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Total US Debt: BIG PICTURE - $48 TRILLION IN DEBT
mwhodges.home.att.net — Stated differently, in 1957 there was $1.86 in debt for each dollar of national income, but today there is $4.42 of debt for each dollar of national income. It also means that this extra $2.56 per dollar of debt produced zilch income. Today's economy has more than double the debt load in relation to economy size, as was the 1957 economy.
VikingoTJ- 49 diggs
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- VikingoTJ, on 02/28/2008, -2/+9This doesn't take into consideration the Social Security and Medicare shortfalls. Naysayers will tell you that US debt is insignificant, but the huge fiscal problem that is about to rock this country is becoming more evident by the day.
- esmartcredit, on 02/28/2008, -3/+8And after the new president is elected... more money will be borrowed to full-fill his promises, health-care, social plans, etc. The only candidate who talk about this is Ron Paul and he already lost... I guess we Americans will never learn to live on a budget.
- VikingoTJ, on 02/28/2008, -2/+7BTW $10.3 trillion of that is owed to foreign entities, so the argument that "we owe it to ourselves" doesn't wash.
- stripar144, on 02/28/2008, -2/+6and we can expect domino effect
- VikingoTJ, on 02/28/2008, -2/+5A lot of the crisis that we normally expect to see from third world nations will end up hitting the United States. The debt load is just too great.
- rilla825, on 02/28/2008, -2/+6It is so sad that so many people don't want to listen to the truth. There it is staring them in the face and they just don't see it. Research the candidates until you know their history as well as your own. Do not let it be said that you did nothing.
- jasqwerty, on 02/28/2008, -5/+3LOL, ***** math is *****...
Yes, let's sum total every single possible thing that can be classified even remotely as debt without pondering the cross correlations and implications and get a stupidly unrealistic and meaningless number.
Let's say you have 3 friends, call them A,B, and C. On Monday, person A & B go out to lunch, B covers the bill, and A is in debt to B for $5. On Tuesday, person B & C go out to lunch, C covers the bill, and B is in debt to C for $5. Then on Wednesday, person C & A go out to lunch, a covers the bill, and C is in debt to A for $5.
Using the above example, and this ***** math, these three individuals are $15 in debt. Using reasonable math and logic, there is no debt here.
LOL @ rontard scaremongering, go back to crying in your corner losers.
http://www.ronpaulforums.com/showthread.php?t=1248 ...- VikingoTJ, on 02/28/2008, -1/+4Uh no. This is referring to outstanding debt. Let me explain it for you dumbass. Person 1 goes out to lunch and puts $50 on his credit card to cover the group of 3. Next week person 2 goes out and places $40 on his credit card to purchase a new outfit. Two days later person 3 takes out a small loan of 300 dollars.
They are all in the same family. The total debt load for the family has gone up by $390 in 9 days.
Now lets take a look at what those figures were covering:
Municipal bonds, Federal debt, State debt, consumer and business debt, etc. They are all distinct and add up to a total debt burden for the nation as a whole. The federal government doesn't go and pay off a municipal bond.
jasqwerty,
You wrote the stupidest thing I have seen in a while.- jasqwerty, on 03/01/2008, -1/+2>>Let me explain it for you dumbass.
No, let me it explain it to you. You're a ***** ***** who doesn't have enough brain cells to understand the circular nature of economics, and was unable to extrapolate my 3 unit example to a multi-unit economy. This comes as no surprise to me seeing as you're a rabid rontard.
>>The total debt load for the family has gone up by $390 in 9 days.
And then the restaurant they went to decides to purchase more chickens. To deliver the chickens, a farmer needs to gas up his truck. That farmer goes to his local gas station and buys gas, and that station is owned by the family who paid for the meal, who then use that money to pay off the restaurant bill, which is used to pay off the chicken farmer, which is used to pay off the family's gas station. Dum de dum...
This debt isn't owed to some distinct and economically disjoint and isolated entity. In fact, it's impossible for such an entity to exist. This would be an amazing problem if such an entity existed. If this debt was owed to some sort of entity, say Lord Xenu, who simply sat on his moon base collecting debt repayments, and then would never ever spend any of that money again, or cover debts himself. That is not the case here. Debt is cyclic and circular. It's rarely as simple as my 3 person example, but if you made a digraph out of all debt flows, you would see you wind up paying yourself.
>>You wrote the stupidest thing I have seen in a while.
This perfectly describes every single post I read of yours.
- jasqwerty, on 03/01/2008, -1/+2>>Let me explain it for you dumbass.
- VikingoTJ, on 02/28/2008, -1/+4Uh no. This is referring to outstanding debt. Let me explain it for you dumbass. Person 1 goes out to lunch and puts $50 on his credit card to cover the group of 3. Next week person 2 goes out and places $40 on his credit card to purchase a new outfit. Two days later person 3 takes out a small loan of 300 dollars.
- VikingoTJ, on 02/28/2008, -1/+2Uh no. This is referring to outstanding debt. Let me explain it for you dumbass. Person 1 goes out to lunch and puts $50 on his credit card to cover the group of 3. Next week person 2 goes out and places $40 on his credit card to purchase a new outfit. Two days later person 3 takes out a small loan of 300 dollars.
They are all in the same family. The total debt load for the family has gone up by $390 in 9 days.
Now lets take a look at what those figures were covering:
Municipal bonds, Federal debt, State debt, consumer and business debt, etc. They are all distinct and add up to a total debt burden for the nation as a whole. The federal government doesn't go and pay off a municipal bond.
jasqwerty,
You wrote the stupidest thing I have seen in a while. - VikingoTJ, on 02/28/2008, -1/+3Jasqwerty,
Also keep in mind that the federal government, state governments, consumers, businesses, and municipal and county governments rack up debt independently. It is not like they are paying each other for lunches. One way or another those loans have to be repaid. - MaryWise, on 03/01/2008, -0/+1More Debt!! Nooooo...
- jasqwerty, on 03/01/2008, -1/+1>>Let me explain it for you dumbass.
No, let me it explain it to you. You're a ***** ***** who doesn't have enough brain cells to understand the circular nature of economics, and was unable to extrapolate my 3 unit example to a multi-unit economy. This comes as no surprise to me seeing as you're a rabid rontard.
>>The total debt load for the family has gone up by $390 in 9 days.
And then the restaurant they went to decides to purchase more chickens. To deliver the chickens, a farmer needs to gas up his truck. That farmer goes to his local gas station and buys gas, and that station is owned by the family who paid for the meal, who then use that money to pay off the restaurant bill, which is used to pay off the chicken farmer, which is used to pay off the family's gas station. Dum de dum...
This debt isn't owed to some distinct and economically disjoint and isolated entity. In fact, it's impossible for such an entity to exist. This would be an amazing problem if such an entity existed. If this debt was owed to some sort of entity, say Lord Xenu, who simply sat on his moon base collecting debt repayments, and then would never ever spend any of that money again, or cover debts himself. That is not the case here. Debt is cyclic and circular. It's rarely as simple as my 3 person example, but if you made a digraph out of all debt flows, you would see you wind up paying yourself.
>>You wrote the stupidest thing I have seen in a while.
This perfectly describes every single post I read of yours.- VikingoTJ, on 03/02/2008, -0/+1Jasqwerty,
LOL Yes I understand this perfectly, but debt loads on all levels have increased constantly and at a rapid pace over the last couple of decades. It would only take a retard such as yourself to ignore the fact that a growing debt bubble has to eventually collapse....just like what happened with the housing market.
THAT is the cyclic nature of out of control debt. And yes, that debt is owed to a large variety of entities, but that doesn't make it a positive thing either.
Take a look at what happen to Mexico's cyclic and circular debt. :) So people, if you are a dumbass...Listen to Jasqwerty and believe that a large debt load owed to various entities is never a bad thing.
- VikingoTJ, on 03/02/2008, -0/+1Jasqwerty,
- VikingoTJ, on 03/02/2008, -0/+2Jasqwerty,
LOL Yes I understand this perfectly, but debt loads on all levels have increased constantly and at a rapid pace over the last couple of decades. It would only take a retard such as yourself to ignore the fact that a growing debt bubble has to eventually collapse....just like what happened with the housing market.
THAT is the cyclical nature of out of control debt. And yes, that debt is owed to a large variety of entities, but that doesn't make it a positive thing either.
Take a look at what happen to Mexico's cyclic and circular debt. :) So people, if you are a dumbass...Listen to Jasqwerty and believe that a large debt load owed to various entities is never a bad thing. - ennTOXX, on 03/03/2008, -0/+1Wow and that's just the tip of the iceberg... :||
- kemp34, on 05/09/2008, -0/+1When debt is defaulted on, lenders' "wealth" is wiped out.
- AlwaysAwake, on 05/09/2008, -0/+1The bankers are highly amused when we fight with each other, and call one another names, and play with the math.Their Money As Debt, worthless fiat paper currency is the problem. But we all keep buying into the "more happiness" bubble, which is bursting right now as we quarrel with each other here. But, be not afraid for them. Food shortages and World War III are their latest strategy, also happening now to cure it, by financing all sides, creating a new debt bubble to print some more "funny" money
- brad3378, on 09/16/2008, -0/+1Looks like this website needs to be updated for the Fannie Mae / Freddie Mac collapse.
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