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Thread: US debt jumps a record $328 Billion

  1. #61
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by jonny5 View Post
    The agencies werent authorized to make bills, hence the shutdown.
    There were authorized up and until Sep 30th, and that is what the 328b bill was for: spending exceeded revenue by that amount from May->Sept

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by j-mac View Post
    Are we not bleeding production today? Our society is fast becoming a part time working society...
    The thing is, monetary velocity continues to trend downward as production (which took an initial dip) has been growing.

    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
    You must be joking.
    Negative. The CBO was projecting budget surpluses had the recession not happened.

    http://www.cbo.gov/sites/default/fil...getoutlook.pdf

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Samhain View Post
    If you read OMB publications prior up and until July 2008, they projected a budget surplus by FY2012
    Not that i am in disagreement, but i would appreciate it if you can provide one of those as a means of furthering this discussion.
    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 vasuderatorrent View Post
    Are the Republicans from solid red states deliberately sabotaging the chances of winning the presidency?

    vasuderatorrent
    No idea what youre getting at.

  6. #66
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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by jonny5 View Post
    Negative. The CBO was projecting budget surpluses had the recession not happened.

    http://www.cbo.gov/sites/default/fil...getoutlook.pdf
    In 2012, not in 2008 as you had claimed! Predictions predicated on a bubble economy. Which was rather naive given the fact that the U.S. was already in a recession.
    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
    Not that i am in disagreement, but i would appreciate it if you can provide one of those as a means of furthering this discussion.
    Sure thing

    http://www.gpo.gov/fdsys/pkg/BUDGET-...T-2009-MSR.pdf

    This was released on July 28th, 2008. It references that even with the existing recession, it still expected a .3% surplus/GDP in 2012.

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    Re: US debt jumps a record $328 Billion

    Quote Originally Posted by Kushinator View Post
    The thing is, monetary velocity continues to trend downward as production (which took an initial dip) has been growing.

    As a layperson, it would help if you could define for me what is meant by "production"?
    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 j-mac View Post
    As a layperson, it would help if you could define for me what is meant by "production"?
    Gross domestic product. In this case, nominal (meaning it has not been factored for inflation).
    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
    Gross domestic product. In this case, nominal (meaning it has not been factored for inflation).
    Have there been any changes in the way we factor GDP in the past, oh I don't know, say 5 years or so?
    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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