The Deficet and Paul Ryan

As of July 2012, debt held by the public was $11.12 trillion,

while the intra-governmental debt was $4.81 trillion,

to give a combined total public debt outstanding of $15.93 trillion

Debt held by the public includes Treasury securities held by investors outside the federal government, including that held by individuals, corporations, the Federal Reserve System and foreign, state and local governments.

Debt held by government accounts or intragovernmental debt mainly includes non-marketable Treasury securities held in accounts administered by the federal government that are owed to program beneficiaries, such as the Social Security Trust Fund. Debt held by government accounts represents the cumulative surpluses, including interest earnings, of these accounts that have been invested in Treasury securities.

So public debt is borrowing by the government to pay it's bills in the form of Treasury notes sold to local state govs, other countries and individuals...

"intragovernmental debt" essentially measn the government taking SS and Medicare contributions and leaving an IOU from the Federal government in the form of a Treasury Note. That is now "debt" to the government.

Back to the 15.9 Trillion number (The total)

Afghanistan and Iraq Wars...costs are around 2.3 to 2.7 Trillion, with estimates it will cost around 3.7 - 4.4 Trillion when all is said and done.

www.reuters.com...

The Bush Era tax cuts for only those making over 250k cost 1.8 Trillion between 2002-2009

www.nytimes.com...

The Tarp Bailouts? 1.2 Trillion...
www.bloomberg.com...

Let's add it up...

Afghanistan and Iraq...lowest estimate of costs thus far..2.3 Trillion
Bush Era tax cuts for Millionaires...1.8 Trillion
Bailouts (2008).........1.2 Trillion

5.3 Trillion....

Here is the punchline....PAUL RYAN voted for all of it! He led the charge during the WARS, TAX BREAKS, BAILOUT spending spree.

WAR....Here he is spending 2.3-4.4 Trillion
Voted NO on removing US armed forces from Afghanistan. (Mar 2011)
Voted NO on investigating Bush impeachment for lying about Iraq. (Jun 2008)
Voted NO on redeploying US troops out of Iraq starting in 90 days. (May 2007)
Voted YES on declaring Iraq part of War on Terror with no exit date. (Jun 2006)
Voted YES on approving removal of Saddam & valiant service of US troops. (Mar 2004)
Voted YES on authorizing military force in Iraq. (Oct 2002)
votesmart.org...

TARP?? He didn't just vote for it, HE WROTE IT...

REP. RYAN: Well, I helped write the legislation that created the TARP

votesmart.org...

Anyone else appreciate the irony???

Also see here...From todays news..

Ryan came under fire this week after reports surfaced that Ryan requested stimulus funds for Wisconsin businesses even as he lambasted President Obama's $787 billion initiative as a waste of money. The congressman initially denied requesting the funds, but later Thursday evening said his office did make make the requests on behalf of the businesses.

www.cbsnews.com...

No irony... simply a totallackey pushing totalitarianism and part of the grand scheme...it is a shame that in a process designed to give us freedom to vote and result in the best possible choices for president and vice president that we ended up with these four assholes..

reply to post by Indigo5


Well, when you actually think about the "so called" debt and listen to both parties talk about reducing it, if you only understood the MASSIVE interest payments that the U.S. pays the Federal Reserve, then you would understand, that hell has a better chance of freezing over than this fraudulent debt EVER of being payed off!!!

The Federal Deficit is a much bigger Ponzi scheme than Bernie Madoff could EVER dream of!

It really blows my mind, that people argue over which party is responsible (they both are) and which party will BE more responsible on paying it off and getting our country back on track! (neither will!]

We have been duped by the bankers into believing we owe money based upon a fraudulent monetary system!! If the system is fraudulent, then that means we don't owe SQUAT!! Time to start arresting the criminal banking cartels and the government criminals that work for them!

The question is, does Romney think that Ryan's record is "radical and extreme," too?

As Politico reported yesterday, during his time in the Congress, Ryan voted for two of President George W. Bush's costliest initiatives: the Medicare Part D prescription drug benefit — estimated to cost more than $700 billion over 12 years — and the invasion of Iraq, costing taxpayers more than $800 billion. He also voted for the auto bailout, the bank bailout and even the highway bill that included the infamous "bridge to nowhere."

www.theroot.com...

Anyone who claims they're a fiscal conservative and votes for Republicans is a buffoon.

It's like saying you hate chinese food, then sitting down and eating a big plate of fried rice.

Originally posted by seeker1963
reply to post by Indigo5

 

Well, when you actually think about the "so called" debt and listen to both parties talk about reducing it, if you only understood the MASSIVE interest payments that the U.S. pays the Federal Reserve, then you would understand, that hell has a better chance of freezing over than this fraudulent debt EVER of being payed off!!!

Yes and that is "Public Debt"...what gets me is "Intragovernmental Debt"...

Social Security and Medicare only constitute a big chunk of the debt in the sense that the government borrowed those contributions from the program to finance tax breaks and wars....

When they say that those programs are unsustainable...they are saying they don't want to pay that money back...from a contribution and payout perspective they are forecasted as being just fine for at least the next 40-50 years.

It is each year that the government has to cash in those treasury notes (IOUs) to pay back the fund that they raided to pay for wars and tax breaks that they consider unsustainable...THAT seems a particular ugly line of BS.

Wouldn't life be grand if we could all simply pass laws eliminating our obligation to pay back money we borrowed?

Ryan was a cheerleader for the Bailouts, helped write TARP, took Obama stimulas money for WI...denied it yesterday, admits it today...he also was a cheerleader for the wars and war spending, tax breaks etc. etc.

Now he wants to default on our debts to Social Security and Medicare...to fund even bigger tax breaks for the wealthy.

That policy is "Unsustainable"....SS and Medicare are just fine, we need to stop giving Seniors safety net funds that they contributed over thier life to the 1% (bigger tax breaks)...see, he is consistent...the money keeps flowing from the 99% to the 1%...whether it be trashing Medicare, SS or whether it by bailouts.