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malo2

U.S bankrupt in T minus....

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Actually, most of that nine trillion is covered by collaterals. So we aren't TRULY in that much debt, but that's the monetary value of all of what we owe (most of which is covered).

 

 

 

And Guthix121, lol. I think we are covered if the Mexicans and Canadians attempt to sack us.


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Some day that debt is going to come due... Problem is, that means that in order to pay it the government is going to have to tax people like there is no tomorrow. Anybody who knows much about macroeconomics knows that taxing slows growth, and can actually generate recession... that means that in the end (and at this point it is probably already inevitable) either there is going to be depression like we have never known or the federal government is going to fail to meet a lot of obligations that it has made or both. In any case it is going to be highly unpleasant for everybody alive at that time and especially for people who are in some way associated with the governmen.


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"You must picture me alone in that room in Magdalen, night after night, feeling, whenever my mind lifted even for a second from my work, the steady, unrelenting approach of Him whom I so earnestly desired not to meet. That which I greatly feared had at last come upon me. In the Trinity Term of 1929 I gave in, and admitted that God was God, and knelt and prayed: perhaps, that night, the most dejected and reluctant convert in all England. I did not then see what is now the most shining and obvious thing; the Divine humility which will accept a convert even on such terms. The Prodical Son at least walked home on his own two feet. But who can duly adore that love which will open the high gates to a prodigal who is brought in kicking, struggling, resentful, and darting his eyes in every direction for a chance of escape? The words compelle intrare, compel them to come in, have been so abused by wicked men that we shudder at them; but, properly understood, they plumb the depth of the Divine mercy. The hardness of God is kinder than the softness of men, and His compulsion is our liberation."

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Here's my plan; second I get enough for a house... moving to Canada. Even if the economy wasn't going down the drain, I would still move to Canada, because it rocks. :XD:

 

 

 

I really don't see why we pay so much for a military and get involved in what we shouldn't be in. To save time and money, we should just leave (or nuke them, but others wouldn't take that too well). It's not the cold war anymore, we aren't at the threat of all out war, we don't need that big of an army. If it did come down to that, I could see why we'd have one, but it isn't.

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Some day that debt is going to come due... Problem is, that means that in order to pay it the government is going to have to tax people like there is no tomorrow. Anybody who knows much about macroeconomics knows that taxing slows growth, and can actually generate recession... that means that in the end (and at this point it is probably already inevitable) either there is going to be depression like we have never known or the federal government is going to fail to meet a lot of obligations that it has made or both. In any case it is going to be highly unpleasant for everybody alive at that time and especially for people who are in some way associated with the governmen.
every country owes debt to other countries, nobody is complaining because they pay interest. It's funny that you suggest that someday the debt will be due, if anybody ever complains about the debt owed to the U.S, they have the largest military in the world to answer to.

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B) Social Securities going kaput >_>.

 

 

 

we have known this for how long? lemme think. . . . . . . under any law i could find this is completely illegal from the start.

 

 

 

to quote star wars: "So this is how freedom dies..."


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Some day that debt is going to come due... Problem is, that means that in order to pay it the government is going to have to tax people like there is no tomorrow. Anybody who knows much about macroeconomics knows that taxing slows growth, and can actually generate recession... that means that in the end (and at this point it is probably already inevitable) either there is going to be depression like we have never known or the federal government is going to fail to meet a lot of obligations that it has made or both.

 

 

 

Or the third option which they are doing which is to print off money creating it out of thin air thus inflating everyone else's money so we all have less. It's like a ninja stealth tax that most people don't pick up on.


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Trillion? :lol: haha

 

 

 

Not sure which part you find funny.. :? The US national debt IS around $9 trillion dollars.

 

 

 

Or maybe you didn't know trillion is a real number as well... 9 trillion dollars= 9000 billion dollars.

 

 

 

If that's still hard to grasp, americans owe over 9000000000 million dollars to other countries. Each citizen of the US is about $30,000 in debt to other nations. That's almost the amount the american economy is worth annually.

 

 

 

Although I agree with you, your statement isn't entirely correct. According to gov't site(dl the links), we owe about 4-5 trillion dollars to our own treasury.

 

Ya, it's pretty weird :P .

 

 

 

Here's the basic US debt breakdown:

 

 

 

usdebtan1.th.png

 

 

 

Ya, we owe a lot to other nations BlueLancer, but most of it we actually owe to ourselves :P .


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Green Party... :XD:

 

 

 

i miss clinton. :cry:


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Go Obama 08!!

 

 

 

You want to vote for a guy who won't even pledge to the flag? Wow...

 

 

 

 

 

 

 

 

 

Anyway, we're in debt. It sucks. We all know it. No need to make a thread about it.

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I didnt watch the whole video but if its about the government being in debt this is what i have to say.

 

 

 

Government being in debt isnt really a bad thing, in fact everytime the US govenerment has not been in debt (if i recall) their was a depression.

 

 

 

as for the debt coming due. I doubt that.

 

 

 

Gabe93walla: you dont know much do you. the US has been in a "war economy" sense like WW1 when we started spending over 50% of the budget on the military.

 

 

 

However i agree if all else fails we can cut back some on military spending, but i doubt we would as the US likes to be on top in that area.

 

 

 

and i think your forget the US is still the richest country in the world

 

-But wait what about the $9 trillion debt... if the US sold every thing that was of value in any major US city. It would be worth far more then that. I bet (though i havent looked at the numbers). that if the US didnt spend anything on funding anything new. it could probably pay off that debt whenever. However, If you remember your history a man named hamilton (i think that was his name). said that national debt isn't a bad thing.

 

The point is while it could become a problem its not gonna be the end of the US. Id be more concerned about nuclear war, or those days that are supposed to end the world (like 2012). Though I dont worry about those either.

 

 

 

The main point is that nothing good will really come of paying off the debt.

 

 

 

Do some research and find out what happens when a government has no debt. If memory serves me right it causes a depression... im not saying havent a high debt is good but im not worried about the current national debt, maybe if it was $20 trillion, but right now i doubt we have to worry about it.

 

 

 

With the US's ever growing demand for ever more sophisticated technology the debt will increase as more money is poured into research. Which if possible will eventually come back to the ordinary people. Think GPS, or satellite TV. Which will fuel the economy. While increasing the US's power. As for the comments about that leading to our downfall... remember rome lasted far longer then the US. So my guess is with the weapons of today. The US will probably fall either A) when the world ends. B) when it is nuked to oblivion or some other form of WMD destroys it.

 

 

 

 

 

It is wise to consider another aspect of this debt. What is this debt doing for us?


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I didnt watch the whole video but if its about the government being in debt this is what i have to say.

 

 

 

Government being in debt isnt really a bad thing, in fact everytime the US govenerment has not been in debt (if i recall) their was a depression.

 

 

 

as for the debt coming due. I doubt that.

 

 

 

Gabe93walla: you dont know much do you. the US has been in a "war economy" sense like WW1 when we started spending over 50% of the budget on the military.

 

 

 

However i agree if all else fails we can cut back some on military spending, but i doubt we would as the US likes to be on top in that area.

 

 

 

and i think your forget the US is still the richest country in the world

 

-But wait what about the $9 trillion debt... if the US sold every thing that was of value in any major US city. It would be worth far more then that. I bet (though i havent looked at the numbers). that if the US didnt spend anything on funding anything new. it could probably pay off that debt whenever. However, If you remember your history a man named hamilton (i think that was his name). said that national debt isn't a bad thing.

 

The point is while it could become a problem its not gonna be the end of the US. Id be more concerned about nuclear war, or those days that are supposed to end the world (like 2012). Though I dont worry about those either.

 

 

 

The main point is that nothing good will really come of paying off the debt.

 

 

 

Do some research and find out what happens when a government has no debt. If memory serves me right it causes a depression... im not saying havent a high debt is good but im not worried about the current national debt, maybe if it was $20 trillion, but right now i doubt we have to worry about it.

 

 

 

With the US's ever growing demand for ever more sophisticated technology the debt will increase as more money is poured into research. Which if possible will eventually come back to the ordinary people. Think GPS, or satellite TV. Which will fuel the economy. While increasing the US's power. As for the comments about that leading to our downfall... remember rome lasted far longer then the US. So my guess is with the weapons of today. The US will probably fall either A) when the world ends. B) when it is nuked to oblivion or some other form of WMD destroys it.

 

 

 

 

 

It is wise to consider another aspect of this debt. What is this debt doing for us?

 

 

 

Dear god, "if memory serves me correctly" im sorry but were you alive during the 1830's.


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I didnt watch the whole video but if its about the government being in debt this is what i have to say.

 

 

 

Government being in debt isnt really a bad thing, in fact everytime the US govenerment has not been in debt (if i recall) their was a depression.

 

 

 

Yes, because during Clintons term, there was a HUGE depression, mostly because of the $70 billion surplus.

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Go Obama 08!!

 

 

 

You want to vote for a guy who won't even pledge to the flag? Wow...

 

 

 

 

 

 

 

 

 

Anyway, we're in debt. It sucks. We all know it. No need to make a thread about it.

 

 

 

Source please?

 

 

 

Some day that debt is going to come due... Problem is, that means that in order to pay it the government is going to have to tax people like there is no tomorrow. Anybody who knows much about macroeconomics knows that taxing slows growth, and can actually generate recession... that means that in the end (and at this point it is probably already inevitable) either there is going to be depression like we have never known or the federal government is going to fail to meet a lot of obligations that it has made or both. In any case it is going to be highly unpleasant for everybody alive at that time and especially for people who are in some way associated with the governmen.
every country owes debt to other countries, nobody is complaining because they pay interest. It's funny that you suggest that someday the debt will be due, if anybody ever complains about the debt owed to the U.S, they have the largest military in the world to answer to.

 

 

 

Lol, Malo. :lol:

 

 

 

Japan: Hey, America...you kinda owe us like...640 billion dollars. I think we deserve this favor...

 

America: ...

 

 

 

News: In recent news, Japan has been nuked...again.

 

 

 

I didnt watch the whole video but if its about the government being in debt this is what i have to say.

 

K, neither did I.

 

 

 

Government being in debt isnt really a bad thing, in fact everytime the US govenerment has not been in debt (if i recall) their was a depression.

 

...what? I think you misunderstand debt. It's not the fact that America is in debt, but the fact that they aren't progressively trying to stop going further in debt. In fact, it's almost the entire opposite!

 

 

 

as for the debt coming due. I doubt that.

 

That doesn't make it good.

 

 

 

Gabe93walla: you dont know much do you. the US has been in a "war economy" sense like WW1 when we started spending over 50% of the budget on the military.

 

Yeah but now...we're not (or not supposed to be). I'm going to laugh at you if you think the "war on terror" is helping the economy.

 

 

 

However i agree if all else fails we can cut back some on military spending, but i doubt we would as the US likes to be on top in that area.

 

Except when our dollar is worth a rupee... Oh hey, let's not build tanks anymore.

 

 

 

and i think your forget the US is still the richest country in the world

 

-But wait what about the $9 trillion debt... if the US sold every thing that was of value in any major US city. It would be worth far more then that. I bet (though i havent looked at the numbers). that if the US didnt spend anything on funding anything new. it could probably pay off that debt whenever. However, If you remember your history a man named hamilton (i think that was his name). said that national debt isn't a bad thing.

 

The point is while it could become a problem its not gonna be the end of the US. Id be more concerned about nuclear war, or those days that are supposed to end the world (like 2012). Though I dont worry about those either.

 

Yeah, the US is going to sell everything in its country to pay of debt to its own citizens and its treasury. :roll: We dont want to have to stop "spending" in order to pay of our debt. That's bad. Debt isn't a bad thing...not paying it off is.

 

 

 

 

 

 

 

The main point is that nothing good will really come of paying off the debt.

 

:lol:

 

 

 

Do some research and find out what happens when a government has no debt. If memory serves me right it causes a depression... im not saying havent a high debt is good but im not worried about the current national debt, maybe if it was $20 trillion, but right now i doubt we have to worry about it.

 

 

Err, why dont you provide the research as it is your claim and the burden of proof is on you.

 

 

With the US's ever growing demand for ever more sophisticated technology the debt will increase as more money is poured into research. Which if possible will eventually come back to the ordinary people. Think GPS, or satellite TV. Which will fuel the economy. While increasing the US's power. As for the comments about that leading to our downfall... remember rome lasted far longer then the US. So my guess is with the weapons of today. The US will probably fall either A) when the world ends. B) when it is nuked to oblivion or some other form of WMD destroys it.

 

So you're saying inventing GPS will pay of a fraction of our 9 trillion dollar debt...?

 

 

 

B) = end of the world.

 

 

 

 

 

It is wise to consider another aspect of this debt. What is this debt doing for us?

 

Bad things.


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Japan: Hey, America...you kinda owe us like...640 billion dollars. I think we deserve this favor...

 

America: ...

 

 

 

News: In recent news, Japan has been nuked...again.

 

That is quite funny, but they do kind of do that in a different sense, ie. they completely ignore the WTO.


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Do some research and find out what happens when a government has no debt. If memory serves me right it causes a depression... im not saying havent a high debt is good but im not worried about the current national debt, maybe if it was $20 trillion, but right now i doubt we have to worry about it.

 

 

 

Norway has paid of all it's debt and it's one of the wealthiest countries in the world, plus it's the wealthiest nordic country and has extensive, free social security and healthcare for all citizens, has one of the longest life expectancies and GDP... It donates billions to foreign aid and charity as a state every year...

 

 

 

Your theory of "if a government isn't in debt, it's doing bad" makes no economic sense. How the heck is a country better off if it loans money from others?

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Trillion? :lol: haha

 

 

 

Not sure which part you find funny.. :? The US national debt IS around $9 trillion dollars.

 

 

 

Or maybe you didn't know trillion is a real number as well... 9 trillion dollars= 9000 billion dollars.

 

 

 

If that's still hard to grasp, americans owe over 9000000000 million dollars to other countries. Each citizen of the US is about $30,000 in debt to other nations. That's almost the amount the american economy is worth annually.

 

 

 

None of them, just find it hard to grasp how someone can be in over 1 trillion debt :lol:


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Do some research and find out what happens when a government has no debt. If memory serves me right it causes a depression... im not saying havent a high debt is good but im not worried about the current national debt, maybe if it was $20 trillion, but right now i doubt we have to worry about it.

 

 

 

Norway has paid of all it's debt and it's one of the wealthiest countries in the world, plus it's the wealthiest nordic country and has extensive, free social security and healthcare for all citizens, has one of the longest life expectancies and GDP... It donates billions to foreign aid and charity as a state every year...

 

 

 

Your theory of "if a government isn't in debt, it's doing bad" makes no economic sense. How the heck is a country better off if it loans money from others?

 

 

 

Hmmm, good point it probably doesnt make sense but its a sort of quote from my history teacher... lets see if i can find anything on it... nope not with all this worring about the US's debt... His name was hamilton i think he was pro-national debt (else he had a counterpart who was) in like the 1800s (not sure on the timeline, but that should be the century).

 

 

 

 

 

or and i did do the research but i didnt bother posting it cause i didnt think you people would like the results. the fact was the debt is only growing at about 3x the inflation rate and historically the US's debt has always grown with during wars (bold = edited: forgot to put in)[/b]

 

 

 

Yeah, the US is going to sell everything in its country to pay of debt to its own citizens and its treasury. We dont want to have to stop "spending" in order to pay of our debt. That's bad. Debt isn't a bad thing...not paying it off is.

 

the point is that the US is still the richest country in the world.

 

 

 

 

So you're saying inventing GPS will pay of a fraction of our 9 trillion dollar debt...

 

B) = end of the world.?

 

kinda, im saying the debt has a purpose... right now its building because of the war. War makes research advance at a far faster rate then during peace, and a was when the world ends... but yes B) basicly is end of world too. (at least for me.. cause I live there...).

 

 

 

 

It is wise to consider another aspect of this debt. What is this debt doing for us?

 

 

 

Bad things.

 

for now... but at least some of that debt was used on government research and so we shall dind

 

 

 

 

Dear god, "if memory serves me correctly" im sorry but were you alive during the 1830's.

 

i was refering to my history class i took last year.

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Go Obama 08!!

 

 

 

You want to vote for a guy who won't even pledge to the flag? Wow....

 

Well, why not? I don't pledge, either. The flag is just an icon, and if you believe that it needs to worshipped like a God, I feel sorry for you.


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Trillion? :lol: haha

 

 

 

Not sure which part you find funny.. :? The US national debt IS around $9 trillion dollars.

 

 

 

Or maybe you didn't know trillion is a real number as well... 9 trillion dollars= 9000 billion dollars.

 

 

 

If that's still hard to grasp, americans owe over 9000000000 million dollars to other countries. Each citizen of the US is about $30,000 in debt to other nations. That's almost the amount the american economy is worth annually.

 

 

 

None of them, just find it hard to grasp how someone can be in over 1 trillion debt :lol:

 

The UK is aswell smartarse.


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The US has been bankrupt for decades. Their "solution" to solving their extraordinary deficit is massive money supply growth resulting in a soaring inflation, which also leads to a strong devaluation of their dollar.

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Trillion? :lol: haha

 

 

 

Not sure which part you find funny.. :? The US national debt IS around $9 trillion dollars.

 

 

 

Or maybe you didn't know trillion is a real number as well... 9 trillion dollars= 9000 billion dollars.

 

 

 

If that's still hard to grasp, americans owe over 9000000000 million dollars to other countries. Each citizen of the US is about $30,000 in debt to other nations. That's almost the amount the american economy is worth annually.

 

 

 

You forget the obvious... its a country not a person...

 

oh and i beileve i saw it was worth 15T. so not really. And im curious as to how much money other countries owe the US, and if that is factored in.

 


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[hide]

Do some research and find out what happens when a government has no debt. If memory serves me right it causes a depression... im not saying havent a high debt is good but im not worried about the current national debt, maybe if it was $20 trillion, but right now i doubt we have to worry about it.

 

 

 

Norway has paid of all it's debt and it's one of the wealthiest countries in the world, plus it's the wealthiest nordic country and has extensive, free social security and healthcare for all citizens, has one of the longest life expectancies and GDP... It donates billions to foreign aid and charity as a state every year...

 

 

 

Your theory of "if a government isn't in debt, it's doing bad" makes no economic sense. How the heck is a country better off if it loans money from others?

 

 

 

Hmmm, good point it probably doesnt make sense but its a sort of quote from my history teacher... lets see if i can find anything on it... nope not with all this worring about the US's debt... His name was hamilton i think he was pro-national debt (else he had a counterpart who was) in like the 1800s (not sure on the timeline, but that should be the century).

 

 

 

 

 

or and i did do the research but i didnt bother posting it cause i didnt think you people would like the results. the fact was the debt is only growing at about 3x the inflation rate and historically the US's debt has always grown with

 

 

 

Yeah, the US is going to sell everything in its country to pay of debt to its own citizens and its treasury. We dont want to have to stop "spending" in order to pay of our debt. That's bad. Debt isn't a bad thing...not paying it off is.

 

the point is that the US is still the richest country in the world.

 

 

 

 

So you're saying inventing GPS will pay of a fraction of our 9 trillion dollar debt...

 

B) = end of the world.?

 

kinda, im saying the debt has a purpose... right now its building because of the war. War makes research advance at a far faster rate then during peace, and a was when the world ends... but yes B) basicly is end of world too. (at least for me.. cause I live there...).

 

 

 

 

It is wise to consider another aspect of this debt. What is this debt doing for us?

 

 

 

Bad things.

 

for now... but at least some of that debt was used on government research and so we shall dind

 

 

 

 

Dear god, "if memory serves me correctly" im sorry but were you alive during the 1830's.

 

i was refering to my history class i took last year.
[/hide]

 

 

 

Nuclear, what you seem to think is that debt is good. I dont know where you're getting this idea, but I'd like to know. Can you provide some sufficient evidence?

 

 

 

Just because you're rich doesn't mean you have no problems in life. Just because you're a rich country doesn't mean you dont have to worry about anything.


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oh and i beileve i saw it was worth 15T. so not really. And im curious as to how much money other countries owe the US, and if that is factored in.

 

 

 

 

 

You're right, I did research on this out of interest both on and offline, the actual standing debt (including the amount owned to it's own citizens) of the USA seems to be closer to $15 trillion dollars.

 

 

 

But the $9T can be used for sake of argument and to show people how much money the US is using that doesn't actually belong to it, nor is it likely to pay it back either (therefore discouraging countries from giving further loans)

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Some interesting reading on the subject http://www.cedarcomm.com/~stevelm1/usdebt.htm

 

[hide]

 

This graph on it is pretty interesting really usdebt.png[/hide]

 

 

 

MOD EDIT: Hide tags put in place to prevent page from stretching.Q.V. TipIt Mod.


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just way too many inquisitive idiots

balance is scary to people who like things easy for them

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