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Very Hot Topic (More than 25 Replies) Interest On Public Debt to Quadruple In Ten Years (Read 7,966 times)
Shooterman
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #10 - 02/07/15 at 12:28:27
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Quote:
Shrinking Gov(not going to happen) printing more money(?

Is there something I'm missing?



Nope! You are tracking the problem very well. We will not reduce spending. We will print more money out of thin air ( Thank you Federal Reserve ) and we will continue to pay the interest to the fat cat bankers that own the Federal Reserve, on money they created and 'loaned' to us.
  

Our Bill of Rights constitutes a cluster of little foxholes of liberty ground into the hard cold face of history by helpless men for a shield against the lash of tyrants. They are the result of distrust of power and distrust of men in power. They are a recognition of Lord Acton's statement of a truth eternal--"power corrupts, and absolute power corrupts absolutely."R. CARTER PITTMAN&&Dalton, Ga., Sept. 28, 1955.DRAFT JAN MORGAN FOR PRESIDENT!
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Shooterman
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #11 - 02/07/15 at 12:41:42
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Wayne wrote on 02/07/15 at 11:43:33:


As I recall, Wayne, I, at no time, have stated Obama hasn't spent more than other Presidents, I did say he has not spent more than all other Presidents combined, which was N-T's statement. Accumulation of deficits is what drives the adding of debt, ne c'est pas? If roughly 12.5 Trillion was the debt when Bush left office and it is now about 18.5 Trillion, it would be mathematically impossible for Obama to have added more debt ( again N-T's assertion ) THAN ALL OTHER PRESIDENTS COMBINED!

If this is not so, what am I missing?
  

Our Bill of Rights constitutes a cluster of little foxholes of liberty ground into the hard cold face of history by helpless men for a shield against the lash of tyrants. They are the result of distrust of power and distrust of men in power. They are a recognition of Lord Acton's statement of a truth eternal--"power corrupts, and absolute power corrupts absolutely."R. CARTER PITTMAN&&Dalton, Ga., Sept. 28, 1955.DRAFT JAN MORGAN FOR PRESIDENT!
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Naturalized-Texan
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #12 - 02/07/15 at 12:44:41
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Shooterman wrote on 02/07/15 at 11:12:19:
Doubtful, regardless of how many times you repeat it. The debt at the end of G W Bush term was about 12.5 Trillion. At present it is somewhere north of 18 Trillion. The very simple math I was taught many many moons ago, says ( even if rounded up to about 6 Trillion added during Obama's term, it is still far short of 12.5 Trillion.

I proved my assertion to you beyond any possible doubt several months ago.

BTW, I still have the budgets that I used to prove my point on my hard disk, but they are readily available here, if you dare to look them up. I doubt if you will, however.
  

"Anthropogenic Global Warming/Climate Change is a massive POLITICAL hoax."
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Naturalized-Texan
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #13 - 02/07/15 at 12:54:54
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Following the presentation of Obama's first budget, the Wall Street Journal published an article stating that that budget projected a doubling of the national debt, stating that, even then, Obama was adding more to the national debt than all the previous presidents, combined. Since then, Obama's addition to the national debt is MUCH greater than was projected when the Wall Street Journal published that article. I had the link to that article Bookmarked, but it has since been removed from the Journal's web page and is no longer available.
  

"Anthropogenic Global Warming/Climate Change is a massive POLITICAL hoax."
Naturalized-Texan, many times in the past 15 years

"Modern American liberalism, Mussolini's Fascism, and Hitler's Nazism all have their roots in Wilsonian Progressivism."
Naturalized-Texan, 1/7/2009

"The goal of all liberal programs is to produce ever-increasing numbers of poor and ignorant people dependent on government handouts."
Naturalized-Texan, many times in the past 15 years
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Wayne
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #14 - 02/07/15 at 12:57:41
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Shooterman wrote on 02/07/15 at 12:41:42:
As I recall, Wayne, I, at no time, have stated Obama hasn't spent more than other Presidents, I did say he has not spent more than all other Presidents combined, which was N-T's statement. Accumulation of deficits is what drives the adding of debt, ne c'est pas? If roughly 12.5 Trillion was the debt when Bush left office and it is now about 18.5 Trillion, it would be mathematically impossible for Obama to have added more debt ( again N-T's assertion ) THAN ALL OTHER PRESIDENTS COMBINED!

If this is not so, what am I missing?





  And I at no time said you did. My link shows the facts. The assertion is not and can not be accurate for  the very simple reason that an incoming prez carries the burden of his predecessors fiscal budget.  Bush carried willes and the o carried Bushes. Simple as 1 , 2 , c.
  

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Shooterman
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #15 - 02/07/15 at 12:58:56
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Naturalized-Texan wrote on 02/07/15 at 12:44:41:
I proved my assertion to you beyond any possible doubt several months ago.



There you go again! Your imagination overwhelms you.
  

Our Bill of Rights constitutes a cluster of little foxholes of liberty ground into the hard cold face of history by helpless men for a shield against the lash of tyrants. They are the result of distrust of power and distrust of men in power. They are a recognition of Lord Acton's statement of a truth eternal--"power corrupts, and absolute power corrupts absolutely."R. CARTER PITTMAN&&Dalton, Ga., Sept. 28, 1955.DRAFT JAN MORGAN FOR PRESIDENT!
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Shooterman
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #16 - 02/07/15 at 13:00:37
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Naturalized-Texan wrote on 02/07/15 at 12:54:54:
Following the presentation of Obama's first budget, the Wall Street Journal published an article stating that that budget projected a doubling of the national debt, stating that, even then, Obama was adding more to the national debt than all the previous presidents, combined. Since then, Obama's addition to the national debt is MUCH greater than was projected when the Wall Street Journal published that article. I had the link to that article Bookmarked, but it has since been removed from the Journal's web page and is no longer available.


But, of coursed, Mon Ami!  Grin
  

Our Bill of Rights constitutes a cluster of little foxholes of liberty ground into the hard cold face of history by helpless men for a shield against the lash of tyrants. They are the result of distrust of power and distrust of men in power. They are a recognition of Lord Acton's statement of a truth eternal--"power corrupts, and absolute power corrupts absolutely."R. CARTER PITTMAN&&Dalton, Ga., Sept. 28, 1955.DRAFT JAN MORGAN FOR PRESIDENT!
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WAlt
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #17 - 02/07/15 at 13:27:37
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To service the ever growing debt and keep entitlements afloat and the rest of the government running I see -- in addition to more taxes (innovative taxes that don't exist today but will be implemented) and higher rates on taxes that currently exist -- I see increased means testing (with lower thresholds) on folks with multiple annuity retirements and/or assets that can be considered in excess of what the government deems is needed for them, to be confiscated and redistributed to those of less means. This will include whopping inheritance taxes on the heirs of those with affluent parents and/or those with considerable assets.
  
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #18 - 02/07/15 at 14:12:05
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Wayne wrote on 02/07/15 at 12:57:41:
And I at no time said you did. My link shows the facts. The assertion is not and can not be accurate for the very simple reason that an incoming prez carries the burden of his predecessors fiscal budget. Bush carried willes and the o carried Bushes. Simple as 1 , 2 , c.



Yep
  
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Shooterman
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Re: Interest On Public Debt to Quadruple In Ten Years
Reply #19 - 02/07/15 at 14:12:41
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Wayne wrote on 02/07/15 at 12:57:41:
And I at no time said you did. My link shows the facts. The assertion is not and can not be accurate for the very simple reason that an incoming prez carries the burden of his predecessors fiscal budget. Bush carried willes and the o carried Bushes. Simple as 1 , 2 , c.


I certainly did not argue that. It actually has no bearing on the accumulated debt for 43 Presidents as opposed to 1 President.
  

Our Bill of Rights constitutes a cluster of little foxholes of liberty ground into the hard cold face of history by helpless men for a shield against the lash of tyrants. They are the result of distrust of power and distrust of men in power. They are a recognition of Lord Acton's statement of a truth eternal--"power corrupts, and absolute power corrupts absolutely."R. CARTER PITTMAN&&Dalton, Ga., Sept. 28, 1955.DRAFT JAN MORGAN FOR PRESIDENT!
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