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Thread: US debt jumps a record $328 Billion

  1. #51
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by j-mac View Post
    Didn't they try that already in Weimar?
    What is Weimar?

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by jonny5 View Post
    We almost had a balanced budget in 2007 with a Republican President, and Democrat House/Split Senate.. The deficit had dropped to 160bn and was likely to balance in fy2008, had the recession not hit.
    Are the Republicans from solid red states deliberately sabotaging the chances of winning the presidency?

    vasuderatorrent

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by sookster View Post
    What is Weimar?

    Weimar Republic - Wikipedia, the free encyclopedia
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  4. #54
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    Re: US debt jumps a record $328 Billion

    Why does humanity continue to use the fiat currency model? It makes no sense.

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by jonny5 View Post
    We almost had a balanced budget in 2007 with a Republican President, and Democrat House/Split Senate.. The deficit had dropped to 160bn and was likely to balance in fy2008, had the recession not hit.
    You must be joking.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US debt jumps a record $328 Billion

    Printing money without the necessary production to back it leads to hyperinflation. After WWI, Germany's productive capacity was decimated. War reparations were to be paid and the rest is history.
    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.
    "Wealth of Nations," Book V, Chapter II, Part II, Article I, pg.911

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Kushinator View Post
    Printing money without the necessary production to back it leads to hyperinflation. After WWI, Germany's productive capacity was decimated. War reparations were to be paid and the rest is history.
    Are we not bleeding production today? Our society is fast becoming a part time working society...
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

  8. #58
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by sookster View Post
    Why does humanity continue to use the fiat currency model? It makes no sense.
    Agreed, it doesn't...What is even crazier is to think that we can just continue to continually overspend based on how much we can borrow.
    Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.

    Alexis de Tocqueville

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Kushinator View Post
    You must be joking.
    If you read OMB publications prior up and until July 2008, they projected a budget surplus by FY2012

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Deuce View Post
    The treasury was paying its bills by borrowing from funds already allocated for other future projects, and deferring payments where able. They'd been doing so for five months.

    Now they have to replenish those borrowed funds because those other projects are still happening.
    The agencies werent authorized to make bills, hence the shutdown.

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