-Espiritu-
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Where will our debt be after Obama's second term?
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Tych2
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Where will our debt be after Obama's second term?
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Higher than where it is now.
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Taliesihne
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Where will our debt be after Obama's second term?
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Where is the 'who cares' option?
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Ashmaele
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Where will our debt be after Obama's second term?
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About the same as it will be after Santorum/Romney/Paul/Gingrich's first term.
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Azure-TheBlueOne
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Where will our debt be after Obama's second term?
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Tych2 posted:
Higher than where it is now.
Ashmaele posted:
About the same as it [would] be after Santorum/Romney/Gingrich's first term.
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Moe_Nox
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Where will our debt be after Obama's second term?
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Taliesihne posted:
Where is the 'it doesn't matter because he is a Dem' option?
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Bjorvald
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Where will our debt be after Obama's second term?
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I'm guessing 22 trillion (16 trillion + 1.5 trillion more per year of a second term). It's all funny money anyway, none of it will ever be paid back. Maturing bonds will just be replaced by new bonds and we'll continue to borrow more and more to pay the interest on a larger and larger amount of debt until it all implodes.
Divide 22 trillion by the number of working adults in the US for a nice /laugh.
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-Espiritu-
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Where will our debt be after Obama's second term?
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Ashmaele posted:
About the same as it will be after Santorum/Romney/Paul/Gingrich's first term.
I agree that it will be more than $20 Trillion regardless of who wins.
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-Espiritu-
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Where will our debt be after Obama's second term?
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Taliesihne posted:
Where is the 'who cares' option?
If this is your opinion, you are essentially the average American. Used to be a time that was a good thing. Today, well... I'm not sure that is where you want to be.
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theredkay1
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Where will our debt be after Obama's second term?
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It will be a really big number. If interest rates are low, the cost will be minimal. If interest rates are high, that means the economy is booming. Either way, it doesnt reall matter.
The thing that matters is what we are spending money on and are we doing it efficiently. Worrying solely about dollar numbers is for dummies.
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theredkay1
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Where will our debt be after Obama's second term?
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Bjorvald posted:
Maturing bonds will just be replaced by new bonds and we'll continue to borrow more and more to pay the interest on a larger and larger amount of debt until it all implodes.
Why would it implode?
Why hasnt it already happened? Is it because 15 trillion is a small number but 22 trillion is a big number?
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-Espiritu-
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Where will our debt be after Obama's second term?
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theredkay1 posted:
Bjorvald posted:
Maturing bonds will just be replaced by new bonds and we'll continue to borrow more and more to pay the interest on a larger and larger amount of debt until it all implodes.
Why would it implode?
Why hasnt it already happened? Is it because 15 trillion is a small number but 22 trillion is a big number?
Why do we need to collect taxes at all then? Just finance our government expenditures on the constant rolling over of our bonds.
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ZigmundZag
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Where will our debt be after Obama's second term?
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-Espiritu- posted:
Why do we need to collect taxes at all then? Just finance our government expenditures on the constant rolling over of our bonds.
Now you're thinking like a Republican!
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-Espiritu-
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Where will our debt be after Obama's second term?
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ZigmundZag posted:
-Espiritu- posted:
Why do we need to collect taxes at all then? Just finance our government expenditures on the constant rolling over of our bonds.
Now you're thinking like a Republican!
definitely. Any future GOP candidates at any level should be forced to go through a Paul Ryan re-education camp so they understand that fiscal conservatism is related to spending and not taxation.
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theredkay1
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Where will our debt be after Obama's second term?
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-Espiritu- posted:
theredkay1 posted:
Bjorvald posted:
Maturing bonds will just be replaced by new bonds and we'll continue to borrow more and more to pay the interest on a larger and larger amount of debt until it all implodes.
Why would it implode?
Why hasnt it already happened? Is it because 15 trillion is a small number but 22 trillion is a big number?
Why do we need to collect taxes at all then? Just finance our government expenditures on the constant rolling over of our bonds.
Your idea is an interesting one. Perhaps you should flesh it out more.
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Abaddon_Ambrosius
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Where will our debt be after Obama's second term?
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theredkay1 posted:
Theft is good. Stick it to 'em and strip away the last vestige of respectability governments had left.
F*ck you?
Yeah. I'll go with that.
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theredkay1
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I appreciate you dropping your usual pretense of having an actual argument. Efficiency is a good thing. Usually you needed 3 posts of tripping over yourself before you got there. Progress! 
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Groucho48
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Once again...
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Abaddon_Ambrosius
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Where will our debt be after Obama's second term?
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Groucho48 posted:
Once again...
Once again, the Laffer curve is not invalid. The only question is WHERE is the fulcrum point between tax cuts and revenue increases.
So, once again, you can stop wasting your time showing that chart.
And keep in mind... I think Bush was a total moron.
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DemonicXH
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Where will our debt be after Obama's second term?
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Abaddon_Ambrosius posted:
And keep in mind... I think Bush was a total moron.
Absolutely, but who else are they going to blame!
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Sin_of_Onin
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Where will our debt be after Obama's second term?
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When addressing the Federal debt it is easy to point fingers and lay blame but that just distracts from the harsh reality that if we are going to fix the debt there are groups of people that will have to pay a price. Who here likes small busnesses? Old people? The middle class? Well guess what, they are going to pay a price of fixing this mess.
Now listen to politicians talk and you will quickly see that very few of them want to bang that point home. They will talk about attacking government but forget to mention that really means the middle class will pay a price. It is easier to talk entities like corporations and the government than it is to talk about the impact changes have on people.
IMO the middle class needs to get selfish.
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theredkay1
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Where will our debt be after Obama's second term?
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A much more important question is where will employment, GDP, incomes and productivity be in 2016?
Will we have a college football playoff? Will there be even more talent shows on TV? Hoverboards yet?
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Scarne
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Where will our debt be after Obama's second term?
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-Espiritu- posted:
definitely. Any future GOP candidates at any level should be forced to go through a Paul Ryan re-education camp so they understand that fiscal conservatism is related to spending and not taxation.
Paul Ryan's budget was entirely based on magic that lowering taxes even more would drive unemployment down to 3% within a few months. 
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__Bonk__
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Where will our debt be after Obama's second term?
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Things wont be fixed anytime soon. The out of control spending must be controlled AND taxes need to be raised
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Elkad
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Where will our debt be after Obama's second term?
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Where's the "Zero because we defaulted" option?
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Abaddon_Ambrosius
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Where will our debt be after Obama's second term?
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Elkad posted:
Where's the "Zero because we defaulted" option?
Ah, yes.
You're referring to the vaunted "Greek Protocol".
Aptly named on multiple fronts.
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Bobvillas
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Where will our debt be after Obama's second term?
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If interest rates normalize to their 30 year average of 6% (vs. 2% in 2010) coupled with our below average debt maturities (that have kept the Treasuries borrowing costs down) normalizing then we are screwed.
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SoBaKi
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Where will our debt be after Obama's second term?
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-Espiritu- posted:
We will definitely be passed $16.3T before the election... but I'm using ~ $16T as the basis for these projections.
You didn't phucking care during the 8 years of bush, why are you concerned all of a sudden?
espoogeu posted:
THAT BLACK MAN PHUCKED ME AND MY WIFE!
Oh, now I understand.
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__Bonk__
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Where will our debt be after Obama's second term?
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Obama is in Washington State fundraising at taxpayer expense. Airforce one and all that security must be expensive.
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dae_trist
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Where will our debt be after Obama's second term?
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SoBaKi posted:
-Espiritu- posted:
We will definitely be passed $16.3T before the election... but I'm using ~ $16T as the basis for these projections.
You didn't phucking care during the 8 years of bush, why are you concerned all of a sudden?
espoogeu posted:
THAT BLACK MAN PHUCKED ME AND MY WIFE!
Oh, now I understand.
espoogeu 
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