US national debt.
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Thread: US national debt.

  1. #1
    Don't be stupid. Array Sikorsky's Avatar
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    US national debt.

    *
    Practically speaking ........

    *Why the US credit rating was downgraded...

    • U.S. Tax revenue: $2,170,000,000,000
    • Fed budget: $3,820,000,000,000
    • New debt: $ 1,650,000,000,000
    • National debt: $14,271,000,000,000
    • Recent budget cut: $ 38,500,000,000

    To put that in perspective, let's remove 8 zeros and pretend it's a household budget:

    • Annual family income: $21,700
    • Money the family spent: $38,200
    • New debt on the credit card: $16,500
    • Outstanding balance on the credit card: $142,710
    • Total budget cuts: $385
    *


    *
    The difference between you and me .........

  2. #2
    ninja machinist Array Darkcbr's Avatar
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    They need to raise taxes ASAP if they want to even start digging themselves out. Not just reduce spending.

  3. #3
    Wanderer of the Wastes Array DNAspark99's Avatar
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    so, how long until the only real 'worth' of a US dollar bill is the heat you get by burning it?
    "I dread beyond all else the growth of the petty tyranny of restrictive legislation, the transference of disciplinary authority from the judiciary to the constabulary, the abandonment of every constitutional safeguard of individual liberty."

  4. #4
    Ridin Dirty Array vstromgreg's Avatar
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    Quote Originally Posted by DNAspark99 View Post
    so, how long SINCE the only real 'worth' of a US dollar bill is the heat you get by burning it?
    fixxed er for ya!


    Thanks Sikorsky...for putting it in a lanuguage anyone could understand....

    would like to see it done for our buget too... maybe next snowy day....
    Quote Originally Posted by Zug View Post
    Peewee and Kevin from Bayside should get together and start a bike shop called, Fuck you and the bike you rode in on.

  5. #5
    California dreamin' Array KatRider's Avatar
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    Yeah, I get that the Teaparty folks and Republicans do not want to raise taxes because the government "wastes" their money but jeez folks, simply cutting spending is not going to be enough. Too bad they are too clueless to understand that.
    Work sucks -- let's go riding!

  6. #6
    Registered User Array 4wheelsLESS's Avatar
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    Quote Originally Posted by DNAspark99 View Post
    so, how long until the only real 'worth' of a US dollar bill is the heat you get by burning it?
    When it will be at par with this currency.

  7. #7
    Proud Chicken Strip Owner Array Metalicspark's Avatar
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    Eventually the government is going to settle on all of us using the Euro as currency and having a one world government and then the US debt will be wiped away. Or we will all just get screwed over with it. Either way with the government, we get screwed over somehow.
    Don't pass up the thrills of life for the security of existence.

  8. #8
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    Quote Originally Posted by Sikorsky View Post
    *
    Practically speaking ........

    *Why the US credit rating was downgraded...

    • U.S. Tax revenue: $2,170,000,000,000
    • Fed budget: $3,820,000,000,000
    • New debt: $ 1,650,000,000,000
    • National debt: $14,271,000,000,000
    • Recent budget cut: $ 38,500,000,000

    To put that in perspective, let's remove 8 zeros and pretend it's a household budget:

    • Annual family income: $21,700
    • Money the family spent: $38,200
    • New debt on the credit card: $16,500
    • Outstanding balance on the credit card: $142,710
    • Total budget cuts: $385
    *


    *
    Two massive flaws in this quick analysis.

    First, the US debt plus obligations in total is closer to 200 trillion. The official Debt figure is Government accounting propaganda that only the Government can get away with, and

    The Fed/Treasury can print money/debt at will. A household can't do that and its balance sheet is actually nothing like the Government.

    So, raising taxes is completely useless, this thing will never be paid and in fact can never be paid but that is another economic dilemma called Triffin Dilemma.. essentially the US as a global reserve must expand its debt continuously or the global economy collapses.

    Answer, the US loses its reserve status and the US$ collapses to pay off debt likely triggering hyperinflation, not if but when WOOOHOOO, Get your gold/silver while it is cheap...

  9. #9
    Registered User Array 4wheelsLESS's Avatar
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    Quote Originally Posted by 03terminator View Post
    Two massive flaws in this quick analysis.

    First, the US debt plus obligations in total is closer to 200 trillion. The official Debt figure is Government accounting propaganda that only the Government can get away with, and

    The Fed/Treasury can print money/debt at will. A household can't do that and its balance sheet is actually nothing like the Government.

    So, raising taxes is completely useless, this thing will never be paid and in fact can never be paid but that is another economic dilemma called Triffin Dilemma.. essentially the US as a global reserve must expand its debt continuously or the global economy collapses.

    Answer, the US loses its reserve status and the US$ collapses to pay off debt likely triggering hyperinflation, not if but when WOOOHOOO, Get your gold/silver while it is cheap...
    Exactly, it was too simple. Other simple flaw to point out:

    - household may have cash income/expenses and/or other sources of income where things do not get recorded
    - goods & services may not be in form of cash but in a barter form
    - members of family providing support that contributes to the 'GDP' that will not show up.

    - and terminator already mentioned about the balance sheet...the US has many valueable assets but the people ARE and CAN be part of that valuable asset.

  10. #10
    Don't be stupid. Array Sikorsky's Avatar
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    I was never trying to solve the US debt problem, was never trying to take an account of their full worth.

    What I posted was something that gives your average Joe and idea of the numbers being thrown around.
    The difference between you and me .........

  11. #11
    Registered User Array 4wheelsLESS's Avatar
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    Quote Originally Posted by Sikorsky View Post
    I was never trying to solve the US debt problem, was never trying to take an account of their full worth.

    What I posted was something that gives your average Joe and idea of the numbers being thrown around.
    That is the danger with some average Joe's limited perception/tunnel vision as seen with the HST vote. They could be of good use to some as well I'm sure!

  12. #12
    backslider Array K-rod's Avatar
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    Everything's just fine down there folks. Nothing to see - no poverty, no unemployment, no ecological degradation, no white collar malfeasance ...

    Move right long now.

  13. #13
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    Quote Originally Posted by Sikorsky View Post
    I was never trying to solve the US debt problem, was never trying to take an account of their full worth.

    What I posted was something that gives your average Joe and idea of the numbers being thrown around.
    Not a personal criticism, "Joe Average" is reliant on the system and will defend it. They are not ready to be unplugged...

    Do you understand... There is no spoon...

    "Joe Average" is enslaved by the reality they have accepted and become dependent upon. To be critical of that reality is the first step in becoming free - for dependency is slavery. The system thrives on dependency.

    Once you understand that the spoon is the collective consciousness of the enslaved, you will begin to discover the truth.

    A US dollar (money) is a piece of paper with ink. It's value is derived by perception and coercion.. Truth is money = debt, reduce the (GOV) debt and the money is extinguished. Therefore, debt must (by necessary demands of the system) expand. If not, the system will collapse just as any ponzi would. Further, it is the systemic imperative of debt expansion that drives Government spending on the warfare or welfare state. Creeping Socialism for Corporations and the Individual exacerbates the dependency on the State and further enslaves in a collective orgy of "enlightened" despotism.

    There is no spoon...


  14. #14
    Don't be stupid. Array Sikorsky's Avatar
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    Oh my god. Now I just want to delete the whole damn thread.
    The difference between you and me .........

  15. #15
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    Quote Originally Posted by Sikorsky View Post
    Oh my god. Now I just want to delete the whole damn thread.
    There is no thread...

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