Topic: Debt clock..

[Cheesemaker]

Saw this on another site. 

http://www.usdebtclock.org/


What do you think will happen when we hit $15 trillion?  I've been reading about how the US Government is putting a cap a $15 trillion.  I just about shot beer out my nose when I heard that.   

[brainlessfool]

shut it down. 

[abnormaltoy]

Wow. That took all the wind outta my sails. 

[Toymin8r]

It will eventually reach a point when the interest on the debt will exceed the GDP.     When that happens we're screwed.

[abnormaltoy]

It will eventually reach a point when the interest on the debt will exceed the GDP.     When that happens we're screwed.

Bubba, they're lubing us up right now.

[Shamb]

This is a repost, who originally posted this awhile back? 

I found it interesting that my house get's paid off completely about every 5-7 seconds.

[Rocksurfer]

If the R's grow some and don't allow it to be raised any further Obamanation will have to make the cuts the R's want in the first place. Can't spend what you don't have. Hmmmmmm

[brainlessfool]

shut it down. 

[abnormaltoy]

If the R's grow some and don't allow it to be raised any further Obamanation will have to make the cuts the R's want in the first place. Can't spend what you don't have. Hmmmmmm

I'm going to differentiate, as I usually do, between R's and C's...Conservatives. I'm not so sure that the problem in DC lies only with ideology. There has to be a mindset disconnect with professional politicians and the real world as well. They just do not understand that DC earns no money...the only money the get, they confiscate from We the People.

[Stocker]

This is a repost, who originally posted this awhile back? 

Guilty as charged   

http://board.marlincrawler.com/index.php?topic=66489.msg806646#msg806646

[Stocker]

There has to be a mindset disconnect with professional politicians and the real world as well. They just do not understand that DC earns no money...the only money the get, they confiscate from We the People.

Yes, but it all balances out. We the People often see tax refunds as a gift from the government, rather than a return of part of the money they took from us in the first place!

It's kinda like finding money in your laundry. You didn't gain anything; it was yours to begin with.

[Stocker]

Speaking of money... here's a great illustration of what one trillion dollars looks like.
http://www.pagetutor.com/trillion/index.html

If that's not enough to make your eyes bug out, click the link at the bottom of the page to see the US debt in $100 bills. It's outdated though, showing "only" $11 trillion (as of March 2009).

[Stocker]

Last related post for awhile, I promise!

It is my firm belief that if every US citizen totally bankrupted themselves and turned over all their assets -- savings, investments, retirement, everything -- to the government, our elected oafficials would p!ss it all away in less than a year and come begging for more. And we would still, somehow, have a runaway National debt. 

[abnormaltoy]

It's kinda like finding money in your laundry. You didn't gain anything; it was yours to begin with.

I can't give an amount...but, from the ignorance or laziness of the taxpayer, the US treasury saves billions of dollars in interest that would otherwise be due on even a passbook saving account. How anyone can justify letting this happen by saying "it's an easy way to save" is beyond me.

[abnormaltoy]

Last related post for awhile, I promise!

It is my firm belief that if every US citizen totally bankrupted themselves and turned over all their assets -- savings, investments, retirement, everything -- to the government, our elected oafficials would p!ss it all away in less than a year and come begging for more. And we would still, somehow, have a runaway National debt.  

If the government took everything, from everyone, from every company...for one year, we could pay off the debt. We'd all be dead from starvation, but America would be debt free!   The debt is 14.something trillion and the 2009 GDP was 14.9 trillion.

WE simply must make them stop spending.

[Stocker]

If the government took everything, from everyone, from every company...for one year, we could pay off the debt. We'd all be dead from starvation, but America would be debt free!   The debt is 14.something trillion and the 2009 GDP was 14.9 trillion.

I'll admit I failed to do the math. It's just something I grumble about when I feel the need to grumble. Glad to hear we could pay off the debt by simply dying off. Sure hope the gov't doesn't get wind of this solution.

WE simply must make them stop spending.

I fully agree, though it seems you'd have a better chance slowing a runaway freight train by sticking your big toe on the track.

I vote every chance I get but it's about as effective as peeing in the ocean.

[abnormaltoy]

I vote every chance I get but it's about as effective as peeing in the ocean.

Grasshopper...peeing in the ocean is very effective, if your goal is to hide your actions!

Master Po