Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 08-09-2012, 12:01 AM
 
29,981 posts, read 42,856,313 times
Reputation: 12828

Advertisements

What sense does it make to worry about what Mitt Romney does with his own money or scream about "taxing the rich" like Obama and his entitlement dependent base if our federal government carelessly wastes the money sent to it by the taxpayers.

$10 Million a minute is an approximation of how much our debt burden grows. Why are so few people up in arms about that?

Quote:
The U.S. Financial Burden Barometer (Burden Barometer) offers a more comprehensive basis to assess where the U.S. is and where it is headed financially. It was created by adding the numbers for total liabilities, unfunded social insurance promises, and various commitments and contingencies found in the official financial statements of the U.S. government and other official government reports (e.g., annual Social Security and Medicare Trustees Report, Congressional Budget Office’s (CBO) current projected deficit for fiscal 2012). Importantly, the Burden Barometer has an extra digit that can be used, if necessary. Hopefully this will never happen, but the National Debt Clock had to be modified to add an unanticipated additional digit within the past 5 years. As of July 25, 2012, the Burden Barometer stood at $69,776,800,000,000, and the number is growing by about $10 million a minute.
About the U.S. Financial Burden Barometer » Comeback America Initiative

Unless we stop this cycle in the immediate future it is predicted that the USA's financial crisis will be like that of Greece by 2016.

Quote:
"We are at a crossroads in America. Our political leaders can keep hiding their heads in the sand and continue toward economic catastrophe. Or, they can take an honest look at our situation, andlead us by pursuing nonpartisan solutions, that can address our challenges in an effective, equitable, moral and sustainable manner," said Mr. Walker.
StreetInsider.com - Announcing the $10 Million a Minute Bus Tour
Reply With Quote Quick reply to this message

 
Old 08-09-2012, 12:07 AM
 
Location: New Jersey
16,876 posts, read 10,539,064 times
Reputation: 16409
The United States is finished. We spend an intangible amount of money on wars that people know nothing about, corporate bailouts and welfare, corrupt political interest, illegal immigrants and a glut of federal programs and agencies. It's already too late to stop the bleeding. The US will be forced to default, the wealthy and the guilty will flee and the American people will be left to pick up the pieces and try to rebuild.
Reply With Quote Quick reply to this message
 
Old 08-09-2012, 12:49 AM
 
3,353 posts, read 6,423,030 times
Reputation: 1128
I wonder if all nations objected to purchasing our debt (treasury bonds) from now on, what would we do? Immediate budgets cuts would need to kick in, no nation is obligated to purchase our debt so we need to think like that. China has already stated that we do need to stop borrowing from them, and no matter how much any of you may dislike China I think we can agree on that. We make too much revenue to borrow the amount we do, imagine if Bill Gates went around borrowing money from everyone although he's already wealthy. He'd amass a huge debt bill for no apparent reason. And honestly us having this huge debt bill is slowing down the global economy, imagine if we didn't have debt with China, Japan, or even ourselves. Instead of foreign aid to another nations we could do as Russia has done recently which is forgive debts from other nations and let them begin to prosper.
Reply With Quote Quick reply to this message
 
Old 08-09-2012, 12:55 AM
 
Location: Southern California
15,083 posts, read 20,436,223 times
Reputation: 10343
Quote:
Originally Posted by lifelongMOgal View Post
What sense does it make to worry about what Mitt Romney does with his own money or scream about "taxing the rich" like Obama and his entitlement dependent base if our federal government carelessly wastes the money sent to it by the taxpayers.

$10 Million a minute is an approximation of how much our debt burden grows. Why are so few people up in arms about that?


...
Because that is an abstract figure that can't be grasped and if one can't grasp that, then one can't be outraged. You may as well be talking about going to Mars.

[how can one relate to $10,000,000?]
Reply With Quote Quick reply to this message
 
Old 08-09-2012, 01:11 AM
 
Location: San Diego
2,311 posts, read 2,824,362 times
Reputation: 893
It is almost unfathomable to think that this has been our situation for quite some now and the pettiness somehow manages to rise to the top of peoples agenda when making their voting decisions.

I don't trust either candidate to fix, or even address, these issues and congress isn't helping.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6. The time now is 05:43 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top