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Mind Boggling debt figures

Discussion in 'Political Discussion' started by Real World, Nov 8, 2007.

  1. Real World

    Real World Moderator Staff Member

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    This is so amazingly pathetic I don't know where to begin. The last line is so telling of how expansive government has become. When I first started posting here I put up a chart that showed how government has increased in every year since the 50's. GW, that fiscal conservative he is, has increased government like no lunatic could ever dream. He's truly pathetic. We've now hit $9 Trillion and counting. Oh, and just wait till all the illegals get Amnesty. It's only going to get worse. When will the retards in this country realize that the size, and reach of government, combined with our assinine policies of being the globes police, financier, and a welfare mama are going to lead us to ruin? It's sad to see how far the GOP has strayed from it's core beliefs. This country is so fu%$*@.


    AP
    National Debt at Record $9 Trillion

    Wednesday November 7, 5:59 pm ET
    By Martin Crutsinger, AP Economics Writer

    National Debt Hits $9 Trillion for the First Time

    WASHINGTON (AP) -- The national debt has hit $9 trillion for the first time.
    The Treasury Department, which issues a daily accounting of the debt, said Wednesday that the debt subject to limit was at $9 trillion on Tuesday. It was $8.996 trillion on Monday.

    Last month, Congress passed and President Bush signed into law an increase in the government's borrowing ceiling to $9.815 trillion. It was the fifth debt limit increase since Bush took office in January 2001. Those increases have totaled $3.865 trillion.

    The budget deficit for the 2007 budget year, which ended Sept. 30, was $162.8 billion, the lowest in five years.In 2004, the deficit was $413 billion, a record in dollar terms.

    It took the country from George Washington until Ronald Reagan to reach the first $1 trillion in debt.


    http://biz.yahoo.com/ap/071107/national_debt.html?.v=1
     
  2. maverick4

    maverick4 Banned

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    Every person in this country owes over $25,000 including infants, if we broke down our national debt by person.

    It's ridiculous, and a reason why the dollar has and will continue to plummet. World faith in the US dollar is going to fall like a house of cards within the next 5 years.

    Of course, many idiot economists will try to claim it's GOOD that our currency will be worth crap in the future, so that our overall debt value goes down and our exports increase.
     
    Last edited: Nov 8, 2007
  3. Real World

    Real World Moderator Staff Member

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    Well, there are benefits to a lower dollar. However, there is a distinct difference in a low dollar, and a collapsing dollar. Utimately it is our debt that drives the dollars value, and like you've said mav, that ain't improving anytime soon.
     
  4. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Instead of paying our bills now we are passing them on to our children and grandchildren with interest.. they are mind boggling.
     
  5. PressCoverage

    PressCoverage Banned

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    heck, let's just parrot the Reich's darling comedian, Dennis Miller, regarding our national debt:

    "Do we actually owe somebody that money? If so, f*ck 'em - don't pay 'em!" - from his HBO special, "All-In"
     
    Last edited: Nov 8, 2007
  6. scout

    scout Veteran Starter w/Big Long Term Deal

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    #15 Jersey

    Hopefully, the next administration and the ones following will be fiscally diligent. Bush and company was callous and they knew they would create deficits. That is not an accusation, it is well documented in case anyone wants to dispute that. In the words of the acting President, "it worked for Reagan". The inner-circle did not listen to the Secretary of Treasury, what did he know, right? No, this group did not need input from anyone. Pure genius.
     
  7. Real World

    Real World Moderator Staff Member

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    Here's a newsflash though GAJ, we haven't paid our bills, and have been passing them on, for decades. That $9 trillion didn't happen overnight. It's gotten incredibly worse in the last 7 years, that's for damn sure though.
     
  8. Real World

    Real World Moderator Staff Member

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    You know it's one thing to spend money to spur growth. When you have the issues we had in 2000-2001, you can understand some form of stimulus. The thing is, if you're going to spend some cahs for that reason, you need to tighten the wallet once the economy gets going, so as to pay for what you previously spent. This drunken sailor in office never did that, and instead, had the brains to spend more. All he's done is speed up the inevitable, but my goodness he's in no way remotely close to fiscally compitent, nor fiscally conservative. :mad:
     
  9. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    I'm as anti deficit as the next guy but I'm not sure how it's going to happen. Everyone wants more money for veterans, more money for seniors, more money for children, more money for schools. And they want "the rich" to pay for it.
     
  10. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    Here is a quick fix, stop spending so much money, the bloated federal gov't exists for one reason to perpetuate itself and its pet programs.. here are three things that would stop a boat load of spending:

    1. Get out of Iraq
    2. Eliminate the Dept of Ed, return the responsibility of this Dept to the States
    3. Completely change the tax structure to a national sales tax, flat tax or some similar program that may not increase revenues, but would certainly decrease overhead.
    4. Here is the most controversial, yet so simple, tell the Army, Navy and Air Force to work together on R & D for new weapons.. tell them to combine contracts, thus bringing in control the military industrial complex that Eisenhower warned us about in the 50's.
     
  11. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    How to agree on what to stop is the problem. You have your list, I have mine (canceling the prescription drug benefit of medicare, means testing social security, etc). Agreeing is the tough part.

    BTW, a decent number of new weapons are shared, all the "J"s (JSOW, JDAM, JSSM, JSF, etc) - the "J" stands for Joint.
     
  12. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

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    #24 Jersey

    One thing we have to do is spend money on what the bill says. Fox Business Channel was just talking about the Defense Appropriations Bill containing $20M for Murtha for his district on some drug prevention thing that neither the DoD nor DoJ wants. It also contains $3M for using Golf to help kids grow up without getting in trouble - in the DoD budget. I realize these are relatively tiny amounts but this nickel and diming stuff adds up. It's crap and it's the problem with these "professional politicians".
     
  13. Real World

    Real World Moderator Staff Member

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    I very much love all of those GAJ, and would like to add a couple of my own:

    5. Seal the border, and enforce the laws regarding illegal immigration, thus removing a significant drain on local, state, and federal government budgets.
    6. Slash entitlement programs. Make welfare permanant only for the disabled & impaired. Any able bodied person would recieve aid for a limited time period. That period would include job training so as to provide the recipient with a means to provide for his/herself thereafter. Once the time limit has expired, or the training w/a job is complete, that person would no longer recieve public assistance.
    7. Slash both the amount of foreign aid given to nations, and reduce the amount of overseas bases we have.
    8. Eliminiate the anchor baby law.
    9. Tort reform.


    Just to name a few.
     
  14. STFarmy

    STFarmy In the Starting Line-Up

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    You know, Ron Paul is the only candidate that I see capable of doing some of these things. While I don't think it's practical to pull out of the middle east completely like he thinks, I love some of his domestic ideas. It would be nice if the next president changed the way things have been done for the last 20 or so years.
     
  15. Real World

    Real World Moderator Staff Member

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    Some of that stuff is so disgusting & upsetting. Sadly though, people have become immune to that type of waste because of the monopoly numbers the government throws around. When you're talking $60 billion here, $300 billion there, half a trillion there, people lose interest over $20 million for Murtha, $3 million for golf, or $75 million for spinach farmers in an Iraq war bill.
     
  16. Real World

    Real World Moderator Staff Member

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    He's got no chance unfortunatley. The next president will be more of the same. The only person who I think has a chance at winning, and would make some very needed fiscal changes, is Thompson. His changes wouldn't amount to what a Paul or Kucinich would do, but he's the only person who's been outspoken about entitlements, and the cost of government. The rest would simply cut in one place to throw it at another. Thompson has no chance either though. He's asleep at the wheel.
     
  17. STFarmy

    STFarmy In the Starting Line-Up

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    I actually think that Giuliani MIGHT make fiscal cuts if necessary. I know he's not necessarily conservative, but he is also the do-what-is-necessary type, and if faced with a financial crisis he might rise to the occasion.
     
  18. Real World

    Real World Moderator Staff Member

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    He would be, maybe along with McCain, in that next tier. Like I said, Giuliani is results oriented, and his fiscal record in NYC is pretty good. You're right in saying that he might make a difference. He might be like Slick Willy in that sense. He'd make some good, short term, fiscally sane policies. No one has really tackled the long term issues we face though, and I'm doubtful anyone who's elected will.
     
  19. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    I don't trust guiliani, his lies about where he was after 9-11 made me think what a fool & panderer he indeed is.. he is also a huge Yankees fan.. so that says it all.
     
  20. Real World

    Real World Moderator Staff Member

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    He probably will. If he's does anything like he did in NYC, then he will. He's fiscally sane, to fiscally conservative. I really don't have an issue with his record in that department. That's actually what I like about him. My issues with him deal more with his personal skeletons, and what I percieve to be an appologetic view toward illegal immigration.
     

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