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This was buried in the news feed today but thought it was worth giving a little bit of life.
From Yahoo! News: There has been no shortage of dire warnings about the mounting US national debt, but President Obama is now offering a different assessment: no big deal. “We don’t have an immediate crisis in terms of debt,” President Obama said in an exclusive interview with George...
No offense but i was kind of hoping for input from people with a little more understanding of the situation. You clearly have disregarded the effects of compound interest in your assessment.
Unaccredited Junior College diplomas and all aside, thanks though for your thoughts.
No I did not lose a sig bet, but I am really really really ridiculously good looking.
Well, this one has been around for a decade and has been growing at an accelerating rate. Which category does it fall under?
This post was edited by MrWoodson 13 months ago
We are spending 3x times more per month than we are taking in. Its pretty damn clear we have a fiscal crisis.
We no longer speak in terms of reducing true deficits but rather in terms of having a deficit less than the year before; yes we have a problem.
The largest holder of US Treasuries is China who is close to a bust in their construction bubble; yes this is a clear and present danger.
As I said you clearly lack the peripheral focus to understand the situation.
I recommend you read Micheal Lewis' Boomerang. It might help or maybe you can write a book report on it in your 300 level international financial markets class.
Thanks again though I get off work at 6:30 I will be ready then if you have any further questions.
This post was edited by LonestarAg 10 13 months ago
You see how that graph goes both up and down? Well, when it starts going up again (and it will), we are going to be effed. Every 1% increase in the treasury rate eats up an additional $160 billion of your hard earned tax dollars, or about 10% of the annual budget. We don't need Washington to cut the budget. The international capital markets are going to do it for them. Wait and see.
All this is a little over my head since I don't really pay attention to it but chill with the personal attacks. You presented things to him. No need to act like he is dumb even if you think he is. Have some respect for his opinion or ignore his posts.
This is to everyone: I'm getting real tired of posters downgrading other posters for their opinions. Present your facts and debate in a respectful way or I will start to take action in these political and religious threads.
This post was edited by kitemac 13 months ago
This is not true. The debt grows, but the deficit is lessening ... and is shrinking at the highest percentage in decades.
Deficit to GDP is decreasing.
On Twitter: @Niebuhr247
1.) great so some months we are only spending 2.8x more than we bring in (by the way you should go into politics you are really good at pointing to outliers to the ignorant masses)
2.)Projected? Clearly because math proves our 2% reduction in spending over the coming decade (from sequester) will zero our books.. right how about that whole kicking the can down the road thing? maybe another eleventh hour fiscal cliff deal with no spending cuts will tickle your pickle. Grow up kid.
3.) yes we are the largest holders simply because the Fed i.e. Bernanke has the ability to print and call back bonds as needed. In that since we have more or less an infinite amount. China holds the largest amount of finite T-bills and T-bonds; not domestic.
FYI that is a cute 10-year treasury graph you posted there. You do realize the T-bond dips when there is a large supply of cash being pumped into the banking system (QE3). While more money is available to lend basic commodity price will rise right?
But hey you clearly knew all this already correct?
Will be waiting on that witty retort coming laced with big words from that pocket dictionary you carry around with you to Starbucks.
I will give you a head start... Maybe look in the department of numbers and aggregate your own conclusions or retort rather than recite what some prof or pundit told you.
Yeah and do you know the drivers for that?
That aside debt isn't free it carries interest and Uncle Sam isn't going to be getting IO assurances anytime soon...as in ever.
Sorry kitemac... no offense to the kid just trying to inform the uninformed.
LonestarAg......please post here more often.
You bash a poster again and you will have to wait a while to respond anything to them. Stop bashing posters. Debate is fine but stop downgrading posters.
Is this a new rule? Cause it hasn't been applied much at all in a while. And he called him a kid. There's posters on here who cuss people out that goes unnoticed.
This post was edited by DrStache 13 months ago
I'm fine with you informing him. Stop with the bashing though. It doesn't help your debate. Like I said I really don't know much about this topic but when soemone jsut bashes another poster it makes them look bad. If you can't dominate him with knowledge that you have to belittle him then you're not doing it right.
It's being applied now.
Message board guidelines
Not trying to stir anything up sir but I used no profanity, induced any threat, or called any names.
Exactly. Nothing more than typical mods picking and choosing when to apply the rules. Far worse is on the front page now.
Isn't it kind of clear I am dominating him in knowledge? But yes point taken I will refrain from belittling his intelligence. I only ask that the favor is returned when he does the same in his 20,000+ posts.
once again sorry.
Or the ton of cuss words on this board on a daily basis
Personal attakcs of a poster don't have to include profanity, threats, or names.
The warning didn't just go to Lonestar. It's to you too.
Just wait until Obama care breaks us. It's already looking like its going to cost 2X what we were told and I'd be willing to bet that increases.
"People always ask me if I wish I were bigger. I tell them no. I always wanted to be a miniature badass." Dustin Pedroia
I try and do my best. Not around some of them time and honestly I don't care for the political threads.
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