The U.S. Is Not Drowning In Debt

[apple0154]

I only have a mortgage debt...car is payed for and I pay my CC debt every month- I guess I am sitting prettier then you middle aged men folk

Although my car is paid for I'm still paying for it.

I took it to another garage today. They're pulling the engine and properly fixing the clutch.

 

[The Dude]

I have longevity in my family, and unlike you I take care of myself and have remained happily married to the same gal, so yes I plan on skiing black diamond runs when I'm 100.

we'll if you were 50 you wouldn't be lying as much as u usually do. we all know you passed 50 a long time ago gramps

 

[Canceled2]

Although my car is paid for I'm still paying for it.

I took it to another garage today. They're pulling the engine and properly fixing the clutch.

Apart from typical maintenance, oil; tires; etc.- my little Prius is a total money saver

Glad to know you are getting your cruiser back up and running before summer ends!

 

[Bfgrn]

Ah yes, he continues to once again cower from the questions posed to him.

IS the current debt held by public under 43% or not moron?

I am not referring to interest rate risk moron, I am referring to the amount of DEBT we have to REPAY. The intergovernmental debt is COMING DUE moron.... you see, those baby boomers just keep on getting older and requiring more and more money to pay their SS/Medicare/Medicaid.

So again moron... ARE you suggesting we simply don't need to pay them because 'some economists' don't look at that debt in terms of refi risks?

Again moron... 68% and 98%.... that is the percent of GDP for debt held by public and total debt respectively.

Now, are YOU ever going to acknowledge that or are you going to continue posting meaningless links to articles to which you clearly have no comprehension?

The OP is dated July 15, 2011. I admit some of the information I posted was dated, but the facts haven't changed. As recent as February, Comptroller General, David M. Walker agreed.

Friday, Feb 11, 2011 17:39 ET
What I learned from hanging out with deficit hawks

A David Walker speech is always worth listening to with care, for Mr. Walker is a reliable and thorough enumerator of popular deficit-scare themes. Three of these in particular caught my attention on Friday.

To my surprise, Walker began on a disarming note: he acknowledged that the level of our national debt is not actually high. In relation to GDP, it is only a bit over half of what it was in 1946. And to give more credit, the number Walker used, 63 percent, refers to debt held by the public, which is the correct construct -- not the 90+ percent figure for gross debt, commonly seen in press reports and in comparisons with other countries. The relevant number is today below where it was in the mid-1950s, and comparable to the early 1990s.

What you right wing pea brains can't comprehend is demanding spending cuts now is like medieval doctors who treated the sick by bleeding them, and thereby made them even sicker.

THE Right wing Reaganomics crowd STILL say we must listen to them...

 

[Cancel 2016.2]

The OP is dated July 15, 2011. I admit some of the information I posted was dated, but the facts haven't changed.

You are correct, the facts have not changed.

Even using 'debt owned by public', we are still at 68% of GDP. Well above the 43% average you attempted to tell us we were currently below (not to mention your pathetic attempts to mock me by saying we 'weren't on the edge of a cliff')

But again MORON.... TOTAL debt is what matters. It is the TOTAL we OWE to others. Whether or not the interest rate goes up on intergovernmental debt or not is a moot point. The point is that we OWE THE PRINCIPAL. WE HAVE TO PAY THAT AMOUNT MORON.

Our total debt to GDP is about 98%. It is FAR too high. as is your precious 'debt owned by public'.

What MORONS like you cannot comprehend is that NO ONE IS CUTTING OUR SPENDING. NO ONE. It is going to continue INCREASING. You fucking moron.

 

[Stallion]

The OP is dated July 15, 2011. I admit some of the information I posted was dated, but the facts haven't changed. As recent as February, Comptroller General, David M. Walker agreed.

Friday, Feb 11, 2011 17:39 ET
What I learned from hanging out with deficit hawks

A David Walker speech is always worth listening to with care, for Mr. Walker is a reliable and thorough enumerator of popular deficit-scare themes. Three of these in particular caught my attention on Friday.

To my surprise, Walker began on a disarming note: he acknowledged that the level of our national debt is not actually high. In relation to GDP, it is only a bit over half of what it was in 1946. And to give more credit, the number Walker used, 63 percent, refers to debt held by the public, which is the correct construct -- not the 90+ percent figure for gross debt, commonly seen in press reports and in comparisons with other countries. The relevant number is today below where it was in the mid-1950s, and comparable to the early 1990s.

What you right wing pea brains can't comprehend is demanding spending cuts now is like medieval doctors who treated the sick by bleeding them, and thereby made them even sicker.

THE Right wing Reaganomics crowd STILL say we must listen to them...

It is funny how you and your graph don't color the continued increase red under President Obama's tenure. You make a claim that a raise is correlated with Reagan + supply siders, then ignore the reality that debt is increasing under a liberal president. Are you always this dishonest in your interpretation of facts?

 

[DamnYankee]

we'll if you were 50 you wouldn't be lying as much as u usually do. we all know you passed 50 a long time ago gramps

Another logical fallacy (bullshit premise) from the debate master TopShit. And, you have no clue how old I am.

 

[Cancel 2016.2]

The OP is dated July 15, 2011. I admit some of the information I posted was dated, but the facts haven't changed. As recent as February, Comptroller General, David M. Walker agreed.

Friday, Feb 11, 2011 17:39 ET
What I learned from hanging out with deficit hawks

A David Walker speech is always worth listening to with care, for Mr. Walker is a reliable and thorough enumerator of popular deficit-scare themes. Three of these in particular caught my attention on Friday.

To my surprise, Walker began on a disarming note: he acknowledged that the level of our national debt is not actually high. In relation to GDP, it is only a bit over half of what it was in 1946. And to give more credit, the number Walker used, 63 percent, refers to debt held by the public, which is the correct construct -- not the 90+ percent figure for gross debt, commonly seen in press reports and in comparisons with other countries. The relevant number is today below where it was in the mid-1950s, and comparable to the early 1990s.

What you right wing pea brains can't comprehend is demanding spending cuts now is like medieval doctors who treated the sick by bleeding them, and thereby made them even sicker.

THE Right wing Reaganomics crowd STILL say we must listen to them...

tell us genius.... WHICH party controlled Congress from 1980-1994?

which party controlled Congress from 1994-2006?

Which party controlled Congress from 2007-2010?

Who controls the Budget? Congress or the President?

 

[Bfgrn]

It is funny how you and your graph don't color the continued increase red under President Obama's tenure. You make a claim that a raise is correlated with Reagan + supply siders, then ignore the reality that debt is increasing under a liberal president. Are you always this dishonest in your interpretation of facts?

Well let's look at that graph with a scenario that was 'conservative', i.e. building on the tenets and policies from the past that WORKED. Reagan and his supply-siders were not conservatives, they were RADICALS who were guided by IDEOLOGY, not history or conservatism.

 

[Stallion]

Well let's look at that graph with a scenario that was 'conservative', i.e. building on the tenets and policies from the past that WORKED. Reagan and his supply-siders were not conservatives, they were RADICALS who were guided by IDEOLOGY, not history or conservatism.

You completely ignored the main body of my quote which dealt with the rise since President Obama has taken office. You can't paint red the other rises and claim rises are due to Reagan and supply siders and then magically claim that once President Obama took office the rise has nothing to do with him, because you claim the previous rises all started at the beginning of Reagan and Bush. Additionally, as Superfreak pointed out, you ignore who the party was that controlled the legislative branch during Reagan's years. How is it you blame only Reagan and not congress, when it is congress who controls the spending?

 

[Bfgrn]

tell us genius.... WHICH party controlled Congress from 1980-1994?

which party controlled Congress from 1994-2006?

Which party controlled Congress from 2007-2010?

Who controls the Budget? Congress or the President?

Sorry, you can't have your cake and eat to too. You pin the blame on Clinton for legislation authored by a right wing ideologue who John McCain would have named Treasury Secretary. A bill ONLY liberals have chastised and very few if any Republicans have discredited.

BUT, now you want to reverse the tables? How convenient, and ignorant.

The Budget of the United States Government is the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1. Congressional decisions are governed by rules and legislation regarding the federal budget process. Budget committees set spending limits for the House and Senate committees and for Appropriations subcommittees, which then approve individual appropriations bills to allocate funding to various federal programs.

After Congress approves an appropriations bill, it is sent to the President, who may sign it into law, or may veto it.

 

[Cancel 2016.2]

Sorry, you can't have your cake and eat to too. You pin the blame on Clinton for legislation authored by a right wing ideologue who John McCain would have named Treasury Secretary. A bill ONLY liberals have chastised and very few if any Republicans have discredited.

You are such a hack. I blame BOTH parties for the deregulation. I blame BOTH parties for the debt increase each of the past 50+ years. I am not attempting to 'have it both ways'.... I am mocking idiots like you who continually show stupid fucking charts like you have on this thread and pretend it was just the President responsible.

The Budget of the United States Government is the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1. Congressional decisions are governed by rules and legislation regarding the federal budget process. Budget committees set spending limits for the House and Senate committees and for Appropriations subcommittees, which then approve individual appropriations bills to allocate funding to various federal programs.

After Congress approves an appropriations bill, it is sent to the President, who may sign it into law, or may veto it.

Such a good cut and paste... you should actually LINK to where you stole it from.


Now... are you EVER going to address the FACT that debt as a percentage of GDP, both total and debt held by public is FAR higher than you pretended earlier?

 

[The Dude]

Once again bfged ass fucks himself better than any of us even try too. Posting another old chart blasting supply siders. When you add obama it makes supply siders look like grannies with there change purse.
Please tell you kids not to drop out like you.
And please break your streak of outdated leftwing bs

 

[NOVA]

Sorry, you can't have your cake and eat to too. You pin the blame on Clinton for legislation authored by a right wing ideologue who John McCain would have named Treasury Secretary. A bill ONLY liberals have chastised and very few if any Republicans have discredited.

BUT, now you want to reverse the tables? How convenient, and ignorant.

The Budget of the United States Government is the President's proposal to the U.S. Congress which recommends funding levels for the next fiscal year, beginning October 1. Congressional decisions are governed by rules and legislation regarding the federal budget process. Budget committees set spending limits for the House and Senate committees and for Appropriations subcommittees, which then approve individual appropriations bills to allocate funding to various federal programs.

After Congress approves an appropriations bill, it is sent to the President, who may sign it into law, or may veto it.

The Budget of the United States Government is the President's proposal to the U.S. Congress ............

Tell us why didn't Obama propose a budget to the US Congress....? Its been over 2 years since the Democrat Senate even voted on a budget...

Or is you idea of a proposal, giving a speech and repeating sound bites for the press, and scaring the seniors about their SS checks....
Is that your idea of proposal to the US Congress......? spin away pinhead....

 

[apple0154]

Apart from typical maintenance, oil; tires; etc.- my little Prius is a total money saver

Glad to know you are getting your cruiser back up and running before summer ends!

I don't like temporary fixes. Breaking down when out for a drive just spoils the whole day.

That's the trouble with classic (old) cars. Some people have them and fix them temporarily because they don't have to depend on them. Then the next person (me ) has to deal with the "backyard mechanic" fixes.

I think I've found a good mechanic this time. He had about a dozen cars in his shop including a Lotus and a Maserati and, of course, a lot of British cars and it appeared he knew what he was talking about. It's supposed to be ready for the weekend. YIPPEE!

My wife was checking out the Chevy Volt. Gas is about $6.00/gal here for super. She does 70 miles a day for work with a Chevy Equinox. At 20 miles a gallon for gas that's 3.5 gallons @ $6.00 for $20/day. Our electricity is relatively inexpensive so there are savings to be had if we get an electric car.

I really don't know much about them. All I heard is when the batteries require replacing....

Anyway, my car budget this year is blown all to hell. Body and paint on the old Pontiac along with king pins and control arm bushings. Then the head gasket and now the clutch on the little one. Even my parts supplier is starting to feel sorry for me.

Probably cheaper if I just gave up cars and did the sensible thing and had a mistress like other guys my age.

PS. I like emoticons.

 

[Bfgrn]

Now... are you EVER going to address the FACT that debt as a percentage of GDP, both total and debt held by public is FAR higher than you pretended earlier?

I DID. Some information I posted was dated (2007) prior to the Bush/Republican CRASH.

But, I also posted information where in February, David Walker, former United States Comptroller General who is part of a debt scare-mongering tour ADMITS our debt level is not actually high. He used 63% in February. Do you REALLY expect he would change his story at 68%?

To my surprise, Walker began on a disarming note: he acknowledged that the level of our national debt is not actually high. In relation to GDP, it is only a bit over half of what it was in 1946. And to give more credit, the number Walker used, 63 percent, refers to debt held by the public, which is the correct construct

 

[The Dude]

Half of the democrats voted for the bill. Uh oh

 

[Phantasmal]

Our Congress is stupid!

 

[Phantasmal]

Yes, and as we very well know, the right never spends, spends, spends...they are totally innocent and do not have a hand in the debt that has risen over the past 30 years! They are so clean and pure and thrifty!

 

[Liberty]

What Tom says is, of course, true. We must not default.

Default on what?