Just_A_Guy Posted November 2, 2009 Report Share Posted November 2, 2009 See here.Note that this isn't to pay down the national debt; this is just closing the gap between income and expenditures created within one year. Quote Link to comment Share on other sites More sharing options...
bytor2112 Posted November 2, 2009 Report Share Posted November 2, 2009 But we need health care reform and that stimulus bill saved us.....didn't it??????????? Quote Link to comment Share on other sites More sharing options...
unixknight Posted November 2, 2009 Report Share Posted November 2, 2009 But we need health care reform and that stimulus bill saved us.....didn't it???????????And now they're talking about another stimulus bill. Quote Link to comment Share on other sites More sharing options...
bytor2112 Posted November 2, 2009 Report Share Posted November 2, 2009 But it feels so good now that other countries like us....they do right???? And now that we closed GITMO and ended the Patriot Act....they have done all that...right? And President Obama said the the stimulus bill would prevent unemployment from going over 8%...that happened right? And I am so happy that President stopped signing bills with earmarks....he did right? Quote Link to comment Share on other sites More sharing options...
Moksha Posted November 2, 2009 Report Share Posted November 2, 2009 This guy is proposing to close the national deficit in a one year period? Quote Link to comment Share on other sites More sharing options...
prisonchaplain Posted November 3, 2009 Report Share Posted November 3, 2009 Why not, Moksha...didn't we double it in one year? Quote Link to comment Share on other sites More sharing options...
bytor2112 Posted November 3, 2009 Report Share Posted November 3, 2009 Why not, Moksha...didn't we double it in one year?Triple...... Quote Link to comment Share on other sites More sharing options...
Just_A_Guy Posted November 3, 2009 Author Report Share Posted November 3, 2009 This guy is proposing to close the national deficit in a one year period?Just for clarity: this is the annual budget deficit, not the cumulative national debt, that he's talking about. Quote Link to comment Share on other sites More sharing options...
Moksha Posted November 3, 2009 Report Share Posted November 3, 2009 Just for clarity: this is the annual budget deficit, not the cumulative national debt, that he's talking about. How were you able to make that disinction? Quote Link to comment Share on other sites More sharing options...
jadams_4040 Posted November 3, 2009 Report Share Posted November 3, 2009 See here.Note that this isn't to pay down the national debt; this is just closing the gap between income and expenditures created within one year. And what happened to the 1.7 trillion debt that was left over from last year? Quote Link to comment Share on other sites More sharing options...
Just_A_Guy Posted November 3, 2009 Author Report Share Posted November 3, 2009 How were you able to make that disinction?I should have linked to the taxprof'ssource. But he's clearly talking about the annual deficit here, not the national debt.And what happened to the 1.7 trillion debt that was left over from last year?Something like .7 trillion of that was the first stimulus, of which I understand around 60-70% is still tied up in President Obama's administration waiting to be spent.Maybe he'll give it back? Quote Link to comment Share on other sites More sharing options...
Moksha Posted November 3, 2009 Report Share Posted November 3, 2009 Something like .7 trillion of that was the first stimulus But what of the other cumulative deficit stemming back from the 1950s? Quote Link to comment Share on other sites More sharing options...
Just_A_Guy Posted November 3, 2009 Author Report Share Posted November 3, 2009 What of it? (aside from the fact that it has to be paid back too). Spending more than you earn is stupid, no matter what your political party. Quote Link to comment Share on other sites More sharing options...
Charlyc Posted November 3, 2009 Report Share Posted November 3, 2009 How were you able to make that disinction?"close the deficit" makes the distinction. Means to bring it to an end during 2010, and not have to take out more debt, from the Chinese today, to cover a deficit.The rest of the debt I believe will never be paid because it would require big changes in taxation, like introducing a national VAT/GST or something.My guess, just my personal opinion, is that they'll default on the Chinese debt on some lame excuse eg Chinese government supports terrorism, or go to war with China and thus avoid payment. They can also start paying part of SS payment with new Bonds and thus kick the social security problem forward. But then again patriots pay ALL their taxes, so maybe you should start there? Quote Link to comment Share on other sites More sharing options...
blusun7 Posted November 4, 2009 Report Share Posted November 4, 2009 The economy will come crashing down within the next three years. When did they end the patriot act?They improved it if anything. Quote Link to comment Share on other sites More sharing options...
Moksha Posted November 4, 2009 Report Share Posted November 4, 2009 The economy will come crashing down within the next three years.When did they end the patriot act? They improved it if anything. You may have a point. After all, the end was predicted in the Mayan Calendar as being 2012 and Glen Beck has not said anything to the contrary.:) Quote Link to comment Share on other sites More sharing options...
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