US reached debt ceiling...again

Hard Rain said:
Who needs to cut spending when you control the central bank and can just debase what you owe; kicking the consequences down the road to some other poor saps? ;-)
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This.

Unfortunately this is what will happen... they will just pass the buck. It's easier to pass the buck than to take it like a man.
 
The_Librarian said:
This.

Unfortunately this is what will happen... they will just pass the buck. It's easier to pass the buck than to [-]take it like a man[/-] tell the electorate that this generation will need to suffer due to their own greed and thereby dash your own chances of re-election
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ftfy. same story. different country. always the same outcome.
 
On Subject I love this vid

[video=youtube;Jjv-MtGpj2U]http://www.youtube.com/watch?v=Jjv-MtGpj2U[/video]
 
Alan said:
Spend less than you bring in.:whistle:
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LOL alan yes ok great idea but how?

When you have an army fighting overseas sucking you dry how do you cut down? Pull everyone home and stop waging war? Now that would be something, the US not waging war?

Not going to happen and until it does they will continue to hit the ceiling. The taliban said their plan was to destroy america financially, thus far the plan seems to be working well.

America can just continue to lift the ceiling but perhaps they should shoot higher, instead of trying to kid us and fool themselves look at it realistically and they need a ceiling of about 30 trillion, so raise it and let's all carry on with our lives.
 
lol good point Alf

killadoob said:
When you have an army fighting overseas sucking you dry how do you cut down? Pull everyone home and stop waging war? Now that would be something, the US not waging war?

Not going to happen and until it does they will continue to hit the ceiling. The taliban said their plan was to destroy america financially, thus far the plan seems to be working well.
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the cost of the wars is around $150billion the deficit is over $1.1 trillion. Hell remove the entire defence budget and they'd still have almost half a trillion dollar deficit.
 
Alan said:
the cost of the wars is around $150billion the deficit is over $1.1 trillion. Hell remove the entire defence budget and they'd still have almost half a trillion dollar deficit.
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Total cost?
 
Randhir said:
Total cost?
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naaa i am sure he talking yearly but even that figure i reckon is far too low.

Not sure how alan figures they spend only 150 billion. Damn aircon sets them back 20 billion a year.

http://en.wikipedia.org/wiki/Military_budget_of_the_United_States


Holy cow Interest on debt incurred in past wars $109.1–$431.5 billion Between 23% and 91% of total interest.

They better raise that ceiling a good few trillion because wow 1 trillion in 2012 is going to hurt.
 
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killadoob said:
WFT is going to be coming in 2012, when you need to double your budget you must surely be expecting more wars on a big scale as well, twice as big as iraq and afghanistan. Like i said i may have read it wrong :D.
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Maybe they expect the 21 December invasion ;)
 
killadoob said:
No i saw it was interest so i remove that part :D
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Dam, now you spoiled my foil hat sales.... dont be like that :)

I think the biggest part of the US Debt delema is Interest, the more debt to more you have to pay. Its a viscous circle they are finding themselves in. In order to get out of it they have to either pay off some debt or make more just so they can move the problem to later.
 
alf101 said:
But have you not been saying that the US / NATO have been invading oil rich countries to steal their oil.

Surely they can use that money to pay their debt?
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I didn't know the US had oil. I always understood they set-up cushy deals for private companies (Influence of lobbyists) to get oil. In which case, they then have to tax those private companies only. If they tax everyone then that means everyone funds the private companies oil as well as the wars.
 
Elimentals said:
Dam, now you spoiled my foil hat sales.... dont be like that :)

I think the biggest part of the US Debt delema is Interest, the more debt to more you have to pay. Its a viscous circle they are finding themselves in. In order to get out of it they have to either pay off some debt or make more just so they can move the problem to later.
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In real life you stop spending when you are in debt, in the fantasy the world you just keep spending and printing money. The US live in a fantasy world because there is not a single country on the planet that has an unlimited budget but for some reason they have unlimited money to spend even if they don't have the money they still have unlimited spending. Sounds like something out of a fiction novel :D
 
killadoob said:
Alan bush started this, Obama walked into a sinking a ship. It's the same as becoming the CEO of a company in debt and then when it gets further in debt you get blamed even though the old CEO was the idiot who started it.

Sadly playing the blame game makes little to no difference, they should be looking for solution not placing blame.
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Way I see it is the 'negative growth' :) is not as fast as before. It's like having no brakes on a bike. You put your best slops on the tarmac and grind your heels in and hope for the best. You eventually slow down and stop but in reality, even if you had a way of stopping dead immediately, you wouldn't survive it.

The brakes on the US economy have been broken. For the anti US among us, just wait until they stop bailing Africa out. It's coming right back at us. But then sink or swim is the only way. Be prepared to sink a bit.
 
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killadoob said:
In real life you stop spending when you are in debt, in the fantasy the world you just keep spending and printing money. The US live in a fantasy world because there is not a single country on the planet that has an unlimited budget but for some reason they have unlimited money to spend even if they don't have the money they still have unlimited spending. Sounds like something out of a fiction novel :D
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Their spending is only "unlimited" so long as others are willing to accept their currency in exchange. There are limits to debasement, but modern economists don't seem to believe in this...
 
SaladCharger said:
The brakes on the US economy have been broken. For the anti US among us, just wait until they stop bailing Africa out. It's coming right back at us. But then sink or swim is the only way. Be prepared to sink a bit.
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Bailing africa out, do you mean giving billions to corrupt governments so they can destroy africa? Africa would be better off without hand outs, all the hand outs do is enrich the governments in africa. How much of that aid gets taken by corrupt government officials and how much actually helps the people of africa? If the US really wanted to help africa they would remove the shocking leaders in power and they would not be giving them billions. Read this article http://www.npr.org/templates/story/story.php?storyId=17095866

Snippet: Skeptics complain that much of the money given to help Africans has been stolen by corrupt African leaders. They say that stolen aid money helps keep such leaders in power, and that aid that does get to the people undermines their ability to fend for themselves.

Surely america should be thinking about america and not africa though? it must suck having your president bailing out all these corrupt governments in africa while destroying their own country financially.

Why does the US support so many african leaders? They don't deserve the support yet billions are given each year to these corrupt country destroyers. Go in take them out like they did in liyba, naaa i suppose pretending to give shyte by throwing at the problem is the best way. Sadly not for the people of africa. We need to have an african spring and cutting africa off may just bring it on or the leaders will realize they need to make money now, no more hand outs. Get the country going or else you starve, at the moment their people starve while they live in mansions and live like kings, why are they rewarded for destroying countries?
 
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Who cares about their foreign aid budget? It's spit in the ocean...
 
Hard Rain said:
Who cares about their foreign aid budget? It's spit in the ocean...
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Yup but when you have unlimited funds giving away a few billion must be very easy, i know i would hand out money like crazy if i had no limits. Hey absa gooi us another 200 million, my china's need new cars :p Yes sir, perhaps you would like 500 million just in case they want ferrari's, ahhhhh absa you beauty very good point. What a life!!!!!!!
 
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