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(NPR)   This handy graph shows just who the US government owes money to, and why we're all screwed if the debt ceiling isn't raised   (npr.org) divider line 234
    More: Scary, U.S. government  
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16799 clicks; posted to Main » on 10 Oct 2013 at 10:55 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



234 Comments   (+0 »)
   
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2013-10-10 10:27:22 AM  
See? If we just do away with social security, a full quarter of that just goes away!
 
2013-10-10 10:29:58 AM  
I've been assured by such economic geniuses as Cruz and Yoho that nothing at all will happen

/don't worry, folks, they got this
 
2013-10-10 10:34:49 AM  
Hm....interesting that NPR left off the funding *it* gets from the government...
 
2013-10-10 10:54:25 AM  
I really hope the GOP doesn't force a default. It would be very bad.
 
2013-10-10 10:57:25 AM  
Ninjas something something Pirates ...
 
2013-10-10 10:58:45 AM  
/snark on

Why does the US Gov't owe the Federal Reserve???   Isn't that where the money is printed ???? Can''t they just print their own??

/snark off
 
2013-10-10 10:58:45 AM  
pic.photobucket.com
 
2013-10-10 10:59:29 AM  
Well looks like we owe most of it to ourselves so there is that. I really thought we would have owed China more from the way the right wingers foam at the mouth about China owning us and all.
 
2013-10-10 10:59:37 AM  
just sayin

asian times
usually insightful - (i admit this article looks abit like alex jones)
 has article about what bank runs look like
and why the weaponization of civil forces has been ongoing
 
2013-10-10 11:00:30 AM  
Weren't we supposed to balance our budgets so we could, you know, start paying this off?
 
2013-10-10 11:00:35 AM  
The question I have is, why the hell is the stockmarket RISING today?  Nothing has changed.

I'm starting to think the whole economics thing is a big game.
 
2013-10-10 11:00:40 AM  
We also owe the Gambinis from last week's college games.  I mean, who had South Florida over Cincinnati?
 
2013-10-10 11:00:59 AM  
Don't worry, though... Debt won't go up.  Just the ceiling.

/sheep
 
2013-10-10 11:01:02 AM  
Why can't I opt out of paying SS? People my age will never see a cent of that money.
 
2013-10-10 11:01:14 AM  
So you're openly and freely admitting that Obama didn't know what the hell he was doing or talking about in 2006?

And yet you elected him two years later.
 
2013-10-10 11:01:14 AM  
The US just needs to switch that debt to a credit card with a lower interest rate, and we'll be fine.
 
2013-10-10 11:02:49 AM  

Pocket Ninja: Hm....interesting that NPR left off the funding *it* gets from the government...


Nah, it's there.  One pixel in the lower right hand corner.  Go look, I'll wait.  If you press ctrl and the plus key, you might be able to zoom in enough to see it.  I could, but I don't know if your monitor is as good as mine.
 
2013-10-10 11:02:50 AM  
Shiat just got real, man.
 
2013-10-10 11:03:03 AM  
Well that makes it as clear as mud.

My daughter cought wind of the national debt on the news yesterday morning.  She was like, "wait, WE are in debt to China?!"
"Well, yeah.  Pretty badly so.  And even if it weren't for the current troubles it will only get worse."
"Why?"
"Well, just consider that the Iraq war alone has cost this country over $800 billion.  That money has to come from somewhere.  So we borrow it."

And, you know...  Even with that explanation, I don't understand it either.  Why does this gov't insist on spending so much money it doesn't have, and claiming all the while that we have a balanced budget.  News flash:  In the red is not balanced.
 
2013-10-10 11:03:24 AM  
How about not spending money we don't have? Would get rid of that pesky borrowing more and more money every year. Why are simply economic principles to friggin hard to understand for liberals? I cry when I think about your personal credit card habits.
 
2013-10-10 11:04:32 AM  
groppet: "...  China owning us and all."

Buying bonds is not "owning" like in buying a stock certificate... when you owe the bank $100,000, you worry about the mortgage payment each month... when you owe the bank $1 Trillion, the bank worries about you!

Sorry, but the Chinese are free to lend money to the Govt's of Zimbabwe, No. Korea, Cuba, Somalia and even Haiti... then they will see what debt defaulting is really like.
 
2013-10-10 11:04:41 AM  

unlikely: See? If we just do away with social security, a full quarter of that just goes away!


I recommend a combination of cat food subsidies and death panels. Who is going to back me on this?
 
2013-10-10 11:04:50 AM  

skinink: The US just needs to switch that debt to a credit card with a lower interest rate, and we'll be fine.


Or a balance transfer.  12 months no interest.

You may elect me now. Skinink can be my VP.
 
2013-10-10 11:04:55 AM  
Lets stick it to those foreigners! Cancel the payments to make up for all the foreign aid we've sent.
 
2013-10-10 11:05:30 AM  
It's nice to see that good ol' Dubya pillaged the SS trust fund to pay all the pieces of shiat monopsonists.
 
2013-10-10 11:06:18 AM  
All I see in that chart are the total amounts owed.  I don't see what the payments are.
 
2013-10-10 11:06:38 AM  

AmazinTim: Weren't we supposed to balance our budgets so we could, you know, start paying this off?


Deficits are only a concern if a Republican is President.  Otherwise, they just don't matter.
 
2013-10-10 11:06:47 AM  

groppet: I really thought we would have owed China more from the way the right wingers foam at the mouth about China owning us and all.


They are the biggest hold of the public debt and could still shake the boat quite a bit if we pissed them off.
 
2013-10-10 11:08:04 AM  

Target Builder: Lets stick it to those foreigners! Cancel the payments to make up for all the foreign aid we've sent.


we just tell them we used it to build nuclear weapons and that we'd really appreciate it if they quit asking for their money back
 
2013-10-10 11:08:21 AM  

AngryDragon: The question I have is, why the hell is the stockmarket RISING today?  Nothing has changed.

I'm starting to think the whole economics thing is a big game.


Next you'll be saying bankers and brokers make millions because of who their parents are, rather than by using their super-human mathematical skills.

You commies sure do talk funny.
 
2013-10-10 11:08:56 AM  

duffblue: Why can't I opt out of paying SS? People my age will never see a cent of that money.


Time to get elected to Congress; they are exempt from SSA taxes/ retirement system... and then even better, retire, and then claim a disability, to get your  SSI disability.Win for you! Congressional retirement system doesn't have those pesky rules.
 
2013-10-10 11:09:31 AM  
An old friend of mine had a theory that the gov't is purposely intendind to bankrupt itself and completely default on all it's loans.  That way, just like filing for bankruptcy protection privately, all those debts simply go away, and they can start fresh.

It's beggining to look more and more like that's not just some hokey conspiracy theory.
 
2013-10-10 11:09:41 AM  

Strik3r: /snark on
Why does the US Gov't owe the Federal Reserve???   Isn't that where the money is printed ???? Can''t they just print their own??
/snark off


They can't legally print their own money, but I would love to see them go ahead with that platinum coin loophole.
 
2013-10-10 11:09:51 AM  

durbnpoisn: Well that makes it as clear as mud.

My daughter cought wind of the national debt on the news yesterday morning.  She was like, "wait, WE are in debt to China?!"
"Well, yeah.  Pretty badly so.  And even if it weren't for the current troubles it will only get worse."
"Why?"
"Well, just consider that the Iraq war alone has cost this country over $800 billion.  That money has to come from somewhere.  So we borrow it."

And, you know...  Even with that explanation, I don't understand it either.  Why does this gov't insist on spending so much money it doesn't have, and claiming all the while that we have a balanced budget.  News flash:  In the red is not balanced.


Gee.  It's almost as if China also owes us a lot of money, and national debts are a complicated interwoven manner that is nothing like explaining personal finances to your daughter.
 
2013-10-10 11:09:52 AM  

pippi longstocking: It's nice to see that good ol' Dubya pillaged the SS trust fund to pay all the pieces of shiat monopsonists.


lolwat?
 
2013-10-10 11:11:14 AM  
 
2013-10-10 11:11:57 AM  

AngryDragon: The question I have is, why the hell is the stockmarket RISING today?  Nothing has changed.

I'm starting to think the whole economics thing is a big game.


GOP House leadership started calling for a 6 week plan to extend the debt ceiling without any strings attached.  So, we moved away from the brink a little bit, and banks are less spooked.

Of course, it just goes to illustrate who is teh problem in this whole mess.  If a 6 week extension turns it around this fast, imagine what an ACTUALLY NON_OBSTRUCTIONIST HOUSE GOP would be able to do...if they wanted to make the US economy better instead of intentionally tank it so they can blame whoever the next Democratic pres. candidate is in a few years.

/Cynical as hell
 
2013-10-10 11:12:25 AM  

durbnpoisn: An old friend of mine had a theory that the gov't is purposely intendind to bankrupt itself and completely default on all it's loans. That way, just like filing for bankruptcy protection privately, all those debts simply go away, and they can start fresh.


The problem is that if we 'start fresh' all the trust we have gained in the last 100 years goes out the window as well (represnted in the lost faith of the US dollar).  We will be on par with your Perus and Mongolias of the world.  That is not the place that I would like to be.
 
2013-10-10 11:13:17 AM  
Me In 2011:  Hey guys - I got a new job.  It's in the EU!  I'm leaving the US next month....
Friends & Family:  Are you crazy?!  The EU is falling apart!  PIGS!  They are bankrupt.  The Euro is dropping like a rock.  There won't even BE a Euro soon.
Friends & Family Now:  Oh my God!  The US is falling apart!  BANKRUPT!  The dollar is dropping like a rock.  We're all screwed!
 
2013-10-10 11:13:25 AM  

durbnpoisn: Why does this gov't insist on spending so much money it doesn't have, and claiming all the while that we have a balanced budget. News flash: In the red is not balanced.


So an average person who pays all the bills every month and still has mortgage debt doesn't have a balanced budget?  You seem to be incorrectly conflating debt and deficit here.
 
2013-10-10 11:13:33 AM  

Strik3r: /snark on

Why does the US Gov't owe the Federal Reserve???   Isn't that where the money is printed ???? Can''t they just print their own??

/snark off


No. Money is printed at Treasury.
 
2013-10-10 11:13:33 AM  
If you could borrow money at near 0% interest, you'd do it too.  Debt is only a problem when financing it is a problem, and Republicans are trying to beg the question by making financing the debt a problem.
 
2013-10-10 11:13:35 AM  
Too bad we cannot retroactively charge the politicians all the way back to the 30's for the debt theyve incurred on all americans.. democrat, republican and independent alike.
 
2013-10-10 11:14:25 AM  

durbnpoisn: Why does this gov't insist on spending so much money it doesn't have, and claiming all the while that we have a balanced budget.  News flash:  In the red is not balanced.


Ummm...who's claiming that the federal budget is balanced?
 
2013-10-10 11:14:37 AM  

Thunderpipes: How about not spending money we don't have? Would get rid of that pesky borrowing more and more money every year. Why are simply economic principles to friggin hard to understand for liberals? I cry when I think about your personal credit card habits.


Leveraging debt is indeed a simple economic principle.  I only took one graduate level accounting class, and even I know that it is often beneficial to have cash today to finance activities and procedures that generate a larger amount of revenue tomorrow.

I mean, what kind of rube doesn't get that!

/partisan hack
 
2013-10-10 11:14:54 AM  

durbnpoisn: Well that makes it as clear as mud.

My daughter cought wind of the national debt on the news yesterday morning.  She was like, "wait, WE are in debt to China?!"
"Well, yeah.  Pretty badly so.  And even if it weren't for the current troubles it will only get worse."
"Why?"
"Well, just consider that the Iraq war alone has cost this country over $800 billion.  That money has to come from somewhere.  So we borrow it."

And, you know...  Even with that explanation, I don't understand it either.  Why does this gov't insist on spending so much money it doesn't have, and claiming all the while that we have a balanced budget.  News flash:  In the red is not balanced.


Wait - who in the 21st century ever said we have a balanced budget?
 
2013-10-10 11:15:18 AM  

duffblue: Why can't I opt out of paying SS? People my age will never see a cent of that money.


You could become Amish. They don't pay into any fancy English insurance schemes.
 
2013-10-10 11:15:40 AM  

Pocket Ninja: Hm....interesting that NPR left off the funding *it* gets from the government...


Subtle. I like it. Bound to get a nibble or two.
 
2013-10-10 11:16:04 AM  

HeadLever: groppet: I really thought we would have owed China more from the way the right wingers foam at the mouth about China owning us and all.

They are the biggest hold of the public debt and could still shake the boat quite a bit if we pissed them off.


IIRC China also needs to buy a certain amount of US treasuries as long as it wants to keep it's currency pegged to the USD.
 
2013-10-10 11:16:44 AM  
Let's see we have a credit card with a $10,000 limit and we spend up to the limit, much of it on unneeded goods and service to BUY votes.  Then we cannot charge any more so we increase our own limit to $20,000 and spend up to that limit again.  We still do not have any self discipline, and we need those votes, so we need another $10,000, to up the limit to $30,000.  But hey we can print our own money!

If we keep spending at the rate we are, the end game is hyper inflation and economic collapse.  Hello Mad Max!

And we now have NPR being the co-dependent enabler buying coke for the addict.

Oh this is not going to end well.  Our only hope is to take some economic pain now so we will have a future later.
 
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