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Thread: U.S. National Debt Clock

  1. #1
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    U.S. National Debt Clock

    [IMG]http://www.brillig.com/debt_clock/debtiv.gif[/IMG]

    This is the second most important issue facing the USA.

    Are any presidential candidates talking about it?


    [URL=http://]http://www.brillig.com/debt_clock/[/URL]

  2. #2
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    No, becasue neither party wants to cut spending anymore...

  3. #3
    [QUOTE=Piper]No, becasue neither party wants to cut spending anymore...[/QUOTE]


    Why cut spending when you can have the fed print more dollars? C'mon Piper

  4. #4
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    [QUOTE=Piper]No, becasue neither party wants to cut spending anymore...[/QUOTE]


    or raise taxes


    8.838 trillion dollars would be 126 billion Jets tickets

  5. #5
    How about buying american made! Give incentives to corporations to higher americans.

  6. #6
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    [QUOTE=Buster][IMG]http://www.brillig.com/debt_clock/debtiv.gif[/IMG]

    This is the second most important issue facing the USA.

    Are any presidential candidates talking about it?


    [URL=http://]http://www.brillig.com/debt_clock/[/URL][/QUOTE]

    Not as big of a deal as the media makes it out to be....The debt does nothing but fund our investment. U.S. Investment was $20 Trill last year.

  7. #7
    [QUOTE=TerryBadway]Not as big of a deal as the media makes it out to be....The debt does nothing but fund our investment. U.S. Investment was $20 Trill last year.[/QUOTE]
    it matters when a higher and higher percentage of the budget makes up interest payments which are essentially flushing money down the rathole. Also, it gives the gov't incentive to devalue the currency.

  8. #8
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    Badway is pretty much correct here. Its not as big as a deal as people are making it out to be. Part of the reason we have so much debt is because it is so much in demand, despite it being a terrible investment. What we fail to realize is the US is one of the only safe investments. Many countries financial systems are mature and carry substantial risk, some countries outright renege on paying debt and some countries, notably Russia and more recently Venezuela, just take private wealth. Despite what is most likely a negative real return, it is a safe haven and an attractive investment for many investors. I generally don't like using "this time its different" arguments, but the % of GDP argument really is quite different than in the past. First, the interest levels are absurdly low. We are talking 1/3 to 1/5 of what they were, so we can afford higher levels of debt as a % of GDP. Also. with the Global integration, one of our biggest advantages on the Global stage is the maturity of our financial system

    The US makes out great also. We are essentially can borrow for free, maybe even cheaper than that if you think inflation is higher than what is currently reported. The real question we should be asking is if we are using the funds efficiently. Are we getting any incremental value from borrowing the funds?

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    Maybe Shakin, Jets5, Fish, or Bit can help me with this one, but I remember Reagan giving a speech at the 92 convention and proposing a Constitutional Amendment requiring a balanced budget each fiscal year. Aside from the politicans who just want to spend spend spend, why else wouldn't something like this have passed? It seems like a perfect example of practicing responsible govt., of course our current govt. is anything but.

  10. #10
    [QUOTE=Mavrik]Maybe Shakin, Jets5, Fish, or Bit can help me with this one, but I remember Reagan giving a speech at the 92 convention and proposing a Constitutional Amendment requiring a balanced budget each fiscal year. Aside from the politicans who just want to spend spend spend, why else wouldn't something like this have passed? It seems like a perfect example of practicing responsible govt., of course our current govt. is anything but.[/QUOTE]
    Yes Reagan frequently touted the Balanced Budget Amendment as a way of deflecting criticism of the deficit that was growing under his guidance. This was just complete political posturing. The Democrats would complain that this was a bad idea and then Reagan could say you see don't blame me for the deficit I want a balanced budget.

    A Balanced Budget Amendment is a terrible idea because there are times when a govt. HAS to run a deficit such as during war time or to fight through a depression. To deprive the govt the ability to have deficit spending is just plain stupid and Reagan knew it.

  11. #11
    [QUOTE=Queens Jet Fan]Yes Reagan frequently touted the Balanced Budget Amendment as a way of deflecting criticism of the deficit that was growing under his guidance. This was just complete political posturing. The Democrats would complain that this was a bad idea and then Reagan could say you see don't blame me for the deficit I want a balanced budget.

    A Balanced Budget Amendment is a terrible idea because there are times when a govt. HAS to run a deficit such as during war time or to fight through a depression. To deprive the govt the ability to have deficit spending is just plain stupid and Reagan knew it.[/QUOTE]
    That's why this deficit is bad. We are living through very good economic times and with great tax revenues and yet the beast still isn't satisfied. If we can't balance it now, when can we?

    If we have a severe recession or depression - we may not be able to spend more/borrow more because our economy will inspire much less confidence to outside investors.

  12. #12
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    [QUOTE=Mavrik]...why else wouldn't something like this have passed? It seems like a perfect example of practicing responsible govt...[/QUOTE]


    [IMG]http://static.flickr.com/54/117398790_a6970dd0cc_m.jpg[/IMG]

    Oink oink, mother******!

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