US National Debt 😓
Forums › General Discussion › US National Debt 😓-
6tattoos wrote:
Everyone look. This is someone who acutally gives two shits about our economy. Keep it up!! 👊To help local econy this year I've hired ten people and for the last two years we purchase 100% local feed and grain and 90%purchases have been American product we grow our own fruits and veggies and supply a local market certain peaches and grapes
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LongShot15 wrote:
I buy local as much as possible. I also collect incriminating information on bankers, and insurance company CEOs. Sometimes I pull forced disapperence operations.I have a Question..What are YOU doing for the economy except post HERE? Ik that can be turned on me but hey answer. Lol
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💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
I also collect incriminating information on bankers, and insurance company CEOs. Sometimes I pull forced disapperence operations.
Are your services for hire? -
Nakana wrote:
If I know you, or you have the backing of a defense contractor.💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
I also collect incriminating information on bankers, and insurance company CEOs. Sometimes I pull forced disapperence operations.
Are your services for hire? -
The real problem is people buying crap they don't need then file for bankruptcy. 😥
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Yet we have been in debt since the 40's. Granted, the debt is growing at an alarming rate, and has been since the 80's.
This debt is made up of 2 parts, domestic and foreign debt. Domestic debt is that owed by the states. For example, when there is a natural disaster, money is given to the states effected. That money should be repaid, yet never is, and contributes to the national debt. It used to be that was a significant factor which over inflated the debt figure. It's money owed by a part of the US, to another part of the US, who would like that money back, but won't seek to collect it.
The other part is foreign debt, this is what is out of control and needs to be addressed. We're to the point where any individual would be urged to file bankruptcy. As a country, we either must cut spending drastically and repay this debt or go bankrupt, and who knows what that means.
The debt isn't truly $15T, but it's still out of control.
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Three word.......
VOTE RON PAUL
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⌖ajc⌖ wrote:
I'd rather blame the bankers for allowing that many toxic morgages to even happen. The average Joe was told that he could take out a mortgage, or a loan at too good to be true rates. Then when the bank also told this to everyone else as well, the rates went up. Then the bubble burst and everyone lost their minds. Then the banks were given a restart hedge and bailout paid for by whoever they might have not sold a toxic loan to yet. They made sure we all gave them money. The average Joe isn't nearly as cunning and devious.The real problem is people buying crap they don't need then file for bankruptcy. 😥
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Am certainly not sat on my arse like most sponging of the government!
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Budget surplus (+) or deficit (-):
-8.9% of GDP (2011 est.)
country comparison to the world: 191
Public debt:69.4% of GDP (2011 est.)
country comparison to the world: 30
62.9% of GDP (2010 est.)
note: data cover only what the United States Treasury denotes as "Debt Held by the Public," which includes all debt instruments issued by the Treasury that are owned by non-US Government entities; the data include Treasury debt held by foreign entities; the data exclude debt issued by individual US states, as well as intra-governmental debt; intra-governmental debt consists of Treasury borrowings from surpluses in the trusts for Federal Social Security, Federal Employees, Hospital Insurance (Medicare and Medicaid), Disability and Unemployment, and several other smaller trusts; if data for intra-government debt were added, "Gross Debt" would increase by about one-third of GDP -
revenues: $2.264 trillion
expenditures: $3.604 trillion
note: for the US, revenues exclude social contributions of approximately $1.0 trillion; expenditures exclude social benefits of approximately $2.3 trillion (2011 est.)Just a note, I pulled all these from the CIA world fact book.
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Holy crap.. This is a figure for the European Union!
Household income or consumption by percentage share:
lowest 10%: 1.1%
highest 10%: 26.9% (2010 est.)So the poorest 10% only get 1.1% of the currency. That nuts.
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💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
True, but if everyone paid 60 dollars...No. If you took every single dollar from every man, woman, and child in this country, and paid off our debt it still wouldn't be enough.
Our banking firms have loaned as much as 32 times the amount of tangible money they had to clients. This was allowed to happen by the Federal Reserve Bank, who due to pressure by Wall Street, did away with the red tape regulations that were in place to keep banks, and itself from just simply making money out of thin air.
Imagine you were allowed to print as much worthless money as you want, and loan it to people who weren't aware it was worthless. Then get them to sign contracts which allows you to take their homes and possessions when they can't give you real money to replace the worthless money you gave them. You are just making money out of thin air, and taking real things from people for it.
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Oh fuck off lol. You got me. I misspoke. I mean all the money every person had in their banks, and persons.
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It is our country and our government has spending issues like a lot of high power does and as such I'm willing to donate to pay of. Our debt with rule change to our spending limit it's expencive keeping us at a Triple AAA or AA plus country we don't need to be that we our government needs to learn to live within our means like us citizens do or thrive to do everyday so we can live properly and maybe start making some money off of our donations and medical and military assists is is a great country here and Colorado is beautiful
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💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Lol, European union is not a country.RANK
COUNTRY DEBT - EXTERNAL DATE OF INFORMATION
1 European Union
$ 16,080,000,000,000
30 June 2011
2 United States
$ 14,710,000,000,000
30 June 2011
3 United Kingdom
$ 9,836,000,000,000
30 June 2011
4 France
$ 5,633,000,000,000
30 June 2011
5 Germany
$ 5,624,000,000,000
30 June 2011
6 Japan
$ 2,719,000,000,000
30 June 2011
7 Italy
$ 2,684,000,000,000
30 June 2011 est.
8 Netherlands
$ 2,655,000,000,000
30 June 2011
9 Spain
$ 2,570,000,000,000
30 June 2011
10 Ireland
$ 2,357,000,000,000
30 June 2011 -
Space exploration can wait, if this one world government means the loss of freedoms. If they take away our power to choose, whether by force or subduction, I will fight it. I would die a free man. Not a slave to a system that is united to the interest of the elite and not the people. It's already like this, and freedom is being lost everyday. Whatever effects one group directly effects all indirectly.
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There is only one politician talking about the above worries. There is only one politician who gets it. There is only one politician who sees the writing on the wall. There is only one politician with a plan to eliminate excess spending, balance the budget, and pay down the debt.
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TheRamb Add: 86 wrote:
No shit... It just lists it because of the euro.💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Lol, European union is not a country.RANK
COUNTRY DEBT - EXTERNAL DATE OF INFORMATION
1 European Union
$ 16,080,000,000,000
30 June 2011
2 United States
$ 14,710,000,000,000
30 June 2011
3 United Kingdom
$ 9,836,000,000,000
30 June 2011
4 France
$ 5,633,000,000,000
30 June 2011
5 Germany
$ 5,624,000,000,000
30 June 2011
6 Japan
$ 2,719,000,000,000
30 June 2011
7 Italy
$ 2,684,000,000,000
30 June 2011 est.
8 Netherlands
$ 2,655,000,000,000
30 June 2011
9 Spain
$ 2,570,000,000,000
30 June 2011
10 Ireland
$ 2,357,000,000,000
30 June 2011 -
💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
So united states is number one. Ireland number 10, for such a small country we shouldn't be on that list.. That's the government for you!TheRamb Add: 86 wrote:
No shit... It just lists it because of the euro.💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Lol, European union is not a country.RANK
COUNTRY DEBT - EXTERNAL DATE OF INFORMATION
1 European Union
$ 16,080,000,000,000
30 June 2011
2 United States
$ 14,710,000,000,000
30 June 2011
3 United Kingdom
$ 9,836,000,000,000
30 June 2011
4 France
$ 5,633,000,000,000
30 June 2011
5 Germany
$ 5,624,000,000,000
30 June 2011
6 Japan
$ 2,719,000,000,000
30 June 2011
7 Italy
$ 2,684,000,000,000
30 June 2011 est.
8 Netherlands
$ 2,655,000,000,000
30 June 2011
9 Spain
$ 2,570,000,000,000
30 June 2011
10 Ireland
$ 2,357,000,000,000
30 June 2011 -
☣Golden Dino☣ wrote:
In school mate 😏LongShot15 wrote:
Well, what are YOU doing lolI have a Question..What are YOU doing for the economy except post HERE? Ik that can be turned on me but hey answer. Lol
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Jeff 🍆 Newton wrote:
I do and the only thing bad about Canada is we don't have good Super Bowl commercialsI wish I lived in Canada
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💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Yeah your right. We're not fighting our wars.I love how the Brits always blame the US fully for the economic collapse, yet their little island is in for nearly 10 trillion themselves! And they are a fraction of the size of the US! How are you Brits that indebt when we are the ones fighting all the wars?
We are fighting YOUR wars. -
Superyan wrote:
You send like ten guys lol. And besides we are supporting you and France in Libya right now so you can get your weird liters of gas.💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Yeah your right. We're not fighting our wars.I love how the Brits always blame the US fully for the economic collapse, yet their little island is in for nearly 10 trillion themselves! And they are a fraction of the size of the US! How are you Brits that indebt when we are the ones fighting all the wars?
We are fighting YOUR wars. -
Whats the worst that could happen if we dont pay it off? Its not like china is going to nuke us or anything like that...😪
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Fractional Reserve Warehousing, in this case banking, predates the Fed by more than 50 years. The Fed shares part of the blame but federal protections given to the banking sector since the mid 1800's are also to blame.
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Superyan wrote:
💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Yeah your right. We're not fighting our wars.I love how the Brits always blame the US fully for the economic collapse, yet their little island is in for nearly 10 trillion themselves! And they are a fraction of the size of the US! How are you Brits that indebt when we are the ones fighting all the wars?
We are fighting YOUR wars.It has gone both ways. I think, though, this is the big problem. Whose wars are we fighting anyways? It doesn't seem to be the American or British people who want to borrow money from the chinese for these wars. If the wars are not fought by the people's decree then why do we fight them. When was the last time we actually declared war?(I will give you a hint-it starts with world war and ends with two)
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💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Now you've offended me.Superyan wrote:
You send like ten guys lol. And besides we are supporting you and France in Libya right now so you can get your weird liters of gas.💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Yeah your right. We're not fighting our wars.I love how the Brits always blame the US fully for the economic collapse, yet their little island is in for nearly 10 trillion themselves! And they are a fraction of the size of the US! How are you Brits that indebt when we are the ones fighting all the wars?
We are fighting YOUR wars.
Do you know how many people of our country risk their lives for your war? You know how many have died for your war?
We've helped you Americans through your stupid war for ages. And you just throw it back in our faces.
You can tell my dead cousin that we only sent in 10 people. -
If we stop making interest payments or principal repayments, our cost of borrowing skyrockets because no new money would come into the system. We would stop making social security payments, Medicare, salaries to soldiers, USPS, traffic improvements, basically everything would just stop that is bank rolled by the federal government. This would have a contagion effect on state and local governments as well as most privately-held corporations. Basically it would suck if we defaulted whilst operating such a deficit. If we balanced our budget we could, in theory, tell our creditors to fuck off but then we would have a wealth of sociopolitical problems on our hands.
You could argue that the this may actually be happening as the federal reserve is forced to continually purchase us debt securities as the creditor of last resort. The Feds zero interest rate policy(zerp) is punishing savers and distorting the value of the dollar while pumping it's member banks with "free" cash.
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💚ǤƦєɛɲՊɑɳҳ℘ℎıƖҽ wrote:
Perhaps if we could tax every person every child 100% for a thousand years maybe we can knock out the intrestNo. If you .
Our banking firms have loaned as much as 32 times the amount of tangible money they had to clients. This was allowed to happen by the Federal Reserve Bank, who due to pressure by Wall Street, did away with the red tape regulations that were in place to keep banks, and itself from just simply making money out of thin air.
Imagine you were allowed to print as much worthless money as you want, and loan it to people who weren't aware it was worthless. Then get them to sign contracts which allows you to take their homes and possessions when they can't give you real money to replace the worthless money you gave them. You are just making money out of thin air, and taking real things from people for it.
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