What caused this spike in national debt?

Lucky88

Lucky88

Active Member
Hey guys are you talking about your American economy? Seems like the same thing here in Canada just not on quite the same scale, think it has a lot to do with the very very wealthy investors moving there businesses and investments overseas to China and setting up shop there. There is hardly any manufacturing industry in Canada anymore all the large companies seemed to move overseas to a cheaper and union free work force cutting half the middle class jobs. Also both the US and Canada economies rise and fall with the price of oil. And both countries need to stop relying so heavily on use of oil in cars and go the route of Brazil and install corn fuel at all gas stations. When the price of oil goes up so does everything else causing bigger debts..
 
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NoDrama

Well-Known Member
S.T.A.R. wars and Ronny Ray Gun + Billy the kid. It did what it was intended to do, it bankrupted the Soviet Union and ended the cold war.
 
Padawanbater2

Padawanbater2

Well-Known Member
NoDrama said:
S.T.A.R. wars and Ronny Ray Gun + Billy the kid. It did what it was intended to do, it bankrupted the Soviet Union and ended the cold war.
Click to expand...
Doubtful. Not to mention the program began in 1983, the shift in deficit spending takes place during the 1970's on that graph

"Since its start in the 1980s, the program has cost at least $158 billion, according to official figures, while other estimates put the price tag higher."

http://www.rawstory.com/2013/05/ronald-reagans-star-wars-project-still-hasnt-met-original-goal-30-years-later/
 
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NoDrama

Well-Known Member
Padawanbater2 said:
Doubtful. Not to mention the program began in 1983, the shift in deficit spending takes place during the 1970's on that graph

"Since its start in the 1980s, the program has cost at least $158 billion, according to official figures, while other estimates put the price tag higher."

http://www.rawstory.com/2013/05/ronald-reagans-star-wars-project-still-hasnt-met-original-goal-30-years-later/
Click to expand...
National debt is just a euphemism for government spending above and beyond what government can take in taxes.
Pres. Jackson might have been wrong on a lot of things, but he knew the power of the banks, the interest they charged, and what it's ultimate outcome would be. All that government debt has an interest charged. Ronnie and Billy got this ball rolling. Good god, Ronnie had bonds at 15% at one time. Old people just bought bonds and could actually retire on that coupon.

Forget that today. You might be able to semi retire if you buy bonds, and work a shitty McJob on the side and do under the table work for real cash.
 
UncleBuck

UncleBuck

Well-Known Member
why not blame the actual people who ran up the debt?

that would mean the generation responsible for members like nodrama and desert dude and ginwilly and murdoch and robroy. they're the ones who voted for the elected representatives who ran up the debt.

i've never voted for anyone who has even increased the deficit.
 
heckler73

heckler73

Well-Known Member
When the banking system of the world changed in the early 70s, the ledgers began tallying. The shift was more noticeable and pronounced in Canada.

www.bis.org/events/conf100624/goodhartpaper.pdf

Similarly the 1970s was another confused inter-regnum between the subservience of monetary policies to government control, and the establishment of a free market system, with the Central Bank following a regime of
inflation targetry.
 
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NoDrama

Well-Known Member
Lets not forget our favorite little combat action in a place called Vietnam, Which of course was caused by Democrats.:roll:
 
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