This Is One Scary Clock

just..............checking

Let me guess, you guys are afraid that the Chinese are going to enslave you when they come to collect the money that we owe them?

Shit, I should be afraid to cross the street too huh?

Nah, we will just follow California's example and just give iou's, I am sure China will hold them in good esteem. Did you not notice when China was pushing to get the dollar replaced as the world currency, why do you think they want that? just being silly i guess.

Let me guess, you guys are afraid that the Chinese are going to enslave you when they come to collect the money that we owe them?

Shit, I should be afraid to cross the street too huh?

Said the guy who knows squadoosh about economics.

Here's a stupid question, but I'm going to ask it anyway. What happens if the US just says, we're not going to pay anybody and anyone who has a problem with that can talk to the Department of Defense? Is our GNP insufficient to pay for our various programs, if you take all lending out of the picture?

Here's a stupid question, but I'm going to ask it anyway. What happens if the US just says, we're not going to pay anybody and anyone who has a problem with that can talk to the Department of Defense? Is our GNP insufficient to pay for our various programs, if you take all lending out of the picture?

This is basically what the deficit is. We are spending more than what we take in, hence we borrow to make up the difference. And some reasonable level of deficit spending is not an awful thing, certainly we expect that our country will not suddenly lose it's ability to produce wealth, which is why other countries are willing to lend to us in the first place. The debatable question is what is a reasonable level of deficit spending. And should the country ever be forced to balance its books, even if its only every couple years.

If we did as you suggest, and certainly we could, it would change our role in the world. Do you think anyone would trust the US dollar, buy US goods, or believe that our military was defensive in nature(not that they all do now, but I am speaking of countries like the EU/Japan, those who treat us as good faith partners).

So even though we could, we shouldn't.

Just about all people in the US if they own a home run on a deficit but that is usually just a 2 to 3 times our anual income. The problem here is that the goverment seems to always run in a deficit and at some point it has to stop.

Said the guy who knows squadoosh about economics.


Even the guys that know about economics don't know squadoosh about economics.

Edit: You are right I know less than most. At this time I am just going to refrain from making any more comments about the world financial clock, our national debt or economics. Ignorance is bliss and at this point this stuff doesn't scare me. Maybe it should but honestly I don't care.

I'm surprised it didn't just explode when President Obama signed his Spending Package.

Government debt = future taxes.

Except this one is real and has been put into over-drive by the current Administration's budget.

Bush = $ 500B deficit, pretty damn bad

Obama = $ 1.6T deficit (at a minimum), really, really, damn bad.

if anybody remembers what happened to the russians after they left afghanistan.they were broke from all the military spending to conduct all their wars and compete against us in the cold war.All that money we spent in the last 6 months to bail out the big banks could have been given to the people to pay down those bad mortgages so people would not leave that house and there would be no need to forclose.But the system is corrupt and broken with few chances of repair.FOOTBALL AND BEER TO ALL AMEN