Revised White House / OMB Debt Projection at $17.5T by 2019

Discussion in 'Politics, Religion, Social Issues' started by mkrishnan, Aug 25, 2009.

  1. mkrishnan Moderator emeritus

    mkrishnan

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    #1
    http://www.nytimes.com/2009/08/26/business/economy/26deficit.html?_r=1&hp

    These are just excerpts... I think the last bit is interesting... we knew of course that this would happen as our debt increased, but I think it highlights a big part of the dilemma -- even if both Republicans and Democrats got their way and we cut down our war spending and our social services, with that kind of interest burden, there just has to be a major emphasis on organic growth -- I don't see any way strategically that cutting costs is going to get us back out of this.
     
  2. NT1440 macrumors G4

    NT1440

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    #2
    Looks like this country is going to have to start actually making products again instead of pushing money around for a living.

    Hopefully we can become a world leader in Green Tech and ride that puppy to economic success, but remember, more than half of us still dont beleive in evolution so i think its safe to say we're screwed.
     
  3. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #3
    Its hard to be optimistic when looking at these numbers, I think its fairly obvious that we have to act sooner than later as this debt interest is just going to snowball us if it hasn't already. Anyone who knows anyone with credit debt knows that once you go over the edge its very hard to work your way out. Its ridiculous that it has gotten to this point under both Republican and Democrat watch, they have failed our country.

    We were going to have troubles no matter what with the baby boomers retiring and entitlement programs, with that cement dry around our feet we decided to add a few anchors by getting involved in foreign wars and private industry.

    I am not sure whats going to be worse, being young and getting taxed to the hilt or being old and not being sure if the government will be able to support you.
     
  4. leekohler macrumors G5

    leekohler

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    #4
    Agreed. It's time for us to be leaders again and not conquerors. We need to get jobs back here and knock off the outsourcing.
     
  5. NT1440 macrumors G4

    NT1440

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    #5
    How about being young and witnessing the (mostly) older politicians continuously do what they can to make sure that absolutely nothing changes, or only changes on the face. That sucks incredibly as well.

    Yes we do have to address issues SOON, but facing reality drives poll numbers down, always.

    What this country needs to realize is that change is hard and we need to "suffer" now for a few years while we reform, to ensure a better tomorrow.

    I've always lived my life thinking that if you can tough it out for the relatively short term to achieve success in the long run, you'll be in SO much better shape later on*.


    *Disclimer: Thinking not valid in regards to homework.
     
  6. NT1440 macrumors G4

    NT1440

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    #6
    I think its high time we do what apple does. We need to really START the market, and I say the perfect one to really go all in for is Green Tech. The second Green Revolution is JUST beginning, and there is huge job potential in both developing and applying the new technologies. Yes we may no longer be what people typically think of manufacturing nations anymore, but we have a golden opportunity to not only lead the world, start a real revolution on a massive scale, but to also make a ******** of money in doing it.

    Green is this centuries gold rush. We just need to stop kidding around and really go for it.

    Edit: Mods Im so sorry for all the double posts today, it seems the forums dont move nearly as fast as my ideas do
     
  7. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #7
    I agree that a time of suffering is going to be inevitable, its too bad that so many former generations/politicians decided to put it off on the next generation. Hopefully when/if we recover we don't spend money today for immediate relief and let the next generation pay heavily tomorrow.
     
  8. NT1440 macrumors G4

    NT1440

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    #8
    I'm confused. By the underlined it seems that you advocate doing exactly what you just condemned? My apologies if I'm just not understanding your wording or skimmed it too fast.
     
  9. Sdashiki macrumors 68040

    Sdashiki

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    #9
    I always find the oft-repeated notion that the youth of this country will rise up into political power after witnessing how the "old-fogies" messed it all up.

    Always forgetting that those who say that kind of thing are just the type of people who have no interest in becoming a Politician.

    And the "squares" they mocked in high school and college ARE the ones who want and take those political positions.

    Its why pot is STILL illegal after the Carter administration. Where are all those youth of the day now? Id estimate the ones who cared to actually make a change to this country, arent the ones in power now. Because they know, or realize, how futile it is and just say "eff it." :rolleyes:
     
  10. fivepoint macrumors 65816

    fivepoint

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    #10
    The INEVITABLE result of big government, entitlement programs, war empires, societal lack of personal responsibility, the nanny state, destruction of personal liberties and much more.

    Financial liberals are bankrupting this country and BO's big plan is to grow big government, expand entitlement programs, continue to fund the empire, reduce personal responsibility, further empower the nanny state, etc.

    In many ways, his CHANGE actually equals more/worse of the exact same thing.
     
  11. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #11
    I basically meant not to wrack up tons of debt and push it to the next generation so that we end up with a pile of debt to pay off. I don't agree with mortgaging the next generations future so that I can be comfortable today.
     
  12. yg17 macrumors G5

    yg17

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    #12
    Oh noes! Big government! Welfare! Socialism! Any other right wing buzzwords up your sleeve?

    The US has one of the smallest governments in the world and yet, our economy is the one in the toilet. If big government is so terrible, why haven't European, Canadian and Asian economies collapsed.
     
  13. NT1440 macrumors G4

    NT1440

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    #13
    You know, theres alot of truth in what you say. My facination with politics has turned me completely off to wanting to be a politician.
     
  14. freeny macrumors 68020

    freeny

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    #14
    Until the "Fiscal Conservatives" can deliver one single leader that can create a surplus instead of a deficit, this is all hot air and hypocrisy...
     
  15. Sdashiki macrumors 68040

    Sdashiki

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    #15
    Thats the better way to say it. Thanks!
     
  16. Eraserhead macrumors G4

    Eraserhead

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    #16
    So why is the Chinese government one of the most successful in the world?

    EDIT: This is a serious question, its not a troll. The Chinese have developed faster than any country ever - they have turned their cities from third world to first world in a generation. Yet they also have a very big government, they run a nanny state and to at least some extent (Tibet for example, and their inability to finalise their borders with the neighbours) they also are "empire builders". They also aren't strong on personal liberties (though that has improved).
     
  17. Zombie Acorn macrumors 65816

    Zombie Acorn

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    #17
    They essentially laxed their government restrictions on business, and promoted foreign trade/private and rural business.
     
  18. fivepoint macrumors 65816

    fivepoint

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    #18
    Saying you're a 'fiscal conservative' does not make you one. George W. Bush for example can say over and over how much of a fiscal conservative he is... but at the end of the day, we all know what he really is... a big-government fiscal liberal. You're implication of 'hypocrisy' is exactly right in regards to many Republicans.




    They're not buzzwords, they're political ideals by many misguided individuals. And look what they've gotten you.

    As for other countries, I don't think many politicians in the EU are talking to highly of their own economy at the moment. As for China, they're a bit more complex, but needless to say... their current upswing is due to their unique free market principles and that they're the ones loaning money, not taking it out in debt. A very fiscally conservative thing to do.
     
  19. Eraserhead macrumors G4

    Eraserhead

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    #19
    To an extent, the state is still very big though and foreign companies have a fairly hard time, Coca Cola is a recent example. EDIT: The Chinese are nowhere near as liberal on those things as the Europeans and Americans.

    While that is true the French and the German economies are growing now.
     

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