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Obama: paying down the debt

Discussion in 'Political Issues' started by podwich, May 5, 2012.

  1. podwich

    podwich

    4,431
    102
    Sep 7, 2000
    MI
    I came across this quote today- apparently Obama has this in his weekly address:

    From http://www.whitehouse.gov/the-press-office/2012/05/05/weekly-address-new-chapter-afghanistan

    Seeing as the deficit for 2012 was about twice the entire budget for the DOD, how exactly is borrowing money (and, in addition, only putting half of that borrowed money to pay down debt) going to actually reduce the debt?

    Government. :upeyes:
     
  2. Still won't solve the main issue...SPENDING.

    Until reforms and/or Medicare and Socialist Security is reformed, the debt is a side issue.
     


  3. aircarver

    aircarver Ride Continues Silver Member

    He's FOS , as usual....

    Spouts BS, looks like a good guy (to the idiots...)

    and comes up with more money to spend......:upeyes:
    [while merely undermining the defense of the US...]

    The problem is, his electorate was morons, and it must ever be such if he's to be 're-elected'

    We not only have to ride along, we're expected to paddle the boat.... :steamed:

    .
     
  4. Gunnut 45/454

    Gunnut 45/454

    12,129
    9
    Jun 20, 2002
    Well it's obvious -you can be a complete idiot and go to Harvard and get a Nobel! His is a master of BS though!:steamed:
     
  5. certifiedfunds

    certifiedfunds Tewwowist

    52,463
    4,791
    Apr 23, 2008
    Houston
    Correct.

    The debt isn't even the issue. It is manageable and resolvable with a healthy economy.

    The real issue is deficit and trajectory, and social programs are the culprit.
     
  6. series1811

    series1811 Enforcerator. CLM

    Easy. He's talking to the idiots who voted for him in the first place.

    Or people who don't know how to operate calculators (probably a lot of overlap in those two groups anyway).
     
  7. It is mathematically impossible to pay off the debt. The US just continues to go bankrupt every decade or so and reorganizes. Only most people don't know that because they don't understand how the system works.

    The system is set up to enslave the masses with debt and capture their labor with that.
     
  8. pugman

    pugman

    6,148
    314
    May 16, 2003
    Wisconsin
    And we have a winner.

    The problem is the money being spent is deficit spending.

    A friend has this very problem - they finally paid off nearly $10,000 in credit card bills and what did they decide to do with the money they were giving the credit card company every month?

    Buy a new car to replace a perfectly good 5 year old vehicle?

    His thought process which makes no sense - now we are paying towards an asset?

    And this is how many Americans think...

    Actually it is possible. Granted it would mean some serious program cuts, an increase in taxes, benefits being cut back but it can be done...oh and it needs a balanced budget or more correctly a surplus budget. This in turn would mean you have half the country up in arms as they are in fact now working for the federal government as we fork over 25-50% of our paychecks

    The problem is no politican would ever push for it because its political suicide.
     
    Last edited: May 6, 2012
  9. certifiedfunds

    certifiedfunds Tewwowist

    52,463
    4,791
    Apr 23, 2008
    Houston
    That's actually incorrect. It's very doable with cuts and growth. But it doesn't even need to be paid off. It is very serviceable.

    The problem, what is mathematically impossible, are the projections in entitlement spending.
     
    Last edited: May 6, 2012
  10. series1811

    series1811 Enforcerator. CLM

    And, cutting entitlements, is something that would take political guts, the likes of which we haven't seen in some time.

    Which begs the question, how do you fix the problem if you can't fix the problem?
     
  11. pugman

    pugman

    6,148
    314
    May 16, 2003
    Wisconsin
    CF has it.

    The latest projection over the next 30 years is the federal government has $211 Trillion dollars in long term obligations and promises. Look at it in the simplest of terms: 211/30 = over $7 trillion dollars a year.

    The fed took in just over 2.1 Trillion in 2010. Objectively, the financial model of the U.S government will eventually fail without intervention very, very soon.

    Add to it the fact today there are 7 people paying into the entitlement programs for every person receiving benefits and this will fall to 4 -1 pretty quickly; the model is starting to crumble.