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Originally posted by proximo
Originally posted by Come Clean
Originally posted by __rich__
If I owe you 10 grand, I have a problem.
If I owe you 10 million, YOU have a problem.
So, the USA owes Japan and China a few trillion.
THEY have the problem.
That's what I say!
Maybe someone can answer this for me. How does a family of five life change if we actually pay off the debt? What benefit will that family of five seen once the debt is paid off?
I kind of think like Reagan....deficits don't matter....to us! It matters to other people.
Well - deficits don't matter until they do. They don't matter till people are no longer willing to lend the US government money -
[edit on 25-7-2010 by proximo]
Originally posted by Mister1k
I don't think it takes a rocket scientist,or a economic major, a picture is worth a thousand words ,in this case, this picture, is worth a hella of a lot more.
www.usdebtclock.org...
I am still trying to figure out how a workforce of 138 million can sustain almost 310 million U.S citizens. The Math doesn't seem to be working for the US. I personally don't think it ever will. And if this is any indication of the rest of the state of affairs of the rest of the world,it seems to me,historically the only way to get out of the mess, like before, is genocide. The tools in which we achieve it matters not. We have seen it before WWI,WWII. WE all know whats coming. The Titanic is sinking!!! and there are not enough lifeboats. Mister
Originally posted by __rich__
Originally posted by Come Clean
Originally posted by __rich__
If I owe you 10 grand, I have a problem.
If I owe you 10 million, YOU have a problem.
So, the USA owes Japan and China a few trillion.
THEY have the problem.
That's what I say!
Maybe someone can answer this for me. How does a family of five life change if we actually pay off the debt? What benefit will that family of five seen once the debt is paid off?
I kind of think like Reagan....deficits don't matter....to us! It matters to other people.
As long as we have food, clothing, and shelter, the rest are just numbers.
Originally posted by Surfrat
The Members of the European market are required to keep debt no more the 3 percent of GDP and we are worried about them?
With our debt to GDP; I guess we wouldn't be welcome there
Originally posted by Come Clean
Originally posted by proximo
Originally posted by Come Clean
Originally posted by __rich__
If I owe you 10 grand, I have a problem.
If I owe you 10 million, YOU have a problem.
So, the USA owes Japan and China a few trillion.
THEY have the problem.
That's what I say!
Maybe someone can answer this for me. How does a family of five life change if we actually pay off the debt? What benefit will that family of five seen once the debt is paid off?
I kind of think like Reagan....deficits don't matter....to us! It matters to other people.
Well - deficits don't matter until they do. They don't matter till people are no longer willing to lend the US government money -
[edit on 25-7-2010 by proximo]
That's the problem though. They don't lend us money. They buy our securities. Basically, they buy our IOU's. Then we print money based on those securities.
This government is too big to fail. The entire world would crumble in one fail swoop if we failed. Cargo ships of money would come our way if the rest of the world thought we would fail.
But if we decided to default on our IOU's then the rest of the world would just have to adjust. They can't live unless we live.
But you never answered my question. If the debt was paid off how does that affect ME personally. Last time I checked, the government has never came after me about the national debt.
Originally posted by queenannie38
reply to post by highlyoriginal
you know why it's this way, don't you?
WAR
the government spends over 54% of the Federal budget EVERY year on military, defense, homeland security, etc.
which are all nice words for making war on foreign soils.
Originally posted by Come Clean
Maybe someone can answer this for me. How does a family of five life change if we actually pay off the debt? What benefit will that family of five seen once the debt is paid off?
Originally posted by IgnoranceIsntBlisss
I think by now most people have a pretty good idea that we're screwed financially, and more.
But the question that needs to be answered is WHY...
Originally posted by silent thunder
I vote for simple human greed, incompetence, and short-term thinking.
Originally posted by queenannie38
reply to post by highlyoriginal
you know why it's this way, don't you?
WAR
the government spends over 54% of the Federal budget EVERY year on military, defense, homeland security, etc.
which are all nice words for making war on foreign soils.
i'm going to cut and paste a post i made in another thread, because it's relevant here, too, and if i just link to it, not many will see the information.
but here's the link to the thread, as well.
------------------------
Originally posted by queenannie38
Worldwide, the annual cost for military "defense" is $1000 billion - that is 1 trillion dollars.
Last year, in 2009, the U.S. spent $742 billion on the military.
That's 75% of the total global expenditure.
This comes out to around $12 billion a month.
If you ask a representative of government how much of we-the-people's money is going for defense, depending on who you ask, you will get a variety of answers. These answer are more often than not in the form of percentages.
Such as:
4% of the GNP (gross national product) is spent on "National Security"
Oh, okay, well, that's not so bad, is it?
But even percentages can be startling:
54% of the Federal Budget = 4% of the GNP
What does the GNP have to do with Federal Military Spending, anyway?
Gross National Product (GNP) is the market value of all goods and services produced in one year by labor and property supplied by the residents of a country.
source
Federal Budget:
During FY 2009, the federal government collected approximately $2.1 trillion in tax revenue. Primary receipt categories included individual income taxes (43%), Social Security/Social Insurance taxes (42%), and corporate taxes (7%). Other types included excise, estate and gift taxes. Tax revenues have averaged approximately 18.3% of gross domestic product (GDP) over the past 40 years, generally ranging plus or minus 2% from that level.
source
US Military Budget at Wiki provides an in-depth breakdown of this spending.
The U.S. average national unemployment rate is 9.7 percent. Only those who are actively looking for work are included in this statistic. Among Black Americans, the rate is 15.5 percent and Latinos, 12.4 percent, according to the Bureau of Labor Statistics.
The Congressional Budget Office predicts that unemployment will remain almost unchanged in 2011, about 9.5 percent.
Many families have been surviving on small, weekly unemployment checks provided for 26 weeks by their state government, and an additional 73 weeks by the federal government. The first group of unemployed to run through both benefits hit that point Jul. 1, and today about a million people are receiving no assistance at all. About nine million more are still receiving unemployment payments.
Congress is considering extending federal assistance for another 20 weeks. The House approved the legislation, but the Senate did not. Congress left town for its holiday break until mid-July without passing the legislation.
In the Senate the issue fell almost precisely along party lines, with all but one Democrat for extending the benefit, and all but two Republicans against it, saying the 34- billion-dollar cost was not worth adding to the federal deficit.
source
According to the Department of Labor:
The average weekly unemployment insurance check is $292.
That's $1168 a month and $14,016 a year.
As of June, 2010, the national unemployment rate was 9.5%.
(but remember, this is only those who are actively looking for jobs who are registered with the DOL - an alternate way of counting puts it near 20%.)
The number of INITIAL unemployment claims for the week ending July 3, 2010 was 454,000.
President Obama's call last year for "shared sacrifice" doesn't extend to federal employees, at least based on the details of his administration's 2010 budget released this week.
At a time when the official unemployment rate is nearing double digits, and 6.35 million people are receiving unemployment benefits, the U.S. government is on a hiring binge.
Executive branch employment — 1.98 million in 2009, excluding the Postal Service and the Defense Department — is set to increase by 15.6 percent for the 2010 fiscal year. Most of that is thanks to the Census Bureau hiring 102,000 temporary workers, but not counting them still yields a net increase of 2 percent in one year.
There's little belt-tightening in evidence in Washington, D.C.: Counting benefits, the average pay per federal worker will leap from $72,800 in 2008 to $75,419 next year.
Meanwhile, according to Forbes' layoff tracker, there have been 558,087 layoffs since November 2008 at large public companies; even local school districts aren't immune. That's just a sliver of the total unemployed, which government data estimate to be 8.6 percent of the workforce, or an alternate method of reckoning that counts discouraged workers puts at 20 percent.
Some of the Feds' hiring increases have been stunning. If you look at the four-year period from 2006 to 2010, the number of Homeland Security employees has grown by 22 percent, the Justice Department has increased by 15 percent, and the Nuclear Regulatory Commission can claim 25 percent more employees. (These figures assume that Congress adopts Mr. Obama's 2010 budget without significant changes.)
source
there is no solution other than to quit war.
plain and simple
it gains nothing for anyone and it is death.
it will be the death of us, if we don't put a stop to it.
but it has to be a peaceful end or else it will not be an end but rather just a pause or a temporary break.
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