17 Trillion

[squarepush3r]

http://www.marketwatch.com/story/us-debt-tops-17-trillion-for-first-time-2013-10-18

October 19, 2013 10:39 am
[h=2]Washington - The US debt jumped above 17 trillion dollars for the first time in history, the Treasury Department said Friday.[/h] The debt at the end of business Thursday, after Congress lifted the debt limit, was 17.075 trillion dollars.

On Wednesday, the debt was 16.7 trillion dollars - a figure held steady by Treasury Secretary Jacob Lew as he used extraordinary measures to keep it under that mandated limit since May.

After weeks of stalemate and a government shutdown, Congress agreed on Wednesday to lift the debt limit until February 7, when the battle will resume again unless Republicans and Democrats come to an agreement before then.

The manoeuvres that Lew had undertaken since May meant there was immediate need to replenish various pension funds and other sources he had borrowed from, explaining the huge jump in the debt.

 

[squarepush3r]

5 star thread!!!

 

[thecoolman]

I agree with Obama face#1


http://www.youtube.com/watch?feature=player_embedded&

 

[grimreefer24601]

The real question all of us should be asking at this point is about the deficit, not the debt.


Until the deficit becomes a negative, we're adding to the debt.

Liberal or conservative, or whatever, we're adding to the debt.

 

[UncleBuck]

yeah, blame the guy who has cut the deficit in half (that would be obama) rather than the guy who took a surplus and left the next guy with a $1.5 trillion annual deficit (that would be the republican predecessor whose name can't be mentioned lest we remember history, which is always a bad idea).

one star.

 

[UncleBuck]

The real question all of us should be asking at this point is about the deficit, not the debt.

i completely agree!

in recent history, only democrats have reduced or eliminated the deficit.

in recent history, republicans have exploded deficits, going so far as to turn a surplus into a record shattering annual deficit.

but, ya know, whatevs.

all obama's fault.

 

[thecoolman]

i completely agree!

in recent history, only democrats have reduced or eliminated the deficit.

in recent history, republicans have exploded deficits, going so far as to turn a surplus into a record shattering annual deficit.

but, ya know, whatevs.

all obama's fault.

Yes Clinton reduced it thanks to a republican congress.
Once again I[video=youtube;DyLmru6no4U]http://www.youtube.com/watch?feature=player_detailpage&v=DyLmru6no4U[/video] agree with obama face#1

 

[UncleBuck]

well, you figured out how to embed a video. that's a step forward.

but the placement leaves something to be desired. only someone who is borderline functionally retarded would embed a video right into the middle of a sentence.

better luck next time, chap.

 

[LegalizeNature420]

We need to listen to Ron Paul about all these damn military bases we have around the world. Why do we need bases in Germany? Are the Soviets going to storm Europe in their T-90 tanks tomorrow? After 70 years, do you think it's safe enough to pull out of Japan, or are they going to begin forming Kamikaze squads the moment we leave? Blowing $7.5 million dollars PER DAY so Israel can continue their illegal occupation (war crime under Geneva Convention), and nearly the same amount of money and arms to bribe Egypt from attacking Israel. The government is obsessed with military spending. We spent more money on the military than the next 13 most powerful countries COMBINED!!! Cut that shit and we'll get out of our mess in no time. We can depend on our ridiculous nuke stockpile instead.

 

[MuyLocoNC]

Yes Clinton reduced it thanks to a republican congress.
Once again I[video=youtube;DyLmru6no4U]http://www.youtube.com/watch?feature=player_detailpage&v=DyLmru6no4U[/video] agree with obama face#1

Precisely, Clinton caved and didn't stand in the way of Newt and the boys. It's laughable to even mention him in relation to the surplus, unless it's as a footnote on the accomplishments of Gingrich. Clinton fought EVERTHING to the bitter end and he did so quite publicly. The Dems were screaming the same as this shutdown about the dire effects that would come. The Repubs held firm, Clinton threw up the white flag...AND... an actual Conservative plan was implemented. No gloom, no doom, just common sense righting the ship. Progressives proven to be liars, so they do what they do best... rewrite history and take credit.

If it wasn't so pathetic, it'd be funny.

 

[tokeprep]

yeah, blame the guy who has cut the deficit in half (that would be obama) rather than the guy who took a surplus and left the next guy with a $1.5 trillion annual deficit (that would be the republican predecessor whose name can't be mentioned lest we remember history, which is always a bad idea).

one star.

Refer to one president's fictional surplus in the same breath you refer to another president's fictional deficit. What brilliant political marketing.

 

[tokeprep]

i completely agree!

in recent history, only democrats have reduced or eliminated the deficit.

in recent history, republicans have exploded deficits, going so far as to turn a surplus into a record shattering annual deficit.

but, ya know, whatevs.

all obama's fault.

Only the Democrats? When would that be, Buck? The 90s? Because that wasn't only them...

 

[heckler73]

What's this? America has $17000000000000.01 in savings ?

Shock! Horror!

 

[UncleBuck]

Refer to one president's fictional surplus in the same breath you refer to another president's fictional deficit. What brilliant political marketing.

the fictional surplus. ok.

http://www.davemanuel.com/history-of-deficits-and-surpluses-in-the-united-states.php

2009

$1413 Billion*Deficit

$1539.22 Billion*Deficit

D

2001

$127.3 Billion*Surplus

$168.16 Billion*Surplus

R

bush oversaw a surplus in 2001 the same way obama oversaw a record deficit in 2009.

from there, they went their own ways with respect to increasing or decreasing the deficit.

Only the Democrats? When would that be, Buck? The 90s? Because that wasn't only them...

i was referring to the guys with the ultimate veto power over the budget.

in recent history, only democrat guys with the ultimate veto power over the budget have reduced or eliminated the deficit.

in recent history, only republican guys with the ultimate veto power over the budget have exploded deficits, going so far as to turn a surplus* into a record shattering annual deficit**.




*not a fictional surplus
**not a fictional record shattering annual deficit

 

[UncleBuck]

What's this? America has $17000000000000.01 in savings ?

Shock! Horror!

how's canada doing with respect to debt and deficits?

 

[tokeprep]

the fictional surplus. ok.

http://www.davemanuel.com/history-of-deficits-and-surpluses-in-the-united-states.php

2009

$1413 Billion*Deficit

$1539.22 Billion*Deficit

D

2001

$127.3 Billion*Surplus

$168.16 Billion*Surplus

R

bush oversaw a surplus in 2001 the same way obama oversaw a record deficit in 2009.

from there, they went their own ways with respect to increasing or decreasing the deficit.

Except most of the revisions to Clinton "surplus" were technical adjustments. Damn. Image when the imagined surplus doesn't show up! It's called the Tech Bubble.

i was referring to the guys with the ultimate veto power over the budget.

in recent history, only democrat guys with the ultimate veto power over the budget have reduced or eliminated the deficit.

in recent history, only republican guys with the ultimate veto power over the budget have exploded deficits, going so far as to turn a surplus* into a record shattering annual deficit**.

Oh, you mean the congress then, since it ultimately controls such things.

 

[squarepush3r]

Wait until interest rates increase (from the massive money that has been printed in the past few years), say they increase to 8% like they were under Clinton.

That's 1.36 Trillion per year just in interest payments. I don't think Obamanuts/liberals are evil, just bad at math.

This is current budget graph

So, on that pie chart, when the 7% slice increases to 14%, 21%, how will we afford all these social programs that Uncle Buck loves?

I figure most adult humans learn this principal in their teen years when they get their first credit card, but I guess I overestimate most Americans!

 

[NoDrama]

Why use "recent" history? Because if you use all of history NONE of Bucky's talking points make any sense at all. In fact it makes the conservative idiot base look absolutely stellar in their performance compared to the other idiots on the other side of the aisle.

 

[NLXSK1]

yeah, blame the guy who has cut the deficit in half (that would be obama) rather than the guy who took a surplus and left the next guy with a $1.5 trillion annual deficit (that would be the republican predecessor whose name can't be mentioned lest we remember history, which is always a bad idea).

one star.

If there was a surplus in the government, why didnt the debt go down??

Answer... A shady accountant can make the books say whatever you want them to...

 

[UncleBuck]

If there was a surplus in the government, why didnt the debt go down??

notice how the lines go down towards the end of the clinton years.

notice the source? it is the same one used at the GOP national convention, which you served as head cheerleader for at the time.