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Old 05-08-2013, 02:05 PM
 
Location: SE Arizona - FINALLY! :D
20,460 posts, read 26,282,885 times
Reputation: 7627

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Quote:
Originally Posted by MTAtech View Post
Actually, the correct analogy is the mortgage one.

When new homebuyers buy their home, it is a struggle to make the monthly payment. After a few years, income rises which lessens the burden. It's exactly what happened to World War II debt, which was huge at the time. We never really paid off that debt, but growth in GDP rose making the debt irrelevant.
Yup. At the end of WWII the US debt (as a percentage of GDP) was HIGHER than is TODAY.

Ken

 
Old 05-08-2013, 02:13 PM
 
29,939 posts, read 39,405,802 times
Reputation: 4798
TABLE III-C - Debt Subject to Limit
Opening balance fiscal year - $11,269,586,000,000

Closing balance today (May 7th) - $11,917,158,000,000

Difference - $647,572,000,000

Deficit daily - $2.957 billion

$2.957 billion x 365 = $1,079,305,000,000

That's not exactly something to be jumping up and down over...
 
Old 05-08-2013, 02:21 PM
 
Location: Allendale MI
2,523 posts, read 2,199,215 times
Reputation: 698
Quote:
Originally Posted by EinsteinsGhost View Post
As depressing as this may sound, change in private sector employment, by fiscal year, since 2001:
2011: +2.26 million (188K/month)
2005: +2.24 million (187K/month)
2012: +2.20 million (183K/month)
2006: +2.00 million (167K/month)
2004: +1.68 million (140K/month)
2013: +1.51 million (216K/month)*
2007: +1.00 million (83K/month)
2010: +0.35 million (29K/month)
2003: -0.26 million (-22K/month)
2001: -1.12 million (-93K/month)
2002: -1.60 million (-133K/month)
2008: -1.63 million (-136K/month)
2009: -6.51 million (-543K/month)

*2013: Thru first seven months.

In other words, a net increase of only 2.1 million private sector jobs in 151 months since October 2000, an average of: 14K jobs/month.
Don't let Republicans see that they might start crying.
 
Old 05-08-2013, 02:23 PM
 
20,629 posts, read 19,292,640 times
Reputation: 8229
So the private banker housing and rental REIT printing press is running hotter than the fiscal deficit printing press these days. Oh well...fantastic. It takes a real smarty to put it together. The drinking fountain only seems to work after someone flushes.
 
Old 05-08-2013, 02:40 PM
 
Location: Long Island, NY
19,792 posts, read 13,920,077 times
Reputation: 5661
Quote:
Originally Posted by LordBalfor View Post
Yup. At the end of WWII the US debt (as a percentage of GDP) was HIGHER than is TODAY.

Ken
Also, that debt was owned by taxpayers, such as all the people who bought savings bonds. So the debt didn’t make postwar America poorer. In particular, the debt didn’t prevent the postwar generation from experiencing the biggest rise in incomes and living standards in our nation’s history.

Today, about three-quarters of our debt is owed to other Americans, not the Chinese, as many think.
 
Old 05-08-2013, 03:33 PM
 
Location: Palo Alto
12,149 posts, read 8,401,836 times
Reputation: 4190
Quote:
Originally Posted by MTAtech View Post
Actually, the correct analogy is the mortgage one.

When new homebuyers buy their home, it is a struggle to make the monthly payment. After a few years, income rises which lessens the burden. It's exactly what happened to World War II debt, which was huge at the time. We never really paid off that debt, but growth in GDP rose making the debt irrelevant.
Not bad. And you didn't even use a graph. Overall one of your better posts in terms of showing an understanding of how it works.


Remember homeowners can't print money in the basement and you missed a discussion on inflation - we've actually inflated away debt.
 
Old 05-08-2013, 03:34 PM
 
25,805 posts, read 16,456,078 times
Reputation: 15996
Quote:
Originally Posted by wyvern212 View Post
So the Democrats stole a ton of money to pay off the debt.

The million dollar question now is, who did they steal the money from? Because nothing's free.
Yep, and GW Bush stole the money to fund his bllsht wars from our children.
 
Old 05-08-2013, 03:39 PM
 
Location: Northridge/Porter Ranch, Calif.
24,496 posts, read 33,233,414 times
Reputation: 7610
Quote:
Originally Posted by RD5050 View Post
Our recovery is happening because Obama and the Dems worked hard at making it happen!

The annual deficit is down because Dems fought against extending Bush tax cuts for the wealthy.

You remember ... those tax cuts which started shortly after Bush took office ... which helped to run up our current 16 Trillion Nation Debt?

Bush tax cuts - Wikipedia, the free encyclopedia
Tax cuts do not cause a deficit.

Guess Who Really Pays the Taxes — The American Magazine

The government revenue increased by $785 billion from 2004 to 2007.
 
Old 05-08-2013, 03:41 PM
 
Location: Northridge/Porter Ranch, Calif.
24,496 posts, read 33,233,414 times
Reputation: 7610
Quote:
Originally Posted by BigJon3475 View Post
TABLE III-C - Debt Subject to Limit
Opening balance fiscal year - $11,269,586,000,000

Closing balance today (May 7th) - $11,917,158,000,000

Difference - $647,572,000,000

Deficit daily - $2.957 billion

$2.957 billion x 365 = $1,079,305,000,000

That's not exactly something to be jumping up and down over...
Don't let Democrats see that. They may start crying.
 
Old 05-08-2013, 03:55 PM
 
69,368 posts, read 64,001,245 times
Reputation: 9383
Quote:
Originally Posted by Old Gringo View Post
The Obama haters despise good news.
$800 Billion deficits, yeah, that sure is good news..
Quote:
Originally Posted by Finn_Jarber View Post
Being proven wrong is hard for some people, especially if you have been vocal voicing your incorrect opinion.
Actually its you left wing kooks proven wrong, proclaiming that cutting spending would collapse the economy and skyrocket the debt
Quote:
Originally Posted by iNviNciBL3 View Post
I love how people are disappointed by this.
yeah, we should be a Democrat and demand we pass the $1T deficit mark again, just like you guys did... Hell, how many of the left wing kooks said that wasnt enough
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