The national debt political game

 
rickoshay86
 
Avatar
 
 
rickoshay86
Total Posts:  17
Joined  13-08-2012
 
 
 
13 August 2012 14:03
 

Congress claims our national debt is over 15.5 trillion, and justify their huge cuts on the need to pay it back, but what they fail to mention is that only 4.5 trillion is foreign debt, and the rest are public debts like social security, medicare, etal, that would require more taxes to pay them back.—which congress isn’t about to do

—————————————————————————————————————————————————————————————-

Reason obeys itself; and ignorance submits to whatever is dictated to it. Thomas Paine

 
 
Avatar
 
 
toombaru
Total Posts:  800
Joined  12-11-2010
 
 
 
13 August 2012 15:18
 
rickoshay86 - 13 August 2012 02:03 PM

Congress claims our national debt is over 15.5 trillion, and justify their huge cuts on the need to pay it back, but what they fail to mention is that only 4.5 trillion is foreign debt, and the rest are public debts like social security, medicare, etal, that would require more taxes to pay them back.—which congress isn’t about to do

—————————————————————————————————————————————————————————————-

Reason obeys itself; and ignorance submits to whatever is dictated to it. Thomas Paine

 

Congress has free will?
:-0

 
rickoshay86
 
Avatar
 
 
rickoshay86
Total Posts:  17
Joined  13-08-2012
 
 
 
14 August 2012 11:15
 
toombaru - 13 August 2012 03:18 PM
rickoshay86 - 13 August 2012 02:03 PM

Congress claims our national debt is over 15.5 trillion, and justify their huge cuts on the need to pay it back, but what they fail to mention is that only 4.5 trillion is foreign debt, and the rest are public debts like social security, medicare, etal, that would require more taxes to pay them back.—which congress isn’t about to do

—————————————————————————————————————————————————————————————-

Reason obeys itself; and ignorance submits to whatever is dictated to it. Thomas Paine

 

Congress has free will?
:-0

Nope, just ongoing chains of reactions like the rest of us

 
 
Avatar
 
 
toombaru
Total Posts:  800
Joined  12-11-2010
 
 
 
14 August 2012 12:42
 
rickoshay86 - 14 August 2012 11:15 AM
toombaru - 13 August 2012 03:18 PM
rickoshay86 - 13 August 2012 02:03 PM

Congress claims our national debt is over 15.5 trillion, and justify their huge cuts on the need to pay it back, but what they fail to mention is that only 4.5 trillion is foreign debt, and the rest are public debts like social security, medicare, etal, that would require more taxes to pay them back.—which congress isn’t about to do

—————————————————————————————————————————————————————————————-

Reason obeys itself; and ignorance submits to whatever is dictated to it. Thomas Paine

 

Congress has free will?
:-0

Nope, just ongoing chains of reactions like the rest of us


Then perhaps you needn’t worry about the national debt.
Oh wait a minute….........you don’t have a choice.
And I wish I didn’t have to take the time to write all this, but when it comes to choice…......neither do I also have one.
;(

 
 
Avatar
 
 
bigfan
Total Posts:  7
Joined  18-08-2012
 
 
 
17 August 2013 09:24
 
rickoshay86 - 13 August 2012 02:03 PM

Congress claims our national debt is over 15.5 trillion, and justify their huge cuts on the need to pay it back, but what they fail to mention is that only 4.5 trillion is foreign debt, and the rest are public debts like social security, medicare, etal, that would require more taxes to pay them back.—which congress isn’t about to do

—————————————————————————————————————————————————————————————-

Reason obeys itself; and ignorance submits to whatever is dictated to it. Thomas Paine

I think you got the numbers mixed up there. The public debt of the United States is currently 72 % of the GDP, that is 11.5 Trillion US dollars, both internal and external. Yet, the External Debt (public and private) is 102 % of the GDP and that is almost 16 Trillion US dollars.

However, still yes, debt the size of a country’s GDP is very hard to pay unless the economy grows faster than the debt and it’s interest.