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re: Seriously how is it going to play out with the US national debt?
Posted on 2/9/18 at 10:12 am to LSUTigersVCURams
Posted on 2/9/18 at 10:12 am to LSUTigersVCURams
quote:
How the hell is this going to play out?
We're fricked.
1
Posted on 2/9/18 at 10:13 am to LSUTigersVCURams
The debt acquired during the tyrannical reign of the Kenyan Usurper will destroy this country, OTOH debt acquired by GEOTUS will bless this land
Posted on 2/9/18 at 10:19 am to iAmBatman
quote:
Make me pussy
You can make those things?
Posted on 2/9/18 at 10:31 am to TbirdSpur2010
quote:
Our children & grandchildren are fricked.
Fixed it.
Kicking the can...
Posted on 2/9/18 at 10:36 am to LeMarteau
quote:
Our children & grandchildren are fricked.
It's immoral what we are doing to future generations. One of the reasons I support candidates like Rand Paul but I guess he's not mainstream enough for most.
Posted on 2/9/18 at 10:36 am to LSUTigersVCURams
China better check deez USA knuckles
Posted on 2/9/18 at 10:36 am to LeMarteau
Guess it depends on your age. I'm a millennial, so the frickery will begin just before I reach retirement age. By the time my kid gets to that point, we'll be "well and truly" fricked 
Posted on 2/9/18 at 10:39 am to LSUTigersVCURams
thanks trump.
Posted on 2/9/18 at 10:41 am to PhilipMarlowe
quote:
thanks trump
Obama ran up more debt than all other presidents that proceeded him combined. The debt grew 86% in 8 years Posted on 2/9/18 at 10:42 am to PhilipMarlowe
quote:
thanks trump.
Ya boi Barry did unprecedented damage, too, and you know it
Barry & Don, sittin' in a tree....
This post was edited on 2/9/18 at 10:43 am
Posted on 2/9/18 at 10:44 am to LSUTigersVCURams
quote:
Seriously how is it going to play out with the US national debt?
It's going to keep rising
Reps will blame Dems
Dems will blame Reps
America loses
Posted on 2/9/18 at 10:59 am to LCA131
quote:
They are approaching a quadrillion in national debt.
Yen not dollars. That's about $10 trillion.
Posted on 2/9/18 at 11:04 am to Ryne Sandberg
quote:
Time to cut defense spending and get serious
I think there are other solutions that would have a greater impact
Posted on 2/9/18 at 11:08 am to BACONisMEATcandy
I like that random remainder slice at 9.1%. They could just cut that shite out all together.
Posted on 2/9/18 at 11:28 am to TbirdSpur2010
Posted on 2/9/18 at 11:50 am to BACONisMEATcandy
There are a couple of economists that I like that predict the Great Depression 2.0 in the early 2030's when interest on the debt and entitlement spending (SS, Medicare, etc) surpass 50% of all government spending. Only a couple of solutions: cut entitlements and raise taxes...both lead to economic calamity.
I'm not saying this is sure to happen. Hopefully we'll come up with some creative solutions when it gets to crunch time, but I've learned not to depend on the government to solve any of my problems. The economists are the Beaulieu brothers with ITR Economics.
I'm not saying this is sure to happen. Hopefully we'll come up with some creative solutions when it gets to crunch time, but I've learned not to depend on the government to solve any of my problems. The economists are the Beaulieu brothers with ITR Economics.
Posted on 2/9/18 at 11:55 am to LSUTigersVCURams
National debt is not necessarily a bad thing. In essence, raising debt is often times seen as a positive in the face of budgetary concerns (i.e. how are we going to pay for public construction and maintenance of roads, bridges, highways, etc.). I'd argue that you shouldn't just look at how much national debt we have, but moreover why are we raising debt and what is the relative percentage of debt to GDP and future growth.
NPR put out a pretty good article, even though it is almost 10 years old now, on the basics of national debt. I'd suggest you take some time to read it to understand what debt is and why it's terrible to have.
LINK
Some good takeaways from the article:
NPR put out a pretty good article, even though it is almost 10 years old now, on the basics of national debt. I'd suggest you take some time to read it to understand what debt is and why it's terrible to have.
LINK
Some good takeaways from the article:
quote:
But debt is not necessarily all bad; as with households and companies, it depends on what you are doing with the money you borrow. For example, it can make sense for you to borrow money to pay for college or professional school, because higher education increases your lifetime earning potential. For many people, the increase in expected earnings more than compensates for the cost of the debt.
quote:
Imagine that the government has some amount of debt, say 20 percent of its gross domestic product, or GDP, at the beginning of the year. Assume it retires none of the debt, but it does pay off the interest on the debt, and its budget is exactly balanced. The next year, debt will be less than 20 percent of GDP, because GDP almost always goes up. Clearly the government can sustain the same level of debt by running small deficits forever, as long as GDP is increasing, because GDP is a close proxy for the tax base. And the higher your level of economic growth, the more additional debt you can take on each year.
quote:
The key issue is fiscal sustainability: the ability of a government to pay off its debt in the future, essentially by shifting its current obligations onto future taxpayers. Again, borrowing money that your children will have to pay back is not necessarily a bad thing; it depends on whether you use it to improve the world they will live in.
Posted on 2/9/18 at 11:59 am to LSUTigersVCURams
quote:
Are we going to say "screw you" and go to war with China for some reason over it?
I’m pretty sure most of the debt isn’t owed to foreign powers (only around $1.5 trillion to China). Most of the national debt is owed to ourselves.
Posted on 2/9/18 at 12:05 pm to Saintsisit
quote:
yen not dollars. That's about $10 trillion.
I apologize, you are correct. But look at the relationship between that size of national debt and their GDP versus our debt and our GDP. That is what is the key.
Also they are short .
Posted on 2/9/18 at 12:10 pm to jdeval1
quote:
Obama ran up more debt than all other presidents that proceeded him combined. The debt grew 86% in 8 years
Dumbest talking point ever and insanely ignorant.
Do some research on discretionary spending under Obama. Lowest of any administration in about 50 years outside of the stimulus package which was written during Bush's administration right before he left to try and prevent an outright depression.
Mandatory spending gonna mandatory spend.
Here is what will happen...
Since Trump and the republicans decided to add 2 more trillion on top of what was ALREADY going to be added with their idiotic tax cut, then both parties decided to talk on another 600 billion today, people better start to accept the fact a massive tax increase is coming in a couple of years just as the U.S. economy starts to slow down again.
Book it.
This post was edited on 2/9/18 at 12:11 pm
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