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Pensacola Discussion Forum » Politics » NATIONAL DEBT passes 18 trillion

NATIONAL DEBT passes 18 trillion

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boards of FL
gatorfan
KarlRove
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KarlRove

KarlRove

Another Obama first....

http://www.zerohedge.com/news/2014-12-01/total-us-debt-rises-over-18-trillion

gatorfan



NATIONAL DEBT passes 18 trillion 4f34682765cc864fc5fa4e3036e9fa92_answer_1_xlarge

boards of FL

boards of FL

NATIONAL DEBT passes 18 trillion Tkvbt7C


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boards of FL wrote:NATIONAL DEBT passes 18 trillion Tkvbt7C

NATIONAL DEBT passes 18 trillion Images?q=tbn:ANd9GcQU_AoQNdqZoxZKepfeinijVFMo1PsnaEDTFeNpiXsH5kSlDxyw

Another couple years of Republicans holding the purse strings in the House and a Republican Congress telling the lame duck that the country can't afford it and there should a surplus in the deficit again.

That's as long as the lame duck and his liberal Dixiecrats don't demand that the national monuments and parks get closed down as they cry over the butthurt of having the credit card taken from them.

*****CHUCKLE*****

https://www.youtube.com/watch?v=MiatYS2W1gA

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2seaoat



Our GDP is 17 trillion. Our first house we bought had a 44k mortgage. We took a thirty year mortgage. Our combined income so many years ago was only 20k. It would take all of our income for two years to pay that mortgage. Yet, we put twenty percent down, and made every payment. The key is the ratio. We are getting better every day........debt is becoming less of a problem every day. Economic growth is the key. It is clear who is good at the same. Thank you President Obama.

Guest


Guest

2seaoat wrote:Our GDP is 17 trillion.   Our first house we bought had a 44k mortgage.  We took a thirty year mortgage.  Our combined income so many years ago was only 20k.   It would take all of our income for two years to pay that mortgage.  Yet, we put twenty percent down, and made every payment.  The key is the ratio.   We are getting better every day........debt is becoming less of a problem every day.   Economic growth is the key.  It is clear who is good at the same.   Thank you President Obama.

NATIONAL DEBT passes 18 trillion Images?q=tbn:ANd9GcSNgqmK5Mf0EpAUqlrTUlPs6G2Zg1p9Vu38XqadhcM3DGjNw90c

That's all fine an dandy except that the money the GDP is tracking doesn't belong to the government. It belongs to the businesses that take it in. The government only received 2.8 trillion in federal revenues in 2013 and spent 3.5 trillion. So our national debt should only be around 5.5 trillion if we go by your standards.

*****CHUCKLE*****

https://www.youtube.com/watch?v=_fNY0JuATpQ

Smile

Markle

Markle

2seaoat wrote:Our GDP is 17 trillion.   Our first house we bought had a 44k mortgage.  We took a thirty year mortgage.  Our combined income so many years ago was only 20k.   It would take all of our income for two years to pay that mortgage.  Yet, we put twenty percent down, and made every payment.  The key is the ratio.   We are getting better every day........debt is becoming less of a problem every day.   Economic growth is the key.  It is clear who is good at the same.   Thank you President Obama.

No one cares about your mortgage.

Our DEBT is to worry about.

NATIONAL DEBT passes 18 trillion AnimatedLaughterPink

KarlRove

KarlRove

2seaoat wrote:Our GDP is 17 trillion.   Our first house we bought had a 44k mortgage.  We took a thirty year mortgage.  Our combined income so many years ago was only 20k.   It would take all of our income for two years to pay that mortgage.  Yet, we put twenty percent down, and made every payment.  The key is the ratio.   We are getting better every day........debt is becoming less of a problem every day.   Economic growth is the key.  It is clear who is good at the same.   Thank you President Obama.

Horse caca. We are taking in record taxes that cannot be sustained by the population that is working and working at less of a percentage than ever before in the history of the nation.

Obama wants to add 5 million plus illegal leeches to the "free stuff trough" which will only add even more to the total.

Dems only want cuts from everything that doesn't cut their own freebie noose around the neck of the parasites sucking the country dry.

Markle

Markle

2seaoat wrote:Our GDP is 17 trillion.   Our first house we bought had a 44k mortgage.  We took a thirty year mortgage.  Our combined income so many years ago was only 20k.   It would take all of our income for two years to pay that mortgage.  Yet, we put twenty percent down, and made every payment.  The key is the ratio.   We are getting better every day........debt is becoming less of a problem every day.   Economic growth is the key.  It is clear who is good at the same.   Thank you President Obama.

Oh, I forgot to ask. I doubt you put $10,000 down on the house but let's say you did.

Did you also owe about 310,000 in other debt? Given the ratios you love, that's roughly equivalent to the unfunded liabilities we have today which too is growing...daily.

2seaoat



The GDP debt ratio has been dropping like a rock. We were a lot worse shape in 1948, and what was the largest period of economic growth in this country which followed those historical high debt ratios. You folks caused the debt with your unfunded wars and drop in the tax rate, and the President is fixing your mess. Simple truths.

KarlRove

KarlRove

2seaoat wrote:The GDP debt ratio has been dropping like a rock.   We were a lot worse shape in 1948, and what was the largest period of economic growth in this country which followed those historical high debt ratios.   You folks caused the debt with your unfunded wars and drop in the tax rate, and the President is fixing your mess.  Simple truths.

It's not 1948 and we don't have a huge generation of taxpayers (future) in diapers like we did then. Sorry, but Obama's doubling of the debt didn't come from funding any war.

2seaoat



Sorry, but Obama's doubling of the debt didn't come from funding any war.



No that was the tow truck bill to get the economy out of the ditch.......which was not driven there by President Obama. So you are blaming the tow truck driver for the accident?

Markle

Markle

2seaoat wrote:The GDP debt ratio has been dropping like a rock.   We were a lot worse shape in 1948, and what was the largest period of economic growth in this country which followed those historical high debt ratios.   You folks caused the debt with your unfunded wars and drop in the tax rate, and the President is fixing your mess.  Simple truths.

You sort of neglected to mention that we had just come out of WWII.

Sure doing a "p poor" job of fixing anything. How's that black and youth unemployment figures doing? Along with unprecedented percentages of people no longer even looking for work an happy to live off the dole.

2seaoat



You sort of neglected to mention that we had just come out of WWII.


Yep, those folks rationed, did bond drives, and increased taxes. They also kept the war on the budget. President Bush started two wars, cut taxes, and drove the economy into the ditch. We would not want to compare the sacrifices of those who engaged their brains to those who hid behind smoke and mirrors.

KarlRove

KarlRove

There was also a giant postwar recession gumby.

KarlRove

KarlRove

I'm sure you remember that
From your History classes
Back when you waked to school.

KarlRove

KarlRove

Sorry, but Obama's doubling of the debt didn't come from funding any war.



No that was the tow truck bill to get the economy out of the ditch.......which was not driven there by President Obama. So you are blaming the tow truck driver for the accident?
----
Piss poor towing company.... It's still in the ditch. Should have gotten a toeing company with some experience.

KarlRove

KarlRove

Id say the tow truck driver has
Gotten us twice as stuck.

Guest


Guest

boards of FL wrote:NATIONAL DEBT passes 18 trillion Tkvbt7C

Please explain how this chart of the DEFICIT relates to the NATIONAL DEBT that the OP posted.

boards of FL

boards of FL

colaguy wrote:
boards of FL wrote:NATIONAL DEBT passes 18 trillion Tkvbt7C

Please explain how this chart of the DEFICIT relates to the NATIONAL DEBT that the OP posted.


Running debt totals are for the most part a function of annual budgets.  Obama inherited what was probably the worst budget situation in US history combined with the worst economy since the great depression.  It wouldn't matter who stepped into the oval office in January 2009, debt totals were going to increase.  All that we can ask is that the train be slowed.  With that said, we have seen that train slow down at a rate faster than any time post WWII.  And should the trend of the last six years continue, it may actually go into reverse.

I can't believe that you can't sort that out in your mind before submitting that question.  It's like asking "Please explain how economic productivity relates to GDP!  Huh!?!? Huh?!!?"  or "Please explain how the number of unemployed people relates to the unemployment rate!?! Huh?!?!"

People who continually point out debt added since 2009 while ignoring the nearly unprecedented annual deficit reduction make an air tight case that they truly do not understand the underlying subject matter at all.


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boards of FL wrote:
colaguy wrote:
boards of FL wrote:NATIONAL DEBT passes 18 trillion Tkvbt7C

Please explain how this chart of the DEFICIT relates to the NATIONAL DEBT that the OP posted.


Running debt totals are for the most part a function of annual budgets.  

I can't believe that you can't sort that out in your mind before submitting that question.  It's like asking "Please explain how economic productivity relates to GDP!  Huh!?!? Huh?!!?"  or "Please explain how the number of unemployed people relates to the unemployment rate!?! Huh?!?!"

First, my response was rhetorical - BOF (and others) here know by now my thoughts on debt vs. deficit.

Second, the debt and deficit are not completely related.  The chart indicates decreasing deficits, yet the deficit continues to increase. That's not the relationship you're proposing.  The debt is also influenced by a lot of Congressional spending (borrowing, really) that is off-budget.  There are some threads on this site about the tax extenders that Congress uses. These are examples of spending that is not included in the official budget.

Guest


Guest

We saw the train slowing prior to the economic downturn too. It's kinda funny how things like that happen huh? The dot com crash... 9/11... housing bubble... but you're full excuses for only the dem watch. You have no credibility.

I didn't like the policies after the mess bush2 walked into either. See how that works? I didn't think so.

KarlRove

KarlRove

BOF,

It cannot be spun no matter how hard you want to do so. So what if the annual deficit comes down? we are still adding to the overall national debt and the interest is adding up exponentially. It might help if Obama ever passed a real budget once in his two terms of office.

TEOTWAWKI

TEOTWAWKI

Everyone knows it was the dot.com bubble taxes that made the Clinton years look good...it wasn't he was some master of economics....LOL.

boards of FL

boards of FL

colaguy wrote:Second, the debt and deficit are not completely related.


That is why I said, "Running debt totals are for the most part a function of annual budgets."



colaguy wrote:The chart indicates decreasing deficits, yet the deficit continues to increase.


The deficit continues to increase?  Perhaps the chart is confusing you.  Here are the underlying numbers:

2009: (1,412.7)
2010: (1,279.3)
2011: (1,259.7)
2012: (1,034.1)
2013: (636.1)
2014: (486.0)

After looking at this again, would you say those numbers are increasing or decreasing?


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