Great Depression vs. 'Great Recession'

Watermark said:
Rubbish. It's not like our debt as % of GDP hasn't been this high before - it's been higher. They dealt with that in the 50's and late 40's, which was a time of unparralled prosperity.
Click to expand...

They dealt with it or do we still have that debt from the 40's and 50's as well as the trillions from recent years?

Heck the bonds that paid for the S&L Bailout are just maturing I think. 30 yr treasury bonds.


Plus SS seems to be reaching the turnover point of surpluses soon so the govt will have to start redeeming 2.5 trillion in treasury bonds soon to pay SS benefits.
 
uscitizen said:
They dealt with it or do we still have that debt from the 40's and 50's as well as the trillions from recent years?
Click to expand...

The debt from the 40's and 50's has all been paid off. A long time ago. It would be negligible in modern terms anyway, what with inflation and wealth growth.

Our debt as a percentage of GDP dropped continously from the 40's until Reagans term, went down again in Clintons, and went back up again during Bushes. But even at the end of Bushes term it wasn't close to what it was in the late 40's.
 
Watermark said:
The debt from the 40's and 50's has all been paid off. A long time ago. It would be negligible in modern terms anyway, what with inflation and wealth growth.

Our debt as a percentage of GDP dropped continously from the 40's until Reagans term, went down again in Clintons, and went back up again during Bushes. But even at the end of Bushes term it wasn't close to what it was in the late 40's.
Click to expand...

so the USA had a period of no debt since the 40's and 50's?
 
uscitizen said:
so the USA had a period of no debt since the 40's and 50's?
Click to expand...

No but our debt as % of GDP went down until Reagan's time.

national-debt-gdp1.gif
 
Chapdog said:
I am posting this without comment because its stories are very stark and clear to me. Take a look and tell me what you see.

http://money.cnn.com/news/storysupplement/economy/recession_depression/
Click to expand...

I'd also like to point out that you're comparing 4 years to half a year.

By this time in the great depression they'd gone down about twice what we had. That's mainly because people just stood around and watched it happen - we acted during this recession, which has averted tragedy.
 
The total debt causes issues once it reaches a certain point.

Does the total debt include the 2.5 trillion owed to SS??

I wonder what our total debt really is?
 
uscitizen said:
The total debt causes issues once it reaches a certain point.

Does the total debt include the 2.5 trillion owed to SS??

I wonder what our total debt really is?
Click to expand...

Does anyone really care? Is there an end to the black holes?
 
uscitizen said:
The total debt causes issues once it reaches a certain point.

Does the total debt include the 2.5 trillion owed to SS??

I wonder what our total debt really is?
Click to expand...

10 trillion.

Again, our level of debt has been higher than this at other points in time, and the generation afterwards was one of the most prosperous in American history - precisely because post WWII stimulus allowed them to enjoy such prosperity. I support the stimulus because I love my grandchildren.
 
Watermark said:
10 trillion.

Again, our level of debt has been higher than this at other points in time, and the generation afterwards was one of the most prosperous in American history - precisely because post WWII stimulus allowed them to enjoy such prosperity. I support the stimulus because I love my grandchildren.
Click to expand...

No, our debt has not been ever even close to this high. What kind of clown are you to be cheerleading this kind of fiscal recklessness, this kind of irresolvable debt? Are you serious, or are you trolling?
 
Watermark said:
LIES, at best ignorance.

I'm not cheerleading anything. If giving out facts is "cheerleading", then clearly libertarians have a strange definition of the word. Truth is the antidote to conservatism.
Click to expand...

You're willfully lying. Our debt has never been this high.
 
Beefy said:
You're willfully lying. Our debt has never been this high.
Click to expand...

Only if you refuse to take inflation and wealth growth out of the picture, which is the only way your argument works. And it's absurd to rely on any debt statistic that doesn't neutralize those two confounding factors. Your entire argument relies on statistics that say more "Look, there's been inflation in this period!" and "Look, there's been wealth growth in the period!" than "Look, there's been more debt growth in this period!"
 
Watermark said:
Only if you refuse to take inflation and wealth growth out of the picture, which is the only way your argument works. And it's absurd to rely on any debt statistic that doesn't neutralize those two confounding factors. Your entire argument relies on statistics that say more "Look, there's been inflation in this period!" and "Look, there's been wealth growth in the period!" than "Look, there's been more debt growth in this period!"
Click to expand...

IN terms of what we owe, and what we produce, our debt is the highest ever. Sugr coat it, gift wrap it, jizz on it, I don't care. We've never been in debt this much, ever, and to cheerlead it shows a gargantuan AMOUNT OF WILLFUL ignorance.

I hit the caps button on accident, all emphasis to be disregarded.
 
Beefy said:
IN terms of what we owe, and what we produce, our debt is the highest ever. Sugr coat it, gift wrap it, jizz on it, I don't care. We've never been in debt this much, ever, and to cheerlead it shows a gargantuan AMOUNT OF WILLFUL ignorance.

I hit the caps button on accident, all emphasis to be disregarded.
Click to expand...

I understand. No pun intended.
 
You must log in or register to reply here.
Back
Top