« previous next »
Pages: [1]

Author Topic: It's not "debt-debt"  (Read 5201 times)

makattak

  • Dark Lord of the Cis
  • friend
  • Senior Member
  • ***
  • Posts: 13,022
It's not "debt-debt"
« on: February 17, 2011, 01:12:39 PM »
So, Obama wants to claim he's made huge strides in that his proposed budgets will only spend as much as we take in by 2015... except for interest on the National Debt.

Seems it's not fair to blame him for all that debt before, so we can't really judge him if he can't pay for the interest on that debt.

http://blogs.abcnews.com/politicalpunch/2011/02/borrowing-to-pay-interest-on-a-debt-isnt-creating-debt-todays-qs-for-os-wh-2162011.html

Hmmm...

http://treasurydirect.gov/govt/reports/ir/ir_expense.htm

http://blog.heritage.org/2009/03/24/bush-deficit-vs-obama-deficit-in-pictures/

Huh. Look at that, only during 3 years of the Bush administration (2003, 2004, 2008) did the deficit exceed the interest payments on the national debt.

Wow, impressive, Obama, you might have 2 years that good.
Report to moderator   Logged
I wish the Ring had never come to me. I wish none of this had happened.

So do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given to us. There are other forces at work in this world, Frodo, besides the will of evil. Bilbo was meant to find the Ring. In which case, you also were meant to have it. And that is an encouraging thought

AZRedhawk44

  • friends
  • Senior Member
  • ***
  • Posts: 13,982
Re: It's not "debt-debt"
« Reply #1 on: February 17, 2011, 01:38:53 PM »
Isn't that a de-facto admission of intent to default?

Quote from: Obama-tranlationifier
"Well, that's just old debt.  I didn't start it, and you can't expect me to bear the burden of paying for it.  I have other things I need to buy with that money.  Like a 60 inch plasma TV, healthcare for the whole country, and shiny rims for my BMW parked out front of my government-assistance-housing apartment."

Report to moderator   Logged
"But whether the Constitution really be one thing, or another, this much is certain - that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist."
--Lysander Spooner

I reject your authoritah!

tyme

  • expat
  • friend
  • Senior Member
  • ***
  • Posts: 1,056
  • Did you know that dolphins are just gay sharks?
    • TFL Library
Re: It's not "debt-debt"
« Reply #2 on: February 17, 2011, 01:45:03 PM »
Cool, are my taxes not tax-tax then?
Report to moderator   Logged
Support Range Voting.
End Software Patents

"Four people are dead.  There isn't time to talk to the police."  --Sherlock (BBC)

SADShooter

  • friend
  • Senior Member
  • ***
  • Posts: 5,242
Re: It's not "debt-debt"
« Reply #3 on: February 17, 2011, 02:20:00 PM »
Pity the poor debater obliged to defend the indefensible.
Report to moderator   Logged
"Ah, is there any wine so sweet and intoxicating as the tears of a hippie?"-Tamara, View From the Porch

makattak

  • Dark Lord of the Cis
  • friend
  • Senior Member
  • ***
  • Posts: 13,022
Re: It's not "debt-debt"
« Reply #4 on: February 18, 2011, 09:49:48 AM »
They've now come up with a name for their deception:

"Primary Balance"

http://washingtonexaminer.com/politics/2011/02/obama-team-uses-slippery-words-tout-budget
Report to moderator   Logged
I wish the Ring had never come to me. I wish none of this had happened.

So do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given to us. There are other forces at work in this world, Frodo, besides the will of evil. Bilbo was meant to find the Ring. In which case, you also were meant to have it. And that is an encouraging thought

griz

  • friend
  • Senior Member
  • ***
  • Posts: 3,060
Re: It's not "debt-debt"
« Reply #5 on: February 18, 2011, 12:10:24 PM »
"Primary Balance"?  That is an amazing verbal sleight of hand.  Note that they not only ignore the interest on the debt, but even ignore the debt itself!  On a personal level, as long as I could afford to pay for the groceries and gasoline each month, I could rack up as much additional credit card debt as I could imagine and still call myself breaking even.  I always wanted a Ferrari, so I'll get one.  And my budget will be balanced as long as I don't by another one?
Report to moderator   Logged
Sent from a stone age computer via an ordinary keyboard.

AZRedhawk44

  • friends
  • Senior Member
  • ***
  • Posts: 13,982
Re: It's not "debt-debt"
« Reply #6 on: February 18, 2011, 12:18:47 PM »
Why is nobody $#!+-faced terrified of the $600-$700 billion dollars we pay in interest on the debt?

DOD, Social Security and the debt interest are the 3 largest line items on the Fed Budget.  2009 DOD was $680 billion.  2009 SS was $696 billion.  The debt interest payments are $383 billion and projected to climb in six short years (2009-2015) to $627 billion, and ultimately to $844 billion by 2021.

It's out of control.

And it'll sink us inside of 3 presidential election cycles.
Report to moderator   Logged
"But whether the Constitution really be one thing, or another, this much is certain - that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist."
--Lysander Spooner

I reject your authoritah!

makattak

  • Dark Lord of the Cis
  • friend
  • Senior Member
  • ***
  • Posts: 13,022
Re: It's not "debt-debt"
« Reply #7 on: February 18, 2011, 12:20:56 PM »
Quote from: AZRedhawk44 on February 18, 2011, 12:18:47 PM
Why is nobody $#!+-faced terrified of the $600-$700 billion dollars we pay in interest on the debt?

DOD, Social Security and the debt interest are the 3 largest line items on the Fed Budget.  2009 DOD was $680 billion.  2009 SS was $696 billion.  The debt interest payments are $627 billion.

It's not 600 billion right now. It's 3-400 billion.

It will be 600 billion and much sooner than Obama's math predicts. And yes, I'm scared. We can't afford this.

As I've read, roughly "what cannot continue, will not."
Report to moderator   Logged
I wish the Ring had never come to me. I wish none of this had happened.

So do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given to us. There are other forces at work in this world, Frodo, besides the will of evil. Bilbo was meant to find the Ring. In which case, you also were meant to have it. And that is an encouraging thought

AZRedhawk44

  • friends
  • Senior Member
  • ***
  • Posts: 13,982
Re: It's not "debt-debt"
« Reply #8 on: February 18, 2011, 12:23:23 PM »
We have the MIGHTIEST ARMED FORCES IN THE WORLD, and they cost us $600+ billion a year.

That means we have the MIGHTIEST CREDITORS IN THE WORLD, an army in their own right, that we've bought with the same amount of money.

It's tucking ferrifying.
Report to moderator   Logged
"But whether the Constitution really be one thing, or another, this much is certain - that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist."
--Lysander Spooner

I reject your authoritah!

Waitone

  • friend
  • Senior Member
  • ***
  • Posts: 3,133
Re: It's not "debt-debt"
« Reply #9 on: February 18, 2011, 04:35:20 PM »
I submit the appropriate emotion for now is anger, not fear.  We are in a freight train headed over the cliff and the president is shoveling coal into the boiler to make it go faster. 
Report to moderator   Logged
"Men, it has been well said, think in herds. It will be seen that they go mad in herds, while they only recover their senses slowly, and one by one."
- Charles Mackay, Scottish journalist, circa 1841

"Our society is run by insane people for insane objectives. I think we're being run by maniacs for maniacal ends and I think I'm liable to be put away as insane for expressing that. That's what's insane about it." - John Lennon

makattak

  • Dark Lord of the Cis
  • friend
  • Senior Member
  • ***
  • Posts: 13,022
Re: It's not "debt-debt"
« Reply #10 on: February 18, 2011, 04:37:32 PM »
Quote from: Waitone on February 18, 2011, 04:35:20 PM
I submit the appropriate emotion for now is anger, not fear.  We are in a freight train headed over the cliff and the president is shoveling coal into the boiler to make it go faster. 

Quote from: Yoda
Fear leads to anger. Anger leads to hate. Hate leads to suffering...
Of course without that anger we're going to be suffering so you can shove it on this one, Yoda.
Report to moderator   Logged
I wish the Ring had never come to me. I wish none of this had happened.

So do all who live to see such times. But that is not for them to decide. All we have to decide is what to do with the time that is given to us. There are other forces at work in this world, Frodo, besides the will of evil. Bilbo was meant to find the Ring. In which case, you also were meant to have it. And that is an encouraging thought

PTK

  • friends
  • Senior Member
  • ***
  • Posts: 4,318
Re: It's not "debt-debt"
« Reply #11 on: February 18, 2011, 04:54:09 PM »
Quote from: Waitone on February 18, 2011, 04:35:20 PM
I submit the appropriate emotion for now is anger, not fear.  We are in a freight train headed over the cliff and the president is shoveling coal into the boiler to make it go faster. 

Wait, you mean that's not the right path to take? ???
Report to moderator   Logged
"Only lucky people grow old." - Frederick L.
September 1915 - August 2008

"If you really do have cancer "this time", then this is your own fault. Like the little boy who cried wolf."

KD5NRH

  • friends
  • Senior Member
  • ***
  • Posts: 10,926
  • I'm too sexy for you people.
Re: It's not "debt-debt"
« Reply #12 on: February 18, 2011, 05:15:28 PM »
Quote from: PTK on February 18, 2011, 04:54:09 PM
Wait, you mean that's not the right path to take? ???

Only if we can hit 88MPH before we get to the end of the track.
Report to moderator   Logged

tyme

  • expat
  • friend
  • Senior Member
  • ***
  • Posts: 1,056
  • Did you know that dolphins are just gay sharks?
    • TFL Library
Re: It's not "debt-debt"
« Reply #13 on: February 18, 2011, 05:35:26 PM »
Is the fc power source working, or do we need lightning?
« Last Edit: February 18, 2011, 05:40:39 PM by tyme »
Report to moderator   Logged
Support Range Voting.
End Software Patents

"Four people are dead.  There isn't time to talk to the police."  --Sherlock (BBC)

AZRedhawk44

  • friends
  • Senior Member
  • ***
  • Posts: 13,982
Re: It's not "debt-debt"
« Reply #14 on: February 18, 2011, 05:40:51 PM »
Quote from: tyme on February 18, 2011, 05:35:26 PM
Is the fc power source working, or do we need lightning?

Beer will do fine.
Report to moderator   Logged
"But whether the Constitution really be one thing, or another, this much is certain - that it has either authorized such a government as we have had, or has been powerless to prevent it. In either case, it is unfit to exist."
--Lysander Spooner

I reject your authoritah!
Pages: [1]
« previous next »