Ten Inconvenient Truths About The National Debt: It's Worse Than You Think...

[DontBeStupid]

Business are required to account for all unfunded liabilities. Not so for the federal government. Those unfunded liabilities are about to hit $120T.

A Government is not a Business. They each have different rules.

Also, again, you are dropping a number and not putting a timeframe on it. $120T over 10 years? 100 years? 1,000 years? You're not explaining, you're trying to just be scary.

Ah, the Omnipotent government opine. Swell. All Heil!

An unfunded liability is a liability That is not covered by an asset of equal or greater value.

Currently, I read that in order to fix the problem, we would need an increase in total GDP right now of around 24% and maintain it, not adjusted for inflation.

And you read this where? Again with the no link or support for your made up numbers!

And you talk about something not covered by an asset, but what assets are you counting? Or in this case, not counting?

 

[The T]

The conversation in this thread has been about the National Debt. NOT US Total Debt. If you want to talk about US Total Debt and its impact on the economy, I am more than happy to do that. Just realize you are changing the topic and that means you are ignoring the very facts that say our National Debt is not an issue right now and does not need to be paid down at any point in the near future.

Then YOU haven't been reading or selectively SO. LIAR.

National Debt is in the subject line of the thread.

And IT encompasses WHAT?

TRY again.

 

[DontBeStupid]

Then YOU haven't been reading or selectively SO. LIAR.

National Debt is in the subject line of the thread.

And IT encompasses WHAT?

TRY again.

Uhm, National Debt does not include US Total Debt.

I will use the link from TakeAStepBack to prove this.

U.S. National Debt Clock : Real Time

 

[TakeAStepBack]

A Government is not a Business. They each have different rules.

Also, again, you are dropping a number and not putting a timeframe on it. $120T over 10 years? 100 years? 1,000 years? You're not explaining, you're trying to just be scary.

Ah, the Omnipotent government opine. Swell. All Heil!

An unfunded liability is a liability That is not covered by an asset of equal or greater value.

Currently, I read that in order to fix the problem, we would need an increase in total GDP right now of around 24% and maintain it, not adjusted for inflation.

And you read this where? Again with the no link or support for your made up numbers!

And you talk about something not covered by an asset, but what assets are you counting? Or in this case, not counting?

I don;t recall where I read that information. Had I, I would have sourced it for you. I'm sure you can google it.

What assets am I counting? Are you for real, sir? The point is that an unfunded liability is one that HAS NO ASSET OF EQUAL OR GREATER VALUE AS COVERAGE.

The government "hopes" that in the future it will be able to pay those that have become part of its "payroll" in this regard.

OK, you're actually starting to annoy me like a five year old that keeps asking "why?"


I'll end my participation here by saying, "you are so right, man! Thanks for showing me that fiscal sanity is passe. I can now return to preparing to run my own real estate firm without fear."

 

[The T]

National Debt is in the subject line of the thread.

And IT encompasses WHAT?

TRY again.

Uhm, National Debt does not include US Total Debt.

I will use the link from TakeAStepBack to prove this.

U.S. National Debt Clock : Real Time

DEBT IS DEBT...

And You don't understand this HOW>?

 

[DontBeStupid]

Ah, the Omnipotent government opine. Swell. All Heil!

An unfunded liability is a liability That is not covered by an asset of equal or greater value.

Currently, I read that in order to fix the problem, we would need an increase in total GDP right now of around 24% and maintain it, not adjusted for inflation.

And you read this where? Again with the no link or support for your made up numbers!

And you talk about something not covered by an asset, but what assets are you counting? Or in this case, not counting?

I don;t recall where I read that information. Had I, I would have sourced it for you. I'm sure you can google it.

What assets am I counting? Are you for real, sir? The point is that an unfunded liability is one that HAS NO ASSET OF EQUAL OR GREATER VALUE AS COVERAGE.

The government "hopes" that in the future it will be able to pay those that have become part of its "payroll" in this regard.

OK, you're actually starting to annoy me like a five year old that keeps asking "why?"


I'll end my participation here by saying, "you are so right, man! Thanks for showing me that fiscal sanity is passe. I can now return to preparing to run my own real estate firm without fear."

I ask why because the more you try to explain your position the more it's clear you don't understand your position. For example, I'm asking about assets because if what you read was NOT counting all our GDP as an asset, that's not right. We choose to use 16% of our GDP to pay for the Government, but we could choose to use more. Therefore, not counting all our GDP as an asset is simply wrong.

Now, obviously, we don't want to use all our GDP, but we could use 20%. 25%. Counting that revenue stream as an asset gives us VERY different numbers than counting 16% as a revenue stream. These are questions you should be asking yourself while reading an article.

Anyway, have good night! Hopefully we can try this again some time!

 

[TakeAStepBack]

an unfunded liability is one that HAS NO ASSET OF EQUAL OR GREATER VALUE AS COVERAGE.

You're definitely running an impressive game of this.

 

[The T]

an unfunded liability is one that HAS NO ASSET OF EQUAL OR GREATER VALUE AS COVERAGE.

You're definitely running an impressive game of this.

An impressive game or depth of yaksqueeze.

DBS is dishing it out...and HE doesn't understand it.

 

[francoHFW]

Reagan tripled the debt, Boosh almost doubled it, the Pub Great Recession was 3x as bad as thought in 2008, and you are totally Pub duped. Change the channel.

 

[TakeAStepBack]

Reagan tripled the debt, Boosh almost doubled it, the Pub Great Recession was 3x as bad as thought in 2008, and you are totally Pub duped. Change the channel.

For some reason this drivel never disappoints. I giggle every time.

 

[francoHFW]

Keep laughing,stupid. Where am I wrong. What a pompus ass.

 

[eflatminor]

Keep laughing,stupid...What a pompus ass.

Pot, Kettle...I see you've met.

 

[TakeAStepBack]

Where are you wrong? It doesn't even make a coherent statement or sentence!!! Are you serious???
Every president since 1957 has added tot he debt, including the current president. You just like blue donkeys it seems. Not a fan of either party.

But pub dupes channel change er er er...is about as coherent as a kid with profanity turrets.

 

[francoHFW]

Memorize it, Pub dupe. I'm not pompous, I'm just right.

 

[TakeAStepBack]

I'm not memorizing your tourette, fella.

 

[TakeAStepBack]

[ame=http://www.youtube.com/watch?v=-fSnSFLquVU]Greatest Come Back Ever - YouTube[/ame]

 

[francoHFW]

Reagan tripled the debt, Boosh almost doubled it, the Pub Great Recession was 3x as bad as thought in 2008, and you are totally Pub duped. Change the channel.

You don't know what the Pub dupe channel is? See sig PP3.

You don't know what Neocon liars have given us? See above and sig pp1. Indies are almost as dumb as dupes...

 

[TakeAStepBack]

 

[francoHFW]

All that and no argument? Very impressive, chump.

 

[TakeAStepBack]

ROFLMAO. Thanks so much.