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Thread: US debt jumps a record $328 Billion

  1. #31
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by The Mark View Post
    I think, perhaps, the main issue we have with the economy is that very few people have even the slightest understanding of how it works, and even those few cannot predict everything that happens.

    Edit: For example, I have no idea...I read your post and it only confused me more.
    Sounds like an apt description of the situation.

  2. #32
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by ItAin'tFree View Post
    U.S. debt jumped a record $328 billion on Thursday, the first day the federal government was able to borrow money under the deal President Obama and Congress sealed this week.

    The debt now equals $17.075 trillion, according to figures the Treasury Department posted online on Friday.


    Read more: U.S. debt jumps a record $328 billion
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    LOL. This is what Obama and the Dems were holding out for. Nothing they did will make it any better either, only worse. But the people that are sick of this kind of nonsense are "Stupid", "Lunatics", "hostage takers" and a host of other silly terms designed to hide the problems the government is in. LOL.
    I always like this one to keep an eye on the National Debt. http://www.usdebtclock.org/

    It might feel a little scary at first. But one rapidly understands that here hides a clear and present danger.
    Last edited by joG; 10-20-13 at 07:47 AM.

  3. #33
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by sookster View Post
    Bah. The treasury can just print money. It doesn't borrow.
    Yes. This is how government money works. That method doesn't work good and hyperinflation happens too soon. Governments all over the world now use something similar to our Federal Reserve. By law the United States government cannot print it's own money. The Federal Reserve Act of 1913 requires us to borrow needed funds from the Federal Reserve. The Federal Reserve treats the government as an actual customer sitting down to apply for a loan. The Federal Reserve makes the determination of whether the U.S. government would be capable of paying back that loan or not. I'm sure there is more to it than what I know.

    I just wanted to clarify that the U.S. Government can't just print money to pay it's bills. Ron Paul is an advocate of abolishing the federal reserve. Once that happens then our government can go back to printing it's own money but we haven't done that in exactly 100 years.

    blah blah blah so on and so forth. If this post gets too long nobody will read it.

    vasuderatorrent

  4. #34
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by vasuderatorrent View Post
    Yes. This is how government money works. That method doesn't work good and hyperinflation happens too soon. Governments all over the world now use something similar to our Federal Reserve. By law the United States government cannot print it's own money. The Federal Reserve Act of 1913 requires us to borrow needed funds from the Federal Reserve. The Federal Reserve treats the government as an actual customer sitting down to apply for a loan. The Federal Reserve makes the determination of whether the U.S. government would be capable of paying back that loan or not. I'm sure there is more to it than what I know.

    I just wanted to clarify that the U.S. Government can't just print money to pay it's bills. Ron Paul is an advocate of abolishing the federal reserve. Once that happens then our government can go back to printing it's own money but we haven't done that in exactly 100 years.

    blah blah blah so on and so forth. If this post gets too long nobody will read it.

    vasuderatorrent
    Good post. What I am also trying to say is you can print money to pay your bills (the system is sustainable based on factors), but history has shown that it eventually leads to collapse. It isn't just the recent turn of events. Ancient China was credited for the first modern economy, meaning, fiat currency. They were so sophisticated it wasn't even funny. Knowing about chromium processes in metal work, to creating a computer that calculates the position of the stars relative to our own. And, they made a printing press. And, they printed their own money. They were grand. They have created the eighth wonder of the world. And we know that the empire collapsed internally. Something tells me with how things have been working recently as well as the lessons from ancient china, that it is just a matter of time.

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    Re: US debt jumps a record $328 Billion

    Cruz and the baggers made their choice to be destructive and so now it shouldn't be hard to blame this on them. Along with the Dems, the mainstream GOP and big business will be onboard with that blaming.

    For extremists, what goes around comes around!

  6. #36
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Michael66 View Post
    Cruz and the baggers made their choice to be destructive and so now it shouldn't be hard to blame this on them. Along with the Dems, the mainstream GOP and big business will be onboard with that blaming.

    For extremists, what goes around comes around!
    Debt issues far predate both Obama and whoever it is you're referring to.
    Education.

    Sometimes I think we're alone. Sometimes I think we're not. In either case, the thought is staggering. ~ R. Buckminster Fuller

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Michael66 View Post
    Cruz and the baggers made their choice to be destructive and so now it shouldn't
    be hard to blame this on them. Along with the Dems, the mainstream GOP and big business will be onboard with that blaming.

    For extremists, what goes around comes around!
    Only low information partisan hacks blame the shut down on the Tea Party and/or blame the suppposed "damage" done by the shut down on the Tea Party.

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by The Mark View Post
    Debt issues far predate both Obama and whoever it is you're referring to.
    Yeah. It's been going on for thousands of years yet the earth still turns and the sun still rises.

    vasuderatorrent

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Fenton View Post
    Only low information partisan hacks blame the shut down on the Tea Party and/or blame the suppposed "damage" done by the shut down on the Tea Party.
    Let me guess, you're one of those people who thinks Obama personally determined every effect of the shutdown.
    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: US debt jumps a record $328 Billion

    Quote Originally Posted by Fenton View Post
    Only low information partisan hacks blame the shut down on the Tea Party and/or blame the suppposed "damage" done by the shut down on the Tea Party.
    I'm not aware of any damage caused by the shutdown.

    vasuderatorrent

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