poorwebmaster

What the FUCK are we all going to do?

http://www.toptips.com/debtclock.html

detoxed

Where have you been your whole life?

Ic3m4nZ

Guess what no one gives a shit

wild-cat

Its fucking 28 $ per person living in the states ...

250 000 000 x 28 = 7000000000

Ironhorse

There are a few investments waiting to mature. Or did you really think we were looking for WMDs?

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doober

someone post that bush defecit gif

Houdini

It's trillion, not billion. It's $28,000 per person.

Libertine

$28?

A trillion has 12 zeros, not 9.

$7,000,000,000,000 / 290,000,000 = $24,137 per US inhabitant.

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SR

If that only was true.

Vitasoy

this didn't happen over night

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skyb0lt

Damn, and I thought the $1500 I just spent on a used car was bad. Haha and how many BILLIONS does Bush want to spend to put people in on the moon?

Well, I guess in the end they can just fake that one with a multimillion dollar movie set :>


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doober

your right, it started in 2000 i think

Chichio

real GDP: purchasing power parity - $10.45 trillion (2002 est.)*

*largest in world

real GDP growth rate: 2.4%

The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $37,600.

we'll make it, guys

does anyone that didn't take economics have any questions?

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kenny

Most people cant grasp the concept

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TaDoW

god bless that stupid fuck that's in our oval office.

i'd be willing to bet that his personal debt is far and away above the average american level of debt (which is completely retarded in itself)

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FlyingIguana

you americans need to clean up the books. the debt may not be the highest as a % of gdp, but its the sheer size thats the problem.

Phil21

I'm all for cutting the fat.

Government should be smaller, all that it should be responsible is military and a basic level of infrastructure/government. Some research, etc. as well (I would book that w/ Defense and Infrastructure).

Giving NASA a goal is great, maybe they'll actually accomplish something useful. It's CURRENT budget is near or at (too lazy to look it up) what it was when they went to the moon. The difference? The entire agency isn't behind one goal. Get them behind one goal and cut the fucking fat. Then you'll see some goddamned results.

So fuck welfare. Fuck all the social program bullshit. Cut some of the more crazy military spending (Iraq? heh.), and cut about half of the federal government employment roster. At least.

Then start paying down some of the damned debt. Gah.

Oh well, will never happen. People EXPECT shit now, and there would be riots if things got taken away.

-Phil

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Babagirls

But ya gotta love how bush gave us all that free money back a few years ago











Whens re-election so I can get his ass outta office!?!

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playa

lol, how did that site get so lucky to be connected to the US Treasury

jimboc

Hasn't it doubled since Bush came into power?

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GonePhishing

Does that also include the current war figures?

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scooby doo as scooby does

Notwithstanding the domestic debt, the problem is not the debt itself, as has been pointed out, in comparison to GNP & the size/position of the US economy, it's not unmanagable. The problem is the cost of servicing the debt. Interest charges etc. Which, by and large, the US has only limited control over. Every day that goes by and nothing is done about that debt, money is sucked out of the US economy, basically thrown away. It's a waste. It's like an extra tax where you pay it to some foreign guys. It's a lesson the UK learnt the hard way. Unfortunately it's often in politicians own interest to let these massive debts build up fucking there own people. Happens all the time all over the world. That debt will equal some pain further down the line unless it's dealt with quickly. At least, that was the result in the UK.

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poorwebmaster

what will happen if we default?

Theo

any country debt free? probably not

Manowar

Iraq ?

Probably one of the Saudi states is, they have massive amounts of oil

StuartD

I have a question... if this is supposed to explain how you get out of the debt, and it's somethign that's already in effect....

then how the hell did you ever get so far into debt in the first place?

If it can't keep you out of debt, what makes you think it'll get you out of debt once you're in it?

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Webby

scooby doo as scooby does:

Yeppo.. totally agree!

There is a financial disneyland in the US - still is right now - and this is also being pressured up by the incompetent conduct of the Admin who clearly have nada fiscal policy.

Last spring the "bad news" was wiped under the carpet at budget time when the Treasury report pointed out the real debt problem was $44.2 trill and suggested immediate tax increases to 60%. The comparative for this sum would be to say that 90% of all household assets in the US belong to other nations.

It is also projected that within very few years 40% of the total US economy will be owned by other countries - hell, it's bad enough right now!

There is a war going on, and it's nowhere near the Middle East, - the effects will ripple the world over, but mainly within the US. This is sad shit.

Now.. about that space program. Can someone tell the Sheriff he can't have any petrol for his police cruisers cos "we are going to Mars"?

Webby

TaDoW:

God speaks to the Texas Porch Trash each day and gives him guidance on how to lie, decieve and con both the US people and other nations, - I'm sure he gives his blessing at that time as well :-)

myjah

and it just keeps growing. when Clinton was in the white house, we saw a brief period where the deficit started to decrease.

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smit

the national debt really is not a problem. just to break it down in simple terms, part of the debt is attributed to how imports exceed exports. and why does the us have more imports? because the typical american can afford more expensive imported goods... a sign of how healthy our economy is versus the entire world.

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StuartD

Plus, the US can't build a decent VCR or tv worth a damn.

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Webby

smit:

Normally true, but this is far from "normal".

Have a look at consumer purchasing within the US - that is an extension of this financial fantasy when the majority of consumers are racking up credit cards, got both partners out earning a living trying to pay existing bills and, especially recently, failing badly.

There is much more to this than imports exceeding exports - tis too simplistic :-)

Manowar

they can , its just china/japan/taiwan can do it for 100 times less

Webby

Manowar:

Assuming they did and exported more, the problem is the actual reciept of funds back into the US is not happening. This is being moved into more secure currencies and ends up not being of any benefit to the US.

ControlThy

This is how they can afford those imports:

http://seattlepi.nwsource.com/money/...decline06.html

http://www.jsonline.com/bym/your/dec03/190494.asp

almighty

so you wanna blame bush for the whole fucking debt what an asshole heh he inherited quit a debt coming into office he sure the fuck cant fix it that fast

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axelcat

Thats a huge hole to crawl out of

smit

the united states has been in debt since the birth of our nation, financing various wars and assuming the debts of others. surely our debt is a lot higher than other countries, but it's nothing that will prove to be the downfall of the u.s. i guess if the debt has to increase in order for the most powerful nation in the history of the world to thrive, then so be it.

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