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Thread: Hummel: The US Will Default On Its Debt

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    Re: Hummel: The US Will Default On Its Debt

    Quote Originally Posted by Voidwar View Post
    Why, do those nations have the same history of working with our enemies and downing our planes ? Stealing our intellectual property and sending us lead covered toys ? To put your whole point away for good, WE CAN single out one nation, and all nations already know it.
    Those other nations would view that as a cheap pretext to avoid paying our debt...and they'd be right. What happens if any other nation does something in the future that pisses the United States off, as they invariably will since they have different interests? How could they be sure we wouldn't do the same thing to them, and why wouldn't they take that into account when determining our credit worthiness?
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    Re: Hummel: The US Will Default On Its Debt

    Wasn't our total debt highest during the Reagan years? As compared to our GDP?

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    Re: Hummel: The US Will Default On Its Debt

    Quote Originally Posted by sazerac View Post
    Wasn't our total debt highest during the Reagan years? As compared to our GDP?
    I think our debt-to-GDP ratio was the highest its ever been at the end of WWII...
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    Re: Hummel: The US Will Default On Its Debt

    Quote Originally Posted by sazerac View Post
    Wasn't our total debt highest during the Reagan years? As compared to our GDP?
    According to this chart which I believe to be accurate, it was highest under Truman and then continued to rise with Clinton before it started to decline then increase again with Bush II.

    But under Obama, it is now climbing to levels that rival the Truman years and may even exceed them if the economy does not start making a comeback.

    Now I must ask you, was there a point here?

    U.S. National Debt Graph: Since Great Depression

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