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Thread: California economist says real US debt $70 trillion

  1. #21
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    Re: California economist says real US debt $70 trillion

    Quote Originally Posted by Grant View Post
    The writing has been on the wall in the US for at least a decade but many still don't recognize it, just as they fooled themselves about Detroit and several other cities.

    Are you still with the Kool Aid and believing these political opportunists?

    Obama Flashback: ‘We Refused to Let Detroit Go Bankrupt’ | Video | TheBlaze.com
    Everybody knows what Obama was talking about regarding that quote.
    “Capitalism is the astounding belief that the most wickedest of men will do the most wickedest of things for the greatest good of everyone.” John Maynard Keynes

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    Re: California economist says real US debt $70 trillion

    Quote Originally Posted by Erod View Post
    This is not a Republican-Democrat issue, folks. This is threatening to end this country as we know it, in the not-to-distant future.

    And yet, we seem bent on piling on more and more burden and stress to the budget year after year.

    I would not want to be a newborn baby in this country today. The future is bleak.
    So you cool with cutting the ginormous money sucking defense budget or should welfare and entitlement programs only be touched?
    “No men are anywhere, and I’m allowed to go in, because I’m the owner of the pageant and therefore I’m inspecting it,” Trump said... “‘Is everyone OK’? You know, they’re standing there with no clothes. ‘Is everybody OK?’ And you see these incredible looking women, and so I sort of get away with things like that.”

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    Re: California economist says real US debt $70 trillion

    Quote Originally Posted by iliveonramen View Post
    Everybody knows what Obama was talking about regarding that quote.
    And so they should. He was quite clear.

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    Re: California economist says real US debt $70 trillion

    "Unfunded liability" is a completely meaningless term. You can make up whatever timeframe and revenue scenario you want.

    I've seen it "estimated" as high as $200 trillion or higher. This was over like 100 years or more and assumed zero revenue growth.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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    Re: California economist says real US debt $70 trillion

    The formulas are tough to construe and you can play with them however you like. Some can show a 70 trillion shortfall and others 200 trillion. You are
    correct in noting that most don't account for perceived growth in revenues, inflation, and some use current stagnation rates to illustrate a massive shortage
    instead of a historical reference. I would like to see what these numbers would be with a 50 year average of GDP growth?

    Now just because the libertarians like to play with unfunded mandate numbers does not mean overspending and $17 trillion in actual debt is not a problem.
    It is a huge problem.

    Our nation faces a big change ahead. That change is being hastened by incurring such a significant debt. That change is when the people in other countries
    around the world decide they don't have faith in the US Dollar any longer and would prefer to exchange goods / products in another currency. When that happens
    our debt will be wiped out I suspect with inflation.


    Quote Originally Posted by Deuce View Post
    "Unfunded liability" is a completely meaningless term. You can make up whatever timeframe and revenue scenario you want.

    I've seen it "estimated" as high as $200 trillion or higher. This was over like 100 years or more and assumed zero revenue growth.

  6. #26
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    Re: California economist says real US debt $70 trillion

    Quote Originally Posted by Kushinator View Post
    Not really, no.

    If i owe $100k on my house, but will repay a total of $240k by the time it is payed off, do i count the unfunded liability (amortized interest + principal) against my net worth?
    Considering that you continue to buy houses that don't appreciate in value, only an idiot would ignore their liabilities.

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    Re: California economist says real US debt $70 trillion

    Quote Originally Posted by CalGun View Post
    When that happens our debt will be wiped out I suspect with inflation.
    The country will be wiped out as well because the currency will be useless.

    There are no stats available but, like Detroit, many who better understand economics are leaving and there is talk of secession from other States. This economic bungling, corruption and huge debt cannot end well for this generation of Americans.

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    Re: California economist says real US debt $70 trillion

    Quote Originally Posted by Middleground View Post
    So you cool with cutting the ginormous money sucking defense budget or should welfare and entitlement programs only be touched?
    You mean, "so you cool with continuing to cut the ginormous money sucking defense budget or should we actually start touching welfare and entitlement programs"

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    Re: California economist says real US debt $70 trillion

    Quote Originally Posted by Taylor View Post
    You mean, "so you cool with continuing to cut the ginormous money sucking defense budget or should we actually start touching welfare and entitlement programs"
    These programs, among many thousands of others, will either be cut by a responsible government or reality will cut them for you.

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    Re: California economist says real US debt $70 trillion

    Quote Originally Posted by CalGun View Post
    The formulas are tough to construe and you can play with them however you like. Some can show a 70 trillion shortfall and others 200 trillion. You are
    correct in noting that most don't account for perceived growth in revenues, inflation, and some use current stagnation rates to illustrate a massive shortage
    instead of a historical reference. I would like to see what these numbers would be with a 50 year average of GDP growth?

    Now just because the libertarians like to play with unfunded mandate numbers does not mean overspending and $17 trillion in actual debt is not a problem.
    It is a huge problem.

    Our nation faces a big change ahead. That change is being hastened by incurring such a significant debt. That change is when the people in other countries
    around the world decide they don't have faith in the US Dollar any longer and would prefer to exchange goods / products in another currency. When that happens
    our debt will be wiped out I suspect with inflation.
    Right, nobody is saying we should just totally ignore debt. I'm just saying we can talk about it like adults instead of making up fantasy numbers to make it sound scarier than it really is.
    He touched her over her bra and underpants, she says, and guided her hand to touch him over his underwear
    Quote Originally Posted by Lutherf View Post
    We’ll say what? Something like “nothing happened” ... Yeah, we might say something like that.

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