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101Speedster

Champion Author
Ventura

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Message Posted: Apr 20, 2011 1:04:09 PM

How high will we and our politicians let our national debt go?

U. S. National Debt Clock

It's currently $14,311,240,500,000 and climbing.
REPLIES (newest first) Post a Reply
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TuNnL
Champion Author Honolulu

Posts:1,877
Points:344,760
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Message Posted: Apr 5, 2014 6:54:39 PM

On Apr 1, 2014 at 3:51 AM, reb4 wrote:

>>> If 4 trillion run up by 43 president was un patriotic, what is 8 trillion by 44th president... <<<

You call it part of Barack Obama's continuing hypocrisy and an urgent need for Ron Paul Republicans to join with the Tea Party, Libertarians and Occupy Wall Street in taking this country back!
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therder
Champion Author Lexington

Posts:2,423
Points:1,923,620
Joined:Feb 2007
Message Posted: Apr 5, 2014 3:56:42 PM

The debt is going higher and higher. The money printing is going higher and higher. You've got to pay the price someday whether you like it or not. The longer you delay the day of reckoning, the worse the day of reckoning is going to be.
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reb4
Champion Author Chicago

Posts:22,033
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Message Posted: Apr 1, 2014 9:51:38 AM

The National Debt is now up to 17,551,097,000,000

If 4 trillion run up by 43 president was un patriotic, what is 8 trillion by 44th president...
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reb4
Champion Author Chicago

Posts:22,033
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Message Posted: Mar 6, 2014 8:25:59 AM

101Speedster, please back up your claims....

PS, current national debt is 17 trillion dollars

SMH
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101Speedster
Champion Author Ventura

Posts:31,478
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Message Posted: Mar 5, 2014 11:07:38 AM

Who was it, before elected, that said that excessive debt was unpatriotic? Oh, it was Obama.
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I75at7AM
Champion Author Dayton

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Message Posted: Mar 5, 2014 7:52:20 AM

Yes, therder, that's a whale of a debt that we are trucking down the road.......
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therder
Champion Author Lexington

Posts:2,423
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Message Posted: Mar 5, 2014 12:02:40 AM

Well the latest budget proposal has been released by the Obama administration. A lot of bragging about how it has "stabilized the debt to GDP ratio". That sounds good but the interest on the debt alone will soon be more than defense spending. Our road to ruin continues...
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101Speedster
Champion Author Ventura

Posts:31,478
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Message Posted: Feb 19, 2014 11:32:43 AM

It's currently $17,297,678,700,000 and climbing.
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reb4
Champion Author Chicago

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Message Posted: Feb 5, 2014 9:52:06 AM

Debt Up $6.666 Trillion Under Obama

I guess this administration believes in pedal to the medal... on spending...

Oh Jobs, ??? nahhhh...

disregard the 666 number....

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jeskibuff
Champion Author Tampa

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Message Posted: Dec 14, 2013 10:16:11 AM

karl13 said: "As high as necessary to keep the economy moving forward."

Pedal to the metal, eh?

About as responsible as a drunken teen behind the wheel of daddy's Ferrari, these Democrats are!
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Shockjock1961
Champion Author Illinois

Posts:22,437
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Message Posted: Dec 14, 2013 9:44:34 AM

"Reb, you should know by now, new revenue = new spending. Every time"

Illinois is the perfect example of that. They increased the tax rate 66% with the "intent" of balancing the budget. Three years later the state is even further in debt then it was before the tax increase...
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I75at7AM
Champion Author Dayton

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Message Posted: Dec 14, 2013 8:49:07 AM

Reb, you should know by now, new revenue = new spending. Every time.

The last chance for anything approaching a sane, responsible budget (that might someday reduce the debt) went away this week by a vote of 332-94. Congress voting for more spending now on a thin promise of future fiscal responsibility has been shown to be a strategy that both works and doesn't work. It works for the reps voting for it, and it doesn't work for the nation's financial health.
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therder
Champion Author Lexington

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Message Posted: Dec 14, 2013 6:05:24 AM

While we in the United States continue to let our deficit explode China is negotiating currency swap agreements with Europe, S. America, and the Middle East oil producers, and freezing out the dollar as the global reserve currency. China is also the world's largest buyer of physical gold, and has invested in every major gold producing company. The intent is obvious. China intends, at some point, to couple their currency to gold, silver, rare earth minerals, etc., and replace the dollar which is based on nothing except it's "reserve currency" status and ties to oil....the petro dollar. The petro-dollar is going to ultimately fail. The Chinese currency will ultimately come to dominate world trade. Once the dollar is no longer the defacto "reserve currency" we will be like Greece.
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reb4
Champion Author Chicago

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Message Posted: Dec 3, 2013 8:55:39 AM

this is still growing by leaps and bounds... the new taxes going into effect next year should help, if they would use the collected revenue to pay down the national debt....

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MahopacJack
Champion Author New York

Posts:9,040
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Message Posted: Nov 13, 2013 7:45:37 PM

~
Fed Official Appologizes for Quantitative Easying!

From the link, "I can only say: I'm sorry, America," he wrote. "The central bank continues to spin QE as a tool for helping Main Street. But I've come to recognize the program for what it really is: the greatest backdoor Wall Street bailout of all time."

Huszar told "Fast Money" that the bond-buying program, which was supposed to increase credit availability to consumers and businesses, didn't do so.

"There was actually a net decrease in mortgage lending," he said. "In fact, until 2012 mortgage lending was at a 15-year low."

QE's de facto support of the stock market left out a sizable portion of the people it was supposed to help, Huszar added. "
~
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101Speedster
Champion Author Ventura

Posts:31,478
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Message Posted: Nov 13, 2013 1:06:31 PM

It's currently $17,141,247,000,000 and climbing.

How's that HOPE and CHANGE working for you?
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karl13
Veteran Author Miami

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Message Posted: Nov 13, 2013 10:28:33 AM

As high as necessary to keep the economy moving forward.
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reb4
Champion Author Chicago

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Message Posted: Nov 13, 2013 9:51:32 AM

Current Debt - as of 11/8/2013:
Current

Debt Held by the Public - $12,206,181,243,592.72

Intragovernmental Holdings - $4,945,446,224,366.78

Total Public Debt Outstanding - $17,151,627,467,959.50“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘trillion’ with a ‘T.’ That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers.”.

That is a quote from Senator Obama... 2007
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PopcornPirate
Champion Author New Jersey

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Points:1,354,480
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Message Posted: Oct 25, 2013 10:05:06 AM

There is no incentive for those on welfare to work or be productive. Why should they. Someone else is taking care of them.
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I75at7AM
Champion Author Dayton

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Points:2,762,495
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Message Posted: Oct 23, 2013 2:53:30 PM

News Nugget:

Report: U.S. Spent $3.7 Trillion on Welfare Over Last 5 Years

Read carefully, that this figure does not include Social Security and Medicare, programs which the recipients paid into over the years. The programs included in this $3.7 TRILLION are true welfare programs.
"The common feature of means-tested assistance programs is that they are graduated based on a person’s income and, in contrast to programs like Social Security or Medicare, they are a free benefit and not paid into by the recipient," says the minority side of the Senate Budget Committee."

You can divide the $3.7 Trillion by five, and get $740 Billion per year.
This is a substantial chuck of the Federal Budget. Over the years it really adds up.

Remember that each $ One Billion that the federal government spends is equal to about $3 per man, woman, and child in the country. So the spending of $740 Billion per years is about $2,220 spent per man, woman, and child in the country. That means that for my family of four, the government spent, in our name, $8,880 just on welfare, per year. We know that many families are net recipients and not paying much into the system through taxes.

Can we really afford to spend money like this?
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greentre
Champion Author Pensacola

Posts:1,272
Points:396,520
Joined:Oct 2011
Message Posted: Oct 19, 2013 10:06:55 PM

Oh, and here is the DAILY TREASURY STATEMENT so that some doubting Thomases can read the numbers from the government for themselves.

The numbers are on page 2, TABLE III-C - Debt Subject to Limit.

Closing Balance - Today $ 17,027,544
Opening Balance - Today - $ 16,699,396
= $ 328,148 Debt INCREASE

Btw, these numbers are in MILLIONS.
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greentre
Champion Author Pensacola

Posts:1,272
Points:396,520
Joined:Oct 2011
Message Posted: Oct 19, 2013 9:48:46 PM

Hey Reb4,

You should have posted this chart, not that they would understand anyways.

Overnight National Debt Increase

Oh wait, that's right, it's the Cons fault anyways, or was it Bush or Aliens or....
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101Speedster
Champion Author Ventura

Posts:31,478
Points:2,825,055
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Message Posted: Oct 19, 2013 6:55:59 PM

Are all of you democrats celebrating that another pork bill has been passed, our debt is higher than ever, and the U. S. is one step closer to going over the fiscal cliff?
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reb4
Champion Author Chicago

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Message Posted: Oct 19, 2013 2:42:20 PM

10/17/2013 - Total debt 17,075,590,107,963.57



Failure of Leadership...





Let's see how your fearless leader resolves this.. I previously stated Billion, so, sorry, not used to big #'s like that .. its over 17 Trillion..





That's Trillion, with a "T" Mr. President...

The above link is the full text of the speech... then Senator Obama made...
Now he says we shouldnt have a balanced budget just for the sake of having a balanced budget...

That my friends is true leadership...


[Edited by: reb4 at 10/19/2013 2:47:07 PM EST]
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SE3.5
Champion Author Indianapolis

Posts:20,395
Points:3,494,715
Joined:May 2004
Message Posted: Oct 18, 2013 5:04:34 PM

There is NEVER enough money for the government!

Tax his land,
Tax his bed,
Tax the table,
At which he's fed.

Tax his tractor,
Tax his mule,
Teach him taxes
Are the rule.

Tax his work,
Tax his pay,
He works for
peanuts anyway!

Tax his cow,
Tax his goat,
Tax his pants,
Tax his coat.

Tax his ties,
Tax his shirt,
Tax his work,
Tax his dirt.

Tax his tobacco,
Tax his drink,
Tax him if he
Tries to think.

Tax his cigars,
Tax his beers,
If he cries
Tax his tears.

Tax his car,
Tax his gas,
Find other ways
To tax his ass.

Tax all he has
Then let him know
That you won't be done
Till he has no dough.

When he screams and hollers;
Then tax him some more,
Tax him till
He's good and sore.

Then tax his coffin,
Tax his grave,
Tax the sod in
Which he's laid...

Put these words
Upon his tomb,
'Taxes drove me
to my doom...'

When he's gone,
Do not relax,
Its time to apply
The inheritance tax.
Accounts Receivable Tax
Building Permit Tax
CDL license Tax
Cigarette Tax
Corporate Income Tax
Dog License Tax
Excise Taxes
Federal Income Tax
Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax (currently 44.75 cents per gallon)
Gross Receipts Tax
Hunting License Tax
Inheritance Tax
Inventory Tax
IRS Interest Charges IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Taxes
Marriage License Tax
Medicare Tax
Personal Property Tax
Property Tax
Real Estate Tax
Service Charge Tax
Social Security Tax
Road Usage Tax
Recreational Vehicle Tax
Sales Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Taxes
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Nonrecurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Taxes
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax

Not one of these taxes existed 100 years ago, & our nation was the most prosperous in the world. We had absolutely no national debt, had the largest middle class in the world. What happened?
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ldheinz
Champion Author Chicago

Posts:21,757
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Message Posted: Oct 17, 2013 10:42:27 AM

The US credit rating SHOULD be downgraded. We still have no concept of fiscal responsibility.
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I75at7AM
Champion Author Dayton

Posts:71,351
Points:2,762,495
Joined:Feb 2006
Message Posted: Oct 17, 2013 9:56:16 AM

Shock headline:
Chinese agency downgrades US credit rating

"A Chinese ratings agency downgraded its US sovereign credit rating Thursday despite Washington's resolution of the debt ceiling deadlock, warning that fundamentals for a potential default remained "unchanged"."

""The fundamental situation that the debt growth rate significantly outpaces that of fiscal income and gross domestic product remains unchanged," Dagong said in the statement, adding Washington's solvency was vulnerable as old debts were still repaid through raising new debts.

"Hence the government is still approaching the verge of default crisis, a situation that cannot be substantially alleviated in the foreseeable future," it said."

It seems that the Chinese know us better than we know ourselves. And despite being Communists, they know capital markets better than we do too.

Another shock headline: (Infowars always uses "shock" headlines...)

Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers
"What this constitutes is a war on cash and a war on small business and individuals."
"This is where the mega banks have wanted to take us all along – a total cashless society that destroys all privacy and allows them to fine and fee the general population into serfdom."

[Edited by: I75at7AM at 10/17/2013 10:04:09 AM EST]
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reb4
Champion Author Chicago

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Message Posted: Oct 17, 2013 9:35:10 AM

“The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. Over the past 5 years, our federal debt has increased by $3.5 trillion to $8.6 trillion. That is ‘trillion’ with a ‘T.’ That is money that we have borrowed from the Social Security trust fund, borrowed from China and Japan, borrowed from American taxpayers.”.

That is a quote from Senator Obama... 2007

now our debt is close to 17 Billion...

This is a sign of Leadership Failure...

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karl13
Veteran Author Miami

Posts:253
Points:224,560
Joined:Jan 2013
Message Posted: Oct 3, 2013 8:58:47 AM

Debt is the American way. You are not doing your part unless you spend more than you make.
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reb4
Champion Author Chicago

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Message Posted: Oct 3, 2013 8:45:49 AM

SE 3.5, sad commentary on how perspectives changes, in just 7 short years... Wonder if anyone asked him about that comment in the meeting yesterday afternoon...

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SE3.5
Champion Author Indianapolis

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Message Posted: Sep 20, 2013 3:45:23 PM

"The fact that we are here today to debate raising America's debt limit is a sign of leadership failure. America has a debt problem and a failure of leadership. Americans deserve better. I, therefore, intend to oppose the effort to increase America's debt."

--Barack Obama, 2006
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Jorgie
Champion Author Twin Cities

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Message Posted: Sep 19, 2013 7:15:23 PM

To quote our President " raising the debt ceiling won't raise our national debt" ??????????????????????????????????????????????????
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theTower
Champion Author Indiana

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Points:510,885
Joined:Jun 2007
Message Posted: Sep 19, 2013 9:52:46 AM

"I can't believe 0bama actually said that bundle with a straight face."

His apologists and Obobbleheads will believe it.
Probably defend it as reality too.
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Tru2psu2
Champion Author Winston-Salem

Posts:16,648
Points:1,874,455
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Message Posted: Sep 19, 2013 8:42:08 AM

Once they move away from the greenback, lookout!
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jdhelm
Champion Author Iowa

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Message Posted: Sep 19, 2013 7:40:10 AM

more koolaid please?
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I75at7AM
Champion Author Dayton

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Points:2,762,495
Joined:Feb 2006
Message Posted: Sep 18, 2013 11:56:43 PM

0bama: "Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress...."

So, Congress has raised the debt ceiling over 100 times. Why? Because every time Congress raises the debt limit, they manage to continue to spend over revenue (deficit spending) until the nation bumps up against the new ceiling. And they then need to raise ti again.

So yes, 0bama, raising the debt ceiling does indeed lead directly and quickly to the national debt increasing. The track record is irrefutable.

I can't believe 0bama actually said that bundle with a straight face.
...Well, okay I can believe it, after all he was just reading it from his teleprompter.
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reb4
Champion Author Chicago

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Message Posted: Sep 18, 2013 10:56:09 PM

Obama: 'Raising the Debt Ceiling...Does Not Increase Our Debt,' Though It Has 'Over 100 Times'

Raising the debt ceiling doesn't increase the nation's debt, Pres. Obama declared in a speech today.

In a speech at the Business Roundtable headquarters in Washington, D.C., Obama dismissed concerns about raising the debt ceiling by noting that it'd been done so many times in the past:

"Now, this debt ceiling -- I just want to remind people in case you haven't been keeping up -- raising the debt ceiling, which has been done over a hundred times, does not increase our debt; it does not somehow promote profligacy. All it does is it says you got to pay the bills that you've already racked up, Congress. It's a basic function of making sure that the full faith and credit of the United States is preserved."

Obama went on to suggest that "the average person" mistakenly thinks that raising the debt ceiling means the U.S. is racking up more debt:

"It's always a tough vote because the average person thinks raising the debt ceiling must mean that we're running up our debt, so people don't like to vote on it, and, typically, there's some gamesmanship in terms of making the President's party shoulder the burden of raising the -- taking the vote."

But, isn't the fact that the U.S. has hit its debt ceiling "over a hundred times" - and, thus, has had to keep raising it - proof that raising the limit does, in fact, lead to increased debt?

this is better than comedy...
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101Speedster
Champion Author Ventura

Posts:31,478
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Message Posted: Aug 29, 2013 8:06:57 PM

32 days to go!
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nstrdnvstr
Champion Author Twin Cities

Posts:39,335
Points:4,311,430
Joined:May 2001
Message Posted: Aug 29, 2013 3:38:06 PM

How can that debt be so high? Obama said it was "irresponsible and unpatriotic" to raise the debt so high!
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101Speedster
Champion Author Ventura

Posts:31,478
Points:2,825,055
Joined:May 2005
Message Posted: Aug 27, 2013 8:21:11 PM

34 days to go.
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I75at7AM
Champion Author Dayton

Posts:71,351
Points:2,762,495
Joined:Feb 2006
Message Posted: Aug 23, 2013 4:37:54 PM

The "debt" can be calculated different ways.
One way is the total of outstanding bonds.
Another is the total of outstanding bonds that are not held by the public treasury (possibly not including that held by the Federal Reserve, a semi-autonomous publicly-chartered yet private institution).

A third way is to look at all the liabilities, present and future. This includes all promises of future payouts, including federal pensions, and Social Security Medicare, and other entitlement payments. That one is known as the "Fiscal Gap". (It's bigger than the gap in Madonna's front teeth)
This article addresses the fiscal gap.

A Truly Smart Idea Republicans and Democrats Actually Agree On

"By one prominent economist’s calculation, the U.S. federal government faces a long-term “fiscal gap”—the difference between projected future expenditures and receipts—of about $200 trillion."

"The existence of a huge fiscal gap says America is spending beyond its means, but it doesn’t necessarily mean the government needs another big round of cuts, at the expense of social programs and the military, when the new fiscal year begins on Oct. 1."
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101Speedster
Champion Author Ventura

Posts:31,478
Points:2,825,055
Joined:May 2005
Message Posted: Jul 18, 2013 5:02:53 PM

Approximate U. S. Public Debt Subject to Limit after the can was kicked down the road again: $16,844,000,000,000.

We appear to have crashed through the debt ceiling AGAIN $23 billion ago.
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PhilyPhanatic
Sophomore Author Phoenix

Posts:167
Points:204,465
Joined:Jun 2013
Message Posted: Jul 10, 2013 1:30:40 PM

$16,742,575,941,448.67 / 313,914,040 (2012 Pop. Est., not counting illegals, lol) = 53,300+ per every US Citizen.

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therder
Champion Author Lexington

Posts:2,423
Points:1,923,620
Joined:Feb 2007
Message Posted: Jul 10, 2013 11:15:39 AM

You know what's a national embarrassment? That we are $17 trillion in the hole and if you count unfunded future obligations, which the government would have to do if it played by the accounting rules it enforces on businesses, we'd be marking about $90 trillion in liabilities on the books. Everybody complains that their piece of the federal pie is such a small portion. And, when you add them all up, that spending still exceeds our revenue . . . every . . . stinking . . . year.
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kiatoindos
Champion Author Chicago

Posts:2,188
Points:335,110
Joined:Dec 2012
Message Posted: Jul 9, 2013 8:40:40 AM

Just print more money!
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Shockjock1961
Champion Author Illinois

Posts:22,437
Points:2,511,580
Joined:Apr 2006
Message Posted: Jul 9, 2013 8:27:53 AM

What fact have I twisted? You are very Vocal advocate for government handouts when it concerns Solar Panels and EV's...

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101Speedster
Champion Author Ventura

Posts:31,478
Points:2,825,055
Joined:May 2005
Message Posted: Jul 9, 2013 4:13:22 AM

Mr. 'Twist the facts and comments' posts again.
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Shockjock1961
Champion Author Illinois

Posts:22,437
Points:2,511,580
Joined:Apr 2006
Message Posted: Jul 8, 2013 6:39:58 AM

"I don't like politicians spending more of our tax money than what actually comes into the government coffers."

Unless, of course, the money they are spending is going to one of your liberal pet projects...
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101Speedster
Champion Author Ventura

Posts:31,478
Points:2,825,055
Joined:May 2005
Message Posted: Jul 8, 2013 12:04:00 AM

Approximate U. S. Public Debt Subject to Limit after the can was kicked down the road again: $16,844,000,000,000.

We appear to have crashed through the debt ceiling AGAIN $60 billion ago.
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101Speedster
Champion Author Ventura

Posts:31,478
Points:2,825,055
Joined:May 2005
Message Posted: Jun 13, 2013 5:49:01 PM

>>I simply stated you were a hypocrite because you whine eccensantly about the deficit while advocating and promoting liberal handouts such as the tax credit for EV's...<<

I don't whine, Shock. I don't like politicians spending more of our tax money than what actually comes into the government coffers. You seem to love to twist what I say and mischaracterize my position. But that's what trolls do.

>>Yes, let’s eliminate subsidies—starting with those that make electricity from oil, gas, and coal artificially cheap.<<

Why do you insist on holding me to a higher standard than ExxonMobil, Shock, or Big Oil?



[Edited by: 101Speedster at 6/13/2013 5:50:42 PM EST]
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