4 ms·

Inflation may be non-existant now, but you can't owe forever, otherwise the concept of debt and the money you owe is imaginary and useless. When those we owe ar

by devmonk 16y ago

Inflation may be non-existant now, but you can't owe forever, otherwise the concept of debt and the money you owe is imaginary and useless. When those we owe are tired of us owing and not paying and they are able to live without us, where are we then? Growth implies that we are making money. We aren't. Our country is bankrupt so many times over, it would be hilarious if it weren't so freakin' pathetic. Go ahead an vote Democratic if you want to focus domestic growth and large gov't, and increase debt. Go ahead and vote Republican if you want to make cuts, but then reinvest those cuts back into other programs, and increase debt. Go ahead and vote Libertarian if you are allowed to or want to write them in; they won't get anything done because there aren't enough of them, and the only ones that make it into office are going to want to play politics like everyone else. Or find out who the deficit hawks that you find in our gov't and vote for them.

cschneid 16y ago
As of July 28, 2010, the "Total Public Debt Outstanding" was approximately 93% of annual GDP. -- Wikipedia It'd suck, but we could pay that off in 20 years if we cut the budget to something maintainable. Not optimal, but nowhere near your "so broke hurf durf, never pay it off".
- technomancy 16y ago
  > if we cut the budget to something maintainable ... which would be in the best interests of the country, but against the best interests of a given single politician, so it's very unlikely.
  - cschneid 16y ago
    I agree, it'd be a very hard political decision. But the hurf-durf about us being beyond-broke is overblown, at least currently. I do however agree that the trajectory we are on is going to screw us.
- devmonk 16y ago
  U.S. debt held by public as % of GDP projected at 230% by 2035 and 1000% by 2080 at current rate by Peterson Foundation (a non-politically affiliated NPR sponsor): http://www.pgpf.org/~/media/PGPF/Media/PDF/2010/04/16/04162010_Fiscal_Outlook_G2_mmp.ashx http://www.pgpf.org/~/media/PGPF/Media/PDF/2010/04/16/041620... For more numbers: http://www.pgpf.org/Issues.aspx http://www.pgpf.org/Issues.aspx

by devmonk 16y ago

cschneid 16y ago

As of July 28, 2010, the "Total Public Debt Outstanding" was approximately 93% of annual GDP. -- Wikipedia It'd suck, but we could pay that off in 20 years if we cut the budget to something maintainable. Not optimal, but nowhere near your "so broke hurf durf, never pay it off".

technomancy 16y ago
> if we cut the budget to something maintainable ... which would be in the best interests of the country, but against the best interests of a given single politician, so it's very unlikely.
- cschneid 16y ago
  I agree, it'd be a very hard political decision. But the hurf-durf about us being beyond-broke is overblown, at least currently. I do however agree that the trajectory we are on is going to screw us.
devmonk 16y ago
U.S. debt held by public as % of GDP projected at 230% by 2035 and 1000% by 2080 at current rate by Peterson Foundation (a non-politically affiliated NPR sponsor): http://www.pgpf.org/~/media/PGPF/Media/PDF/2010/04/16/04162010_Fiscal_Outlook_G2_mmp.ashx http://www.pgpf.org/~/media/PGPF/Media/PDF/2010/04/16/041620... For more numbers: http://www.pgpf.org/Issues.aspx http://www.pgpf.org/Issues.aspx