DamnYankee
Loyal to the end
Hey pea brain...you can't invent a cliff, say we're on the edge of it and expect everyone to jump.
Here is the precipice we are NOT on...
Your chart is wrong:
The U.S. Is Not Drowning In Debt
- Thread starter Bfgrn
- Start date
Your chart is wrong:
Cancel 2016.2
The Almighty
Hey pea brain...you can't invent a cliff, say we're on the edge of it and expect everyone to jump.
Here is the precipice we are NOT on...
LMAO.... why isn't your chart up to date moron?
because like the other chart fail he had, he pulled it from some old dem talking point.
Fucking bfged put up the chart showing no change for 30 years and it was supposed to prove his point of winning the war on poverty going down.
He is still the poster boy for not dropping out.
The mind is a terrable thing to waiste, look at BFGED
Fucking bfged put up the chart showing no change for 30 years and it was supposed to prove his point of winning the war on poverty going down.
He is still the poster boy for not dropping out.
The mind is a terrable thing to waiste, look at BFGED
Cancel 2016.2
The Almighty
It is quite comical. It is like he thought 'gee, I wonder if I post a chart that runs through 2007 and pretend it is current... will anyone notice?'
Cancel 2016.2
The Almighty
Hey Bfgrn.... just in case you were desperately seeking the numbers that show what a complete moron you are.....
Current Debt is about 14.4 Trillion. 2010 GDP was about 14.5 Trillion. Can you do the math from there or do you want me to show you how close that is to 100%?
You can play with 'debt held by the public' all you want as well... bottom line, TOTAL debt is the amount we owe. Whether we owe it to ourselves or not.... it is still money the US is obligated to pay. (but that number is still over 68%)
Current Debt is about 14.4 Trillion. 2010 GDP was about 14.5 Trillion. Can you do the math from there or do you want me to show you how close that is to 100%?
You can play with 'debt held by the public' all you want as well... bottom line, TOTAL debt is the amount we owe. Whether we owe it to ourselves or not.... it is still money the US is obligated to pay. (but that number is still over 68%)
DamnYankee
Loyal to the end
If you remove the government spending portion of GDP, I imagine the numbers would look more disastrous.
Bfgrn
New member
Your chart is wrong:
NO, my chart shows the debt held by the public as a percentage of GDP, going back to 1940. Your chart show gross debt. Debt held by the public as a percentage of GDP is the proper construct. Gross debt is not.
But even gross debt is not what is was in 1946.
MYTH: The federal debt ratio is at record levels.
Fact: Economic growth has reduced the debt ratio below the historical average.
In 2008, America’s $5.4 trillion public debt represents 38 percent of its $14.3 trillion GDP. Despite all the hand-wringing over increased budget deficits, the 38 percent debt ratio is below the post-World War II average of 43 percent. Consequently, America’s debt burden is, in fact, low by historical standards. In fact, the current 38 percent debt ratio is below the ratio at any point during the 1990s. There is no mystery to why the debt ratio has dropped so much since World War II: Economic growth has dwarfed the rate of new debt issuance. Since 1946, inflation-adjusted debt has grown by 114 percent, but the economy has grown by 532 percent—nearly five times as rapidly.
Cancel 2016.2
The Almighty
apparently you are not done embarrassing yourself....
AGAIN moron... why aren't you using CURRENT numbers???
http://www.treasurydirect.gov/NP/BPDLogin?application=np
Current public debt is over 9.7 Trillion
Current TOTAL debt is over $14.3 Trillion
GDP last year was about $14.5 Trillion
TOTAL debt is the proper construct you moron as it is WHAT WE OWE IN TOTAL.
But even if you wish to play the 'debt held by public', the CURRENT percentage is over 68%.... FAR above the average of 43% you tout.
Bfgrn
New member
IF interest rates are your concern, then you should be SCREAMING to raise the debt ceiling and calling the teabaggers holding it hostage terrorists.
You really are a pea brain aren't you? Hey pea brain, try THIS...default on credit card payments and SEE what happens to interest rates.
Is there room in your little pea to fit the FACT raising the debt ceiling ONLY effects payment on what we ALREADY SPENT???
Cancel 2016.2
The Almighty
I see you have consumed as much kool aid as they would give you. I know you are embarrassed for having used and relied on such outdated talking points.
We are at historically LOW interest rates. The whole point that should be pushed is to STOP the idiots in DC from continuing to outspend our revenues each and every year.
The FACT is, you have been spoon fed a lie. The debt ceiling isn't being raised to simply accommodate current spending needs. It is providing them room to continue to outspend revenue. Which is not necessary.
Now, go ahead an run and hide as I know you are too embarrassed to actually ANSWER the questions posed to you.
SmarterthanYou
rebel
you really are the pea brain. government doesn't control itself, WE THE PEOPLE must do that. So how does one get a petulant little child that doesn't listen to you, to stop spending?
answer: you take away the credit card.
G
Guns Guns Guns
Guest
The Democrats will get their tax increases anyway, when they let George W. Bush’s tax cuts expire at the end of next year.
To achieve that, they have to do exactly nothing — the cuts are due to end anyway and all Obama has to do is make no effort to extend them.
If Obama and Boehner had been allowed to negotiate without the hysterics, they might have reached a more wide-ranging pact that would have made fundamental changes to the tax code as well as spending practices, in ways both sides claim to want, and which both agree is necessary.
But no. It was better to put a gun to the head of the economy and pull the trigger, just to see what would happen. Congratulations Tea Party. Big success.
http://fullcomment.nationalpost.com...-pact-is-a-victory-the-tea-party-can-have-it/
To achieve that, they have to do exactly nothing — the cuts are due to end anyway and all Obama has to do is make no effort to extend them.
If Obama and Boehner had been allowed to negotiate without the hysterics, they might have reached a more wide-ranging pact that would have made fundamental changes to the tax code as well as spending practices, in ways both sides claim to want, and which both agree is necessary.
But no. It was better to put a gun to the head of the economy and pull the trigger, just to see what would happen. Congratulations Tea Party. Big success.
http://fullcomment.nationalpost.com...-pact-is-a-victory-the-tea-party-can-have-it/
Bfgrn
New member
OK PEA brain...the CBO lays it out perfectly clear...CRYSTAL.
BTW, the CBO ALSO uses Federal Debt Held by the Public (Percentage of GDP) which is the correct construct, unless you view America as another Zimbabwe.
The chart show 2 scenarios. For all practical purposes, you can call the Extended-Baseline Scenario is the Democrat scenario and the Alternative Fiscal Scenario the Teapublican PEA BRAIN scenario.
The Extended-Baseline Scenario adheres closely to current law. Under this scenario, the expiration of the tax cuts enacted since 2001 and most recently extended in 2010, the growing reach of the alternative minimum tax, the tax provisions of the recent health care legislation, and the way in which the tax system interacts with economic growth would result in steadily higher revenues relative to GDP.
The Alternative Fiscal Scenario
The budget outlook is much bleaker under the alternative fiscal scenario, which incorporates several changes to current law that are widely expected to occur or that would modify some provisions of law that might be difficult to sustain for a long period. Most important are the assumptions about revenues: that the tax cuts enacted since 2001 and extended most recently in 2010 will be extended; that the reach of the alternative minimum tax will be restrained to stay close to its historical extent; and that over the longer run, tax law will evolve further so that revenues remain near their historical average of 18 percent of GDP. This scenario also incorporates assumptions that Medicare’s payment rates for physicians will remain at current levels (rather than declining by about a third, as under current law) and that some policies enacted in the March 2010 health care legislation to restrain growth in federal health care spending will not continue in effect after 2021.
IRONY...The Republicans want the budget to be balanced by keeping spending down rather than by raising tax revenues. They thus propose limiting spending to no more than 18% of gross domestic product (GDP).
The Teabagger party of PEA brains...
SmarterthanYou
rebel
fuckin clueless liberal idiots
Cancel 2016.2
The Almighty
OK PEA brain...the CBO lays it out perfectly clear...CRYSTAL.
BTW, the CBO ALSO uses Federal Debt Held by the Public (Percentage of GDP) which is the correct construct, unless you view America as another Zimbabwe.
The chart show 2 scenarios. For all practical purposes, you can call the Extended-Baseline Scenario is the Democrat scenario and the Alternative Fiscal Scenario the Teapublican PEA BRAIN scenario.
The Extended-Baseline Scenario adheres closely to current law. Under this scenario, the expiration of the tax cuts enacted since 2001 and most recently extended in 2010, the growing reach of the alternative minimum tax, the tax provisions of the recent health care legislation, and the way in which the tax system interacts with economic growth would result in steadily higher revenues relative to GDP.
The Alternative Fiscal Scenario
The budget outlook is much bleaker under the alternative fiscal scenario, which incorporates several changes to current law that are widely expected to occur or that would modify some provisions of law that might be difficult to sustain for a long period. Most important are the assumptions about revenues: that the tax cuts enacted since 2001 and extended most recently in 2010 will be extended; that the reach of the alternative minimum tax will be restrained to stay close to its historical extent; and that over the longer run, tax law will evolve further so that revenues remain near their historical average of 18 percent of GDP. This scenario also incorporates assumptions that Medicare’s payment rates for physicians will remain at current levels (rather than declining by about a third, as under current law) and that some policies enacted in the March 2010 health care legislation to restrain growth in federal health care spending will not continue in effect after 2021.
IRONY...The Republicans want the budget to be balanced by keeping spending down rather than by raising tax revenues. They thus propose limiting spending to no more than 18% of gross domestic product (GDP).
The Teabagger party of PEA brains...
apparently you are not done embarrassing yourself....
AGAIN moron... why aren't you using CURRENT numbers???
http://www.treasurydirect.gov/NP/BPD...application=np
Current public debt is over 9.7 Trillion
Current TOTAL debt is over $14.3 Trillion
GDP last year was about $14.5 Trillion
TOTAL debt is the proper construct you moron as it is WHAT WE OWE IN TOTAL.
But even if you wish to play the 'debt held by public', the CURRENT percentage is over 68%.... FAR above the average of 43% you tout.