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(The American Spectator)   Hi, I'm the National Debt. Remember me? I need to borrow some money, dude   (spectator.org) divider line 110
    More: Obvious, fiscal imbalance, Carmen Reinhart, Kenneth Rogoff, Sandy Hook Elementary School, pew poll, national debt  
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2260 clicks; posted to Politics » on 11 Aug 2013 at 1:25 PM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



110 Comments   (+0 »)
   
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2013-08-11 11:31:04 AM  
FTFA: Ted Cruz is annoyed with Congress. That shouldn't come as a surprise since, as with any decent legislator, Ted Cruz is almost always annoyed with Congress


And that's where I stopped reading
 
2013-08-11 11:39:48 AM  
Meh, if you ignore it, it will go away.
 
2013-08-11 11:56:46 AM  
Debt increases slower under D presidents than under R presidents, BUT ITS INCREASING BOOGABOOGA!
 
vpb [TotalFark]
2013-08-11 12:43:31 PM  
Republicans need to focus on increasing revenue.
 
2013-08-11 01:47:57 PM  
Is this the thread where people don't understand international macroeconomics and pretend the national debt is just like household debt?
 
2013-08-11 01:48:06 PM  

vpb: Republicans need to focus on increasing revenue.


This. Cutting some spending is fine; there's plenty of waste in various areas (although much of that waste is in the Sacred Cow of defense spending), but our revenue problem is much bigger.

Of course ,that would mean raising taxes on the wealthy, making sure they actually PAY those taxes, and enacting regulations to make sure they send fewer jobs overseas, so it won't happen as long as Republicans have any power whatsoever.
 
2013-08-11 01:50:06 PM  
Laser like focus on JOBS!
 
2013-08-11 01:51:41 PM  

DarwiOdrade: Debt increases slower under D presidents than under R presidents, BUT ITS INCREASING BOOGABOOGA!


The way it works in GOP fantasyland is austerity under Democrats so the government has money and the public is mad and then wild spending under Republicans to get rid of the surplus and give out goodies to the electorate. Problem is they want to be in control all the time and do the wild spending without going through the whole declining deficit or surplus phase since that requires Democrats to be in charge.

/Bet some fun trolls come out from under the bridge for this one.
 
2013-08-11 01:53:02 PM  

Peter von Nostrand: FTFA: Ted Cruz is annoyed with Congress. That shouldn't come as a surprise since, as with any decent legislator, Ted Cruz is almost always annoyed with Congress


And that's where I stopped reading


Awww, you should've keep going.

FTFA: Mitt Romney was never an effective advocate for debt reduction, or deficit reduction, or spending cuts (or any issue, or cause, or thing, for that matter)
 
2013-08-11 01:57:01 PM  

Dalrint: Is this the thread where people don't understand international macroeconomics and pretend the national debt is just like household debt?


Also the thread where people don't know the difference between total debt and publicly-held debt.
 
2013-08-11 02:00:29 PM  
Ted Cruz is annoyed with Congress. That shouldn't come as a surprise since, as with any decent legislator, Ted Cruz is almost always annoyed with Congress.

Annnnd that's where I stopped reading.
 
2013-08-11 02:00:45 PM  
See, if the debt was like a household.......
 
2013-08-11 02:00:57 PM  

DarwiOdrade: Dalrint: Is this the thread where people don't understand international macroeconomics and pretend the national debt is just like household debt?

Also the thread where people don't know the difference between total debt and publicly-held debt.


Also the thread where people don't know the difference between debt denominated in nominal dollars versus debt as a percentage of GDP.

"Obama presided over the biggest increase in the national debt in history!" always gives me a laugh. And an urge to piss on Reagan's grave.
 
2013-08-11 02:01:14 PM  

Peter von Nostrand: FTFA: Ted Cruz is annoyed with Congress. That shouldn't come as a surprise since, as with any decent legislator, Ted Cruz is almost always annoyed with Congress


And that's where I stopped reading


This
 
2013-08-11 02:02:02 PM  

DarwiOdrade: Dalrint: Is this the thread where people don't understand international macroeconomics and pretend the national debt is just like household debt?

Also the thread where people don't know the difference between total debt and publicly-held debt.


And the thread where we point out that no one on the entire planet could possibly call us on any of our debt, given our ability to print as much money as we need and/or blow the claimant of the debt to kingdom come.
 
2013-08-11 02:02:48 PM  
"Meanwhile the sequester, the most microscopic dent in federal spending imaginable, yielded months of infantile histrionics and predictions of Old Testament calamity, absolutely none of which have come to pass."

We are so farked.
 
2013-08-11 02:03:10 PM  

Dalrint: Is this the thread where people don't understand international macroeconomics and pretend the national debt is just like household debt?


No, this is the thread where people pretend that the US national debt is unlike any other debt including the national debts of other countries because America.
 
2013-08-11 02:03:12 PM  

WaitWhatWhy: no one on the entire planet could possibly call us on any of our debt, given our ability to print as much money as we need



Then what do we need taxes for?
 
2013-08-11 02:03:18 PM  

bwilson27: See, if the debt was like a household.......


If China owned your house...
 
2013-08-11 02:03:25 PM  
Funny how the Tea Party types who think they are more "American" than anyone else would love to have a Canadian run their country.

Seriously America, if you want to follow a Canadan, why don't you pick someone who isn't the biggest arsehole we've ever produced?
 
2013-08-11 02:04:09 PM  

Dalrint: Is this the thread where people don't understand international macroeconomics and pretend the national debt is just like household debt?


Probably.
 
2013-08-11 02:04:18 PM  

Mr. Eugenides: Dalrint: Is this the thread where people don't understand international macroeconomics and pretend the national debt is just like household debt?

No, this is the thread where people pretend that the US national debt is unlike any other debt including the national debts of other countries because America sekrit muslin blah socilist

 
2013-08-11 02:06:01 PM  
I see that since the deficit is no longer a problem, that we've switched back to the 'omg national debt' canard.

I can't wait to see how many people post about how terrible the national debt is.  lol
 
2013-08-11 02:06:54 PM  
Too bad the Republican vs. Democrat paradigm doesn't create energy as a by product. We could heat our homes in the winter.
 
2013-08-11 02:09:52 PM  

Infernalist: since the deficit is no longer a problem, that we've switched back to the 'omg national debt' canard.



The national debt has grown by a TRILLION dollars, every year, for the past 5 years.  If 'the deficit' isn't causing that, then what is?  Something is causing it.  I wonder what it could be?
 
2013-08-11 02:10:59 PM  

WippitGuud: Peter von Nostrand: FTFA: Ted Cruz is annoyed with Congress. That shouldn't come as a surprise since, as with any decent legislator, Ted Cruz is almost always annoyed with Congress


And that's where I stopped reading

Awww, you should've keep going.

FTFA: Mitt Romney was never an effective advocate for debt reduction, or deficit reduction, or spending cuts (or any issue, or cause, or thing, for that matter)


Anyone that calls Cruz a decent legislator is not to be taken seriously. I'm in awe of your bravery for reading through it, though
 
2013-08-11 02:11:32 PM  
Guys, all we have to do give the rich even more tax cuts and repeal Obamacare and we'll all be showered in gold
 
2013-08-11 02:11:54 PM  
The deficit is shrinking.

"The budget deficit as a share of gross domestic product fell from 10.4 percent in 2009 to 6.7 percent in 2012, and it's on track to get down to 3.7 percent in 2015, according to the median estimate of economists surveyed by Bloomberg."
Businessweek
 
2013-08-11 02:13:57 PM  

cato113: Guys, all we have to do give the rich even more tax cuts and repeal Obamacare and we'll all be showered in gold


And defund PBS, Planned Parenthood and ACORN, don't forget that.
 
2013-08-11 02:14:58 PM  

Neighborhood Watch: Infernalist: since the deficit is no longer a problem, that we've switched back to the 'omg national debt' canard.


The national debt has grown by a TRILLION dollars, every year, for the past 5 years.  If 'the deficit' isn't causing that, then what is?  Something is causing it.  I wonder what it could be?


OMG IT'S INCREASING.

Relax, sunshine, no one's going to cancel the US government's Visa card.  They're not going to foreclose on the White House.

Short version: It only becomes an issue if we get to the point where the people who hold that debt no longer realistically believe that the US can pay them back.  Since that would take something along the lines of World War III or a global catastrophe on the scale of an Armageddon-sized rock hitting the planet, anyone freaking out about the debt is doing so out of ignorance or with political reasons in mind.
 
2013-08-11 02:16:45 PM  

bwilson27: See, if the debt was like a household.......


We just need to stop spending money on the single 4pack of washers we bought to fix that table leg once. Then the household debt problem will be solved forever.
 
2013-08-11 02:20:15 PM  
Infernalist:  It only becomes an issue if we get to the point where the people who hold that debt no longer realistically believe that the US can pay them back.


That's a mathematical certainty.

At present, the interest payments on the National Debt consume something like 6% of the annual Federal budget.  As the debt increases, that percentage increases.  What happens when it gets to 10%, 15% or 20%?

How high do Fark LiberalsTM think that percentage can go?


/btw, the money that the federal government has already borrowed can never be repaid
 
2013-08-11 02:21:37 PM  
http://www.usdebtclock.org/

Looks like they done some changes since I last looked at it.
 
2013-08-11 02:25:12 PM  

Neighborhood Watch: Infernalist:  It only becomes an issue if we get to the point where the people who hold that debt no longer realistically believe that the US can pay them back.


That's a mathematical certainty.

At present, the interest payments on the National Debt consume something like 6% of the annual Federal budget.  As the debt increases, that percentage increases.  What happens when it gets to 10%, 15% or 20%?

How high do Fark LiberalsTM think that percentage can go?


/btw, the money that the federal government has already borrowed can never be repaid


I'd probably take you a tad bit more seriously if you didn't try provoking with a stupid catchphrase that isn't even original.
In any case, you would completely wrong about it being a 'mathematical certainty.'  And reality bears that out.  The only time in recent history where our credit standing was threatened was when the GOP tried to force the government to renege on its debts by refusing to raise the debt ceiling.  And completely setting 'that' aside, the US is the center of the global economy and without our economy chugging along, the whole thing falls apart.

In short, we're...lol....we're 'too big to fail' when it comes to our economy.  And I'm sure it was designed that way sometime in the past.

But, you can continue to fret and fuss over things that you either plainly don't understand or, more likely, you can pretend it's a threat even though you know better.  Either way, you look like a retard for doing so, but it's Sunday and I'm bored.
 
2013-08-11 02:27:01 PM  

Neighborhood Watch: Infernalist:  It only becomes an issue if we get to the point where the people who hold that debt no longer realistically believe that the US can pay them back.


That's a mathematical certainty.

At present, the interest payments on the National Debt consume something like 6% of the annual Federal budget.  As the debt increases, that percentage increases.  What happens when it gets to 10%, 15% or 20%?

How high do

Fark LiberalsTM think that percentage can go?


/btw, the money that the federal government has already borrowed can never be repaid


You try so hard. It's almost adorable. Almost
 
2013-08-11 02:32:34 PM  
Infernalist:

Short version: It only becomes an issue if we get to the point where the people who hold that debt no longer realistically believe that the US can pay them back.

We already know the Republicans are willing to exploit that to get what they want.  How many more times can we hold the debt limit hostage before investors say "fark it"?
 
2013-08-11 02:33:48 PM  

Infernalist: we're 'too big to fail' when it comes to our economy.  And I'm sure it was designed that way sometime in the past.



Shakes head and laughs...
 
2013-08-11 02:34:51 PM  

Neighborhood Watch: That's a mathematical certainty.


gamersagainstbigotry.org
 
2013-08-11 02:37:42 PM  

DarwiOdrade: Dalrint: Is this the thread where people don't understand international macroeconomics and pretend the national debt is just like household debt?

Also the thread where people don't know the difference between total debt and publicly-held debt.


Don't forget where people use "debt" and "deficit" interchangeably.
 
2013-08-11 02:40:07 PM  
NW has honed his trolling skills pretty well.
 
2013-08-11 02:44:01 PM  

Neighborhood Watch: WaitWhatWhy: no one on the entire planet could possibly call us on any of our debt, given our ability to print as much money as we need


Then what do we need taxes for?


Because repaying our debt via normal means creates a more compliant international environment. However, the fact that taking normal steps to repay our debts is more optimal doesn't negate the fact that we could, at will, repay or cancel all our debts.
 
2013-08-11 02:45:29 PM  

WaitWhatWhy: we could, at will, repay or cancel all our debts.



Laughing.
 
2013-08-11 02:46:47 PM  

Peter von Nostrand: FTFA: Ted Cruz is annoyed with Congress. That shouldn't come as a surprise since, as with any decent legislator, Ted Cruz is almost always annoyed with Congress


And that's where I stopped reading


Yeah, those words have a lot of syllables. It must have been exhausting.
 
2013-08-11 02:51:41 PM  

Neighborhood Watch: WaitWhatWhy: we could, at will, repay or cancel all our debts.


Laughing.


What are other countries going to do? Demand it? Strongly worded letters?

Come on, you can do better!
 
2013-08-11 02:52:10 PM  
Big numbers with lots of zeroes. LOTS OF THEM! OOOGABOOGA
 
2013-08-11 03:02:06 PM  
Pundits have poor understanding of financial markets. Ric Romero with the story at 5.
 
2013-08-11 03:07:49 PM  

Tripp Johnston Private Eye: Big numbers with lots of zeroes. LOTS OF THEM! OOOGABOOGA


More zeros equal scarier. I am 100.000000000000000000000000000000000000000000000000000000000000000000 0000000000000000000000000000000000000000000000000000000000000000000000 00000000000000% certain of that
 
2013-08-11 03:08:27 PM  
The GOP keeps debt down during Dem administrations by threatening to burn the country down if the Dems spend money. With no regard for consequences.

If you want to keep the debt down generally, you could have the Dems do the same thing to GOP administrations. Scorched-Earth defunding of the military if you think they started bad war.

Imagine if, during Bush's Iraq war, the Dems had cut military funding because they thought it was insanely stupid spending. Threatened to stop our war machine in its tracks. Just like the GOP tries to cut SS and unemployment during a massive recession.

Imagine $3 trillion dollars back in our pockets.
 
2013-08-11 03:17:32 PM  
Whatever the smart neocon jewish men say, I'm in complete agreement because they are so smart.
 
2013-08-11 03:23:46 PM  

HotIgneous Intruder: Whatever the smart neocon jewish men say, I'm in complete agreement because they are so smart.


They have our best interests at heart so you take back your sarcasm.
Anyway, it looks like Yellen or Summers will be the next Fed chairman and those people aren't Jewish.
 
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