Welcome to PatsFans.com

MOUNTAIN OF DEBT: Rising debt may be next crisis

Discussion in 'Political Discussion' started by Real World, Jul 3, 2009.

  1. Real World

    Real World Moderator Staff Member

    Joined:
    Aug 15, 2006
    Messages:
    27,435
    Likes Received:
    320
    Ratings:
    +894 / 7 / -3

    Ouch.

    July 03, 2009

    MOUNTAIN OF DEBT: Rising debt may be next crisis

    Tom Raum




    .

    RealClearPolitics - Politics - Jul 03, 2009 - MOUNTAIN OF DEBT: Rising debt may be next crisis
     
  2. ljuneau

    ljuneau Rotational Player and Threatening Starter's Job

    Joined:
    Sep 1, 2007
    Messages:
    1,286
    Likes Received:
    3
    Ratings:
    +3 / 0 / -0

    And I believe this year's $1.85 trillion deficit was estimating a 4% growth in the 4th quarter (may be wrong). We'll be lucky to have positive growth in the last quarter.
     
  3. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

    Joined:
    Sep 13, 2004
    Messages:
    39,615
    Likes Received:
    753
    Ratings:
    +1,972 / 41 / -31

    #24 Jersey

    Now we know why Sarah Palin is stepping down.

    We are selling Alaska to China to wipe out our debt.
     
  4. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

    Joined:
    Jan 4, 2005
    Messages:
    25,563
    Likes Received:
    164
    Ratings:
    +445 / 11 / -14



    You are correct, they were actually predicting 4% Q4 growth, and Q3 growth, unemployment peaking at 8%, with those numbers being a wet dream the deficit numbers will be far worse.


    BTW the spending is already starting to kill any attempt at a recovery. A lot of people were looking to refi at low interest rates, with interest rates going up to cover spending a lot of those loans will never be completed.

    In addition to that with unemployment numbers 2.5 million short of what BO had predicted (and # of hrs worked way down) revenues will be lower than expected, of yeah the rising interest rates will make financing the national debt much more exepnsive.

    Wait till the tax increases needed for the natioanlized health plan and increase energy cost from cap and trade hit the economy. We are screwed.


    A good article on interest rates:

    http://theeprovocateur.blogspot.com/2009/07/us-treasury-bond-can-bring-obama-down.html

     
    Last edited: Jul 3, 2009
  5. State

    State In the Starting Line-Up

    Joined:
    Jan 10, 2005
    Messages:
    2,545
    Likes Received:
    5
    Ratings:
    +22 / 1 / -8

    #70 Jersey

    US DEBT IS AT $250,000 FOR EVERY SINGLE PERSON IN THE COUNTRY - New York Post

    Maybe we should import India.
     
  6. NEPatriot

    NEPatriot Banned

    Joined:
    Dec 14, 2004
    Messages:
    7,836
    Likes Received:
    11
    Ratings:
    +11 / 0 / -0

    Are you sure? I thought that she did it because she refused to accept Obama bail out.
     
  7. State

    State In the Starting Line-Up

    Joined:
    Jan 10, 2005
    Messages:
    2,545
    Likes Received:
    5
    Ratings:
    +22 / 1 / -8

    #70 Jersey

  8. Real World

    Real World Moderator Staff Member

    Joined:
    Aug 15, 2006
    Messages:
    27,435
    Likes Received:
    320
    Ratings:
    +894 / 7 / -3

    What's funny, and people in here won't remember it, but I said well before the election ever happened, that the tragedy of GW's spending, would be that the next guy (or gal), regardless of who it was, would take GW's bloated budget, and simply use it as a starting point.

    Meet the new people, same as the old people.
     
  9. Fogbuster

    Fogbuster Pro Bowl Player

    Joined:
    Aug 10, 2005
    Messages:
    13,674
    Likes Received:
    10
    Ratings:
    +10 / 0 / -0


    That's not really too funny. Russia "sold" Alaska to the U.S. ~150 years ago because THEY were broke from fighting in too many wars.

    We need to bring our troops home. Now.


    //
     
  10. STFarmy

    STFarmy In the Starting Line-Up

    Joined:
    Sep 14, 2004
    Messages:
    2,677
    Likes Received:
    6
    Ratings:
    +6 / 0 / -0

    I remember it, because I thought the same thing (shocker). Bush set a precedent for out-of-control spending, and now it's just going to continue. Some "conservative" he was.
     
    Last edited: Jul 5, 2009
  11. State

    State In the Starting Line-Up

    Joined:
    Jan 10, 2005
    Messages:
    2,545
    Likes Received:
    5
    Ratings:
    +22 / 1 / -8

    #70 Jersey

    I agree wholeheartedly, RW. You sound like an intelligent person whose job probably involves a lot of responsibility. Your brains and good judgments bespeak much. Sorry to sound Shakespearian, it's one of the things I do, teaching him.

    Here's a perspective I find valuable: Obama loses 2.19 million jobs, 9.4% unemployment, worst in 25 years Wintery Knight Blog
     
  12. maverick4

    maverick4 Banned

    Joined:
    Jan 17, 2005
    Messages:
    7,662
    Likes Received:
    17
    Ratings:
    +17 / 0 / -0

    Federal and individual debt is already a crisis.
    Each American citizen is currently indirectly on the hook for over 30K in debt just from governmental actions.
    America is no longer the driver of the global economy. All the producing nations are de-linking and selling more to others or domestically.
     
  13. BelichickFan

    BelichickFan B.O. = Fugazi PatsFans.com Supporter

    Joined:
    Sep 13, 2004
    Messages:
    31,922
    Likes Received:
    286
    Ratings:
    +778 / 17 / -23

    #24 Jersey

    So let's spend $1.5T on healthcare and pass the Lightbulb Tax; that'll fix the problem.

    :rolleyes:
     
  14. Real World

    Real World Moderator Staff Member

    Joined:
    Aug 15, 2006
    Messages:
    27,435
    Likes Received:
    320
    Ratings:
    +894 / 7 / -3

  15. alvinnf

    alvinnf In the Starting Line-Up

    Joined:
    Mar 13, 2008
    Messages:
    3,333
    Likes Received:
    5
    Ratings:
    +15 / 2 / -0

    What are the implications or burdens of the debt to China. In other words, what portion of our annual budget is just paying interest to China?
     
  16. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

    Joined:
    Jan 4, 2005
    Messages:
    25,563
    Likes Received:
    164
    Ratings:
    +445 / 11 / -14


    The Chinese are holding a lot of gov debt. They are concerned about us monitizing the debt and destroying the value of the $$$ they are holding.
     
  17. alvinnf

    alvinnf In the Starting Line-Up

    Joined:
    Mar 13, 2008
    Messages:
    3,333
    Likes Received:
    5
    Ratings:
    +15 / 2 / -0

    I had heard the annual figure somewhere, but forgot it. It was staggering. Just the interest alone is a staggering figure.
     
  18. alvinnf

    alvinnf In the Starting Line-Up

    Joined:
    Mar 13, 2008
    Messages:
    3,333
    Likes Received:
    5
    Ratings:
    +15 / 2 / -0

  19. State

    State In the Starting Line-Up

    Joined:
    Jan 10, 2005
    Messages:
    2,545
    Likes Received:
    5
    Ratings:
    +22 / 1 / -8

    #70 Jersey

  20. State

    State In the Starting Line-Up

    Joined:
    Jan 10, 2005
    Messages:
    2,545
    Likes Received:
    5
    Ratings:
    +22 / 1 / -8

    #70 Jersey

Share This Page

unset ($sidebar_block_show); ?>