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National Debt Article

Discussion in 'Off Topic' started by Morpheus, Oct 16, 2013.

  1. Morpheus

    Morpheus Columbia Gorge Anyway, back on the farm.

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    Interesting quick Article about the National Debt and Debt Ceiling.

    In short,

    1. National Debt is actually on the decline in relation to economic growth.
    2. China actually holds a small portion of debt, ~40% is held by private people with savings bonds and US institutions.
    3. Save for 1 year back in the 1830s, the US has had a national debt.
    4. The national debt debate has been with us since the beginning. Starting when the National Government absorbed each state's debt after the Revolutionary War.

    All in all, we have been here before, we will be here again.

    Four facts about the national debt you may not know - latimes.com
     
  2. simon99

    simon99 Central Oregon Well-Known Member

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    If you actually believe any of this, I pity you.
    This is outright propaganda produced by the leftist media to support us going farther into debt thanks to Obama, his policies and O-care. Never before, ever...have we as a nation been so in debt without the resources and support of the government to align ourselves. The LA Times are about as mainstream as the National Enquirer as far as politics are concerned.
     
  3. OLDNEWBIE

    OLDNEWBIE State of Flux Well-Known Member

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    We may have been here before but we had a STRONG manufacturing base and the jobs that go with it. Look at the shrinking labor force participation rate, the growing percentage of people getting Govt. handouts in exchange for votes and the general laziness of a large portion of American youth. This entitlement generation look more like sheep than a people that can pull this Country out of the malaise that has infected it. What is it now, .40 cents of every Dollar borrowed? We are heading to the point of no return.
     
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  4. Morpheus

    Morpheus Columbia Gorge Anyway, back on the farm.

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    Actually, this article is almost exactly the same article I ready in the 80s. Big difference was, it was Japan, not China then that was taking over the country.

    And for those that don't remember, the 80s was that period of time when the Republic President was out spending the Red's to bring them down. Yet he was some how fiscally conservative.
     
  5. elsie

    elsie Way over there on the left Well-Known Member

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    I know that 3 and 4 are true (Andrew Jackson paid of the national debt during his presidency). But even if the figures of 1 and 2 are accurate, I don't believe that being in debt for 75% of your annual GDP is a good thing. And having the largest single holder of that debt be an ideological adversary isn't particularly healthy either.


    elsie
     
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  6. ATCclears

    ATCclears Seattle area, WA Well-Known Member

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  7. ATCclears

    ATCclears Seattle area, WA Well-Known Member

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  8. DMax

    DMax Yamhill Well-Known Member

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    Funny you talk about that time in history. The conditions are pretty much the same as today. Carter spent his way to prosperity creating major inflation, high oil prices, and the devaluation of the dollar all in the name of equality and fairness. Same thing as hope and change. More progressive polices that bring everyone gown to the lowest level vs bringing up the lowest up to a higher standard. Carter is where the misery index came from but Obammy has broken Carter's record in that dept.
     
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  9. saxon

    saxon springfield Active Member

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    if 1,2,3 and 4 are true please tell me how teh USA fought wars and did business with other countrys before income tax in 1916.
    i mean for 150 years our country ran just fine before income tax and since income tax the national debit has gone sky high
     
  10. saxon

    saxon springfield Active Member

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    even that news story is pure BS (think orwells news speak), they say it has been decades odd because i have a copy from 2002 news paper that talked about the government getting in the business of news propaganda and it was aproved so,,,,,,,,,,,,,,,
     
  11. lola85

    lola85 Portland Member

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  12. Morpheus

    Morpheus Columbia Gorge Anyway, back on the farm.

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    Great little cartoon. Though, don't people have responsibilities for their own actions? This reminds me of the complaint about Californian's moving into Oregon and Washington. The complaint goes, "Those darn Californians moved up here and paid way too much for those houses. Now the locals can't afford to live here." Of course, had the locals chosen not to sell to the Californians in the first place would there be an issue?

    If you take an interest only loan, expecting to flip the house because housing prices always go up, then you deserve exactly what you get. Considering there have been multiple housing bubbles in the past 50 years. The fact the banks helped encourage this, well, stupid is, is stupid does.

    Blaming others because you made a stupid mistake and now no one will bail you out, isn't that kind of the same thing most people on here rail about?