Clinton just knocked it out of the park

[mvscal]

What is it that you expect me to explain?

[poptart]

Mikey's warnings of the debt approaching $10 trillion.

haha


Where's Mikey now?

His boy has jacked the thing up to 16 trillion in under 4 years, has no interest in working within the confines of a budget, and is ass-raping the hell out of future generations.


Your take, Mikey?

[poptart]

I'd say the high demand and the low rate has a lot to do with investors being spooked by the idea of putting their money in stocks now.
Market volume is very low, isn't it?

Lenders don't fear an outright bankruptcy on the part of the U.S.
We'll just crank more money off the presses.


Does a 16 trillion dollar debt not concern you?
Is that your take?

Do you somehow think the U.S. people are not being fucked one way or another by this debt?

Are you aware of what has happened to the purchasing power of the dollar since we began down the government debt path 30+ years ago?

Fuct.

[Mikey]

Mikey's warnings of the debt approaching $10 trillion.

haha


Where's Mikey now?

His boy has jacked the thing up to 16 trillion in under 4 years, has no interest in working within the confines of a budget, and is ass-raping the hell out of future generations.


Your take, Mikey?

You started predicting imminent catastrophic crash and burn almost four years ago. You're still repeating the same shit today. What's the point in arguing with a broken record? I'd rather watch the paint peel off my garage door.

Really, you ought to stick to quoting the Bible. At least that's something you can get right.

[poptart]

You started predicting imminent catastrophic crash and burn almost four years ago.

We ARE crashing and burning, dimwit.

Since the economic crisis of 2008 we have added over 5 trillion in new debt - and I ask you, how is a 16 trillion dollar debt going to be paid off?

And what has this 5+ trillion in new debt bought us?

We have massive on-going unemployment and just the interest on our debt cost taxpayers 227 billion dollars in 2011.

Over the next decade, we will spend around 5 TRILLION dollars just to pay interest on the debt.

Yes, we have crashed and we ARE burning, you ridiculous half-ass.

http://money.cnn.com/2012/03/05/news/ec ... /index.htm


Why are you not up in arms about Barry's 16 trillion when you were up in arms about GW's 10 trillion?

Nevermind.

Everyone already knows that you're a democratic HACK who is incapable of original and objective thought.

Any crisis you can see coming isn't a crisis.

Complete bullshit.

Do you somehow think the U.S. people are not being fucked one way or another by this debt?

Are you aware of what has happened to the purchasing power of the dollar since we began down the government debt path 30+ years ago?

Why didn't you answer, Mr. Econ guru?

[Mikey]

We ARE crashing and burning, dimwit.

Who's this "we" you're referring to, poser?

I thought this was a discusson of the UNITED STATES economy, not some two bit Asian backwater.

[Felix]

We have massive on-going unemployment and just the interest on our debt cost taxpayers 227 billion dollars in 2011.

and I'd certainly like to thank both parties, but primarily the republicans and specifically the tea party assholes and their ongoing obstructionism and refusal to work in any sort of bipartisan way with the democrats for the US credit rating being downgraded and ultimately costing us taxpayers billions and billions of dollars more per year in interest payments.....

outstanding work....

[Mikey]

We have massive on-going unemployment and just the interest on our debt cost taxpayers 227 billion dollars in 2011.

Yes, we have crashed and we ARE burning, you ridiculous half-ass.

Yep, crashed and burned. And interest on the federal debt is a perfect indicator. We've really cratered this time I tell ya.





Yep, crashed and burned. At least your pea-sized brain apparently has, you self-inflated one trick blowhard pony.

Source of the data:

http://www.usgovernmentdebt.us/spending ... #copypaste

Now just STFU and go find some nice bbq wiener dog..

[mvscal]

The economic theory would be that future buyers of the debt would demand a greater interest rate which in turn would force the Government to hike interest rates.

That has not occured

Of course it hasn't occured, you fucking moron. It doesn't work that way. Why the fuck would the Feds issue bonds at 4% interest when people are buying them at 1.6%?

Honestly, I'm a little embarassed for you.

[Shlomart Ben Yisrael]

[mvscal]

We do have inflation in energy (though that fluctuates) and food costs but both are a result of global demand rather than economic policy

Oh, really? Ethanol mandates have no impact on feed prices? Are you sure about that?

[poptart]

16 trillion seems to not be a concern to those buyers

16 trillion IS a major concern for us, you fool.




All is well.



- Mikey, Foolix, Scrot, B. Bob

[poptart]

but primarily the republicans and specifically the tea party assholes and their ongoing obstructionism and refusal to work in any sort of bipartisan way with the democrats for the US credit rating being downgraded and ultimately costing us taxpayers billions and billions of dollars more per year in interest payments.....

Republican obstructionism...

Asshat, where has the democratic BUDGET been the last 3+ years while Barry has spent 5+ trillion dollars WE DON'T HAVE??

[poptart]

Your specialty is idiotically diverting toward narratives unrelated to the topic at hand, isn't it?

I'm concerned with how badly WE are getting fucked - and I find it amazing that MORONS brush a 16 trillion dollar debt and total fiscal irresponsibility aside just so they can continue to feel good about voting for a (D).

Why don't you go impress yourself some more in the money forum?

Do you somehow think the U.S. people are not being fucked one way or another by this debt?

Are you aware of what has happened to the purchasing power of the dollar since we began down the government debt path 30+ years ago?

[poptart]

Seriously - explain to me exactly what has changed for YOU as a result of the debt increasing 5 trillion?

Oh, I dunno... maybe the fact that us taxpayers (that's me and you) are going to be having our money used to pay 5 trillion dollars just in interest on our debt over the next decade.

Is this good for me?

Seriously, wtf is wrong with you??


Why should one generation saddle coming generations with this kind of burden?

On top of many other things, it's completely immoral.


We've already had one (unprecedented in our history) credit downgrade.



Save your bullshit inflation numbers - which don't include food and energy.

http://www.bankrate.com/finance/persona ... ink-1.aspx

The dollar has been raped over the last 30+ years.

[mvscal]

Then explain why our bonds are selling at record lows Tard

Bond sales at record lows are clear indicators of economic weakness and uncertainty, idiot. Our T bills are perceived to be the safest port in an economic storm. That perception is predicated on our ability to redeem the debt we issue. That ability is compromised by a shrinking taxbase and record deficit spending.

The Federal government is not sustainable. It needs to be pruned back.

[mvscal]

So now you're implying that we'll eventually default on the debt? -

What part of the downgrade of our credit rating are you struggling to comprehend?

[Shlomart Ben Yisrael]

[poptart]

For a guy who puffs himself up as some kind of genius money guru, I wonder how Scrot can be so unbelievably... STUPID.

Your inflation numbers are not FACT, dumb@ss.
They don't account for food, energy, college tuition, etc.


In 2010, 1/10th of fed revenue went just to pay interest on the debt.

This HURTS us, dummy.

Shouldn't taxpayers' expect that they will actually receive something tangible for the money they hand over to the government - and not just have it pissed down the drain?

And we'll be doing this as far into the future as we can see.
And our kids will be.
And their kids...

And according to CBO estimates, this complete waste of our money (and our descendants' money) will do nothing but accelerate in the coming years.

Yes, it's immoral, you fucking joke.


How the hell can a supposed money guy sit there and ask how we are being hurt by our huge debt?


You're an idiot, straight up.

[Felix]

but primarily the republicans and specifically the tea party assholes and their ongoing obstructionism and refusal to work in any sort of bipartisan way with the democrats for the US credit rating being downgraded and ultimately costing us taxpayers billions and billions of dollars more per year in interest payments.....

Republican obstructionism...

Asshat, where has the democratic BUDGET been the last 3+ years while Barry has spent 5+ trillion dollars WE DON'T HAVE??

would you quit screeching that same non-sensical talking point.....obama has submitted a budget every year and the congress has voted it down every year.....obama doesn't pass a budget, congress does that....

maybe you should familiarize yourself with the constitution instead of spewing this endless non-sense

[Diego in Seattle]

Please, 88. Taxes are lower now for the rich than they have been for decades.

Do you consider a household clearing $250,001 rich?

Considering how apoplectic conservatives are over union auto workers grossing $28.00/hr ($58,000), clearing $250,000 most certainly is rich.

[smackaholic]

Anyone making 28/hr is likely to be making a good bit better than 58 a year. And the problem we have with someone making 28 is that many of them are in low skilled positions that could be filled for much less. Are you pro union types willing to deal with the consequences of making the minimum wage say, 25/hr?

[poptart]

But if you think low bond yields are a sign that John Q. Investor believes the U.S. economy is strong or that the U.S. ought to continue to pile up debt, I think you are smoking what Irie smokes.

The accumulation of sovereign debt is a big issue.

Well put 88 - MY point exactly.

LMAO!!

He just kicked your ass, clown, and not only that, he gave you the same basic answer to your question that I gave you.

People still buy our T-Bills because it's seen as being safer than the markets.


You've been arguing since you entered the thread that the massive debt does not hurt us and you've tried to spin that all is well so long as our debt continues to be bought.

Both sides of your mouth are moving, 'tard.


I answered your question and pointed out exactly how using massive amounts of our taxes just to pay off interest on the debt hurts US and our future generations.

Do you deny the undeniable?

Won't surprise me.

You keep screaming ""the dollar has been raped over the past 30 years" yet you completely ignore the actual numbers

Ignoring the truth doesn't change it

Truth is, you're completely full of shit.

You posted an inflation page to pimp that the loss of purchasing power of the dollar is no biggie.
Yet what you cite does not count food, gas, or college tution.

Think those things make any difference? lol

Your page tells us that we've had inflation totaling just 117% in the 30 year period from 1980 to 2010.

Yet...

Gas is up over 250% since 1980.
College tuition is up at least 300% since '80.
Ground beef is up 400% since '80.

to summarize the last time we had inflation over 4% was 1991

BULLSHIT.

See above.

Pop your inflated head out of your ass any day, fucktard.

You're seriously among THE biggest morons on the board.

Yes, we've been hurt and will continue to be hurt by deficit spending of the magnitude we've seen.

obama has submitted a budget every year and the congress has voted it down every year.

Barry's 2013 budget went down 414 to 0 in the House.

Are there any Democrats in the House?


His 2012 budget went down 97-0 in the Senate.

Are there any Democrats in the Senate?

[mvscal]

obama has submitted a budget every year and the congress has voted it down every year

A lie.

[Mikey]

In 2010, 1/10th of fed revenue went just to pay interest on the debt.

Pretty scary.

Until you put it into historical perspective - it's actually pretty close to the lowest it's been since WWII



But go ahead, keep ignoring the facts and shouting your ignorance to the world.
You wouldn't be you if you didn't.


http://www.usgovernmentdebt.us/spending ... s90l90fF0f
http://www.whitehouse.gov/omb/budget/Historicals

[poptart]

In 2008...

The debt stands at over $9.4 trillion.
Sorry but you can't lie your way out of that number.

interest on the debt is one of the largest line items in the annual budget.
Almost $430 billion in 2007.
Dumbshit.

If the debt increases by the same amount it has increased since 12/6/2006 (about 18 months) it will be over $10 trillion. At the rate Chimpy is flushing resources down the toilet in Iraq it could happen a lot sooner.

Just to be clear, do you now take back your 2008 angst with Bush's additions to our debt?

In 2008, pproaching 10 trillion was awful as far as you were concerned, but now poptart is somehow ignorant because he's very concerned about 16 trillion?

Yes, you are remain a ridiculous partisan HACK.


An btw, you were wrong about the 430 billion dollars in interest paid on the debt in 2007.
It was 243 billion.


You're aware of the Simpson-Bowles Committee?

Former Republican Sen. Simpson and former Clinton administration Chief of Staff Bowles told members of the deficit reduction committee that while $1.2 trillion in deficit reduction “would be a small step forward, it’s important that the American people understand and the Congress realizes that $1.2 trillion in deficit reduction will not solve our long-term fiscal problems and that significantly more deficit reduction will need to be done to stabilize the debt and put it on a downward path as a percent of GDP.”

By now, they said, “everyone must understand that $4 trillion of deficit reduction is not the maximum we need to reduce the deficit over the next 10 years; it is not the ideal amount, it is the minimum amount we need to reduce the deficit to put our fiscal house in order and to stabilize our debt and get it on a downward path as a percent of GDP.”

http://www.advisorone.com/2011/11/01/bo ... e-must-cut

http://yourmoney.blogs.cnn.com/2012/08/ ... onal-debt/

[Felix]

obama has submitted a budget every year and the congress has voted it down every year

A lie.

really, which year didn't he submit a budget proposal?

2010
2011
2012
2013

2009 was submitted by George Bush, so I'm not sure which year you're talking about here....

[Smackie Chan]

planet Earf
planet Earf
planet Earf

OK, cockaholic...it was fun while it lasted.

Now give 88's p/w back to him.

[Mikey]

My graph goes through 2011 and includes the estimated numbers for 2012.

[Van]

Does it include this week's USC-Stanford game?

[Mikey]

Just to be clear, do you now take back your 2008 angst with Bush's additions to our debt?

I never said that the debt or the interest paid on it aren't a problem. I'm just pointing out that you and your sky is falling scenario are both full of shit, and have been for the past four years.

[Mikey]

Does it include this week's USC-Stanford game?

That could throw the whole economy even more out of whack than it already is.

[poptart]

It doesn't hurt us.

Look, our debt is still being purchased!


- KC Dumbshit

[mvscal]

Here is a link to a newer one: http://politicalcalculations.blogspot.c ... es-us.html

I see from your chart that we have added $1.7 trillion dollars to the debt since June 1, 2011.

Nope, nothing to worry about there. We'll just grow our way out of this 16 trillion dollar hole.

[poptart]

another 18% was "borrowed" from Social Security

Yeah, that doesn't hurt us, either.


bwaaa...

[poptart]

I think you forgot to project that, because your foolishness is on display, my wife must be fat, also.

[poptart]

I'm not sure what you are talking about and, quite frankly, I'm not sure you know what you are talking about. You characterize 42% of the U.S. public debt as "internal" as if that means it is some other kind of debt. What does "internal" mean to you? I know that it means that U.S. citizens and U.S. companies loaned money to the federal government, which is obligated to pay it back, with interest. And the only source of revenue the federal government has is the wealth of its citizens.

And the fact that 18% of the debt is owned by the Social Security Administration should scare the beJesus out of anyone who hopes to draw on those accounts in the future. What that means is that the Social Security Administration took in dollars from the citizens, then loaned those real dollars to the federal government in return for IOU's, the federal government spent those dollars, and now has to take more money from the citizens to pay to the Social Security Administration so it can give that money to other citizens. Talk about your double-fisted anal Ponzi scheme.

L-R, KC Dumbshit, Normal Humans

[Derron]

That said, I'd rather have that debt owed to our Fed as opposed to foreign interests.

We won't default to the Fed

Yeah..hell if you don't have money top pay either one, may as well fuck the foreign guys first..they won't mind...

[poptart]

I'm not smart enough to actually discuss this subject. But i will try to piggyback off someone who is.

Dumb@ss, I spent the better part of two pages answering your question about how we are hurt by the massive on-going debt - and I gave you the same response 88 gave you about why our T-Bills still being bought.

Oh... and I also had to inform you that your precious supposedly FACTUAL inflation numbers are bullshit which only a true dim bulb would try to pass off as really being indicative of the current state of affairs.

And what I got back from you was, "I'm very smart. You are not. You believe the Bible. You are poor. You are old."

LOL

I'm not sure what you (88) want to debate here.

He was trying to point out the OBVIOUS to your dumb ass.

That being, your continuing drumbeat of "Well, 40% of the debt is held from within the country" is sub-idiotic gibberish.

If there wasn't full faith that it would be repaid - as mentioned multiple times - that money would be going somewhere else

And what does this have to do with the 16 trillion dollar debt HURTING US?

You, pretending to be wise, butterflied your way into the thread to try to take me to task for being concerned about how the massive debt is hurting us - and your rational is that as long as the debt is being bought, it must be fine.

A truly laffable take.

Well it's been shown to you in multiple ways now how the massive debt surely IS (and will continue to) hurting us.
And it's also been shown that only a flaming DUMBSHIT fails to get that.

And yet you continue to flap away and pretend to know something.

You don't know shit and should seriously stfu here and go talk (and listen) to yourself in the money forum.


You've so deep-dicked yourself in this thread that your asshole may never forgive you.

[poptart]

Why do you keep repeating your "the world is still buying our debt" meme?

Nobody is disputing it.

In short you are as qualified to discuss this topic as Duhron

What the hell is your qualification?

Surely nothing in this thread indicates that you have even a modest level of financial awareness.

Derron is brighter than you are.
Clearly.