Putting u.s debt into perspective! "Pile of debt would stretch beyond stratosphere"

Discussion in 'Politics, Religion, Social Issues' started by Stella, May 23, 2011.

  1. Stella macrumors 604

    Stella

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    #1
  2. .Andy macrumors 68030

    .Andy

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    Disappointed they didn't say how many tennis courts the debt would cover or how many swimming pools of coins. I thought they were the other SI units for this kind of article.
     
  3. torbjoern macrumors 65816

    torbjoern

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    SI-units? Economics is not Physics, in which case there wouldn't be any debt crisis in the first place.
     
  4. leekohler macrumors G5

    leekohler

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    This will never change unless we get serious about paying our bills.
     
  5. SwiftLives macrumors 65816

    SwiftLives

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    I don't think the bank teller would be too happy about letting you cash out the entire national debt in dimes.

    Since we're on the topic of arbitrary representations of the debt, I wonder how tall the debt would be if represented by Sacajawea coins. Sure they're worth more, but they're also thicker. How about $2 bills folded into little paper airplanes. Or halfpennies!
     
  6. flopticalcube macrumors G4

    flopticalcube

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    Anyone shorting Treasury Bonds yet? This bull market has to come to an end sooner or later and the end will be ugly with so much paper.
     
  7. Pink∆Floyd macrumors 68020

    Pink∆Floyd

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  8. codymac macrumors 6502

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    Interestingly, Andrew Sheng credits physicists for contributing. Once the cold war ended and they no longer had defense jobs they entered finance.
    :D
     
  9. Sydde macrumors 68020

    Sydde

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    So you are implying that since Reagan ended the cold war, the financial crisis must be his fault?
     
  10. mcrain macrumors 68000

    mcrain

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    The Bush tax cut extension cost us 3.9 TRILLION dollars over 10 years. That would go a long way to turning things around.

    Add to that more taxes on large estates, higher marginal tax rates, elimination of corporate deductions/loopholes, and increased taxes on windfall profits...

    Then subtract savings on fraud and abuse crackdowns, increased tax compliance enforcement, and responsible cutting...

    The debt is high, but it can be reduced. We did it before using a combination of cutting spending, savings, enforcement and revenue; that's the way forward again. It's a shame one party has become nothing more than shills for large corporations and mega-wealthy contributors.
     
  11. KnightWRX macrumors Pentium

    KnightWRX

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    Why ? Just go for a zero-deficit budget, pay interest and let normal inflation turn your debt into nothing after 50 years.
     
  12. AP_piano295 macrumors 65816

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    #12
    This, people think about money and economics in the wrong way.

    Economies are just mechanisms to keep people doing "productive" things. In a very real sense all economics beyond the barter system is just smoke and mirrors.
     
  13. eawmp1 macrumors 601

    eawmp1

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    #13
    But it's stimulated the economy so, as all tax cuts do.





    (for the wealthiest among us)
     
  14. leekohler macrumors G5

    leekohler

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    There's not enough coming in to pay the bills. Time for the tax cuts to end and get spending under control. It has to be both.
     
  15. IntelliUser macrumors 6502

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    It's incredible what an extra "t" can do:

    Tax cuts for the rich simulate revenue growth.
     
  16. fivepoint macrumors 65816

    fivepoint

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    I can't tell if it's more funny, or more sad, no... I think it's actually more frightening, that the Democrat line on this issue tends to be one or a combination of the following:

    1) La, la, la, I hear nothing, I see nothing. Move along, nothing to see here.
    2) There's nothing wrong with debt.
    3) No cost is too high for MY favorite social program.
    4) We're not taxing enough. We're not redistributing enough. Government needs to be bigger. We're all socialists now.
     
  17. flopticalcube macrumors G4

    flopticalcube

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    I think the joke started when someone said, "Deficits don't matter." or perhaps "We're all Keynesians now."
     
  18. rdowns macrumors Penryn

    rdowns

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    #18

    Really, fivepoint? The only place I hear that is when you transcribe the voices in your head here.
     
  19. fivepoint macrumors 65816

    fivepoint

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    Keep advocating the growth of government, keep advocating higher taxes, and more spending... your own words implicate you. Unfortunately, it's our children who'll have to pay for your indiscretions.

    [​IMG]


    For this audience, I think this might be one of the more effective stats of the article:

    * The U.S. government borrows more than $40,000 per second. That's more than the cost of a year's tuition, room and board at many universities.
     
  20. rdowns macrumors Penryn

    rdowns

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    #20
    Keep posting lies and then deflecting when challenged.
     
  21. codymac macrumors 6502

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    I just thought what Sheng said was interesting (especially considering his Asian perspective).

    But, since you mention it, we kind of have to start with deregulation and go a lot farther back than 2008 to see what led up to it.

    The timing coincides, but I don't lay it entirely at any president's feet. They're not versed in economics so they act on the advise of those (criminals) who are.
     
  22. fivepoint macrumors 65816

    fivepoint

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    #22
    Whatever it takes for you to feel comfortable with what your Democrats and big government advocates everywhere (yes, many in the Republican party as well) have done to our country... to our financial future. Your positions supporting unsustainable 'entitlement' programs like SS, medicare, welfare, etc. are the only reason we're in this mess. Socialism has failed over and over again in history, in that same period nothing has proven even remotely close to free markets, capitalism, and small government, in their ability to create wealth, prosperity, and security for their citizens.

    The liberal fascination with 'equality' instead of 'equal opportunity' combined with your inability to assign substantial value to private property, to liberty, etc. have all combined to throw us into this situation. Unfortunately, at this point, we're going to need hard changes to get us out of this mess.
     
  23. leekohler macrumors G5

    leekohler

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    #23
    We tried it your way since Reagan. It doesn't work.

    WTF are you talking about? Everything you just posted is blatantly false. Where do you get this delusional garbage?
     
  24. rdowns macrumors Penryn

    rdowns

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    #24
    You're funny and sad at the same time. You love to throw the word liberal around and you use it as an insult. The sad part is that you've agreed with me in discussions on our debt and how to deal with it. I realize you can't help yourself but I thought I'd point out how silly your posts really are. BTW, I'm not a liberal.
     
  25. leekohler macrumors G5

    leekohler

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    Yes, you are. Anyone who disagrees with fivepoint is a liberal. You should know that by now.
     

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