National Debt

[serpentdove]

[U.S. debt headed toward Greek levels by Jason Russell] "United States' projected debt over the next 25 years looks a lot like Greece's over the past 25.

With all the chaos unravelling in Greece, Congress would be wise to do what it takes to avoid reaching Greek debt levels. But it's not a matter of sticking to the status quo and avoiding bad decisions that would put the budget on a Greek-like path, because the budget is on that path already.

A quarter-century ago, Greek debt levels were roughly 75 percent of Greece's economy — about equal to what the U.S. has now. As of 2014, Greek debt levels are about 177 percent of national GDP. Now, the country is considering defaulting on its loans and uncertainty is gripping the economy..." Full text: U.S. debt headed toward Greek levels Pr 22:7, Hab 1:1-17, 2:1-10 more

 

[Nick M]

We have far more debt that Greece, right now. And it isn't even close. I am not talking percentages, but actual dollars.

 

[Jose Fly]

Except our debt is issued in currency that we have total control over. Greece's debt OTOH is in Euros, which they have almost no control over.

Completely different situations.

 

[Tinark]

Japan's debt percentage is 226% of its economy, yet its interest rate on 10 year debt is a quarter of the rate the US pays. Almost no one worries about a Japanese debt default any time soon.

 

[Nick M]

Completely different situations.

Of course it is different. Our debt is 30 times greater. And China holds us hostage with our debt. For anybody who is concerned and doesn't seem to see many people saying much on Fox News, watch this video with Obama's 2012 budget. They are the numbers from the White House. They are his numbers. Then stock pile your ammo like I have been doing since 2009.

US Debt Dilemma

 

[Daniel1611]

The federal reserve holds us hostage with debt. If the Fed is not dismantled, the debt cannot be fixed. Fiat currency is debt itself.

 

[Nick M]

The federal reserve holds us hostage with debt. If the Fed is not dismantled, the debt cannot be fixed. Fiat currency is debt itself.

You are clearly an imbecile. Or evil. I haven't decided. Gold based money has the same results as money sold into the economy as interest. Plutocracy. There was no debt with the green back, which is why Lincoln was shot.

 

[serpentdove]

Lew: USA goes broke next month Pr 22:7, Hab 1:1-17, 2:1-10

 

[serpentdove]

Boehner-Obama Spending Deals Have Increased Debt $3,970,023,503,348.07 Pr 22:7, Hab 1:1-17, 2:1-10

 

[Nick M]

A RINO working with Obama? No way. :noway:

 

[serpentdove]

Massive Debt, Budget Deal Introduced In Dead of Night, Vote Violates Another Boehner Pledge Pr 22:7, Hab 1:1-17, 2:1-10

 

[chrysostom]

[U.S. debt headed toward Greek levels by Jason Russell] "United States' projected debt over the next 25 years looks a lot like Greece's over the past 25.

With all the chaos unravelling in Greece, Congress would be wise to do what it takes to avoid reaching Greek debt levels. But it's not a matter of sticking to the status quo and avoiding bad decisions that would put the budget on a Greek-like path, because the budget is on that path already.

A quarter-century ago, Greek debt levels were roughly 75 percent of Greece's economy — about equal to what the U.S. has now. As of 2014, Greek debt levels are about 177 percent of national GDP. Now, the country is considering defaulting on its loans and uncertainty is gripping the economy..." Full text: U.S. debt headed toward Greek levels Pr 22:7

Also see:

Debt Ceiling

I gave you a positive rep
but
you should know
that
most will shoot the messenger

they don't want to hear this
they want to pretend everyone else will continue to pretend
that
it is not a problem

 

[Jose Fly]

People who try and compare Greece's situation with the US are only showing how little they know about monetary policy.

 

[rexlunae]

We have far more debt that Greece, right now. And it isn't even close. I am not talking percentages, but actual dollars.

Right, that's the only way to make it work out. In terms of actual percentage, it's a lot lower. But the absolute dollar amount doesn't really tell you much.

Of course it is different. Our debt is 30 times greater.

Sure. But our economy is more than 30 times greater. It's about 71 times greater, in fact. And, as was already mentioned, we control our currency.

And China holds us hostage with our debt.

China only holds 6-7% of our debt. It's a lot, and they hold more than anyone else, but it's hardly calamitous. And they've been selling it off like mad recently, and it hasn't hurt us so far.

China holds our debt in reserve. It's a sign of US strength, not weakness.

Then stock pile your ammo like I have been doing since 2009.

:kookoo:

 

[serpentdove]

Debt Under Obama Up $8,000,000,000,000 :Nineveh: Pr 22:7, Hab 1:1-17, 2:1-10

 

[chrysostom]

can you pay your share?

 

[Nick M]

Sure. But our economy is more than 30 times greater. It's about 71 times greater, in fact. And, as was already mentioned, we control our currency.

China has not bought their debt, and the EU stopped doing it. We are going down that road. My ammo is for the rioters, not rebellion against the Commander-n-Thief.

 

[rexlunae]

can you pay your share?

Yes. So far, at least.

The debt will likely never be paid off. But it will be paid. And that won't cause a problem.

 

[rexlunae]

China has not bought their debt, and the EU stopped doing it.

That's what happens when you start seriously talking about defaulting. For that matter, China hasn't been buying a lot of our debt lately, and it doesn't hurt us much.

We are going down that road.

Not so far. And if we do, it will likely be by choice.

My ammo is for the rioters, not rebellion against the Commander-n-Thief.

That doesn't make it any more reasonable.

 

[kmoney]

You are clearly an imbecile. Or evil. I haven't decided. Gold based money has the same results as money sold into the economy as interest. Plutocracy. There was no debt with the green back, which is why Lincoln was shot.

We should go back to the greenbacks.