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Fiscal Cliff put into perspective

Posted on 10/25/23 at 8:40 pm
Posted by WPBTiger
Parts Unknown
Member since Nov 2011
30972 posts
Posted on 10/25/23 at 8:40 pm
Posted by POTUS2024
Member since Nov 2022
11068 posts
Posted on 10/25/23 at 8:42 pm to
Obviously raise the ceiling. How else is my neighbor going to steal free wifi from me?
Posted by Coastal Tiger
Along the vanishing Louisiana coast
Member since Apr 2005
2131 posts
Posted on 10/25/23 at 8:44 pm to
If it were only as simple as the photo.
It’s not, but go on believing it is.
Downvote away.
Posted by Y.A. Tittle
Member since Sep 2003
101387 posts
Posted on 10/25/23 at 8:45 pm to
What about the photo suggests any of that is “simple”?
Posted by BlackHelicopterPilot
Top secret lab
Member since Feb 2004
52833 posts
Posted on 10/25/23 at 8:46 pm to
“Hey guys, this will be hard so let’s not do it”
Posted by moneyg
Member since Jun 2006
56463 posts
Posted on 10/25/23 at 9:01 pm to
quote:

If it were only as simple as the photo.
It’s not, but go on believing it is.
Downvote away.




We are in a SHITLOAD of pain for a long time if we fix it.

The alternative is worse.
Posted by Lynxrufus2012
Central Kentucky
Member since Mar 2020
12149 posts
Posted on 10/25/23 at 9:09 pm to
Weirmar Republic ended over it. Inflation leads to economic hardships which lead to dictatorships.
Now tell me again how hard it is to fix given that alternative.
Posted by Bass Tiger
Member since Oct 2014
46031 posts
Posted on 10/25/23 at 9:24 pm to
Try this one for perspective....

The nearest star outside of Earth's planetary system is Alpha Centauri, it's 25 trillion miles from earth, that's around 4 light years from earth.....light travels at approximately 186,000/sec

The US debt is over $33 trillion. I wonder how long it would take to count to 33 trillion? According to Google using a normal pace it takes approximately 32,000 years to count from 1 to 1 trillion.......32,000 x 33.....you do the math but it's over 1,000,000 years to count to 33 trillion.

We measure the distance between stars using light years rather than trillions of miles, seems we need to establish a new measurement for US debt because $33 trillion is inconceivable to most Americans.
Posted by MrPink99
Member since Oct 2023
48 posts
Posted on 10/25/23 at 9:32 pm to
It’s not even an if but it’s when there’s gonna be a major collapse the bottom falls out and it’s gonna be a free for all you’re gonna see hell on earth these next ten years
Posted by Big Scrub TX
Member since Dec 2013
33403 posts
Posted on 10/25/23 at 9:34 pm to
quote:

Fiscal Cliff put into perspective
Now add in:

the power to print money
the power to tax
tens of trillions in assets - for starters, the US gov owns something like 650 million acres of land


I understand the point of the figures you posted, but the fact is, the US gov is NOT a household. It's the largest and most powerful sovereign entity in the history of the world - replete with the most powerful military in of all time.
Posted by Tigers0918
Member since Feb 2020
1291 posts
Posted on 10/25/23 at 9:35 pm to
Granted, the yearly deficit is too high, but anyone who compares the national debt to a credit card knows absolutely nothing about national economics and how the debt and GDP actually work.
Posted by Bass Tiger
Member since Oct 2014
46031 posts
Posted on 10/25/23 at 9:41 pm to
quote:

tens of trillions in assets - for starters, the US gov owns something like 650 million acres of land



None of that ^^^ is easily fungible to settle up the US debt. The only way US debt can be controlled and reduced is to increase GDP to over 4% for several years and reduce government spending by 10-20% during that same period of economic growth.
Posted by Big Scrub TX
Member since Dec 2013
33403 posts
Posted on 10/25/23 at 10:07 pm to
quote:

None of that ^^^ is easily fungible to settle up the US debt.
Well, again, unlike a household, it's not clear at all that the debt must be "settled up".

quote:

The only way US debt can be controlled and reduced is to increase GDP to over 4% for several years and reduce government spending by 10-20% during that same period of economic growth.
And that would still be a drop in the bucket.
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