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FUCKING SICK OF THE FISCAL CLIFF BULLSHIT 16 TRILLION IN DEBT IS THE TOPIC

 
Anonymous Coward
User ID: 24046300
United States
12/28/2012 11:44 PM
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Re: FUCKING SICK OF THE FISCAL CLIFF BULLSHIT 16 TRILLION IN DEBT IS THE TOPIC
term should be 'dubbya's legacy'

current spending appears a drop in the ocean when compared to his admins financial disaster.
 Quoting: Anonymous Coward 31038269


Some of you Aussies aren't only assholes but you're fuckin' stupid too.
Anonymous Coward
User ID: 30760504
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12/28/2012 11:49 PM
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Re: FUCKING SICK OF THE FISCAL CLIFF BULLSHIT 16 TRILLION IN DEBT IS THE TOPIC
I say forfeit on the debt, tell the elite bond holders to go fuck themselves.
 Quoting: Anonymous Coward 30647034


then who lends the money? they will say go fuck themselves to us! face it, it is over... the elite are all about population reduction...
Anonymous Coward
User ID: 30760504
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12/28/2012 11:50 PM
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Re: FUCKING SICK OF THE FISCAL CLIFF BULLSHIT 16 TRILLION IN DEBT IS THE TOPIC
term should be 'dubbya's legacy'

current spending appears a drop in the ocean when compared to his admins financial disaster.
 Quoting: Anonymous Coward 31038269


Some of you Aussies aren't only assholes but you're fuckin' stupid too.
 Quoting: Anonymous Coward 24046300


The aussie is right worst leader in the history of the world in fact he will cause the entire world to collapse
chriskenned
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12/31/2012 05:25 PM
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Re: FUCKING SICK OF THE FISCAL CLIFF BULLSHIT 16 TRILLION IN DEBT IS THE TOPIC
My understanding is that our debt is 16 trillion, our deficit is ~ 1.2 Trillion. The 87 trillion is likely the unfunded future liability which in essence can be counted in the debt figure but typically is not because it is subject to change (up or down) over time. The deficit (1.2 Trillion) is the amount the government over spends per year, whereas the debt is the sum total accumulation of all prior years' deficits. Nobody in America seems to be able to grasp these concepts. Mainly because it requires an understanding of the concept of a trillion. Think of a trillion as a billion thousands or a million millions. For example if we have one million millionaires in the country (that would be about one person in every 300 or one family in every 50), and if we confiscated ALL of their wealth, then we would have enough to almost cover what the government spends over what it takes in per year. Of course the following year when ALL of the millionaires have $0 remaining, we would be back in the same boat of over spending by 1.2 trillion dollars. Hopefully this helps to clear the foggy minds of the average American, but alas, I doubt it!. Here's something else to consider regarding the 16 trillion dollar debt. This means each living person in America (or should I say the average person in America) is responsible for 16,000,000,000,000 / 300,000,000 = 160000 / 3 = $53,333.00. If you only consider the people in the country who earn more than $50,000 per year then each of these people owes approximately $318,000.00. To put it another way the average American household is $318,000.00 in debt and probably doesn't even realize it !!!! To take it a step further knowing that the average family of four subsisting on $50,000 per year could not possibly afford to fork over another penny to the insatiable appetite that is the federal government, lets look at the 1 percenters. By definition, this amounts to roughly 3,000,000 people. If the deficit per year is 1,200,000,000,000, then this means each "one percenter" would need to fork over an additional $400,000 per year every year ad infinitum just to make the government solvent on a year over year basis. Note that is in addition to whatever current income tax millionaires pay currently. So think about it. Let's assume that the average millionaire currently pays $150,000 per year to the federal government (think Romney and his 15% tax rate, let's assume this is valid and ALL millionaires have figured out and taken the time to establish the same off shore tax sheltering strategy. So add the $150,000 to the $400,000 to get $550,000 per year in taxes just to balance the yearly budget deficit. On top of that add in all of the Stage, city, real estate, excise, and local taxes and sales taxes, lets say this adds another $50,000 to the hypothetical one percenter's tax bill. So now she stands at $600,000 tax on her $1,000,000 in net worth. Then we can start talking about what we need to do to reduce the $16,000,000,000,000 debt using only the "one percenters" now that they have $400,000 left per year if we take ALL of the remaining $400,000 * 3,000,000 = 1,200,000,000,000 then in about 13 years we will have enough to pay off the debt. Remember though that this means that ALL of the "one percenters" will have $0 for the next 13 years, how will the economy fair with these prospects, likely not too well. Once you've digested all of this information, we can start to consider that we have not even begun to discuss the so called unfunded liability question which amount to, I believe something like $87 trillion. This is for things like medicare for the bulge of baby boomers ready to suck the government dry with medicare and social security needs. Is anybody starting to get the picture out there??? This is not something that can be solved by the egg heads in Washington who have allowed this mess to be created. This is something that would require draconian measures on ALL citizens for the period of lifetimes. In other words the cliff is upon us and there is nothing we can do about it. So brace yourselves because we are in for some ride !!!

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