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When interest rates climb to 10%, and interst on the debt hits $1.8 trillion a year, how do you believe we're going to pay for it?
Interest rates are controlled by the Fed.
It will be paid for the same way everything else is. The Fed will send an order to the bank to increase or decrease the value in your checking account. Poof!
none of this is true. The tax collected as a percentage of GDP is relatively about the same now as when they were far higher.
All true, but the growth in debt also went at a higher percentage. The use of percentage growth is a wonderful tool to hide real numbers. During the 2 on the ground wars we lowered taxes when we should have been raising them. Some VP kept saying debt did not matter. When you go to war it needs to be paid for, so keep voting for those that want boots on the ground and do not tell the population that they will have to pay.
Here's a few examples from an outline of where our money is going. They are drunk on spending.
Taxpayer Funded Political Ads on MSNBC: $495,000 was spent to air commercials touting the Obama administration “green training†job efforts on Obama friendly Olberman and Maddow MSNBC cable shows. These funds did not create any jobs.
The Two Million Dollar Intern: The Department of Agriculture’s Office of the Chief Information Officer funded a $2 million intern program. Only one intern was hired full time as a result.
Better Enforce Eligibility Requirements for Food Stamps: Apparently administering the Supplemental Nutrition Assistance Program is anything but a "SNAP" for the Department of Agriculture, examples of fraud and abuse in the program are nearly too numerous to count.
Dead, Duplicate, and Disqualified Food Stamp Recipients: The USDA Inspector General found roughly 2,000 dead people are still receiving food stamps in New York and Massachusetts combined. Additionally, its investigation revealed 7,236 people in these states are receiving duplicate benefits, while 286 are on state lists that should exclude them from receiving food stamps. These unnecessary payments amount to $1.4 million every month.
All true, but the growth in debt also went at a higher percentage. The use of percentage growth is a wonderful tool to hide real numbers. During the 2 on the ground wars we lowered taxes when we should have been raising them. Some VP kept saying debt did not matter. When you go to war it needs to be paid for, so keep voting for those that want boots on the ground and do not tell the population that they will have to pay.
Debt doesn't matter. Inflation does. As long as inflation is manageable (2-4%), debt doesn't matter.
Our national debt has gone up 70% since Obama took office. We are heading for a train wreck.
I actually believe its doubled, up 100%.. from 9 trillion to 18 trillion
Quote:
Originally Posted by Boss
All true, but the growth in debt also went at a higher percentage. The use of percentage growth is a wonderful tool to hide real numbers. During the 2 on the ground wars we lowered taxes when we should have been raising them. Some VP kept saying debt did not matter. When you go to war it needs to be paid for, so keep voting for those that want boots on the ground and do not tell the population that they will have to pay.
But thats not due to a lack of income, its because of spending..
You just listed various spending, and then equated the problem due to no income, so you know thats true, which makes me wonder why you keep saying the problem is income.
It will be paid for the same way everything else is. The Fed will send an order to the bank to increase or decrease the value in your checking account. Poof!
Wrong.. Interest rates are set based upon world wide demand. If another country increases their interest rates, then we have to increase ours in order to continue to sell our bonds..
You NEVER know what yu are talking about..
poof, its gone..
Please child...
Last edited by pghquest; 12-03-2014 at 09:10 AM..
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