The Question No PROG Will Dare Answer

[BullKurtz]

I presume that by "progressives" you mean the people who control the FEDERAL RESERVE BANKS, the TREASURY, and the SIX TOO BIG TO FAIL BANKS in the USA?

Because they are the people who decide how much larger the debt load will be.

NOT the liberals, not the gun queers, not the hippies, nor the Christians, nor the negros nor the ofeys, not the Chinese, not the terrorists, not the neo-nazis....

the BANKSTERS

A FWIW, none of those people are posting on this board, lad.

Obama controls the Fed and the Treasury you fucking moron. He had his shot at the "banksters" in 2009 when they were called with their hats in their hands to the White House for a dressing down. Instead they were greeted with....nothing. Obama was clearly out of his depth and ended up making a plea for little more then future campaign funds. They left laughing. You must understand that you don't understand who runs what or how this economy works. So instead of playing the feeble-minded anarchist, listen to some speechs by Paul Ryan.

 

[BullKurtz]

Why you asking us?

You're the ones who repealed Glass-Steegall.

Clinton gutted and then signed the repeal of Glass-Steagall to enable his CRA...which ended up crashing the mortgage markets when the banks decided to bundle up his crap loans and sell them to the world.

 

[Billo_Really]

Clinton repealed Glass-Steegall.

Clinton signed it; Phil Gramm wrote it!

 

[BullKurtz]

Crickets.....as I suspected.

Hah hah so let me get this straight... you made a post at 11:33, then at 11:58 you triumphantly declare you've somehow stumped the forum because they are afraid to answer? What did you sit there for 25 minutes pressing the refresh key?

I'm not really sure what percentage of debt to GDP reaches into the range of unacceptable but I do know that the measure isn't adequate by itself to make any claim about the health of a country's economy, simple because there are so many wealthy countries with good standard living that have a high percentage (Japan, Belgium, Singapore, France) and many other very poor countries (North Korea, Angola, Cambodia, Algeria, Bolivia) with a relatively low debt to GDP.

BTW we've been OFFICIALLY BANKRUPT since the beginning of the year

What definition of "official" are you using here? Bankruptcy isn't defined by percentage of debt to income or ability to pay all debt at one time. I can have as much debt as I want, if I am making the payments to my creditors I'm not bankrupt, and I submit most Americans with a mortgage have debt far higher than their annual household income.

Bankruptcy means insolvent, unable to repay creditors as agreed. Despite the regularly scheduled political gamesmanship with budget showdowns the US has always been able to pay its creditors and has one of the highest credit ratings in the world.

No, bankruptcy means you have no possibily of ever escaping your debt...that's when most entities declare it. The debt is now at 107% of the year's GDP....that's Bankrupty by any standard. Our credit rating was recently downgraded. Barry the Fairy tried to cut Congress out of the debt-ceiling process last year.....the most blatant power-grab in the history of the executive branch. He was denied that power of course but it shows his desire to be an imperial president when he's barely bright enough to tie his own shoes.

 

[BullKurtz]

Clinton repealed Glass-Steegall.

Clinton signed it; Phil Gramm wrote it!

Either produce a NUMBER you aren't willing to let the debt go past or take a fucking hike.

 

[BullKurtz]

Uncomfortable, you are delusional. You are a source of humorous entertainment. Your about as bright as a mini-light with dead batteries.

Get your sorry ass out of this thread.

Now, now, Joe. Be nice.

Who?

 

[BullKurtz]

Uncomfortable, you are delusional. You are a source of humorous entertainment. Your about as bright as a mini-light with dead batteries.

Get your sorry ass out of this thread.

All of the marines I know swore an oath to uphold the Constitution and part of that was the right to freedom of speech. This is the first one I have ever come across who wants to deny someone the right to speak their mind. I guess no one ever told him that he doesn't get to order other posters around in this forum.

You don't know or have ever met a Marine....we don't hang out with dirtbag homos. This site supports thread-ownership so I can tell your sorry ass or anybody else to leave if you continue to troll the subject. If you had any manners or dignity you would comply.

 

[BullKurtz]

Ever notice who can and who can't admit when they are wrong?

It says volumes.

Thought you left in a HUFF......can't stay away can ya...my Marineness fascinates you.....gives ya a stiffy maybe.

Kindly refrain from projecting your own perversions onto others. Your OP is redundant but your behavior is still relevant. Deflection is a common tactic used by those who can't admit when they are wrong.

Fuck off and get out of this thread ya gutless hump....

 

[Camp]

Get your sorry ass out of this thread.

All of the marines I know swore an oath to uphold the Constitution and part of that was the right to freedom of speech. This is the first one I have ever come across who wants to deny someone the right to speak their mind. I guess no one ever told him that he doesn't get to order other posters around in this forum.

I don't believe a word she says. She got caught in a lie and didn't show the character or courage of a Marine to admit a mistake. My suspicion at this point is the Bull in her name is for Bull Dyke, as in Bull Dyke Dominatrix.

So, is your position that my analysis is not correct?

 

[BullKurtz]

I don't believe a word she says. She got caught in a lie and didn't show the character or courage of a Marine to admit a mistake. My suspicion at this point is the Bull in her name is for Bull Dyke, as in Bull Dyke Dominatrix.

Donate your tiny dick to science, Missy.....Maybe a wounded Vet could have it transplanted to work as a little finger.

 

[SteadyMercury]

The fact the Fortune 500 continues destroying our manufacturing base.

You are confusing manufacturing base with manufacturing employment, due to gains in productivity the US manufacturing output is far from destroyed:

No, bankruptcy means you have no possibily of ever escaping your debt...that's when most entities declare it. The debt is now at 107% of the year's GDP....that's Bankrupty by any standard.

Hah hah where did you learn that? The US has no intention of ever escaping their debt, neither do most other countries on this planet. The US debt was over 120% of GDP 65 years ago, yet here we are still one of the wealthiest countries in the world.

The definition of bankruptcy has nothing to do with whatever you make up to suit whatever ax you're grinding, it is an entity that is unable to pay their creditors. The US, Belgium, France, etc. are not bankrupt. By your definition most people with a mortgage are bankrupt.

Our credit rating was recently downgraded.

Downgraded to AA+ (excellent) oh my gosh end of days! That is how S&P usually rates entities that are bankrupt right? They rate them AA+ excellent.

 

[Rshermr]

Crickets.....as I suspected.

Hah hah so let me get this straight... you made a post at 11:33, then at 11:58 you triumphantly declare you've somehow stumped the forum because they are afraid to answer? What did you sit there for 25 minutes pressing the refresh key?

I'm not really sure what percentage of debt to GDP reaches into the range of unacceptable but I do know that the measure isn't adequate by itself to make any claim about the health of a country's economy, simple because there are so many wealthy countries with good standard living that have a high percentage (Japan, Belgium, Singapore, France) and many other very poor countries (North Korea, Angola, Cambodia, Algeria, Bolivia) with a relatively low debt to GDP.

BTW we've been OFFICIALLY BANKRUPT since the beginning of the year

What definition of "official" are you using here? Bankruptcy isn't defined by percentage of debt to income or ability to pay all debt at one time. I can have as much debt as I want, if I am making the payments to my creditors I'm not bankrupt, and I submit most Americans with a mortgage have debt far higher than their annual household income.

Bankruptcy means insolvent, unable to repay creditors as agreed. Despite the regularly scheduled political gamesmanship with budget showdowns the US has always been able to pay its creditors and has one of the highest credit ratings in the world.

No, bankruptcy means you have no possibily of ever escaping your debt...that's when most entities declare it. The debt is now at 107% of the year's GDP....that's Bankrupty by any standard. Our credit rating was recently downgraded. Barry the Fairy tried to cut Congress out of the debt-ceiling process last year.....the most blatant power-grab in the history of the executive branch. He was denied that power of course but it shows his desire to be an imperial president when he's barely bright enough to tie his own shoes.

Congratulations, me boy. An absolutely incredible statement of nonsense. We are not, nor have we ever been, bankrupt. That would be some statement from a bat shit crazy con web site. That only a delusional dipshit like your, me boy, would buy. But if you can find a single economist who says what you just said, I will apologize. I say that, dipshit, because I know you can not.

 

[Rshermr]

Clinton repealed Glass-Steegall.

Clinton signed it; Phil Gramm wrote it!

Either produce a NUMBER you aren't willing to let the debt go past or take a fucking hike.

Why, me boy? You are the tea party con. It is you who believe that the deficit is a problem. Even though it has decreased and is continuing to do so over the next few years, according to the cbo. Where is the problem, dipshit???

The deficit is steadily shrinking.
The federal budget deficit narrowed from more than 10 percent of the gross domestic product at the end of 2009 to 5.7 percent of GDP for the 12 months ended March 31 -- the smallest gap in four years, according to data compiled by Bloomberg.

With tax collections rising and spending growth slowing down, the deficit is on track to drop to 4 percent of the $16 trillion U.S. GDP for the fiscal year ending Sept. 30, according to a May forecast by the Congressional Budget Office. It will shrink to 3.4 percent of GDP next year, the CBO says, close to the 3.3 percent average over the past 30 years, according to Bloomberg data.
“When you look at the 10-year projections for the deficit and debt as a percentage of GDP, it’s not an issue,” said Jim O’Sullivan, chief U.S. economist for High Frequency Economics in Valhalla, New York.
At the same time, should House Republicans carry out a threat to default on U.S. debt, even if only for a day or two, “you’d never be able to reverse that,” O’Sullivan said. “You’d probably always have a little bit of an extra premium” that investors would demand on U.S. obligations.
Deficit Shrinks to 5.7% of GDP as Debt Ceiling No Vote Risks All - Bloomberg

So, over 95% of all economists say that the issue of concern is DEFAULTING ON THE DEBT. The debt, in terms of real value and in terms of the debt to gdp ratio, is DECREASING. And you, dipshit, are suddenly concerned about the deficit????? Even though you believe that the national debt, which continues to increase (as it nearly always does. You see, dipshit, it only decreases in real terms if there is a surplus. And since 1970, that has only happened under dem presidents).

You are way too stupid to argue economic issues. You have, however, proven to be dishonest. Which is perhaps what you intended. If it was something else, I have no idea of what you had in mind.

 

[BullKurtz]

I got my answer....not a single leftist appeared that knew anything about what the debt is doing to the USA or has any intention to find out. As far as the low-information voter is concerned, twerking with Miley is preferable to laying off the Soetoro Koolaid. They pay little if any taxes, suck in as much welfare as possible, and wallow in their hatred for those of us paying the bills.

Thanks to the Cons for your replies....once again we proved our opposition are sitting ducks for the shit tsunami that's up around the bend.

 

[Unkotare]

You consider yourself a conservative, Joe?

 

[Steven_R]

The fact the Fortune 500 continues destroying our manufacturing base.

You are confusing manufacturing base with manufacturing employment, due to gains in productivity the US manufacturing output is far from destroyed:

No, bankruptcy means you have no possibily of ever escaping your debt...that's when most entities declare it. The debt is now at 107% of the year's GDP....that's Bankrupty by any standard.

Hah hah where did you learn that? The US has no intention of ever escaping their debt, neither do most other countries on this planet. The US debt was over 120% of GDP 65 years ago, yet here we are still one of the wealthiest countries in the world.

The definition of bankruptcy has nothing to do with whatever you make up to suit whatever ax you're grinding, it is an entity that is unable to pay their creditors. The US, Belgium, France, etc. are not bankrupt. By your definition most people with a mortgage are bankrupt.

Our credit rating was recently downgraded.

Downgraded to AA+ (excellent) oh my gosh end of days! That is how S&P usually rates entities that are bankrupt right? They rate them AA+ excellent.

We're producing as much as we ever were, it just takes fewer people to do it and much of the lower tech production has been shifted overseas.

 

[BDBoop]

Ever notice who can and who can't admit when they are wrong?

It says volumes.

Thought you left in a HUFF......can't stay away can ya...my Marineness fascinates you.....gives ya a stiffy maybe.

[ame=http://www.youtube.com/watch?v=VX0SD_cazhs]You know how I know you're gay? - YouTube[/ame]

 

[jasonnfree]

You asked what level of debt is sustainable. I don't know but sometimes in these posts debt and deficit gets mixed up. However America is still probably the richest country in the world of all the large countries so I don't think were broke. I remember when people were worried about a quarter trillion debt or 250 billion. After reagan it was 3 trillion. Then after Bush it was 14 Trillion. Now it's 17 trillion and Obama didn't just withdraw 4 trillion and go on a spending binge since congress controls the purse strings anyway. Any way maybe the debt doesn't matter as long as we pay our bills and we do have the money for that and we will as long as we have a strong economy. I keep hearing we owe china etc and so on but if we keep buying chinese goods they keep accepting our dollars and then invest in our government securities or bonds. Kind of like a mutual relationship using economics. If China doesn't want our dollars we'll stop buying from them and produce here again.

Nope, when Bush43 left office, the debt stood at $10.6 after dealing with Clinton's dot.com bust, the 9/11 attacks, and two ME wars. Barry the Fairy has added $6T in useless spending since he took office in 2009.

http://www.cbsnews.com/8301-250_162-57572177/national-debt-up-$6-trillion-since-obama-took-office/

The debt "matters" because the interest on the debt sucks needed tax dollars out of our pockets we could use to enrich our own lives. You are $53,225 dollars in debt you may not know about....so is every person and child in the US. China is shying away from our T-Bills and buying gold with their surpluses. The fact the Fortune 500 continues destroying our manufacturing base by sending jobs there is what the real problem is. And of course China illegally undervalues it's currency keeping their exports to us cheap.

So BK you say our debt is 6 trillion more under Obama. How can it be Obama's fault if congress controls the purse strings? Also, congress has been in republican hands for over 2 1/2 years. The dems must have spent like crazy in Obama's first two years but even then, they only had the senate majority for a short time, What happened to the 6 trillion? What was it spent on especially since US spending has gone down under Obama? Link below.

Who Is The Smallest Government Spender Since Eisenhower? Would You Believe It's Barack Obama? - Forbes

 

[SteadyMercury]

I got my answer....

Yeah the answer was you quickly waded in over you head making shit up as you went along. Hearing you call others "low information voters" when you clearly don't even understand the definition of bankruptcy was a hoot.

We're producing as much as we ever were, it just takes fewer people to do it and much of the lower tech production has been shifted overseas.

Yup, exactly.

 

[Rshermr]

I got my answer....

Yeah the answer was you quickly waded in over you head making shit up as you went along. Hearing you call others "low information voters" when you clearly don't even understand the definition of bankruptcy was a hoot.

We're producing as much as we ever were, it just takes fewer people to do it and much of the lower tech production has been shifted overseas.

Yup, exactly.

Bullkurtz is off trying to figure out who to write a check to in order to pay his portion of the national debt. He is just SURE that someone in his family will have to pay it back to SOMEONE. Of course, he can not find a case when that EVER happened, even when the national debt was considerably higher than it is today as a percent of GDP.
Now, his other problem is that he can not find a case when the national debt EVER caused a case of economic collapse. Problem is, when the deficit was increasing the most was in RESPONSE to an economic decline, and only got smaller AFTER it was increased and the UNEMPLOYMENT RATE became low.

So, Bull is off perusing the bat shit crazy con web sites, who will provide him with an interesting response. Which the rational community of humans will recognize as untrue. But, thing is, Bull believes what he wants to believe. And he loves the bat shit crazy con web sites, because they make him mad. And Bull loves being mad.

Again. It is a documented mental condition that Bull is afflicted with. So, it is not his fault. Just plain bad luck.