Total Posts:14|Showing Posts:1-14
Jump to topic:

US Government debt

darkkermit
Posts: 11,204
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 1:03:58 AM
Posted: 5 years ago
So, its no secret that the US government has a very high debt, and it continuously deficit spends. This pattern cannot go on forever.
It will either default, print money or cut programs and taxes will increase. Defaulting would make individuals and countries less likely to buy bonds, and would also cause bond holders to lose money, causing great economic problems. Printing money would cause massive inflation, essentially making money worthless. Cutting programs seems like the best of the solutions and increasing taxes, however this would still weaken others buying powers and many would be dissatisfied with cut programs (although many government programs are bad). This is especially true for elderly people expected medicare and social security benefits in the future.

So, does this mean that an economic depression will soon come of a magnitude greater then the Great Depression? How will people react to these huge changes?
Open borders debate:
http://www.debate.org...
darkkermit
Posts: 11,204
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 1:15:19 AM
Posted: 5 years ago
At 3/4/2011 1:11:14 AM, FREEDO wrote:
Sell the south.

I don't think the government has trillions and trillions of dollars worth of public land.
Open borders debate:
http://www.debate.org...
Thaddeus
Posts: 6,985
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 5:17:22 AM
Posted: 5 years ago
At 3/4/2011 1:15:19 AM, darkkermit wrote:
At 3/4/2011 1:11:14 AM, FREEDO wrote:
Sell the south.

I don't think the government has trillions and trillions of dollars worth of public land.

Seize it by claiming that the south are terrorists. The rest of the world would probably buy into that explanation.
darkkermit
Posts: 11,204
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 7:10:03 AM
Posted: 5 years ago
At 3/4/2011 5:17:22 AM, Thaddeus wrote:
At 3/4/2011 1:15:19 AM, darkkermit wrote:
At 3/4/2011 1:11:14 AM, FREEDO wrote:
Sell the south.

I don't think the government has trillions and trillions of dollars worth of public land.

Seize it by claiming that the south are terrorists. The rest of the world would probably buy into that explanation.

Why not just attack the middle east, claim their terrorist, and sell the land and natural resources to businesses to pay off the debt rather than have the US government steal from its own citizens.
Open borders debate:
http://www.debate.org...
Thaddeus
Posts: 6,985
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 8:10:06 AM
Posted: 5 years ago
At 3/4/2011 7:10:03 AM, darkkermit wrote:
At 3/4/2011 5:17:22 AM, Thaddeus wrote:
At 3/4/2011 1:15:19 AM, darkkermit wrote:
At 3/4/2011 1:11:14 AM, FREEDO wrote:
Sell the south.

I don't think the government has trillions and trillions of dollars worth of public land.

Seize it by claiming that the south are terrorists. The rest of the world would probably buy into that explanation.

Why not just attack the middle east, claim their terrorist, and sell the land and natural resources to businesses to pay off the debt rather than have the US government steal from its own citizens.

1) More people like the middle east than the south
2) South is probably greater money for effort
3) Claiming the whole of the south are terrorists is far more plausible than the whole of the middle east
4) Oh teh noes! A government stealing from it citizens?! When has that ever happened?
Ore_Ele
Posts: 25,980
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 11:31:52 AM
Posted: 5 years ago
At 3/4/2011 1:11:14 AM, FREEDO wrote:
Sell the south.

lol, to who? We could sell Texas back to Mexico.
"Wanting Red Rhino Pill to have gender"
Ore_Ele
Posts: 25,980
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 11:37:42 AM
Posted: 5 years ago
At 3/4/2011 1:03:58 AM, darkkermit wrote:
So, its no secret that the US government has a very high debt, and it continuously deficit spends. This pattern cannot go on forever.

What?! Since when!?

It will either default, print money or cut programs and taxes will increase. Defaulting would make individuals and countries less likely to buy bonds, and would also cause bond holders to lose money, causing great economic problems. Printing money would cause massive inflation, essentially making money worthless. Cutting programs seems like the best of the solutions and increasing taxes, however this would still weaken others buying powers and many would be dissatisfied with cut programs (although many government programs are bad). This is especially true for elderly people expected medicare and social security benefits in the future.

So, does this mean that an economic depression will soon come of a magnitude greater then the Great Depression? How will people react to these huge changes?

Likely there is going to be increased taxes and decreased services. Taxes will likely go up, to previous levels, while services will drop. This will likely have to have a large nationalist movement (or patriotic movement if you want to give it a more positive light), meaning that there is going to need to be a shift in mind set that we all need to make sacrifices to get out of this and take pride in those sacrifices.
"Wanting Red Rhino Pill to have gender"
innomen
Posts: 10,052
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 11:43:29 AM
Posted: 5 years ago
At 3/4/2011 11:31:52 AM, OreEle wrote:
At 3/4/2011 1:11:14 AM, FREEDO wrote:
Sell the south.

lol, to who? We could sell Texas back to Mexico.

Oh yeah, they should be good for it.
I-am-a-panda
Posts: 15,380
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 12:14:16 PM
Posted: 5 years ago
Not necessarily. Time had a good piece which said that with 3.9% GDP growth up until 2021 the deficit could be severely reduced.

http://www.time.com...
Pizza. I have enormous respect for Pizza.
Ore_Ele
Posts: 25,980
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 12:17:35 PM
Posted: 5 years ago
At 3/4/2011 12:14:16 PM, I-am-a-panda wrote:
Not necessarily. Time had a good piece which said that with 3.9% GDP growth up until 2021 the deficit could be severely reduced.

http://www.time.com...

That's assuming that governmental spending remains the same. Which it likely won't. But it is still a good point. The more the economy grows, the more tax revenue the government brings in. When people are working, they are sending money into the government (income tax), when they are unemployed, they are pulling money out of the government (unemployment benefits, food stamps...).
"Wanting Red Rhino Pill to have gender"
darkkermit
Posts: 11,204
Add as Friend
Challenge to a Debate
Send a Message
3/4/2011 12:19:53 PM
Posted: 5 years ago
At 3/4/2011 12:14:16 PM, I-am-a-panda wrote:
Not necessarily. Time had a good piece which said that with 3.9% GDP growth up until 2021 the deficit could be severely reduced.

http://www.time.com...

GDP can not continue to grow at an exponential rate. Even with improvements in capital and technology there are only so many limited resources.
Open borders debate:
http://www.debate.org...
juvanya
Posts: 613
Add as Friend
Challenge to a Debate
Send a Message
3/6/2011 12:25:20 AM
Posted: 5 years ago
At 3/4/2011 1:03:58 AM, darkkermit wrote:
So, its no secret that the US government has a very high debt, and it continuously deficit spends. This pattern cannot go on forever.
It will either default, print money or cut programs and taxes will increase. Defaulting would make individuals and countries less likely to buy bonds, and would also cause bond holders to lose money, causing great economic problems. Printing money would cause massive inflation, essentially making money worthless. Cutting programs seems like the best of the solutions and increasing taxes, however this would still weaken others buying powers and many would be dissatisfied with cut programs (although many government programs are bad). This is especially true for elderly people expected medicare and social security benefits in the future.

So, does this mean that an economic depression will soon come of a magnitude greater then the Great Depression? How will people react to these huge changes?

What is your question exactly?