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Thread: U.S. GDP Grows Just 1.3%

  1. #61
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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    We default by failing to pay any of our obligations -- it isn't just down to debt sevice.
    Name our obligations? you think the total 3.7 trillion dollar budget is an obligation? The only obligations we truly have are to the debt holders, our military, our veterans, and our SS/Medicare Recipients. Stop buying the Obama rhetoric

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Objective Voice View Post
    Come on, Conservative. You know that's not how it works. The revenue comes in, Treasury pays it out. This happens each and every month of the year; it never stops. If it did, Treasury would be able to stockpile cash and pay bills at its discretion. By law, it simply cannot do that. It can't pick and choose which bills it will pay and which bills it can't or won't pay, not unless some tragedy happens such as what may happen if the debt limit isn't raised or a budget isn't passed by Congress. We got the budgets for FY10 and 11 out the way; now, we just have to resolve this debt limit issue.
    I know how it works, take money from the American taxpayer and use it to fund a bloated federal bureaucracy that has out of control spending then convince the braindead the govt. is there to help us all. BS.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    We default by failing to pay any of our obligations -- it isn't just down to debt sevice.
    It is. We default by failing to pay our debts. If you have a mortgage you don't default because you cancel your internet service.

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by RStringfield View Post
    It is. We default by failing to pay our debts. If you have a mortgage you don't default because you cancel your internet service.
    By failing to pay for your internet service you default on your obligation to pay for your internet service. You think it's not going to affect your credit rating?

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by RStringfield View Post
    It is. We default by failing to pay our debts. If you have a mortgage you don't default because you cancel your internet service.
    Er wrong analogy.... big time. You are not cancelling your internet service, you are not paying for your internet service but still have a contract with the internet service provider. If you wanted to cancel your internet service, then you would have done it already.. which you have not done.
    PeteEU

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by AdamT View Post
    By failing to pay for your internet service you default on your obligation to pay for your internet service. You think it's not going to affect your credit rating?
    The difference is most of the default would be for govt. agencies not outside services. Default didn't seem to matter when Govt. Motors(GM) defaulted with its bond holders and creditors? don't recall Obama take over saving those investors and creditors?

    We have been through this for 2 1/2 years now so why do you keep buying the Obama lies?

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Objective Voice View Post
    donsutherland1 and CriticalThought are the only posters to this thread who make sense. If you pay attention to the economic indicators, you're really not throwing yourself into a panic over what's happened with the economic growth numbers. They are relatively close to what most economist expected. A -0.5% difference (1.8 - 1.3) isn't much to panic about. The economy's in the ballpark of analysist estimates.
    hehe.. A half a percentage point is a huge, and I mean HUGE number, what the hell are you talking about? Also, is it just me, or is anyone else tired of the gobbly goop mumbo jumbo economist word-speak coming from Washington, and Wall St.? I mean, really now. They all try to sound like they have some unique insight into the compexities of our economy, and the truth is that they don't. We KNOW what the damn problem is, but no one is willing to simply admit it...

    It has been proven (About the only thing that is a mathmatical axiom) that exponential growth is unsustainable.. PERIOD! We cannot contnue growing in any area, economic, population, or anything without periods of slowing down, or decrease in growth.. It's that simple. That's why bubbles always burst, and every honest economist KNOWS this is true!

    Time we stopped pretending to know more than we know..


    Tim-
    “When buying and selling are controlled by legislation, the first things to be bought and sold are legislators.” - P. J. O’Rourke
    “Socialism is great until you run out of someone elses money” Margaret Thatcher

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by RStringfield View Post
    It is. We default by failing to pay our debts. If you have a mortgage you don't default because you cancel your internet service.
    As much as some of us (apparently a minority) would like to "cancel internet service" (i.e. choose to cut monthly spending) - that's different than simply failing to pay the bill. No, it's not going to default your mortgage, but it could certainly harm your credit rating.

    -----

    I can certainly see reason for caution on both sides as to how "default" is defined. Technical default, which is certainly undesirable, should not be equated with debt service debt in an "it's all default so let's treat it the same" argument. On the flip side, it seems to me that many who make the claim that technical default isn't really a "true" default (not necessarily you in particular) are hiding behind symantics rather than discussing the very real impact of failing to make those payments (regardless of how one wishes to define "default").

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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Conservative View Post
    You don't see a problem with accepting such low expectations especially 2 years after the end of the recession?
    I don't see what everyone is upset about. The recession ended two years ago.
    Quote Originally Posted by faithful_servant View Post
    Being a psychiatric patient does not mean that you are mentally ill.



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    Re: U.S. GDP Grows Just 1.3%

    Quote Originally Posted by Thorgasm View Post
    I don't see what everyone is upset about. The recession ended two years ago.
    Of course it did and .4% GDP growth first qtr and 1.3% GDP growth the second quarter are awesome liberal results along with the following 2 1/2 years after taking office.

    Obama record, 15.1 million officially unemployed TODAY 2 1/2 years later, 16.2% total unemployment or underemployment over 24 million TODAY, 4 trillion added to the debt as of the end of fiscal year 2011, and a rising misery index(7.83 to 12.67).

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