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How REAL is the "deficit"?

bruchibruchi Senior MemberPosts: 2,581 Senior Member
I mean, so much money is spent on useless stuff and more so there is so much overpaying of stuff and waste that I "wonder" how real this is?

Then who the hell do we owe all this money to?

Printed numbers, reports, charts, "whatever" on white paper and politicians do not make anything real IMO!

Another tool to dupe us into thinking those running things are indispensable, the ultimate "shell game"?
If this post is non welcomed, I can always give you a recipe for making "tostones".


  • NomadacNomadac Senior Member Posts: 902 Senior Member
    Our Fiscal Debt and Excessive Spending is a serious as a Heart Attack. http://www.usdebtclock.org/ When you perpetually Spend more then you take in Revenue the interest on the debt is unsustainable, as it will continue to rise, eventually you will go bankrupt and the economy will collapse. Just watch what is happening in the E.U. countries, i.e. Greece, etc.
  • shootbrownelkshootbrownelk Senior Member Posts: 2,035 Senior Member
    IMO, China is buying up the United States lock, stock & barrel. Our government owes China big-time!
  • horselipshorselips Senior Member Posts: 3,628 Senior Member
    When you start paying the taxes that must eventually be levied to satify the debt, then you'll know how 'real' the debt is.
  • agewonagewon Senior Member Posts: 655 Senior Member
    I believe China holds somewhere around 16% of our debt. What's scary is that every time they play kick the can on the Hill, it puts our rating in jeopardy, like the last time one of the rating houses dropped our rating because of the inability to agree to raise the debt ceiling.
    IMO, the mentality on the Hill is to spend but not regulate or monitor. I just read today that we spent over several billion to fund nursing homes that don't even meet the minimum requirements set by the fed in 2010. But we keep paying. And the mentality of "let's just tax more" is not the answer. If we can learn anything it's that once you give them an inch, they'll take a yard. And before you know it, the 450k$ income bracket tax hike will eventually become the 100k.
    Essentially, we borrow 50cents to every dollar we spend. Now how will that ever end is my question.
  • bruchibruchi Senior Member Posts: 2,581 Senior Member
    So we spend a lot more than we take in... we then borrow from some source to fill that void and due to this we have to pay interest on what we borrow.....simple enough?

    On one hand it is said that the US is the richest country in the world, the one with the deepest pockets, who the hell is doing the lending, what it is being used as collateral, the White House, government land, nuclear submarines, movie stars, gold reserves, good faith?
    If this post is non welcomed, I can always give you a recipe for making "tostones".
  • JeeperJeeper Senior Member Posts: 2,954 Senior Member
    Essentially nothing. We just print more money.

    Wielding the Hammer of Thor first requires you to lift and carry the Hammer of Thor. - Bigslug
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