National Debt Limit: Fuzzy Math

[breakingcontact]

Treasury Ran $98 Billion Deficit in July--But Debt Stayed Exactly $16,699,396,000,000 | CNS News

 

[Ole Cowboy]

These guys are accounting wizards and its not hot 'n dry in S Texas in the summertime...

 

[caleb7]

Time for some troll science: step 1) Take out loan. Step 2) take 2 loans, keep one and pay first loan with other. Step 3) take out three loans, keep one and pay off other two loans. Step 4) repeat for infinite profit.

"Speak softly and carry a big stick!" ~ Theodore Roosevelt

 

[M. Sage]

Time for some troll science: step 1) Take out loan. Step 2) take 2 loans, keep one and pay first loan with other. Step 3) take out three loans, keep one and pay off other two loans. Step 4) repeat for infinite profit.

"Speak softly and carry a big stick!" ~ Theodore Roosevelt

It would work if not for the fact that banks check on things like that when it comes to you and me... Apparently the government can just borrow until the banks run out of money to print.

 

[Ole Cowboy]

Time for some troll science: step 1) Take out loan. Step 2) take 2 loans, keep one and pay first loan with other. Step 3) take out three loans, keep one and pay off other two loans. Step 4) repeat for infinite profit.

"Speak softly and carry a big stick!" ~ Theodore Roosevelt

Sounds like our govt...

 

[caleb7]

It would work if not for the fact that banks check on things like that when it comes to you and me... Apparently the government can just borrow until the banks run out of money to print.

Don't challenge troll science. The logic is irrefutable. :O

"Speak softly and carry a big stick!" ~ Theodore Roosevelt

 

[M. Sage]

Something I don't get. If my neighbor borrows money in my name, that's illegal. But if a bunch of my neighbors do it, it's legitimate?

 

[subseashooter]

Something I don't get. If my neighbor borrows money in my name, that's illegal. But if a bunch of my neighbors do it, it's legitimate?

Heck, if that's the case, I'll move into your neighborood!

 

[Sapper740]

Treasury Ran $98 Billion Deficit in July--But Debt Stayed Exactly $16,699,396,000,000 | CNS News

Actually, The debt is many times higher. From Fox News yesterday: "Hamilton believes the government is miscalculating what it owes by leaving out certain unfunded liabilities that include government loan guarantees, deposit insurance, and actions taken by the Federal Reserve as well as the cost of other government trust funds. Factoring in those figures brings the total amount the government owes to a staggering $70 trillion, he says."

Read more: California economist says real US debt $70 trillion | Fox News

 

[ROGER4314]

Previous administrations trumpeted a "Balanced Budget" as if they had done something that was magical! That simply meant that they were spending the money that they had and no more. It did NOTHING to reduce the debt that we carry or to lessen the dangers of having that much debt. The bottom line is that they stopped spending MORE money than they had and did nothing to correct the real problem.....debt.

Remember that when these knot heads battle to balance the budget. A balanced budget will do nothing to correct the sins of our Rulers who have been spending our money like drunken sailors! A balanced budget will keep it from getting worse....nothing more.

Flash

 

[IXLR8]

Japan just hit a national debt of a quadrillion yen. A quadrillion of anything is a lot to owe. I don't think we will be far behind in a very few years...
Japan’s debt looks like this: 1,000,000,000,000,000 yen

The U.S. Debt is about 1.5 quadrillion yen, for comparison.

 

[breakingcontact]

Austerity measures seem to kick in between 90-110% of GDP.

 

[Younggun]

And just think, once one country finally collapses under the weight of its own debt the rest will follow.

I can guess what the solution will be to a real world wide economic collapse.

 

[Younggun]

BTW, US GDP for 2012 was about 16.5 trillion.

 

[breakingcontact]

Say what you will about Ron Paul and the anti federal reserve crowd the federal reserve and those who control it are creepy. When you look at the economists running things it's about like a doctor "practicing medicine". They do the best they can but sometimes things just happen. Historically we had cycles of boom and bust. Through our managed economy they figured they could stop that cycle. Perhaps, or perhaps long periods of growth will be followed with a complete and entire bust.

"I" don't know what's going to happen, but, neither do "they".

I'll have to start a new tread about ethanol subsidies and governmental intervention in our food supply.

 

[Ole Cowboy]

What is going to happen?

The poor job market we have had for the past 5 years was not by accident or mistake, it was well orchestrated by the extreme left. Obama is doing exactly what he was instructed to do, he is too stupid to do anything else. Global collapse is the end game, which will bring about rule by one world govt or in this case the UN.

 

[breakingcontact]

What is going to happen?

The poor job market we have had for the past 5 years was not by accident or mistake, it was well orchestrated by the extreme left. Obama is doing exactly what he was instructed to do, he is too stupid to do anything else. Global collapse is the end game, which will bring about rule by one world govt or in this case the UN.

I'm not always 100% sure there is some shadow government pulling the strings with total domination and control of the masses as the end game. But it doesn't look good and I do believe there are plenty of power hungry control freaks of all political stripes that are eager to exert whatever influence and control they can and benefit from economic problems whether they created them, inherited them or fell into them through chance.

We need to resurrect the Constitution.

 

[Ole Cowboy]

I'm not always 100% sure there is some shadow government pulling the strings with total domination and control of the masses as the end game. But it doesn't look good and I do believe there are plenty of power hungry control freaks of all political stripes that are eager to exert whatever influence and control they can and benefit from economic problems whether they created them, inherited them or fell into them through chance.

We need to resurrect the Constitution.

Shadow govt, ummm, well try 2. What we are seeing is a massive struggle going on globally. The 2 'figureheads' are Klinton and Obama and they are 2 distinct camps in spite of having the same goals and end game.

Who pulls the strings, not sure of all the players, but some are not only well know but are quite open...such as G Soros, P Lewis just to name a couple of the most visible and richest. The common thread is hard line Marxist and the big let down was from Slick Willy himself, Hillary won't be as soft as Billy, Obama is the lead candidate in the race, but he has a few things to accomplish before he leaves office for his role as the Global Dictator. Hillary is most likely to old for the role and not a Muslim or black.

The things standing in the way are our military (Obama will fix that with gays/transgender and women in combat roles, then reduce the Active forces to about 380k which is considered the min to fight on one front and that front is our shores).

The Constitution: Obama has been working that since he took office and at this time the only single Bill of Rights Amend that is standing is the 2nd Amendment RKBA. The 1st is gone, 4th gone only YOUR guy is left. In addition the Constitution gives us the 'rule of law' and that is under attack by our Dictator in Chief. We are rapidly moving to rule of man (federal govt).