We Finally Broke $14,000,000,000,000! - GoFuckYourself.com

BFT3K · 01-03-2011, 08:40 PM

US Debt Exceeds Fourteen Trillion! Yippy!

http://www.usdebtclock.org/

MetaMan · 01-03-2011, 08:41 PM

I just heard today that 100% of USA GDP is now 100% debt. LOL

moeloubani · 01-03-2011, 09:31 PM

congrats to the winners

Mr Happy · 01-03-2011, 09:37 PM

yes and china is coming to take over our farms

k0nr4d · 01-03-2011, 10:17 PM

congratulations!

will76 · 01-03-2011, 10:20 PM

3 years from now that number will be small and our tax rate to start trying to pay it down will be huge.

DaddyHalbucks · 01-03-2011, 10:45 PM

Hooray to Obama and the 150 Obamas in Congress and the thousands of Obamas in the state legislatures.

We are on the precipice.

Dodododa · 01-03-2011, 10:47 PM

Don't worry about it. When hyperinflation kicks in $14t won't seem like much. A loaf of bread will be $1,000,000 and the garbage man will be getting paid $1b a month.

Seriously though, inflation is the most effective means of debt reduction. They just don't like to say it out loud. That's why you're not allowed to see minute notes from Fed meetings.

fatfoo · 01-03-2011, 10:51 PM

Many people argue about the makeup of the financial statements of a company. A company could be 50% equity and 50% debt. Different companies could have different ratios of assets and liabilities. Think about financial terms such as Return on Investment, Liquidity, Current Assets and more. Think about whether the company pays liabilities when they are due. Think about loans, bad debt expenses, uncollectible debts, accounts receivable and contractual agreements. Think about the interest that could be collected from debt. Think about what an ideal balance sheet, income statement and statement of retained earnings would look like. The numbers are important. Too much debt could be a disadvantage to people. People or companies or countries can consider spending less money than they earn to have little debt.

V_RocKs · 01-04-2011, 12:19 AM

Quote:

Originally Posted by DaddyHalbucks

Hooray to Obama and the 150 Obamas in Congress and the thousands of Obamas in the state legislatures.

We are on the precipice.

Hmmm... This debt was there before Obama took office so should we talk about Bush now?

Or just realize that as a society we all suck ass. Dems, Reps, Indies.... All of them out for their own shit. Their own money. Their own gain at the expense of others. It is exactly how the Romans fell.

Chosen · 01-04-2011, 01:27 AM

Congrats to the americans...

BFT3K · 01-04-2011, 08:31 AM

Quote:

Originally Posted by V_RocKs

Hmmm... This debt was there before Obama took office so should we talk about Bush now?

Or just realize that as a society we all suck ass. Dems, Reps, Indies.... All of them out for their own shit. Their own money. Their own gain at the expense of others. It is exactly how the Romans fell.

Or just realize that our elected officials all suck ass. Dems, Reps, Indies.... All of them out for their own shit. Their own money. Their own gain at the expense of the average Joe.

Hank_Heartland · 01-04-2011, 08:42 AM

Greed will eventually consume you

pornguy · 01-04-2011, 08:48 AM

Who was the first president to leave office with a deficit.

djroof · 01-04-2011, 09:15 AM

congrats....

_Richard_ · 01-04-2011, 09:27 AM

Quote:

Originally Posted by DaddyHalbucks

Hooray to Obama and the 150 Obamas in Congress and the thousands of Obamas in the state legislatures.

We are on the precipice.

that tax break just put through added another 1 trillion to the deficit.

magicmike · 01-04-2011, 09:30 AM

Quote:

Originally Posted by Dodododa

Don't worry about it. When hyperinflation kicks in $14t won't seem like much. A loaf of bread will be $1,000,000 and the garbage man will be getting paid $1b a month.

Seriously though, inflation is the most effective means of debt reduction. They just don't like to say it out loud. That's why you're not allowed to see minute notes from Fed meetings.

I'd agree, but not quite as extreme as you've put it.

Jman · 01-04-2011, 09:30 AM

Better stock up on ammo's my southern friends...

_Richard_ · 01-04-2011, 09:45 AM

Quote:

Originally Posted by Jean-Francois

Better stock up on ammo's my southern friends...

haha what about us?

Raz · 01-04-2011, 10:17 AM

This is what happens when rich people don't pay taxes and are allowed to ship all the manufacturing jobs overseas where the pay is 10% of what it would be in the U.S.A. In the meantime the poor are expected to carry the country. It's called Reaganomics.

Jman · 01-04-2011, 10:20 AM

Quote:

Originally Posted by _Richard_

haha what about us?

It's to cold up here for our southern friends to invade and most of them know nothing about Canadia anyways... Let them invade Cuba and Mexico instead

stillsexy · 01-04-2011, 10:30 AM

Quote:

Originally Posted by BFT3K

US Debt Exceeds Fourteen Trillion! Yippy!

http://www.usdebtclock.org/

by the way, the website is not accurate... it's run by some algo formulas...the debt will never decrease...

marketsmart · 01-04-2011, 10:33 AM

this is why you can't give black people checkbooks....

they just go crazy.....

.

Vendzilla · 01-04-2011, 10:44 AM

Quote:

Originally Posted by V_RocKs

Hmmm... This debt was there before Obama took office so should we talk about Bush now?

.

Bush, oh yeah, it was 9.8 trillion when he left office or something like that, in two years it's gone up to 14 trillion, two fucking years?
Bush did his share, but the flood gates got opened two years ago, do we have better roads? Better healthcare? Better Border Security? Better security at the airports?

http://en.wikipedia.org/wiki/United_States_public_debt

SykkBoy · 01-04-2011, 11:07 AM

Quote:

Originally Posted by Vendzilla

Bush, oh yeah, it was 9.8 trillion when he left office or something like that, in two years it's gone up to 14 trillion, two fucking years?
Bush did his share, but the flood gates got opened two years ago, do we have better roads? Better healthcare? Better Border Security? Better security at the airports?

http://en.wikipedia.org/wiki/United_States_public_debt

Do you think if McCain had been elected we'd be any better off?

MetaMan · 01-04-2011, 11:11 AM

Anyone comparing Democrats VS Republicans is a complete idiot.

directfiesta · 01-04-2011, 11:19 AM

Quote:

Originally Posted by Vendzilla

Bush, oh yeah, it was 9.8 trillion when he left office or something like that, in two years it's gone up to 14 trillion, two fucking years?
Bush did his share, but the flood gates got opened two years ago, do we have better roads? Better healthcare? Better Border Security? Better security at the airports?

http://en.wikipedia.org/wiki/United_States_public_debt

Congrats the the whiners .....

Quote:

On Jan. 20, 2009, the day of Bush?s departure, the Gross Federal Debt was estimated at $10.627 trillion(3), an 85.5 percent increase since his inauguration.

http://www.bushtoll.com/2009/01/03/u...ore-and-after/

BFT3K · 01-05-2011, 09:53 AM

If every man, women, and child in the US came up with around $40,000, every penny of this debt would be paid off.

With population increases, plus interest, let's call it $45,000 each, over the next ten years.

That's $4,500 p/year, per person, for 10 years, and the entire $14 trillion is gone.

Of course, if the government cuts the military budget, cuts unnecessary corporate subsidies, pulls out of stupid wars, weens us away from oil, and just handles the money they already currently mismanage, more efficiently, that number would be much much less p/person, to the point where it might not even be noticeable.

Rochard · 01-05-2011, 09:57 AM

Quote:

Originally Posted by V_RocKs

Hmmm... This debt was there before Obama took office so should we talk about Bush now?

Or just realize that as a society we all suck ass. Dems, Reps, Indies.... All of them out for their own shit. Their own money. Their own gain at the expense of others. It is exactly how the Romans fell.

Bingo. The prior administration not only handed over the largest deficit to an incoming president ever, but also left the economy in shambles. And yet the Republicans blame the deficit on Obama, not even beginning to think their party and their president caused it.

The two party system is no longer working. Both parties need to be working in the "best interests of the American people" Instead they are more interested in making the side look bad.

PornGreen · 01-05-2011, 09:57 AM

Quote:

Originally Posted by Raz

This is what happens when rich people don't pay taxes and are allowed to ship all the manufacturing jobs overseas where the pay is 10% of what it would be in the U.S.A. In the meantime the poor are expected to carry the country. It's called Reaganomics.

maybe you should read some actual facts about how much the poor pay in taxes versus how much the rich pay. the bottom 50% of earners in this country pay 3% of taxes collected. thats 50% of the population paying 3% total. you couldn't be more wrong if you actually tried.

Dodododa · 01-05-2011, 10:28 AM

Quote:

Originally Posted by PornGreen

maybe you should read some actual facts about how much the poor pay in taxes versus how much the rich pay. the bottom 50% of earners in this country pay 3% of taxes collected. thats 50% of the population paying 3% total. you couldn't be more wrong if you actually tried.

And that bottom 50% consume most of the government services.

If they think they're in poverty now, wait and see what happens when the rich pack up and leave.

djroof · 01-05-2011, 10:30 AM

btw nice work....

Vendzilla · 01-05-2011, 01:18 PM

Quote:

Originally Posted by SykkBoy

Do you think if McCain had been elected we'd be any better off?

We will never know

Quote:

Originally Posted by directfiesta

Congrats the the whiners .....

I was thinking more about the democrats being in power over the house and senate for 4 years

Quote:

Originally Posted by Rochard

Bingo. The prior administration not only handed over the largest deficit to an incoming president ever, but also left the economy in shambles. And yet the Republicans blame the deficit on Obama, not even beginning to think their party and their president caused it.

The two party system is no longer working. Both parties need to be working in the "best interests of the American people" Instead they are more interested in making the side look bad.

last congress went in office in Jan 07, they needed the TARP 9 months later

Having an unbalance of power over the last 10 years has fucked up the economy, hopefully things will start to change starting today

SGS · 01-05-2011, 01:29 PM

That number will go up and up and up...

01-03-2011, 08:40 PM	#1
BFT3K Too lazy to set a custom title Industry Role: Join Date: Dec 2005 Location: Narnia Posts: 10,764	We Finally Broke $14,000,000,000,000! US Debt Exceeds Fourteen Trillion! Yippy! http://www.usdebtclock.org/ Last edited by BFT3K; 01-03-2011 at 08:41 PM..

01-03-2011, 10:17 PM	#5
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01-03-2011, 10:20 PM	#6
will76 Making $$$$ w/ ClickCash Industry Role: Join Date: May 2003 Location: USA Posts: 18,037	3 years from now that number will be small and our tax rate to start trying to pay it down will be huge. __________________ ICQ: 86364801 Email: will [at] innovativeassets [dot] com PROGRAM SHIT LIST - DO NOT PROMOTE (click link for gfy thread) FNCash \| Media Revenue

01-03-2011, 10:45 PM	#7
DaddyHalbucks A freakin' legend! Industry Role: Join Date: Feb 2004 Location: Las Vegas, Nevada USA Posts: 18,975	Hooray to Obama and the 150 Obamas in Congress and the thousands of Obamas in the state legislatures. We are on the precipice. __________________ Boner Money

01-03-2011, 10:51 PM	#9
fatfoo ICQ:649699063 Industry Role: Join Date: Mar 2003 Posts: 27,763	Many people argue about the makeup of the financial statements of a company. A company could be 50% equity and 50% debt. Different companies could have different ratios of assets and liabilities. Think about financial terms such as Return on Investment, Liquidity, Current Assets and more. Think about whether the company pays liabilities when they are due. Think about loans, bad debt expenses, uncollectible debts, accounts receivable and contractual agreements. Think about the interest that could be collected from debt. Think about what an ideal balance sheet, income statement and statement of retained earnings would look like. The numbers are important. Too much debt could be a disadvantage to people. People or companies or countries can consider spending less money than they earn to have little debt. __________________ Send me an email: [email protected]

01-03-2011, 08:41 PM	#2
MetaMan I AM WEB 2.0 Industry Role: Join Date: Jan 2003 Posts: 28,682	I just heard today that 100% of USA GDP is now 100% debt. LOL

01-03-2011, 09:31 PM	#3
moeloubani Confirmed User Industry Role: Join Date: Dec 2007 Location: Ontario Posts: 4,235	congrats to the winners

01-03-2011, 09:37 PM	#4
Mr Happy So Fucking Banned Industry Role: Join Date: Feb 2010 Location: LMFAO Posts: 485	yes and china is coming to take over our farms

01-03-2011, 10:47 PM	#8
Dodododa Confirmed User Industry Role: Join Date: Oct 2010 Posts: 239	Don't worry about it. When hyperinflation kicks in $14t won't seem like much. A loaf of bread will be $1,000,000 and the garbage man will be getting paid $1b a month. Seriously though, inflation is the most effective means of debt reduction. They just don't like to say it out loud. That's why you're not allowed to see minute notes from Fed meetings.

01-04-2011, 01:27 AM	#11
Chosen VIPPay.com \| AdultWebSponsors.com Industry Role: Join Date: Aug 2001 Posts: 63,151	Congrats to the americans...

01-04-2011, 08:42 AM	#13
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01-04-2011, 08:48 AM	#14
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01-04-2011, 09:15 AM	#15
djroof JuicyDevils.gr Owner Industry Role: Join Date: Jan 2004 Location: Greece Posts: 25,416	congrats....

01-04-2011, 09:30 AM	#18
Jman Too lazy to set a custom title Industry Role: Join Date: Sep 2003 Location: Canuckstikan Posts: 22,790	Better stock up on ammo's my southern friends... __________________ email: [email protected] Best AI Affiliate Program Niche Dating Program PPS! FantasyXXX.AI Teams: jean.francois.laverdiere TG: @jman1216

01-04-2011, 10:17 AM	#20
Raz Confirmed User Industry Role: Join Date: Sep 2005 Posts: 166	This is what happens when rich people don't pay taxes and are allowed to ship all the manufacturing jobs overseas where the pay is 10% of what it would be in the U.S.A. In the meantime the poor are expected to carry the country. It's called Reaganomics.

01-04-2011, 10:33 AM	#23
marketsmart HOMICIDAL TROLL KILLER Industry Role: Join Date: Dec 2004 Location: Sunnybrook Institution for the Criminally Insane Posts: 20,419	this is why you can't give black people checkbooks.... they just go crazy..... .

01-04-2011, 11:11 AM	#26
MetaMan I AM WEB 2.0 Industry Role: Join Date: Jan 2003 Posts: 28,682	Anyone comparing Democrats VS Republicans is a complete idiot.

01-05-2011, 09:53 AM	#28
BFT3K Too lazy to set a custom title Industry Role: Join Date: Dec 2005 Location: Narnia Posts: 10,764	If every man, women, and child in the US came up with around $40,000, every penny of this debt would be paid off. With population increases, plus interest, let's call it $45,000 each, over the next ten years. That's $4,500 p/year, per person, for 10 years, and the entire $14 trillion is gone. Of course, if the government cuts the military budget, cuts unnecessary corporate subsidies, pulls out of stupid wars, weens us away from oil, and just handles the money they already currently mismanage, more efficiently, that number would be much much less p/person, to the point where it might not even be noticeable. Last edited by BFT3K; 01-05-2011 at 09:58 AM..

01-05-2011, 10:30 AM	#32
djroof JuicyDevils.gr Owner Industry Role: Join Date: Jan 2004 Location: Greece Posts: 25,416	btw nice work....

01-05-2011, 01:29 PM	#34
SGS Confirmed User Industry Role: Join Date: Dec 2002 Location: Mallorca - Nottingham Posts: 5,176	That number will go up and up and up... __________________ See sig...