American household owes an extra 29,000

[Vol423]

I don't understand why everyone takes LGs bait and runs with it.

Other than having a clown in chief that couldn't run a bait shop much less the US government and economy, what does everyone think is really behind the national debt problem??

Don't be stupid. It's not like no national debt existed pre-Obama.

 

[BigPapaVol]

Don't be stupid. It's not like no national debt existed pre-Obama.

Don't think his debt point was about Obama, though he has a special category. Bottom line is about DC spending, every day, as audaciously as possible because there are no curbs to their ability to be idiots, regardless of party.
Posted via VolNation Mobile

 

[Vol423]

Don't think his debt point was about Obama, though he has a special category. Bottom line is about DC spending, every day, as audaciously as possible because there are no curbs to their ability to be idiots, regardless of party.
Posted via VolNation Mobile

I completely agree with your point, but I don't think that's the point gsvol was trying to make.

Gsvol is the nut-ball right wing version of utgibbs.

 

[utgibbs]

I see a trend....

In fact, the "debt bomb" issue is over-hyped.

 

[gsvol]

Don't be stupid. It's not like no national debt existed pre-Obama.

Talk about stupid.

The question was; "what does everyone think is really
behind the national debt problem?"

And even better question, why do we even have a
national debt?

You want to talk about Obama????

According to the Treasury Department tables, the
increase in our debt for fiscal year 2009 was 1.885
trillion dollars. Increase for 2010 is another 1.65
trillion, making the 2 year total an increase of 3.53
billion. That is an increase in our nation's
TOTAL DEBT of about 35% - in just
2 years.

"My friends, we live in the greatest nation in the
history of the world. I hope you'll join with me as
we try to change it."
- Barack Hussein Obama

1-9-09 Barak Obama said "expect trillion dollar deficits
to be the reality for years to come". Unfortunately he
wasn't predicting the inevitable result of a fiscal
year's recession-caused reduction of revenue, but
rather his promise to spend our way into them.

The reason it is called the "Public Debt" is because,
while the government runs it up, it is American citizens
that owe it. It is an impossibility that these bills will
EVER be paid, let alone, by the generation that is
generating them. Transparently fraudulent, the so-
called "stimulus" plan only spends a small fraction of
the funds any fiscal year. This bill should be dubbed
The Communizing of America Bill. Once foreign lenders
are finally convinced America will NEVER be able to
repay the money we owe, expect interest rates to
sky rocket to levels we experienced under Jimmy
Carter and the last all Democrat administration.
They will likely go even higher, to failed banana
republic levels.

I wouldn't be so pissed if it were just me getting
screwed but this is about my children and my
grandchildren being sold into slavery and I don't
appreciate it one bit and as a matter of fact am
damned mad about it.

No it isn't just Obama, it's a lot of stupid people
that make excuses for him and run around like
rats in a maze looking for the way out when
there is none also.

I see a trend....

In fact, the "debt bomb" issue is over-hyped.

Your chart is a bit misleading.

To service the debt (not pay down, just pay the
interest), in fiscal 2010 we payed over $400 million,
that is about $1,300 for every man woman and child
in the USA. Since half pay no taxes that doubles it
to $2,600 just to stay afloat. Do you think you
would rather have that money in your pocket or
would you rather donate it to international financiers,
many of whom spend vast amounts to destroy the
country your forefathers fought and died to leave
to you??

And that is with interest rates a record lows, what
if the interest rates skyrocket like they did when
that sorry bastard Jimmy Carter nearly put me and
the wife and kids out in the cold because I was
stupid enough back then to agree to a floating
interest loan?

I thought we would never have a president in my
life time any sorrier than Jimmy Carter, I was
mistaken, we have one now.

"Whenever destroyers appear among men, they
start by destroying money, for money is men's
protection and the base of a moral existence.
Destroyers seize gold and leave to its owners a
counterfeit pile of paper. This kills all objective
standards and delivers men into the arbitrary
power of an arbitrary setter of values. Gold was
an objective value, an equivalent of wealth
produced. Paper is a mortgage on wealth that
does not exist, backed by a gun aimed at those
who are expected to produce it. Paper is a check
drawn by legal looters upon an account which
is not theirs: upon the virtue of the victims.
Watch for the day when it bounces, marked,
'Account overdrawn.'" -
Ayn Rand - Atlas Shrugged

 

[gsvol]

I see a trend....

In fact, the "debt bomb" issue is over-hyped.

Obama's Sea of Red | Michael D. Tanner | Cato Institute: Commentary

Hah! By the administration's own estimates, Obama's
$3.7 trillion budget would raise this year's budget
deficit to $1.65 trillion, the largest pool of red ink
since the end of World War II.

Overall, it'll add nearly $13 trillion to the national debt
over the next decade. By 2020, our gross debt would
reach $26 trillion — more than 100 percent of GDP.
That is, we'd owe more than the value of everything
produced in this country in a full year.

Republicans, no less than the president, have refused
to get serious about entitlement reform.

That's without counting the unfunded liabilities
of such entitlement programs as Medicare and Social
Security. Include the benefits that we've promised
under those programs in excess of projected revenues,
and our total future indebtedness could run as high
as $127.5 trillion.

Yes, that's trillion with a "T."

We'd owe an almost inconceivable
897 percent of GDP.

Greece would look like an object lesson in good
government by comparison.

All this red ink comes despite the fact that the
president would hike taxes by $1.6 trillion over
10 years, including a nearly $1 trillion income-
tax increase.

Apparently, Obama still believes that we can tax our
way to prosperity by penalizing the people and
businesses in this country who invest and create jobs.

Unfortunately the Republicans have a rather
spineless response, there is enough rhetoric
to keep the media happy but no real effort
to stop our plunge into the red.

Their option is to slow down, not stop, turn
around and go in the right direction!!