OT: debt

[horshack.sixpack]

Hopefully the only depressing stats we see this weekend….

 

[jethreauxdawg]

What has the net worth of elected officials during this time? Lock ‘em all up.

 

[karlchilders.sixpack]

Depressing, get back to me Monday.

 

[Xenomorph]

Hopefully the only depressing stats we see this weekend….

View attachment 1454434

That’s what happens when property values double in that same decade.

 

[BreckyBratt]

So is that like the ncaa and the private schools(China & Russia) don't have to report. Kinda***

 

[horshack.sixpack]

So is that like the ncaa and the private schools(China & Russia) don't have to report. Kinda***

Built different

 

[DesotoCountyDawg]

The debt itself really isn’t all that bad because the US controls most of the debt BUT it’s not sustainable at the rate it’s increasing.

Good luck finding anyone in Washington who will tackle that.

 

[skip dog]

Congress controls the purse strings

 

[BTCMoonBoy]

But let’s fire bomb a guy‘s business because he tries to do something about government crooks

 

[TaleofTwoDogs]

Six ways to reduce debt:

1. reduce spending
2. reform the tax code
3. eliminate fraud
4. control inflation
5. maintain high employment levels
6. don't agree to develop pathogens with china

Simple **

 

[BTCMoonBoy]

Six ways to reduce debt:

1. reduce spending
2. reform the tax code
3. eliminate fraud
4. control inflation
5. maintain high employment levels
6. don't agree to develop pathogens with china

Simple **

Term limits first
Balanced budget 2nd

 

[CascillaCountryClub]

Six ways to reduce debt:

1. reduce spending
2. reform the tax code
3. eliminate fraud
4. control inflation
5. maintain high employment levels
6. don't agree to develop pathogens with china

Simple **

#3 is a big one. I remember people 50 years ago that lived down the road from me that were drawing full disability checks and cutting pulp wood on the side. I don’t know how many of you have ever cut, loaded and hauled pulp wood, but it‘s a very physical task . Go to you local grocery store and Wal-Mart around the first of the month. Probably 80% of shoppers are living off the Government.

 

[Awwhellnaw]

After thorough analysis, this chart clearly does not have an erection.

 

[Captain Ron]

It can be done, but it takes the will and leadership. Florida has paid down a huge portion of the state debt, increased the rainy day fund, decreased the budget, not raised college tuition in years while increasing teacher pay etc

Crazy that NYC has a third of the population of Florida but has a higher budget than the whole state.

 

[Called3rdstrikedawg]

7) only the Supreme Court, the third branch of the government, can interfere with the Other 2 branches decisions. No lower court has any authority over decisions by the President or Congress. That protects the people from activist judges on both sides.

 

[horshack.sixpack]

The debt itself really isn’t all that bad because the US controls most of the debt BUT it’s not sustainable at the rate it’s increasing.

Good luck finding anyone in Washington who will tackle that.

There are only two levers to pull to have a material impact on debt service. Social Security and Medicare/Medicaid. There is no political willpower in this country to do so from us, voters, all the way up through political hierarchy. So we get unserious people doing unserious things to pretend to try to cut things while increasing spend at an alarming rate (consistent across parties).

 

[3407Dewey]

My limited understanding is that these numbers aren't quite as bad as they seem because we also have a higher GDP than any of the other countries listed. But even if that's true, the current path is unsustainable. We are now borrowing money to pay the interest on money we've already borrowed. I used to think the GOP was serious about fiscal responsibility, but I no longer believe that.

 

[horshack.sixpack]

#3 is a big one. I remember people 50 years ago that lived down the road from me that were drawing full disability checks and cutting pulp wood on the side. I don’t know how many of you have ever cut, loaded and hauled pulp wood, but it‘s a very physical task . Go to you local grocery store and Wal-Mart around the first of the month. Probably 80% of shoppers are living off the Government.

There are people who get on mental disability. I had a distant cousin who i heard was on disability, then I saw him with a lawn care business and was told by another family member his was mental. I’m not sure where to file that…

 

[jethreauxdawg]

So we get unserious people doing unserious things to pretend to try to cut things while increasing spend at an alarming rate (consistent across parties).

Chicken dinner

 

[jethreauxdawg]

There are people who get on mental disability. I had a distant cousin who i heard was on disability, then I saw him with a lawn care business and was told by another family member his was mental. I’m not sure where to file that…

The elected officials are mentally disabled

 

[horshack.sixpack]

The elected officials are mentally disabled

Is that why they don’t work?

 

[jethreauxdawg]

Is that why they don’t work?

 

[thatsbaseball]

If it make you feel any better you could say we're highly "leveraged" . LOL

 

[BoDawg.sixpack]

I think I posted this in another thread, but the aggregate value of all national assets has been rising at almost a four times faster rate then the national debt in the last 25 years.

Yes, the debt is ballooning at an alarming rate, but the investment by the US in education has paid off. In fact if you read Yahoo Finance today, they published an article containing multiple quotes from financial analysts saying the increase in interest rates lately have more to do with a booming economy than anything else.

If you had severely restricted the Strait of Hormuz 30 years ago, increased interest rates, and applied tariffs to a bunch of imported goods, it would have crashed the stock market. But we're now looking at a market that has created over 140 all-time record highs in the last 15 months among the three major indices. Things simply don't work like they used to. This is a new economic environment in which conclusions can't be drawn from the ones we had in the past.

 

[grinningmule]

#3 is a big one. I remember people 50 years ago that lived down the road from me that were drawing full disability checks and cutting pulp wood on the side. I don’t know how many of you have ever cut, loaded and hauled pulp wood, but it‘s a very physical task . Go to you local grocery store and Wal-Mart around the first of the month. Probably 80% of shoppers are living off the Government.

I posted this in the last big thread on the debt concerning SSI payments. Look at the disabled category.

 

[grinningmule]

There are people who get on mental disability. I had a distant cousin who i heard was on disability, then I saw him with a lawn care business and was told by another family member his was mental. I’m not sure where to file that…

Was it Karl's Lawn Care?

 

[HRMSU]

My limited understanding is that these numbers aren't quite as bad as they seem because we also have a higher GDP than any of the other countries listed. But even if that's true, the current path is unsustainable. We are now borrowing money to pay the interest on money we've already borrowed. I used to think the GOP was serious about fiscal responsibility, but I no longer believe that.

Yep, used to campaign on reducing the debt but that ship has long since sailed. Debt reduction at the expense of something else is never an easy sell but they no longer even try. There are too many people who vote with their emotions to ever vote logically to reduce debt.

 

[horshack.sixpack]

Was it Karl's Lawn Care?
View attachment 1455217

Karl might he a little brighter…

 

[BreckyBratt]

After thorough analysis, this chart clearly does not have an erection.

Poster should have led with stolen from ED.***

 

[NashLA]

There are only two levers to pull to have a material ink act in debt service. Social Security and Medicare/Medicaid. There is no political willpower in this country to do so from us, voters, all the way up through political hierarchy. So we get unserious people doing unserious things to pretend to try to cut things while increasing spend at an alarming rate (consistent across parties).

This. Everything else is just garnish.