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Old 06-22-2011, 12:17 PM  
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A National Debt Parody

H: Both my credit cards were refused at the gas station.

W: I forgot to tell you all our cards are maxed out.

H: I guess we need to pay them down some.

W: How much would we have to pay?

H: The required four percent of our balance would be a third of our income.

W: How long would it take to pay them off and get out of this cycle?

H: A quick calculation shows it would take over fifty years.

W: We can?t afford a third of our salary for over fifty years.

H: I?ll see if I can get some more credit cards.
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Old 06-23-2011, 02:57 PM  
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eh, not a great parody as it's not that similar, we could pay down some debt easily if we would drop the bush tax credits and make our department of defense actually focus on defense instead of spending many times as much to be the world's police force
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Old 06-23-2011, 03:18 PM  
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Also, Our government still desperately needs the gasoline, so what do you do? Can't just set there!
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Old 06-23-2011, 03:37 PM  
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Originally Posted by RedJeepXJ View Post
eh, not a great parody as it's not that similar, we could pay down some debt easily if we would drop the bush tax credits and make our department of defense actually focus on defense instead of spending many times as much to be the world's police force
It quickly became clear NATO is a paper tiger these days. The Brits are radically reducing their military and France and Britain NEEDED US Airpower to deal with a 3rd rate sandpit.

There was never much more than Al Qaeda tents in Afghanistan and no Al Qaeda presence at all under Saddam in Iraq.
Save the policing for genocide when it appears but not for Karzai.
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Old 06-23-2011, 04:01 PM  
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Anybody, anything, CAN be debt free. I have no credit card, I have title on all vehicles (daily drivers 2007/2011 vehicles) and my 80 acres free as well as the hse on it. Never say CAN'T because it only means you don't want to. The US can but won't get out of debt., any household can and should get out too . . . they just won't. I am neither a "rocket scientist" nor an "economic brainiac" Just an idiot like everybody else who finally said, "am I gonna whine about, or DO about it?"
I suppose if my wife and I were still blaming each other like the Bushicans and Obamacrats, we would STILL be in debt up to our flippin GIZZERDS.
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Old 06-24-2011, 08:49 AM  
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Quote:
Originally Posted by Musicinabottle View Post
Also, Our government still desperately needs the gasoline, so what do you do? Can't just set there!
Get more credit cards and let those wee ones on tricycles worry about it someday.


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Originally Posted by HiHood View Post
Anybody, anything, CAN be debt free. I have no credit card, I have title on all vehicles (daily drivers 2007/2011 vehicles) and my 80 acres free as well as the hse on it. Never say CAN'T because it only means you don't want to. The US can but won't get out of debt., any household can and should get out too . . . they just won't. I am neither a "rocket scientist" nor an "economic brainiac" Just an idiot like everybody else who finally said, "am I gonna whine about, or DO about it?"
I suppose if my wife and I were still blaming each other like the Bushicans and Obamacrats, we would STILL be in debt up to our flippin GIZZERDS.
Great post! I am debt free and have been for 50 years. Maybe debt status of politicians should be a determining factor. Maybe it should be part of an IQ test as well.
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Old 06-24-2011, 09:11 AM  
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Originally Posted by HiHood View Post
Anybody, anything, CAN be debt free. I have no credit card, I have title on all vehicles (daily drivers 2007/2011 vehicles) and my 80 acres free as well as the hse on it. Never say CAN'T because it only means you don't want to. The US can but won't get out of debt., any household can and should get out too . . . they just won't. I am neither a "rocket scientist" nor an "economic brainiac" Just an idiot like everybody else who finally said, "am I gonna whine about, or DO about it?"
I suppose if my wife and I were still blaming each other like the Bushicans and Obamacrats, we would STILL be in debt up to our flippin GIZZERDS.
Is there any country out there other than say.... Iraq, that doesn't owe money? I always thought that the US was in a bit of a debt since the beginning. I know that we picked up Alaska and Hawaii on credit. I remember the republicans back in Reagans day saying that the debt was only on paper. Perhaps it's more complicated than running a single household. The United States has had public debt since its inception. Debts incurred during the American Revolutionary War and under the Articles of Confederation led to the first yearly reported value of $75,463,476.52 on January 1, 1791. From 1796 to 1811 there were 14 surpluses and only 2 deficits. The first dramatic growth spurt of the debt occurred because of the War of 1812. In the first 20 years following the War of 1812, 18 surpluses were experienced and the US paid off 99.97% of its debt.

The second dramatic growth spurt of the debt occurred because of the Civil War. The debt was just $65 million in 1860, but passed $1 billion in 1863 and had reached $2.7 billion following the war. In the following 47 years America returned to the practice of running surpluses during times of peace experiencing 36 surpluses and only 11 deficits. During this period 55% of the US national debt was paid off.

The next period of major growth in debt came during WWI reaching $25.5 billion at its conclusion. It was followed by 11 straight surpluses and saw the debt reduced by 36%.

Social programs enacted during the Great Depression and the buildup and involvement in World War II during the F.D. Roosevelt and Truman presidencies in the 1930s and '40s caused the largest increase - a sixteenfold increase in the gross public debt from $16 billion in 1930 to $260 billion in 1950. When Roosevelt took office in 1933, the national debt was almost $20 billion; a sum equal to 20 percent of the U.S. gross domestic product (GDP). During its first term, the Roosevelt administration ran large annual deficits between 2 and 5 percent of GDP. By 1936, the national debt had increased to $33.7 billion or approximately 40 percent of GDP.[9]

After this period, the growth of the gross public debt closely matched the rate of inflation where it tripled in size from $260 billion in 1950 to around $909 billion in 1980. Gross debt in nominal dollars quadrupled during the Reagan and Bush presidencies from 1980 to 1992. The net public debt quintupled in nominal terms.

In nominal dollars the net public debt rose and then fell between 1992 and 2000 from $3T in 1992 to $3.4T in 2000. During the administration of President George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008.[3] Under President Barack Obama, the debt increased from $10.7 trillion to $14.2 trillion by February 2011.[10]
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Old 06-24-2011, 09:37 AM  
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Originally Posted by Musicinabottle View Post
.... Under President Barack Obama, the debt increased from $10.7 trillion to $14.2 trillion by February 2011.[10]
think that is a little unfair, much of that increase was begun under bush and Obama counted the war expenditures where bush did not, so the money was already spent just not completely on the books, what policies did obama do to actually increase the deficits is what is important to look at, and I think when you do you might be surprised.

the biggest benefit to republicans was obama winning, all the spending needed to rescue the economy (including spending done by bush and the republicans) could then be blamed on Obama

How Trillion-Dollar Deficits Were Created - Interactive Graphic - NYTimes.com
I know a little old, but what programs that add to the debt (which excludes healthcare reform as it actually reduces it) has obama created? and how does it compare to the debt amount?
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Old 06-24-2011, 09:44 AM  
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Quote:
Originally Posted by RedJeepXJ View Post
think that is a little unfair, much of that increase was begun under bush and Obama counted the war expenditures where bush did not, so the money was already spent just not completely on the books, what policies did obama do to actually increase the deficits is what is important to look at, and I think when you do you might be surprised.

the biggest benefit to republicans was obama winning, all the spending needed to rescue the economy (including spending done by bush and the republicans) could then be blamed on Obama

How Trillion-Dollar Deficits Were Created - Interactive Graphic - NYTimes.com
I know a little old, but what programs that add to the debt (which excludes healthcare reform as it actually reduces it) has obama created? and how does it compare to the debt amount?
and here we go again . . . the Bushicans blame the Obamacrats and the Obamacrats blame the Bushicans and nothing happens but an arguement.
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Old 06-24-2011, 09:52 AM  
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Quote:
Originally Posted by Musicinabottle View Post
Is there any country out there other than say.... Iraq, that doesn't owe money? I always thought that the US was in a bit of a debt since the beginning. I know that we picked up Alaska and Hawaii on credit. I remember the republicans back in Reagans day saying that the debt was only on paper. Perhaps it's more complicated than running a single household. The United States has had public debt since its inception. Debts incurred during the American Revolutionary War and under the Articles of Confederation led to the first yearly reported value of $75,463,476.52 on January 1, 1791. From 1796 to 1811 there were 14 surpluses and only 2 deficits. The first dramatic growth spurt of the debt occurred because of the War of 1812. In the first 20 years following the War of 1812, 18 surpluses were experienced and the US paid off 99.97% of its debt.

The second dramatic growth spurt of the debt occurred because of the Civil War. The debt was just $65 million in 1860, but passed $1 billion in 1863 and had reached $2.7 billion following the war. In the following 47 years America returned to the practice of running surpluses during times of peace experiencing 36 surpluses and only 11 deficits. During this period 55% of the US national debt was paid off.

The next period of major growth in debt came during WWI reaching $25.5 billion at its conclusion. It was followed by 11 straight surpluses and saw the debt reduced by 36%.

Social programs enacted during the Great Depression and the buildup and involvement in World War II during the F.D. Roosevelt and Truman presidencies in the 1930s and '40s caused the largest increase - a sixteenfold increase in the gross public debt from $16 billion in 1930 to $260 billion in 1950. When Roosevelt took office in 1933, the national debt was almost $20 billion; a sum equal to 20 percent of the U.S. gross domestic product (GDP). During its first term, the Roosevelt administration ran large annual deficits between 2 and 5 percent of GDP. By 1936, the national debt had increased to $33.7 billion or approximately 40 percent of GDP.[9]

After this period, the growth of the gross public debt closely matched the rate of inflation where it tripled in size from $260 billion in 1950 to around $909 billion in 1980. Gross debt in nominal dollars quadrupled during the Reagan and Bush presidencies from 1980 to 1992. The net public debt quintupled in nominal terms.

In nominal dollars the net public debt rose and then fell between 1992 and 2000 from $3T in 1992 to $3.4T in 2000. During the administration of President George W. Bush, the gross public debt increased from $5.7 trillion in January 2001 to $10.7 trillion by December 2008.[3] Under President Barack Obama, the debt increased from $10.7 trillion to $14.2 trillion by February 2011.[10]
And it mostly boils down to WAR . . . and we need to think about that, who elected US the world wide police force and if it was the majority of other countries, can we afford to accept. I never said it was easy or that it happened over night, in fact it took me over 10 yrs to accomplish this small scale achievement. We should only be out to defend our best interests although much of that was. Viet Nam, Korea, etc., shouldn't have happened. It acomplished nothing and cost a fortune to the tax payers.
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