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Thread: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by reefedjib View Post
    Well, yes, except that according to the US Treasury it is a $54.7 trillion debt.
    That is true, I was talking about the published on budget debt, not the entitlement debt as well. Neither number means anything to a lot of people as the number is something they won't get concerned about until it affects them. That time is coming.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by Conservative View Post
    That is true, I was talking about the published on budget debt, not the entitlement debt as well. Neither number means anything to a lot of people as the number is something they won't get concerned about until it affects them. That time is coming.
    Well, I just prefer to use the entitlement debt as that is the more accurate number. It is the number we owe if entitlements do not change and how likely is that?

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by reefedjib View Post
    Well, I just prefer to use the entitlement debt as that is the more accurate number. It is the number we owe if entitlements do not change and how likely is that?
    100% unless we declare bankruptcy. There is no other choice.
    Wow. Am I awesome or what?

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by stekim View Post
    100% unless we declare bankruptcy. There is no other choice.
    Well, then, when that happens we can recalibrate the debt figure based on the new entitlement projections.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by reefedjib View Post
    Well, then, when that happens we can recalibrate the debt figure based on the new entitlement projections.

    Either way it's going to be freakin' high. The reason entitlements are not considered "debt" is because some portion of the payments will be made using actual taxes collected. We owe the money in the future, but that does not mean we'll need to borrow it. Just most of it!
    Last edited by stekim; 04-28-10 at 04:28 PM.
    Wow. Am I awesome or what?

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by reefedjib View Post
    Well, I just prefer to use the entitlement debt as that is the more accurate number. It is the number we owe if entitlements do not change and how likely is that?
    Very likely, it will go up

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by stekim View Post
    Either way it's going to be freakin' high. The reason entitlements are not considered "debt" is because some portion of the payments will be made using actual taxes collected. We owe the money in future, but that does not mean we'll need to borrow it. Just most of it!
    We could always print it.

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by reefedjib View Post
    We could always print it.
    Well, SS payments are tied to inflation (at least they are now). So printing money won't help so much because the payments will just keep getting higher!
    Last edited by stekim; 04-28-10 at 04:32 PM.
    Wow. Am I awesome or what?

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by stekim View Post
    Well, SS payments are tied to inflation (at least they are now). So printing money won't help so much because the payments will just keep getting higher!
    ****! That sucks!

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    Re: Financial Reform Talks Near Collapse, Some GOPers Threaten To Defect

    Quote Originally Posted by NoJingoLingo View Post
    No it is not known and we have this thing called "paper" which we can use to write down things like, history. But you're right, it doesn't matter who is in office because corporatists actually run the government.
    The problem is that this thing called "paper" is being used to write things like, money.
    The ghost of Jack Kevorkian for President's Physician: 2016

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