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297 Comments
- RebornInFlames, on 05/02/2009, -14/+96We need to pay off our debt, end of story. There is a reason it's called 'leverage,' and China has a ***** on us. No one will do anything about this, not Obama, not his successor. We prefer the ostrich method. If we don't pay down our debt, we will be *****.
- judicar, on 05/02/2009, -13/+89Fact: 90% of the following commenters will have no ***** clue what they are talking about.
fact - TheFounder, on 05/02/2009, -9/+68If you were China, would you raise our "credit limit"... We are starting to look like the friend that always asks for money ... you know that guy.. never has gas money..... the guy that skimps out when eating out... "I only got a 5" when his fair share is 12 ...
- norman619, on 05/02/2009, -10/+55I never thought I'd be saying this, but good for China! Too bad it was China and not our own elected government officials that decided to try and put a stop to the out of control spending.
- deathyepl, on 05/02/2009, -2/+40Don't forget the war trillion and the oil addiction trillion... both sides spend like it doesn't matter, don't pretend it's an issue exclusively to one side or the other. Fiscal responsibility as a tenet of the Republican party has not been true for many many years, which is a shame - it was where my interest in the Republican Party came from.
Now, I hate them both, because to point the finger at one side or the other and say "It's THEIR fault" denies the reality of the situation - it is the fault of our entire political system, and the inherent corruption that comes from the level of power that these ***** enjoy. - LouisCipher777, on 05/02/2009, -7/+40America really needs to have it's credit cards cut in half, forcing it to live within its means. If I can live within my means, why is it so hard for everyone else? (fyi I make $40k / year and have $0 in outstanding credit card debt, and a mortgage I can afford)
The central government, and a lot of people in this country, would do well to learn not to spend money you don't have. - spritom, on 05/02/2009, -20/+53...but...but...we still need to borrow the health care trillion and the green trillion.
/s - Richandler, on 05/02/2009, -11/+39Yeah, the mass inflation and retail crisis are next. Followed by the second housing crisis and the next round of banking failures. I'm not kidding either. People though if we just did what they did when we had 10 years of depression we'd be fine. Never even considering, in fact proclaiming absurd, that maybe just maybe, massive government spending and debt was just as bad as personal massive debt except for the fact that it affects 300 million people instead of just one.
- Rudegar, on 05/02/2009, -1/+29all the dates from your site are top 2007
not that good when 2007 were pre financial meltdown - Kalluas, on 05/02/2009, -11/+37Hate to break it to you but we are in a recession. The LAST thing we should do is cut spending raise taxes and pay down debt. Do have any idea how many people are employed by the government? Do you think firing them to save money is a good idea right now? Do think cutting unemployment benefits and food stamps so everyone will starve is "awesome" idea?
The problem is the previous eight years when the "fiscally conservative party" blew more money than a banker on hookers and coke and left a huge deficit right before a big recession.
Is a huge deficit bad? Yes. We will have to reduce it eventually? Yes. But not right now and everyone who has an irrational fear of zeroes is just going to have to deal. - bagelmaster, on 05/02/2009, -2/+26And if you claim to not know that guy, you are that guy.
- inactive, on 05/02/2009, -9/+33It's about to hit the fan.
- capodeltutto, on 05/02/2009, -4/+27People are misunderstanding/overreacting-to this news.
This is NOT "canceling a credit card." Read the article. It says they are **decreasing purchases of Treasuries** (not the same as stopping all together) and it's probably because they want to invest that money within their own country.
It says more about their positive feelings for their own economy than negative feelings about ours. - LouisCipher777, on 05/02/2009, -5/+27that would be good.... if they could get the normal speed one working right.
- xxacefirexx, on 05/02/2009, -18/+40We are so *****.
- T440, on 05/02/2009, -5/+25If China stops letting us borrow money, how are we gonna buy all of their exported products?
- markomalley, on 05/02/2009, -9/+27I hear the fat lady warming up
- osabr22000, on 05/02/2009, -1/+16So true. The worst thing is, in a recent poll almost half of all Americans felt their "new found thrift" would only be temporary. They don't realize, living within your means, which is what they are actually doing, is not thrifty... and not doing that is one of the biggest reasons this whole mess happened. When the Great Depression hit, almost all Americans felt a personal sense of failure and responsibility. Now, all Americans blame Wall Street, or the Dems, or the Republicans. Nobody is holding themselves accountable in this country and it's pathetic. If our current spending habits continue, America will not hold any assets and Americans will become serfs for foreigners who DO hold them.
- Bartboy919, on 05/02/2009, -9/+23http://clinton3.nara.gov/WH/Work/102899.html
:(
I miss the 90's. - Khast, on 05/02/2009, -4/+18We need our credit line severed. Our out of control spending will only dig us deeper in debt. Only problem, it wasn't us who decided this. The US leaders should be ashamed of how they let this get out of hand. (Not pointing fingers at any individual president, every president since Kennedy maybe even earlier than that, has has had their hands in the proverbial cookie jar.)
Well, it was nice while it lasted. Enjoy your money while it still has value. - mcsenget, on 05/02/2009, -4/+17Now instead of borrowing we can inflate! yay!!
hyper-inflation, here we come! Choo-choo!
I guess that's what happens when you spend over budget every single year plus a few wars on top? Oh well. - osabr22000, on 05/02/2009, -2/+15We won't, they can consumer their products themselves. They don't need us for consumption.
- frygar, on 05/02/2009, -1/+14***** Dubai.
- bagelmaster, on 05/02/2009, -2/+15Conspiracy theories make you smart durrrr. Why is there ALWAYS a ***** conspiracy theory to even the most concrete facts. Always.
- steelreserve211, on 05/02/2009, -2/+15Hey China, we really did send the last payment. What? You didn't get it? We sent the minimum.
- lead2thehead, on 05/02/2009, -4/+16Good. Maybe this will motivate congress to balance the f*cking budget and learn how to manage money.
- pr0carbine, on 05/02/2009, -3/+15I submitted something from AP once, the only comment was "buried for AP." Congrats on the great success.
- robertisaar, on 05/02/2009, -2/+13US isn't the only place for quality stuff, but i have not seen anything from china that i would call high quality.
a lot of the european countries take pride in their work and produce something, although more expensive, is very nice/durable - yaosio, on 05/02/2009, -2/+12Thanks for voting Bush.
- inactive, on 05/02/2009, -9/+19你们会说普通话吗？ It's called "GOLD"!! bitches!!!
- pak314, on 05/02/2009, -9/+19Look at the per capita external debt by country. The United States is not that bad in comparison. By absolute amounts we are #1 but they we have lots of people.
http://www.nationmaster.com/red/graph/eco_deb_ext_ ...
# 1 Ireland: $448,031.51 per capita
# 2 Switzerland: $177,373.94 per capita
# 3 United Kingdom: $171,942.20 per capita
# 4 Netherlands: $137,411.94 per capita
# 5 Belgium: $126,344.44 per capita
# 6 Norway: $101,362.90 per capita
# 7 Austria: $91,770.72 per capita
# 8 Denmark: $90,085.81 per capita
# 9 Hong Kong: $84,235.72 per capita
# 10 Sweden: $66,130.66 per capita
# 11 France: $56,702.84 per capita
# 12 Germany: $54,477.50 per capita
# 13 Finland: $51,770.94 per capita
# 14 United States: $40,678.76 per capita - deity, on 05/03/2009, -3/+12That debt doesn't include unfunded social programs. We are in far worse shape than this indicates.
- PhillyMJS, on 05/02/2009, -9/+17Obligatory Simpsons reference:
Chinese Guy: You pay now! Now!
Bart: What happened to you, China? You used to be cool..
Chinese Guy: Hey China's still cool! You pay later! Later! - randumbusername, on 05/03/2009, -1/+9there are other countries besides the united states.
- inactive, on 05/03/2009, -0/+8It doesn't matter what China's second strike capability is. Sending a nuclear attack against anyyone is pretty much declaring war on the rest of the world. If the US nuked China they'd have to be prepared to be nuked by Russia and France... and probably the UK as well.
These days, launching a nuke is pretty much a suicide mission. - Risingashes, on 05/03/2009, -0/+8The problem is massive spending during boom periods.
When the economy is good government should be running massive surpluses in preparation for downturns.
America is in a deep hole filling with water due to massive mismanagement. Unfortunately the only way to get out is to dig deeper. The alternative is to drown. - AndersenWatcher, on 05/02/2009, -5/+12Ron Paul! Jekyl Island! Bacon!
- TecHeavy, on 05/02/2009, -6/+13Pay down our debt with what...our gov has no money, and we don't manufacture anything that creates wealth. "We are so *****" just like xxacefirexx expressed.
- inactive, on 05/02/2009, -2/+9To be more accurate, China has raised the interest rates on US credit card. Supply and demand is a simple concept that once again has proven too complicated for the politicians in congress to understand
- Jdean0012, on 05/02/2009, -0/+7Obama and his cabinet have estimated they can get the annual budget deficit down to 550 billion dollars per year, by the END of his first term. This figure is the benchmark, not the actuality of the situation. Did he inherit a massive ***** created by Bush? You bet your ass. But the problem, is our national debt has surpassed 10 trillion dollars, and it is only increasing every year. It's been estimated that due to hyperinflation, China's investments in the united states will actually have THEM paying us, for the money we borrowed. It's great for the United States, however there's no question in my mind as to why China has cut us off. Obama wants to cut the fat, which is an excellent decision, but we have too high of hopes (Highspeed rail, Oil independence, etc.) for the budget. And a pointless war totaling over $700 billion does not help in the least bit.
BTW, does anyone want to tell me why we still have 50,000 military troops in Germany? - regression, on 05/03/2009, -1/+8some quick math...
current debt~11000000000000000
current populatioin~300000000
debt per capita~ 37k
where is my math wrong? because i feel like it should be more. - craftyguy, on 05/03/2009, -0/+7Don't forget about the bailout trillion(s)!!!
Supported by Republicans AND Democrats!!! - mcsenget, on 05/02/2009, -0/+6lol? pun intended, i assume?
- TexMexRex, on 05/02/2009, -3/+9Generation Y will save us through BLOGing.
- inactive, on 05/02/2009, -8/+14They're too busy groping after free ***** from the government that was taken from other, more hardworking Americans.
- scamper22, on 05/03/2009, -1/+7I see someone lacks any understanding of trade.
Let me explain it to you in simple terms.
China makes products. They sell it to America for money. This money represents value that China can then use to purchase other items.
Now what use is selling things to America if it's all based on money China lends the US and the US has no intention of paying it back?
If that doesn't help... how's this.
Suppose there is a store that also has its own credit card. So you get a credit card from the store and use it to buy items from the store. But you don't payoff your credit card. Is it in the stores best interest, to keep lending you money on the credit card just so you can keep buying items from the store?
China would be better off if it just sold its own products back to its own citizens. At least they would then get to keep the benefit of their products. - cogitocogito, on 05/02/2009, -1/+7bobburn1: why'd you chose 10 years and not 20 or 30? If you look at longer time horizons stocks have vastly outpaced gold. Also, gold has always had a lot of short term volitility - moreso than stocks.
- tgc1, on 05/03/2009, -0/+6It has tripled in value since I thought I should invest in it. So I don't want to hear this *****. If I bought into gold back in 2000'ish and cashed out in 2008 I would have tripled my money easily. But i'm not rich, and gold is ***** expensive to begin with.
- Mothrog, on 05/03/2009, -0/+6Neither. You can't spend worthless money, and you can't eat gold.
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