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11-13-2012, 12:48 PM
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#31
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DC Crew
Posts: 4,741
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Location: North of Illinois
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Quote:
Originally Posted by Fluffy
Just bear in mind that at the end of WWII, the world needed some rebuilding and the US was owed a lot of money from the losers.
you sure it's the same this time?
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I stand corrected, it is the same, alot of money is now owed to our government from us tax payers 
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"yeah though I walk through the valley of the shadow of rice, I will fear no turbo for torque art with me. Thy rods and thy crankshaft, they comfort me." |
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11-13-2012, 05:53 PM
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#32
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The Copy/Paste King
Posts: 22,254
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Location: In The Sticks
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Quote:
Originally Posted by the machine
Newb....after WWII our national debt was indeed 113% of GDP. Recently the CBO said that at the end of 2012 we would be near 70% of GDP. There certainly is time to fix what ails the country if we get seriuos. We certainly cannot tax enough to pay off the debt, but we can tax appropriatly while growing the economy, and cutting spending which will not only shrink the debt to GDP ratio but also pay down that debt. But the debt was not created in one day and we should certainly not try to pay it off in one day.  |
$639 trillion in derivatives..  3-5 light years, maybe.
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"If the American people ever allow the banks to control the issuance of their currency.. the banks and corporations that will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson |
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11-14-2012, 03:53 PM
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#33
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You've been pimped!!
Posts: 10,206
Member #80197
Member since: Jan 2009
Location: Orlando, FL
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Quote:
Originally Posted by Vette_Newb
$639 trillion in derivatives.. 3-5 light years, maybe. |
What does distance have to do with any of this? 
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"Alexa" - 1985 Z51 - In memory of the last Corvette Dad owned. |
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11-14-2012, 04:31 PM
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#34
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The Copy/Paste King
Posts: 22,254
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Member since: Dec 2003
Location: In The Sticks
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1989 L98 Coupe
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Quote:
Originally Posted by XQIZT
What does distance have to do with any of this? |
Anytime your trying to get from here to there, it requires distance.
We are closer to colonizing a planet 3 light years away, than we are to paying this debt off.
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"If the American people ever allow the banks to control the issuance of their currency.. the banks and corporations that will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson |
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11-14-2012, 04:38 PM
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#35
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You've been pimped!!
Posts: 10,206
Member #80197
Member since: Jan 2009
Location: Orlando, FL
My Corvette(s)
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Thanked 60 Times in 47 Posts
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Quote:
Originally Posted by Vette_Newb
Anytime your trying to get from here to there, it requires distance.
We are closer to colonizing a planet 3 light years away, than we are to paying this debt off. |
It also requires TIME.  But nice cover!
Look, the debt will never be paid off....at this point, all we can do is hope to slow how quickly we add to it.
Like others have said...its taken a long time to get to this point, and it'll take a long time...regardless of party in control...but rather an effort by the country as a united entity...to do anything significant about it.
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"Alexa" - 1985 Z51 - In memory of the last Corvette Dad owned. |
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11-14-2012, 04:48 PM
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#36
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The Copy/Paste King
Posts: 22,254
Member #6180
Member since: Dec 2003
Location: In The Sticks
My Corvette(s)
1989 L98 Coupe
Thanks: 50
Thanked 69 Times in 58 Posts
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Quote:
Originally Posted by XQIZT
It also requires TIME. But nice cover! |
Hey, I do what I can with limited time.. 
Quote:
Originally Posted by XQIZT
Look, the debt will never be paid off....at this point, all we can do is hope to slow how quickly we add to it.
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Well, we just went pedal-to-the-metal..
Quote:
Originally Posted by XQIZT
Like others have said...its taken a long time to get to this point, and it'll take a long time...regardless of party in control...but rather an effort by the country as a united entity...to do anything significant about it.
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Thge ONLY thing that can be done is to expose and expunge the insolvent mega-banks, expose and arrest the corrupt criminals in congress, replace the entire tax code with something realistic.
So nope, nothing will get done. If your in dollars, get out.
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"If the American people ever allow the banks to control the issuance of their currency.. the banks and corporations that will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered.” Thomas Jefferson |
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