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US Government is BORROWING $4.8 BILLION PER DAY!!

 
Future Viewer
User ID: 1344660
United States
12/09/2012 01:59 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
I wanted to do some math! It's really not that difficult and anyone can follow along. If any congressmen, senators, or ever our president haven't done these simple calculations for themselves then...well

In the first two months of fiscal year 2013 (October/November 2012) the US government BORROWED to cover expenditures above budget, $292 BILLION.

THAT'S $4.8 BILLION PER DAY in new borrowing

Source
[link to cnsnews.com]

Now all this BS wrangling and politicizing is about tax increases that are said to raise $800 Billon over 10 years or $80 billion per year.

Source
[link to www.newsday.com]

These tax increases will fund the governments BORROWING habits for less than 17 DAYS PER YEAR at current borrowing rates.

Let this sink in and understand that none of what is being jockeyed about in congress, the senate, and by this pitiful president, really matters.

This entire horse and pony show is a smoke screen.
 Quoting: N3m3s1s

^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Can you spell "C - O - L - L - A - P - S - E", I could!!

Can't wait all these "Hasadic/Religious/Russian/Orthodox" Jews will be coming out of their Scam Ass (payed for via Entitlement/Benefits/Welfare) Houses, like an Ant farm filling up with Water from a Severe Rain Storm!

Can't wait!

rant
davvi

User ID: 3677166
United States
12/09/2012 02:08 PM

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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
WTF is wrong with our so called LEADERS? Even a First Grader can see that the US Government is BORROWING $4.8 BILLION PER DAY is a major problem.

Wow, we get the government we elected, go team America.
tomato
 Quoting: Anonymous Coward 1243271


i think the problem is soooo overwhelming at this point that no politician wants to stake his/her career or perks on trying to solve it.

lets face it, politicians know that the way to power is free stuff and the parasites who take and take will always vote to have more.

we now OWE more than the entire world's economy, and those who keep lending are enabling us while giving us the rope to hang ourselves with.

as a politician attempting to solve this your first move would have you run out of office on a rail.
A Jewish mother dreams that her son will grow up to be a doctor or, if retarded, a lawyer." --Jackie Mason

I never give RED karma, only GREEN for great posters. If you give me red or green please leave your name, I like to say thank you...

The complete lack of evidence is the surest sign that the conspiracy is working.

Krauthammer: "If Fences Don't Work, Why Is There One Around The White House?"
Anonymous Coward
User ID: 961432
United States
12/09/2012 02:42 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
This entire horse and pony show is a smoke screen.
 Quoting: N3m3s1s


Yup. The gubmint borrows and spends about $1.5 trillion a year, making up for a gigantic hole in the economy of the same 1.5 trillion, which is what about 8% of GDP?

Meaning if .gov wasnt borrowing and spending that 1.5 trill a year it wouldn't be added into GDP, meaning year over year GDP would be decreasing at a rate of 8% annually.

Let that sink in. An "official" depression is negative GDP for 4 or more quarters. Less .gov consumption over the past 4 years our economy would have shrank by almost 1/3.

Even with the "fiscal cliff" reduction of $600 billion a year we are still looking about about a -2% yoy growth rate in GDP. Of course papering over a depression with borrowed money that can never be paid back is a viable solution.

pennywise
Anonymous Coward
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Finland
12/09/2012 02:45 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
i have an easy solution for you guys: your government borrows 45 cents of every dollar spent right? Then cut all budgets 50% (military, welfare etc.) and your budget is balanced, you can start paying back your enormous debt AND above all starting to live within your means!
Anonymous Coward
User ID: 961432
United States
12/09/2012 02:50 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
i have an easy solution for you guys: your government borrows 45 cents of every dollar spent right? Then cut all budgets 50% (military, welfare etc.) and your budget is balanced, you can start paying back your enormous debt AND above all starting to live within your means!
 Quoting: Anonymous Coward 14703512


Right. Only problem is that same 50% of spending ties directly into the economy, sort of like a huge parasite that has it's tentacles around your nervous system. So much of our cronyist fascist eCONomy is tied directly to wasteful government spending that once its cut out another 50% of that same amount is cut out from the general economy.

Its all unsustainable and eventually it will have to be cut, then a very long period of pain and suffering as the economy tries to relearn how to be self sufficient and grow organically, instead of some like some mutated monsanto induced aberration of an eCONomy.
Anonymous Coward
User ID: 1189758
Netherlands
12/09/2012 03:03 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
Anonymous Coward
User ID: 29192099
Canada
12/09/2012 03:11 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
It should read the government is borrowing 4.8 billion belief units a day.
GodFrequency

User ID: 28671024
United States
12/09/2012 03:15 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
i have an easy solution for you guys: your government borrows 45 cents of every dollar spent right? Then cut all budgets 50% (military, welfare etc.) and your budget is balanced, you can start paying back your enormous debt AND above all starting to live within your means!
 Quoting: Anonymous Coward 14703512


How about just say no to all of it?

Icelandic style
Anonymous Coward
User ID: 14564403
United States
12/09/2012 03:17 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
Sovereign nations don't need to borrow.I thought we were a sovereign nation.
N3m3s1s (OP)

User ID: 4637200
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12/09/2012 03:18 PM

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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
This entire horse and pony show is a smoke screen.
 Quoting: N3m3s1s


Yup. The gubmint borrows and spends about $1.5 trillion a year, making up for a gigantic hole in the economy of the same 1.5 trillion, which is what about 8% of GDP?

Meaning if .gov wasnt borrowing and spending that 1.5 trill a year it wouldn't be added into GDP, meaning year over year GDP would be decreasing at a rate of 8% annually.

Let that sink in. An "official" depression is negative GDP for 4 or more quarters. Less .gov consumption over the past 4 years our economy would have shrank by almost 1/3.

Even with the "fiscal cliff" reduction of $600 billion a year we are still looking about about a -2% yoy growth rate in GDP. Of course papering over a depression with borrowed money that can never be paid back is a viable solution.

pennywise
 Quoting: Anonymous Coward 961432


This is spot on analysis. Basically, if our GOV doesn't spend like crazy, then our Debt to GDP ratio would be about 150% right now.
This is what you call a debt/death spiral.
Anonymous Coward
User ID: 1189758
Netherlands
12/09/2012 03:52 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
We are only a few months have passed and there is already talk of QE4.

What is this about?

Well, QE Infinity is about the purchase of mortgage-backed securities in the amount of $ 40 billion per month.
You understand that that is not enough. The U.S. has an immensely deficit that only through the FED can be financed.

A central bank that only buys mortgage debt, does not helpa lot. Especially since "Operation Twist", which exchanged bills for long-term bonds, by the end of the year stops.

If the Fed ends there, then the U.S. government has to pay higher interest rates to attract investors.

A little calculation shows that is not an option.

The U.S. government has $ 16 trillion in debt this year and pays about $ 224 billion in interest. That is 1.4%.

If the interest rate rises to 4% for example, then you have $ 640 billion needed annually. That's a small $ 436 billion more than today.

That rate increase to fund, the income of the U.S. government by 17%.

That's on top of the efforts needed to the current budget deficit close to drive.

An impossible exercise with other words.

Remains only as an alternative to the Fed. Bernanke will next mortgage debt also have to buy government bonds.

Chances are that he at the next FOMC meeting (11-12 December) will announce all.

hiding
Instant Karma
I can see for miles

User ID: 25981580
United States
12/09/2012 04:02 PM

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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
We are NOT borrowing 4.8 billion per day!!!!!


We are printing 90% of that because there aren't many stupid people left with money to buy our debt.

We are only borrowing (roughly) .48 billion per day. The rest we just print and wait for hyperinflation.
 Quoting: samanthasunflower


Neither the FRS nor the Treasury is "printing" anything. The Fed is creating digital money (out of nothing) and loaning it to the US Treasury at interest. That's the real problem.

Why are we paying a bank principle and interest on money they create out of nothing?

Last Edited by Instant Karma on 12/09/2012 04:05 PM
Dollar Deception: How Banks Secretly Create Money:

[link to www.webofdebt.com]

mobius-gears
Anonymous Coward
User ID: 25646201
United States
12/09/2012 04:03 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
I wanted to do some math! It's really not that difficult and anyone can follow along. If any congressmen, senators, or ever our president haven't done these simple calculations for themselves then...well

In the first two months of fiscal year 2013 (October/November 2012) the US government BORROWED to cover expenditures above budget, $292 BILLION.

THAT'S $4.8 BILLION PER DAY in new borrowing

Source
[link to cnsnews.com]

Now all this BS wrangling and politicizing is about tax increases that are said to raise $800 Billon over 10 years or $80 billion per year.

Source
[link to www.newsday.com]

These tax increases will fund the governments BORROWING habits for less than 17 DAYS PER YEAR at current borrowing rates.

Let this sink in and understand that none of what is being jockeyed about in congress, the senate, and by this pitiful president, really matters.

This entire horse and pony show is a smoke screen.
 Quoting: N3m3s1s



US is finished...
Anonymous Coward
User ID: 720559
Australia
12/09/2012 04:31 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
don.t forget that $$$ 239 trillion unfunded liabilitiy thingy
davvi

User ID: 3677166
United States
12/09/2012 04:50 PM

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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
Sovereign nations don't need to borrow.I thought we were a sovereign nation.
 Quoting: Anonymous Coward 14564403


prosperous, sovereign nations do not borrow. prosperous, sovereign nations LEND.
A Jewish mother dreams that her son will grow up to be a doctor or, if retarded, a lawyer." --Jackie Mason

I never give RED karma, only GREEN for great posters. If you give me red or green please leave your name, I like to say thank you...

The complete lack of evidence is the surest sign that the conspiracy is working.

Krauthammer: "If Fences Don't Work, Why Is There One Around The White House?"
Anonymous Coward
User ID: 961432
United States
12/09/2012 07:49 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
We are NOT borrowing 4.8 billion per day!!!!!


We are printing 90% of that because there aren't many stupid people left with money to buy our debt.

We are only borrowing (roughly) .48 billion per day. The rest we just print and wait for hyperinflation.
 Quoting: samanthasunflower


Neither the FRS nor the Treasury is "printing" anything. The Fed is creating digital money (out of nothing) and loaning it to the US Treasury at interest. That's the real problem.

Why are we paying a bank principle and interest on money they create out of nothing?
 Quoting: Instant Karma


I think this confuses a lot of people, when folks talk about the government "printing money" they are really 1/2 correct. As you say what the government really does is issue more debt. How does that debt get bought, or where does the money come from to purchase the new debt? If you look at all the assets and capital in existence there isn't enough excess or available capital to purchase the increasing amounts of debt.

As always, the debt is brought about at the .gov bond auctions. Who gets to show up to the bond auctions? The primary dealers (22 or so of the biggest banks). How do they purchase the new bonds? They have to use Federal Reserve Credit. In other words they post some kind of collateral to get credit from the fed with which to buy the new bonds. So what do they post as collateral for the new credit? They most likely post as collateral the bonds they are going to buy. lmao

Then, they later sell those same bonds back to the fed through the repurchase programs (QE) for a risk free profit as the fed causes all interest rates to fall.

If the government just printed new currency it wouldn't be as bad as the system we have now, since the new debt has associated interest which must be serviced (as it is now with new debt) and the areas which that new debt enters into is like toxic waste as it never really enters into the general economy to induce price inflation (the rich folks like price inflation) it just sits on fantasy accounting books which have no basis in reality.

blink
Anonymous Coward
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United States
12/09/2012 08:13 PM
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Re: US Government is BORROWING $4.8 BILLION PER DAY!!
California school system is similar in debt due to the immigration flood and entitlements.

[link to www.npr.org]

News