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U.S. Record

innomen
Posts: 10,052
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3/7/2011 2:15:28 PM
Posted: 5 years ago
The U.S. hit a record in February for the highest deficit spending in US history.

http://hotair.com...

This really isn't the way to get re-elected, unless you believe that the national debt is a conservative manufactured issue - in which case you will vote for the problem anyway.
Greyparrot
Posts: 14,222
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3/7/2011 2:25:08 PM
Posted: 5 years ago
At 3/7/2011 2:15:28 PM, innomen wrote:
The U.S. hit a record in February for the highest deficit spending in US history.

http://hotair.com...

This really isn't the way to get re-elected, unless you believe that the national debt is a conservative manufactured issue - in which case you will vote for the problem anyway.

Does anyone know if it is possible for USA to run out of lenders before we reach the point where 100% of taxes goes to interest payments?
innomen
Posts: 10,052
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3/7/2011 3:03:52 PM
Posted: 5 years ago
At 3/7/2011 2:25:08 PM, Greyparrot wrote:
At 3/7/2011 2:15:28 PM, innomen wrote:
The U.S. hit a record in February for the highest deficit spending in US history.

http://hotair.com...

This really isn't the way to get re-elected, unless you believe that the national debt is a conservative manufactured issue - in which case you will vote for the problem anyway.

Does anyone know if it is possible for USA to run out of lenders before we reach the point where 100% of taxes goes to interest payments?

I was waiting for one of our economic smarties to give you some exact information, but there is some point where we will lose income from our investors when the debt reaches such a level that the interest is greater than the income or some such. The problem would be for the investors though, where if we were to default on our loans they would be in as much trouble as we are.

Also, at this point, i think that there is some debt being used to pay the debt - total insanity.
LaissezFaire
Posts: 2,050
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3/7/2011 3:05:26 PM
Posted: 5 years ago
At 3/7/2011 2:25:08 PM, Greyparrot wrote:
At 3/7/2011 2:15:28 PM, innomen wrote:
The U.S. hit a record in February for the highest deficit spending in US history.

http://hotair.com...

This really isn't the way to get re-elected, unless you believe that the national debt is a conservative manufactured issue - in which case you will vote for the problem anyway.

Does anyone know if it is possible for USA to run out of lenders before we reach the point where 100% of taxes goes to interest payments?

We've already run out of lenders. Right now, we're just printing money to cover the entire deficit.
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: At 6/22/2011 6:57:23 PM, el-badgero wrote:
: i didn't like [Obama]. he was the only black dude in moneygall yet he claimed to be home. obvious liar is obvious liar. i bet him and bin laden are bumfvcking right now.
Xer
Posts: 7,776
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3/7/2011 7:56:19 PM
Posted: 5 years ago
Don't worry, the Republicans are willing to cut 1.6% of the budget and the Democrats are willing to cut 0.28% of the budget.

There will be no budget deficit any time now.
Volkov
Posts: 9,765
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3/7/2011 7:57:32 PM
Posted: 5 years ago
At 3/7/2011 7:56:19 PM, Nags wrote:
Don't worry, the Republicans are willing to cut 1.6% of the budget and the Democrats are willing to cut 0.28% of the budget.

There will be no budget deficit any time now.

If I could like this, I would.
PARADIGM_L0ST
Posts: 6,958
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3/7/2011 8:00:26 PM
Posted: 5 years ago
At 3/7/2011 2:15:28 PM, innomen wrote:
The U.S. hit a record in February for the highest deficit spending in US history.:

This is one record I hope never gets broken ever again, lest it break our backs.
"Have you ever considered suicide? If not, please do." -- Mouthwash (to Inferno)
Xer
Posts: 7,776
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3/7/2011 8:01:27 PM
Posted: 5 years ago
At 3/7/2011 7:57:32 PM, Volkov wrote:
At 3/7/2011 7:56:19 PM, Nags wrote:
Don't worry, the Republicans are willing to cut 1.6% of the budget and the Democrats are willing to cut 0.28% of the budget.

There will be no budget deficit any time now.

If I could like this, I would.

Volkov, I haven't seen you in a while. It's a pleasure to meet again sir.
Volkov
Posts: 9,765
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3/7/2011 8:03:23 PM
Posted: 5 years ago
At 3/7/2011 8:01:27 PM, Nags wrote:
At 3/7/2011 7:57:32 PM, Volkov wrote:
At 3/7/2011 7:56:19 PM, Nags wrote:
Don't worry, the Republicans are willing to cut 1.6% of the budget and the Democrats are willing to cut 0.28% of the budget.

There will be no budget deficit any time now.

If I could like this, I would.

Volkov, I haven't seen you in a while. It's a pleasure to meet again sir.

The same, Nags. How's the tear-licking business going?
PARADIGM_L0ST
Posts: 6,958
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3/7/2011 8:05:46 PM
Posted: 5 years ago
Does anyone know if it is possible for USA to run out of lenders before we reach the point where 100% of taxes goes to interest payments?:

Yes, I think it's somewhere in the ballpark of 45% of US assets are owned overseas, and that trend shows no signs of stopping. At the rate we're at, there's no way anyone would lend us money because they all know we're headed for insolvency.

This is worth spending 30 minutes on
"Have you ever considered suicide? If not, please do." -- Mouthwash (to Inferno)
Xer
Posts: 7,776
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3/7/2011 8:06:46 PM
Posted: 5 years ago
At 3/7/2011 8:03:23 PM, Volkov wrote:
At 3/7/2011 8:01:27 PM, Nags wrote:
At 3/7/2011 7:57:32 PM, Volkov wrote:
At 3/7/2011 7:56:19 PM, Nags wrote:
Don't worry, the Republicans are willing to cut 1.6% of the budget and the Democrats are willing to cut 0.28% of the budget.

There will be no budget deficit any time now.

If I could like this, I would.

Volkov, I haven't seen you in a while. It's a pleasure to meet again sir.

The same, Nags. How's the tear-licking business going?

Tears are bountiful across the internet, so it's going well. How's the seal-clubbing business going?
Volkov
Posts: 9,765
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3/7/2011 8:09:23 PM
Posted: 5 years ago
At 3/7/2011 8:06:46 PM, Nags wrote:
At 3/7/2011 8:03:23 PM, Volkov wrote:
At 3/7/2011 8:01:27 PM, Nags wrote:
At 3/7/2011 7:57:32 PM, Volkov wrote:
At 3/7/2011 7:56:19 PM, Nags wrote:
Don't worry, the Republicans are willing to cut 1.6% of the budget and the Democrats are willing to cut 0.28% of the budget.

There will be no budget deficit any time now.

If I could like this, I would.

Volkov, I haven't seen you in a while. It's a pleasure to meet again sir.

The same, Nags. How's the tear-licking business going?

Tears are bountiful across the internet, so it's going well. How's the seal-clubbing business going?

The Europeans are making it a little tough but I can deliver a still blood-soaked fur coat anywhere in the US pretty quickly. Along with a picture of a cute baby seal.
innomen
Posts: 10,052
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3/8/2011 4:15:58 AM
Posted: 5 years ago
At 3/7/2011 8:05:46 PM, PARADIGM_L0ST wrote:
Does anyone know if it is possible for USA to run out of lenders before we reach the point where 100% of taxes goes to interest payments?:

Yes, I think it's somewhere in the ballpark of 45% of US assets are owned overseas, and that trend shows no signs of stopping. At the rate we're at, there's no way anyone would lend us money because they all know we're headed for insolvency.

This is worth spending 30 minutes on



In 10 years our interest on the debt will exceed 900 billion, which is more than we pay in medicare. If we don't reverse the wheels of how we're doing everything, lenders will stop lending, which will cause interest rates to sky rocket. It isn't a political issue at all, it is as Hillary said, a national security issue.
Greyparrot
Posts: 14,222
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3/8/2011 1:13:46 PM
Posted: 5 years ago
At 3/7/2011 7:40:34 PM, Rob1_Billion wrote:
if we were to default on our loans they would be in as much trouble as we are.

Exactly why nobody gives a sh*t.

You are very correct in this sir, which is why the point at which people stop lending us money is far more important than interest payments outstripping the GDP growth.

People will, as you say it, give a sh*t, when inflation make us all equally poor, all across class lines.
PervRat
Posts: 963
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3/8/2011 3:19:18 PM
Posted: 5 years ago
At 3/7/2011 7:56:19 PM, Nags wrote:
Don't worry, the Republicans are willing to cut 1.6% of the budget and the Democrats are willing to cut 0.28% of the budget.

There will be no budget deficit any time now.

Hilarious!

Republicans are trying very hard to expand the deficit as hard as they can by furthering welfare for oil CEOs and other institutions that are reaping in record profits because of (not despite) the recession that is killing the country. The cuts to health care including closing down mental health clinics at a time of rising mental health issue and throwing 98 Arizonans in dire need of transplants off the waiting list to save $2 million only to give $300 million in tax breaks to wealthy Arizonans, the cuts to the IRS to go after wealthy tax cheats who force the good taxpayers to pay what they owe, they all pale to the billions in subsidies to oil companies raking in record profits (every single Republican passed a continuation of this welfare to the already wealthy).

If you think Republicans are even trying to actually cut the deficit, the joke is on you. As they always have, they are stealing from the poor to give welfare to the already wealthy.
Greyparrot
Posts: 14,222
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3/8/2011 6:25:09 PM
Posted: 5 years ago
At 3/8/2011 3:19:18 PM, PervRat wrote:

If you think Republicans are even trying to actually cut the deficit, the joke is on you. As they always have, they are stealing from the poor to give welfare to the already wealthy.

I heard all the dirty republicans were going to confiscate 50% of taxes from the poor and then mail it only to the rich people that contributed their campaign.
This is not just a cool story bro, its
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Ore_Ele
Posts: 25,980
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3/8/2011 6:28:43 PM
Posted: 5 years ago
At 3/7/2011 7:56:19 PM, Nags wrote:
Don't worry, the Republicans are willing to cut 1.6% of the budget and the Democrats are willing to cut 0.28% of the budget.

There will be no budget deficit any time now.

Lol, nice.

But anyway. isn't this a "record" that has been broken pretty much every single year in the past 40 years?
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