap2:

Rick
 

Shorebreak

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This is what happens when you agree to a pyramid scheme for a monetary system, and then you grant control of spending to those who profit from the pyramid scheme.

There are two important points to keep in mind:

  1. All spending from Congress comes in the form of an interest-earning loan by our Central Bank, also known as the US Federal Reserve (which is no more federal than Federal Express). For every spending dime that government approves, a group of private banks earns some profit.
  2. When dollars are issued by our Central Bank in response to a federal spending demand, every time a dollar is issued there is a requirement to have more than a dollar in order to repay it at interest.

In other words, it is impossible to repay our debt under the current paradigm because every spending bill requires more money to repay it than is currently in circulation. All politicians who promise to reduce our debt but who are not working towards eliminating the Federal Reserve are lying to you, because unless you remove the pyramid scheme, you cannot correct the problem.
 
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rhodescholar

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This is what happens when you agree to a pyramid scheme for a monetary system, and then you grant control of spending to those who profit from the pyramid scheme.

There are two important points to keep in mind:

  1. All spending from Congress comes in the form of an interest-earning loan by our Central Bank, also known as the US Federal Reserve (which is no more federal than Federal Express). For every spending dime that government approves, a group of private banks earns some profit.
  2. When dollars are issued by our Central Bank in response to a federal spending demand, every time a dollar is issued there is a requirement to have more than a dollar in order to repay it at interest.

In other words, it is impossible to repay our debt under the current paradigm because every spending bill requires more money to repay it than is currently in circulation. All politicians who promise to reduce our debt but who are not working towards eliminating the Federal Reserve are lying to you, because unless you remove the pyramid scheme, you cannot correct the problem.
Talking points directly from the Ron Paul/Scientologist/Far left/Lyndon LaRouche websites... :cuckoo:

Now for reality: the federal government is spending too much money on things like union labor, $300 MM power plants in Afghan that cannot run, far too many people work for the fed gov't, too many ppl are retiring so medicare and SS cannot be sustained, etc., etc.
 
OP
Mr.Fitnah

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The central bank is an institution of the most deadly hostility existing against the Principles and form of our Constitution. I am an Enemy to all banks discounting bills or notes for anything but Coin. If the American People allow private banks to control the issuance of their currency, first by inflation and then by deflation, the banks and corporations that will grow up around them will deprive the People of all their Property until their Children will wake up homeless on the continent their Fathers conquered.

T Jefferson.
 
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Mr.Fitnah

Mr.Fitnah

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This is what happens when you agree to a pyramid scheme for a monetary system, and then you grant control of spending to those who profit from the pyramid scheme.

There are two important points to keep in mind:

  1. All spending from Congress comes in the form of an interest-earning loan by our Central Bank, also known as the US Federal Reserve (which is no more federal than Federal Express). For every spending dime that government approves, a group of private banks earns some profit.
  2. When dollars are issued by our Central Bank in response to a federal spending demand, every time a dollar is issued there is a requirement to have more than a dollar in order to repay it at interest.

In other words, it is impossible to repay our debt under the current paradigm because every spending bill requires more money to repay it than is currently in circulation. All politicians who promise to reduce our debt but who are not working towards eliminating the Federal Reserve are lying to you, because unless you remove the pyramid scheme, you cannot correct the problem.
Talking points directly from the Ron Paul/Scientologist/Far left/Lyndon LaRouche websites... :cuckoo:

Now for reality: the federal government is spending too much money on things like union labor, $300 MM power plants in Afghan that cannot run, far too many people work for the fed gov't, too many ppl are retiring so medicare and SS cannot be sustained, etc., etc.
Shore says 1 thing right in his entire posting history and you have shit on it?
The fuck is wrong with you?
 

Shorebreak

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This is what happens when you agree to a pyramid scheme for a monetary system, and then you grant control of spending to those who profit from the pyramid scheme.

There are two important points to keep in mind:

  1. All spending from Congress comes in the form of an interest-earning loan by our Central Bank, also known as the US Federal Reserve (which is no more federal than Federal Express). For every spending dime that government approves, a group of private banks earns some profit.
  2. When dollars are issued by our Central Bank in response to a federal spending demand, every time a dollar is issued there is a requirement to have more than a dollar in order to repay it at interest.

In other words, it is impossible to repay our debt under the current paradigm because every spending bill requires more money to repay it than is currently in circulation. All politicians who promise to reduce our debt but who are not working towards eliminating the Federal Reserve are lying to you, because unless you remove the pyramid scheme, you cannot correct the problem.
Talking points directly from the Ron Paul/Scientologist/Far left/Lyndon LaRouche websites... :cuckoo:

Now for reality: the federal government is spending too much money on things like union labor, $300 MM power plants in Afghan that cannot run, far too many people work for the fed gov't, too many ppl are retiring so medicare and SS cannot be sustained, etc., etc.
Talking points? Can you explain to us how a dollar that's issued at interest can ever be repaid in full when every dollar used to repay it was also created at interest? That's not a talking point, acolyte. That's a fact.

You sound like ...... a rhodes scholar. You would have made Cecil proud.

Here's reality: How about all of the spending on the UN, on "foreign aid", on wars of aggression in Afghanistan and Iraq, and on expansion of federal spending and scope at levels in every possible direction?
 

boedicca

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Everyone is making jokes about who is at fault, but this is a serious problem that is not going to go away. The US national debt, today, has just passed the $13 Trillion mark. It is at mulitple sources and I do not feel the need to post a source. Also, we are currently in the low 40% range of GDP towards government run entitlement programs. 40% on just entitlement programs! Both parties are at fault! Our government and lazy uneducated Americans are at fault! We have made this bed.

It's true. Big Government insanity has been a bi-partisan effort.

We need to reform entitlements, cut spending and reduce the deficits/debt before we turn into Greece On Steroids.
 

Shorebreak

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At the end of this video, if you still don't know who ends up paying it back, go find a mirror.

[ame=http://www.youtube.com/watch?v=5D0VhS8qXT0]YouTube - Clarke and Dawe: Lending merry-go-round[/ame]
 

Meister

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Our chickens are coming home to roost.

March 15 (Bloomberg) — The U.S. and the U.K. have moved “substantially” closer to losing their AAA credit ratings as the cost of servicing their debt rose, according to Moody’s Investors Service.

The governments of the two economies must balance bringing down their debt burdens without damaging growth by removing fiscal stimulus too quickly, Pierre Cailleteau, managing director of sovereign risk at Moody’s in London, said in a telephone interview.

Under the ratings company’s so-called baseline scenario, the U.S. will spend more on debt service as a percentage of revenue this year than any other top-rated country except the U.K., and will be the biggest spender from 2011 to 2013, Moody’s said today in a report.

“We expect the situation to further deteriorate in terms of the key ratings metrics before they start stabilizing,” Cailleteau said. “This story is not going to stop at the end of the year. There is inertia in the deterioration of credit metrics.”

The pound fell against the dollar and the euro for the first time in three days, depreciating 0.8 percent to $1.5090, while the dollar index snapped a four-day drop, adding 0.3 percent to 90.075.

The U.S. government will spend about 7 percent of its revenue servicing debt in 2010 and almost 11 percent in 2013, according to the baseline scenario of moderate economic recovery, fiscal adjustments in line with government plans and a gradual increase in interest rates, Moody’s said.

Under its adverse scenario, which assumes 0.5 percent lower growth each year, less fiscal adjustment and a stronger interest-rate shock, the U.S. will be paying about 15 percent of revenue in interest payments, more than the 14 percent limit that would lead to a downgrade to AA, Moody’s said.
Moody’s Warns, US and UK Closer to Losing AAA Credit Rating The IUSB Vision Weblog
 

Foxfyre

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There is a more urgent concern than just reforming our broken system. We need to STOP. NOW! Just do what we absolutely have to do and nothing more until we can work on each broken component slowly, carefully, systematically, and with full awareness of the consequences of what we do.

According to Forbes this morning, our national debt passed the $13 trillion mark today. That's $13 trillion with a "T" and it is escalating as I write this.

When Bill Clinton took office, the national debt was around $3.5 trillion. When George W. Bush took office it was around $6.2 trillion. When Barack Obama took office it was just under $10 trillion. And today $13 trillion. That's an increase of more than $3 trillion dollars in 16 months. And His arrogance and Congress are talking about funneling hundreds of billions more in TARP, stimulus, and bailouts on top of it just in the next several months.

And as our GDP is pretty well mired in recession and largely sucks in comparison to the debt, we are fast approaching economic crisis comparable to that of Greece. Plus a huge chunk of the mortgage on all tht debt is held by people who do not have any of our best interests at heart.

People vote conservative in November. I don't care if you vote for Democrat, Republican, or the Mickey Mouse candidate, but vote for somebody committed to stopping the insanity.
 
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