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.
Glenn Beck, love him or hate him, this was a funny bit he did. but first a little info is needed.
Quote:
Jan 20, 2010 - WASHINGTON (AP) -- Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion.
The democrats want to raise the debt ceiling by another $1.9 TRILLION!! Beck lays out to Americans a bit of perspective on how much money this is.
With $1.9 TRILLION .......
We could cover over $6,000 in credit card debt for every single American
We could pay off 10 million American home mortgages, at up to $200,000 each
We could buy each member of the US Congress 75 Gulfstream 5 jets.
We could buy the total economic output for the countries of Brazil and Ireland
We could buy 422 brand new nuclear powered aircraft carriers.
We could buy back every piece of merchandise we exported from Jan 2008 thru June 2009
$1.9 freaking trillion dollars!!! How about, we just stop the democrats from spending and printing all our money, then we can save $1.9 trillion dollars.
Before you trash the link to "Fox" try reading it..there are quotes from the Dems in DC.
Seems if they don't do this we may default on obligations. This is not good..there is not enough revenue to pay our bills and without this raise we cannot borrow to pay our bills as we have "maxed out" our credit card with the Fed/Treasury.
The bill collector is knocking on our door and we have empty pockets.
Before you trash the link to "Fox" try reading it..there are quotes from the Dems in DC.
Seems if they don't do this we may default on obligations. This is not good..there is not enough revenue to pay our bills and without this raise we cannot borrow to pay our bills as we have "maxed out" our credit card with the Fed/Treasury.
The bill collector is knocking on our door and we have empty pockets.
I can't trash this to anyone since Glenn Beck said the whole thing this evening. I think it would be very good if they just use the money to pay off all the credit card debt for everyone.
You are so right and very few, if any from the left understand what you said.
So, we have to borrow money to pay back borrowed money because we didn't have the money to begin with. And..I will go out on a limb here and assume it's just the interest on that thrice borrowed money....
Watch, the dollar is going to completely tank, and gold is going to shoot up past $3000oz.
Interest rates would have to be greater than 25% to do any good at.
It is just a matter of time, before you see the infamous double dip. The writing was on the wall 1930,s comes to mind. If you do the same thing over and over and expect the same results, is stupidity/insanity.
So, we have to borrow money to pay back borrowed money because we didn't have the money to begin with. And..I will go out on a limb here and assume it's just the interest on that thrice borrowed money....
I wonder how long untill China stops lending and starts knocking on the door for money.
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.
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.
