Obamadebt, $19 Trillion And Climbing!!

[OldCoyote]

Seven years into Obama term, this is what we have,  So put your spin on it!


www.aol.com/article/2016/02/02/the-national-debt-climbs-above-19-trillion/21306383/?icid=maing-grid7%7Cmain5%7Cdl5%7Csec1_lnk2%26pLid%3D182994133

[Virgil Showlion]

At least it's not 20 trillion.

Unless you count agency debt, in which case the number is closer to $25 trillion.

Fear not, Coyote. Just fudge your GDP numbers sufficiently to limit the increase in your debt-to-GDP, sit back, and let the debt roll in worry-free.  Dr. Krugman would approve.

[mroped]

From what I read, most countries are in debt. Question is who holds all the debt? Who has a positive balance?

National debt of this size is worrisome. That puts US at about 130% of GDP or about $600000.00 per individual.
The Treasury is playing with fire.

[b2r]

    He did what?

[Virgil Showlion]

Feb 2, 2016 8:20:53 GMT -5 mroped said:

From what I read, most countries are in debt. Question is who holds all the debt? Who has a positive balance?

National debt of this size is worrisome. That puts US at about 130% of GDP or about $600000.00 per individual.
The Treasury is playing with fire.

There are a few nations with no debt, but they're small.

Debt is held by you and me, indirectly. If you own mutual funds or CDs, those are at least partly backed by government debt. Pension funds, college and university endowments, investment firms, corporations, cities, states all hold government debt as a hedge, an investment, or both. During quantitative easing, central banks purchase government debt and monetize it (hold it on their books and issue a comparable amount of "cash" [credit]), not unlike a government writing itself a cheque.

People sometimes fall into the trap of believing that debt isn't such a big deal because debt "cancels out", but this is hopelessly ignorant. Our entire social and financial infrastructure rests on creditors being paid, obligations being met, and big financial institutions being unencumbered. 2007 was a small foretaste of what can happen when an unwind propagates through the system. Equities crash, companies go bankrupt, unemployment skyrockets, and the economy rapidly contracts. They reversed the 2007/2008 crash (to a degree) with a trillion-dollar bailout and approximately $4 trillion in Fed asset purchases, but they've emptied their clip now. The next time an unwind of that magnitude occurs, look out below.

[dondub]

A bit misleading that you lay it all on Obama. It's more like the RonnieWHussein Debt.

[OldCoyote]

But Obama was going to fix everything in the first six weeks of his first term, or at least that what my liberal friend were telling me.

[Virgil Showlion]

If Pres. Bush had served four terms instead of two, the past seven years would have been exactly the same except for the PPACA, immigration EOs, and shuttering of the coal industry.

Pres. Obama is simply the face of a political establishment that needs no one man to accomplish its goals.

[OldCoyote]

Actually I know that, what we are is no super super giant ship that the rudder is locked, no one is able to turn this ship.

So every one that could together repair the rudder have political blinders on, So now we are headed full steam towards the huge financial iceberg,  

just like the unsinkable ship called the Titanic!

[wyouser]

Don't you find it fascinating that there is almost total silence from both parties on this? Have I heard right that the budget office is saying the growth of the debt speeds up from here forward?

[ken a.k.a OMK]

It's Obamadebt because he started with zero?

[djAdvocate]

Feb 2, 2016 7:42:27 GMT -5 OldCoyote said:

Seven years into Obama term, this is what we have,  So put your spin on it!


www.aol.com/article/2016/02/02/the-national-debt-climbs-above-19-trillion/21306383/?icid=maing-grid7%7Cmain5%7Cdl5%7Csec1_lnk2%26pLid%3D182994133

[djAdvocate]

Feb 2, 2016 11:37:47 GMT -5 wyouser said:

Don't you find it fascinating that there is almost total silence from both parties on this? Have I heard right that the budget office is saying the growth of the debt speeds up from here forward?

really depends on who is running the show.

in 2000, the CBO was predicting surpluses going forward. 

[djAdvocate]

Feb 2, 2016 11:10:43 GMT -5 OldCoyote said:

But Obama was going to fix everything in the first six weeks of his first term, or at least that what my liberal friend were telling me.

what liberal friends?

[djAdvocate]

Feb 2, 2016 8:20:53 GMT -5 mroped said:

From what I read, most countries are in debt. Question is who holds all the debt? Who has a positive balance?

National debt of this size is worrisome. That puts US at about 130% of GDP or about $600000.00 per individual.
The Treasury is playing with fire.

check your math.  i think it is $60k/person.

also, GDP per capita is $53k, so it puts us at 113%, not 130%.

[OldCoyote]

Feb 2, 2016 12:12:59 GMT -5 djAdvocate said:

Feb 2, 2016 11:10:43 GMT -5 OldCoyote said:

But Obama was going to fix everything in the first six weeks of his first term, or at least that what my liberal friend were telling me.

what liberal friends?

One of my very close friends FIL was a Super Delegate for Obama out of California the first time around.

Or so I was told.

[Deleted]

Feb 2, 2016 7:42:27 GMT -5 OldCoyote said:

Seven years into Obama term, this is what we have,  So put your spin on it!


www.aol.com/article/2016/02/02/the-national-debt-climbs-above-19-trillion/21306383/?icid=maing-grid7%7Cmain5%7Cdl5%7Csec1_lnk2%26pLid%3D182994133

It is crap to call it Obama debt.  I will bet you any amount of money you want to bet that no matter who is the next president, the debt will go up massively.  Blame Obama, blame Bush.  People don't care.  Do you care?  What politicians are you supporting that are going to do something about the debt other then flap their lips about it.  You want the debt to go down, the next time some politician suggests cutting the spending on something you like, get on board, instead of pointing your finger at something you dislike.  There is no serious politician who has any plans to cut debt.  Rand Paul, who was a bit of a hope for me, wants to raise spending on military.

The answer is going to be outside of government.  Learn to grow food, find alternative schooling, get private arbitration to solve disputes.  Let the government roll on until it collapses.  It is not Obama or Bush.  It is the country that elects them.  You can't change them, so build a better place for when circumstances change them.

[djAdvocate]

Feb 2, 2016 12:21:19 GMT -5 OldCoyote said:

Feb 2, 2016 12:12:59 GMT -5 djAdvocate said:

what liberal friends?

One of my very close friends FIL was a Super Delegate for Obama out of California the first time around.

Or so I was told.

sounds like you have more liberal friends than i do. 

[mroped]

Ok dj, I checked my math. It appears that I got too excited with the zeros. They never end so I had 15 of them instead of 12.
So yeah, it looks like we are $58000 and some change per capita at 325 million people.

Last I checked, and it was a while ago, the US GDP was 15 trillion or about. Dividing 19 to 15 it gives you a 1.26 which is .13 higher than 1.13 and that is a considerable percentage in my opinion.

I just found the last GDP posted for Q2 of 2015 that puts US at 17.98 trillion.
And that is good news because acording to that we are at just 1.05% which is ever gooder that even your 113%.

And to think I was so worried about this number! Oh my, what are we gonna do! It is the end as we know it!

Whom here realy cares or is affected by the fact that national debt exceeded 19 trillion?
Because I don't and I'm not!

[djAdvocate]

Feb 2, 2016 14:27:06 GMT -5 mroped said:

Ok dj, I checked my math. It appears that I got too excited with the zeros. They never end so I had 15 of them instead of 12.
So yeah, it looks like we are $58000 and some change per capita at 325 million people.

Last I checked, and it was a while ago, the US GDP was 15 trillion or about. Dividing 19 to 15 it gives you a 1.26 which is .13 higher than 1.13 and that is a considerable percentage in my opinion.

USGDP was 16.77T in 2013.  it is higher now.  so you are off by a bit.

I just found the last GDP posted for Q2 of 2015 that puts US at 17.98 trillion.
And that is good news because acording to that we are at just 1.05% which is ever gooder that even your 113%.

i couldn't find the 2015 number, and that is indeed better.

And to think I was so worried about this number! Oh my, what are we gonna do! It is the end as we know it!

Whom here realy cares or is affected by the fact that national debt exceeded 19 trillion?
Because I don't and I'm not!

well, i care.

but let's think about this for a second.

let's say your income is $58k per year.  let's say you are trying to buy a $60k house.  would the bank even think twice about that?

these numbers matter.  i think it is important to have perspective about them, as well.

so, yes, the US is the most indebted nation in the history of nations.  fine.  but Japan has had a debt of 200% GDP for over three decades.  does anyone talk about the impending crisis in Japan?  no.  the next question is: WHY?  let me know when you find the answer.  but do give it some thought.  it is very soothing.  more soothing than being utterly terrified by our impending doom.

[b2r]

$158,836 per taxpayer...Back To Work!   www.usdebtclock.org/

[Aman A.K.A. Ahamburger]

Nothing but crickets, EH b2?

The forced labour camps of the future? Where you make over 100k a year? Only in America you say?

Feb 2, 2016 11:31:10 GMT -5 OldCoyote said:

Actually I know that, what we are is no super super giant ship that the rudder is locked, no one is able to turn this ship.

So every one that could together repair the rudder have political blinders on, So now we are headed full steam towards the huge financial iceberg,  

just like the unsinkable ship called the Titanic!

NAH! Not quite that bad, my friend - you guys are still the best of the worst... However, a Global market correction of historic proportions is in the cards - no doubt about that. Stay