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re: Debt Ceiling: At What Point Does this Have to Stop?
Posted on 3/3/17 at 9:27 am to goldennugget
Posted on 3/3/17 at 9:27 am to goldennugget
quote:
How?
Saying "Banks=Usury" in an unqualified way, then saying that not all banks are bad, but the big ones are.
It's clear now also that you are simply using "usury" in a scary-sounding but dishonest and in fact meaning-free way.
Posted on 3/3/17 at 9:28 am to AUbused
just curious because you are usually unhinged in your anger and vitriol...
Why is this now a concern? Did you not know about this trend for the past 8 years?
I actually share you concern but am wondering why I'm seeing this concern for debt from liberals all of a sudden.
An honest answer is fine even if that answer is admitting that it's because your side isn't in power any longer. I would get that.
Why is this now a concern? Did you not know about this trend for the past 8 years?
I actually share you concern but am wondering why I'm seeing this concern for debt from liberals all of a sudden.
An honest answer is fine even if that answer is admitting that it's because your side isn't in power any longer. I would get that.
Posted on 3/3/17 at 9:29 am to 90proofprofessional
Seems like he's really using another word for "Joo"
Posted on 3/3/17 at 9:30 am to Duke
quote:
Seems like he's really using another word for "Joo"
clearly, although i was kinda hoping to tease that out of him
eta: and it sounds like that's the "history" he's referring too as well, where 'the usurers' get 'thrown out of countries'
This post was edited on 3/3/17 at 9:32 am
Posted on 3/3/17 at 9:35 am to roadGator
quote:
I actually share you concern but am wondering why I'm seeing this concern for debt from liberals all of a sudden. An honest answer is fine even if that answer is admitting that it's because your side isn't in power any longer. I would get that.
My anger is directed toward Obamaphone Trumpkins who's lack of thought or integrity matches their predecessors stupidity.
The simple answer for why I personally created this thread is because the deadline is coming up and I heard the upcoming showdown being discussed. The truth of the matter is that its been a concern of mine for quite a while now. This graphic in particular, given its exponential nature is pretty scary looking. Couple that with, as another poster made clear above, our retirement accounts are on the hook for half the fricking debt.
Of course you will have partisan liberals who will now care since Obama is gone........and at the same time you'll have "conservatives" who no longer give a shite because its their guy spending. Just like W.
This post was edited on 3/3/17 at 9:38 am
Posted on 3/3/17 at 9:54 am to zatetic
quote:
Lincoln and Jackson being prime examples
If have to go back this far then I'll stick with my "it ain't stopping" narrative.
Posted on 3/3/17 at 10:11 am to AUbused
One of the biggest chunks of that debt is contained in the social security trust fund, because currently social security taxes take in more than it pays out. They 'invest' that money in Treasury bonds, which turns those SS dollars into money they can then blow on their pet projects. So the upcoming crisis is going to spike as more and more people try to draw SS and the bonds in that fund have to be paid back from tax revenue. They can cut a big chunk off of that by raising the age to draw SS to help with the boomers, and then the situation will get a little better as they die off and gen x becomes old, as it's much smaller than the boomers and millenials are much larger generation, so the tax base situation will reverse for a while
This post was edited on 3/3/17 at 10:49 am
Posted on 3/3/17 at 10:13 am to the808bass
quote:
10% cut in spending. Across the board.
LO f'ing L. Trump increased defense spending last week.
Posted on 3/3/17 at 10:16 am to wfallstiger
Looking at the chart, can we just shut down the Govt, for a few years....
Posted on 3/3/17 at 10:50 am to the808bass
quote:
Easy solution, 10% cut in spending. Across the board.
Want to know what's even scarier? 10% across the board wouldn't do it.
.....FY..........Revenues(B)....Outlays(B)....Deficit(B)
....2010...........2162.7.........3457.1...........-1294.4
....2011...........2303.5.........3603.1...........-1299.6
....2012...........2450.0.........3537.0...........-1087.0
....2013...........2775.1.........3454.6.............-679.5
....2014...........3021.5.........3506.1.............-484.6
....2015...........3249.9.........3688.3.............-438.4
Now let's look at this with a 10% cut in spending...
.....FY..........Revenues(B)....Outlays(B)....Deficit(B)
....2010...........2162.7.........3111.4............-948.7
....2011...........2303.5.........3242.8............-939.3
....2012...........2450.0.........3183.3............-733.3
....2013...........2775.1.........3109.1............-334.0
....2014...........3021.5.........3155.5............-134.0
....2015...........3249.9.........3319.5..............-70.0
So while it would be a good start, we would still be in an annual deficit had we been doing such cuts for the past 6 years. And that's *IF* you could get everyone to not just agree on the across-the-board 10% cut, but also agree that it was a true cut and not just a cut in the growth of spending.
This post was edited on 3/3/17 at 10:53 am
Posted on 3/3/17 at 11:16 am to AUbused
quote:
AUbused
To your original point, the point that it had to stop about 15 years ago. Instead, it's increased.
And before anyone starts throwing party-first rhetoric around, this happened and continues to this day while both parties have had control of not just the Presidency but both chambers of Congress. This is a problem with Washington increasing deficit spending but never cutting back enough to have a surplus to pay down the debt.
We know (as shown in my previous post) that Congress will never make the cuts necessary to begin paying down the debt. When even a 10% across-the-board cut doesn't do it, we are well and truly fricked. So instead of asking when does it have to stop, the question everyone should be asking is "when does it all crash?"
While revenues are indeed increasing, they're still being outpaced by spending. With the US Dollar being a fiat currency, the only thing that's keeping us afloat is that we're still the skinniest kid in fat camp. As we continue to spend more than we earn though, that gets closer and closer to changing. Eventually we'll hit a point of no return and hyper-inflation will kick in as the Dollar tanks.
Unless something drastically changes I believe we'll hit the point of no return around the mid to late 2020's (when the debt reaches $25-$30T but annual revenues have reached only ~$4-$5T) unless we're still benefiting from being the (by far) major economic powerhouse in the world.
Posted on 3/3/17 at 11:17 am to TrebleHook
quote:
only got a C in college algebra but that looks like a parabola
It is a parabola, but a downward one... I.e. that the rate of change is decreasing.
One shouldn't try and mistake this for any sort of political sentiment.
Posted on 3/3/17 at 12:03 pm to Aubie Spr96
Just wish they would show a little fiscal responsibility in the white house for once. But now the spending has gotten out of control.
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