Record $14 trillion-plus debt weighs on Congress

[Master Roshi]

absolutely agree/ and when China says 'no' to our bonds - which they will -- fuck me! the abyss !!!:eek:

lol yeah its amazing that China actually owns around 90 percent of our debt, they pretty much own the US, a communist country, its unbelievable, but most americans walking around don't understand this unfortunately, that's why abolishing the federal reserve is key to getting out from under this grasp

 

[Harvath01]

Most americans don't WANT to know about the national debt, the fact that china owns most of it. They want to know what Lady Gaga wore last night, and how many times Snooki hooked up last weekend.

 

[Master Roshi]

Most americans don't WANT to know about the national debt, the fact that china owns most of it. They want to know what Lady Gaga wore last night, and how many times Snooki hooked up last weekend.

lol this is exactly what I have been typing on the freeones forum but when I do many members here attack me for it which I could honesty care less about, I like the fact of exchanging ideas and knowledge whether it is in agreement or disagreement, I enjoy all my entertainment just as much as the next person but I also know that our country has some serious infrastructure problems going on and I know that we will not be able to enjoy all this entertainment as it currently is into the future if these problems continue to go unchecked and uncorrected

 

[Rey C.]

lol yeah its amazing that China actually owns around 90 percent of our debt, they pretty much own the US, a communist country, its unbelievable, but most americans walking around don't understand this unfortunately, that's why abolishing the federal reserve is key to getting out from under this grasp

Why is it that people think it's cute just to make up numbers, attach a "%" sign to the end and that makes a lie more believable?

Look, total U.S. debt in the hands of foreigners amounts to about 28% of the total. Of that, China, at $846 billion, owns slightly more than Japan, at $821 billion. China and Japan together own about 45% of the 28% of U.S. debt that foreigners own.

I know this is a porn board, and not a macroeconomics class. But good grief, is it really necessary to just totally pull shit out of thin air?

Ownership of U.S. Federal Securities

The U.S. has a serious debt and deficit problem. That goes without saying. But it's not as if the Eurozone is without problems either. So it's a fallacy (IMO) to believe that with Spain, Greece, Portugal and Ireland swirling around the top of the toilet bowl, the major world players would totally dump the dollar to buy the Euro (as a reserve currency), when a growing percentage of the Euro countries have debt levels that are even greater than that of the U.S. (deficit vs. GDP)? But I think they will balance it out more.

Now... I'm going to have myself some pie! Who wants some?

 

[vodkazvictim]

It should weigh on the bastards... they spent it!

It should. But it won't.

huh...and I thought bush was bad with the budget thing...

W got it there. it's hard to get out. That's one reason why things are getting worse.

turns out when our companies rape us and cause an economic collapse the best thing to do is give them money to fix our problems...whoops

Don't mock; they won't know we're angry at them if we don't give them a tough lesson by throwing money at them

I want a refund on my $45,300 in that case, because I know I can spend much wiser than they have - lol

^^This.

Guess that 'danged fence' soon will have to keep the people from the USA running to the south states :1orglaugh

It will learn people to stop thinking about healthcare and social security which are more drawbacks than advantages. You can definitely thank your marketing hyped "godsaver" Daddy O for "fixing and embettering" the economy.

:georges:

True.


I was chronically ill for a number of years and couldn't work. It was awful getting financial and medical assistance from the state to help pay the bills and effectively keep me from ending up on the street or in a pine box. Just awful.

There's a reason he has his own smiley.

Us citizens are looking more and more like we are going up shit creek without a paddle while the politicians are getting richer by the year, passing bills to help the corporations paying them under the table and giving themselves raises each year above the rate of inflation!
The system is fucked but unfortunatly its the best one out there! Can't rely on Social Security when we retire people, better start preparing now!

Yeah. The suffering of the many is worth it for the unnecessary benefit of the few tho, right?

lol yeah its amazing that China actually owns around 90 percent of our debt, they pretty much own the US, a communist country, its unbelievable, but most americans walking around don't understand this unfortunately, that's why abolishing the federal reserve is key to getting out from under this grasp

China is Communist in name only.

Most americans don't WANT to know about the national debt, the fact that china owns most of it. They want to know what Lady Gaga wore last night, and how many times Snooki hooked up last weekend.

True.
Same for the UK too. Sad, no?

 

[Bearded_Menace]

We are DOOMED!


OH GOD! I gotta get out of here! Canada, Make room for the Bearded One!

 

[Rivers]

We should just burn down the country for the insurance money. Either that or...

 

[Master Roshi]

ready for some more bad news about the dollar

http://www.infowars.com/chinese-yuan-a-new-world-reserve-currency-2/

 

[D-rock]

The joke will be on everybody else when they find out we never are going to pay it back. We're like the bum friend that has mooched off of people he lives with for free and after years they actually still take him seriously when he says he will pay them back in the future.

 

[Frank Fire]

The joke will be on everybody else when they find out we never are going to pay it back. We're like the bum friend that has mooched off of people he lives with for free and after years they actually still take him seriously when he says he will pay them back in the future.

so ture it will never be paid off and if it is we will never see it

 

[placenta]

Don't worry; our "friends" at the IMF will step in and bail us out!!!

they will issue (say) one Amero for every $100... (thus stealing even MORE of your wealth); the new currency will stabilize our economy... The President will explain that this is a great day for us all... Our national debt problem will be "solved" (YEA RIGHT) Blah Blah Blah...

But as said earlier in this thread- The majority of us won't even know what is going on/care; We will be more interested in the Kardashian's new reality show or the state of the Situations abs... HuH Huh Huh... (de-evolution/idocracy by design).

 

[peterthebeater]

We would have had a surplus if we would have kept Clinton's budget.

 

[Master Roshi]

We would have had a surplus if we would have kept Clinton's budget.

uuuuuuuuuhhh no not at all, we would still have a major deficit

 

[Rey C.]

We would have had a surplus if we would have kept Clinton's budget.

Possibly. At least it would be more likely. It's hard to say, since other areas that contribute to the deficit were still expanding, like the trade imbalance. And since all economies run in cycles, we would have had a recession sooner or later no matter what. That always hits the revenue side (and usually pushes governments into deficit fiscal policy), since businesses (and individuals) won't pay as much in taxes if they're not taking in as much revenue themselves. But let's say it was more of a "normal" recession, instead of the near depression that we had. Then, yeah, maybe we could have run a smaller deficit for a year or two and then returned to running surpluses.

The truth is, we went from being the biggest creditor nation to the biggest debtor nation under Reagan. There were a lot of things that Clinton did that I didn't agree with (namely NAFTA... which is something that was also embraced by most of the faux "fiscal conservatives" that are still hanging around D.C.). But Clinton was probably the closest thing to an ACTUAL fiscal conservative that we've had in my lifetime. W. Bush and his gang of free spending neocons blew out the budget, mainly on military adventures and a shell game involving Medicare. Obama is spending good dollars after bad in some cases. And we're already seeing that the new crop of "fiscal conservatives" has no problems blowing out the budget, as long as it supports their base. I call "bullshit" on all of them.

But even if these numbskulls could get it together, at a surplus of $500 billion a year, it would take roughly 28 years to pay off the debt... and that's assuming a 0% interest rate on that debt. :eek:

 

[Master Roshi]

I am curious though, how are we going to pay for lap dances once the dollar is done, will we be putting ameros into the g-strings of the sexy honeys?

 

[Master Roshi]

actually here is a better breakdown of our financial destruction

Consumer credit outstanding: $2.4 trillion
Mortgage debt outstanding: $10.6 trillion
Federal debt outstanding: $14 trillion
Commercial/multifamily mortgage debt outstanding: $3.2 trillion
Municipal bonds outstanding: $2.8 trillion
Corporate debt(non-financial companies) outstanding: $7.4 trillion
Public pension underfunding: $2.5 trillion
Infrastructure investment needed: $2.2 trillion
U.S. fiscal gap: $202 trillion

 

[bustybbwlover]

the most fucked up thing about having to bail out the companies that were fucking everything up is that it was the best option at the time....it was that or a larger cascading failure...turns out businesses operate in a manner which is most profitable...rather than the most logical long term

 

[pool_hustler]

Why is it that people think it's cute just to make up numbers, attach a "%" sign to the end and that makes a lie more believable?

Look, total U.S. debt in the hands of foreigners amounts to about 28% of the total. Of that, China, at $846 billion, owns slightly more than Japan, at $821 billion. China and Japan together own about 45% of the 28% of U.S. debt that foreigners own.

I know this is a porn board, and not a macroeconomics class. But good grief, is it really necessary to just totally pull shit out of thin air?

Ownership of U.S. Federal Securities

The U.S. has a serious debt and deficit problem. That goes without saying. But it's not as if the Eurozone is without problems either. So it's a fallacy (IMO) to believe that with Spain, Greece, Portugal and Ireland swirling around the top of the toilet bowl, the major world players would totally dump the dollar to buy the Euro (as a reserve currency), when a growing percentage of the Euro countries have debt levels that are even greater than that of the U.S. (deficit vs. GDP)? But I think they will balance it out more.

An excellent, rational, factual post. Thank you :hatsoff:
China owns 90% of our debt?
Where do people come up with this crappola?

The truth is, we went from being the biggest creditor nation to the biggest debtor nation under Reagan.

Bingo!
The Conservative Messiah, of all people.
My guess is about 95% of those who worship Reagan have no knowledge of this fact.

 

[Bloodshot Scott]

Greed is an incredible thing. I believe it was O'Reilly who pointed out a statistic about how much the gap between the haves and have-nots has changed since our eonomy was flourishing back in the 40s and 50s and the percentage was stagering. I'm all for making good money, but these figures seem out of place. Americans seemed to be working together so much more back in those times. I can't find that source, but this quote is interesting:

The gap between the wealthiest Americans and middle- and working-class Americans has more than tripled in the past three decades, according to a June 25 report by the Center on Budget and Policy Priorities.

New data show that the gaps in after-tax income between the richest 1 percent of Americans and the middle and poorest parts of the population in 2007 was the highest it's been in 80 years, while the share of income going to the middle one-fifth of Americans shrank to its lowest level ever.

Hell, one thing about life is it can always get worse.

We are DOOMED!

OH GOD! I gotta get out of here! Canada, Make room for the Bearded One!

That's where I'm heading, to the annoyance of pretty much every Canuck on this forum. But be ready for some of the most wicked winters you will ever experience.

 

[saschaxx]

Fact is : the USA is ( financially ) DEAD .

They just don´t ( want ) to know it .

One of the big probs is / was ( besides azzholes like Madoff + Co ) : EVERYONE was living on his credit-card , one more, one less.
They´re closer to 70 trillions debt but 14 ( official ) .
Looks to me like the Chinese will present the bill after a while . :angels::angels: