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For someone that actually read a Mike Lewis book I thought you might understand the difference between debt and deficit.
Look at the projected annual budget deficit for 2013, and compare to 2012, 2011.
Then look up the definition of debt and deficit.
Then, since you are so concerned about "compound interest", and you are good at posting graphs from the internet. Please link a source that shows the amount of interest payments per year in the annual budget since 1990, in inflation adjusted dollars. It may blow your mind. But we are currently paying less annually in interest payments that we were in the mid 1990s.
Government Debt gets refinanced over time, and the US government is benefiting from current Treasury Bond rates.
Laws of math...? Your personal salary has no correlation with the functions and spending of the most powerful government in the world. A government which has a currency that happens to be the reserve of the entire world.
I imagine you paid for your community college degree, your home, and your car, in straight cash, since "if I spend more than I make then I worn run out of money and be broke"
We aren't in a debt crisis.
Spend less time reading 1 book by a journalist, and more time looking at the mathematical data and you will see that you aren't smarter than the basic laws of math.
We have a long term structural deficit, which has existed for 30 years minus 3 under Clinton, yet the US government hasn't collapsed. As long as we cut defense spending, increase revenue, cut discretionary spending, and reform "entitlements", everything will be okay in the long run.
So I wouldn't purchase that bunker in North Dakota just yet. I know it sounds cool, but the Obama-Gestapo isn't going to create a Zombie apocalypse anytime soon.
Quit being silly and look at the data. You aren't smarter than institutional investors and Soveriegn Nations that spend billions on US debt.
Not sure how a "real estate" bubble in China has any effect on their investment in US T-bonds. If anything they would just spend more on T-bills while they tear down neighborhoods to limit the oversupply that causes bubbles. The Chinese and American economies are two different animals.
I'm out of up votes...
Now I get it....
Here is a nice chart from our right wing friends at the heritage foundation.
Take at look at net interest payments in 2012 dollars.
Kind of pokes giant hole in your "compound interest" argument. We are paying 30% less annually than in 1990 with a much larger deficit. It will likely decrease even as the debt expands while much of the debt rolls over to current rates.
Then take a look at annual deficit from 2008 -2012
Clearly shows a decreasing deficit each year. Its around $900 billion for 2013
And before you go calling Obama a free spending socialist fascist monkey man. Take into account the $400 to $500 billion in decreased revenues annually after 2008 (its clearly in the chart) thanks to a recession created by his predecessors and a Tax Cut law that never attempted to decrease revenues going forward.
The Federal Budget 1992 2012
This post has been edited 3 times, most recently by rms02d 16 months ago
Do you support abortion and full federal legalization of gay marriages?
Wayyy too much logic here
At the risk of sounding rude to someone who is trying to promote civility, pick a thread, dude. This board is a cesspool.
I like your style
Any books you recommend for a novice at this stuff?
University of Alabama: The high mark of college football since 1892
I don't support state funded abortion under any circumstance. but essentially abortion is a gray area, I feel you should never under any circumstance bring harm against another.
Marriage is no business of the State. The term marriage to me, serves a religious bond between two PEOPLE. Therefore, determining what is defined as "marriage" should be left up to the churches, cults, and any other denomination of faith or lack thereof. The Government can however define domestic partnerships, or something in the sense, which gives legal rights between the two citizens. If the state chooses it can give rights to the legal union of two PEOPLE, notice I said PEOPLE, then the same rights of a partnership should be given to a couple of the same sex.
For personal finance?
Well since Mr. Lonestar has ZEROOO understating of Macro economics and government finance, yes personal finance would be a good start.
Mr Lonestar might want to research his comment about China owning the most T-bills.
People that know what they are talking about might think he is kind of ignorant when he says stuff like that.
This post was edited by rms02d 16 months ago
yeah that'll work
Ironic is Ironic with this comment.
Really ignorant post here. I hope you aren't allowed to vote.
personal attack AAAAAAAAAH!
more personal attack!!!
pointing out the inaccuracies in his argument and saying that it is ignorant is hardly a personal attack.
Especially when he cites an erroneous figure while calling another person stupid.
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