Obama: paying down the debt [Archive] - Glock Talk

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podwich
05-05-2012, 14:14
I came across this quote today- apparently Obama has this in his weekly address:

From http://www.whitehouse.gov/the-press-office/2012/05/05/weekly-address-new-chapter-afghanistan

Thatís why Iíve called on Congress to take the money weíre no longer spending at war, use half of it to pay down our debt, and use the other half to rebuild America.

Seeing as the deficit for 2012 was about twice the entire budget for the DOD, how exactly is borrowing money (and, in addition, only putting half of that borrowed money to pay down debt) going to actually reduce the debt?

Government. :upeyes:

Restless28
05-05-2012, 15:08
Still won't solve the main issue...SPENDING.

Until reforms and/or Medicare and Socialist Security is reformed, the debt is a side issue.

concretefuzzynuts
05-05-2012, 15:12
http://i1076.photobucket.com/albums/w459/concretefuzzynuts/economy.jpg

aircarver
05-05-2012, 15:25
Seeing as the deficit for 2012 was about twice the entire budget for the DOD, how exactly is borrowing money (and, in addition, only putting half of that borrowed money to pay down debt) going to actually reduce the debt?

Government. :upeyes:

He's FOS , as usual....

Spouts BS, looks like a good guy (to the idiots...)

and comes up with more money to spend......:upeyes:
[while merely undermining the defense of the US...]

The problem is, his electorate was morons, and it must ever be such if he's to be 're-elected'

We not only have to ride along, we're expected to paddle the boat.... :steamed:

.

Gunnut 45/454
05-05-2012, 20:34
Well it's obvious -you can be a complete idiot and go to Harvard and get a Nobel! His is a master of BS though!:steamed:

certifiedfunds
05-05-2012, 21:04
Still won't solve the main issue...SPENDING.

Until reforms and/or Medicare and Socialist Security is reformed, the debt is a side issue.

Correct.

The debt isn't even the issue. It is manageable and resolvable with a healthy economy.

The real issue is deficit and trajectory, and social programs are the culprit.

series1811
05-06-2012, 05:05
I came across this quote today- apparently Obama has this in his weekly address:

From http://www.whitehouse.gov/the-press-office/2012/05/05/weekly-address-new-chapter-afghanistan



Seeing as the deficit for 2012 was about twice the entire budget for the DOD, how exactly is borrowing money (and, in addition, only putting half of that borrowed money to pay down debt) going to actually reduce the debt?

Government. :upeyes:

Easy. He's talking to the idiots who voted for him in the first place.

Or people who don't know how to operate calculators (probably a lot of overlap in those two groups anyway).

Glocksanity
05-06-2012, 09:21
It is mathematically impossible to pay off the debt. The US just continues to go bankrupt every decade or so and reorganizes. Only most people don't know that because they don't understand how the system works.

The system is set up to enslave the masses with debt and capture their labor with that.

pugman
05-06-2012, 09:45
Still won't solve the main issue...SPENDING.

Until reforms and/or Medicare and Socialist Security is reformed, the debt is a side issue.

And we have a winner.

The problem is the money being spent is deficit spending.

A friend has this very problem - they finally paid off nearly $10,000 in credit card bills and what did they decide to do with the money they were giving the credit card company every month?

Buy a new car to replace a perfectly good 5 year old vehicle?

His thought process which makes no sense - now we are paying towards an asset?

And this is how many Americans think...

It is mathematically impossible to pay off the debt. The US just continues to go bankrupt every decade or so and reorganizes. Only most people don't know that because they don't understand how the system works.

The system is set up to enslave the masses with debt and capture their labor with that.

Actually it is possible. Granted it would mean some serious program cuts, an increase in taxes, benefits being cut back but it can be done...oh and it needs a balanced budget or more correctly a surplus budget. This in turn would mean you have half the country up in arms as they are in fact now working for the federal government as we fork over 25-50% of our paychecks

The problem is no politican would ever push for it because its political suicide.

certifiedfunds
05-06-2012, 09:55
It is mathematically impossible to pay off the debt. The US just continues to go bankrupt every decade or so and reorganizes. Only most people don't know that because they don't understand how the system works.

The system is set up to enslave the masses with debt and capture their labor with that.

That's actually incorrect. It's very doable with cuts and growth. But it doesn't even need to be paid off. It is very serviceable.

The problem, what is mathematically impossible, are the projections in entitlement spending.

series1811
05-06-2012, 10:05
That's actually incorrect. It's very doable with cuts and growth. But it doesn't even need to be paid off. It is very serviceable.

The problem, what is mathematically impossible, are the projections in entitlement spending.

And, cutting entitlements, is something that would take political guts, the likes of which we haven't seen in some time.

Which begs the question, how do you fix the problem if you can't fix the problem?

pugman
05-06-2012, 10:05
That's actually incorrect. It's very doable with cuts and growth. But it doesn't even need to be paid off. It is very serviceable.

The problem, what is mathematically impossible, are the projections in entitlement spending.

CF has it.

The latest projection over the next 30 years is the federal government has $211 Trillion dollars in long term obligations and promises. Look at it in the simplest of terms: 211/30 = over $7 trillion dollars a year.

The fed took in just over 2.1 Trillion in 2010. Objectively, the financial model of the U.S government will eventually fail without intervention very, very soon.

Add to it the fact today there are 7 people paying into the entitlement programs for every person receiving benefits and this will fall to 4 -1 pretty quickly; the model is starting to crumble.