US national debt clock runs out of digits.

Discussion in 'Politics, Religion, Social Issues' started by JG271, Oct 9, 2008.

  1. JG271 macrumors 6502a

    JG271

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  2. Much Ado macrumors 68000

    Much Ado

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  3. rdowns macrumors Penryn

    rdowns

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  4. Veldek macrumors 68000

    Veldek

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    #4
    Does that mean you will suddenly have zero debt, because the leading 1 will be missing? What a great way to get rid of it! :D ;)
     
  5. belvdr macrumors 601

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    #5
    This seems like old news for some reason... Thinking I read this somewhere earlier this week or late last week, but I cannot find out where.
     
  6. wordmunger macrumors 603

    wordmunger

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    #6
    Actually they turned the dollar sign into a 1 and put up a hand-painted dollar sign in its place. Eventually two more digits will be added, so we'll be free to increase our debt 100-fold!
     
  7. fivepoint macrumors 65816

    fivepoint

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    #7
    The "Family Share" of that debt this morning on CNN is around $86,000! WOW.
     
  8. mkrishnan Moderator emeritus

    mkrishnan

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    #8
    Dude, it was a right of passage back in the day to flip back to zero on Pac-Man. :D

    Remember when Clinton was in office and we were talking about a plan to eliminate the long term / non-revolving national debt?
     
  9. Schtumple macrumors 601

    Schtumple

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    #9
    Oh man that's seriously horrific, who is the USA in debt too? China still? I remember reading somewhere that China owned a scarily large amount of the USA's debt.
     
  10. Veldek macrumors 68000

    Veldek

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    #10
    That reminds me of a very old computer-game (I think it was on the C64) called "Mafia" where you could go to a casino, play Roulette and bet a negative value, which made you a rich man at once ;)

    And to try to keep this thread on topic: Germany is planning to have a balanced budget in 2011. Don't know if the financial crisis will change the time-table, but it's one of the highest priorities for the government and I think it's a good one.
     
  11. Queso macrumors G4

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    #11
    All over the place, but yeah recently BushCo have been signing up your kid's taxes to the Chinese so their friends can keep their share dividends now.

    It's an interesting one as to how the China/US debt link will play out. It does give China leverage over the USA, but at the same time would China risk upsetting the US if the latter could potentially turn round and default the debt as a result? If any other country tried to pull that the IMF would hit them hard, but could the US get away with it?
     
  12. BoyBach macrumors 68040

    BoyBach

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    #12

    If that was the case, would China send the bailiffs to repossess the USA? :eek:
     
  13. mkrishnan Moderator emeritus

    mkrishnan

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    #13
    This is from last year; at the time the debt was estimated at $8.5T USD.

    http://www.msnbc.msn.com/id/17424874/

    So unless things have changed dramatically, it isn't particularly true that any foreign government holds a terrifying amount of the debt. The problem as I understand it is mostly the rising cost of paying interest associated with the debt and how the magnitude of those payments compare to the operating budget of the country. Then we run into the same problem many people with 30 year mortgages who don't stay in one home for very long often do -- we're paying all interest and even when without defaulting on any loans, we can't avoid increasing our debt.
     
  14. abijnk macrumors 68040

    abijnk

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    #14
    I'm pretty sure China own the 'U' and the 'S', and Japan owns the 'A'.
     
  15. MacNut macrumors Core

    MacNut

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    #15
    There is a reason why all of our good are Made in China.
     
  16. fivepoint macrumors 65816

    fivepoint

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    #16
    You know what would solve this problem? More socialist entitlement programs and spreading our military even further across the globe. ;)
     
  17. Schtumple macrumors 601

    Schtumple

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    #17
    You should run for republican presidency, you'd totally get in :p
     
  18. fivepoint macrumors 65816

    fivepoint

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    #18
    Actually, that fits the democrats better. I agree that both support spreading the military, but the democrat is the party of socialistic entitlement programs. Either way, I don't think either party would like me much... I don't like to 'play nice and get a long', and I certainly wouldn't vote one way just to make a few in my party happy.
     
  19. Fuzzy14 macrumors 65816

    Fuzzy14

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    #19
    Well you've only got yourselves to blame, as we've just finished paying back all the money we owed you from WWII. You should have stuck it in a savings account! :rolleyes:
     
  20. Peterkro macrumors 68020

    Peterkro

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    #20
    Quite so I believe some Icelandic banks are offering very competitive rates for the larger tax avoiding client.
     
  21. .Andy macrumors 68030

    .Andy

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    #21
    What are these socialist entitlement programs exactly?
     
  22. TheAnswer macrumors 68030

    TheAnswer

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    #22
    Didn't you know:

    Democrats support "socialist entitlement programs" for the elderly, the disabled, and the economically oppressed.

    Republicans support "socialist entitlement programs" for arms dealers, dictators (or at least those that don't try and kill their daddies) and bankers.
     
  23. Peterkro macrumors 68020

    Peterkro

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    #23
    Moronic phrases like "socialistic entitlement programs" are used by those without coherent arguments or any knowledge of the actual facts being discussed to muddy the waters and frighten the ignorant,Communistic,Socialistic etc being very common, a complete lack of understanding of the beauty of simple language being another sign (Socialistic sounds as if it's been bolted together with scaffolding).But I'm guessing you know that already.:)
     
  24. fivepoint macrumors 65816

    fivepoint

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    #24
    Socialistic entitlement programs as in:

    • Me, working 55hrs. per week paying a THIRD of my hard-earned income towards taxes, so that some of that money can go to my perfectly healthy (physically and mentally) neighbor to get welfare supplement checks from the government and live for free, for doing NOTHING. Then, she adopts more and more kids so she can get an even larger check from the government, and now she drives a better car than me, and has a nicer TV than me. THAT kind of entitlement.
    • My dad, working his entire life paying towards social security just so the government can take the money HE puts in and give it to the "poor elderly" (my grandfather for example) who waste half of the money on gambling, only to realize that in 15 years when he retires... none of the money he put in will be there. And if his is there, his kids' money won't.
    • My parents working their entire lives and (meanwhile paying 1/3 of their income in taxes) so that they can pay for me to go to college, when my black roomate at college got to go for free, not because of his good grades and high test scores, but just because he's a minority!
    • Entitlement program as in every single time the government decides that THIS group of people deserves the money THIS group of people worked hard to make, for one reason or the other. They're ENTITLED to someone else's money. It's simple Robin Hood economics.

    You can blame a big part war/military spending on the republicans, not that the democrats offer much different, no question there... that we agree on... but in this time of financial crisis I find it laughable that democrats would be pointing fingers. These social programs are just great, until people start wondering who is going to pay for them! And when! And how much further in debt we're going to have to go before there's enough money.

    Not to mention that most entitlement programs fundamentally constitutional. But nobody really cares about that!

    For more information on where your taxes go, start here:
    http://www.wallstats.com/poster/
     
  25. Peterkro macrumors 68020

    Peterkro

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    #25
    fivepoint,I'm not entirely sure how to answer your scatterfire post but I'll give it a go. Have you actually spoken to your neighbour about her situation or are you just guessing, there are people who manipulate welfare systems but they are very few especially in the US,how about looking at tax evasion by corporations and the rich and see if maybe that's who's ripping you off. Have you wondered why you have to work 55 hours for a wage when the top few percent do absolutely nothing yet get massive incomes,ever wondered why working peoples wages have been static for thirty years yet the top few's income has gone up multiple times. Your outlook is typical of those who are working class but have fallen for the propaganda of the rich,instead of blaming the victims of the system,those on welfare,minorities and so on how about blaming the fat cats who are ripping all of the rest of us off. I hear this from working class people in the UK,NZ,OZ,France,US and on and on and it's shameful, don't be blaming black people for their treatment in the past blame those that profited and still profit from their enslavement. I'm hoping you agree that that lack of representation of black people in the US education,business etc sectors and their over representation in the prison system is because of their repression and not as the racialists would have it that they are inherently lazier or stupider than white americans.Look around you and see just who it is that is ripping you off.
     

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