The National Debt

[klunderbunker]

You always hear about it being this evil thing that is going to kill us all and enslave the human race apparently. One thing from the GOP that I don't get: why is it built up like something we MUST pay off immediately? Pay off a little at a time and it'll go down. Get rid of some of the principle and you don't have to pay as much interest. Basic finance and economics.

 

[48.7 is Approximately 49 Times Better Than You]

Pay off a little at a time =/= spend more.

 

[Mantaur Rodeo Clown]

Man, that would rock. If it weren't for the fact that the US will never be able to pay off it's debts. Unless you know, they put 150% of their GDP into paying it off.

And then there'll be no Wrestlemania :O

 

[klunderbunker]

Yes they can pay them off. The problem is the GOP for some reason thinks we have to do it all in like a year or so, which is bogus.

 

[Big Nick Dudley]

It's a huge problem, Republicans are right. However, they think cutting social programs is enough, and it's not. You can't cut that much money from the budget, you just can't. You have to cut defense spending, and raise taxes as well.

 

[klunderbunker]

It's a huge problem, Republicans are right. However, they think cutting social programs is enough, and it's not. You can't cut that much money from the budget, you just can't. You have to cut defense spending, and raise taxes as well.

It's definitely a problem, but you nailed it. There's a lot that it takes to fix it and it's going to take a lot of time.

 

[JGlass]

I have a bad feeling in my... fuck it, it's not a feeling, I KNOW the Dems are going to allow the Republicans to chip away at social programs without ever cutting into defense or raising taxes in any significant manner, and soon the political sphere will be redefined again. They say Democrats of today are like Republicans of Nixon's time. Well, the Democrats of tomorrow will be like the Republicans of Bush's time.

 

[klunderbunker]

Sadly you're probably right. Dems are so terrified of the GOP it's unreal. Stand up for SOMETHING please. It can't be that hard. Americans aren't going to bail when you're defending one of those programs. They'll back you up.

 

[JGlass]

You'd think that what happened in Wisconsin would help the Democrats gain some confidence.

I swear, sometimes I think the only way to get the Dems any confidence is to have a Tea Party type movement on the left.

 

[klunderbunker]

Obama's speech yesterday helped. The thing is that now the GOP has to do something if they want to keep the tax cuts alive. If nothing happens, they expire and we go back to Clinton era rates.

This is something that the GOP hopes never gets out: under CLinton we had higher rates on the wealthy. The results? 22 million new jobs and a surplus. Now why all of a sudden is it so evil to want to raise them at all if that's the potential result?

 

[JGlass]

Logic and Republicans go together like oil and water. Actually, if you ask some Republicans I'm sure they'd tell you oil and water get along just fine, just look at the Gulf!

 

[klunderbunker]

Well of course. I mean we have to drill baby drill right? That 1% of oil we use a day is desperately needed.

 

[JGlass]

What's the deal with the new oil supply they found in Utah?

 

[klunderbunker]

I haven't heard about it. Won't mean much at the end of the day though.

 

[JGlass]

WE NEED MOAR OIL! MOAR MOAR MOAR!!!

 

[Moon Knight]

It is a problem, the debt is coming to 100% of our GDP and if we don't start paying it off, well then it could mean and will mean major damage to our credit rating. We shouldn't and can't pay it off all at once, but a debt crisis would spell disaster for the nation..Look at Japan and Ireland. Getting rid of the deficit is more important, that kills the dollar. The higher the debt means the payments on it go up. Atleast thats what I heard.

 

[klunderbunker]

It is a problem, the debt is coming to 100% of our GDP and if we don't start paying it off, well then it could mean and will mean major damage to our credit rating. We shouldn't and can't pay it off all at once, but a debt crisis would spell disaster for the nation..Look at Japan and Ireland. Getting rid of the deficit is more important, that kills the dollar. The higher the debt means the payments on it go up. Atleast thats what I heard.

We definitely need to get rid of the debt but the GOP plan is one that basically says rich people/corporations/military > middle class. That's where the fight comes from and it's a fight that needs to happen.

 

[JGlass]

Their logic is that if the richest people have money they will be able to pay the middle and lower class to do jobs. The thing is, they won't, they'll pay someone in India a fraction of what they would have to pay an American, and spend the money they saved on a $10,000 pair of shoes. Trickledown economics is the biggest lie in the history of our government.

 

[klunderbunker]

Their logic is that if the richest people have money they will be able to pay the middle and lower class to do jobs. The thing is, they won't, they'll pay someone in India a fraction of what they would have to pay an American, and spend the money they saved on a $10,000 pair of shoes. Trickledown economics is the biggest lie in the history of our government.

Yep. It's rather idiotic and it only works for the rich people.

 

[JGlass]

It's almost as if the Republicans are lying to the middle class in order to make life better for the rich folks...

No, that can't be. I refuse to believe it.

 

[Moon Knight]

We definitely need to get rid of the debt but the GOP plan is one that basically says rich people/corporations/military > middle class. That's where the fight comes from and it's a fight that needs to happen.

Thats what pisses me off about the GOP, we have enough money to fund a war machine and give tax cuts to the rich..but help the poor thats a big no no. There is a following to get rid of social security, to me there is not enough talk in ending the Wage Base limit or raising it.

 

[Moon Knight]

Their logic is that if the richest people have money they will be able to pay the middle and lower class to do jobs. The thing is, they won't, they'll pay someone in India a fraction of what they would have to pay an American, and spend the money they saved on a $10,000 pair of shoes. Trickledown economics is the biggest lie in the history of our government.

Both sides seem to buy into that in a way, the dems seemed to like stimulus thinking people would put it back into the economy. Not that they would bank any of it.

 

[JGlass]

The Stimulus did create jobs though, and it's not like they put the money into the pockets of the rich. The Stimulus was much more successful than the media would have you believe.

 

[klunderbunker]

The Stimulus was good but it could have been a lot bigger. Would have helped if it hadn't been gutted.

 

[Moon Knight]

The Stimulus did create jobs though, and it's not like they put the money into the pockets of the rich. The Stimulus was much more successful than the media would have you believe.

Which are you talking about? I was talking about the one done years ago, the one that gave americans a check. I was not talking that huge one after the crash, which in all honesty wasn't a successful as it was hyped to be. Of course I was more unhappy with how the money was spent, not the sum.