US National Debt
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http://www.brillig.com/debt_clock/[^] Over 11 Trillion. How do we expect to pay this off? Each person has to pay an additional $36,760.61 in taxes in addition to the normal 3 trillion a year the government spends. However only about 130 million Americans are tax payers. The rest either unemployed for whatever reason or collecting welfare. http://www.federalbudget.com/[^] Each dollar is based on debt in the first place. After the fedres prints the money they loan it out at interest. So no matter what we will always be in debt. It is impossible to pay off all our debts with this system in place.
Your children and your grandchildren will appreciate your present day suffering. Yet financial suffering is not new. "in 1433, for example, war with France had led to a deficit of £30,000 – the equivalent of over £100 billion today." And, from their origin in the 12th century, some "tally sticks" remain today as an unpaid portion of National Debt. Perhaps you might prefer to have instilled into US Law the equivalent penalty of "being sent to the Tower of London" as stated "In 1711, the Treasury unveiled a scheme to secure government debt by authorising its subscription into the capital of the South Sea Company – government creditors received stock in the company. When the South Sea Bubble burst in 1720, however, thousands of investors were affected and the Chancellor of the Exchequer was sent to the Tower of London." (Both quotes from HM Treasury)
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Intel 4004 wrote: I do not collect welfare, I earn my money. You collect unemployment, not welfare - right? Troy was using the same dodge. Somehow if the government forced your employer to pay into a fund you two can suck on, it's different from welfare.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
Oakman wrote:
You collect unemployment, not welfare - right?
No, I've never collected unemployment even when I was entitled to it (I wish I would have though). The only welfare I have ever received is ONE MONTHS WORTH of foodstamps which was about 140 dollars.
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Your children and your grandchildren will appreciate your present day suffering. Yet financial suffering is not new. "in 1433, for example, war with France had led to a deficit of £30,000 – the equivalent of over £100 billion today." And, from their origin in the 12th century, some "tally sticks" remain today as an unpaid portion of National Debt. Perhaps you might prefer to have instilled into US Law the equivalent penalty of "being sent to the Tower of London" as stated "In 1711, the Treasury unveiled a scheme to secure government debt by authorising its subscription into the capital of the South Sea Company – government creditors received stock in the company. When the South Sea Bubble burst in 1720, however, thousands of investors were affected and the Chancellor of the Exchequer was sent to the Tower of London." (Both quotes from HM Treasury)
Richard A. Abbott wrote:
Perhaps you might prefer to have instilled into US Law the equivalent penalty of "being sent to the Tower of London"
I would prefer it if the government would stop wasting money.
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Richard A. Abbott wrote:
Perhaps you might prefer to have instilled into US Law the equivalent penalty of "being sent to the Tower of London"
I would prefer it if the government would stop wasting money.
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Oakman wrote:
You collect unemployment, not welfare - right?
No, I've never collected unemployment even when I was entitled to it (I wish I would have though). The only welfare I have ever received is ONE MONTHS WORTH of foodstamps which was about 140 dollars.
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Richard A. Abbott wrote:
Perhaps you might prefer to have instilled into US Law the equivalent penalty of "being sent to the Tower of London"
I would prefer it if the government would stop wasting money.
It's impossible to waste money that you can print at will.
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So who is paying your bills? Are you peddling your ass on Gay Street?
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
I make or have made money doing people's math homework, computer work, driving people, selling things, internet ad revenue, and various small jobs.
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I make or have made money doing people's math homework, computer work, driving people, selling things, internet ad revenue, and various small jobs.
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http://www.brillig.com/debt_clock/[^] Over 11 Trillion. How do we expect to pay this off? Each person has to pay an additional $36,760.61 in taxes in addition to the normal 3 trillion a year the government spends. However only about 130 million Americans are tax payers. The rest either unemployed for whatever reason or collecting welfare. http://www.federalbudget.com/[^] Each dollar is based on debt in the first place. After the fedres prints the money they loan it out at interest. So no matter what we will always be in debt. It is impossible to pay off all our debts with this system in place.
Intel 4004 wrote:
However only about 130 million Americans are tax payers.
Out of how many Americans ? What's the percentage ?
Intel 4004 wrote:
Over 11 Trillion. How do we expect to pay this off?
I suspect the only possible answer is, a war.
Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )
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Intel 4004 wrote:
However only about 130 million Americans are tax payers.
Out of how many Americans ? What's the percentage ?
Intel 4004 wrote:
Over 11 Trillion. How do we expect to pay this off?
I suspect the only possible answer is, a war.
Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )
Christian Graus wrote: I suspect the only possible answer is, a war. Or possibly a lynching. Roughly 50% of that debt is owed to U.S. citizens, either directly when they purchase T-bills or via the Social Security Trust Fund which has been forced, by law, to buy Treasury notes and only Treasury notes since its inception. The Trust fund theoretically has enough money to continue paying benefits until the middle of the century. However, that presuposes that starting somewhere around 2017, it starts cashing in the bonds it has been holding. The dirty little secret that Congress has been unwilling to admit to the American people is that, since Reagan began counting the purchase of those bonds as income without worrying about how it was to be paid off, they have been running what boils down to a ponzi scheme. Whenever you hear a Congress critter (Republicrat or Demmican) talking about "solving the social security problem," that's code for "Holy Shite! They're gonna frackin' kill us when they figure out what we have done."
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
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Intel 4004 wrote:
However only about 130 million Americans are tax payers.
Out of how many Americans ? What's the percentage ?
Intel 4004 wrote:
Over 11 Trillion. How do we expect to pay this off?
I suspect the only possible answer is, a war.
Christian Graus Driven to the arms of OSX by Vista. "I am new to programming world. I have been learning c# for about past four weeks. I am quite acquainted with the fundamentals of c#. Now I have to work on a project which converts given flat files to XML using the XML serialization method" - SK64 ( but the forums have stuff like this posted every day )
Na. Obama's figured it out. We're going to use the Zimbabwe solution: print money and pay your debts with worthless paper.
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You forgot being a short order cook and stealing from your employer until you were finally fired.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin
:laugh: :laugh: Memory of an elephant eh?
Knowledge is knowing that the tomato is a fruit. Wisdom is not putting it in fruit salad!! Booger Mobile - Camp Quality esCarpade 2010
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Na. Obama's figured it out. We're going to use the Zimbabwe solution: print money and pay your debts with worthless paper.
Rob Graham wrote:
print money and pay your debts with worthless paper.
That gets China, Japan and the senior citizens off his back (suuuuure it does) but the working citizens will have to come up with creative uses on their own: Up north they can burn it to keep warm in the winter. Down here, we can chop it up and throw it in with the garbage to stretch the slop for the hogs. No, I don't mean you can fuel your Harley with it, Mike.
Jon Smith & Wesson: The original point and click interface Both democrats and republicans are playing for the same team and it's not us. - Chris Austin