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View Full Version : Economics Why the Debt Crisis Is Even Worse Than You Think


HonestChieffan
07-29-2011, 09:39 AM
I really wonder how we can avert a bigger crisis if we have a Senate, House, and a President who refuse to behave like adults. If this week has not done anything else it has shown me we cannot expect to see Country come before politics in Washington.

This is an excellent, but depressing, outlook.

http://www.businessweek.com/magazine/why-the-debt-crisis-is-even-worse-than-you-think-07272011.html

mlyonsd
07-29-2011, 09:44 AM
File this one under 'Duh'.

All plans proposed in the last 6 months have been nothing more than a bandaid on a beheading.

BucEyedPea
07-29-2011, 09:49 AM
There is a comforting story about the debt ceiling that goes like this: Back in the 1990s, the U.S. was shrinking its national debt at a rapid pace.

Serious people actually worried about dislocations from having too little government debt.

Huh? :huh: :doh!:

If it hadnít been for two wars, the tax cuts of 2001 and 2003, the housing meltdown, and the subsequent financial crisis and recession, the nationís finances would be in fine condition today.

Does anyone see the first item on the list? Or is it skipped for the third itemówhich no doubt is major? Sorry but the first item cannot be ignored eitherónor are we safer for it.

Chiefshrink
07-29-2011, 09:54 AM
Bottom line: Until we get rid of operating from this "baseline budgeting" BS approach(ignoring the "real" numbers) that was instituted by Nixon in 74 to appease the Dems and finally pass a balanced budget amendment, the power elites will always control our "We The People"s $$ while just giving us lip service never truly dealing with debt.

patteeu
07-29-2011, 10:05 AM
Huh? :huh: :doh!:



Does anyone see the first item on the list? Or is it skipped for the third item—which no doubt is major? Sorry but the first item cannot be ignored either—nor are we safer for it.

Good eye.

There is no truth to any of those three statements.

BucEyedPea
07-29-2011, 10:41 AM
Hmmmm....Apple has more cash than the USG.

This can't be all bad. "Apple collects more money than it spends, while the U.S. government does not."

LMAO


http://www.businessinsider.com/apple-has-more-cash-on-hand-than-the-us-government-2011-7

FishingRod
07-29-2011, 11:54 AM
To be fair the debt shrank a little one year in the 2nd term of Pres Clinton Kinda like running up 50 Grand at the casino on your credit card hitting a jackpot for $1000 and then runiing back to the slot machines Babbling like and imbecile I’m winning I’m winning