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Old 01-09-2012, 12:37 PM
 
Location: liberal paradise/conservative hell
5,646 posts, read 4,505,201 times
Reputation: 991

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Maybe this 3 minute video will help some see how ridiculous our debt crisis is:


DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. - YouTube

When are the American people going to put their collective foot down and say "I'm sorry, we can't help you"?
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Old 01-09-2012, 12:43 PM
 
4,741 posts, read 3,973,265 times
Reputation: 3225
Great, another stupid, misguided analogy that completely ignores the fact that individual debt and government debt are not quite the same thing.

I can balance my checkbook, so I'm qualified to be a CFO at ExxonMobil. Same thing, dude.

1. The guy in the plaid shirt can't print his own money; government can.

2. The guy in the plaid shirt can't tax his neighbors or creditors or his bank for extra income; the government can.

3. The guy in the plaid shirt owes money to other people who can take him to court, garnish his wages, and make him live under a bridge; the government (we) owe the money to the public...which is ourselves.

4. The guy in the plaid shirt owes money and pays money to creditors who will actually take money from his account balance; the government owes money to people who may or may not do that. They can cash it, sell it back to us, or do a number of different things with it.

Put the crayons away and learn how economics really works before posting this crap.
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Old 01-09-2012, 12:46 PM
 
Location: Londonderry, NH
41,479 posts, read 55,777,219 times
Reputation: 24780
Debt is money, money is debt. That is the way things work. It is all numbers anyway so why worry.
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Old 01-09-2012, 01:22 PM
 
3,045 posts, read 2,986,067 times
Reputation: 1306
Quote:
Originally Posted by andrea3821 View Post
Maybe this 3 minute video will help some see how ridiculous our debt crisis is:


When are the American people going to put their collective foot down and say "I'm sorry, we can't help you"?
So that video gave you your opinion? Why don't you think for yourself? Did you look at any unbiased sources to get a good idea of what it would mean to not extend the debt ceiling? Didn't think so...
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Old 01-09-2012, 03:42 PM
 
19,403 posts, read 17,556,938 times
Reputation: 7542
There are two forms of money, both of them forms of debt, one more usurious than the other.




IOU - I Owe You.
IHU- I Ho You.


Adj.1.usurious
Old French use-ur-ass


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Old 01-10-2012, 08:28 AM
 
3,457 posts, read 3,392,395 times
Reputation: 1537
Quote:
Originally Posted by andrea3821 View Post
Maybe this 3 minute video will help some see how ridiculous our debt crisis is:


DEBT LIMIT - A GUIDE TO AMERICAN FEDERAL DEBT MADE EASY. - YouTube

When are the American people going to put their collective foot down and say "I'm sorry, we can't help you"?
I thought this was a very poor analogy. If the U.S. Government is the "borrower" in the video, who is the lender supposed to represent?
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