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National Debt

tmar19652
Posts: 727
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1/5/2013 2:08:02 PM
Posted: 3 years ago
Anyone want to share solutions to the national debt.

Also, bush added ~5 trillion in 8 years, and Obama added ~6 trillion in 4 years. (http://www.usdebtclock.org...) Debate!
"Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first." -Ronald Reagan

"The notion of political correctness declares certain topics, certain ex<x>pressions even certain gestures off-limits. What began as a crusade for civility has soured into a cause of conflict and even censorship." -George H.W. Bush
Lordknukle
Posts: 12,788
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1/5/2013 2:41:19 PM
Posted: 3 years ago
Cut down military and social welfare by 50% each. That should cut it.
"Easy is the descent to Avernus, for the door to the Underworld lies upon both day and night. But to retrace your steps and return to the breezes above- that's the task, that's the toil."
malcolmxy
Posts: 2,855
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1/5/2013 3:14:42 PM
Posted: 3 years ago
At 1/5/2013 2:41:19 PM, Lordknukle wrote:
Cut down military and social welfare by 50% each. That should cut it.

The only social welfare programs of any consequence in the federal budget are social security and medicare. So, after a lifetime of paying a tax directly into these funds (and having them raped as the government dipped into them for things not relating to them), we should just cut these loyal, tax paying Americans' benefits that they banked on when planning their retirement? 'Cause seriously, I really don't want to see Betty White re-entering the workforce if I can help it, and beside, what jobs are out there for these now desperate senior citizens to use to supplement their slashed income and benefits?

Also, as much as I am loathe to defend Obama, $3 trillion of the added deficit under his 1st four years was either money that Bush actually spent in his presidency, but deferred until his successor took office, or interest on the portion of the debt that he incurred in his 8 years in office.

Obama can hardly be held accountable for that money.
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malcolmxy
Posts: 2,855
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1/5/2013 3:18:11 PM
Posted: 3 years ago
At 1/5/2013 2:08:02 PM, tmar19652 wrote:
Anyone want to share solutions to the national debt.

Also, bush added ~5 trillion in 8 years, and Obama added ~6 trillion in 4 years. (http://www.usdebtclock.org...) Debate!

Spend as much money as possible while also lowering interest rates. This is the only way to pull yourself out of a recession, and once we actually recover from the last recession, increasing taxes and slashing spending actually make sense as opposed to being the worst possible idea in the history of worst possible ideas, as instituting those policies would be should they be instituted today.
War is over, if you want it.

Meet Dr. Stupid and his assistants - http://www.debate.org...
tmar19652
Posts: 727
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1/5/2013 4:09:03 PM
Posted: 3 years ago
At 1/5/2013 3:14:42 PM, malcolmxy wrote:
At 1/5/2013 2:41:19 PM, Lordknukle wrote:
Cut down military and social welfare by 50% each. That should cut it.

The only social welfare programs of any consequence in the federal budget are social security and medicare. So, after a lifetime of paying a tax directly into these funds (and having them raped as the government dipped into them for things not relating to them), we should just cut these loyal, tax paying Americans' benefits that they banked on when planning their retirement? 'Cause seriously, I really don't want to see Betty White re-entering the workforce if I can help it, and beside, what jobs are out there for these now desperate senior citizens to use to supplement their slashed income and benefits?

Also, as much as I am loathe to defend Obama, $3 trillion of the added deficit under his 1st four years was either money that Bush actually spent in his presidency, but deferred until his successor took office, or interest on the portion of the debt that he incurred in his 8 years in office.

Obama can hardly be held accountable for that money.

Bush had carryover from Clinton too, what's your point?
"Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first." -Ronald Reagan

"The notion of political correctness declares certain topics, certain ex<x>pressions even certain gestures off-limits. What began as a crusade for civility has soured into a cause of conflict and even censorship." -George H.W. Bush
Jake-migkillertwo
Posts: 67
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1/5/2013 7:39:10 PM
Posted: 3 years ago
At 1/5/2013 2:08:02 PM, tmar19652 wrote:
Anyone want to share solutions to the national debt.

Also, bush added ~5 trillion in 8 years, and Obama added ~6 trillion in 4 years. (http://www.usdebtclock.org...) Debate!

What exactly is there to solve?

An economy's performance is based on real factors: what kind of legal institutions does this country have, how much capital there is, how many workers there are, the relative supply and demand for its goods and services on world markets, etc.

The relationship between the deficit, which is the actual borrowing that takes place, and an economy's performance is very straightforward. Every dollar borrowed by the government is one less dollar (or less) that can be used to expand the nation's capital stock, or go into research and development.

But there doesn't seem to be such an obvious relationship between the debt itself and economic performance.

On one hand, some of that debt will have to be repaid and it will involve large redistributions of wealth later on, but one person's loss is another person's gain. So it's not clear that that particular action will harm the economy.

Then there are short-run implications. Monetary policy, specifically monetary stimulus, is a lot easier to conduct when there is a large stock of outstanding treasury bonds that the Fed can buy to inject money into financial markets. They can buy other securities, but these are less liquid and more risky. This is why Congress and the Federal Reserve was actually worried that the surplus created during the Clinton years was excessive.

So to solve the deficit, we need to cut government spending by reducing the growth of medical costs caused by an aging population and increased medical technology. But realistically, we will still need to raise taxes because medical costs will continue to grow over time, and we will still not want to leave seniors out in the cold.
Suqua
Posts: 433
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1/7/2013 2:32:24 AM
Posted: 3 years ago
At 1/5/2013 2:08:02 PM, tmar19652 wrote:
Anyone want to share solutions to the national debt.

Also, bush added ~5 trillion in 8 years, and Obama added ~6 trillion in 4 years. (http://www.usdebtclock.org...) Debate!

Hey everything costs more these days. Including your working to pay this.
Nothing to worry about it's only a few trill. Ask the private own unconstitutional poor old Federal Reserve. They thinks it's for the best, for them, that is.
Talk about the Federal Reserve, I have an Idea, why not kick out the UnConstitutional Federal Reserve, print them the paper money we borrowed from them and print our own money? All we need is the will from those in the Whitehouse....what. ?.....their hands are in there pockets. Well I never. And I never will. Wake up. This can be changed by the will of the people. Then and only when we have had enough, will things change for the better. We've been doped and we have liked it far too long.
It's only too late when your dead. It's in the Constitution what we can do if things are unConstitutional. Unless.................... we............. Like........... The..........way..................it
Is. Maybe?
Contra
Posts: 3,941
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1/8/2013 2:58:47 PM
Posted: 3 years ago
1. Gradually phase out entitlements
2. Massively cut taxes and spending
3. Cut the Red Tape
4. Expand Free Trade
5. Balance the Budget

This here is the plan that would over time cut down on the debt and restore American prosperity and economic growth. Personalized entitlements, where workers invest a portion of their earnings in the stock market would infuse capital into the economy, which would allow business expansion and investment (more production), as well as strengthen the retirement security of millions of people.

Phasing out entitlements would make sure we don't have to face the future $120 trillion in unfunded liabilities. These "mandatory programs" are the biggest threat to our economic future, as numerous CBO projections have shown.

(http://www.google.com...)

The rest of the plan primarily focuses on improving the economy, which is essential for reducing consumer debts, and would generate higher tax revenues which are necessary for paying down the debt.

The only problem would be to pass a plan similar to this, which would be politically very difficult.
"The solution [for Republicans] is to admit that Bush was a bad president, stop this racist homophobic stuff, stop trying to give most of the tax cuts to the rich, propose a real alternative to Obamacare that actually works, and propose smart free market solutions to our economic problems." - Distraff

"Americans are better off in a dynamic, free-enterprise-based economy that fosters economic growth, opportunity and upward mobility." - Paul Ryan
tmar19652
Posts: 727
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1/8/2013 3:46:38 PM
Posted: 3 years ago
At 1/8/2013 2:58:47 PM, Contra wrote:
1. Gradually phase out entitlements
2. Massively cut taxes and spending
3. Cut the Red Tape
4. Expand Free Trade
5. Balance the Budget

This here is the plan that would over time cut down on the debt and restore American prosperity and economic growth. Personalized entitlements, where workers invest a portion of their earnings in the stock market would infuse capital into the economy, which would allow business expansion and investment (more production), as well as strengthen the retirement security of millions of people.

Phasing out entitlements would make sure we don't have to face the future $120 trillion in unfunded liabilities. These "mandatory programs" are the biggest threat to our economic future, as numerous CBO projections have shown.

(http://www.google.com...)

The rest of the plan primarily focuses on improving the economy, which is essential for reducing consumer debts, and would generate higher tax revenues which are necessary for paying down the debt.

The only problem would be to pass a plan similar to this, which would be politically very difficult.


That's the problem, is that no-one will pass any cuts for anything.
"Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first." -Ronald Reagan

"The notion of political correctness declares certain topics, certain ex<x>pressions even certain gestures off-limits. What began as a crusade for civility has soured into a cause of conflict and even censorship." -George H.W. Bush
lannan13
Posts: 23,074
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8/7/2014 9:12:49 AM
Posted: 2 years ago
Cut back on Social Security and Welfare.
Curtail the Baseline budgeting on the military.
Leave Education to the States.
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If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
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lannan13
Posts: 23,074
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8/7/2014 9:16:03 AM
Posted: 2 years ago
Mining Asteroids for REMs could also be a great way to spur the economy and pay off our debt quickly. Some asteroids have over $100 trillion in platenum in them and we can use that for technology and would be able to become self reliant and wouldn't have to reply so much on China for our technology.
-~-~-~-~-~-~-~-Lannan13'S SIGNATURE-~-~-~-~-~-~-~-

If the sky's the limit then why do we have footprints on the Moon? I'm shooting my aspirations for the stars.

"If you are going through hell, keep going." "Sir Winston Churchill

"No one can make you feel inferior without your consent." "Eleanor Roosevelt

Topics I want to debate. (http://tinyurl.com...)
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iggy1993
Posts: 21
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8/8/2014 12:30:48 PM
Posted: 2 years ago
At 1/5/2013 2:08:02 PM, tmar19652 wrote:
Anyone want to share solutions to the national debt.

Also, bush added ~5 trillion in 8 years, and Obama added ~6 trillion in 4 years. (http://www.usdebtclock.org...) Debate!

step 1: Take down the FED, there can't be a chance for equality when a private, secretive organization has that much power and no one who controls it, not to mention that it's above the law- which one of it's speakers actually admitted!

step 2: Take away a portion of the central governments power and hand it to elected senators; a large, central government will almost always turn elitist, not to mention that this would make it a lot harder for them to conspire against the people on such a large scale.

step 3: Initiate an 80% tax rate for the top 1%; currently the 400 wealthiest Americans(at least officially) make more than the poorest 150 million, this is inevitable if you apply equal tax rates to all classes. Capital always has a tendency to flow towards those with more capital in the free market, this has to be countered in order for Capitalism to even have a fighting chance.

step 4: Put up an maximum amount of money every politician can use for his/her campaign and create a law that prohibits that money coming from anywhere other than the government itself(this also counts on a state-level); this will encourage more middle class citizens to run for more significant positions and will create greater competition, which is the backbone of capitalism.

step 5: Put into place new restrictions for bankers, they can't be allowed to have too much power otherwise you have the situation that we have today where they can blackmail the government and do whatever they wish, also this should prevent them from forming banker-cartels.

step 6: Put into practice new laws that prohibit job-outsourcing, this will lead to the rise of the fallen middle class.

step 7: Make sure that all government institutions are well-monitored, this prevents organizations like the NSA, CIA, FBI from pursuing some alternate agenda.

step 8: Limit the amount of money that the government can spend on military, they have gone fat over-board with this current budget, 1/3 of the countries children in the US live below the poverty line, and they are still spending more on arms than the rest of the world combined........absurd!

That's about it, I might have missed something so I'll probably revisit this.....
twocupcakes
Posts: 2,750
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8/13/2014 8:12:00 PM
Posted: 2 years ago
At 8/8/2014 12:30:48 PM, iggy1993 wrote:
At 1/5/2013 2:08:02 PM, tmar19652 wrote:
Anyone want to share solutions to the national debt.

Also, bush added ~5 trillion in 8 years, and Obama added ~6 trillion in 4 years. (http://www.usdebtclock.org...) Debate!

step 1: Take down the FED, there can't be a chance for equality when a private, secretive organization has that much power and no one who controls it, not to mention that it's above the law- which one of it's speakers actually admitted!

The FED needs to not be influenced by anyone or the government.

The government controls the Argentina Central Bank which has caused high inflation and an economic crisis.
MisterMittens
Posts: 3,660
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8/22/2014 3:30:52 AM
Posted: 2 years ago
I don't think there's a solution to the debt per se. I think the debt consists of a set of smaller sub-problems.
As mentioned above, there are the social security benefits which many of the aging population perhaps justifiably feel they deserve. The amount money doled out for it is immense. This one is extremely controversial. Denying these benefits completely would free up a huge portion of our national debt. It is, however, arguably immoral since it could severely damage beneficiaries' abilities to sustain their livelihoods.
There is the defense budget which consumes just about as much money as the social security benefits. Much of this money is dumped into on incredibly wasteful and incredibly stupid projects (i.e. the $400,000,000,000 F-35 plane that can't even fly, the $600,000,000 decade-long project developing a couple LCS combat ship which can't even survive in combat , etc).
There is health care spending totaling over a trillion dollars a year. Health care is a taboo subject to any politician who cares about his/her career. There doesn't seem to be a solution here. And then there are Obama's medicaid plans. How's that working out?
Health care, defense and social security are our largest areas of spending, and it is to health care, defense and social security to which we must obviously turn if we want a solution.
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Otokage
Posts: 2,347
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8/22/2014 4:45:33 PM
Posted: 2 years ago
Prosecute tax fraud. If Google did not take refuge in Vermudas to evade taxes, USA would have THOUSANDS of millions available to deal with the debt. Apply this to all america's multionational companies and voila!, goodbye national debt.

Problem is you need to care about citizens and not companies to do this, and Obama clearly doesn't care about you all so...
slo1
Posts: 4,351
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9/2/2014 10:00:17 AM
Posted: 2 years ago
At 1/5/2013 4:09:03 PM, tmar19652 wrote:
At 1/5/2013 3:14:42 PM, malcolmxy wrote:
At 1/5/2013 2:41:19 PM, Lordknukle wrote:
Cut down military and social welfare by 50% each. That should cut it.

The only social welfare programs of any consequence in the federal budget are social security and medicare. So, after a lifetime of paying a tax directly into these funds (and having them raped as the government dipped into them for things not relating to them), we should just cut these loyal, tax paying Americans' benefits that they banked on when planning their retirement? 'Cause seriously, I really don't want to see Betty White re-entering the workforce if I can help it, and beside, what jobs are out there for these now desperate senior citizens to use to supplement their slashed income and benefits?

Also, as much as I am loathe to defend Obama, $3 trillion of the added deficit under his 1st four years was either money that Bush actually spent in his presidency, but deferred until his successor took office, or interest on the portion of the debt that he incurred in his 8 years in office.

Obama can hardly be held accountable for that money.

Bush had carryover from Clinton too, what's your point?

LOL, how exactly can you equate a budget surplus carry over to the Great Recession carry over?