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View Full Version : U.S. Issues $20 Trillion: Over or Under


patteeu
11-08-2012, 09:43 AM
Simple poll. When Obama leaves office in January 2017, will the National Debt be more than $20 trillion or less than $20 trillion? (Public debt in terms of 2017 dollars).

The Rick
11-08-2012, 09:54 AM
Tough one. Do I vote with my head or my heart? :huh:

The Rick
11-08-2012, 09:55 AM
Tough one. Do I vote with my head or my heart? :huh:
Okay, I voted with my head. :(

mlyonsd
11-08-2012, 09:56 AM
You should have added growth rate and if Obama had passed a budget by then to make it a trifecta.

jiveturkey
11-08-2012, 09:56 AM
I'm only saying less because I believe that cuts will be made and employment will continue to creep up.

Amnorix
11-08-2012, 10:04 AM
First, why is it that Republicans on here take credit for the deficit reduction under Clinton by saying that it was the Republican Congress that caused budgets to be balanced, etc., but Obama gets exclusive blame for run-away spending when Republicans control the purse strings of the House?

You're referencing public debt, which is currently $16.2 trillion. I think the deficit will, unfortunately, probably exceed $20 trillion by the time Obama leaves office, that the annual deficit will be shrinking, however, relative to the prior year, during the later years of Obama's second term, as whatever cliff-avoidance agreement they reach starts to take hold and, far more importantly, the economy continues to recover.

If Greece or other Eurozone countries go up in economic smoke or there is another event that sends a shock wave through the world economy, all bets are off. That's one of the problems with a fixed, structural deficit -- there's much less flexibility to deal with exigent circumstances.

King_Chief_Fan
11-08-2012, 10:24 AM
You should have added growth rate and if Obama had passed a budget by then to make it a trifecta.

Obama and Budget ROFLROFL

patteeu
11-08-2012, 10:26 AM
First, why is it that Republicans on here take credit for the deficit reduction under Clinton by saying that it was the Republican Congress that caused budgets to be balanced, etc., but Obama gets exclusive blame for run-away spending when Republicans control the purse strings of the House?

You're referencing public debt, which is currently $16.2 trillion. I think the deficit will, unfortunately, probably exceed $20 trillion by the time Obama leaves office, that the annual deficit will be shrinking, however, relative to the prior year, during the later years of Obama's second term, as whatever cliff-avoidance agreement they reach starts to take hold and, far more importantly, the economy continues to recover.

If Greece or other Eurozone countries go up in economic smoke or there is another event that sends a shock wave through the world economy, all bets are off. That's one of the problems with a fixed, structural deficit -- there's much less flexibility to deal with exigent circumstances.

Oh, don't get me wrong. If somehow the federal government miraculously balances the budget or even reduces the deficit to GWBush levels, I'll be giving a full share of the credit to the GOP House. (And to Obama for cooperating like Clinton did). :D

That said, I expect a debt of more than $20 trillion.

Munson
11-08-2012, 10:57 AM
Easily over $20 trillion.

Garcia Bronco
11-08-2012, 11:02 AM
We cannot continue and spend at these levels.

La literatura
11-08-2012, 11:09 AM
We cannot continue and spend at these levels.

Temporarily, we can and should. For the long-term, we of course cannot.

Trillions are big numbers. But, our GDP is $15 trillion. We are inherently operating with enormous numbers. It's possible that by 2017, our annual GDP will be over $20 trillion.

But, yes, I think we will be over $20 trillion in debt by the end of Obama's second term. The important thing is that we get on a path of fiscal stability.

patteeu
11-08-2012, 11:13 AM
Temporarily, we can and should. For the long-term, we of course cannot.

Trillions are big numbers. But, our GDP is $15 trillion. We are inherently operating with enormous numbers. It's possible that by 2017, our annual GDP will be over $20 trillion.

But, yes, I think we will be over $20 trillion in debt by the end of Obama's second term. The important thing is that we get on a path of fiscal stability.

We were operating with significantly smaller numbers before Barack Obama took over.

La literatura
11-08-2012, 11:17 AM
We were operating with significantly smaller numbers before Barack Obama took over.

And before the recession happened, yes. I wish we didn't have the recession too, but deregulation and economic mismanagement happened and our economy faced a point where we had to either stimulate or see credit lines dry up and the unemployment boom to over 15%.

patteeu
11-08-2012, 11:20 AM
And before the recession happened, yes. I wish we didn't have the recession too, but deregulation and economic mismanagement happened and our economy faced a point where we had to either stimulate or see credit lines dry up and the unemployment boom to over 15%.

You left out the four year tragedy of leadership we've suffered through since Jan 2013.

alpha_omega
11-08-2012, 11:23 AM
First, why is it that Republicans on here take credit for the deficit reduction under Clinton by saying that it was the Republican Congress that caused budgets to be balanced, etc., but Obama gets exclusive blame for run-away spending when Republicans control the purse strings of the House?



That's the Bush rule...didn't you get the memo?

BIG_DADDY
11-08-2012, 11:40 AM
Come on, we just re-elected most fiscally irresponsible president in the history of our country by a long shot right in the middle of a financial crisis. What do you think? As a country we deserve whatever happens to us at this point.

BIG_DADDY
11-08-2012, 11:42 AM
I'm only saying less because I believe that cuts will be made and employment will continue to creep up.

Whatfuknever man. You have no idea what's really going on. Thanks for sharing that fact.

FD
11-08-2012, 12:11 PM
Under, but it will be close.

Garcia Bronco
11-08-2012, 12:14 PM
Temporarily, we can and should. For the long-term, we of course cannot.

Trillions are big numbers. But, our GDP is $15 trillion. We are inherently operating with enormous numbers. It's possible that by 2017, our annual GDP will be over $20 trillion.

But, yes, I think we will be over $20 trillion in debt by the end of Obama's second term. The important thing is that we get on a path of fiscal stability.

No we shouldn't. When the ledger is out of balance we have to borrow. The rate we have to borrow at increases with the more we borrow.

mlyonsd
11-08-2012, 12:19 PM
First, why is it that Republicans on here take credit for the deficit reduction under Clinton by saying that it was the Republican Congress that caused budgets to be balanced, etc., but Obama gets exclusive blame for run-away spending when Republicans control the purse strings of the House?

You're referencing public debt, which is currently $16.2 trillion. I think the deficit will, unfortunately, probably exceed $20 trillion by the time Obama leaves office, that the annual deficit will be shrinking, however, relative to the prior year, during the later years of Obama's second term, as whatever cliff-avoidance agreement they reach starts to take hold and, far more importantly, the economy continues to recover.

If Greece or other Eurozone countries go up in economic smoke or there is another event that sends a shock wave through the world economy, all bets are off. That's one of the problems with a fixed, structural deficit -- there's much less flexibility to deal with exigent circumstances. Knock that shit off. You're one of us now.

patteeu
11-08-2012, 01:48 PM
Knock that shit off. You're one of us now.

LMAO

HemiEd
11-08-2012, 02:06 PM
Simple poll. When Obama leaves office in January 2017, will the National Debt be more than $20 trillion or less than $20 trillion? (Public debt in terms of 2017 dollars).

Don't be silly, Obama reduced the National Debt by 50% his first term didn't he? He said he would, surely he did.


Oh crap, I forgot it was George Ws fault, never mind.

StcChief
11-08-2012, 02:10 PM
Over 20T...despite lack of mandate. Obama get's US in another war.