Our Debt

grumpy · By: **grumpy** On: Sat Aug 11, 2012 8:21 pm

This is what where doing, add eight zero's and the numbers are real.

jpete · By: **jpete** On: Sun Aug 12, 2012 7:10 am

That is PERFECT! Genius!

lsayre · By: **lsayre** On: Sun Aug 12, 2012 7:38 am

Per Yahoo Finance last Friday, the Federal Governments debt is now growing by $10 million per minute. That is how much more is being spent at the Federal level by the Government then is being taken in via all revenue sources. At that rate you can likely tax the people (all of them, rich and poor) at 100% with no loopholes, and still not make ends meet.

Dann757 · By: **Dann757** On: Sun Aug 12, 2012 7:50 am

Personally, I live within my means.

Romney/Ryan will have the courage to fight the ever growing nanny state. The Union Teachers in NJ hopped around like angry monkeys when Gov. Christie made attempts to reign in out of control spending. Anybody hear from Obama's buddy Gov. Crash Corzine lately, who absconded with $150,000,000 from one of his companies?

Obama wants another multi-billion dollar stimulus.

samhill · By: **samhill** On: Sun Aug 12, 2012 7:51 am

What's the going interest rate on the debt? Just like paying a mortgage, It don't drop much until you pay down the principal & we haven't done a dollar of that since somewhere in the 60s or before, came close once but no cigar. We don't have to spend anything & will still be going deeper in debt.

Dann757 · By: **Dann757** On: Sun Aug 12, 2012 8:01 am

samhill wrote:What's the going interest rate on the debt?

Fiscal Year 2012 Total

$323,050,646,977.43

http://treasurydirect.gov/govt/reports/ ... xpense.htm

What Obama wants to do is gut the military. But we know him, he'll tell us he'll use the money to pay down the debt., then it will disappear into another fake green energy project or a nationwide bullet train. Or to hire more high paid government workers to interfere with our freedoms.

Romney/Ryan will work to eliminate out of control nanny state entitlements.

lsayre · By: **lsayre** On: Sun Aug 12, 2012 8:04 am

Dann757 wrote:Romney/Ryan will work to eliminate out of control nanny state entitlements.

How can you possibly believe that? No previous Republican administration ever worked to this end. Why should this one be any different?

lsayre · By: **lsayre** On: Sun Aug 12, 2012 8:13 am

samhill wrote:What's the going interest rate on the debt? Just like paying a mortgage, It don't drop much until you pay down the principal & we haven't done a dollar of that since somewhere in the 60s or before, came close once but no cigar. We don't have to spend anything & will still be going deeper in debt.

The interest rate on the national debt is related to the interest rate paid out on long term government Treasury bonds (notes). They are artificially low in rate right now.

10 year interest rate = 1.56%
20 year interest rate = 2.25%
30 year interest rate = 2.60%

These are the interest rates at which the government borrows money from the Federal Reserve.

samhill · By: **samhill** On: Sun Aug 12, 2012 8:24 am

Pretty good deal the Fed has going there, make money from thin air & then get paid for doing so, no wonder those families that are the Fed do so well.

lsayre · By: **lsayre** On: Sun Aug 12, 2012 8:27 am

samhill wrote:Pretty good deal the Fed has going there, make money from thin air & then get paid for doing so, no wonder those families that are the Fed do so well.

The treasury notes come from thin air also. This racket is the largest Ponzi scheme the world has ever seen. As long as we are willing to accept fiat currency notes for our production, we are trading real wealth (the productive fruit of our labor) for pure and unadulterated instruments of debt. It's actually going to be worse in the long haul than giving our productivity away for nothing. Interest on the debt (and life in a fiat currency world) is a lot like playing the kids game of "musical chairs", but with fires blazing upon the seats. As long as the music is playing (money is being fabricated from thin air), no one who is caught up in the frenzy of the game (life in a Ponzi/fiat monetary world) knows who will eventually get burned (foreclosed upon, or forced into bankruptcy or at the very least forced under water by the fact that there is always more debt in the system than there is money to pay it off). But if the music were ever to stop (sort of like in 1929 and 2008).....

franco b · By: **franco b** On: Sun Aug 12, 2012 12:45 pm

Wonderful video, I loved it. Damn greedy banker did not want to give him the money.

In actuality though, inflation is the only form of taxation that has become politically acceptable or possible at this time. Europe has decided on the same path. There is some good news though. Inflation can be stopped or at least brought under control as it was during the late stages of the Carter administration and the early days of Reagan, also the Thatcher administration in Britain which had about 25 percent. An expansion of the economy can also allow government printing without inflation as will cutting spending. Cutting spending depends on things being bad enough for enough political support to make cuts.

A return to a free market economy and ending government or government supported monopoly is needed for expansion.

This business of central banks and printing money can go on for a long time without disaster. In Britain it was formed to finance the war in Northern Ireland, So that's about 400 years. What's scary though is the rate of increase we are seeing now and it looks like more is on the way.

It's also not true that future generations have to do the paying. You pay right now in increased prices.

jpete · By: **jpete** On: Sun Aug 12, 2012 7:33 pm

If the Bank of England lasted 400 years, then the Fed has 300 to go!

Now that's scary!

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