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Thread: US Debt Could Double in 25 Years With Current Policies

  1. #21
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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Tettsuo View Post
    Why allow the tax cuts to expire when we could just cut everything that makes American society not devolve us into a Somalia-like state?
    Balance the Budget=Instant Desertification and Tribal Warfare!
    "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Khayembii Communique View Post
    There's no need to pay down the deficit, just reduce it. The US would not be able to pay down its deficit without becoming an export based economy, which isn't going to happen.
    Umm, sure it can.
    "I have never understood why it is "greed" to want to keep the money you have earned but not greed to want to take somebody else's money." -Thomas Sowell

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by Mr. Invisible View Post
    He's quite correct. In a situation such as this the government should spend money to boost the economy and then when the good times come back. decrease spending and increase revenue to pay off the debt that was incurred from the stimulus. However, in real life, this doesn't happen, which is a reason why we even have this debt problem.
    well like i said before though austerity should be practiced under a good economy,as stimulous and large benefits are not needed,so the idea would be to cut costs and savemoney,when the next crisis hits that country would have super low debt,thus allowing borrowing at manageable levels to contain the crisis,then afterwards pay the debt back down and return to surplus.

    i know it doesnt work that way,but largely because many countries choose not to follow the path,yet ask why doing the opposite of keynesian economics gave the opposite results of what keynes said they would.keynes policy in essense was actually brilliant and allowed flexibility for both demand and supply side problems,and promoted austerity and stimulous where needed.

    alot of said debt problem was countries spending during good times,and spending during bad,under rule of gdp,income is relevant to gdp,hence why austerity is practiced under good gdp,and stimulous under bad.europe however is screwed either way,they can run stimulous until they go bankrupt and no one has jobs,run austerity where they live at great depression level poverty,or drop everything and restart.for a country like greece,rock bottomaint too bad,they are almost their anyways.let everything fall and restart the economy on the gold standard,allowing their money to retain some value,then rebuilding and switching back to an elastic currency,it would work great so long as they reformed their system and didnt re implement the same things that caused the last failure.
    “[The metric system is the tool of the Devil! My car gets forty rods to the hogshead, and that’s the way I likes it!” – Abe “Grampa” Simpson”

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    Re: US Debt Could Double in 25 Years With Current Policies

    I am quite sure that the U.S. national debt will double in far less then 25 years.

    Both parties have shown they are completely incompetent when it comes to balancing the budget.

    The national debt has risen 150% in just the last ten years - and the trend is getting worse, not better.

    The days of American economic supremacy are numbered unless drastic action is taken - and it won't be (imo).
    The politicians are too corrupt/economically stupid and the masses are too weak/economically stupid.

    The-National-Debt2.jpg

    http://www.google.ca/imgres?hl=en&sa...r:8,s:14,i:121
    Last edited by DA60; 06-07-12 at 08:07 AM.

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    Re: US Debt Could Double in 25 Years With Current Policies

    We are just going to be like every other empire that has ever been on the face of this earth. We are going to fall.

    We have the info. We have all the intelligence. No one wants to make the hard decision, so we are going to follow the path of every single empire before us.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

  6. #26
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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by DA60 View Post
    I am quite sure that the U.S. national debt will double in far less then 25 years.

    Both parties have shown they are completely incompetent when it comes to balancing the budget.

    The national debt has risen 150% in just the last ten years - and the trend is getting worse, not better.

    The days of American economic supremacy are numbered unless drastic action is taken - and it won't be (imo).
    The politicians are too corrupt/economically stupid and the masses are too weak/economically stupid.

    The-National-Debt2.jpg

    Google Image Result for http://theeconomiccollapseblog.com/wp-content/uploads/2010/12/The-National-Debt2.png
    The only little problem with this moronic "borrow your way to prosperity" plan is that most gov't "investments" are NOT in areas that produce any real return. Liberals see even crack babies born into the slums as "good investments", on par with a highway bridge maintanence program. Rather than do any real cost benefit analysis, gov't is basically "keep it all going" collection of special interest morons that see "equality" as meaning either everything is cut or everything is increased "equaly"; the cowboy poetry festival, the NASA art program and social security are ALL gov't programs, they ALL have costs and they ALL have benefits. Of course, this is just plain insane, but if your are on the "help the crack babies" sub, sub, sub-committee then that is your JOB and your sworn duty is to fund that little pet project, as much as possible, hoping it will bloom into a massive success and get you promoted to the NASA art program sub, sub-committee to help those crack babies learn to use gov't crayons to color in outlines of Mars rovers.

    How many times have we heard that "we" are going to go line by line, through the feaderal "budget" (do you remember when we last had one of those?) and cut "waste, fraud and abuse" or "programs that do not work for America"? The answer is both early and often in each election, all seem to run promising to "fix things" in DC, yet once they get that DC "dream job" the first order of business given them, is to take some "troubled" federal program and find a way to get it more funding by taking a slot on the "cowboy poetry festival" sub, sub, sub, sub-committee and being assured success there will move you up to "house speaker" or some other lofty post if you show that "can do" spirit, so vital to growing a fine and proper federal gov't to help ALL of the people in ALL areas of their lives.

    In private business, the CEO that plans to borrow massively and expand even the left-handed smoke-shifter unit of the Wonder Widget division of the outdoor garden products section of the depratment of the "neat-stuff-that-may-actually-sell-one-day" branch, is FIRED and told to get clean and sober. Gov't budgets SHOULD start with "this is how much we get in taxes each year", NOT with "this is how much we borrowed and spent last year" now ADD 1.4% (or maybe a little more) and 'git-r-done'!
    Last edited by ttwtt78640; 06-07-12 at 08:48 AM.
    “The reasonable man adapts himself to the world: the unreasonable one persists to adapt the world to himself.
    Therefore all progress depends on the unreasonable man.” ― George Bernard Shaw, Man and Superman

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    Re: US Debt Could Double in 25 Years With Current Policies

    The FED is talking about buying bonds today. Translation...we are printing money again. Devaluing our dollar, and causing inflation. JOY.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

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    Re: US Debt Could Double in 25 Years With Current Policies

    That's impossible, Obama said we haven't spent very much during his term, so we're on the right tra...



    OH SHI....

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    Re: US Debt Could Double in 25 Years With Current Policies

    Quote Originally Posted by JayDubya View Post
    That's impossible, Obama said we haven't spent very much during his term, so we're on the right tra...



    OH SHI....
    Unfortunately, that number isn't comprehendable to the average person. That is why I like this page.

    http://www.pagetutor.com/trillion/index.html

    On top of that...it has been

    1,135 days since the Senate passed a budget.
    Last edited by Blue_State; 06-07-12 at 09:31 AM.
    We went from sticks and stones may break my bones but words will never hurt me to safe spaces.

  10. #30
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    Re: US Debt Could Double in 25 Years With Current Policies

    The only idiotic thing we can do right now is NOT borrow more. In real terms, we are presently able to borrow at negative interest rates. If we borrow and spend the money on sensible things like infrastructure improvements those projects generally net a positive return return of at least a percentage or two in direct revenue enhancement going forward and over the long haul. And that isn't even considering keynsian amplification effects, if you're in the group that doesn't believe in keynsian economics. In other words, by not borrowing we are literally giving away free money.
    "The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."

    -- Adam Smith

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