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How US debt risks dollar doomsday

Discussion in 'Political Discussion' started by patsfan13, May 1, 2012.

  1. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Yep no problem running trillion plus debts as far as the eye can see, no need to reform entitlements we buy our own debt and keep the paper moving...


    While at the same time we are driving away foreign investors and their capital:

    RAHN: Geithner's willful negligence - Washington Times


    Just great, why does that matter?
    Because there is a pretty linear relationship between capital and employee incomes:

    The Path to Prosperity at Steven Landsburg | The Big Questions: Tackling the Problems of Philosophy with Ideas from Mathematics, Economics, and Physics


    See the graph at the above link. This plus Obamacare, plus the tax increases coming 12/1/2013 is why unemployment is still out of control.
     
  2. chicowalker

    chicowalker Pro Bowl Player

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    Our spending is a huge problem.

    It's interesting, though, that some people have only woken up (supposedly) to the problem since Obama took office. Men like Pete Peterson -- a true fiscal conservative -- have been harping on this for at least 20 years.
     
  3. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    You know of course that spending is down under Obama..
     
  4. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Documentation of that....

    This should be a doozy.
     
  5. Why?PJ

    Why?PJ On the Game Day Roster

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    wow, just how clueless can a person be? Are you trying to win a darwin award?
     
    Last edited: May 1, 2012
  6. Ilikehappyppl

    Ilikehappyppl 2nd Team Getting Their First Start

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  7. Ilikehappyppl

    Ilikehappyppl 2nd Team Getting Their First Start

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    Its been proven that you can run a 120% debt to GPD ratio, we are at like 96-97, in the 1930 we were at 120%.

    Right wing=Chicken Littles......


    The dollar is fine, we are all going to be ok!:singing: We run a 15 trillion a year GPD....
     
  8. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Actualy the debt to GDP is >101% now. As bad as the Euro is doing the USD has been flat against the Euro for the past 5 months. Does't speak well of our economy.
     
  9. Ilikehappyppl

    Ilikehappyppl 2nd Team Getting Their First Start

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    PF13,

    101% is too high I agree perfect world it should only be around 35-40% if that but that's the bed we made and now we have to lie in it.

    I think almost everyone on this board agrees that the debt is to high and things need to be done, tax increase and cutting spending but I think most of us can agree that the sky is not falling and there is still a ways to go before we can even speculate it will.

    My whole point is take it with a grain of salt, things are never as good, or as bad, as they seem at the time, somewhere in the middle is were we are.Things need to be done but causing fear is not the answer....I for one believe American will be just fine in the long run, its going to be a rough short term though with all the fear tactics going on.
     
  10. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Spending isn't what matters, it's how much we spend vs. how much revenue we collect....

    Bottom-line....how much we over-spend is all that matters.
     
  11. PatriotsReign

    PatriotsReign Hall of Fame Poster

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    #18 Jersey

    Actually ILHP....things ARE as bad as they seem. We know for a fact that we are at this very moment experiencing the worst economic down-turn since the great depression.

    If and when we recover from this, I strongly feel this will be called a depression. I don't see the world economy or our economy "getting back" to anything close to prosperity for at least another 3-5 years. We're certainly not close now.
     
  12. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Good article on Obama outsource jobs using taxpayer dollars:

    President Obama Hypocritically Accuses Mitt Romney Of Outsourcing U.S. Jobs - Investors.com
     
  13. Titus Pullo

    Titus Pullo Banned

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    Hey 13, do your job, and hand out justice evenly... do that, and I'll let you out of the bet you're soon to lose.
     

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