US DEBT : Passing $20,000,000,000,000 - Your Thoughts? (1 Viewer)

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About to whip past $20,000,000,000,000 and projected to hit $30 Trillion in a decade....

Go

 

[xulf]

WE ####### DID IT GUYS!!!!!!!!

 

[Dan Lambskin]

 

[Dan Lambskin]

Also Thanks Obama!

 

[eoMMan]

Obummer!

 

[TobiasFunke]

Eh. We have assets too. We could probably recover half that just by pimping out our Hollywood actresses and porn stars to Middle Eastern royalty.

 

[Todem]

Too many people.

 

[Thunderlips]

Invest in lead.

 

[Thunderlips]

Meh. We'll just start a war...blow someplace up.....then rebuild it and make fat stacks.

 

[avoiding injuries]

It's the other parties fault.

 

[urbanhack]

Meh. We'll just start a war...blow someplace up.....then rebuild it and make fat stacks.

We've been doing that constantly to feed the military industrial complex, so that's not going to stop.

 

[Joe T]

Surprised there is no recognition of this in all the election debates.

 

[SacramentoBob]

If they don't want us to run up the scoreboard the defense should do something.

 

[Gustavo Fring]

In the game of life, the U.S. is the rake...we just call it "borrowing"

 

[IC FBGCav]

Put in all on red. Double or nothing!

 

[[icon]]

If they don't want us to run up the scoreboard the defense should do something.

ool

 

[[icon]]

Surprised there is no recognition of this in all the election debates.

Fun Fact... our debt totals over 16x the total amount of ALL hard US Currency in existence.

Not that it really matters per se... just found that interesting.

 

[Sabertooth]

Gotta have an impact at some point. I'm ready.

 

[Scoresman]

Let's just kill whoever we owe it to.

 

[matttyl]

Eh. We have assets too. We could probably recover half that just by pimping out our Hollywood actresses and as porn stars to Middle Eastern royalty.

Fixed.

 

[Henry Ford]

Only 40 years of no military budget, and we'd be in the black!

 

[Buddy Ball 2K3]

I say free college to anyone that wants to better themselves and a $30K per year guaranteed salary to every person 18 and up.

 

[urbanhack]

Only 40 years of no military budget, and we'd be in the black!

"out military is too weak as it is!!!!"

/gop

 

[fantasycurse42]

That number will obviously continue to grow until infinity.

 

[Eminence]

So unfair to leave this for our children.

 

[matttyl]

http://www.usdebtclock.org/index.html

Debt per citizen - ~$59k

Debt per taxpayer - ~$159k

 

[matttyl]

Only 40 years of no military budget, and we'd be in the black!

Or less than half that of no Medicare/Medicaid spending.

 

[xulf]

So unfair to leave this for our children.

Our parents left it for us (and are still much of those in power).

 

[Ketamine Dreams]

To those who aren't concerned about this amount of debt; is there an amount that would concern you? What would that amount of debt be? Just curious...

 

[Willie Neslon]

The biggest problem with the debt is that it's used disingenuously as a political ploy. It's complex and not all bad.

 

[Slapdash]

To those who aren't concerned about this amount of debt; is there an amount that would concern you? What would that amount of debt be? Just curious...

I'd be concerned when the US loses the ability to create US dollars out of thin air. Until that time, the nominal debt number is pretty meaningless until compared to size of the economy. Even then, it isn't of paramount importance.

 

[sdp1226]

http://www.usdebtclock.org/index.html

Debt per citizen - ~$59k

Debt per taxpayer - ~$159k

WARNING: clicking this link may cause seizures

 

[Henry Ford]

Only 40 years of no military budget, and we'd be in the black!

Or less than half that of no Medicare/Medicaid spending.

...if we continue charging people a tax to pay for Medicare at the same time, right?

 

[Limp Ditka]

So unfair to leave this for our children.

You'll never have children. Problem solved!

 

[sdp1226]

Let's just kill whoever we owe it to.

Hit List

 

[matttyl]

Only 40 years of no military budget, and we'd be in the black!

Or less than half that of no Medicare/Medicaid spending.

...if we continue charging people a tax to pay for Medicare at the same time, right?

Well yes, just as your idea would continue charging people a tax to pay for something that would no longer exist as well. I didn't say either idea was a good one.

 

[matttyl]

Let's just kill whoever we owe it to.

Hit List

Thanks for posting this. I would have thought foreign nations held more, but it looks like they only have about a third of it.

 

[Skoo]

Luckily everyone else's economy relies on our economy.

 

[BigSteelThrill]

All we need to do is start some more unneeded wars!

 

[Henry Ford]

Only 40 years of no military budget, and we'd be in the black!

Or less than half that of no Medicare/Medicaid spending.

...if we continue charging people a tax to pay for Medicare at the same time, right?

Well yes, just as your idea would continue charging people a tax to pay for something that would no longer exist as well. I didn't say either idea was a good one.

Plus, if we start eliminating federal trust funds, we can wipe out 15% of the debt right off the top!

 

[TobiasFunke]

http://www.usdebtclock.org/index.html

Debt per citizen - ~$59k

Debt per taxpayer - ~$159k

I love these, because that logic also allows me to pretend that my family also owns the rights to 3,500 barrels of unproduced oil, God knows how many cubic feet of natural gas, 10 acres of land, and all sorts of other goodies.

Only 5 ounces of gold, though, And we have to share our tank and airplane with the entire neighborhood.

 

[[icon]]

To those who aren't concerned about this amount of debt; is there an amount that would concern you? What would that amount of debt be? Just curious...

I'd be concerned when the US loses the ability to create US dollars out of thin air. Until that time, the nominal debt number is pretty meaningless until compared to size of the economy. Even then, it isn't of paramount importance.

Debt being greater than GDP is a "nominal" debt number? What is a safe GDP/Debt ratio? Where does it get dangerous?

Serious question... I don't pretend to be the next Warren Buffett.

 

[pandora]

Get rid of the Democrats.

 

[Ned]

This is why I've been invested in printer ink companies for the past 10 years.

 

[spreagle]

It's meaningless. This is not debt like personal debt, because we have absolutely no intention of ever paying this debt back. The Constitution gives Congress the authority to go into debt ... but I have to assume this was for reasonable debt for some noble cause that would eventually to be paid back, not for junk we waste money on now. The constitutionalframers never envisioned a debt backed currency ponzi that would build higher and higher until it collapsed. Whoever is in the most debt ... government or whoever ... when it collapses is the big winner because they got to spend dollars when they were worth something.

 

[NREC34]

To those who aren't concerned about this amount of debt; is there an amount that would concern you? What would that amount of debt be? Just curious...

I'd be concerned when the US loses the ability to create US dollars out of thin air. Until that time, the nominal debt number is pretty meaningless until compared to size of the economy. Even then, it isn't of paramount importance.

What would happen if we just printed 20 trillion and sent it to whoever we owe? Fiat currency is very confusing to me.

 

[timschochet]

Have annual deficits gone down under Obama? Yes or no?

 

[TobiasFunke]

To those who aren't concerned about this amount of debt; is there an amount that would concern you? What would that amount of debt be? Just curious...

I'd be concerned when the US loses the ability to create US dollars out of thin air. Until that time, the nominal debt number is pretty meaningless until compared to size of the economy. Even then, it isn't of paramount importance.

Debt being greater than GDP is a "nominal" debt number?

Serious question... I don't pretend to be the next Warren Buffett.

The problem with any analysis of federal debt is that it fails to account for federal assets. The value of the technically recoverable fossil fuel assets on federal lands alone is six times the national debt.

Now we're a pro-business kind of place, so we currently lease out the right to mine for those fossil fuels in exchange for rental and royalty payments. But we don't have to do that. If we really wanted to, we could stop all leasing, terminate existing leases at the soonest possible date, nationalize production, and then all that money (minus the cost of production) would go to the federal coffers. Ta da! No more debt.

 

[spreagle]

To those who aren't concerned about this amount of debt; is there an amount that would concern you? What would that amount of debt be? Just curious...

I'd be concerned when the US loses the ability to create US dollars out of thin air. Until that time, the nominal debt number is pretty meaningless until compared to size of the economy. Even then, it isn't of paramount importance.

Debt being greater than GDP is a "nominal" debt number? What is a safe GDP/Debt ratio? Where does it get dangerous?

Serious question... I don't pretend to be the next Warren Buffett.

It's dangerous when the markets decide it's dangerous, which is also the same time it's too late to do anything about it.

 

[matttyl]

http://www.usdebtclock.org/index.html

Debt per citizen - ~$59k

Debt per taxpayer - ~$159k

I love these, because that logic also allows me to pretend that my family also owns the rights to 3,500 barrels of unproduced oil, God knows how many cubic feet of natural gas, 10 acres of land, and all sorts of other goodies.

Only 5 ounces of gold, though, And we have to share our tank and airplane with the entire neighborhood.

Actually it's almost exactly 7 acres per person. Like down to the hundredth of an acre exactly 7.