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-   -   S&P warning: Fix deficit or risk credit rating (https://gfy.com/showthread.php?t=1018993)

dyna mo 04-19-2011 11:34 AM
found this, not sure how accurate it is:::

Our national debt has topped $14 trillion.

Our personal debt ? mortgages, personal loans, car loans, and credit cards ? totals more than $16 trillion.

State debt stands at $1.16 trillion.

Local governments owe more than $1.7 trillion.

Total U.S. debt tops $55.7 trillion.

The interest on that debt just in 2011 will surpass $3.5 trillion.

IllTestYourGirls 04-19-2011 12:10 PM
Quote:
Originally Posted by nation-x (Post 18070126)
In this case net worth means nothing. We are talking about income tax.

Unless you are literally taking about the government seizing physical items to sell to pay off the debt.

IllTestYourGirls 04-19-2011 12:13 PM
Quote:
Originally Posted by dyna mo (Post 18070138)
found this, not sure how accurate it is:::

Our national debt has topped $14 trillion.

Our personal debt ? mortgages, personal loans, car loans, and credit cards ? totals more than $16 trillion.

State debt stands at $1.16 trillion.

Local governments owe more than $1.7 trillion.

Total U.S. debt tops $55.7 trillion.

The interest on that debt just in 2011 will surpass $3.5 trillion.
Quote:
Originally Posted by nation-x (Post 18070126)
Yeah we can win! Just seize all physical wealth!

56.8 trillion minus our total debt of 55.7 trillion and we have a cool 1.1 trillion left! Winning!

$5 submissions 04-19-2011 12:15 PM
Wow. Someone finally took a break from smoking the devil's glass dick (crack pipe) at the S&P to issue this "warning"? Where where they 3 years ago. Sheesh.

Too little too late anyone?

Reminds me of that Dot Bust analyst who finally downgraded dot com stocks after they have already crashed in 2001. Classic.

nation-x 04-19-2011 12:39 PM
Quote:
Originally Posted by IllTestYourGirls (Post 18070249)
Yeah we can win! Just seize all physical wealth!

56.8 trillion minus our total debt of 55.7 trillion and we have a cool 1.1 trillion left! Winning!
$56.8 Trillion is the positive number - the difference between the value of assets and liabilities. Read much?

PornoMonster 04-19-2011 12:53 PM
Listen everyone is comparing different things.
Including or excluding different taxes to make a point.
Something that makes me sick, is people who say
"This doesn't even start to pay ..........."
Who gives a fuck, it is a START, then build upon that.
Or think of it as, the little bit paid off, will NOT have interest compounded.

12clicks 04-19-2011 01:02 PM
Quote:
Originally Posted by nation-x (Post 18069471)
You know that what you are saying is really false, right? The actual number of people paying no federal tax is more like 10%. There are no deductions for payroll tax. In that sense, the picture you are painting of "paid nothing at all" is false. it is true that, in 2010, 47% of taxpayers owed no income tax... and that number isn't all poor people. Exxon and GE didn't pay any taxes either...

EVERYONE pays taxes... NOT EVERYONE owes federal income tax.
dear child, 47% of the population pay no income tax. there's nothing false about it.
dope.

12clicks 04-19-2011 01:10 PM
Quote:
Originally Posted by nation-x (Post 18069489)
Here is a study from 2009 of state and local taxes that shows tax liability by income level... you will probably be surprised at the findings.

http://www.itepnet.org/whopays3.pdf
that study shows one thing, the poor should spend less and buy homes they can afford.
neither of which they currently do and neither of which anyone forces them not to do

nation-x 04-19-2011 01:15 PM
Quote:
Originally Posted by 12clicks (Post 18070456)
that study shows one thing, the poor should spend less and buy homes they can afford.
neither of which they currently do and neither of which anyone forces them not to do
agreed... too bad George Bush didn't agree and helped over 5 million get loans with no money down between 2004 and 2007.

12clicks 04-19-2011 01:21 PM
Quote:
Originally Posted by nation-x (Post 18070483)
agreed... too bad George Bush didn't agree and helped over 5 million get loans with no money down between 2004 and 2007.
link?????

JFK 04-19-2011 01:32 PM
Fitty warnings:disgust

Barefootsies 04-20-2011 05:13 AM
Quote:
Originally Posted by JFK (Post 18070616)
Fitty warnings:disgust
Maybe Obama will now get serious about pulling out troops and cutting the military.
:2 cents:

nation-x 04-20-2011 05:30 AM
Quote:
Originally Posted by 12clicks (Post 18070513)
link?????
How about 3 links

http://www.newsweek.com/2008/10/10/a...can-dream.html

http://georgewbush-whitehouse.archiv...0040809-9.html

http://www.hud.gov/offices/cpd/affor...ams/home/addi/

onwebcam 04-20-2011 07:24 AM


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