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Thread: Cut America's Debt

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    Senior Member Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero's Avatar
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    Default Cut America's Debt

    Maybe someone should email this to the President?

    http://www.nytimes.com/interactive/2...s-graphic.html

  2. #2
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    Default Re: Cut America's Debt

    Uh, yeah, the US hit the point of no return long ago.

    Even, if, we were to- today, reduce government spending to 0% (the most unrealistic amount possible) it would still take YEARS, if not decades to return to just break even.

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    Default Re: Cut America's Debt

    Okay, say that there are 150 million working people ( I don't know how many are working, so go along with it ) and paid exactly $10,000 a year on a $15 trillion dollar debt. It would take out 1.5 trillion a year and would take ten years to pay off, but not every american can afford ten grand a year. Some make less than that, so it would take a lot longer to pay off, more like hundreds of years with the rate we spend. We may not be able to clear our debt at all.
    There is no absolute right and wrong. People judge as right what they personally consider pleasant, and judge as wrong what they personally consider unpleasant. Convincing others of what is right cannot be equated with teaching the Truth. It is just teaching others to agree with you. It is not about putting an end to error, but putting an end to opinions contrary to your own perceptions.
    ~Lao Tzu

  4. #4
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    Default Re: Cut America's Debt

    ...Yeah, pretty much gave up any interest or any real hope on the States straightening its spending out quite a while ago. Best just to focus on one's self and plan ahead, financially speaking, as best you can.

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  5. #5
    Awaken Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1 has a reputation beyond repute Ericgamer1's Avatar
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    Default Re: Cut America's Debt

    Quote Originally Posted by Shinn Kamiyra View Post
    ...Yeah, pretty much gave up any interest or any real hope on the States straightening its spending out quite a while ago. Best just to focus on one's self and plan ahead, financially speaking, as best you can.
    It's not that the US isn't willing, so much as it's actually infeasible!

    Emergencies happen, and you need to pay for it somehow. It's like if you got into a big time accident, and went to the doctor without health insurance, it's not that you don't want to pay the medical expenses, but you can't. What are you going to do? take out a loan? You'd be paying that back longer than you'd probably live!

    Your only option left, is to crash your credit and file bankruptcy.


    For the US, that is the only option, and is only a matter of time. How that will play out and what will happen, I don't know..
    Last edited by Ericgamer1; 02-17-2011 at 04:11 PM.

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    Default Re: Cut America's Debt

    That application seemed to indicate that the entire debt can be cut by reducing military spending and enforcing taxes on the wealthy. Seems sensible to me.

  7. #7
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    Default Re: Cut America's Debt

    Quote Originally Posted by Ericgamer1 View Post
    It's not that the US isn't willing, so much as it's actually infeasible!

    Emergencies happen, and you need to pay for it somehow. It's like if you got into a big time accident, and went to the doctor without health insurance, it's not that you don't want to pay the medical expenses, but you can't. What are you going to do? take out a loan? You'd be paying that back longer than you'd probably live!

    Your only option left, is to crash your credit and file bankruptcy.


    For the US, that is the only option, and is only a matter of time. How that will play out and what will happen, I don't know..
    If we're going to be talking taking out loans, the States have been doing more than enough of that as of late; with China as a prime example.

    @ bold: Well that certainly is a likely option; however, there's no real telling what will happen from this point on anyway. Though if something to that extreme were to happen, I would hope it still a fair ways away...
    Last edited by Shinn Kamiyra; 02-17-2011 at 04:37 PM.

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  8. #8
    Senior Member Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero has a reputation beyond repute Skilero's Avatar
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    Default Re: Cut America's Debt

    Quote Originally Posted by Shinn Kamiyra View Post
    If we're going to be talking taking out loans, the States have been doing more than enough of that as of late; with China as a prime example.
    Speaking of which, I find it amazing more Americans don't know about this. I'll give them the benefit of the doubt and assume the Chinese really do enjoy those profitable investments they're making in the States as much as we do.

  9. #9
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    Default Re: Cut America's Debt

    Quote Originally Posted by Sasorikiller View Post
    Speaking of which, I find it amazing more Americans don't know about this. I'll give them the benefit of the doubt and assume the Chinese really do enjoy those profitable investments they're making in the States as much as we do.
    China totally just wants to invest more in the US as a friendly ally. There's no way they are planning to hold the US's debt hostage in order to further their own interests.

  10. #10
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    Default Re: Cut America's Debt

    How bout America seduces China and gets married. Then you can get divorced and BOOM! Hello payday!
    This is a Sig. It's horribly out of date.

  11. #11
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    Default Re: Cut America's Debt

    Cut the defense budget, raise taxes. Never gonna happen, though.


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    Default Re: Cut America's Debt

    Quote Originally Posted by miniPhil View Post
    How bout America seduces China and gets married. Then you can get divorced and BOOM! Hello payday!
    They'll probably break up even before they get married due to their inability to reach a prenuptial agreement. XD

  13. #13
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    Default Re: Cut America's Debt

    Well, we could do the Hitler method and just print a ton of money...

    Or we could do the Lincoln method and issue a ton of US Notes. http://en.wikipedia.org/wiki/United_States_Note

    No matter what we do, we're either paying the debt forever, or hyperinflating our currency. The biggest problem with hyperinflation is the chaos it would bring initially. After income caught up with expenses, there wouldn't be a problem. Question is how long would that take?

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