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View Poll Results: Will the national debt be more or less than $20 trillion in Jan 2017?
More than $20 trillion. 26 74.29%
Less than $20 trillion. 7 20.00%
The Mayans were right so it's a moot question. 2 5.71%
Voters: 35. You may not vote on this poll

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Old 11-08-2012, 09:43 AM  
patteeu patteeu is offline
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$20 Trillion: Over or Under

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).
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Old 11-08-2012, 09:54 AM   #2
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Tough one. Do I vote with my head or my heart?
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Old 11-08-2012, 09:55 AM   #3
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Tough one. Do I vote with my head or my heart?
Okay, I voted with my head.
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Old 11-08-2012, 09:56 AM   #4
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You should have added growth rate and if Obama had passed a budget by then to make it a trifecta.
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Old 11-08-2012, 09:56 AM   #5
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I'm only saying less because I believe that cuts will be made and employment will continue to creep up.
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Old 11-08-2012, 10:04 AM   #6
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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.
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Old 11-08-2012, 10:24 AM   #7
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Quote:
Originally Posted by mlyonsd View Post
You should have added growth rate and if Obama had passed a budget by then to make it a trifecta.
Obama and Budget
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Old 11-08-2012, 10:26 AM   #8
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Originally Posted by Amnorix View Post
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).

That said, I expect a debt of more than $20 trillion.
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Old 11-08-2012, 10:57 AM   #9
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Easily over $20 trillion.
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Old 11-08-2012, 11:02 AM   #10
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We cannot continue and spend at these levels.
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Old 11-08-2012, 11:09 AM   #11
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Originally Posted by Garcia Bronco View Post
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.
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Old 11-08-2012, 11:13 AM   #12
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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.
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Old 11-08-2012, 11:17 AM   #13
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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%.
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Old 11-08-2012, 11:20 AM   #14
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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.
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Old 11-08-2012, 11:23 AM   #15
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Originally Posted by Amnorix View Post
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?
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