U.S. debt jumps a record $328 billion — tops $17 trillion for first time

Sheeit man, I missed the draft by two months 'cause I was too young. So now it looks like it's payback time. Yikes. Maybe I'll move to Canada or something (I was thinking of doing it "back then", so now I'm thinking about it "again").

 

See those people in the lower right of the photo? That's 'MO' and the girls in a few years. Obama is having a 'Full Monty' rub-down.

 

Record debt under the spendthrift Democrats' control? No way! Dims are ruining this great nation.

 

Yet Democrats keep spending and seem not interested in how high the debt is. How much more will Obama care add to the debt?

so each citizen's share of this debt is $53,915.46.

" The National Debt has continued to increase an average of
$2.64 billion per day since September 30, 2012!"


"Interest costs[edit]

Despite rising debt levels, interest costs have remained at approximately 2008 levels (around $450 billion in total) due to lower interest rates paid to Treasury debt holders.[96] However, should interest rates return to historical averages, the interest cost would increase dramatically. Historian Niall Ferguson described the risk that foreign investors would demand higher interest rates as the U.S. debt levels increase over time in a November 2009 interview.[97]"

 

I already gave a perfect example of wasteful needless big spending Obama style. Two billion dollars per year to promote Obama Care...years after it became law. It's written into the legislation (Section 4002).
But thanks for prompting me to mention it again.

 

Well that only took you three or four posts to point me to page 67 (like I have time to dig through all the garbage to find a nugget) and then it merely mentions repealing off shore tax breaks and depreciation deductions.
Is that how we will recover almost a trillion dollars in revenue? Sure thing.

 

Yes, because it isn't like there is a table of contents or anything!

 

Now tell me why China would want to cause the country that buys most of their exports want to throw us and themselves into depression?

 

Sorry, it replaced AFDC and JOBS with Tanf.

Yeah, I am saying that your predictions have not been too good lately.

Edit/Stop the insults I was talking about CR and debt limit hostage taking.

 

No, I checked out her bill. You should try that sometime. BTW, can you tell me what is in Ryan's bill?

 

C'mon people, $17 trillion dollars of debt is nothing. Lets double it!! Debt is good, unemployment is good, lets max our cards out as quick as possible. Maybe if we borrow a few trillion more, it will fix our economy and stabilize it for years to come. If we want to fix our economy all we need to do is go to war, right?

 

It's all Bush's fault.

Oh wait...

 

But her party passed it. Do you understand how legislature works?

.

Your link say nothing about how tax revenues are increased. Cutting tax loopholes are tax increases. BTW, your link did say: "However, the lack of rigorous change is also less likely to thrust the U.S. into another recession."

Interesting, since the deficit for 2013 was $750 billion and the deficit for 2014 was projected to be around $400 billion until the tea party screwed the economy. Again, Ryan's would balance it but the link said Murray's "the lack of rigorous change is also less likely to thrust the U.S. into another recession."

 

Why don't you look for "the devil in the details". Why do you only repeat RW propaganda points?

 

The BILL does, just like any bill spells out what it will do. Summaries are not passed by the legislature.

 

It was a metaphor, and completely on topic.

Considering what just happened on capital hill regarding spending, it seems your presumption that both sides support unlimited spending is false.

 

We buy 1/5th of China's exports.

 

I don't rely on talk, I go by the acts. I have not seen any R in almost all of US history, reduce spending.
But your free to believe whatever falsities you hear.

 

So it isn't a fact that republicans refused a debt ceiling increase to bring light to the fact that spending is out of control?

What you mean is, you assign other people's positions for them, assign it as fact, and then argue against it.

 

No one said when it would be $60 trillion or higher. Reagan's deficits were higher when compared in today's dollars. Maybe a $60 trillion debt in the future could be only 20% of GDP. Scaring people over an amount figure is stupid. You have to compare to the past in comparable dollars. Now the debt is 73% of GDP and that is really too high and needs to be lower. But the ratio is the problem, not the dollar figure. When can do things to raise the GDP at the same time that we lower the debt growth.

The right refuses to look at our debt problem in that way. They only seek to reduce the debt growth without worrying about how it could affect GDP. If you end up reducing GDP growth at the same time that you are reducing debt growth, you are not solving the problem.

 

If you want to pay your $53,915.46, go right ahead. Most of us will never pay it so tell me what that number really means to you?

 

Dog and pony, is mostly what it is/was.
For when R's had control of all 3 points of gov't last decade, I saw no repeal in spending, only expansion.
Then go to the 1980s. Again, expansion of spending, not reduction.
So you can claim until you're blue in the fact that the R's only want to decrease spending and gov't, but IMO it is a lie.
R's have never reduced spending or size of gov't, unless they want to do it while a D is in office.

 

Since Debt to GDP hasn't been 73% since before Obama even took office, I'll need proof of the rest of your post.

Proof please.



As we all can see the atrocious increase in debt to GDP isn't helping much is it?

Obamanomics policies of waterboarding American with knot heads forest of regulations is doing a good job of drowning GDP growth, there's your problem right there. Obama Care comes with 23,000 pages of regulation, businesses will need an army of attorneys and take years before they get the full scope of how it affects their business and how to comply.

 

The really bizarre thing is that there is a lot in your post that is actually true! War? It was an excellent tool for FDR and his socialist moron regime to get us out of the Great Depression (I love telling this story to people who were never allowed to study it in school).

Churchill and Roosevelt had been plotting for nearly two years to find a way to get the US into the European War. Americans wanted no part of it after World War I, either. Now, at that time, Japan imported nearly ALL of its oil from the East Indies, from American and English oil companies. No problem. England, Japan, and the United States were all totally at PEACE with each other.

Then, suddenly, for NO ****ING REASON AT ALL, both England and the US slapped Japan with a total oil embargo, and refused to sell them another barrel of oil. This was way BEFORE Pearl Harbor. So, faced with being strangled to death by having NO oil for their country, Japan lashed out months later, attacking both Britain and the US (at Pearl Harbor). Now, the beauty of Churchill's and FDR's plan is revealed -- they knew that Japan and Germany had an airtight alliance with each other, and so after FDR declared war on Japan, Hitler blindly and stupidly declared war on the United States!

The US immediately went on a wartime economic footing, the government started buying everything imaginable to use in the war, and everybody was employed in either the military or war production companies. The Great Depression ended abruptly, Frankie Roosevelt was an instant hero, and on top of everything else, we became the most powerful nation in the world because we were the first to have nuclear weapons. I defy ANY Democrat apologist to prove me wrong in anything I've said, but google it up and read to your heart's content....

Now, I'll ruin the whole thing by also pointing out that never in the history of the United States had the national debt or spending caused an economic catastrophe in this country -- no matter how huge the debt was, and no matter how much was being spent. It is simply the truth.... Since the end of World War II we have been able make the rest of the world put up with our insane levels of debt and irresponsible financial conduct because we were able to force the rest of the world to adopt the US Dollar as the reserve currency for every country. And nothing will change, until or unless we lose our ability to bully and threaten all the other countries....

 

You can continue to try to scare people with "atrocious" alarmist speak. You can whine all you want about how high the debt is. I am more concerned with coming up with solutions that can done without crashing the economy.

Nonsense like saying that the budget can be balanced in 10 years just by cuts, that SS can be privatized, that the old health care system was better than Obama care, that you can repeal Obama care, that anything can be accomplished without compromising.

I never get all that I want but the right wing nuts think that they should or they will take their marbles and go home.

I worry about the debt but I look for realistic ways to control the debt without hurting people and/or crashing the economy.

Just telling people how bad things are accomplishes absolutely nothing.