GlockTalk.com
Home Forums Classifieds Blogs Today's Posts Search Social Groups



  
SIGN-UP
Notices

Glock Talk
Welcome To The Glock Talk Forums.

 
  
Reply
 
Thread Tools Display Modes
Old 11-09-2012, 18:16   #1
dukeblue91
Senior Member
 
dukeblue91's Avatar
 
Join Date: Sep 2012
Location: Raleigh, NC
Posts: 1,127
How long will it take to pay off the money owed?

Here is something that will help you to put this in perspective.
If you would pay back $1 every second of the day 24hrs long.
It would take 31,688 Years to pay back only $1 Trillion back.
You can do the math how long it will take to pay back 20 Trillion dollars.

When Oborrow took over our deficit was 9.8 Trillion and now we sit on top of 16 Trillion.
How can the people not be worried and give him more time to spend more.

Lets even say that it would kickstart the economy, although I doubt it.
At that cost it just is not worth it.
The math is not that hard and anyone should be able to figure this out/
dukeblue91 is offline   Reply With Quote
Old 11-09-2012, 18:22   #2
JBnTX
God Bless Texas
 
JBnTX's Avatar
 
Join Date: Aug 2008
Location: Between The Red And Rio Grande
Posts: 14,928
What makes you think they have any intentions of paying it off?
JBnTX is offline   Reply With Quote
Old 11-09-2012, 18:28   #3
dukeblue91
Senior Member
 
dukeblue91's Avatar
 
Join Date: Sep 2012
Location: Raleigh, NC
Posts: 1,127
Quote:
Originally Posted by JBnTX View Post
What makes you think they have any intentions of paying it off?
Well yah there is that.
But admit those numbers are mind numbing.
Whenever I explain this to someone I just get that glare and stare like I just pulled a rabbit out of my arse.
dukeblue91 is offline   Reply With Quote
Old 11-09-2012, 18:35   #4
maxsnafu
Senior Member
 
Join Date: Dec 2006
Posts: 3,166
Quote:
Originally Posted by dukeblue91 View Post
Here is something that will help you to put this in perspective.
If you would pay back $1 every second of the day 24hrs long.
It would take 31,688 Years to pay back only $1 Trillion back.
You can do the math how long it will take to pay back 20 Trillion dollars.

When Oborrow took over our deficit was 9.8 Trillion and now we sit on top of 16 Trillion.
How can the people not be worried and give him more time to spend more.

Lets even say that it would kickstart the economy, although I doubt it.
At that cost it just is not worth it.
The math is not that hard and anyone should be able to figure this out/
Better yet, where are we going to get the 100-200 TRILLION dollars to fund the Baby Boomers' Medicare & Social Security AND continue to pay the 47% (and growing) who don't work at all?
__________________
The meek shall inherit the Gulag.
maxsnafu is offline   Reply With Quote
Old 11-09-2012, 18:37   #5
427
 
427's Avatar
 
Join Date: Nov 2009
Location: KUMSC
Posts: 7,000
There's not enough money in the world to cover the debt and the unfunded liabilities.
__________________
Death twitches my ear. "Live," he says, "I am coming."
Virgil, Minor Poems

Enjoy yourself. It's later than you think.
427 is offline   Reply With Quote
Old 11-09-2012, 18:37   #6
dukeblue91
Senior Member
 
dukeblue91's Avatar
 
Join Date: Sep 2012
Location: Raleigh, NC
Posts: 1,127
Quote:
Originally Posted by maxsnafu View Post
Better yet, where are we going to get the 100-200 TRILLION dollars to fund the Baby Boomers' Medicare & Social Security AND continue to pay the 47% (and growing) who don't work at all?
Yes it is like we are sitting on a powder keg and everyone around it is lighting up cigars to celebrate.
dukeblue91 is offline   Reply With Quote
Old 11-09-2012, 18:39   #7
dukeblue91
Senior Member
 
dukeblue91's Avatar
 
Join Date: Sep 2012
Location: Raleigh, NC
Posts: 1,127
Quote:
Originally Posted by 427 View Post
There's not enough money in the world to cover the debt and the unfunded liabilities.
Then the real question becomes how will it end as there are only 2 or 3 ways to end it.
dukeblue91 is offline   Reply With Quote
Old 11-09-2012, 18:47   #8
GAFinch
Senior Member
 
GAFinch's Avatar
 
Join Date: Feb 2009
Location: Georgia
Posts: 5,801
Quote:
Originally Posted by maxsnafu View Post
Better yet, where are we going to get the 100-200 TRILLION dollars to fund the Baby Boomers' Medicare & Social Security AND continue to pay the 47% (and growing) who don't work at all?
There's no ironclad promise to pay out all that money. They pass a bill reforming the programs and a chunk of the unfunded liability disappears. Four more years of not tackling this, which they absolutely won't now, makes the problem a good bit worse as the debt compounds each year instead of increasing at a flat rate.
__________________
Fear the government that fears your guns.
GAFinch is offline   Reply With Quote
Old 11-09-2012, 19:21   #9
RussP
Moderator
 
RussP's Avatar
 
Join Date: Jan 2003
Location: Central Virginia
Posts: 44,659
Blog Entries: 64
Quote:
Originally Posted by JBnTX View Post
What makes you think they have any intentions of paying it off?
__________________
Freedom has a taste to those who fight and almost die, that the protected will never know.

"Comment is free, but facts are sacred." C.P. Scott, 1921
RussP is offline   Reply With Quote
Old 11-09-2012, 19:56   #10
dukeblue91
Senior Member
 
dukeblue91's Avatar
 
Join Date: Sep 2012
Location: Raleigh, NC
Posts: 1,127
Mr President you have a call from the Peoples Republic of China Collection Agency they want to talk to you about your last month payment.
What do you want me to do?
Oh just tell them that i'm very busy right now distributing wealth and will get back to them no later then 2016 and James make sure you stress to them that I'm not ignoring them in any way.
Now what did I do with that bag of money>
dukeblue91 is offline   Reply With Quote
Old 11-09-2012, 20:04   #11
GAFinch
Senior Member
 
GAFinch's Avatar
 
Join Date: Feb 2009
Location: Georgia
Posts: 5,801
Quote:
Originally Posted by dukeblue91 View Post
Mr President you have a call from the Peoples Republic of China Collection Agency they want to talk to you about your last month payment.
They stopped lending us money a while ago...they only hold about $1 trillion of our money. Most of it is held by the Fed now, which is also printing ~$60 billion/month of our money to inject into the marketplace, and then they "loan" us more money to service the yearly deficit. It's become a giant, circular Ponzi scheme.
__________________
Fear the government that fears your guns.
GAFinch is offline   Reply With Quote
Old 11-09-2012, 20:10   #12
dukeblue91
Senior Member
 
dukeblue91's Avatar
 
Join Date: Sep 2012
Location: Raleigh, NC
Posts: 1,127
Quote:
Originally Posted by GAFinch View Post
They stopped lending us money a while ago...they only hold about $1 trillion of our money. Most of it is held by the Fed now, which is also printing ~$60 billion/month of our money to inject into the marketplace, and then they "loan" us more money to service the yearly deficit. It's become a giant, circular Ponzi scheme.
I have to be honest and say that I did not know that as I thought it was way more then 1 trillion.
I will have to go and see if I can find something on that.

Also then the fed should print a additional 1 Trillion and pay back China

Last edited by dukeblue91; 11-09-2012 at 20:12..
dukeblue91 is offline   Reply With Quote
Old 11-09-2012, 20:24   #13
GAFinch
Senior Member
 
GAFinch's Avatar
 
Join Date: Feb 2009
Location: Georgia
Posts: 5,801
Quote:
Originally Posted by dukeblue91 View Post
I have to be honest and say that I did not know that as I thought it was way more then 1 trillion.
Yeah, it's a very unreported story that I didn't find fully realize until recently. The media talking heads from both parties still talk about China...I don't know if they're unaware also or if they're purposely inflating one problem to cover up the much bigger problem. Like our deficit, the Fed seems to have a larger chunk of unfunded liabilities in the background propping up other financial entities. It's why Ron Paul's call to audit it is theoretically necessary but likely not something we can do without completely collapsing the whole international banking system.
__________________
Fear the government that fears your guns.
GAFinch is offline   Reply With Quote
Old 11-09-2012, 20:35   #14
nursetim
Senior Member
 
nursetim's Avatar
 
Join Date: Mar 2006
Location: liberalville N. M.
Posts: 7,806
In the interest of fairness, Romney would be in the same position of HAVING to spend. To not do so would have entailed cuts so deep and so wide as to make the Grand Canyon look like a shaving knick, effectively shutting down the government. This would never in a million years fly. So really we will keep borrowing until the schmucks figure out we will never be able to pay them back. I wonder if the debt was monetized, what a loaf of bread would cost? A million dollars? I wonder if we could be trading partners with Zimbabwe?
__________________
Malo periculosam libertatem quam quietum servitium. - I prefer liberty with danger to peace with slavery.
Starting a forum for medical people, I'd like to call it doc talk. We need 50 folks to give it the :thumbsup: .
9 and counting.
nursetim is offline   Reply With Quote
Old 11-09-2012, 21:33   #15
barbedwiresmile
Unreconstructed
 
barbedwiresmile's Avatar
 
Join Date: Feb 2008
Location: "Our side of the barbed wire"
Posts: 9,602
What cannot be repaid will not be repaid. That's Econ 101. (municipal bond yields not withstanding)

However, the USD status as reserve currency creates a wrinkle. Hence our foreign policy. As long as we can enforce and maintain the petro dollar, we can print with impunity (unlike Greece, France, the UK, etc). This reality is fundamental to an understanding of what drives our foreign policy. Unsustainable over the long term, sure, but sustainable longer than a pure fiat currency.

Last days of Rome. But remember the fall of Rome manifested over the course of centuries. Plenty of pain left.
__________________

To view links or images in signatures your post count must be 10 or greater. You currently have 0 signatures.


Por La Raza todo, Fuera de La Raza nada
barbedwiresmile is offline   Reply With Quote
Old 11-09-2012, 22:20   #16
FFR Spyder GT
Ex-Gunslinger
 
Join Date: Apr 2012
Location: Hog Jaw, Arkansas
Posts: 1,132
Quote:
Originally Posted by maxsnafu View Post
Better yet, where are we going to get the 100-200 TRILLION dollars to fund the Baby Boomers' Medicare & Social Security AND continue to pay the 47% (and growing) who don't work at all?
Who cares.

I'm part of the 47%!

Spyder

Posted with TapTalk from my ObamaPhone
FFR Spyder GT is offline   Reply With Quote
Old 11-09-2012, 23:04   #17
Gunnut 45/454
Senior Member
 
Gunnut 45/454's Avatar
 
Join Date: Jun 2002
Posts: 14,049
Or if every man woman and child gave $1 a year it would take 44 years to pay the dept.
So lets tax every man women and child equally accross the board $100! For the next ten years and pay it off! No refunds until it's done! I'm sure all those that don't pay taxes will agree right? Anyone think Sandra Fluke wound give up sex to pay her share? Naw she'd exspect the Gov. to pay for right! Oh another thing this will be cash only! No checks, credit cards!
__________________
Gunnut45/454-One shot one kill!

Last edited by Gunnut 45/454; 11-09-2012 at 23:10..
Gunnut 45/454 is offline   Reply With Quote
Old 11-09-2012, 23:14   #18
G17Jake
Senior Member
 
Join Date: Sep 2002
Posts: 7,324
Obama has a plan to tax the wealthy. That will fix everything.
G17Jake is offline   Reply With Quote
Old 11-10-2012, 00:03   #19
cowboy1964
Senior Member
 
Join Date: Sep 2009
Location: U.S.A.
Posts: 15,288
Quote:
Originally Posted by 427 View Post
There's not enough money in the world to cover the debt and the unfunded liabilities.
Not at this instant but it doesn't all have to be funded this instant. The unfunded liability part is spread out over 04 years, 50 years, 60 years, whatever. It's not as bad as it sounds. Not trying to minimize the problem but the U.S GDP is $15 trillion per year. That's $750 trillion in 50 years.

Last edited by cowboy1964; 11-10-2012 at 00:03..
cowboy1964 is offline   Reply With Quote
Old 11-10-2012, 00:08   #20
GAFinch
Senior Member
 
GAFinch's Avatar
 
Join Date: Feb 2009
Location: Georgia
Posts: 5,801
Ugh...it's even worse than I imagined. I didn't know it was possible. I'll probably put this in a new thread tomorrow:

http://www.fedupusa.org/2012/11/the-...ng-to-implode/

From a former commodities broker. The video series totals 2.5 hours, but I can't emphasize enough how much more educational it is compared to normal economic articles.
__________________
Fear the government that fears your guns.
GAFinch is offline   Reply With Quote

 
  
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump




All times are GMT -6. The time now is 04:19.




Homepage
FAQ
Forums
Calendar
Advertise
Gallery
GT Wiki
GT Blogs
Social Groups
Classifieds


Users Currently Online: 640
170 Members
470 Guests

Most users ever online: 2,672
Aug 11, 2014 at 2:31