You know what else is interesting? That you believe that continually raising the debt ceiling is a viable solution to fixing our economy.
No, what is interesting is that you think our economy needs to be "fixed".
The debt ceiling is an antiquated law that should have been repealed a long time ago. It does absolutely nothing to stop our debt from accumulating.
If they wanted to do that, the law would have to be applied to laws being passed...not after the fact when the money is already spent. All the debt
ceiling does is put our economy and credit rating in jeopardy because it allows idiots to attempt to use it as a bargaining tool.
Our debt ratio is not a problem, which is why we are still considered the worlds economic powerhouse and why people still want to buy our debt. The
only real problem is that the GOP has sold this idea to the, not very intelligent, American public that "big numbers = bad". You never hear them talk
about the debt ratio to the GDP or our Wealth...only about how "big the debt is".
Answer me something...if someone who is making 15k a year has 500k in debt, would you say that is a bad thing? How about if someone who is making 10
million a year has 500k in debt, would you say that is a bad thing?
Do you see the difference?
Our debt ratio is not a problem, which is why we are still considered the worlds economic powerhouse
We're still considered the economic powerhouse because we have the highest GDP in the world. No other reason. Also, other countries don't want to
buy our debt, they have to -- it's a bailout, because America is too big to go bankrupt, considering the world depends on our currency [as it's
currently the world reserve, particularly because we have the highest GDP of any other country in the world.]
What planet do you live on that you think the gross domestic profit of the country is bigger than the debt?
Us debt as of today
US GDP 2012
This means if every single person in the country gave every penny we had [every single one] for a whole year, that we would still be in debt.
Now, consider the cost of living and tell me how long that would take to pay when nearly 90% of American's are spending over 95% of their earnings on
necessities. Food/Housing/Phones/Cars/Gas/Doctor's/Forced Insurance/Electric/Water/Child Care/School.
Yeah, lets also not factor in maintenance for infrastructure, bridges/roads/civics/traffic devices/surveillance.
Lets forget about social programs and municipalities too... None of those need funding, nah -- not at all.
After all that you're cut down to a few billion from your 14 trillion, to pay off 16 trillion. All the while the military keeps spending nearly a
trillion a year all by itself.
Also, with the debt getting bigger and bigger and bigger, it's only going to be more unfeasible to ever pay down. So if we don't start fixing it now
[while it's reasonable to fix] we're never going to be able to fix it.
How do you see this as not a problem?
How much do you think the debt will be in 2 years time?
Considering When bush jr was elected our debt was at 5.8 trillion, and when he was out it was 10.
Obama comes in at 10, and after just 4 years he's at 16 trillion.
So Obama adds 6 trillion to the debt in 4 years. [Half the time as Bush Jr.] Bush Jr. adds 4.3 trillion in 8 years.
Bush was ridiculous -- Obama is magnitudes beyond.
The point being, Debt is exponential. The more things you purchase, the more things you must maintain. The more assets you have, the more you spend
on them. America is spending way too much on the military industrial complex and not enough to cover the costs of operating.
For a country to have a GDP of 14 trillion [the highest in the world] and need to borrow from other less successful countries is incredibly laughable
in it's own right, and extremely telling of the problem.
Also, do you think these other countries are happy to bail us out and give us loans to operate?
You think China is so nice and likes us so much that they give us a loan?
No, they do it because they have to. America is "Too Big to Fail." If America fails, the global economy breaks down.
I don't know if you're aware that the Chinese government hates us -- you know this right?
People still don't see why the rest of the world hates America... It flabbergasts me.
We # up other people's countries with ill intent for greedy reasons, and we also force other countries to prop us up as we negligently spend all our
own money on business that doesn't involve us.
Really sounds like it doesn't need fixing, really sounds like we should just keep status quo right?
edit on 11-10-2013 by Laykilla because: (no reason given)