White House: Deficit Will Hit Record $427B

[No Limit]

you are missing the point. The deficit is no big deal, especially when your economy is growing. Now if the deficit was as big as it is now, and our economy was shrinking, we would have a problem. Our deficit is much the same as any other 1st world country when compared to our GDP.

Don't just freak out because the numbers are big.

have you heard that durable goods orders are up and that they are at a 10 year high? things are good, the tax cuts were needed, they brought us out of a recession and spurred economic growth, low interest rates have created a BOOM in the housing market and things are good, quit worrying.

Arguing with a right winger is like arguing with a door. I point out exactly how that is a problem you respond with "it's not a big problem" without saying why, I again reply pointing out exactly how it is a problem, you respond with "no, you are missing a point, its not a problem" again without saying how. :dozey:

So again, yes it is a huge problem. The money America doesn't have America charges to a credit card; that credit card will have to be paid off.

 

[Scoobnfl]

Arguing with a right winger is like arguing with a door. I point out exactly how that is a problem you respond with "it's not a big problem" without saying why, I again reply pointing out exactly how it is a problem, you respond with "no, you are missing a point, its not a problem" again without saying how. :dozey:

So again, yes it is a huge problem. The money America doesn't have America charges to a credit card; that credit card will have to be paid off.

a hangnail is a problem. a heart attack is also a problem. there are various degrees of problems, some less sever than others, and some that require immediate attention as opposed to being able to ignore or live with them.

the budget deficit is a hangnail, no big deal. If our economy continues to grow and expand it will reduce in size. again no big deal. quit freaking out because the numbers are large :smoking:

I guess you're going to say that the dollar being weak against the euro is a bad thing for us too.

 

[gcomeau]

the budget deficit is a hangnail, no big deal. If our economy continues to grow and expand it will reduce in size. again no big deal.

You do realize that simply reducing the size of the deficit only means the country is going further and further into debt slightly less quickly? You're still adding to the overall debt burden... and let's not even think about the interest payments that are going to be required on what debt's already there, because that's just scary.

Hearing some people talk about the budget deficit in the U.S. and how the tax cuts are getting them some benefits just at the moment reminds me of a commercial I saw recently. I'll try to paraphrase it as accurately as memory allows....

Enter guy with a big goofy grin on his face. A curiously stiff and fixed-in-place grin...

"I have a beautiful home!

I have a great car!

I have lots of wonderful toys!

I have (blah, blah, blah...)!

How do I do it? I'm in debt up to my eyeballs!

Someone please help me..."

It was for some debt management company offering refinancing options I believe...

I just keep waiting for certain people to wake up and reach that last stage where they realize "massive debt = bad" but it never seems to happen. Trading your long term fiscal health for a little bit of short term gain is NOT a good idea!

 

[No Limit]

a hangnail is a problem. a heart attack is also a problem. there are various degrees of problems, some less sever than others, and some that require immediate attention as opposed to being able to ignore or live with them.

the budget deficit is a hangnail, no big deal. If our economy continues to grow and expand it will reduce in size. again no big deal. quit freaking out because the numbers are large :smoking:

I guess you're going to say that the dollar being weak against the euro is a bad thing for us too.

:rolling: :rolling: :rolling: :rolling: :rolling: :rolling: :rolling:

I pointed out 4 times now why you should worry. Each time you reply you say not to worry but you still haven't given me a fing reason why.

 

[Scoobnfl]

:rolling: :rolling: :rolling: :rolling: :rolling: :rolling: :rolling:

I pointed out 4 times now why you should worry. Each time you reply you say not to worry but you still haven't given me a fing reason why.

I say don't worry because its manageable and is only 3% of our GDP. That is no big deal.

What's really funny is considering the ridiculous amount of personal debt that the majority of americans have and the overwhelming concern of people over the national debt. It just doesn't make sense to me why people who can not manage their own assets/credit/finances get worked up over the govt. running at a deficit.

 

[Scoobnfl]

I just keep waiting for certain people to wake up and reach that last stage where they realize "massive debt = bad" but it never seems to happen. Trading your long term fiscal health for a little bit of short term gain is NOT a good idea!

I keep waiting for people to realize that a deficit of 3% of our GDP is not that big a deal, yes the monetary sum is large if you look at it by itself, but if you measure it against what matters its miniscule.

 

[No Limit]

I say don't worry because its manageable and is only 3% of our GDP. That is no big deal.

What's really funny is considering the ridiculous amount of personal debt that the majority of americans have and the overwhelming concern of people over the national debt. It just doesn't make sense to me why people who can not manage their own assets/credit/finances get worked up over the govt. running at a deficit.

DID YOU HEAR THE PART WHERE I SAID OUR GOVERNMENT MAKES ONLY ABOUT 16% OF THE GDP? THIS IS A HUGE DEAL! They could build another US military for that kind of money, do you understand that!?!?!

 

[gcomeau]

DID YOU HEAR THE PART WHERE I SAID OUR GOVERNMENT MAKES ONLY ABOUT 16% OF THE GDP? THIS IS A HUGE DEAL! They could build another US military for that kind of money, do you understand that!?!?!

Additionally, someone seems to be having difficulty grasping that that 3% of the GDP is just what is being ADDED to the national debt in this one single year.

The total US national debt is something like 7.6 TRILLION dollars. The 2005 US GDP is estimated at 12.4 Trillion. So the debt is over 60% of national GDP and it's increasing at a rate of something like 2 billion dollars A DAY and accelerating.

If you made $50,000 a year and were over $30,000 in debt with interest constantly compounding that figure upwards while you continued to help it out by STILL spending more money than you make every year such that your total debt as a percentage of your total income kept INCREASING (which is what the US debt is doing now, it's projected to be approaching 70% of GDP by 2010) nobody in their right mind shrugs that off as no big deal.

 

[No Limit]

Additionally, someone seems to be having difficulty grasping that that 3% of the GDP is just what is being ADDED to the national debt in this one single year.

The total US national debt is something like 7.6 TRILLION dollars. The 2005 US GDP is estimated at 12.4 Trillion. So the debt is over 60% of national GDP and it's increasing at a rate of something like 2 billion dollars A DAY and accelerating.

If you made $50,000 a year and were over $30,000 in debt with interest constantly compounding that figure upwards while you continued to help it out by STILL spending more money than you make every year such that your total debt as a percentage of your total income kept INCREASING (which is what the US debt is doing now, it's projected to be approaching 70% of GDP by 2010) nobody in their right mind shrugs that off as no big deal.

Forget it, I already know his response:

"But don't be scared of the large numbers, it is only 3% of the GDP."

You can go on and on with facts, they simply ignore it.