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Why is that? Because I understand what deficit spending is? Federal debt does not function like personal or even state level debt. Much different ball game.
But regardless, the heading of this thread is gibberish. The gross national debt is $11 trillion, including unfunded liabilities in the calculation of debt makes no sense at all. Unfunded liabilities are not debt, the are estimations of unfunded costs well into the future. They can be fixed by increasing revenue, or simply scaling back some of the services. That is obviously different than an actual debt....
Your future costs of living are also unfunded liabilities. Do you consider your food costs over the next say 50 years a debt? Its something you have to pay for right!
This is gibberish, its including unfunded liabilities, those are not debts. That's like saying your food (which is an unfunded liability) in the future is debt today.
Completely untrue. That would be like saying your food, which you PAID for today, is not an unfunded liability to the farmer who owes you food you PAID for.
If its already been spent, its an unfunded liability..
Does it really matter, does it make it OK, does it make you feel better to complain about people who are unhappy with irresponsible government?
I don't discount the complaints, but I do think the timing says a lot. If Bush had had a third term, I highly doubt we would have seen events such as the "teabag protests", even if Bush had the same policies as Obama.
The gross national debt is around $11 trillion, but only $7 trillion is public debt.
And no, I'm not very concerned with the mounting debt.
Wrong, to say that you would need to ignore such things like Social Security funding, welfare funding, all of which have already been PLEDGED. Yes, they also get counted because people have already PAID into it and expect their money in return..
I know a lot of people were concerned about Bush's spending, but it's interesting how the outcry among Republicans has become about 100 times louder since November 4, 2008.
The unfunded liabilities that the article in the OP is including is NOT money that has already been spent.
The gross national debt is a bit more than $11 trillion, its no where near $55 trillion.
There is a difference between "national debt" and "unfunded liabilities".. National debt is $11 trillion, unfunded liabilities is as high as $100 trillion. Again, to confuse one with the other is just plain wrong because people NOW pay into Social Security and they want their money back. Yes, these requests are liabilities..
I know a lot of people were concerned about Bush's spending, but it's interesting how the outcry among Republicans has become about 100 times louder since November 4, 2008.
Even more astounding is how the left now doesnt want to talk about the debt and pretend that the bigger the debt is, the better our country is.
And for much less of a reason - those complaining about spending are actually complaining about Bush but are too uninformed to realize it.
i think people were complaining about "bush's spending" and that is why they voted for change. what they got was an amplification of spending so i guess the complaining would be louder now! even if you don't hold the president responsible, (since presidents only pass laws but don't write them) you still have to assume that the problem must lie in the democrat controlled congress of both administrations.
i think people were complaining about "bush's spending" and that is why they voted for change. what they got was an amplification of spending so i guess the complaining would be louder now! even if you don't hold the president responsible, (since presidents only pass laws but don't write them) you still have to assume that the problem must lie in the democrat controlled congress of both administrations.
I doubt anyone voted for Obama with the belief that they were voting for "less government".
And if most Americans really had a problem with Democrats, they wouldn't have increased their majorities in the House and the Senate.
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