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)
Reply Start New Thread
 
Old 02-14-2011, 11:27 AM
 
Location: Dallas, TX
31,767 posts, read 28,767,183 times
Reputation: 12341

Advertisements

Quote:
Originally Posted by KoobleKar View Post
Like maxing out your credit cards, just the INTEREST on the debt now is 25% of our national annual GDP.
IIRC, we paid $482 billion in interest on debt in 2008. Did the interest go up that drastically?

Last edited by EinsteinsGhost; 02-14-2011 at 11:35 AM..
Reply With Quote Quick reply to this message

 
Old 02-14-2011, 11:29 AM
 
Location: Raleigh, NC
20,054 posts, read 18,251,969 times
Reputation: 3826
The mother of all ARMs is resetting. Time to bust out the popcorn...
Reply With Quote Quick reply to this message
 
Old 02-14-2011, 11:31 AM
 
1,011 posts, read 1,015,175 times
Reputation: 467
As long we have 'sacred cows' like the runaway military budget, wars, social security, medicaid and other entitlements expect us to be hundreds of billions underwater vs. GDP by the same time next year. Isn't it the definition of insolvency? Basically no polititian gives a damn anymore... R or D, they just care about votes and pork in their districts.
Reply With Quote Quick reply to this message
 
Old 02-14-2011, 11:32 AM
 
Location: Raleigh, NC
20,054 posts, read 18,251,969 times
Reputation: 3826
Quote:
Originally Posted by wellyouknow View Post
As long we have 'sacred cows' like the runaway military budget, wars, social security, medicaid and other entitlements expect us to be hundreds of billions underwater vs. GDP by the same time next year. Isn't it the definition of insolvency? Basically no polititian gives a damn anymore... R or D, they just care about votes and pork in their districts.
It's all coming to an end soon. I would be very frightened right now if I were in the legislature.
Reply With Quote Quick reply to this message
 
Old 02-14-2011, 11:37 AM
 
29,981 posts, read 42,856,313 times
Reputation: 12828
Quote:
Originally Posted by EinsteinsGhost View Post
That's correct. This country didn't start amassing debt until 2007, and especially after Jan 2009.
Are you suggesting there was no national debt before the Spendocrats took control of Congress and especially since Obama took office?
Reply With Quote Quick reply to this message
 
Old 02-14-2011, 11:41 AM
 
Location: Dallas, TX
31,767 posts, read 28,767,183 times
Reputation: 12341
Quote:
Originally Posted by lifelongMOgal View Post
Are you suggesting there was no national debt before the Spendocrats took control of Congress and especially since Obama took office?
Yes, since I chose to present self in agreement with the subject of the thread and the OP, as most of you all obviously do.

Or, do you happen to disagree with me even now?

Last edited by EinsteinsGhost; 02-14-2011 at 11:58 AM..
Reply With Quote Quick reply to this message
 
Old 02-14-2011, 11:52 AM
 
48,505 posts, read 96,675,147 times
Reputation: 18304
Quote:
Originally Posted by Frank DeForrest View Post
"We don't have a spending problem, we have a revenue problem"

Signed,
your garden variety liberal
We have the saqme problem as a parent who gives his child a credit card i a candy store. The aprent is the governamnt and the child is the dependent liberal congress and its suporters. That is why they basically have a policy that discourages hiring new employees in this economy.Yet the gripe about not having eqaul incoem when their policy maen just that.
Reply With Quote Quick reply to this message
 
Old 02-14-2011, 12:01 PM
 
Location: Dallas, TX
31,767 posts, read 28,767,183 times
Reputation: 12341
Quote:
Originally Posted by texdav View Post
We have the saqme problem as a parent who gives his child a credit card i a candy store.
Sometimes, and sometimes not. As a pragmatist, I see several possibilities and draw conclusions accordingly. For example, an unemployed without any income... should he/she spend to appear on an interview for a job? After all, it would mean spending while not earning, to simply print resume and travel for the interview. It would not be irresponsible to spend to do so, even if the effort and spending didn't result in a job.

Do you agree? Or, would you rather sit at home and hope an invisible hand will get it done?
Reply With Quote Quick reply to this message
 
Old 02-14-2011, 12:06 PM
 
31,387 posts, read 36,975,677 times
Reputation: 15038
Quote:
Originally Posted by highcotton View Post
You are welcome.

PolitiFact | Boehner says federal debt will equal GDP in two years
Reply With Quote Quick reply to this message
 
Old 02-14-2011, 12:15 PM
 
30,023 posts, read 18,596,563 times
Reputation: 20806
Quote:
Originally Posted by highcotton View Post

Unfortunately, insolvency is our best option at this time.

1. default will affect the bond investors
2. the world economy will be rocky for about a year, then recover
3. default will ensure fiscal responsibility- no more easy credit, no more easy spending
4. default will prevent the disasterous, drawn out consequences of hyper inflation or currency devaluation.
5. Social security, the main holder of US debt, will be eliminated, as well most other social programs.

$5.8 trillion in addition debt over 4 years. That was great! Now we have Obama trying to load on additiona debt for the 2012 budget.
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 03:58 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