how much money the government owes

[DnB_racing]

if you take brand new 100 dollar bills, and stack them up 10 thousand dollars will equal a mesesally 1/2 inch high,

100 thousand will equal about a small 5 inches,

now a million will be a whole 50 inch high stack of crisp 100 dollar bills ..nice!!!!

now what the government owes!!

take those new bills and stack them 10 feet high,

now here's the fun part

FILL a football field with stacks of brand new 100 dollar bills 10 feet high, and you have the national debt

[jesshamner]

Here is an interesting table from the CIA showing the account balances of the 191 recognized countries of the world.

https://www.cia.gov/library/publications/the-world-factbook/rankorder/2187rank.html

[DnB_racing]

if you were able to stack brand new 100 dollar bills the national debt it would be a stack(not end to end) 132,575 milres high, more then half way to the moon

[quad2xtreme]

oh yes, but wouldn't you rather live in grand style now and leave future generations to cover the debt later? I say screw em'. Let's live for the here and now! ;)

[DnB_racing]

if you took stacks of $10,000,end to end you could circle the earth almost 5 and 1/2 times, that's how much debt the nation is in

[HondaPohl]

Next election, vote to get this dousche out of office!!!!

[DnB_racing]

it was Bush that put us in debt!! this JA now just doesnt know how to handle it.. Bush raised the debt by a record 72%

[SRH]

Originally posted by DnB_racing
it was Bush that put us in debt!! this JA now just doesnt know how to handle it.. Bush raised the debt by a record 72%

lol i had a bad day today...**** that obama its prob his fault

[DnB_racing]

Originally posted by SRH
lol i had a bad day today...**** that obama its prob his fault as much as I hate Obama, and would love to pin this problem on him, It wasnt all his fault, good ole G.W.really fuc*ed us

[quad2xtreme]

yea, current problems have little to nothing to do with Obama. When a family is so far in debt, there is often no way out but bankruptcy...which won't work for a country. We keep falling for the "borrow to grow the economy BS" but in reality the government has never really successfully "invested" in anything. The idea of borrowing with some future bigger return is just crazy talk that stupid voters like to hear about.

My wife and I were going to buy a toyhauler for $30,000 but decided against it. We borrowed $6,000 at 0% interest on a new bed instead. Now, we are $24,000 better off than we would have been. Now we are fighting on how to spend the other $24,000. I tried to explain to her that we could now borrow $150,000 for a really nice RV and use the $24,000 we didn't borrow to cover the payments on it. By then, I will be making more money and we would be able to pay for it then. She's too "dumb" to understand...women!!!
:p

[wilkin250r]

Originally posted by DnB_racing
it was Bush that put us in debt!! this JA now just doesnt know how to handle it.. Bush raised the debt by a record 72%

I don't know if I could pin it all on Bush. Yes, he was in office, but he didn't crash the planes into the towers. That was the tipping point that pushed us into war, and war is expensive.

And what were the alternatives? To NOT go to war, because it costs too much? I don't think the American public would have tolerated that line of logic.

[DnB_racing]

Originally posted by wilkin250r
I don't know if I could pin it all on Bush. Yes, he was in office, but he didn't crash the planes into the towers. That was the tipping point that pushed us into war, and war is expensive.

And what were the alternatives? To NOT go to war, because it costs too much? I don't think the American public would have tolerated that line of logic. if it was just the wars it would be acceptable but it was also very poor governing that brought it about:::
In the year 2000, the government had a budget surplus. But instead of using it to pay off our debt, the money was spent on trillions of dollars in new tax cuts, while two wars and an expensive prescription drug program were simply added to our national debt

to make matters worse, the recession meant that there was less money coming in, and it required to spend even more -– on tax cuts for middle-class families to spur the economy; on unemployment insurance; on aid to states so we could prevent more teachers and firefighters and police officers from being laid off. These emergency steps also added to the deficit.

[ProspectorJim]

Neither obama or bush is solely responsible. every elected official since WW2 is.

[wild250rman]

And we the people had nothing to do with it???

[DnB_racing]

Originally posted by wild250rman
And we the people had nothing to do with it??? I payed my taxes!!

[NacsMXer]

Check it out:

http://usdebt.kleptocracy.us/

[DnB_racing]

ya after i figured it out its about 70 feet tall of 100 dollar bill not 10 feet

[jesshamner]

I agree it is the fault of all the politicians that are controlling this country. They do not serve the public anymore. But anybody trying to discredit Obama from this problem is wrong. He is just as guilty as anyone else. He has spent a lot of money that didn't help our debt problem.

[quad2xtreme]

Originally posted by jesshamner
I agree it is the fault of all the politicians that are controlling this country. They do not serve the public anymore. But anybody trying to discredit Obama from this problem is wrong. He is just as guilty as anyone else. He has spent a lot of money that didn't help our debt problem.

agreed he is worsening the issue but it was way out of control already...and real spending takes congress. I am an Independent...don't like left or right wing agendas. There is no real good answer now. There is no way to pay the the current bills, pay the loan payments that are due, and not raise taxes (which would require going door-to-door to collect). The only thing they can do is raise the debt ceiling short-term and figure out where to go next. Take this as having your credit cards max'd out and finding out you are losing your job in a month. The best thing you could do is try to get more credit before you lose the job to carry you over until you can figure something out. The thing with the government is bankruptcy won't work.

The other thing to remember is cutting back on big government spending/programs means lots of unemployment to go around. We are in a major cluster &*$#. Most of this happened in the last 20 years or so. Amazing how the doubling factor of interest works!!!

[motochamp250]

I love how its ALWAYS bush's fault. this pres has spent more than all other Presidents COMBINED... but its still bushes fault... He's been in office for basically three years, when is he going to own up for ANYTHING and quit blaming everyone else?
His policies have done nothing but made things worse, but its someone else's fault.. Dont usually discuss politics and im no means a bush fan, but this guy has to take some ownership of his actions and stop blaming everyone else!

[motochamp250]

and why is there such a big deal with the debt ceiling? if we pay the interest on the debt we owe, which will be the first thing paid, there will be no default... they want the economy to grow? get rid of the capital gains tax and a few others and watch how many businesses begin to make large purchases! JMO

[quad2xtreme]

Originally posted by motochamp250
and why is there such a big deal with the debt ceiling? if we pay the interest on the debt we owe, which will be the first thing paid, there will be no default... they want the economy to grow? get rid of the capital gains tax and a few others and watch how many businesses begin to make large purchases! JMO

once you pay the debt, there isn't enough to pay the rest of the bills like social security to the retired people, fire fighters, police departments, schools, federal roads, etc.

budget (regular bills and loan payments) = taxes + borrowing.

There isn't enough coming in to pay the bills and loan payments without additional borrowing...which requires raising the cap.

soon enough, the interest will exceed tax collections. Then, what do you do?

[Tommy Warren]

when china takes over and kills all of you will they come to canada too?

[ProspectorJim]

Originally posted by Tommy Warren
when china takes over and kills all of you will they come to canada too?

nahh, nobody wants canada:p

[Quad18star]

Political parties that work together actually solve problems. But when it comes to "My balls are bigger than your balls" nothing gets solved.

This is going to throw the world into another recession. If they cannot agree to work together before Tuesday, watch every stock market fall Tuesday morning. And you thought the last one recession was bad? You ain't seen nothing yet!!!

[motochamp250]

Originally posted by quad2xtreme
once you pay the debt, there isn't enough to pay the rest of the bills like social security to the retired people, fire fighters, police departments, schools, federal roads, etc.

budget (regular bills and loan payments) = taxes + borrowing.

There isn't enough coming in to pay the bills and loan payments without additional borrowing...which requires raising the cap.

soon enough, the interest will exceed tax collections. Then, what do you do?

thats why you have to make cuts to those programs. We don't have a debt problem, we have a spending problem. The democrats want to spend everyone else's money but their own, and hold everyones hand from birth till death and we can't afford that. I'm 21, and personally tired of seeing how much of my money goes out of my check to something like social security, when i know i will never see any of that money when im of age. Unce sam needs to give a **** about the blue collar man and not the rich politicians who make boatloads of money and vote for their own salaries and personal agendas. When you outgo exceeds your income, your upkeep will be your downfall. Wise old person told me that. I'm probably out of this thread now, because i get all worked up haha and im not trying to argue with anyone because obviously SOMETHING needs done JMO

[derekhonda]

This thread amuses me.

Yes, it is everyones fault that was in the senate, congress, or president for about the last 60 years.

Bush took us to war, and wars cost a lot of money. I don't blame him, that was a damned if you do damned if you dont situation. Me personally, I hated to see a couple of good friends go over seas, but they all made it back, and also, I felt much more comfortable with this countries safety while bush was in charge than obama, and i don't really give two ****s what others around the world think of us.

Clinton imposed very strict regulation on banks and their lending practices, if you want to see why 10% of the houses in your neighborhood are sitting empty and why your house is worth 40% less than it was 5 years ago, look his direction.

Obama has spent and spent and spent since he has been in office. His philosophy was that spending all this money would create a bunch of jobs. (note: unemployment unchanged) Also with cap and trade, obama care, additional taxes, etc etc, it has basically put a halt to the economy.

If you want just a real life example of obama's policies, I work in the office of a midsized trucking company. With all of his new policies going into place, I can't talk the bosses into buying any new equipment or hire drivers. With an unknown amount of money going to be spent on each employee for obamacare, uncertain tax rates but definately going up, why would they take a leap of faith that they should break the status quo right now. They are making money how it is, why would they change anything? Ps, a new truck cost about 120K right now, bought them for 97k in 2008, thanks government regulation on diesel engines.

[DnB_racing]

Im glad your amused, im disgusted!!

but not with the thread but with the outlook for the future, as far as clinton i have to disagree look at the numbers

[Ruby Soho]

i love when people point fingers at the president.

its not the president. its our ENTIRE crooked government.

[DnB_racing]

Originally posted by Ruby Soho
i love when people point fingers at the president.

its not the president. its our ENTIRE crooked government. seeing this is the definition of the president

As chief executive, he enforces laws, treaties, and court rulings; develops federal policies; prepares the national budget; and appoints federal officials. He also approves or vetoes acts of Congress and grants pardons.

I would say its his job to make sure there is no corruption, He is in charge, to make sure that the government is run by the people for the people,

if he isn't to blame then it must be our fault, and it was our fault we elected bush not only once but twice,

and then we elected this token, to prove to the would we are sensitive to all religions races and colors and creed's, instead of electing the most qualified

[derekhonda]

Originally posted by DnB_racing
Im glad your amused, im disgusted!!

but not with the thread but with the outlook for the future, as far as clinton i have to disagree look at the numbers

Clinton traded short term gains for long term problems. I don't really know how to convince you of this, other than to look up his policies in 1994 regarding fannie mae and freddie mac. While a "everyone needs to own a home" policy is good on paper, a Janitor making 25K a year doesnt need to live in a $250,000 house.

Most of clinton's economic decisions were sound, however housing was not one of those.

[Aarons 01 400EX]

Originally posted by derekhonda
Clinton traded short term gains for long term problems. I don't really know how to convince you of this, other than to look up his policies in 1994 regarding fannie mae and freddie mac. While a "everyone needs to own a home" policy is good on paper, a Janitor making 25K a year doesnt need to live in a $250,000 house.

Most of clinton's economic decisions were sound, however housing was not one of those.

and lets not forgot that Clinton was handed the technology boom on a plate. After all, Gore created the internet...

[quad2xtreme]

some numbers to ponder...shows the increase in debt as a percentage of GDP by presidential term.


link (http://en.wikipedia.org/wiki/National_debt_by_U.S._presidential_terms)

[destey]

This is how ****ed up things are:

If govt spent the same amount next year, no increase, no decrease, just froze spending; this would be called a $4.5 trillion cut over 10 years. This is because of baseline accounting practices.

This country is being destroyed by the older generations at the expense of the youths.

[quad2xtreme]

Originally posted by destey
This country is being destroyed by the older generations at the expense of the youths.

Absolutely. My generation (I'm 46) should be called Generation ME.

[mx8]

Well I agree with most of this on here. But lets not forget about the lazy americians, that don't want to work and live on welfare. Or the dumb americians that live like rap stars . And file bankruptcy two or three times. Who pays for all of that. The working man does. I agree that the president's are not perfect. But the americian people are not either. If we the americian people did not ask for so many hand outs, and get off our lazy butts and do something and be a little more responsible. The americian debt might not be as big either. We all just want to point the finger at someone else.

[Tommy Warren]

this is what happens when a country is more interested in "making history" than the welfare of a country.

[Langbolt]

Here's a thought on how bad it is.....

Population of the United States = 311 Million

National Debt = 1.75 Trillion

So if Every Citizen (Man, Woman & Child) coughed up $5,627 it would be paid off!

NUTZ!

I can't believe the Government SPENT that much money and drove the country into the ground!

:huh

[DnB_racing]

Originally posted by Langbolt
Here's a thought on how bad it is.....

Population of the United States = 311 Million

National Debt = 1.75 Trillion

So if Every Citizen (Man, Woman & Child) coughed up $5,627 it would be paid off!

NUTZ!

I can't believe the Government SPENT that much money and drove the country into the ground!

:huh it is crazy but you made one small mistake,,, we owe more then that the national debt is 14.3 trillion

[OutlawBill]

Originally posted by DnB_racing
it is crazy but you made one small mistake,,, we owe more then that the national debt is 14.3 trillion
+ the 2.5 trillion just added + projected extra 1.5 to 2 trillion per year for the next 10 years :mad: buy then China could take over with out firing a shot just say pay up USA

[quad2xtreme]

Originally posted by OutlawBill
+ buy then China could take over with out firing a shot just say pay up USA

In reality, China owning America is just a myth. China doesn't come close to owning the highest portion of our National debt.

[quad2xtreme]

While most of the country's $14 trillion debt is held by private banks in the U.S., the Treasury Department and the Federal Reserve Board estimate that, as of December, about $4.4 trillion of it was held by foreign governments that purchase our treasury securities much as an investor buys shares in a company and comes to own his or her little chunk of the organization.

About 31.4% of our debt is owned by foreign governments. Of that amount, China owns 20.4% or really about 7% of the 14 trillion.



link (http://finance.yahoo.com/banking-budgeting/article/112189/who-owns-the-us?mod=bb-debtmanagement)

[slightlybent47]

There all kinds of arguments as to why and how and who is responsible for the shape were in. This goes way back before Nixon, it’s not anything new. We elect these people for one reason, to serve the public and do what’s best for the country. But it seems that these people we have elected have decided that they get so many kick backs and are taking money from large corporations that they can become filthy rich from it.

They have lost the concept of serving the country and are serving themselves instead.

We need term limits on all political offices, get in, serve your country and get out. But NO! They stay in or move from office to office and make a carrier out of it while lining there pockets.

If they would spend our money like we do and live on a budget we would be better off.
Instead they vote for lifetime salaries even after they have served and have left office.

Get rid of the tax breaks for the rich and make a fair tax of 10% for everyone, no mater what you make and get rid of all the tax loop holes for the rich.

You make $10,000 a year you pay $1,000.00. You make 10 million a year you pay $100,000.00.

Term limits, no lifetime salaries, stop spending what we don’t have, spend what we have responsibly and a fair even tax for everyone. So simple a cave man can do it!!!